Credit Union 1
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Credit Union 1 is a 501(c)(14) organization based in Rantoul, Illinois, registered in 1958, with $107,315,887 in FY2024 revenue. CharityIndex grades it A.
200 E Champaign Ave, Rantoul, IL, 61866 EIN 37-0767435 Since 1958
Revenue (FY2024)
$107.3M
▲ 9.4% vs prior year
Expenses (FY2024)
$103.2M
Net assets
$157.5M
Employees
497
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Credit Union 1— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating18 mo reserves · +4% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Credit Union 1: 18 mo reserves · +4% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Credit Union 1: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Credit Union 1: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Credit union 1 is a member-owned and controlled financial institution dedicated to providing convenient and competitive services as a means of improving ongoing economic well-being of our members while promoting growth and maintaining the credit union's long-term financial stability.
Contact & location
Financial trends
Revenue grew from $37.3M (FY2013) to $107.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.7BNet assets $157.5M
Operating margin
3.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.9B
Total liabilities
$1.7B
Net assets
$157.5M
Salaries & benefits
$34.4M
33% of expenses
Board members
9
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $107,315,887▲9.4% | $103,205,283▲17.0% | $157,466,187▲18.5% | $1,873,446,949▲10.3% | 990 |
| 2023 | $98,062,927▲32.1% | $88,205,293▲37.1% | $132,932,834▲1.8% | $1,699,028,667▲7.1% | 990 |
| 2022 | $74,221,901▲1.7% | $64,352,203▲8.7% | $130,617,521▲22.2% | $1,585,978,393▲29.3% | 990 |
| 2021 | $72,991,911▲17.9% | $59,187,636▲7.9% | $106,891,248▲11.1% | $1,226,789,437▲4.7% | 990 |
| 2020 | $61,895,810▲3.8% | $54,861,066▲6.3% | $96,209,271▲7.9% | $1,171,433,354▲22.2% | 990 |
| 2019 | $59,629,366▲18.0% | $51,607,748▲16.9% | $89,174,529▲9.9% | $958,631,700▲13.4% | 990 |
| 2018 | $50,527,357▲14.6% | $44,142,088▲11.1% | $81,152,910▲8.5% | $845,293,551▲2.3% | 990 |
| 2017 | $44,099,722▲12.2% | $39,730,078▲12.1% | $74,767,641▲8.0% | $826,333,195▲4.7% | 990 |
| 2016 | $39,294,201▲3.4% | $35,443,230▲3.7% | $69,215,477▲6.0% | $789,470,481▲2.1% | 990 |
| 2015 | $38,015,498▲3.2% | $34,185,878▲0.5% | $65,298,943▲6.2% | $773,159,834▲3.5% | 990 |
| 2014 | $36,824,051▼1.3% | $34,023,279▼3.8% | $61,469,323▲4.8% | $746,663,488▲0.1% | 990 |
| 2013 | $37,302,606 | $35,377,494 | $58,660,703 | $745,918,714 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Todd Gunderson — $852,631 (0.83% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Todd Gunderson | Ceo/president/director | 40 | $852,631 |
| Paul Fichter | Chief Legal Counsel | 40 | $447,201 |
| Jeff Lyle Rothmeyer | Chief Lending Officer | 40 | $444,509 |
| Scott Mcdonald | Evp, Chief Financial Offic | 40 | $439,437 |
| Michael Eck | Chief Marketing Officer | 40 | $360,447 |
| Michael Hirt | Svp, Chief Technology Offi | 40 | $356,155 |
| Robert Eberhardt | Director - Chair | 2 | $21,600 |
| Dan Long | Director | 2 | $14,400 |
| David Thurston | Director - Vice Chair | 2 | $14,400 |
| Hallie Olsen | Director | 2 | $14,400 |
| Jason Rex Tolliver | Director | 2 | $14,400 |
| Kent Yager | Director | 2 | $14,400 |
| Paul Simons | Director | 2 | $14,400 |
| Thomas Wells Jr | Director - Secretary | 2 | $14,400 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Q2 Software Inc | Online Banking Platorm | $2,112,818 |
| University of Notre Dame Athletics | University Sponsorship | $1,834,454 |
| Servion Inc | Loan Servicing | $1,441,021 |
| Dei Inc | Construction Services | $1,419,710 |
| Van Wagner Sports & Entertainment | Sponsorship Fee | $1,120,000 |
Frequently asked questions
- Is Credit Union 1 a legitimate nonprofit?
- Yes. Credit Union 1 is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 37-0767435, based in Rantoul, Illinois.
- What is Credit Union 1's EIN?
- Credit Union 1's Employer Identification Number (EIN) is 37-0767435.
- How much revenue does Credit Union 1 report?
- Credit Union 1 reported $107,315,887 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Credit Union 1 have?
- CharityIndex grades Credit Union 1 A, based on financial health (reserves and operating margin).
- How much does Credit Union 1's highest-paid employee make?
- The highest reported compensation on Credit Union 1's latest Form 990 is $852,631, paid to Todd Gunderson (Ceo/president/director).
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Data for Credit Union 1 (EIN 37-0767435) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.