NonprofitsTelco Plus Credit Union

Public & Societal Benefit

Telco Plus Credit Union

LONGVIEW, TX

Total revenue

$3.7M

Total expenses

$2.6M

Net assets

$11.0M

Grants received

EIN

750853180

Tax year

2020

Mission

Telco Plus Credit Union is a not-for-profit cooperative thrift institution, state chartered and regulated by the State of Texas Credit Union Department and the National Credit Union Administration. Telco Plus Credit Union is a member of the National Credit Union Administration Insurance Fund. Telco Plus Credit Union offers consumer products and services in the following primary areas: Share Accounts, Checking Accounts, Consumer Loans, Home Equity Loans and Mortgage Loans.

Programs

2 programs

Checking accounts: As of December Telco Plus Credit Union maintained over 3,376 active checking accounts. Many accounts earn dividends and most do not require a monthly service charge. Members with checking accounts are offered ATM and Debit card access to their funds. Members over age 60 receive free printed checks, no fee cashier checks and no monthly service charge. Full-time student checking accounts have no monthly service charge and receive a free box of checks. Rewards Checking accounts offer a higher than CD dividend rate, no monthly service charge, ATM fee refunds, ID theft program and free credit report monitoring service.

Consumer Loans: All loans are made to individual consumers. Loans offered include: autos, boats, motorcycles, recreational vehicles, personal loans, furniture, line of credit, credit card, home equity and home mortgage loans. A variety of loan protection products are offered, which include: credit life, credit disability, guaranteed asset protection and mechanical breakdown at rates far less than most dealers. As of December 31, 2019 Telco Plus Credit Union maintained 3,143 loans to members.

Financials

FY 2020

Revenue

Contributions & grants
Program service revenue$3.0M
Investment income$162K
Other revenue$479K
Total revenue$3.7M

Expenses

Grants paid
Salaries & benefits$1.2M
Fundraising
Other expenses$1.4M
Total expenses$2.6M
Total assets$73.6M
Net assets$11.0M

People

9 listed

NameRoleCompensation

Board Member 3

Treasurer

Board

$3K

2 hrs/wk

Board Member 2

Vice Chairman

Board

2 hrs/wk

Board Member 4

Secretary

Board

2 hrs/wk

Board Member 6

Director

Board

1 hrs/wk

Board Member 7

Director

Board

2 hrs/wk

Board Member 5

Director

Board

1 hrs/wk

Board Member 1

Chairman

Board

1 hrs/wk

Board Member 8

Director

Board

1 hrs/wk

Board member 9

Director

Board

1 hrs/wk

Independent contractors

Data Systems of Texas

Core Data Processing

$142K

Details

EIN750853180
NTEE codeW61
Subsection14
Ruling date2025-11
Formed1951
Employees41
Volunteers14
TELCO PLUS CREDIT UNION — Mission, Financials & Grants Received | Grantivo