Workers Credit Union in Fitchburg, Massachusetts (MA)

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Workers Credit Union
Employer Identification Number (EIN)042079901
Name of OrganizationWorkers Credit Union
In Care of NameWorkers Credit Union
Address815 Main St, Fitchburg, MA 01420-3111
ActivitiesEndowment fund or financial services
SubsectionCredit Union
Ruling Date06/1938
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,038,005,093
Amount of Income$50,511,421
Form 990 Revenue Amount$50,511,421
National Taxonomy of Exempt Entities (NTEE)Public, Society Benefit - Multipurpose and Other: Credit Unions


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Amount of income in 2013: $50,511,421 (it was $49,928,448 in 2012)
This organization: 

 $50,511,421
Other organizations performing similar types of work: 

 $1,062,274

Assets in 2013: $1,038,005,093 (it was $913,270,562 in 2012)
Workers Credit Union: 

 $1,038,005,093
Other organizations performing similar types of work: 

 $21,351,397

Expenses in 2012: $38,381,049
Workers Credit Union: 

 $38,381,049
Other organizations performing similar types of work: 

 $2,711,411

Income to expenses ratio in 2012: 1.3
Workers Credit Union: 

 1.3
Other organizations performing similar types of work: 

 1.1

Number of employees in 2012: 245
Workers Credit Union: 

 245
Other organizations performing similar types of work: 

 19

Employees paid over $100,000 in 2012: 11.8%
Workers Credit Union: 

 11.8%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$49,928,448
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$43,324,583
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$4,779,625
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$63,318
Gross rents (Real / Personal)$63,318 / $0
Less: rental expenses (Real / Personal)$0 / $0
Rental income or (loss) (Real / Personal)$63,318 / $0
Net gain from sales of assets other than inventory$1,760,922
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $1,760,922
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0
Gain or (loss) (Securities / Other)$0 / $1,760,922
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$38,381,049
Compensation of current officers, directors, trustees, and key employees$2,521,757
Other salaries and wages$8,341,940
Payroll taxes$879,914
Professional fundraising services$0
Other$26,637,438
Balance Sheet (for 2012)
Total assets$913,270,562
Total liabilities$791,518,870
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$791,518,870
Total net assets or fund balances$121,751,692
Retained earnings, endowment, accumulated income, or other funds$113,450,289
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:Not provided
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Veridian Credit Union1827 Ansborough Ave, Waterloo, IA 50701-3629IA2007-06$257,259,797
2Iowa Corporate Central Credit Union, Iowa City Branch-American Assoc Of University Wome134 Broadmoor Ln, Iowa City, IA 52245IA2007-06$93,475,974
3Schools Financial Credit Union, Norcal Bowhunters Association9144 Cecile Way, Sacramento, CA 95826CA1961-09$80,484,875
4Workers Credit Union815 Main St, Fitchburg, MA 01420-3111MA1938-06$50,511,421
5San Mateo Credit Union350 Convention Way 3rd Floor, Redwood City, CA 94063-1435CA1961-06$36,915,244
6Weokie Credit UnionPO BOX 26090, Oklahoma City, OK 73126-0090OK2003-12$36,805,080
7Collins Community Credit Union, Non Non305 Trailridge Rd Se, Cedar Rapids, IA 52403IA2007-06$30,907,566
8East Idaho Credit Union865 S Woodruff Ave, Idaho Falls, ID 83401-5296ID2014-01$21,395,075
9Ascentra Credit UnionPO BOX 1107, Bettendorf, IA 52722-0019IA2007-06$18,373,355
10Community Choice Credit Union, 0430 Community Choice Credit Union8404 Nw 62nd Ave, Johnston, IA 50131-2946IA2007-06$18,104,972
11Doco Credit Union107 N Westover Blvd, Albany, GA 31707-2949GA2001-11$15,332,064
12Sacramento Credit UnionPO BOX 2351, Sacramento, CA 95812-2351CA1961-09$14,934,147
13Greater Iowa Credit UnionPO BOX 665, Ames, IA 50010-0665IA2007-06$14,597,738
14Iowa Corporate Central Credit Union, 0302 Citizens Community Credit Unio2012 1st Ave S, Fort Dodge, IA 50501-6704IA2007-06$11,652,317
15Streator Onized Credit Union912 N Shabbona St, Streator, IL 61364-2059IL2001-07$9,112,246
16Suntide Federal Credit Union2141 Tuloso Rd, Corp Christi, TX 78409-2124TX2013-09$8,748,622
17State Chartered Credit Unions In Florida, 273 Members First Cu Of Florida251 W Garden St, Pensacola, FL 32502-5728FL1970-10$8,548,146
18State Employees Credit Union400 Whitehall St Sw, Atlanta, GA 30303-3720GA2001-11$7,762,068
19Members Exchange Credit Union107 Marketridge Dr, Ridgeland, MS 39157-6027MS2001-04$7,761,212
20Iowa Corporate Central Credit Union, 0225 The Family Credit Union1530 W 53rd St, Davenport, IA 52806-2440IA2007-06$6,853,446
Number of organizations performing similar types of work
Alabama2
Arizona1
California11
Florida1
Georgia54
Iowa135
Idaho2
Illinois53
Kansas2
Kentucky1
Massachusetts1
Missouri1
Mississippi3
North Dakota1
New Jersey1
Nevada1
New York1
Oklahoma3
Oregon1
Pennsylvania3
Rhode Island1
Tennessee1
Texas2
Virginia2
Washington2
Wisconsin2
International4
Total292

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