Nonprofit · EIN 74-1255147
MCT CREDIT UNION
Tax-exempt · PORT NECHES, TX 77651
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $21,743,927 | $20,690,246 | $1,053,681 | $358,623,991 | $326,119,045 | $32,504,946 |
| December 31, 2023 | 990 | $20,307,574 | $19,301,045 | $1,006,529 | $355,729,593 | $325,923,982 | $29,805,611 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $18,186,316
- Investment income
- $3,042,461
- Net gain from sales of assets
- $10,846
- Other revenue
- $515,150
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $3,498,055
- Compensation of officers, directors and key employees
- $1,293,791
- Other salaries and wages
- $5,343,788
- Salaries, compensation and benefits (total)
- $7,705,349
- Professional fundraising fees
- $0
- Legal fees
- $27,906
- Accounting fees
- $83,476
- Occupancy
- $727,588
- Travel
- $303,965
- Depreciation
- $656,718
Balance sheet and other
- Total assets, start of year
- $355,729,593
- Total assets, end of year
- $358,623,991
- Total liabilities, end of year
- $326,119,045
- Net assets, end of year
- $32,504,946
- Land, buildings and equipment
- $12,165,190
- Publicly traded securities
- $72,660,747
- Gross unrelated business income
- $84,335
- Gross receipts
- $21,873,404
- Employees
- 105
- Volunteers
- 11
- Year formed
- 1953
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THADDEUS ANGELLE | PRESIDENT/CEO Officer | 50 | $352,942 | $301,042 |
| KAREN FREDERICK | COO Officer | 50 | $196,088 | $151,395 |
| CHAD POWELL | EVP/CFO Officer | 50 | $220,488 | $71,836 |
| KEITH DOUCET | VP OF BUSINESS LENDING Highest-paid employee | 50 | $176,115 | $52,733 |
| KAYLA ALLBRITTON | SVP OF OPERATIONS Highest-paid employee | 50 | $153,083 | $44,886 |
| MICHAEL FRAZIER | VP IT Highest-paid employee | 50 | $127,721 | $67,026 |
| SHANDA ROJAS | VP CONSUMER LENDING Highest-paid employee | 50 | $120,442 | $42,402 |
| BRANDY COLUNGA | VICE PRESIDENT HUMAN RESOU Highest-paid employee | 50 | $129,429 | $32,132 |
| DR GEORGE SCOTT | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| TRENT DEVENZIO | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| REBECCA DEMETER | BOARD SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| RANDY BROWN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RANDY CHANCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL LAIRD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAMES MYERS JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEBORAH NORRIS | DIRECTOR Trustee or director | 1 | $0 |
| KIMBERLY PITTS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THADDEUS ANGELLE | PRESIDENT/CEO Officer | 50 | $354,939 | $253,397 |
| KAREN FREDERICK | COO Officer | 50 | $190,435 | $188,282 |
| CHAD POWELL | EVP/CFO Officer | 50 | $217,899 | $78,983 |
| DEBRA CREW | VP REAL ESTATE Highest-paid employee | 50 | $126,974 | $61,081 |
| MICHAEL FRAZIER | VP IT Highest-paid employee | 50 | $116,545 | $64,138 |
| BRANDY COLUNGA | VICE PRESIDENT HUMAN RESOU Highest-paid employee | 50 | $126,128 | $32,863 |
| KEITH DOUCET | VP OF BUSINESS LENDING Highest-paid employee | 40 | $112,872 | $29,113 |
| KRISTEN LABARERA | CONTROLLER Highest-paid employee | 50 | $117,163 | $19,077 |
| DR GEORGE SCOTT | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| TRENT DEVENZIO | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| REBECCA DEMETER | BOARD SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| RANDY BROWN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RANDY CHANCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL LAIRD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAMES MYERS JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEBORAH NORRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KIMBERLY PITTS | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2736 NALL ST, PORT NECHES, TX 77651-5204
- Principal officer (990 for 2024)
- DEBORAH NORRIS, PO BOX 279, PORT NECHES, TX 77651
- Signed the 990
- CHAD POWELL, EVP/CFO
- Phone
- (409) 727-1446
- Website
- WWW.MCTCU.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
TO PROVIDE FINANCIAL SERVICES, LOAN, AND DEPOSIT PRODUCTS THAT WILL MEET NEEDS AND EXPECTATIONS OF THE FIELD OF MEMBERSHIP AND PROVIDE A FAIR AND EQUITABLE RETURN TO THE CREDIT UNION. TO GROW THE FIELD OF MEMBERSHIP BY AGGRESSIVELY PURSUING ALL PERSONS IN NEED OF FINANCIAL PRODUCTS AND SERVICES BY CONTINUALLY ENHANCING PRODUCTS TO BETTER SERVE THE FIELD OF MEMBERSHIP.
Program accomplishments
- THE CREDIT UNION HAD 2,104 NEW MEMBERS JOIN IN 2024. THE CREDIT UNION OPENED 7,161 DEPOSIT ACCOUNTS IN 2024. THE CREDIT UNION OFFERS A VARIETY OF DEPOSIT ACCOUNT OPTIONS INCLUDING SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, MONEY MARKET ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS (IRA'S), AND CERTIFICATE OF DEPOSIT ACCOUNTS WITH VERY COMPETITIVE INTEREST RATES. THE CREDIT UNION HAS SIX BRANCH LOCATIONS AS WELL AS A SHARED BRANCH PROGRAM, A 24 HOUR CALL CENTER, ONLINE BANKING AND BILL PAY OFFERED AT NO CHARGE TO THE MEMBERSHIP.
- THE CREDIT UNION OFFERS CONSUMER LOANS, MORTGAGE LOANS, AND BUSINESS LOANS TO MEMBERSHIP. THE CREDIT UNION GRANTED 1,719 LOANS FOR $80,491,151 TO ITS MEMBERSHIP IN 2024.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 74-1255147
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1976
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 2742: CREDIT UNION DEPARTMENT OF THE STATE OF TEXAS
- Assets (IRS master file)
- $358,623,991
- Income (IRS master file)
- $21,873,404
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $21,743,927 | $20,690,246 | $358,623,991 | XML |
| 990 | December 2023 | $20,307,574 | $19,301,045 | $355,729,593 | XML |
| 990 | December 2022 | $17,733,954 | $16,167,383 | $355,819,917 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 74-1255147).
Questions about MCT CREDIT UNION
- What is the EIN of MCT CREDIT UNION?
- The employer identification number (EIN) of MCT CREDIT UNION is 74-1255147.
- Is MCT CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1976.
- Are donations to MCT CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MCT CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MCT CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MCT CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MCT CREDIT UNION?
- The 990 for the year ended December 31, 2024 names DEBORAH NORRIS.
- Who are the officers and directors of MCT CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 17 people; 8 received compensation from the organization, the highest $352,942 (THADDEUS ANGELLE, PRESIDENT/CEO).
- How much revenue does MCT CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $21,743,927, expenses of $20,690,246 and total assets of $358,623,991 at year end.
Other nonprofits in PORT NECHES
- TEXAS MOTORIZED TRAIL COALITION INC EIN 76-0622114 · last filed 990 for 2024
- SABINE NECHES-CONSERVATION CLUB EIN 32-0325724 · last filed 990 for 2025
- COMMUNITY CARE-PRAYER OUTREACH EIN 74-2209614 · last filed 990 for 2025
- PORT NECHES RIVERFEST EIN 47-2156251 · last filed 990 for 2025
- FRATERNAL ORDER OF EAGLES EIN 74-1918377 · last filed 990 for 2025
- UNITED STEELWORKERS EIN 74-0956224 · last filed 990 for 2025
- JUANITA PARKER CORBIN CHARITABLE TRUST EIN 82-5438976 · last filed 990-PF for 2025
- HOLISTIC CHRISTIAN MINISTRY INC EIN 37-1569106 · last filed 990 for 2025