Blue Eagle Credit Union FY2024 filing

Roanoke, VAUnknown exempt organizationSince 1948 EIN 54-0585044Revenue $19.2M in FY2024

On file with the IRSblueeaglecreditunion.com2121 Electric Road · Roanoke, VA

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Blue Eagle Credit Union has been committed to serving its members and their families in getting ahead financially since 1948. Blue Eagle Credit Union is passionate about matching its members with the right solutions that present opportunity for long-term financial security.

$1.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $2.3M a year · 14% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$1.2M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
3 mo
of spending, in cash
Plus $25.8M in investments, Pt X · Ln 11–13
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$212.6M
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$19.2M
+15% vs prior year
Spent
$16.3M
Net assets
$28.1M
By yearFY2020–FY2025
Revenue
$19.2M
FY2024▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.5M
FY2021$12.6M
FY2022$14.0M
FY2023$16.6M
FY2024$19.2M
FY2025$20.7M
Expenses
$16.3M
FY2024▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$10.7M
FY2021$10.7M
FY2022$11.8M
FY2023$14.3M
FY2024$16.3M
FY2025$17.4M
Net assets
$28.1M
FY2024▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$17.4M
FY2021$20.1M
FY2022$21.5M
FY2023$23.9M
FY2024$28.1M
FY2025$32.2M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

15 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
$417,248Pt VII · Sec A
$231,643Pt VII · Sec A
$207,509Pt VII · Sec A
VP of Operations
$156,885Pt VII · Sec A
VP of Technology
$145,494Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jeffrey Thompson$488,949$417,248$389,167$341,544$307,567$255,542
Kevin Alfred$288,084$231,643$193,723$199,181$181,207$141,354
Diane Smith$244,715$207,509$162,225———
William Tawney————$112,673$212,378
Kristy Wiseman$171,771$156,885————
Jennifer Brady$163,191$145,494————
William a Reynolds———$119,072——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Blue Eagle Credit Union is a nonprofit organization based in Roanoke, VA, formed in 1948.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Blue eagle credit union provides financial services to its members such as savings accounts and loans.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$19.2M
Ln 12
Fees for servicesLn 2g$17.7M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$203K
Money outPt IX
$16.3M
Ln 25
Owns and owesPt X
$28.1M
net assets · Ln 32
Cash and savingsLn 1–2$3.5M
Total assetsLn 16$240.7M
LiabilitiesLn 26$212.6M
PeoplePt VI, VII
15
listed · VII A
PaidVII A5
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$17.7M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$203K
Total revenueLn 12$19.2M
Assets in detailPt X, end of year
CashLn 1$3.5M
Cash and savings togetherLn 1–2$3.5M
InvestmentsLn 11–13$25.8M
Land, buildings, equipmentLn 10c$3.8M
Other assetsLn 15$12.1M
Total assetsLn 16$240.7M
LiabilitiesLn 26$212.6M
Net assetsLn 32$28.1M
OperationsPt I, VI
EmployeesI 587
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$4.1M$3.5M
InvestmentsLn 11–13$18.4M$25.8M
Land, buildings, equipmentLn 10c$4.2M$3.8M
Total assetsLn 16$217.6M$240.7M
LiabilitiesLn 26$193.6M$212.6M
Net assetsLn 32$23.9M$28.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.2M
Other salaries and wagesLn 7$4.0M
Other employee benefitsLn 9$991K
Payroll taxesLn 10$354K
Legal feesLn 11b$3K
Other fees for servicesLn 11g$487K
Advertising and promotionLn 12$186K
OccupancyLn 16$164K
TravelLn 17$64K
Conferences, conventions and meetingsLn 19$57K
InterestLn 20$5K
Depreciation, depletion and amortizationLn 22$488K
Other expenses (24a–d)Ln 24$8.1M
All other expensesLn 24e$243K
Total functional expensesLn 25$16.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $20.7M$17.4M$3.4M$32.2M 990 PDF
FY2024 Viewing $19.2M$16.3M$2.9M$28.1M 990 PDF
FY2023 $16.6M$14.3M$2.3M$23.9M 990 PDF
FY2022 $14.0M$11.8M$2.2M$21.5M 990 PDF
FY2021 $12.6M$10.7M$1.9M$20.1M 990 PDF
FY2020 $11.5M$10.7M$817K$17.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $19,187,958 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $15,404,997$17,712,995
I-10 Investment incomePrior year $1,066,248$1,271,912
I-11 Other revenuePrior year $156,175$203,051
I-12 Total revenuePrior year $16,627,420$19,187,958
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $6,643,556$6,468,292
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,661,378$9,819,481
I-18 Total expensesPrior year $14,304,934$16,287,773
I-19 Revenue less expensesPrior year $2,322,486$2,900,185
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $19,187,958 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,712,995$17,712,995
VIII-3 Investment incomeRelated to mission $1,271,912$1,271,912
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $175,875 · Unrelated business $27,176$203,051
VIII-12 Total revenueRelated to mission $19,160,782 · Unrelated business $27,176 · Excluded from tax $0$19,187,958
Part IX · Statement of functional expenses $16,287,773 across 14 lines filed
IX-5 Pay of current officers, directors and key staff$1,158,779
IX-7 Other salaries and wages$3,964,428
IX-9 Other employee benefits$991,081
IX-10 Payroll taxes$354,004
IX-11b Legal fees$3,347
IX-11g Other fees for services$486,544
IX-12 Advertising and promotion$185,888
IX-16 Occupancy$164,089
IX-17 Travel$63,936
IX-19 Conferences, conventions and meetings$56,502
IX-20 Interest$5,160
IX-22 Depreciation, depletion and amortization$487,856
IX-24 Other expenses (24a–d)$8,122,864
IX-24e All other expenses$243,295
IX-25 Total functional expenses$16,287,773
Part X · Balance sheet $240,666,065 assets, 13 lines filed
Asset lines not itemized here account for $188,912,946; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,132,825$3,543,186
X-4 Accounts receivableStart of year $3,318,125$6,034,466
X-9 Prepaid expenses and deferred chargesStart of year $220,364$514,804
X-10c Land, buildings and equipment, netStart of year $4,190,964$3,813,621
X-12 Other securitiesStart of year $18,382,827$25,795,958
X-15 Other assetsStart of year $11,602,674$12,051,084
X-16 Total assetsStart of year $217,559,628$240,666,065
X-17 Accounts payable and accrued expensesStart of year $2,760,501$1,748,113
X-19 Deferred revenue$719,048
X-25 Other liabilitiesStart of year $190,552,233$209,843,619
X-26 Total liabilitiesStart of year $193,613,679$212,589,077
X-32 Total net assets or fund balancesStart of year $23,945,949$28,076,988
X-33 Total liabilities and net assetsStart of year $217,559,628$240,666,065
Part XI · Reconciliation of net assets $28,076,988 net assets at year end
XI-1 Total revenue$19,187,958
XI-2 Total expenses$16,287,773
XI-3 Revenue less expenses$2,900,185
XI-4 Net assets at start of year$23,945,949
XI-5 Net unrealized gains (losses) on investments$36,759
XI-9 Other changes in net assets$1,194,095
XI-10 Net assets at end of year$28,076,988

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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