Space Coast Credit Union

Not tax-deductible

Melbourne, FLMutual-benefit / member-servingSince 1951Mutual / membership EIN 59-0746906Revenue $516.2M in FY2024Latest return filed Nov 14, 2025

On file with the IRSsccu.com8045 N Wickham Rd, 32940-7920 · Melbourne, FLTax-exempt since Oct 1970

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To create value in cooperative ownership by promoting thrift through a broad array of deposit and savings products and by providing a source of Credit for provident or productive purposes.

Run by 13 volunteers and 1,276 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $58.2M a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$11.9M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
12 mo
of spending, in cash
Plus $497.1M in investments, Pt X · Ln 11–13
Looks good: 11.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $24K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7.9B
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$516.2M
+17% vs prior year
Spent
$467.5M
Net assets
$890.0M
By yearFY2020–FY2024
Revenue
$516.2M
FY2024▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$246.5M
FY2021$248.5M
FY2022$310.2M
FY2023$440.8M
FY2024$516.2M
Expenses
$467.5M
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$200.9M
FY2021$178.4M
FY2022$246.1M
FY2023$378.4M
FY2024$467.5M
Net assets
$890.0M
FY2024▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$697.0M
FY2021$752.0M
FY2022$764.4M
FY2023$832.0M
FY2024$890.0M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1970.

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

Who runs it and what they're paid

34 people listed on the 990; $11.9M paid to officers and key staff.

Part VII, Section A · reportable compensation
$1,594,216Pt VII · Sec A
SVP, Chro
$1,053,704Pt VII · Sec A
$670,220Pt VII · Sec A
EVP Chf Str&gwth Officer
$655,321Pt VII · Sec A
SVP, Card Services
$607,366Pt VII · Sec A
SVP, CIO
$585,139Pt VII · Sec A
$520,578Pt VII · Sec A
SVP, IT Operations
$506,806Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Timothy M Antonition$1,594,216$1,394,242$1,093,632$1,163,419$1,068,806
Linda Hart$1,053,704$506,044$310,433$303,006$220,637
Peter S Freystaetter$331,344$316,481$302,427$518,803$719,900
Shane Hoyle$670,220————
Gary Prager$655,321$469,532$289,956$294,153$214,415
Christopher Matthews$607,366$397,279$281,067$302,208$216,508
Chad Jaenke$585,139————
Heather E Hickman—$484,748$554,917$495,842$498,062

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.

See Space Coast Credit Union executive salaries →

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II6 listed

Programs and updates

Promotes thrift and provides credit through cooperative ownership and savings products.

Questions for Space Coast Credit Union

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Your first name shows with your question. Space Coast Credit Union answers here, for everyone.

3 programs · in their own filed words · FY2024
01

Consumer Loans

The credit union creates low cost sources of credit for the purposes of our members purchasing automobiles and other retail products and services used in their daily lives.

Pt IX · col B
02

Deposit/Savings Products

The credit union promotes thrift and savings by maintaining a broad array of deposit account products with low fees and high interest rates.

Pt IX · col B
03

Real Estate Loans

The credit union creates a low cost source of credit for the purposes of our members attaining home ownership.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$24K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$516.2M
Ln 12
Fees for servicesLn 2g$467.4M
Investment incomeLn 3$47.6M
Other incomeLn 4–11$1.2M
Money outPt IX
$467.5M
Ln 25
Owns and owesPt X
$890.0M
net assets · Ln 32
Cash and savingsLn 1–2$448.1M
Total assetsLn 16$8.8B
LiabilitiesLn 26$7.9B
PeoplePt VI, VII
34
listed · VII A
PaidVII A25
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$467.4M
Investment incomeLn 3$47.6M
Other incomeLn 4–11$1.2M
Total revenueLn 12$516.2M
Assets in detailPt X, end of year
CashLn 1$47.6M
SavingsLn 2$400.4M
Cash and savings togetherLn 1–2$448.1M
InvestmentsLn 11–13$497.1M
Land, buildings, equipmentLn 10c$103.7M
Other assetsLn 15$232.9M
Total assetsLn 16$8.8B
LiabilitiesLn 26$7.9B
Net assetsLn 32$890.0M
OperationsPt I, VI
EmployeesI 51,276
VolunteersI 613
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$717.9M$448.1M
InvestmentsLn 11–13$478.3M$497.1M
Land, buildings, equipmentLn 10c$96.1M$103.7M
Total assetsLn 16$8.95B$8.80B
LiabilitiesLn 26$8.11B$7.91B
Net assetsLn 32$832.0M$890.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$10.8M
Other salaries and wagesLn 7$78.8M
Pension plan contributionsLn 8$3.7M
Other employee benefitsLn 9$11.7M
Payroll taxesLn 10$5.8M
Legal feesLn 11b$1.3M
Accounting feesLn 11c$600K
Other fees for servicesLn 11g$4.5M
Office expensesLn 13$11.6M
Information technologyLn 14$14.4M
OccupancyLn 16$14.8M
TravelLn 17$985K
Conferences, conventions and meetingsLn 19$956K
InterestLn 20$167.1M
Depreciation, depletion and amortizationLn 22$7.7M
InsuranceLn 23$1.3M
Other expenses (24a–d)Ln 24$95.1M
All other expensesLn 24e$36.2M
Total functional expensesLn 25$467.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 14, 2025 $516.2M$467.5M$48.8M$890.0M 990 PDF
FY2023Filed with the IRS Nov 13, 2024 $440.8M$378.4M$62.4M$832.0M 990 PDF
FY2022Filed with the IRS Oct 31, 2023 $310.2M$246.1M$64.0M$764.4M 990 PDF
FY2021Filed with the IRS May 6, 2022 $248.5M$178.4M$70.1M$752.0M 990 PDF
FY2020Filed with the IRS May 11, 2021 $246.5M$200.9M$45.6M$697.0M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $516,242,984 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $409,934,128$467,444,945
I-10 Investment incomePrior year $30,844,478$47,622,821
I-11 Other revenuePrior year $20,400$1,175,218
I-12 Total revenuePrior year $440,799,006$516,242,984
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 $94,730,956$110,912,544
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $283,671,116$356,571,545
I-18 Total expensesPrior year $378,402,072$467,484,089
I-19 Revenue less expensesPrior year $62,396,934$48,758,895
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $516,242,984 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $466,876,077 · Unrelated business $568,868$467,444,945
VIII-3 Investment incomeExcluded from tax $47,622,821$47,622,821
VIII-6 Net rental income or lossExcluded from tax $14,400$14,400
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,160,818$1,160,818
VIII-12 Total revenueRelated to mission $466,876,077 · Unrelated business $568,868 · Excluded from tax $48,798,039$516,242,984
Part IX · Statement of functional expenses $467,484,089 across 18 lines filed
IX-5 Pay of current officers, directors and key staff$10,816,883
IX-7 Other salaries and wages$78,821,937
IX-8 Pension plan contributions$3,717,648
IX-9 Other employee benefits$11,725,113
IX-10 Payroll taxes$5,830,963
IX-11b Legal fees$1,274,524
IX-11c Accounting fees$600,000
IX-11g Other fees for services$4,493,317
IX-13 Office expenses$11,555,296
IX-14 Information technology$14,442,540
IX-16 Occupancy$14,813,604
IX-17 Travel$984,699
IX-19 Conferences, conventions and meetings$955,967
IX-20 Interest$167,141,665
IX-22 Depreciation, depletion and amortization$7,722,500
IX-23 Insurance$1,299,987
IX-24 Other expenses (24a–d)$95,114,037
IX-24e All other expenses$36,173,409
IX-25 Total functional expenses$467,484,089
Part X · Balance sheet $8,804,691,155 assets, 14 lines filed
Asset lines not itemized here account for $7,420,217,371; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $43,043,842$47,623,069
X-2 Savings and temporary cash investmentsStart of year $674,887,052$400,428,441
X-4 Accounts receivableStart of year $6,366,767$91,755,248
X-9 Prepaid expenses and deferred chargesStart of year $14,872,353$10,874,980
X-10c Land, buildings and equipment, netStart of year $96,059,997$103,708,191
X-11 Publicly traded securitiesStart of year $432,496,031$461,476,490
X-12 Other securitiesStart of year $45,850,971$35,671,070
X-15 Other assetsStart of year $237,056,632$232,936,295
X-16 Total assetsStart of year $8,946,056,038$8,804,691,155
X-17 Accounts payable and accrued expensesStart of year $114,397,663$121,684,335
X-25 Other liabilitiesStart of year $6,859,625,125$7,253,001,080
X-26 Total liabilitiesStart of year $8,114,022,788$7,914,685,415
X-32 Total net assets or fund balancesStart of year $832,033,250$890,005,740
X-33 Total liabilities and net assetsStart of year $8,946,056,038$8,804,691,155
Part XI · Reconciliation of net assets $890,005,740 net assets at year end
XI-1 Total revenue$516,242,984
XI-2 Total expenses$467,484,089
XI-3 Revenue less expenses$48,758,895
XI-4 Net assets at start of year$832,033,250
XI-5 Net unrealized gains (losses) on investments$5,298,026
XI-9 Other changes in net assets$3,915,569
XI-10 Net assets at end of year$890,005,740

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

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