Memorial Credit Union

Not tax-deductible

Houston, TXMutual-benefit / member-servingSince 1953Mutual / membership EIN 74-1240617Revenue $6.3M in FY2025

On file with the IRSmemorialcu.org7789 Southwest Fwy Ste 175, 77074-1831 · Houston, TXTax-exempt since Jun 1976

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Our mission is to grow the financial health of our members and their families for years to come, starting with how we can help them today.

Run by 7 volunteers and 29 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · 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
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
5 of 6
filings with a surplus
Average surplus $280K a year · 4% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$619K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
24 mo
of spending, in cash
Looks good: 24.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$78.3M
89% of total assets
Concern: liabilities are 89% 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
$6.3M
-5% vs prior year
Spent
$6.6M
Net assets
$9.4M
By yearFY2020–FY2025
Revenue
$6.3M
FY2025▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.9M
FY2021$5.8M
FY2022$6.3M
FY2023$6.5M
FY2024$6.7M
FY2025$6.3M
Expenses
$6.6M
FY2025▼ -1.0%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.7M
FY2021$5.5M
FY2022$5.4M
FY2023$6.1M
FY2024$6.6M
FY2025$6.6M
Net assets
$9.4M
FY2025▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$8.0M
FY2021$8.3M
FY2022$9.2M
FY2023$9.5M
FY2024$9.6M
FY2025$9.4M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1976.

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

Who runs it and what they're paid

11 people listed on the 990; $619K paid to officers and key staff.

Part VII, Section A · reportable compensation
$201,775Pt VII · Sec A
$158,697Pt VII · Sec A
VP of Lending
$132,811Pt VII · Sec A
VP of Collections
$125,364Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
Board Treasurer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Thomas Rogers$201,775$195,053$189,708$181,053$167,779$143,418
Robyn Olive$158,697$153,169$145,931$137,999$129,054$115,227
Tricia Macaulay$132,811$127,295$121,897$115,406$106,672—
Anthony Julian$125,364$123,302$113,353$111,108$103,767—

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II11 listed

Programs and updates

Provides financial services and savings opportunities to members.

Questions for Memorial Credit Union

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Provided by the organization

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3 programs · $4.3M · in their own filed words · FY2025
01

Share Account

Credit union's share account offer advantages to members of all ages, credit union had 9,902 members as of december 31, 2025. Members savings account pay monthly dividends. Members can use the home banking and mobile banking to check their ACCOUNTS.THE branch network and atm's are worldwide.

$2.8Mprogram expense
02

Loan

Credit union has provided vehicle loans since its early years. Other product lines now includes efficient underwriting and flexible offerings for recreational vehicles, boat and motorcycles. Members can have payment protection available on any of these loan types.

$1.2Mprogram expense
03

Checking Account

Credit union provides checking accounts for members with various features from free checking account to those with enhanced benefits. Most offer dividends that pay monthly. The credit union extends these accounts to all the members with free debit card, online banking access, mobile app, free remote deposit and bill pay services.

$298Kprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$6.3M
Ln 12
Fees for servicesLn 2g$5.2M
Other incomeLn 4–11$631K
Investment incomeLn 3$477K
Money outPt IX
$6.6M
Ln 25
Owns and owesPt X
$9.4M
net assets · Ln 32
Cash and savingsLn 1–2$13.4M
Total assetsLn 16$87.7M
LiabilitiesLn 26$78.3M
PeoplePt VI, VII
11
listed · VII A
PaidVII A4
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$5.2M
Investment incomeLn 3$477K
Other incomeLn 4–11$631K
Gains on assetsLn 7$0
Total revenueLn 12$6.3M
Assets in detailPt X, end of year
CashLn 1$1.8M
SavingsLn 2$11.5M
Cash and savings togetherLn 1–2$13.4M
InvestmentsLn 11–13$2.0M
Land, buildings, equipmentLn 10c$275K
Other assetsLn 15$710K
Total assetsLn 16$87.7M
LiabilitiesLn 26$78.3M
Net assetsLn 32$9.4M
OperationsPt I, VI
EmployeesI 529
VolunteersI 67
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 FY25End FY25
Cash and savingsLn 1–2$12.8M$13.4M
InvestmentsLn 11–13$2.8M$2.0M
Land, buildings, equipmentLn 10c$105K$275K
Total assetsLn 16$93.4M$87.7M
LiabilitiesLn 26$83.8M$78.3M
Net assetsLn 32$9.6M$9.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$539K
Other salaries and wagesLn 7$1.8M
Other employee benefitsLn 9$327K
Payroll taxesLn 10$124K
Advertising and promotionLn 12$414K
Office expensesLn 13$506K
Information technologyLn 14$1.9M
OccupancyLn 16$424K
TravelLn 17$1K
Other expenses (24a–d)Ln 24$608K
Total functional expensesLn 25$6.6M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $6.3M$6.6M−$234K$9.4M 990 PDF
FY2024 $6.7M$6.6M$69K$9.6M 990 PDF
FY2023 $6.5M$6.1M$399K$9.5M 990 PDF
FY2022 $6.3M$5.4M$917K$9.2M 990 PDF
FY2021 $5.8M$5.5M$259K$8.3M 990 PDF
FY2020 $5.9M$5.7M$271K$8.0M 990 PDF

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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 FY2025 990 (6 parts)
Part I · Summary $6,329,807 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $5,444,091$5,221,955
I-10 Investment incomePrior year $579,926$477,280
I-11 Other revenuePrior year $673,507$630,572
I-12 Total revenuePrior year $6,697,524$6,329,807
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $904,800$538,611
I-15 Salaries and benefitsPrior year $2,149,273$2,217,755
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,574,351$3,807,811
I-18 Total expensesPrior year $6,628,424$6,564,177
I-19 Revenue less expensesPrior year $69,100−$234,370
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,329,807 across 7 lines filed
Lines not itemized here account for $630,572 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,221,955 · Unrelated business $0 · Excluded from tax $0$5,221,955
VIII-3 Investment incomeRelated to mission $477,280 · Unrelated business $0 · Excluded from tax $0$477,280
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $6,329,807 · Unrelated business $0 · Excluded from tax $0$6,329,807
Part IX · Statement of functional expenses $6,564,177 across 10 lines filed
IX-4 Benefits paid to or for members$538,611
IX-7 Other salaries and wages$1,767,671
IX-9 Other employee benefits$326,510
IX-10 Payroll taxes$123,574
IX-12 Advertising and promotion$414,088
IX-13 Office expenses$505,756
IX-14 Information technology$1,854,554
IX-16 Occupancy$424,335
IX-17 Travel$1,148
IX-24 Other expenses (24a–d)$607,930
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$6,564,177
Part X · Balance sheet $87,687,672 assets, 15 lines filed
Asset lines not itemized here account for $70,290,566; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,323,590$1,827,552
X-2 Savings and temporary cash investmentsStart of year $10,439,935$11,527,889
X-9 Prepaid expenses and deferred chargesStart of year $938,584$1,057,505
X-10c Land, buildings and equipment, netStart of year $105,058$274,638
X-12 Other securitiesStart of year $2,750,000$2,000,000
X-15 Other assetsStart of year $736,046$709,522
X-16 Total assetsStart of year $93,440,654$87,687,672
X-17 Accounts payable and accrued expensesStart of year $380,613$408,728
X-24 Unsecured notes and loans payableStart of year $1,988,000$1,494,606
X-25 Other liabilitiesStart of year $80,681,106$75,688,250
X-26 Total liabilitiesStart of year $83,840,973$78,322,361
X-27 Net assets without donor restrictionsStart of year $9,599,681$9,365,311
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $9,599,681$9,365,311
X-33 Total liabilities and net assetsStart of year $93,440,654$87,687,672
Part XI · Reconciliation of net assets $9,365,311 net assets at year end
XI-1 Total revenue$6,329,807
XI-2 Total expenses$6,564,177
XI-3 Revenue less expenses−$234,370
XI-4 Net assets at start of year$9,599,681
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$9,365,311

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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