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McT Credit Union FY2020 filing

Not tax-deductible

Port Neches, TXMutual-benefit / member-servingSince 1953Mutual / membership EIN 74-1255147Revenue $15.5M in FY2020Latest return filed Nov 14, 2025

On file with the IRSmctcu.org2736 Nall St, 77651-5204 · Port Neches, TXTax-exempt since Jun 1976

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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.

$855K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2020 · 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 $1.2M a year · 7% 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
$855K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
68 mo
of spending, in cash
Looks good: 67.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$326.5M
91% of total assets
Concern: liabilities are 91% 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
$15.5M
Spent
$14.4M
Net assets
$30.5M
By yearFY2020–FY2024
Revenue
$15.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$15.5M
FY2021$16.0M
FY2022$17.7M
FY2023$20.3M
FY2024$21.7M
Expenses
$14.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$14.4M
FY2021$14.6M
FY2022$16.2M
FY2023$19.3M
FY2024$20.7M
Net assets
$30.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$30.5M
FY2021$31.9M
FY2022$26.7M
FY2023$29.8M
FY2024$32.5M

From the FY2020 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: FY2024. IRS ruling in Jun 1976.

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

Who runs it and what they're paid

14 people listed on the 990; $855K paid to officers and key staff.

Part VII, Section A · reportable compensation
Thaddeus Angelle
President/CEO
$286,228Pt VII · Sec A
$165,913Pt VII · Sec A
$155,090Pt VII · Sec A
$140,219Pt VII · Sec A
Debra Crew
VP Real Estate
$107,193Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Randy Brown
Director
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Thaddeus Angelle$352,942$354,939$356,559$340,322$286,228
Chad Powell$220,488$217,899$208,210$189,441$165,913
Karen Frederick$196,088$190,435$171,497$163,323$140,219
David Fontenot——$130,809$189,360$155,090
Keith Doucet$176,115$112,872$105,324——
Kayla Allbritton$153,083————
Brandy Colunga$129,429$126,128$111,771——
Michael Frazier$127,721$116,545$108,278$103,696—

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 II3 listed

Programs and updates

Offers financial services, loans, and deposit products to members, growing membership by enhancing offerings.

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2 programs · in their own filed words · FY2020
01

The credit union had 1,012 new members join in 2020. The credit union opened 3,365 deposit accounts in 2020. 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…

Pt IX · col B
02

The credit union offers consumer loans, mortgage loans, and business loans to membership. The credit union granted 2,565 loans for $102,690,939 to its membership in 2020.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$15.5M
Ln 12
Fees for servicesLn 2g$14.0M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$430K
Money outPt IX
$14.4M
Ln 25
Owns and owesPt X
$30.5M
net assets · Ln 32
Cash and savingsLn 1–2$81.2M
Total assetsLn 16$357.0M
LiabilitiesLn 26$326.5M
PeoplePt VI, VII
14
listed · VII A
PaidVII A5
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$14.0M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$430K
Gains on assetsLn 7$39K
Total revenueLn 12$15.5M
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$78.3M
Cash and savings togetherLn 1–2$81.2M
InvestmentsLn 11–13$70.0M
Land, buildings, equipmentLn 10c$8.3M
Other assetsLn 15$7.0M
Total assetsLn 16$357.0M
LiabilitiesLn 26$326.5M
Net assetsLn 32$30.5M
OperationsPt I, VI
EmployeesI 5111
VolunteersI 69
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 FY20End FY20
Cash and savingsLn 1–2$42.0M$81.2M
InvestmentsLn 11–13$50.6M$70.0M
Land, buildings, equipmentLn 10c$7.7M$8.3M
Total assetsLn 16$300.0M$357.0M
LiabilitiesLn 26$269.5M$326.5M
Net assetsLn 32$30.5M$30.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$1.4M
Pay of current officers, directors and key staffLn 5$590K
Other salaries and wagesLn 7$4.1M
Pension plan contributionsLn 8$912K
Other employee benefitsLn 9$549K
Payroll taxesLn 10$323K
Legal feesLn 11b$60K
Accounting feesLn 11c$61K
Other fees for servicesLn 11g$580K
Office expensesLn 13$2.3M
Information technologyLn 14$618K
OccupancyLn 16$561K
Conferences, conventions and meetingsLn 19$133K
Depreciation, depletion and amortizationLn 22$532K
Other expenses (24a–d)Ln 24$1.6M
All other expensesLn 24e$92K
Total functional expensesLn 25$14.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 14, 2025 $21.7M$20.7M$1.1M$32.5M 990 PDF
FY2023Filed with the IRS Nov 14, 2024 $20.3M$19.3M$1.0M$29.8M 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $17.7M$16.2M$1.6M$26.7M 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $16.0M$14.6M$1.4M$31.9M 990 PDF
FY2020 ViewingFiled with the IRS Nov 12, 2021 $15.5M$14.4M$1.1M$30.5M 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 FY2020 990 (6 parts)
Part I · Summary $15,531,663 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $14,575,381$13,997,802
I-10 Investment incomePrior year $1,842,135$1,104,081
I-11 Other revenuePrior year $3,545$429,780
I-12 Total revenuePrior year $16,421,061$15,531,663
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $1,525,672$1,378,150
I-15 Salaries and benefitsPrior year $6,040,004$6,502,053
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $6,504,403$6,535,418
I-18 Total expensesPrior year $14,070,079$14,415,621
I-19 Revenue less expensesPrior year $2,350,982$1,116,042
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $15,531,663 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,938,162 · Unrelated business $59,640$13,997,802
VIII-3 Investment incomeExcluded from tax $1,064,779$1,064,779
VIII-7 Net gain or loss on sales of assetsExcluded from tax $39,302$39,302
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $429,780$429,780
VIII-12 Total revenueRelated to mission $14,367,942 · Unrelated business $59,640 · Excluded from tax $1,104,081$15,531,663
Part IX · Statement of functional expenses $14,415,621 across 16 lines filed
IX-4 Benefits paid to or for members$1,378,150
IX-5 Pay of current officers, directors and key staff$590,250
IX-7 Other salaries and wages$4,128,728
IX-8 Pension plan contributions$911,739
IX-9 Other employee benefits$548,755
IX-10 Payroll taxes$322,581
IX-11b Legal fees$60,251
IX-11c Accounting fees$61,456
IX-11g Other fees for services$579,948
IX-13 Office expenses$2,346,689
IX-14 Information technology$618,158
IX-16 Occupancy$561,100
IX-19 Conferences, conventions and meetings$133,334
IX-22 Depreciation, depletion and amortization$531,780
IX-24 Other expenses (24a–d)$1,550,444
IX-24e All other expenses$92,258
IX-25 Total functional expenses$14,415,621
Part X · Balance sheet $357,012,507 assets, 15 lines filed
Asset lines not itemized here account for $189,957,421; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,883,979$2,833,723
X-2 Savings and temporary cash investmentsStart of year $39,164,676$78,322,997
X-4 Accounts receivableStart of year $45,976$40,573
X-9 Prepaid expenses and deferred chargesStart of year $422,272$578,179
X-10c Land, buildings and equipment, netStart of year $7,749,175$8,310,852
X-11 Publicly traded securitiesStart of year $48,162,792$66,663,762
X-12 Other securitiesStart of year $199,713$146,925
X-13 Program-related investmentsStart of year $2,199,000$3,205,800
X-15 Other assetsStart of year $7,472,672$6,952,275
X-16 Total assetsStart of year $299,976,930$357,012,507
X-17 Accounts payable and accrued expensesStart of year $7,702,518$11,109,347
X-25 Other liabilitiesStart of year $261,796,901$315,373,631
X-26 Total liabilitiesStart of year $269,499,419$326,482,978
X-32 Total net assets or fund balancesStart of year $30,477,511$30,529,529
X-33 Total liabilities and net assetsStart of year $299,976,930$357,012,507
Part XI · Reconciliation of net assets $30,529,529 net assets at year end
XI-1 Total revenue$15,531,663
XI-2 Total expenses$14,415,621
XI-3 Revenue less expenses$1,116,042
XI-4 Net assets at start of year$30,477,511
XI-5 Net unrealized gains (losses) on investments−$1,064,023
XI-9 Other changes in net assets−$1
XI-10 Net assets at end of year$30,529,529

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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