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IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 03-6008252

ONE CREDIT UNION

Tax-exempt · SPRINGFIELD, VT 05156

Financials

$14.1M$13.4M2023$15.4M$15.7M2024
Revenue Expenses · by fiscal year end
Financials of ONE CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$15,425,844$15,723,923-$298,079$259,160,000$244,055,244$15,104,756
December 31, 2023990$14,131,695$13,373,646$758,049$245,207,861$230,160,480$15,047,381
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$13,642,300
Investment income
$1,747,844
Net rental income
$35,700
Other revenue
$35,700

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$3,272,377
Compensation of officers, directors and key employees
$797,579
Other salaries and wages
$3,094,835
Salaries, compensation and benefits (total)
$5,301,957
Professional fundraising fees
$0
Legal fees
$239,680
Accounting fees
$14,593
Occupancy
$375,224
Travel
$111,153
Depreciation
$534,312
Program services (functional)
$15,723,923

Balance sheet and other

Total assets, start of year
$245,207,861
Total assets, end of year
$259,160,000
Total liabilities, end of year
$244,055,244
Net assets, end of year
$15,104,756
Land, buildings and equipment
$8,247,545
Publicly traded securities
$32,704,421
Gross receipts
$15,425,844
Employees
75
Volunteers
31
Year formed
1952
State of legal domicile
VT

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.

NameTitleHours / weekCompensationOther / benefits
BRETT A SMITHCEO
Officer
45$282,125$282,125
DAVID MACLEANCFO
Officer
45$193,606$193,606
NATHAN D COBBCOO
Officer
45$171,338$171,338
RANDY BUTLERSVP OF RETAIL
Officer
45$150,509$150,509
JEFF TAFTCHAIRMAN/BOARD OF DIRECTORS
Trustee or director
3$0$0
JACK MITCHELLVICE CHAIR/DIRECTOR
Officer
3$0$0
ROBERT REARDONTREASURER/DIRECTOR
Officer
3$0$0
BENJAMIN DRUGGSECREATRY/DIRECTOR
Officer
3$0$0
JOHN PADGETTDIRECTOR
Officer
3$0$0
TIMOTHY ANDERSONDIRECTOR
Officer
3$0$0
MEGHAN HANSONDIRECTOR
Officer
3$0$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensation
BRETT A SMITHCEO
Officer
45$287,021
DAVID MACLEANCFO
Officer
45$174,486
NATHAN D COBBCOO
Officer
45$163,567
RANDY BUTLERSVP OF RETAIL
Key employee
45$135,008
JEFF TAFTCHAIRMAN/BOARD OF DIRECTORS
Trustee or director
3$0
JACK MITCHELLVICE CHAIR/DIRECTOR
Trustee or director
3$0
ROBERT REARDONTREASURER/DIRECTOR
Trustee or director
3$0
BENJAMIN DRUGGSECREATRY/DIRECTOR
Officer
3$0
JOHN PADGETTDIRECTOR
Officer
3$0
TIMOTHY ANDERSONDIRECTOR
Officer
3$0
MEGHAN HANSONDIRECTOR
Officer
3$0
DENISE MYERSDIRECTOR
Officer
3$0

Address and contacts

Address (IRS master file)
380 RIVER STREET, SPRINGFIELD, VT 05156-2245
In care of
% RHODA STEVENS
Principal officer (990 for 2024)
BRETT SMITH, 380 RIVER STREET, SPRINGFIELD, VT 05156
Signed the 990
DAVID MACLEAN, CHIEF FINANCIAL OFFICER
Phone
(802) 886-4228

Mission

THE PURPOSE OF THIS CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS BY AFFORDING THEM AN OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS, TO CREATE FOR THEM A SOURCE OF CREDIT FOR PROVIDENT OR PRODUCTIVE PURPOSES AT A REASONABLE RATE OF INTEREST, AND TO PROVIDE THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY FOR THEIR MUTUAL BENEFIT.

990 for the year ended December 31, 2024

Program accomplishments

  • THE PURPOSE OF THIS CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS BY AFFORDING THEM AN OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS, TO CREATE FOR THEM A SOURCE OF CREDIT FOR PROVIDENT OR PRODUCTIVE PURPOSES AT A REASONABLE RATE OF INTEREST, AND TO PROVIDE THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY FOR THEIR MUTUAL BENEFIT.
    Expenses $15,723,923

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
03-6008252
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1987
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$259,160,000
Income (IRS master file)
$15,425,844

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$15,425,844$15,723,923$259,160,000XML
990December 2023$14,131,695$13,373,646$245,207,861XML
990December 2022$11,338,999$9,466,832$245,966,696IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––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 03-6008252).

Questions about ONE CREDIT UNION

What is the EIN of ONE CREDIT UNION?
The employer identification number (EIN) of ONE CREDIT UNION is 03-6008252.
Is ONE CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1987.
Are donations to ONE CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does ONE 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 ONE 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 ONE 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 ONE CREDIT UNION?
The 990 for the year ended December 31, 2024 names BRETT SMITH.
Who are the officers and directors of ONE CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 11 people; 4 received compensation from the organization, the highest $282,125 (BRETT A SMITH, CEO).
How much revenue does ONE CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $15,425,844, expenses of $15,723,923 and total assets of $259,160,000 at year end.

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