Nonprofit · EIN 36-2334218
GENERATIONS CREDIT UNION
Tax-exempt · ROCKFORD, IL 61108
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,254,728 | $1,096,106 | $158,622 | $22,397,067 | $18,825,032 | $3,572,035 |
| December 31, 2024 | 990 | $1,162,673 | $1,126,847 | $35,826 | $22,538,928 | $19,125,517 | $3,413,411 |
| December 31, 2023 | 990 | $989,125 | $887,601 | $101,524 | $22,011,632 | $18,634,045 | $3,377,587 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $860,579
- Investment income
- $394,149
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $110,700
- Other salaries and wages
- $216,345
- Salaries, compensation and benefits (total)
- $404,707
- Professional fundraising fees
- $0
- Legal fees
- $9,722
- Accounting fees
- $33,523
- Occupancy
- $84,008
- Depreciation
- $56,539
- Program services (functional)
- $1,096,106
Balance sheet and other
- Total assets, start of year
- $22,538,927
- Total assets, end of year
- $22,397,067
- Total liabilities, end of year
- $18,825,032
- Net assets, end of year
- $3,572,035
- Land, buildings and equipment
- $823,709
- Publicly traded securities
- $111,606
- Gross receipts
- $1,254,728
- Employees
- 7
- Volunteers
- 10
- Year formed
- 1944
- State of legal domicile
- IL
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Karen Jurasek | President - Treasurer Officer | 45 | $99,317 | $11,058 |
| Dale Hillers | Chairman of the Board Trustee or director | 2 | $0 | $0 |
| Robert Boyd | Board Member Trustee or director | 2 | $0 | $0 |
| Joanna Peterson | Secretary Trustee or director | 2 | $0 | $0 |
| Randall Freding | Board Member Trustee or director | 2 | $0 | $0 |
| Gary Askegaard | Board Member Trustee or director | 2 | $0 | $0 |
| Jolene Unangst | Board Member Trustee or director | 2 | $0 | $0 |
| Donald Fiedler | Board Vice-Chairman Trustee or director | 2 | $0 | $0 |
| Christopher Dausman | Board Member Trustee or director | 0 | $0 | $0 |
| Ethan Watts | Board Member Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Karen Jurasek | President - Treasurer Officer | 45 | $91,819 | $6,986 |
| Dale Hillers | Chairman of the Board Trustee or director | 2 | $0 | $0 |
| Robert Boyd | Board Member Trustee or director | 2 | $0 | $0 |
| Joanna Peterson | Secretary Trustee or director | 2 | $0 | $0 |
| Randall Freding | Board Member Trustee or director | 2 | $0 | $0 |
| Gary Askegaard | Board Member Trustee or director | 2 | $0 | $0 |
| Jolene Unangst | Board Member Trustee or director | 2 | $0 | $0 |
| Peter Giacommazzo | Board Member Trustee or director | 2 | $0 | $0 |
| Donald Fiedler | Board Vice-Chairman Trustee or director | 2 | $0 | $0 |
| Christopher Dausman | Board Member Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Karen Jurasek | President - Treasurer Trustee or director, Officer | 45 | $88,810 | $7,874 |
| Dale Hillers | Chairman of the Board Trustee or director | 2 | $0 | $0 |
| Robert Boyd | Board Member Trustee or director | 2 | $0 | $0 |
| Joanna Peterson | Secretary Trustee or director | 2 | $0 | $0 |
| Randall Freding | Board Member Trustee or director | 2 | $0 | $0 |
| Gary Askegaard | Board Member Trustee or director | 2 | $0 | $0 |
| Jolene Unangst | Board Member Trustee or director | 2 | $0 | $0 |
| Peter Giacommazzo | Board Member Trustee or director | 2 | $0 | $0 |
| Donald Fiedler | Board Vice-Chairman Trustee or director | 2 | $0 | $0 |
| Anita Rumage | Board Member Trustee or director | 2 | $0 | $0 |
| Christopher Dausman | Board Member Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 5618 HARRISON AVE, ROCKFORD, IL 61108-8110
- In care of
- % KAREN JURASEK
- Principal officer (990 for 2025)
- Karen Jurasek, 5618 Harrison Ave, Rockford, IL 611088110
- Signed the 990
- Karen Jurasek, President
- Phone
- (815) 316-2900
- Website
- www.generationscu.org
Mission
To provide to our members high quality full line of financial services, such as loans and savings accounts at the lowest cost and highest rate of return, delivered in a personal, friendly atmosphere.
Program accomplishments
- Provided a Christmas savings plan, Fortune Fund accounts and Vacation club accounts to 510 members. Provided checking accounts to 794 members and IRAs and Certificate of Deposit accounts to 191 members. Received deposits on share accounts from 1,659 members resulting in a total balance on deposit of $18,642,188.Expenses $1,096,106
- Returned 17.3% of gross income to members as dividends to their savings accounts.
- Provided credit to members using various loan programs: real estate (first mortgage and home equity) loans, personal (unsecured) loans, and new and used vehicle loans. There was a total number of 502 loans granted to members throughout the year that amounted to $2,523,915. Further, 208 members have a VISA credit card at their disposal with a total credit line of $2,068,350.
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 36-2334218
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $22,397,067
- Income (IRS master file)
- $1,254,728
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,254,728 | $1,096,106 | $22,397,067 | IRS |
| 990 | December 2024 | $1,162,673 | $1,126,847 | $22,538,928 | IRS |
| 990 | December 2023 | $989,125 | $887,601 | $22,011,632 | XML |
| 990 | December 2022 | $938,123 | $836,340 | $21,406,121 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 36-2334218).
Questions about GENERATIONS CREDIT UNION
- What is the EIN of GENERATIONS CREDIT UNION?
- The employer identification number (EIN) of GENERATIONS CREDIT UNION is 36-2334218.
- Is GENERATIONS CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
- Are donations to GENERATIONS CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does GENERATIONS 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 GENERATIONS CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GENERATIONS CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of GENERATIONS CREDIT UNION?
- The 990 for the year ended December 31, 2025 names Karen Jurasek.
- Who are the officers and directors of GENERATIONS CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 10 people; 1 received compensation from the organization, the highest $99,317 (Karen Jurasek, President - Treasurer).
- How much revenue does GENERATIONS CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,254,728, expenses of $1,096,106 and total assets of $22,397,067 at year end.
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