Nonprofit · EIN 37-0902576
AREA EDUCATIONAL CREDIT UNION
Tax-exempt · MATTOON, IL 61938
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,530,552 | $1,309,369 | $221,183 | $31,896,463 | $25,254,126 | $6,642,337 |
| December 31, 2024 | 990 | $1,398,382 | $1,182,850 | $215,532 | $30,134,616 | $23,713,462 | $6,421,154 |
| December 31, 2023 | 990 | $1,134,201 | $880,576 | $253,625 | $29,898,349 | $23,692,727 | $6,205,622 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $790,747
- Investment income
- $739,805
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $159,644
- Other salaries and wages
- $173,935
- Salaries, compensation and benefits (total)
- $372,963
- Professional fundraising fees
- $0
- Legal fees
- $1,255
- Accounting fees
- $14,700
- Occupancy
- $39,088
- Travel
- $1,626
- Depreciation
- $9,828
Balance sheet and other
- Total assets, start of year
- $30,134,616
- Total assets, end of year
- $31,896,463
- Total liabilities, end of year
- $25,254,126
- Net assets, end of year
- $6,642,337
- Land, buildings and equipment
- $311,611
- Gross receipts
- $1,530,552
- Employees
- 6
- Volunteers
- 10
- Year formed
- 1960
- 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 |
|---|---|---|---|---|
| KERRY FEARN | PRESIDENT Trustee or director, Officer | 50 | $128,362 | $31,282 |
| J MICHAEL COFFMAN | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| JEREMY DOUGHTY | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| AMANDA GIBSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARILYN KAYE HONN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRENDA JONES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUE MCDOWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRAD OSBORNE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KYLE PERRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT RHINE | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KERRY FEARN | PRESIDENT Trustee or director, Officer | 50 | $118,736 | $31,344 |
| J MICHAEL COFFMAN | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| JEREMY DOUGHTY | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| AMANDA GIBSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARILYN KAYE HONN | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| BRENDA JONES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUE MCDOWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRAD OSBORNE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KYLE PERRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT RHINE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN M SWICK | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KERRY FEARN | PRESIDENT Trustee or director, Officer | 50 | $113,784 | $31,236 |
| J MICHAEL COFFMAN | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| JEREMY DOUGHTY | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| AMANDA GIBSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARILYN KAYE HONN | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| W MAX JAEGER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRENDA JONES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUE MCDOWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRAD OSBORNE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KYLE PERRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN M SWICK | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 812 CHARLESTON AVE, MATTOON, IL 61938-4203
- Principal officer (990 for 2025)
- KERRY FEARN, 812 CHARLESTON AVE, MATTOON, IL 61938
- Signed the 990
- KERRY FEARN, PRESIDENT
- Phone
- (217) 234-7817
- Website
- MYAECU.COM
Mission
TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVING ACCOUNTS AND OTHER FINANCIAL INSTITUTION SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Program accomplishments
- PROVIDED CONSUMER LOANS TO 827 MEMBERS
- RECEIVED DEPOSITS FROM 2,325 MEMBERS
- PROVIDED IRA SERVICES TO 69 MEMBERS
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
- 37-0902576
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1960
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $31,896,463
- Income (IRS master file)
- $1,530,552
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,530,552 | $1,309,369 | $31,896,463 | IRS |
| 990 | December 2024 | $1,398,382 | $1,182,850 | $30,134,616 | IRS |
| 990 | December 2023 | $1,134,201 | $880,576 | $29,898,349 | XML |
| 990 | December 2022 | $826,149 | $689,539 | $30,694,267 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 37-0902576).
Questions about AREA EDUCATIONAL CREDIT UNION
- What is the EIN of AREA EDUCATIONAL CREDIT UNION?
- The employer identification number (EIN) of AREA EDUCATIONAL CREDIT UNION is 37-0902576.
- Is AREA EDUCATIONAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1960.
- Are donations to AREA EDUCATIONAL CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does AREA EDUCATIONAL 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 AREA EDUCATIONAL 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 AREA EDUCATIONAL 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 AREA EDUCATIONAL CREDIT UNION?
- The 990 for the year ended December 31, 2025 names KERRY FEARN.
- Who are the officers and directors of AREA EDUCATIONAL CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 10 people; 1 received compensation from the organization, the highest $128,362 (KERRY FEARN, PRESIDENT).
- How much revenue does AREA EDUCATIONAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,530,552, expenses of $1,309,369 and total assets of $31,896,463 at year end.
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