Nonprofit · EIN 62-0695369
MEMORIAL CREDIT UNION
Tax-exempt · CHATTANOOGA, TN 37421
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $428,288 | $425,086 | $3,202 | $7,112,566 | $6,126,750 | $985,816 |
| December 31, 2024 | 990 | $406,628 | $436,035 | -$29,407 | $7,016,460 | $6,033,846 | $982,614 |
| December 31, 2023 | 990 | $382,638 | $431,697 | -$49,059 | $8,051,558 | $7,039,537 | $1,012,021 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $81,964
- Membership dues
- $81,964
- Program service revenue
- $0
- Investment income
- $92,190
- Other revenue
- $254,134
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $274,134
- Salaries, compensation and benefits (total)
- $300,163
- Professional fundraising fees
- $0
- Accounting fees
- $8,700
- Occupancy
- $16,712
- Travel
- $2,100
- Program services (functional)
- $425,086
Balance sheet and other
- Total assets, start of year
- $7,016,460
- Total assets, end of year
- $7,112,566
- Total liabilities, end of year
- $6,126,750
- Net assets, end of year
- $985,816
- Land, buildings and equipment
- $379,221
- Publicly traded securities
- $2,599,692
- Gross receipts
- $428,288
- Employees
- 4
- Year formed
- 1960
- State of legal domicile
- TN
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 |
|---|---|---|---|
| DERRICK RUMPH | CEO Highest-paid employee | 40 | $77,800 |
| BUFFY DAVIS | ASSISTANT MANAGER Key employee | 40 | $54,784 |
| GREGORY BOOTS | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 |
| DAVID DIERCKS | SECRETARY Trustee or director, Officer | 2 | $0 |
| TERRY TAGGART | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| SHAUN POPE | BOARD MEMBER AND SUPERVISORY CHAIR Trustee or director | 2 | $0 |
| KAREN SLOAN | BOARD MEMBER Trustee or director | 1 | $0 |
| KATHRYN DAVIS | TREASURER Trustee or director, Officer | 2 | $0 |
| BENJAMIN YOUNG | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DERRICK RUMPH | CEO Highest-paid employee | 40 | $76,000 |
| BUFFY DAVIS | ASSISTANT MANAGER Key employee | 40 | $53,000 |
| GREGORY BOOTS | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 |
| DAVID DIERCKS | SECRETARY Trustee or director, Officer | 2 | $0 |
| TERRY TAGGART | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| SHAUN POPE | BOARD MEMBER AND SUPERVISORY CHAIR Trustee or director | 2 | $0 |
| KAREN SLOAN | BOARD MEMBER Trustee or director | 1 | $0 |
| KATHRYN DAVIS | TREASURER Trustee or director, Officer | 2 | $0 |
| BENJAMIN YOUNG | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JENNIFER FERRIS | CEO Key employee, Highest-paid employee | 40 | $74,000 |
| BUFFY DAVIS | ASSISTANT MANAGER Key employee | 40 | $50,000 |
| GREGORY BOOTS | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 |
| DAVID DIERCKS | SECRETARY Trustee or director, Officer | 2 | $0 |
| TERRY TAGGART | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| SHAUN POPE | BOARD MEMBER AND SUPERVISORY CHAIR Trustee or director | 2 | $0 |
| KAREN SLOAN | BOARD MEMBER Trustee or director | 1 | $0 |
| KATHRYN DAVIS | TREASURER Trustee or director, Officer | 2 | $0 |
| BENJAMIN YOUNG | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 6800 LONGVIEW RD, CHATTANOOGA, TN 37421-2505
- In care of
- % BUFFY DAVIS
- Signed the 990
- BUFFY DAVIS, CFO
- Phone
- (423) 855-1770
- Website
- MEMORIALCREDITUNION.COM
- Return prepared by
- Schultz and Associates Inc
Mission
PROVIDE SERVICES FOR APPROXIMATELY 2500 MEMBERS IN FORM OF LOANS, TERM CERTIFICATES, SHARE DRAFT ACCOUNTS AND SAVINGS ACCOUNTS
Program accomplishments
- MEMORIAL CU CONFIRMS TO TRADITIONAL CU PHILOSOPHY BY ASSISTING MEMBERS IN MAKING WISE FINANCIAL DECISIONS AND STABLE SAVINGS DECISIONSExpenses $425,086
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
- 62-0695369
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1952
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1182: CREDIT UNIONS CHARTERED IN THE STATE OF TENNESSEE
- Assets (IRS master file)
- $7,112,566
- Income (IRS master file)
- $428,288
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $428,288 | $425,086 | $7,112,566 | XML |
| 990 | December 2024 | $406,628 | $436,035 | $7,016,460 | XML |
| 990 | December 2023 | $382,638 | $431,697 | $8,051,558 | XML |
| 990 | December 2022 | $326,694 | $427,706 | $8,214,571 | 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 62-0695369).
Questions about MEMORIAL CREDIT UNION
- What is the EIN of MEMORIAL CREDIT UNION?
- The employer identification number (EIN) of MEMORIAL CREDIT UNION is 62-0695369.
- Is MEMORIAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1952.
- Are donations to MEMORIAL CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MEMORIAL 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 MEMORIAL 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 MEMORIAL 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 are the officers and directors of MEMORIAL CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 9 people; 2 received compensation from the organization, the highest $77,800 (DERRICK RUMPH, CEO).
- How much revenue does MEMORIAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $428,288, expenses of $425,086 and total assets of $7,112,566 at year end.
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