Heartland Credit Union
Nonprofit profile at a glance
- EIN
- 370665733
- IRS 990 coverage
- 2010–2025
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2025
- Location
- Springfield, IL, US
- Phone
- 1-800-397-9595; 217-726-8877
- Rating
- 48
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $33,526,380
- Expenses
- $23,887,953
- Assets
- $554,822,986
- Liabilities
- $480,979,324
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- THOMAS LEX (PRESIDENT/CEO)
Highest reported compensation
- THOMAS LEX (PRESIDENT/CEO): $461,192 total reported compensation
- TATE HARTMAN (CERTIFIED FINANCIAL PLANNER): $297,624 total reported compensation
- KATIE PATSCHE (CHIEF LENDING OFFICER): $227,348 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To assist our members in the management of their financial well-being by providing loans, savings accounts and other financial services in a friendly and professional manner. Heartland Credit Union is committed to improving and sustaining its local communities and continues to take an active role in both the communities it serves and the credit union industry to which it belongs. Because we are entrusted with safeguarding our member’s money, we are responsible to make prudent decisions regarding our corporate citizenship efforts. Requests for assistance must quantify the benefits the contributions will provide to the recipient(s) and the community in general. Heartland Credit Union annually sets aside funds to support its community outreach program and selects projects that will provide the greatest value to the largest majority. If you have a donation request, p.
What it reported doing in 2025
Receives deposits on savings and checking accounts from members.
Operating model
- Revenue model
- Other-operating. 82% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 82
- Accountability: 82
- Sustainability: 72
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 28.7%; rating input score 83; 83rd percentile among comparable filings
- Total-asset coverage ratio: 23.23; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.87; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 8.9%; rating input score 30; 30th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 7.9% per year; rating input score 100; 63rd percentile among comparable filings
- Asset growth: 6.9% per year; rating input score 100; 50th percentile among comparable filings
Details
- What they do: 8 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 9 of 9 board members independent · 5 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $461K · 19 people listed · 4 of 6 pay-setting controls reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 16 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 19 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 30/100.