Overview
What is Orlex Government Employees Credit Union?
Orlex Government Employees Credit Union, established in 1953, is a nonprofit financial institution situated in Newport, Vermont. With a membership of 1,334 individuals, the credit union offers various savings and borrowing options to its members. The credit union manages a total of 1,720 savings, clubs, and money market accounts, along with 170 certificates of deposit (CDs). The savings account holds an aggregate total of $3,306,925, while the clubs account boasts $5,006, and the money market accounts amount to $279,103. The certificates of deposit account holds a significant sum of $2,036,675. Orlex Government Employees Credit Union's primary mission is to offer thrift savings and borrowing services, as well as other financial services, to its members.
Official website here: www.orlex.com
Is Orlex Government Employees Credit Union legitimate?
Orlex Government Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Orlex Government Employees Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $174,124
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.orlex.com
What is the mission statement of Orlex Government Employees Credit Union?
Orlex Government Employees Credit Union's mission is centered around serving its members. The primary objective is to facilitate savings and lending opportunities, while also offering a range of additional financial services. With over 1,300 members since its establishment in 1953, the credit union has accumulated significant savings, club funds, money market accounts, and certificates of deposit, totaling over $3.3 million in savings, $5,006 in club funds, $279,103 in money market accounts, and $2,036,675 in certificates of deposit. The credit union's purpose is to provide these financial services to its members, aiming to support their financial well-being.
Official website here: www.orlex.com
Who is the CEO of Orlex Government Employees Credit Union?
Jennie A Dion is the President of Orlex Government Employees Credit Union. The CEO's salary of Orlex Government Employees Credit Union is $0 and their total compensation is $0.
Official website here: www.orlex.com
What is the revenue of Orlex Government Employees Credit Union?
Orlex Government Employees Credit Union's revenue in 2022 was $407,749.
Official website here: www.orlex.com
Who are the executives of Orlex Government Employees Credit Union and what are their salaries?
The average compensation at Orlex Government Employees Credit Union during 2022 was $58,041. There are 3 employees and 7 volunteers at Orlex Government Employees Credit Union.
Here are 10 key members and their salaries (Orlex Government Employees Credit Union's CEO's salary is $0 and their total compensation is $0):
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Official website here: www.orlex.com
Where can I find the form 990 for Orlex Government Employees Credit Union?
Orlex Government Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.orlex.com
Learn more at the official website: www.orlex.com
Mission Statement of Orlex Government Employees Credit Union
Orlex Government Employees Credit Union is committed to serving its members by offering them opportunities for thrift savings and borrowing, as well as various other financial services. This mission is encapsulated in their statement, "To provide thrift savings and borrowing to our members and to provide other financial services." By focusing on savings and borrowing, the credit union aims to help its members accumulate funds and access loans when needed. The credit union offers a range of savings options, including clubs and money markets, and has 1,334 members who have been saving with them since 1953. The total savings amount stands at $3,306,925, with clubs contributing $5,006 and money markets adding $279,103. Additionally, the credit union provides Certificates of Deposit (CDs) with a total value of $2,036,675. This mission to provide financial services and aid in savings and borrowing demonstrates Orlex Government Employees Credit Union's dedication to supporting its members' financial well-being.
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Impact
October, 2024
Orlex Government Employees Credit Union plays a significant role in fostering financial stability and growth within its community. By offering savings accounts, certificates of deposit (CDs), and various financial services, it supports its 1,334 members in achieving their financial goals since its establishment in 1953. The credit union has amassed substantial funds: $3,306,925 in savings, along with additional assets in CDs ($2,036,675), money markets ($279,103), and club accounts ($5,006).
This financial support system enables members to build savings, invest for the future, and access borrowing options tailored to their needs. With a focus on thrift savings, Orlex enhances the economic well-being of its members in Newport, Vermont, contributing positively to the local economy and community resilience. By prioritizing the financial health of government employees and their families, Orlex Government Employees Credit Union reinforces the importance of accessible financial services in promoting public benefit.
This information is meant to be a general summary of Orlex Government Employees Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $6,889
- Program Service Revenue: $398,004
- Gross Receipts: $407,749
Assets and Liabilities:
- Total Assets: $7,364,536
- Total Liabilities: $6,590,850
- Net Assets: $773,686
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$362,920
PROGRAM SERVICE FEES
Revenue
$28,954
OTHER PROGRAM FEES
Revenue
$6,130
Organization Details
Founding Year
1953
Phone
(802) 334-5084Principal Officer
Jennie A Dion
Main Address
5043 US ROUTE 5, NEWPORT, VT, 05855
Website
www.orlex.comNTEE Category
Code: W60 - Public benefit
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