Overview
What is Mass Bay Credit Union?
Mass Bay Credit Union is a financial institution based in South Boston, Massachusetts, with a mission to serve its members by offering loans and accepting deposits. As of December 31, 2022, the credit union had $261.4 million in loans outstanding from its members and $250.3 million in deposits received. The organization aims to provide the highest level of service and personal attention to its members, continuously expanding and refining its products and services to meet their evolving needs. The team at Mass Bay Credit Union consists of 71 dedicated employees.
Official website here: www.massbaycu.org
Is Mass Bay Credit Union legitimate?
Mass Bay Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Mass Bay 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: $677,186
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,448,753
For more financial information, click here
Official website here: www.massbaycu.org
What is the mission statement of Mass Bay Credit Union?
Mass Bay Credit Union is dedicated to providing top-tier financial services to its members. The institution's primary goal is to deliver personalized attention and continuously expand and refine its offerings to meet the evolving needs of its members, at competitive rates and unmatched value. Through offering loans and accepting deposits, the credit union had $261,438,938 in loans and $250,300,032 in deposits as of December 31, 2022. In essence, Mass Bay Credit Union strives to be a comprehensive financial partner, committed to improving the financial well-being of its members.
Official website here: www.massbaycu.org
Who is the CEO of Mass Bay Credit Union?
Theresa Dorilas is the President & Ceo of Mass Bay Credit Union. The CEO's salary of Mass Bay Credit Union is $291,783 and their total compensation is $358,221.
Official website here: www.massbaycu.org
What is the revenue of Mass Bay Credit Union?
Mass Bay Credit Union's revenue in 2022 was $13,969,003.
Official website here: www.massbaycu.org
Who are the executives of Mass Bay Credit Union and what are their salaries?
The average compensation at Mass Bay Credit Union during 2022 was $44,027. There are 71 employees and 15 volunteers at Mass Bay Credit Union.
Here are 20 key members and their salaries (Mass Bay Credit Union's CEO's salary is $291,783 and their total compensation is $358,221):
- Compensation: $291,783
- Related: $0
- Other: $66,438
- Compensation: $183,455
- Related: $0
- Other: $58,783
- Compensation: $59,928
- Related: $0
- Other: $11,217
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $256
- Compensation: $0
- Related: $0
- Other: $250
- Compensation: $0
- Related: $0
- Other: $83
- Compensation: $0
- Related: $0
- Other: $128
- Compensation: $0
- Related: $0
- Other: $256
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
- Compensation: $0
- Related: $0
- Other: $384
Official website here: www.massbaycu.org
Where can I find the form 990 for Mass Bay Credit Union?
Mass Bay Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.massbaycu.org
Learn more at the official website: www.massbaycu.org
Mission Statement of Mass Bay Credit Union
Mass Bay Credit Union, a leading financial institution, is committed to delivering exceptional service and personal attention to all its members. With a mission to constantly expand and refine their offerings, they aim to meet the diverse needs of their members at competitive rates and unmatched value.
At the heart of Mass Bay Credit Union's operations is a dedication to providing financial services that cater to the requirements of its members. This is evident in the significant loan balances of $261,438,938 and deposits of $250,300,032 reported as of December 31, 2022. As a full-service financial institution, Mass Bay Credit Union offers a range of loan and deposit services, allowing its members to manage their finances effectively and efficiently.
Mass Bay Credit Union stands out for its unwavering dedication to its members. By focusing on personalized attention and responsiveness, they have built a strong reputation for excellence in the financial industry. Whether it's helping members secure a loan to achieve their financial goals or offering competitive savings options, Mass Bay Credit Union strives to provide the best possible solutions to meet the unique needs of each member.
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Impact
October, 2024
Mass Bay Credit Union significantly impacts the financial well-being of its members and the community at large by providing essential financial services that promote economic stability and growth. By offering access to loans and accepting deposits, the credit union facilitates financial opportunities for individuals and families, allowing them to achieve their personal and financial goals.
With over $261 million in loans due from members and deposits exceeding $250 million as of the end of 2022, Mass Bay Credit Union plays a crucial role in supporting local economic activity. It prioritizes high-quality service and personal attention, ensuring that members receive tailored financial solutions that meet their unique needs. This commitment to service excellence not only enhances member satisfaction but also fosters trust and loyalty.
The credit union's mission to continually refine its products and services positions it to adapt to the evolving needs of its members, offering competitive rates and delivering unmatched value. Through these efforts, Mass Bay Credit Union not only contributes to individual financial empowerment but also reinforces the overall economic vitality of the South Boston community and beyond.
This information is meant to be a general summary of Mass Bay 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: $768,604
- Program Service Revenue: $12,082,362
- Gross Receipts: $13,969,003
Assets and Liabilities:
- Total Assets: $324,262,478
- Total Liabilities: $294,622,214
- Net Assets: $29,640,264
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INCOME
Revenue
$9,616,303
FEES ON ACCOUNTS
Revenue
$2,031,614
OTHER INCOME
Revenue
$434,445
Organization Details
Founding Year
1936
Phone
(617) 269-2700Principal Officer
Theresa Dorilas
Main Address
147 WEST FOURTH STREET, SOUTH BOSTON, MA, 02127
Website
www.massbaycu.orgNTEE Category
Code: W60 - Public benefit
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