Overview
What is First Priority Credit Union?
First Priority Credit Union, located in East Boston, Massachusetts, primarily focuses on the maintenance of its members' share and deposit accounts, ensuring their interest is paid regularly. Beyond this, the credit union also engages in lending and investing members' deposits at market interest rates. With a total workforce of 33 employees, First Priority Credit Union plays an essential role in the financial well-being of its members, providing them with reliable banking services.
Official website here: www.firstprioritycu.com
Is First Priority Credit Union legitimate?
First Priority Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. First Priority 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,266,404
For more financial information, click here
Official website here: www.firstprioritycu.com
What is the mission statement of First Priority Credit Union?
First Priority Credit Union's mission is centered around managing and maintaining member savings and deposit accounts, while also generating interest for its members. Additionally, the credit union engages in lending and investing member deposits at market rates. This financial institution aims to utilize its members' deposits effectively, providing them with competitive returns while also offering them credit opportunities. Overall, First Priority Credit Union's mission is to serve its members by providing secure and profitable financial services.
Official website here: www.firstprioritycu.com
Who is the CEO of First Priority Credit Union?
Rahul Kachru is the President of First Priority Credit Union.
Official website here: www.firstprioritycu.com
What is the revenue of First Priority Credit Union?
First Priority Credit Union's revenue in 2020 was $3,753,355.
Official website here: www.firstprioritycu.com
Who are the executives of First Priority Credit Union and what are their salaries?
The average compensation at First Priority Credit Union during 2020 was $38,376. There are 33 employees at First Priority Credit Union.
Here are 14 key members and their salaries:
- Compensation: $147,578
- Related: $0
- Other: $0
- Compensation: $145,151
- Related: $0
- Other: $0
- Compensation: $143,505
- Related: $0
- Other: $0
- Compensation: $136,473
- Related: $0
- Other: $0
- Compensation: $8,257
- Related: $0
- Other: $0
- Compensation: $8,146
- Related: $0
- Other: $0
- Compensation: $7,688
- Related: $0
- Other: $0
- Compensation: $7,663
- Related: $0
- Other: $0
- Compensation: $7,404
- Related: $0
- Other: $0
- Compensation: $7,303
- Related: $0
- Other: $0
- Compensation: $6,754
- Related: $0
- Other: $0
- Compensation: $5,567
- Related: $0
- Other: $0
- Compensation: $5,432
- Related: $0
- Other: $0
- Compensation: $4,772
- Related: $0
- Other: $0
Official website here: www.firstprioritycu.com
Where can I find the form 990 for First Priority Credit Union?
First Priority Credit Union's most recent form 990 was submitted in 2020 and can be accessed here.
Official website here: www.firstprioritycu.com
Learn more at the official website: www.firstprioritycu.com
Mission Statement of First Priority Credit Union
First Priority Credit Union, as outlined in its mission, is committed to maintaining the well-being of its members' share and deposit accounts. This involves ensuring the regular payment of interest on these accounts. Beyond this, the credit union also engages in lending and investing of its members' deposits, utilizing market interest rates. In essence, First Priority Credit Union serves to manage and grow its members' financial investments, providing a return on their deposits and facilitating lending opportunities at competitive rates.
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Impact
October, 2024
First Priority Credit Union plays a vital role in the financial well-being of its members in East Boston, MA. By maintaining member share and deposit accounts and offering competitive interest rates, it ensures that individuals and families have a secure place for their savings. This focus on account maintenance not only promotes financial stability but also fosters a sense of community among members.
Additionally, First Priority Credit Union actively engages in lending and investing member deposits at market interest rates. This approach not only supports the financial aspirations of its members but also contributes to the local economy by facilitating access to credit and financial services. Overall, First Priority Credit Union is instrumental in providing essential financial support and services that enhance the lives of its members while promoting public benefit in the community.
This information is meant to be a general summary of First Priority 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 2020.
- Program Service Revenue: $3,753,355
- Gross Receipts: $3,753,355
Assets and Liabilities:
- Total Assets: $117,976,564
- Total Liabilities: $99,580,753
- Net Assets: $18,395,811
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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
$3,146,252
Interest on Investments
Revenue
$174,139
Other Income
Revenue
$432,964
Organization Details
Founding Year
1924
Phone
(617) 482-4787Principal Officer
Rahul Kachru
Main Address
100 Swift Street, East Boston, MA, 02128
Website
www.firstprioritycu.comNTEE Category
Code: W60 - Public benefit
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