Alltrust Credit Union

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 041853650 ✦ Fairhaven, MA ✦ Designated as a 501(c)(14)

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Overview

What is Alltrust Credit Union?

Alltrust Credit Union is a financial institution that operates as a credit union, providing both deposit and loan services to its members. With a significant membership base of 28,687 deposit account holders and 3,590 borrowers, Alltrust Credit Union manages a substantial number of transactions. In addition to these core services, the credit union also offers scholarships to eligible applicants who hold membership or have family ties to the organization.


Official website here: www.alltrustcu.org

Is Alltrust Credit Union legitimate?

Alltrust Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Alltrust 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: $604,591
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,660,577

For more financial information, click here


Official website here: www.alltrustcu.org

What is the mission statement of Alltrust Credit Union?

Alltrust Credit Union is dedicated to providing credit union thrift services to its members. They manage deposit and loan accounts, with a significant number of members and loan recipients. The institution goes beyond financial services, offering scholarships to deserving applicants who hold membership or are related to members. These scholarships aim to support the education and future of qualifying individuals within the credit union community.


Official website here: www.alltrustcu.org

Who is the CEO of Alltrust Credit Union?

Carmen Sylvester is the Principal Officer of Alltrust Credit Union. The CEO's salary of Alltrust Credit Union is $358,283 and their total compensation is $481,731.


Official website here: www.alltrustcu.org

What is the revenue of Alltrust Credit Union?

Alltrust Credit Union's revenue in 2022 was $12,729,044.


Official website here: www.alltrustcu.org

Who are the executives of Alltrust Credit Union and what are their salaries?

The average compensation at Alltrust Credit Union during 2022 was $46,870. There are 91 employees and 10 volunteers at Alltrust Credit Union.


Here are 18 key members and their salaries (Alltrust Credit Union's CEO's salary is $358,283 and their total compensation is $481,731):


David S Darmofal (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Pamela Bourgault (1St Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kristen Sniezek (2Nd Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sandra Tynan Resigned 81622 (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Morris Resigned 2622 (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Sylvia (Chairman)
  • Compensation: $11,500
  • Related: $0
  • Other: $0
Charles Murphy (Asst. Clerk/Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Paul Sylvia (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Richard Ellis (Clerk/Treasurer)
  • Compensation: $5,000
  • Related: $0
  • Other: $0
Robert Wallace Ended 32422 (2Nd Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Alfred J Peccini (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael S Gago (Chief Lending Officer)
  • Compensation: $229,808
  • Related: $0
  • Other: $78,531
Carmen F Sylvester (President & Ceo)
  • Compensation: $358,283
  • Related: $0
  • Other: $123,448
Raymond Goulart (Avp, Mortgage Loan Office)
  • Compensation: $145,838
  • Related: $0
  • Other: $19,918
Susan St Pierre (Vice President It)
  • Compensation: $145,087
  • Related: $0
  • Other: $15,354
Loren Sarno (Commercial Loan Officer)
  • Compensation: $172,583
  • Related: $0
  • Other: $18,997
Nicole Fortier (Sr. Vice President Retail)
  • Compensation: $125,884
  • Related: $0
  • Other: $11,285
Kimberly Trahan (Sr. Vice President Hr)
  • Compensation: $139,981
  • Related: $0
  • Other: $5,073


Official website here: www.alltrustcu.org

Where can I find the form 990 for Alltrust Credit Union?

Alltrust Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.alltrustcu.org

Learn more at the official website: www.alltrustcu.org

Mission Statement of Alltrust Credit Union

Alltrust Credit Union is a financial institution dedicated to providing credit union thrift services. With a significant membership base, the union maintains over 28,000 deposit accounts and 3,600 loan accounts. Alltrust Credit Union's mission extends beyond standard financial services, as it also awards scholarships to deserving applicants who hold membership or are relatives of members.

The credit union plays a pivotal role in managing its members' financial needs, offering a comprehensive suite of deposit and loan services. The deposit accounts enable members to save or grow their funds, while the loan accounts facilitate access to credit for various purposes. Alltrust Credit Union's commitment to its members extends beyond monetary transactions, as it recognizes the importance of investing in the future of its community.

The scholarship program represents a tangible expression of Alltrust Credit Union's dedication to its members. By providing educational opportunities, the credit union empowers the next generation to thrive financially and personally. The scholarships are open to individuals who demonstrate a strong commitment to their education and meet the eligibility criteria. In this way, Alltrust Credit Union not only supports its members' financial well-being but also invests in their future success.

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Impact




October, 2024

Alltrust Credit Union plays a significant role in the economic empowerment and financial well-being of its community in Fairhaven, MA. With a robust membership base, it maintains 28,687 deposit accounts, fostering savings and financial stability among its members. Additionally, it offers 3,590 loan accounts, providing essential financial support for various needs, from personal expenses to major life purchases.

The credit union's commitment to education is evident through its scholarship program, which awards funding to qualifying applicants who are either members or family of members. This initiative not only alleviates financial burdens for students but also promotes educational advancement within the community.

Through these thrift services and educational support, Alltrust Credit Union makes a profound impact by enhancing financial literacy, accessibility to financial resources, and overall community development.




This information is meant to be a general summary of Alltrust 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.

Revenue
$12,729,044 (2022)
Expenses
$12,437,070 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $805,197
  • Program Service Revenue: $11,627,909
  • Gross Receipts: $12,729,044

Assets and Liabilities:

  • Total Assets: $345,809,637
  • Total Liabilities: $316,009,001
  • Net Assets: $29,800,636

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

LOAN INCOME

Revenue

$10,266,422

MEMBER SERVICE FEES

Revenue

$1,361,487

Organization Details

Founding Year

1922

Principal Officer

Carmen Sylvester

Main Address

123 ALDEN ROAD, FAIRHAVEN, MA, 02719

NTEE Category

Code: W60 - Public benefit

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