Overview
What is Arrha Credit Union?
Arrha Credit Union, established in Springfield, Massachusetts, operates as a cooperative financial institution dedicated to serving its members. With a strong financial foundation, the credit union held $95,485,601 in loans for its members and $4,493,041 for non-members at the end of 2022. The credit union's deposits and share accounts stood at an impressive $119,393,785, all sourced from its members. Arrha Credit Union's mission is to help its members achieve their financial objectives by offering superior products and services in a customized manner. By focusing on personalized service, the credit union aims to assist its members in reaching their financial goals.
Official website here: www.arrhacu.com
Is Arrha Credit Union legitimate?
Arrha Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Arrha 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: $844,695
Professional Fundraising Fees: $0
Other Salaries and Wages: $972,950
For more financial information, click here
Official website here: www.arrhacu.com
What is the mission statement of Arrha Credit Union?
Arrha Credit Union is committed to aiding its members in achieving their financial objectives. This is achieved by offering top-notch products and services in a tailored manner. The credit union's mission is deeply rooted in its cooperative nature, ensuring it serves its members effectively. As of December 31, 2022, the credit union had $95,485,601 in loans to its members and $4,493,041 in loans to non-members. Additionally, it managed $119,393,785 in deposits and share accounts from its membership base.
Official website here: www.arrhacu.com
Who is the CEO of Arrha Credit Union?
Michael S Ostrowski is the Vice Chairman of Arrha Credit Union. The CEO's salary of Arrha Credit Union is $237,528 and their total compensation is $268,015.
Official website here: www.arrhacu.com
What is the revenue of Arrha Credit Union?
Arrha Credit Union's revenue in 2022 was $5,387,291.
Official website here: www.arrhacu.com
Who are the executives of Arrha Credit Union and what are their salaries?
The average compensation at Arrha Credit Union during 2022 was $51,933. There are 35 employees and 10 volunteers at Arrha Credit Union.
Here are 15 key members and their salaries (Arrha Credit Union's CEO's salary is $237,528 and their total compensation is $268,015):
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- Compensation: $129,681
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- Other: $17,514
- Compensation: $107,149
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- Other: $25,002
- Compensation: $237,528
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- Other: $30,487
- Compensation: $132,057
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- Other: $28,957
- Compensation: $116,042
- Related: $0
- Other: $20,276
Official website here: www.arrhacu.com
Where can I find the form 990 for Arrha Credit Union?
Arrha Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.arrhacu.com
Learn more at the official website: www.arrhacu.com
Mission Statement of Arrha Credit Union
Arrha Credit Union, being member-owned and committed to its members, aims to assist them in achieving their financial goals. It accomplishes this by offering superior products and services in a personalized manner. The credit union's mission is geared towards empowering its members, ensuring they can confidently navigate their financial journeys. By providing tailored solutions, Arrha Credit Union strives to make a significant impact in its members' lives, helping them reach their financial aspirations.
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Impact
October, 2024
Arrha Credit Union plays a significant role in the financial well-being of its members and the community. By providing personalized financial products and services, it empowers individuals to achieve their financial goals. As of December 31, 2022, Arrha Credit Union has approximately $95.5 million in total assets and has extended over $4.4 million in loans to both members and non-members, demonstrating its commitment to facilitating access to credit.
The credit union holds nearly $119.4 million in deposits and share accounts from its members, fostering a culture of savings and investment. This cooperative approach not only benefits individual members but also strengthens the overall economic stability of the Springfield, MA community. Through its dedication to serving members and prioritizing their financial needs, Arrha Credit Union contributes to a more inclusive and supportive financial landscape.
This information is meant to be a general summary of Arrha 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: $400,114
- Program Service Revenue: $4,248,300
- Gross Receipts: $5,387,291
Assets and Liabilities:
- Total Assets: $135,616,748
- Total Liabilities: $123,605,208
- Net Assets: $12,011,540
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$3,339,954
MEMBER SERVICE FEES
Revenue
$908,346
Organization Details
Founding Year
1929
Phone
(877) 732-9812Principal Officer
Michael S Ostrowski
Main Address
145 INDUSTRY AVENUE, SPRINGFIELD, MA, 01104
Website
www.arrhacu.comNTEE Category
Code: W60 - Public benefit
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