Overview
What is Watertown Municipal Credit Union?
Watertown Municipal Credit Union is a nonprofit financial institution located at 149 MAIN STREET, WATERTOWN, MA 02472. Its primary mission is to support the employees of Watertown and their families by providing high-quality financial products and services. The credit union prioritizes the safety and growth of its members' assets, offering competitive interest rates on shares and reasonable rates on loans. The Watertown Municipal Credit Union is committed to maintaining a financially stable organization, with a focus on professional conduct and ethical standards. With a workforce of six dedicated individuals, the credit union serves its members diligently.
Official website here: www.watertownmcu.com
Is Watertown Municipal Credit Union legitimate?
Watertown Municipal Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Watertown Municipal 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: $24,871
Professional Fundraising Fees: $0
Other Salaries and Wages: $92,669
For more financial information, click here
Official website here: www.watertownmcu.com
What is the mission statement of Watertown Municipal Credit Union?
The Watertown Municipal Credit Union's mission is centered around serving the employees of Watertown and their families. It achieves this by providing top-notch financial products and services. The Credit Union prioritizes the protection of its members' financial assets through a conservative management approach, offering competitive interest rates on shares and reasonable rates on loans. This approach is not profit-driven but aims to ensure the financial stability of the Credit Union. The board, management, and staff of the W.M.C.U. are committed to maintaining the highest professional conduct and ethical standards.
Official website here: www.watertownmcu.com
Who is the CEO of Watertown Municipal Credit Union?
Barbara Sheehan is the President/Director of Watertown Municipal Credit Union.
Official website here: www.watertownmcu.com
What is the revenue of Watertown Municipal Credit Union?
Watertown Municipal Credit Union's revenue in 2021 was $309,357.
Official website here: www.watertownmcu.com
Who are the executives of Watertown Municipal Credit Union and what are their salaries?
The average compensation at Watertown Municipal Credit Union during 2021 was $19,590. There are 6 employees and 9 volunteers at Watertown Municipal Credit Union.
Here are 9 key members and their salaries:
- Compensation: $5,412
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $16,059
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $3,401
- Related: $0
- Other: $0
Official website here: www.watertownmcu.com
Where can I find the form 990 for Watertown Municipal Credit Union?
Watertown Municipal Credit Union's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.watertownmcu.com
Learn more at the official website: www.watertownmcu.com
Mission Statement of Watertown Municipal Credit Union
Watertown Municipal Credit Union, abbreviated as W.M.C.U., is dedicated to serving the employees of Watertown and their families. Its mission is to provide top-notch financial products and services, ensuring the protection of its members' financial assets. This is achieved through a conservative management style that offers competitive interest rates on shares and reasonable rates on loans. The credit union's focus is not on profit maximization but on maintaining financial stability. The board, management, and staff of Watertown Municipal Credit Union uphold the highest standards of professional conduct and ethical behavior.
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Impact
October, 2024
Watertown Municipal Credit Union plays a significant role in the financial well-being of its members and the local community. By managing member deposit and loan accounts, the credit union fosters a stable financial environment for the employees of Watertown and their families. With 812 deposit accounts and 119 loan accounts, it ensures that individuals have access to essential financial services that are tailored to their needs.
The credit union's mission focuses on delivering high-quality financial products while maintaining a conservative management style that prioritizes the protection of members' financial assets. This approach allows for competitive rates on shares and reasonable interest rates on loans, contributing to the economic stability of the community. The dedication of the board, management, and staff to professionalism and ethical standards further enhances the trust and confidence that members place in the organization.
By offering reliable financial services, Watertown Municipal Credit Union not only supports individual members but also strengthens the local economy, creating a ripple effect that benefits the wider community. Through its commitment to serving employees and their families, the credit union plays a vital role in promoting financial literacy and security, thereby improving the overall quality of life in Watertown.
This information is meant to be a general summary of Watertown Municipal 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 2021.
- Investment Income: $143,033
- Program Service Revenue: $165,979
- Gross Receipts: $309,357
Assets and Liabilities:
- Total Assets: $11,264,494
- Total Liabilities: $7,922,866
- Net Assets: $3,341,628
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RECOVERY OF LOSS FROM
Revenue
$91,107
INTEREST FROM LOANS TO
Revenue
$74,872
Organization Details
Founding Year
1934
Phone
(617) 924-0160Principal Officer
Barbara Sheehan
Main Address
149 MAIN STREET, WATERTOWN, MA, 024724410
Website
www.watertownmcu.comNTEE Category
Code: W60 - Public benefit
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