Worcester Fire Dept Credit Union

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

EIN: 041989205 ✦ Worcester, MA ✦ Designated as a 501(c)(14)

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Overview

What is Worcester Fire Dept Credit Union?

The Worcester Fire Dept Credit Union is a nonprofit organization located at 34 Glennie Street, Worcester, Massachusetts 01605. Its primary purpose is to promote thrift among its members by collecting their savings and lending these funds back to them for various provident needs. The credit union's services include providing low-cost loans, operating ATMs, issuing Visa cards, and offering home banking facilities. The organization aims to cater to the financial needs of its members, ensuring they have access to essential financial services.


Official website here: www.wfdcu.org

Is Worcester Fire Dept Credit Union legitimate?

Worcester Fire Dept Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Worcester Fire Dept 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: $195,261
Professional Fundraising Fees: $0
Other Salaries and Wages: $124,632

For more financial information, click here


Official website here: www.wfdcu.org

What is the mission statement of Worcester Fire Dept Credit Union?

The Worcester Fire Dept Credit Union's mission is centered around promoting thrift among its members. They achieve this by collecting and saving their members' funds, and subsequently, lending these savings back to them for various provident purposes. This financial institution aims to provide its members with affordable loans, along with other financial services such as ATM access, Visa cards, home banking, and more. By doing so, the Worcester Fire Dept Credit Union aims to support its members in managing their finances effectively for their future needs.


Official website here: www.wfdcu.org

Who is the CEO of Worcester Fire Dept Credit Union?

Gerard Dio is the Manager of Worcester Fire Dept Credit Union.


Official website here: www.wfdcu.org

What is the revenue of Worcester Fire Dept Credit Union?

Worcester Fire Dept Credit Union's revenue in 2022 was $974,928.


Official website here: www.wfdcu.org

Who are the executives of Worcester Fire Dept Credit Union and what are their salaries?

There 9 volunteers at Worcester Fire Dept Credit Union.


Here are 9 key members and their salaries:


Lisa Carmody (Manager)
  • Compensation: $102,539
  • Related: $0
  • Other: $19,500
Daniel Spencer (Treasurer)
  • Compensation: $37,949
  • Related: $0
  • Other: $0
Gerard Dio (President)
  • Compensation: $26,543
  • Related: $0
  • Other: $0
Brian Tangney (Director)
  • Compensation: $8,730
  • Related: $0
  • Other: $0
Robert Johnson (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Franco (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Arthur Davison (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Brian Boucher (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Coakley (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.wfdcu.org

Where can I find the form 990 for Worcester Fire Dept Credit Union?

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


Official website here: www.wfdcu.org

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

Mission Statement of Worcester Fire Dept Credit Union

Worcester Fire Dept Credit Union, as a financial institution, is dedicated to promoting thrift among its members. This is achieved by encouraging its members to save their funds and subsequently lending out these savings to fellow members for various provident purposes. By doing so, the credit union aims to provide its members with affordable loan options, thereby serving as a reliable financial resource. The union's mission is to foster financial responsibility among its members, ultimately benefiting the community as a whole.

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Impact




October, 2024

Worcester Fire Dept Credit Union plays a vital role in the financial well-being of its members by offering a range of services designed to promote savings and responsible borrowing. The credit union provides low-cost loans, making it easier for members to access funds for necessary expenses while avoiding high-interest rates typically associated with traditional banks.

Through services like ATM access, Visa cards, and home banking, members enjoy convenient and flexible banking options that meet their everyday financial needs. By encouraging thrift and helping members accumulate savings, the credit union fosters a strong sense of financial literacy and responsibility within the community. Overall, Worcester Fire Dept Credit Union significantly impacts its members by enhancing their financial stability and empowering them to achieve their financial goals.




This information is meant to be a general summary of Worcester Fire Dept 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
$974,928 (2022)
Expenses
$906,557 (2022)
Efficiency

Other financial information:

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

  • Investment Income: $491,991
  • Program Service Revenue: $460,804
  • Gross Receipts: $974,928

Assets and Liabilities:

  • Total Assets: $51,655,973
  • Total Liabilities: $45,953,769
  • Net Assets: $5,702,204

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Programs

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

Loans to members

Revenue

$460,804

Organization Details

Founding Year

1937

Principal Officer

Gerard Dio

Main Address

34 Glennie Street, Worcester, MA, 01605

NTEE Category

Code: W60 - Public benefit

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