Overview
What is Southbridge Credit Union?
Southbridge Credit Union is a member-driven financial institution situated at 155 Main Street, Southbridge, Massachusetts 01550. Established with a mission to offer superior financial services, it primarily focuses on providing loans to its members and accepting deposits from them. With a strong commitment to its members, Southbridge Credit Union aims to assist them in achieving their financial objectives. By the end of 2022, the credit union had received a significant loan interest of $6,647,528 from its members. The organization boasts a modest workforce of 55 individuals, dedicated to serving their members' financial needs.
Official website here: www.sbgecu.org
Is Southbridge Credit Union legitimate?
Southbridge Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Southbridge 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: $436,986
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,972,104
For more financial information, click here
Official website here: www.sbgecu.org
What is the mission statement of Southbridge Credit Union?
Southbridge Credit Union, as a member-owned financial institution, is dedicated to providing its members with a range of financial products and personalized services. The primary goal is to assist members in achieving their financial objectives. The credit union offers loans and accepts deposits from its members. In line with this mission, Southbridge Credit Union strives to deliver superior financial services, aiming to contribute positively to its members' financial well-being. For the fiscal year ending December 31, 2022, the credit union earned $6,647,528 from loan interest received from its members.
Official website here: www.sbgecu.org
Who is the CEO of Southbridge Credit Union?
Jeff Canniff is the 2Nd Vice Chair/Director of Southbridge Credit Union. The CEO's salary of Southbridge Credit Union is $243,544 and their total compensation is $281,009.
Official website here: www.sbgecu.org
What is the revenue of Southbridge Credit Union?
Southbridge Credit Union's revenue in 2022 was $9,370,814.
Official website here: www.sbgecu.org
Who are the executives of Southbridge Credit Union and what are their salaries?
The average compensation at Southbridge Credit Union during 2022 was $43,802. There are 55 employees at Southbridge Credit Union.
Here are 15 key members and their salaries (Southbridge Credit Union's CEO's salary is $243,544 and their total compensation is $281,009):
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- Compensation: $12,000
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- Compensation: $243,544
- Related: $0
- Other: $37,465
- Compensation: $181,442
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- Other: $17,557
- Compensation: $104,871
- Related: $0
- Other: $17,470
- Compensation: $103,827
- Related: $0
- Other: $16,681
Official website here: www.sbgecu.org
Where can I find the form 990 for Southbridge Credit Union?
Southbridge Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sbgecu.org
Learn more at the official website: www.sbgecu.org
Mission Statement of Southbridge Credit Union
Southbridge Credit Union is dedicated to providing its members with financial products and personalized services that aid in achieving their financial goals. This mission is at the heart of Southbridge Credit Union's operations, as it strives to offer superior financial services to its members. The credit union's primary function includes extending loans to its members while also accepting deposits from them. In the fiscal year ending on December 31, 2022, the credit union received a significant amount of loan interest from its members, amounting to $6,647,528. This figure underscores the credit union's commitment to helping its members manage their finances effectively and achieve their financial objectives. In essence, Southbridge Credit Union serves as a financial partner to its members, offering tailored financial solutions to help them navigate their financial journey with confidence.
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Impact
October, 2024
Southbridge Credit Union plays a significant role in the financial well-being of its members by offering a range of tailored financial products and services. By focusing on personalized support, the credit union assists individuals in achieving their financial aspirations and goals.
In the community of Southbridge, Massachusetts, Southbridge Credit Union operates as a member-owned institution dedicated to fostering strong financial health. With its primary operations centered around providing loans and accepting deposits, the credit union generated over $6.6 million in loan interest in 2022, highlighting its active engagement and support for members' financial journeys.
Through its commitment to superior financial services, Southbridge Credit Union not only enhances the economic stability of individual members but also contributes to the overall financial vitality of the local community. Its focus on public benefit underscores its mission to empower members through accessible and effective financial solutions.
This information is meant to be a general summary of Southbridge 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: $655,019
- Program Service Revenue: $7,651,286
- Gross Receipts: $9,370,814
Assets and Liabilities:
- Total Assets: $210,069,860
- Total Liabilities: $187,249,351
- Net Assets: $22,820,509
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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
$6,647,528
FEES & COMMISSIONS
Revenue
$972,489
BORROWER'S INSURANCE
Revenue
$31,269
Organization Details
Founding Year
1938
Phone
(508) 765-5454Principal Officer
Jeff Canniff
Main Address
155 MAIN STREET, SOUTHBRIDGE, MA, 01550
Website
www.sbgecu.orgNTEE Category
Code: W60 - Public benefit
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