Overview
What is Energy Credit Union?
Energy Credit Union is a state-chartered financial institution located at 156 Spring Street, West Roxbury, Massachusetts 02132. As a member-centric organization, it offers deposit and loan services to its members, with primary deposit products like savings, checking, and term certificate accounts, and primary lending products such as residential mortgages and consumer loans. At the end of 2022, the credit union managed 3,312 outstanding loans and catered to 11,398 member deposit accounts. With a workforce of 21 employees, Energy Credit Union continues to serve its members effectively, providing them with financial solutions and fostering financial wellbeing.
Official website here: www.energycreditunion.org
Is Energy Credit Union legitimate?
Energy Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Energy 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: $497,685
Professional Fundraising Fees: $0
Other Salaries and Wages: $563,611
For more financial information, click here
Official website here: www.energycreditunion.org
What is the mission statement of Energy Credit Union?
Energy Credit Union is dedicated to serving its members by offering deposit and loan services. Their primary deposit products include savings, checking, and term certificate accounts, while their primary lending products are residential mortgages and consumer loans. The credit union manages its members' deposits, pays out interest and dividends, and as of December 31, 2022, had 3,312 loans outstanding and 11,398 deposit accounts. In essence, Energy Credit Union aims to support its members financially, providing them with various deposit and loan options.
Official website here: www.energycreditunion.org
Who is the CEO of Energy Credit Union?
Hooi Sing Tan is the President & of Energy Credit Union.
Official website here: www.energycreditunion.org
What is the revenue of Energy Credit Union?
Energy Credit Union's revenue in 2022 was $4,195,171.
Official website here: www.energycreditunion.org
Who are the executives of Energy Credit Union and what are their salaries?
The average compensation at Energy Credit Union during 2022 was $50,538. There are 21 employees and 9 volunteers at Energy Credit Union.
Here are 13 key members and their salaries:
- Compensation: $232,700
- Related: $0
- Other: $43,368
- Compensation: $130,749
- Related: $0
- Other: $28,146
- 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: $0
- 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: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.energycreditunion.org
Where can I find the form 990 for Energy Credit Union?
Energy Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.energycreditunion.org
Learn more at the official website: www.energycreditunion.org
Mission Statement of Energy Credit Union
Energy Credit Union, as a state-chartered credit union, serves its members by offering deposit and loan services. Its primary deposit products include savings, checking, and term certificate accounts, while its primary lending products are residential mortgages and consumer loans. The credit union's mission is to maintain its members' deposits, making payments of interest and dividends. As of December 31, 2022, Energy Credit Union had 3,312 loans outstanding and 11,398 deposit accounts. In essence, the credit union plays a crucial role in managing its members' financial needs, providing them with various deposit and lending options.
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Impact
October, 2024
Energy Credit Union plays a significant role in supporting the financial health of its community in West Roxbury, MA. By providing essential deposit and loan services, the credit union enables members to manage their finances effectively. With a focus on savings, checking accounts, and term certificates, Energy Credit Union fosters a culture of saving among its members.
On the lending side, the credit union facilitates access to residential mortgages and consumer loans, thus empowering individuals and families to achieve important life goals, such as homeownership. As of December 31, 2022, Energy Credit Union had 3,312 loans outstanding and 11,398 deposit accounts, demonstrating its robust engagement with the community and commitment to enhancing members' financial well-being.
In sum, Energy Credit Union is a pivotal institution that contributes to the financial stability and growth of its members, promoting a sense of community and collective prosperity.
This information is meant to be a general summary of Energy 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: $572,258
- Program Service Revenue: $3,373,063
- Gross Receipts: $4,698,613
Assets and Liabilities:
- Total Assets: $133,032,845
- Total Liabilities: $115,770,174
- Net Assets: $17,262,671
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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
$3,373,063
Organization Details
Founding Year
1931
Phone
(617) 325-1999Principal Officer
Hooi Sing Tan
Main Address
156 SPRING STREET, WEST ROXBURY, MA, 02132
Website
www.energycreditunion.orgNTEE Category
Code: W60 - Public benefit
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