Overview
What is Leominster Credit Union?
Leominster Credit Union, based at 20 Adams Street, Leomester, MA 01453, is a community-focused financial services provider with a team of 190 employees. Their primary goal is to meet the financial needs of their members, offering exceptional service and advanced technology. At the end of the year, they had 32,686 members, with interest expenses on certificates of deposit amounting to $3,092,977. The credit union is committed to being a responsible corporate citizen, enriching the communities where they operate.
Official website here: www.leominstercu.com
What are the reviews and ratings of this charity?
Leominster Credit Union is not currently rated by Charity Navigator. This absence of a rating does not indicate a positive or negative assessment; rather, it reflects the organization's status as a non-501(c)(3) nonprofit, which means it does not undergo the standard evaluation processes used by Charity Navigator for such entities. Historically, any ratings would have focused on the organization's accountability and finance aspects, but these evaluations are not applicable here.
As Leominster Credit Union is independent and not affiliated with any larger networks, it operates autonomously. Data typically used for financial transparency and leadership assessment, such as revenues, expenses, and executive salaries, are not available, largely due to its different categorization and capabilities as a credit union. This absence limits the depth of any formal analysis of its operational and financial practices through Charity Navigator.
Additionally, no user reviews from GreatNonprofits are available, so the public sentiment or detailed experiences from patrons of Leominster Credit Union are not documented in this context. This lack of qualitative feedback further limits the ability to assess the organization's community impact and customer satisfaction from available data sources.
This AI summary has been generated from information found on Charity Navigator.
Is Leominster Credit Union legitimate?
Leominster Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Leominster 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: $1,365,144
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,395,053
For more financial information, click here
Official website here: www.leominstercu.com
What is the mission statement of Leominster Credit Union?
Leominster Credit Union is dedicated to meeting the financial needs of its members through exceptional service and advanced technology. As a community-focused financial institution, the credit union aims to make a positive impact in the areas it serves. Its primary objective is to fulfill the financial requirements of its members in an effective and responsible manner. At the end of the year, the credit union boasted a membership of 32,686 individuals and paid out a significant amount in interest on certificates of deposit, totaling $3,092,977.
Official website here: www.leominstercu.com
Who is the CEO of Leominster Credit Union?
Barbara Mahoney is the President/Ceo of Leominster Credit Union. The CEO's salary of Leominster Credit Union is $383,529 and their total compensation is $428,961.
Official website here: www.leominstercu.com
What is the revenue of Leominster Credit Union?
Leominster Credit Union's revenue in 2022 was $30,384,917.
Official website here: www.leominstercu.com
Who are the executives of Leominster Credit Union and what are their salaries?
The average compensation at Leominster Credit Union during 2022 was $51,369. There are 190 employees and 10 volunteers at Leominster Credit Union.
Here are 20 key members and their salaries (Leominster Credit Union's CEO's salary is $383,529 and their total compensation is $428,961):
- Compensation: $383,529
- Related: $0
- Other: $45,432
- Compensation: $241,183
- Related: $0
- Other: $16,971
- Compensation: $226,140
- Related: $0
- Other: $29,697
- Compensation: $196,805
- Related: $0
- Other: $47,208
- Compensation: $183,921
- Related: $0
- Other: $43,711
- Compensation: $165,732
- Related: $0
- Other: $47,889
- Compensation: $142,790
- Related: $0
- Other: $41,280
- Compensation: $169,553
- Related: $0
- Other: $14,148
- Compensation: $151,138
- Related: $0
- Other: $30,752
- Compensation: $136,838
- Related: $0
- Other: $37,923
- 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.leominstercu.com
Where can I find the form 990 for Leominster Credit Union?
Leominster Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.leominstercu.com
Learn more at the official website: www.leominstercu.com
Mission Statement of Leominster Credit Union
Leominster Credit Union, or LCU, is a community-focused financial services provider dedicated to meeting the financial needs of its members through exceptional service and innovative technology. Established with a commitment to enriching the communities it serves, LCU strives to go above and beyond in delivering financial solutions to its members.
The mission of Leominster Credit Union is twofold. Firstly, it aims to provide outstanding service, ensuring that each member receives personalized attention and support to help them achieve their financial goals. Secondly, LCU utilizes effective technology to streamline processes and make banking more convenient for its members.
As a responsible corporate citizen, LCU is deeply invested in the well-being of the communities it serves. With a membership base of 32,686 individuals, the credit union paid out an impressive $3,092,977 in interest on certificates of deposit at the end of the year. This significant financial contribution is a testament to LCU's commitment to its members and its role as a valuable partner in their financial journeys.
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Impact
October, 2024
Leominster Credit Union plays a significant role in the financial well-being of its community by meeting the diverse financial needs of its members with exceptional service and innovative technology. With a membership base of 32,686 individuals, the credit union focuses on providing value through competitive interest rates, evidenced by the $3,092,977 paid in interest on certificates of deposit.
By prioritizing outstanding service, Leominster Credit Union fosters a strong sense of trust and loyalty within the community it serves. Its commitment to enriching the local area is reflected in its responsible corporate practices, ensuring that it not only serves its members but also contributes positively to the broader community. This emphasis on community enhancement aligns with its mission to be a proactive and supportive financial partner for residents of Leominster, Massachusetts, and beyond.
This information is meant to be a general summary of Leominster 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: $5,147,647
- Program Service Revenue: $24,867,106
- Gross Receipts: $32,883,198
Assets and Liabilities:
- Total Assets: $864,317,243
- Total Liabilities: $812,407,467
- Net Assets: $51,909,776
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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
$19,855,414
SERVICE CHARGES AND FEE INCOME
Revenue
$5,011,692
Organization Details
Founding Year
1954
Phone
(978) 537-8021Principal Officer
Barbara Mahoney
Main Address
20 ADAMS STREET, LEOMINSTER, MA, 01453
Website
www.leominstercu.comNTEE Category
Code: W60 - Public benefit
If you are a representative of Leominster Credit Union and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.