Overview
What is Greenwood Credit Union Inc?
Greenwood Credit Union Inc, based at 2669 Post Road in Warwick, Rhode Island (02886), is an association owned by its member depositors. With a total of 104 employees, the credit union had 108,606 deposit accounts and 41,860 loan accounts as of December 31, 2022. The organization generates income from loans and investments, which enables it to offer affordable financial services to its members. The credit union's activities revolve around providing low-cost financial products to its members.
Official website here: www.greenwoodcu.org
Is Greenwood Credit Union Inc legitimate?
Greenwood Credit Union Inc is a legitimate nonprofit organization registered as a 501(c)(14) entity. Greenwood Credit Union Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,906,522
For more financial information, click here
Official website here: www.greenwoodcu.org
What is the mission statement of Greenwood Credit Union Inc?
Greenwood Credit Union Inc is a member-owned association that generates income from loans and investments to provide affordable financial services to its depositor-members. The interest earned from these activities enables the credit union to offer competitive rates and low-cost financial products to its member-owners. With over 108,000 share/deposit accounts and 41,000 loan accounts as of December 31, 2022, the credit union serves a substantial membership base. The primary goal is to ensure the financial well-being of its members by offering them access to essential banking services at reasonable costs. The credit union's commitment to its members extends beyond financial services, aiming to build long-term relationships and contribute to their overall financial success.
Official website here: www.greenwoodcu.org
Who is the CEO of Greenwood Credit Union Inc?
Frederick Reinhardt is the Ceo of Greenwood Credit Union Inc. The CEO's salary of Greenwood Credit Union Inc is $397,463 and their total compensation is $429,782.
Official website here: www.greenwoodcu.org
What is the revenue of Greenwood Credit Union Inc?
Greenwood Credit Union Inc's revenue in 2022 was $35,042,007.
Official website here: www.greenwoodcu.org
Who are the executives of Greenwood Credit Union Inc and what are their salaries?
The average compensation at Greenwood Credit Union Inc during 2022 was $76,024. There are 104 employees at Greenwood Credit Union Inc.
Here are 14 key members and their salaries (Greenwood Credit Union Inc's CEO's salary is $397,463 and their total compensation is $429,782):
- Compensation: $397,463
- Related: $0
- Other: $32,319
- Compensation: $226,383
- Related: $0
- Other: $29,139
- Compensation: $203,190
- Related: $0
- Other: $27,980
- Compensation: $190,652
- Related: $0
- Other: $9,533
- Compensation: $174,093
- Related: $0
- Other: $18,216
- Compensation: $142,049
- Related: $0
- Other: $24,220
- Compensation: $37,800
- Related: $0
- Other: $0
- Compensation: $24,300
- Related: $0
- Other: $0
- Compensation: $23,400
- Related: $0
- Other: $0
- Compensation: $22,800
- Related: $0
- Other: $0
- Compensation: $15,900
- Related: $0
- Other: $0
- Compensation: $15,300
- Related: $0
- Other: $0
- Compensation: $14,100
- Related: $0
- Other: $0
- Compensation: $13,400
- Related: $0
- Other: $0
Official website here: www.greenwoodcu.org
Where can I find the form 990 for Greenwood Credit Union Inc?
Greenwood Credit Union Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greenwoodcu.org
Learn more at the official website: www.greenwoodcu.org
Mission Statement of Greenwood Credit Union Inc
Greenwood Credit Union Inc, an association owned by its member depositors, strives to provide affordable financial services. With interest income generated from loans and investments, the credit union is able to offer cost-effective financial products to its members. The organization's primary mission lies in leveraging earnings from loans and investments to fund the provision of competitive financial services to its owner-members.
At the end of 2022, Greenwood Credit Union Inc boasted a substantial membership base, with a total of 108,606 share/deposit accounts and 41,860 loan accounts. The credit union's success can be attributed to its dedication to its members' financial well-being. By generating revenue through loans and investments, the credit union is able to keep its costs low and pass the savings on to its members. In this way, Greenwood Credit Union Inc continues to make a positive impact on the financial lives of its owner-members.
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Impact
October, 2024
Greenwood Credit Union Inc plays a vital role in the financial health of its community by offering low-cost financial services to its member depositors. By operating as an association owned by its members, the credit union channels interest income from loans and investments directly back into providing affordable financial products. As of December 31, 2022, Greenwood Credit Union had over 108,600 share/deposit accounts and 41,860 loan accounts, reflecting its significant impact on the local economy and its commitment to meeting the financial needs of its members.
The credit union's structure ensures that profits are not distributed to external shareholders but rather reinvested to enhance services, create better rates, and offer loans that are accessible to all members. This member-centric approach fosters financial inclusion and promotes economic stability within the Warwick, RI area, ultimately contributing to improved quality of life and greater financial empowerment for individuals and families in the community.
This information is meant to be a general summary of Greenwood Credit Union Inc. 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: $1,643,569
- Program Service Revenue: $33,398,438
- Gross Receipts: $35,042,007
Assets and Liabilities:
- Total Assets: $792,476,276
- Total Liabilities: $721,297,579
- Net Assets: $71,178,697
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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
$29,022,130
MEMBER SERVICE FEES
Revenue
$3,834,577
GAIN ON SALE OF LOANS
Revenue
$534,075
NONMEMBER ATM FEES
Revenue
$7,656
Organization Details
Founding Year
1948
Phone
(401) 739-4600Principal Officer
Frederick Reinhardt
Main Address
2669 POST ROAD, WARWICK, RI, 02886
Website
www.greenwoodcu.orgNTEE Category
Code: W60 - Public benefit
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