Overview
What is Finex Credit Union?
Finex Credit Union, located in East Hartford, Connecticut, is a member-focused financial institution. With a mission to provide affordable financial services, they manage their members' deposit accounts and distribute interest and dividends. Their workforce consists of 32 dedicated individuals, ensuring they can offer these services efficiently. Although not explicitly stated, Finex Credit Union likely operates as a nonprofit, aiming to benefit its deposit-holding members by offering cost-effective financial solutions.
Official website here: www.finexcu.org
What do the Facebook reviews say about Finex Credit Union?
94% of 299 reviewers on Facebook recommend Finex Credit Union. Here’s a summary of their feedback:
Many individuals have expressed their satisfaction with the attentive and knowledgeable staff at Finex. Reviewers frequently highlight the helpfulness of team members, mentioning that their inquiries were addressed promptly and effectively. One user specifically commended a staff member, Sam, for being particularly responsive and supportive, which reflects the overall positive sentiment towards customer service.
In addition to the excellent assistance from employees, it seems that Finex Credit Union is recognized for meeting the banking needs of its members. This consistent praise underlines a strong perception of reliability and competence within the organization, reinforcing their reputation as a trustworthy option for financial services.
This AI summary has been generated from reviews found on Facebook.
Is Finex Credit Union legitimate?
Finex Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Finex 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: $1,705,895
Professional Fundraising Fees: $0
Other Salaries and Wages: $756,452
For more financial information, click here
Official website here: www.finexcu.org
What is the mission statement of Finex Credit Union?
Finex Credit Union's mission is centered around providing affordable financial services to its members, who are the owners of the credit union. The primary objective of the credit union is to manage and maintain the deposits of its members, while also paying out interest and dividends to them. This mission is crucial in ensuring the financial well-being of its members.
Official website here: www.finexcu.org
Who is the CEO of Finex Credit Union?
Michael Palladino is the Chairperson of Finex Credit Union. The CEO's salary of Finex Credit Union is $327,978 and their total compensation is $330,661.
Official website here: www.finexcu.org
What is the revenue of Finex Credit Union?
Finex Credit Union's revenue in 2023 was $7,998,878.
Official website here: www.finexcu.org
Who are the executives of Finex Credit Union and what are their salaries?
The average compensation at Finex Credit Union during 2023 was $76,948. There are 32 employees at Finex Credit Union.
Here are 20 key members and their salaries (Finex Credit Union's CEO's salary is $327,978 and their total compensation is $330,661):
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- Compensation: $364,725
- Related: $0
- Other: $10,395
- Compensation: $327,978
- Related: $0
- Other: $2,683
- Compensation: $173,665
- Related: $0
- Other: $14,509
- Compensation: $115,886
- Related: $0
- Other: $40,006
- Compensation: $161,275
- Related: $0
- Other: $1,294
- Compensation: $110,444
- Related: $0
- Other: $1,651
- Compensation: $120,679
- Related: $0
- Other: $10,117
- Compensation: $111,429
- Related: $0
- Other: $34,930
- Compensation: $107,845
- Related: $0
- Other: $27,456
- Compensation: $111,969
- Related: $0
- Other: $3,250
Official website here: www.finexcu.org
Where can I find the form 990 for Finex Credit Union?
Finex Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.finexcu.org
Learn more at the official website: www.finexcu.org
Mission Statement of Finex Credit Union
Finex Credit Union, a financial services provider, is committed to serving its member-owners by offering affordable financial services. Its mission is focused on maintaining the depositors' accounts, paying interest and dividends, all while ensuring that the financial institution operates efficiently and effectively. By providing low-cost financial services, Finex Credit Union aims to contribute positively to its members' financial well-being.
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Impact
October, 2024
Finex Credit Union plays a crucial role in the financial landscape of East Hartford, CT, by providing essential financial services to its members. By focusing on the maintenance of members' deposit accounts and the payment of interest and dividends, Finex Credit Union ensures that its owner depositors benefit from low-cost financial solutions. This commitment to affordable financial services not only empowers individuals and families in the community to effectively manage their finances but also fosters a sense of collective growth and stability among its members. The impact of Finex Credit Union extends beyond individual accounts; it contributes to the overall public benefit by enhancing financial literacy, promoting savings, and encouraging responsible financial practices within the community.
This information is meant to be a general summary of Finex 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 2023.
- Investment Income: $242,624
- Program Service Revenue: $7,609,533
- Gross Receipts: $7,998,878
Assets and Liabilities:
- Total Assets: $112,609,874
- Total Liabilities: $102,456,848
- Net Assets: $10,153,026
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME ON LOA
Revenue
$3,341,727
MEMBER SERVICE FEES
Revenue
$2,641,609
LOAN SERVICING FEES
Revenue
$818,707
GAIN ON SALE OF MORTGA
Revenue
$807,490
Organization Details
Founding Year
1938
Phone
(860) 282-0001Principal Officer
Michael Palladino
Main Address
616 BURNSIDE AVENUE, EAST HARTFORD, CT, 06108
Website
www.finexcu.orgNTEE Category
Code: W60 - Public benefit
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