Overview
What is Cuba Credit Union?
Cuba Credit Union is a member-owned financial institution, situated within the nonprofit sector. Its primary function involves offering loan and deposit services to its members at reasonable costs and rates of return, ensuring accessibility to financial resources. The Credit Union stands out by providing its members with lower interest rates on loans compared to conventional financial institutions. Furthermore, Cuba Credit Union distributes a portion of its earnings back to its members through dividends, as demonstrated by the approximate $72,000 returned in a specific period. In essence, Cuba Credit Union serves as an affordable and beneficial financial partner for its member-owners.
Official website here: www.cubacreditunion.org
Is Cuba Credit Union legitimate?
Cuba Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Cuba 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: $81,985
Professional Fundraising Fees: $0
Other Salaries and Wages: $113,725
For more financial information, click here
Official website here: www.cubacreditunion.org
What is the mission statement of Cuba Credit Union?
Cuba Credit Union's mission is centered around providing loan and deposit services to its member-owned organization. They offer these services at reasonable costs and return rates, ensuring affordability for their members. The credit union distinguishes itself by offering competitive loan rates lower than those of traditional financial institutions. In addition, Cuba Credit Union demonstrates its commitment to its members by returning a portion of its earnings in the form of dividends. This practice reflects the credit union's dedication to providing financial benefits to its members.
Official website here: www.cubacreditunion.org
Who is the CEO of Cuba Credit Union?
Rhonda Jacquez is the President of Cuba Credit Union. The CEO's salary of Cuba Credit Union is $0 and their total compensation is $81,985.
Official website here: www.cubacreditunion.org
What is the revenue of Cuba Credit Union?
Cuba Credit Union's revenue in 2022 was $778,879.
Official website here: www.cubacreditunion.org
Who are the executives of Cuba Credit Union and what are their salaries?
The average compensation at Cuba Credit Union during 2022 was $48,928. There are 4 employees at Cuba Credit Union.
Here are 6 key members and their salaries (Cuba Credit Union's CEO's salary is $0 and their total compensation is $81,985):
- 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: $81,985
- Other: $0
Official website here: www.cubacreditunion.org
Where can I find the form 990 for Cuba Credit Union?
Cuba Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cubacreditunion.org
Learn more at the official website: www.cubacreditunion.org
Mission Statement of Cuba Credit Union
Cuba Credit Union, as a member-owned organization, is dedicated to providing loan and deposit products and services at affordable costs and reasonable rates of return to its members. The credit union offers a range of banking services, setting itself apart from traditional financial institutions by offering loans at lower rates to its members. As a testament to its commitment, Cuba Credit Union returned earnings of approximately $72,000 to its members in the form of dividends. This demonstrates the financial benefits that its members enjoy as a result of the credit union's mission. The organization's primary goal is to ensure that its member-owners have access to essential banking services at a cost that is reasonable and fair, thereby promoting financial well-being for its members.
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Impact
October, 2024
Cuba Credit Union significantly impacts its community by providing affordable financial services tailored to the needs of its member-owners. By offering loans at rates that are below those of traditional financial institutions, it makes borrowing more accessible for individuals and families in the area, empowering them to make essential purchases, invest in their futures, and manage their finances effectively.
The Credit Union also emphasizes savings by offering competitive deposit products, ensuring that members receive reasonable returns on their investments. This focus on member benefit is further highlighted by the return of approximately $72,000 in earnings as dividends, enriching the financial well-being of its community members.
Through its diverse range of banking services, Cuba Credit Union fosters a sense of community and financial health, ultimately contributing to the local economy by supporting responsible lending and savings practices.
This information is meant to be a general summary of Cuba 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: $148,218
- Program Service Revenue: $576,947
- Gross Receipts: $779,247
Assets and Liabilities:
- Total Assets: $22,163,951
- Total Liabilities: $19,036,855
- Net Assets: $3,127,096
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$467,170
FEES & CHARGES
Revenue
$109,777
Organization Details
Founding Year
1972
Phone
(505) 289-3763Principal Officer
Rhonda Jacquez
Main Address
PO BOX 1660, CUBA, NM, 87013
Website
www.cubacreditunion.orgNTEE Category
Code: W60 - Public benefit
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