Overview
What is 164 Firstenergy Family Credit Union?
164 Firstenergy Family Credit Union is a member-owned financial institution based in Akron, Ohio. With approximately 4512 members, the credit union offers a range of financial services, including lending and savings options, to its qualified members. The credit union aims to provide better terms than those available in the market, while prioritizing exceptional member service. Direct labor and employee benefits costs are incurred to deliver savings deposit services, originate new loans, and manage the loan portfolio for its members. The credit union also covers data processing costs associated with recording member account activity and providing access to accounts via online banking, phone, and in-person visits at the credit union office.
Official website here: www.fefcu.com
Is 164 Firstenergy Family Credit Union legitimate?
164 Firstenergy Family Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. 164 Firstenergy Family 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: $296,382
Professional Fundraising Fees: $0
Other Salaries and Wages: $157,575
For more financial information, click here
Official website here: www.fefcu.com
What is the mission statement of 164 Firstenergy Family Credit Union?
The 164 Firstenergy Family Credit Union is committed to providing its eligible members with competitive lending, savings, and financial services. This organization places a significant emphasis on member service, recognizing that its members are not just customers but the owners of the credit union. The credit union incurs direct labor and employee benefits costs while providing savings deposit services, originating new loans, and managing the loan portfolio for its members. The primary goal is to offer financial services at terms that are typically more favorable than those available in the marketplace.
Official website here: www.fefcu.com
Who is the CEO of 164 Firstenergy Family Credit Union?
Timothy Baker is the Ceo & Treasurer of 164 Firstenergy Family Credit Union. The CEO's salary of 164 Firstenergy Family Credit Union is $170,500 and their total compensation is $170,500.
Official website here: www.fefcu.com
What is the revenue of 164 Firstenergy Family Credit Union?
164 Firstenergy Family Credit Union's revenue in 2022 was $1,108,328.
Official website here: www.fefcu.com
Who are the executives of 164 Firstenergy Family Credit Union and what are their salaries?
The average compensation at 164 Firstenergy Family Credit Union during 2022 was $75,660. There are 6 employees and 10 volunteers at 164 Firstenergy Family Credit Union.
Here are 11 key members and their salaries (164 Firstenergy Family Credit Union's CEO's salary is $170,500 and their total compensation is $170,500):
- Compensation: $170,500
- Related: $0
- Other: $0
- Compensation: $120,872
- 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.fefcu.com
Where can I find the form 990 for 164 Firstenergy Family Credit Union?
164 Firstenergy Family Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fefcu.com
Learn more at the official website: www.fefcu.com
Mission Statement of 164 Firstenergy Family Credit Union
164 Firstenergy Family Credit Union is committed to providing its qualifying members with a wide range of financial services, including lending, savings, and other financial products. The credit union operates with a strong emphasis on member service, recognizing that its members are not just customers, but the very owners of the institution. The credit union strives to offer terms that are typically better than what is available in the marketplace. To achieve this, the credit union incurs significant costs related to direct labor and employee benefits while providing savings deposit services, originating new loans, and managing its loan portfolio for its members. The credit union's mission is centered around its members, ensuring they receive superior service and financial benefits.
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Impact
October, 2024
164 Firstenergy Family Credit Union significantly enhances the financial well-being of its members by offering competitive lending and savings services that often exceed market standards. By focusing on member service, the credit union fosters a sense of ownership among its roughly 4,512 members, ensuring that they receive personalized attention rather than being treated as mere customers.
The credit union provides approximately 4,548 deposit accounts, which contribute to the financial stability and growth of its members’ savings. Members benefit from dividends and interest that reward their participation in the credit union’s financial ecosystem. Additionally, the credit union invests in accessible services, including home banking and in-person support, ensuring that members can conveniently manage their finances.
In summary, 164 Firstenergy Family Credit Union plays a vital role in the community by prioritizing member satisfaction and providing valuable financial products, which ultimately fosters a more inclusive economy.
This information is meant to be a general summary of 164 Firstenergy Family 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: $166,315
- Program Service Revenue: $874,736
- Gross Receipts: $1,108,328
Assets and Liabilities:
- Total Assets: $44,572,146
- Total Liabilities: $38,498,761
- Net Assets: $6,073,385
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$874,736
Organization Details
Founding Year
1936
Phone
(330) 535-3611Principal Officer
Timothy Baker
Main Address
575 White Pond Dr Suite E, Akron, OH, 44320
Website
www.fefcu.comNTEE Category
Code: W60 - Public benefit
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