Overview
What is Friends And Family Credit Union?
Friends and Family Credit Union is a financial institution established in 1958 to cater to the financial needs of employees in the Massillon School System. Over the years, it expanded its eligibility criteria to include all businesses, individuals, and their families living, working, worshiping, or attending school in Stark County, Ohio. The credit union serves as a full-service financial institution, offering various types of loans, such as automobile, mortgage, unsecured, real estate, and more, to provide its members with financial flexibility and encourage savings. As of year-end, it had 6,123 outstanding loans. The mission of Friends and Family Credit Union is to serve its members, with a volunteer board of directors setting policies and the profits being returned to members in the form of higher savings interest, lower loan rates, and reduced service fees. With a dedicated staff of 33, it remains committed to servicing its membership, making it an essential financial resource for the community.
Official website here: www.friendsandfamilycu.com
Is Friends And Family Credit Union legitimate?
Friends And Family Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Friends And 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: $113,997
Professional Fundraising Fees: $0
Other Salaries and Wages: $872,795
For more financial information, click here
Official website here: www.friendsandfamilycu.com
What is the mission statement of Friends And Family Credit Union?
Friends and Family Credit Union's mission is centered around serving the financial needs of its members. Originally established in 1958 to cater to the employees of the Massillon School System, the credit union expanded its eligibility in 2001 to include all businesses, individuals, and families residing, working, worshiping, or attending school in Stark County, Ohio. As a full-service financial institution, Friends and Family Credit Union is committed to serving its membership effectively. The credit union's friendly staff is dedicated to returning profits to its members in the form of higher savings interest rates, lower loan interest rates, and lower service fees. Members also have the opportunity to elect a volunteer board of directors that sets policies for the credit union.
Official website here: www.friendsandfamilycu.com
Who is the CEO of Friends And Family Credit Union?
Jeanna Costanzo is the Chairman of Friends And Family Credit Union. The CEO's salary of Friends And Family Credit Union is $98,315 and their total compensation is $113,997.
Official website here: www.friendsandfamilycu.com
What is the revenue of Friends And Family Credit Union?
Friends And Family Credit Union's revenue in 2022 was $4,365,367.
Official website here: www.friendsandfamilycu.com
Who are the executives of Friends And Family Credit Union and what are their salaries?
The average compensation at Friends And Family Credit Union during 2022 was $29,903. There are 33 employees and 7 volunteers at Friends And Family Credit Union.
Here are 8 key members and their salaries (Friends And Family Credit Union's CEO's salary is $98,315 and their total compensation is $113,997):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $98,315
- Related: $0
- Other: $15,682
Official website here: www.friendsandfamilycu.com
Where can I find the form 990 for Friends And Family Credit Union?
Friends And Family Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.friendsandfamilycu.com
Learn more at the official website: www.friendsandfamilycu.com
Mission Statement of Friends And Family Credit Union
Friends and Family Credit Union is dedicated to addressing the financial needs of its members. Established in 1958 to serve the employees of the Massillon School System, this credit union has since expanded its eligibility criteria to include all businesses, individuals, and their families who reside, work, worship, or attend school in Stark County, Ohio. As a full-service financial institution, Friends and Family Credit Union is committed to providing exceptional service to its membership.
The mission of Friends and Family Credit Union is twofold. Firstly, it aims to serve the financial needs of its members. This includes offering higher interest rates on savings, lower interest rates on loans, and lower service fees. The second part of their mission is to ensure that the credit union operates for the benefit of its members. The profits generated by the credit union are returned to its members, making them the true owners of the institution. To oversee the policies and operations of the credit union, a volunteer board of directors is elected by the membership. This board is responsible for setting the policies that guide the credit union's operations, ensuring that it remains a member-focused organization.
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Impact
October, 2024
Friends And Family Credit Union significantly impacts its community by addressing the financial needs of its members through a variety of loan options. With over 6,000 loans outstanding, the credit union provides vital financial flexibility to individuals in Massillon, Ohio, and Stark County. Members benefit from competitive interest rates on savings and loans, along with lower service fees, which enhance their financial well-being.
Founded in 1958, the organization initially served employees of the Massillon School System but has since expanded its reach to encompass all residents and workers in the area. By engaging with local businesses and families, Friends And Family Credit Union fosters a sense of community ownership, as members are also stakeholders in the financial institution. The system by which members elect a volunteer board of directors ensures that the governance reflects the interests of the community.
Overall, Friends And Family Credit Union's commitment to its members results in positive economic impacts, promoting financial literacy, security, and stability within the community it serves.
This information is meant to be a general summary of Friends And 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: $191,462
- Program Service Revenue: $4,166,850
- Gross Receipts: $4,391,934
Assets and Liabilities:
- Total Assets: $109,610,235
- Total Liabilities: $102,133,091
- Net Assets: $7,477,144
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER LOANS-INTEREST
Revenue
$2,727,134
DEBIT CARD SERVICES
Revenue
$742,578
FEES AND CHARGES
Revenue
$697,138
Organization Details
Founding Year
1958
Phone
(330) 832-1371Principal Officer
Jeanna Costanzo
Main Address
PO BOX 1250, MASSILLON, OH, 44646
Website
www.friendsandfamilycu.comNTEE Category
Code: W60 - Public benefit
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