Overview
What is Members Source Credit Union?
Members Source Credit Union is a not-for-profit financial institution located at 8580 Virginia Street, Merrillville, Indiana 46410. Established with the mission to promote thrift and provide affordable loans to its members, this cooperative organization operates on the principle of mutual benefit. The credit union, staffed by 38 employees, offers a wide range of financial products and services, upholding the philosophy of 'people helping people'. By operating on a cooperative basis, Members Source Credit Union aims to cater to the financial needs of its members effectively.
Official website here: www.ms-cu.com
What do the Facebook reviews say about Members Source Credit Union?
88% of the 14 reviewers on Facebook recommend Members Source Credit Union. Here is a summary of their reviews:
Many users express satisfaction with the quality of service and the personalized advice offered by the credit union. Customers appreciate the responsive and helpful staff, indicating that their financial inquiries and needs are met with care and professionalism.
Overall, it appears Members Source Credit Union delivers a solid experience for its members, as most reviewers highlight the positive interactions they have with both the service and the guidance provided about financial matters.
This AI summary has been generated from reviews found on Facebook.
Is Members Source Credit Union legitimate?
Members Source Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Members Source 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: $149,833
Professional Fundraising Fees: $0
Other Salaries and Wages: $896,847
For more financial information, click here
Official website here: www.ms-cu.com
What is the mission statement of Members Source Credit Union?
Members Source Credit Union, as a not-for-profit entity owned by its members, is committed to upholding the credit union philosophy of 'people helping people.' The institution provides a comprehensive range of financial products and services. Its mission is focused on promoting thrift and offering affordable loans to its members, operating on a cooperative basis for their collective benefit.
Official website here: www.ms-cu.com
Who is the CEO of Members Source Credit Union?
James Falls is the Chairman of Members Source Credit Union. The CEO's salary of Members Source Credit Union is $114,505 and their total compensation is $149,833.
Official website here: www.ms-cu.com
What is the revenue of Members Source Credit Union?
Members Source Credit Union's revenue in 2022 was $3,726,820.
Official website here: www.ms-cu.com
Who are the executives of Members Source Credit Union and what are their salaries?
The average compensation at Members Source Credit Union during 2022 was $27,544. There are 38 employees and 13 volunteers at Members Source Credit Union.
Here are 10 key members and their salaries (Members Source Credit Union's CEO's salary is $114,505 and their total compensation is $149,833):
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $114,505
- Related: $0
- Other: $35,328
Official website here: www.ms-cu.com
Where can I find the form 990 for Members Source Credit Union?
Members Source Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ms-cu.com
Learn more at the official website: www.ms-cu.com
Mission Statement of Members Source Credit Union
Members Source Credit Union, as a not-for-profit organization, is deeply committed to upholding the principle of 'people helping people.' In line with this philosophy, the credit union offers a comprehensive array of financial products and services to its members. Its primary mission is to foster thrift among its members and provide them with affordable loan options. This is achieved through a cooperative approach, benefiting its members collectively. The credit union's operations are guided by the belief that by working together, its members can enjoy financial advantages that may not be available to them individually.
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Impact
October, 2024
Members Source Credit Union demonstrates a profound impact within the community by fostering financial well-being and promoting thrift among its members. As a member-owned financial institution based in Merrillville, IN, it adheres to the cooperative principle of "people helping people," ensuring that the services offered are tailored to meet the needs of its members.
By providing access to a full range of financial products and services, Members Source Credit Union enables its members to achieve their financial goals more affordably. This is particularly significant as it allows members to secure low-cost loans, helping them make important investments while maintaining financial stability. The credit union creates a supportive environment where individuals can thrive through shared resources and mutual benefit.
Overall, Members Source Credit Union plays a crucial role in enhancing the financial landscape for its members, reinforcing a community-centered approach to banking that prioritizes the needs and welfare of individuals over profits.
This information is meant to be a general summary of Members Source 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: $621,241
- Program Service Revenue: $3,105,579
- Gross Receipts: $3,735,052
Assets and Liabilities:
- Total Assets: $93,824,009
- Total Liabilities: $82,871,041
- Net Assets: $10,952,968
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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
$1,811,247
Miscellaneous operatin
Revenue
$851,565
Fee income
Revenue
$405,401
Other non-operating in
Revenue
$37,366
Organization Details
Founding Year
1935
Phone
(219) 765-4141Principal Officer
James Falls
Main Address
8580 Virginia Street, Merrillville, IN, 46410
Website
www.ms-cu.comNTEE Category
Code: W60 - Public benefit
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