Overview
What is Members Advantage Credit Union?
Members Advantage Credit Union, based in Michigan City, Indiana, is a state-chartered financial institution that operates on a cooperative basis. Its primary mission is to promote thrift and provide affordable loans to its members. As a full-service financial institution, it offers a range of products and services, including various loans, interest-bearing checking accounts, and money market accounts. With a dedicated workforce of 29 employees, Members Advantage Credit Union aims to benefit its members by offering these financial services on a mutual advantage basis.
Official website here: www.macuonline.org
Is Members Advantage Credit Union legitimate?
Members Advantage Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Members Advantage 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: $277,705
Professional Fundraising Fees: $0
Other Salaries and Wages: $962,124
For more financial information, click here
Official website here: www.macuonline.org
What is the mission statement of Members Advantage Credit Union?
Members Advantage Credit Union, as a state-chartered financial institution, is dedicated to promoting savings among its members and providing them with affordable loans. This is achieved through a cooperative approach, benefiting all members within its field. The primary goal is to offer a range of financial products and services, such as various loans, interest-bearing checking accounts, and other monetary services, all with the aim of mutual benefit for its members.
Official website here: www.macuonline.org
Who is the CEO of Members Advantage Credit Union?
Frank Beachnau is the CEO of Members Advantage Credit Union The CEO's salary of Members Advantage Credit Union is $142,171 and their total compensation is $176,355.
Official website here: www.macuonline.org
What is the revenue of Members Advantage Credit Union?
Members Advantage Credit Union's revenue in 2024 was $6,037,069.
Official website here: www.macuonline.org
Who are the executives of Members Advantage Credit Union and what are their salaries?
The average compensation at Members Advantage Credit Union during 2024 was $45,920. There are 27 employees at Members Advantage Credit Union.
Here are 8 key members and their salaries (Members Advantage Credit Union's CEO's salary is $142,171 and their total compensation is $176,355):
- Compensation: $0
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- Other: $0
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- Other: $0
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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: $135,534
- Related: $0
- Other: $36,595
- Compensation: $142,171
- Related: $0
- Other: $34,184
Official website here: www.macuonline.org
Where can I find the form 990 for Members Advantage Credit Union?
Members Advantage Credit Union's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.macuonline.org
Learn more at the official website: www.macuonline.org
Mission Statement of Members Advantage Credit Union
Members Advantage Credit Union, as a state-chartered financial institution, is committed to fostering savings and providing affordable loans to its members on a cooperative basis. The organization's mission is geared towards benefiting its members collectively, offering a wide array of financial products and services such as various loans, interest-bearing checking accounts, and other monetary services. This mission is carried out with the intention of promoting thrift and ensuring that Members Advantage Credit Union members can access credit at reasonable rates. The institution operates on a cooperative model, fostering a sense of mutual benefit among its members.
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Impact
October, 2024
Members Advantage Credit Union plays a significant role in fostering financial well-being within the Michigan City community. By offering a wide range of products and services such as various loans, interest-bearing checking accounts, and money management options, the credit union facilitates access to affordable financial solutions. Its primary mission to promote thrift and provide low-cost loans supports members' financial goals, ultimately enhancing their quality of life.
The cooperative nature of Members Advantage allows for a shared commitment to mutual benefit, ensuring that the needs and interests of its members are prioritized. This focus on community improvement not only strengthens local economic stability but also encourages responsible financial habits among its members. Through these efforts, Members Advantage Credit Union contributes to the overall growth and prosperity of the community it serves.
This information is meant to be a general summary of Members Advantage 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 2024.
- Investment Income: $1,594,066
- Program Service Revenue: $4,443,003
- Gross Receipts: $6,037,069
Assets and Liabilities:
- Total Assets: $126,862,726
- Total Liabilities: $121,132,843
- Net Assets: $5,729,883
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INCOME
Revenue
$3,005,305
OTHER INCOME
Revenue
$774,999
FEE INCOME
Revenue
$662,699
Organization Details
Founding Year
1962
Principal Officer
Robert Havens
Website
www.macuonline.orgNTEE Category
Code: S20 - Community improvement
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