Overview
What is Great Lakes Credit Union?
Great Lakes Credit Union, based in Bannockburn, Illinois, is a nonprofit financial institution with a membership of 79,204 individuals. Their primary mission is to offer loans, savings accounts, and diverse financial services that foster the financial well-being of their members. In 2022, they provided 598 mortgages totaling over $312 million, 2,273 vehicle loans worth $70.7 million, and 9,539 consumer loans amounting to $92.3 million. The credit union's activities are geared towards enhancing the financial prosperity of its members. With a dedicated workforce of 343 employees, Great Lakes Credit Union continues to expand its reach and provide essential financial services.
Official website here: www.gclu.org
What are the reviews and ratings of this charity?
The Great Lakes Credit Union is not currently rated by Charity Navigator because it is not a 501(c)(3) IRS registered nonprofit. Charity Navigator evaluates organizations using several criteria including Accountability & Finance, but these metrics are applicable only to 501(c)(3) entities. The absence of a rating does not imply a negative or positive evaluation; it simply reflects the structural and regulatory differences of the organization.
Without the classification as a 501(c)(3), many of Charity Navigator's standard evaluation methodologies, such as Impact & Measurement and Culture & Community, do not apply. Furthermore, information such as revenue, expenses, and key person salaries is unavailable, limiting further assessment. This underscores the challenges in applying traditional nonprofit evaluation frameworks to organizations like Great Lakes Credit Union.
Currently, there are no user reviews available on GreatNonprofits for the Great Lakes Credit Union. This lack of user-generated feedback means there is limited public insight into the experiences and perceptions of the community that interacts with or benefits from the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Great Lakes Credit Union legitimate?
Great Lakes Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Great Lakes 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: $1,645,611
Professional Fundraising Fees: $0
Other Salaries and Wages: $15,793,424
For more financial information, click here
Official website here: www.gclu.org
What is the mission statement of Great Lakes Credit Union?
Great Lakes Credit Union (GLCU) strives to enhance the financial well-being of its 79,204 members by offering them loans, savings accounts, and other financial services. The primary objective of the credit union is to promote financial prosperity among its members. In 2022, GLCU granted a substantial number of loans, including 598 mortgages worth $312,991,728, 2,273 vehicle loans totaling $70,679,543, and 9,539 consumer loans totaling $92,301,810. Through these financial offerings, GLCU empowers its members to improve their financial situations and secure a better future.
Official website here: www.gclu.org
Who is the CEO of Great Lakes Credit Union?
Unavailable The CEO's salary of Great Lakes Credit Union is $539,409 and their total compensation is $616,251.
Official website here: www.gclu.org
What is the revenue of Great Lakes Credit Union?
Great Lakes Credit Union's revenue in 2022 was $54,056,794.
Official website here: www.gclu.org
Who are the executives of Great Lakes Credit Union and what are their salaries?
The average compensation at Great Lakes Credit Union during 2022 was $50,843. There are 343 employees and 11 volunteers at Great Lakes Credit Union.
Here are 20 key members and their salaries (Great Lakes Credit Union's CEO's salary is $539,409 and their total compensation is $616,251):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $228,235
- Related: $0
- Other: $55,213
- Compensation: $70,035
- Related: $0
- Other: $4,953
- Compensation: $254,494
- Related: $0
- Other: $55,901
- Compensation: $177,815
- Related: $0
- Other: $43,603
- Compensation: $539,409
- Related: $0
- Other: $76,842
- Compensation: $128,661
- Related: $0
- Other: $10,451
- Compensation: $253,102
- Related: $0
- Other: $11,749
- Compensation: $232,018
- Related: $0
- Other: $9,815
- Compensation: $269,519
- Related: $0
- Other: $3,949
- Compensation: $194,442
- Related: $0
- Other: $25,234
- Compensation: $240,319
- Related: $0
- Other: $8,733
Official website here: www.gclu.org
Where can I find the form 990 for Great Lakes Credit Union?
Great Lakes Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gclu.org
Learn more at the official website: www.gclu.org
Mission Statement of Great Lakes Credit Union
Great Lakes Credit Union (GLCU), a financial institution with a membership base of 79,204 individuals, is dedicated to enhancing the financial well-being of its members. The organization's primary objective is to offer loans, savings accounts, and a variety of financial services that foster financial growth amongst its members.
Loans are extended to individuals who maintain good standing with the credit union and meet the eligibility criteria for such loans. In 2022, GLCU issued 598 mortgages amounting to $312,991,728, underscoring the organization's commitment to helping members secure affordable housing. Additionally, 2,273 vehicle loans worth $70,679,543 and 9,539 consumer loans totaling $92,301,810 were granted during the same year. These figures demonstrate the extensive reach and impact of GLCU's lending services.
By providing access to a range of financial products, GLCU aims to empower its members to build a solid financial foundation. The credit union's dedication to promoting financial prosperity is a testament to its mission and the value it places on the financial well-being of its members.
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Impact
October, 2024
Great Lakes Credit Union (GLCU) plays a significant role in promoting financial prosperity for its 79,204 members. By offering a range of financial services, including loans and savings accounts, GLCU empowers individuals to achieve their financial goals. In 2022, the credit union granted 598 mortgages totaling nearly $313 million, facilitated 2,273 vehicle loans amounting to over $70 million, and provided 9,539 consumer loans totaling approximately $92 million. This financial support not only enhances individual financial stability but also contributes to the broader economic well-being of the Bannockburn community and beyond. Through its commitment to serving members in good standing, GLCU fosters a sense of community and promotes responsible financial practices.
This information is meant to be a general summary of Great Lakes 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: $3,283,036
- Program Service Revenue: $50,491,977
- Gross Receipts: $54,464,412
Assets and Liabilities:
- Total Assets: $1,341,546,042
- Total Liabilities: $1,245,630,336
- Net Assets: $95,915,706
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$35,552,489
SERVICE FEE INCOME
Revenue
$4,425,487
ATM/CREDIT CARD SERVICES
Revenue
$3,865,495
Mortgage Loan Income
Revenue
$346,436
Fee/Other Misc Income
Revenue
$6,302,070
Organization Details
Founding Year
1938
Phone
(847) 578-7000Main Address
2111 Waukegan Road, Bannockburn, IL, 60015
Website
www.gclu.orgNTEE Category
Code: W60 - Public benefit
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