Overview
What is Kane County Teachers Credit Union?
Kane County Teachers Credit Union, based in Elgin, IL, is a financial institution committed to strengthening communities and serving its members. With a significant membership base, they have extended 1,360 mortgages, 4,251 auto loans, 81 student loans, and 4,954 other loans/lines of credit. The institution also manages 19,447 checking accounts, 27,996 savings accounts, 830 money market accounts, 692 certificate accounts, and 231 IRA accounts. Their mission goes beyond monetary services, focusing on community development.
Official website here: www.kctcu.org
Is Kane County Teachers Credit Union legitimate?
Kane County Teachers Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Kane County Teachers 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: $938,380
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,176,176
For more financial information, click here
Official website here: www.kctcu.org
What is the mission statement of Kane County Teachers Credit Union?
Kane County Teachers Credit Union is committed to strengthening communities by offering financial services to its members. This not-for-profit financial institution provides various loan options, including mortgages, auto loans, student loans, and lines of credit. In addition, it offers savings accounts such as share draft accounts, regular share accounts, money market accounts, share certificate accounts, and IRA accounts. By providing these financial services, Kane County Teachers Credit Union helps its members manage their finances effectively, fostering economic growth and stability within the communities it serves.
Official website here: www.kctcu.org
Who is the CEO of Kane County Teachers Credit Union?
R Michael Lee is the President/Ceo of Kane County Teachers Credit Union. The CEO's salary of Kane County Teachers Credit Union is $427,349 and their total compensation is $466,686.
Official website here: www.kctcu.org
What is the revenue of Kane County Teachers Credit Union?
Kane County Teachers Credit Union's revenue in 2022 was $22,161,800.
Official website here: www.kctcu.org
Who are the executives of Kane County Teachers Credit Union and what are their salaries?
The average compensation at Kane County Teachers Credit Union during 2022 was $40,272. There are 127 employees and 9 volunteers at Kane County Teachers Credit Union.
Here are 14 key members and their salaries (Kane County Teachers Credit Union's CEO's salary is $427,349 and their total compensation is $466,686):
- Compensation: $427,349
- Related: $0
- Other: $39,337
- Compensation: $154,655
- Related: $0
- Other: $29,675
- Compensation: $140,967
- Related: $0
- Other: $35,168
- Compensation: $117,384
- Related: $0
- Other: $31,853
- Compensation: $129,485
- Related: $0
- Other: $18,657
- 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.kctcu.org
Where can I find the form 990 for Kane County Teachers Credit Union?
Kane County Teachers Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kctcu.org
Learn more at the official website: www.kctcu.org
Mission Statement of Kane County Teachers Credit Union
Kane County Teachers Credit Union, a financial institution with a mission to build stronger communities, is dedicated to offering essential financial services to its members. With a focus on community strengthening, KCT Credit Union has provided over 1,360 mortgages and 4,251 auto loans, enabling individuals and families to secure housing and transportation. Furthermore, the credit union has facilitated 81 student loans and 4,954 other loans or lines of credit, empowering members to pursue education and various financial needs.
In addition to these loan services, KCT Credit Union provides various banking options, such as 19,447 share draft accounts, 27,996 regular share accounts, 830 money market accounts, and 692 share certificate accounts. These offerings cater to different financial preferences and savings goals. Moreover, the credit union offers 231 IRA accounts, helping members plan for their retirement and secure their financial futures. By offering these diverse financial services, Kane County Teachers Credit Union demonstrates its commitment to providing valuable resources and opportunities to its members, ultimately contributing to the strengthening of the communities it serves.
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Impact
October, 2024
Kane County Teachers Credit Union (KCT Credit Union) plays a vital role in fostering economic growth and stability within the community of Elgin, IL. By offering a wide range of financial services, KCT Credit Union empowers its members through accessible credit options, including 1,360 first and second mortgages, 4,251 auto loans, 81 student loans, and 4,954 other loans and lines of credit. This support not only facilitates home ownership and education but also enables individuals and families to enhance their mobility and financial security.
Moreover, KCT Credit Union provides various account options—19,447 share draft accounts, 27,996 regular share accounts, 830 money market accounts, 692 share certificate accounts, and 231 IRA accounts—helping members save and plan for their financial futures. With its commitment to building stronger communities, KCT Credit Union fosters financial well-being that positively impacts members and the broader community, contributing to a more robust local economy.
This information is meant to be a general summary of Kane County Teachers 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: $3,077,568
- Program Service Revenue: $18,044,157
- Gross Receipts: $22,161,800
Assets and Liabilities:
- Total Assets: $381,177,196
- Total Liabilities: $348,147,856
- Net Assets: $33,029,340
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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
$11,895,014
Member Service Fees
Revenue
$3,001,250
Credit/Debit Cards
Revenue
$1,852,463
Member Services, Other
Revenue
$1,295,430
Organization Details
Founding Year
1937
Phone
(847) 741-3344Principal Officer
R Michael Lee
Main Address
111 South Hawthorne Street, Elgin, IL, 60123
Website
www.kctcu.orgNTEE Category
Code: W60 - Public benefit
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