Synergy Partners Credit Union

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 361679800 ✦ Chicago, IL ✦ Designated as a 501(c)(14)

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Overview

What is Synergy Partners Credit Union?

Synergy Partners Credit Union is a member-centric financial institution, located in Chicago, Illinois. As an Illinois state-chartered organization, it operates with the primary goal of benefiting its members. The credit union provides consumer loans and Visa card services to its members, with a total of 300 loans outstanding and a collective loan value of $2,027,423 as of December 31, 2022. Its mission includes making loans and returning dividends to members with share deposits, offering competitive interest rates. The credit union's activities are focused on serving its members' financial needs, emphasizing mutual benefit and member satisfaction.


Official website here: www.synergypartnerscu.org

Is Synergy Partners Credit Union legitimate?

Synergy Partners Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Synergy Partners 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: $119,392
Professional Fundraising Fees: $0
Other Salaries and Wages: $32,139

For more financial information, click here


Official website here: www.synergypartnerscu.org

What is the mission statement of Synergy Partners Credit Union?

Synergy Partners Credit Union serves its members with a mission to operate as an Illinois state-chartered credit union, benefiting its members mutually. The primary activities of this credit union involve lending funds to its members and paying dividends to those with share deposits, offering competitive interest rates. The credit union provides consumer and Visa card loans to its members, with a total of 300 loans worth $2,027,423 outstanding as of December 31, 2022.


Official website here: www.synergypartnerscu.org

Who is the CEO of Synergy Partners Credit Union?

Brian Blaszak is the Chairman of Synergy Partners Credit Union.


Official website here: www.synergypartnerscu.org

What is the revenue of Synergy Partners Credit Union?

Synergy Partners Credit Union's revenue in 2022 was $363,400.


Official website here: www.synergypartnerscu.org

Who are the executives of Synergy Partners Credit Union and what are their salaries?

The average compensation at Synergy Partners Credit Union during 2022 was $50,510. There are 3 employees and 6 volunteers at Synergy Partners Credit Union.


Here are 8 key members and their salaries:


Andrew Malevitis (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Edward L Harnisch (Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Brian E Blaszak (President-Treasurer)
  • Compensation: $66,950
  • Related: $0
  • Other: $4,550
Norbert Binkowski (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Edward Jarmuszka (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Clark Morgan (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sonia Perez (Vp-Assistant Treasurer)
  • Compensation: $44,844
  • Related: $0
  • Other: $3,048
Rose Zivat (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.synergypartnerscu.org

Where can I find the form 990 for Synergy Partners Credit Union?

Synergy Partners Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.synergypartnerscu.org

Learn more at the official website: www.synergypartnerscu.org

Mission Statement of Synergy Partners Credit Union

Synergy Partners Credit Union, as an Illinois state-chartered organization, is dedicated to serving its members for their mutual benefit. Its primary mission involves extending loans to its members and offering competitive interest rates on share deposits through dividends. By operating in this manner, the credit union aims to foster a sense of communal prosperity among its members. The credit union provides consumer and Visa card loans to its members, with a total of 300 loans outstanding as of December 31, 2022, amounting to $2,027,423. This indicates the credit union's active role in providing financial support to its members, further emphasizing its mission of mutual benefit.

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Impact




October, 2024

Synergy Partners Credit Union significantly contributes to the financial well-being of its members by offering tailored loan products and competitive dividends on share deposits. Operating as an Illinois state-chartered credit union in Chicago, it focuses on creating a supportive financial environment for its members. As of December 31, 2022, the credit union had issued 300 loans totaling $2,027,423, highlighting its role in facilitating access to credit for individuals in the community. This emphasis on providing loans not only meets the immediate needs of its members but also fosters long-term financial stability and growth. By prioritizing the mutual benefit of its members, Synergy Partners Credit Union plays a vital role in enhancing the overall economic health of the local community.




This information is meant to be a general summary of Synergy Partners 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.

Revenue
$363,400 (2022)
201120122013201420152016201720182019202020212022$0$150k$300k$450k$600k
Expenses
$350,911 (2022)
201120122013201420152016201720182019202020212022$0$150k$300k$450k$600k
Efficiency
2011201220132014201520162017201820192020202120220%9%18%27%43%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $159,278
  • Program Service Revenue: $178,122
  • Gross Receipts: $363,400

Assets and Liabilities:

  • Total Assets: $13,350,868
  • Total Liabilities: $10,637,748
  • Net Assets: $2,713,120

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

Income from loans

Revenue

$107,483

Fees and income

Revenue

$70,639

Organization Details

Founding Year

1935

Principal Officer

Brian Blaszak

Main Address

11615 S Avenue O, Chicago, IL, 60617

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