Overview
What is Consumers Cooperative Credit Union?
Consumers Cooperative Credit Union is a member-owned financial institution based in Gurnee, Illinois, with over 201,861 members. Established in 1930, the credit union offers lower loan rates, higher savings rates, and reduced fees to help its members attain financial success. The credit union issued a total of 33,261 loans amounting to $1,120,619,945, encompassing various loan categories such as first mortgages, commercial loans, HE and HELOC loans, and consumer loans. Their outstanding loan portfolio totals $2,946,587,419. Consumers CU's mission is to serve as a trusted financial partner for its members, empowering them to live better lives.
Official website here: www.myconsumers.org
What are the reviews and ratings of this charity?
Consumers Cooperative Credit Union is not currently rated by Charity Navigator due to its status as a non-501(c)(3) organization. Charity Navigator evaluates nonprofits registered under 501(c)(3), and hence Consumers Cooperative Credit Union cannot be assessed using their standard methodologies, such as Accountability & Finance or Impact & Measurement.
The absence of a Charity Navigator rating does not imply any positive or negative standing of the organization. In the past, evaluations were based on what now constitutes the Accountability and Finance score, but this particular credit union does not fall under the current purview due to its independent status and differing foundation classification.
There are no user reviews available on GreatNonprofits for Consumers Cooperative Credit Union, leaving us without direct feedback from their stakeholders or beneficiaries. This absence of data emphasizes the need for consumers to directly evaluate the services if interested in this nonprofit financial institution.
This AI summary has been generated from information found on Charity Navigator.
Is Consumers Cooperative Credit Union legitimate?
Consumers Cooperative Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Consumers Cooperative 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: $4,856,638
Professional Fundraising Fees: $0
Other Salaries and Wages: $39,232,634
For more financial information, click here
Official website here: www.myconsumers.org
What is the mission statement of Consumers Cooperative Credit Union?
Consumers Cooperative Credit Union's mission is geared towards acting as a trusted financial partner for its members. Since its establishment in 1930, the credit union has grown to serve over 200,000 members. It offers its members various financial services, including lower loan rates, higher savings rates, and lower fees, to help them achieve financial success. The credit union's mission is to empower its members to improve their lives through reliable financial assistance. It has issued numerous loans worth millions of dollars to its members for different purposes such as mortgages, commercial loans, home equity loans, and various consumer loans. The credit union's services totaled over $2.9 billion in loans in 2021.
Official website here: www.myconsumers.org
Who is the CEO of Consumers Cooperative Credit Union?
Sean Rathjen is the CEO of Consumers Cooperative Credit Union The CEO's salary of Consumers Cooperative Credit Union is $1,822,046 and their total compensation is $1,849,670.
Official website here: www.myconsumers.org
What is the revenue of Consumers Cooperative Credit Union?
Consumers Cooperative Credit Union's revenue in 2023 was $231,475,402.
Official website here: www.myconsumers.org
Who are the executives of Consumers Cooperative Credit Union and what are their salaries?
The average compensation at Consumers Cooperative Credit Union during 2023 was $58,551. There are 753 employees and 19 volunteers at Consumers Cooperative Credit Union.
Here are 34 key members and their salaries (Consumers Cooperative Credit Union's CEO's salary is $1,822,046 and their total compensation is $1,849,670):
- Compensation: $1,822,046
- Related: $0
- Other: $27,624
- Compensation: $1,136,800
- Related: $0
- Other: $25,861
- Compensation: $576,697
- Related: $0
- Other: $27,228
- Compensation: $513,763
- Related: $0
- Other: $24,832
- Compensation: $526,846
- Related: $0
- Other: $7,482
- Compensation: $500,734
- Related: $0
- Other: $29,401
- Compensation: $469,439
- Related: $0
- Other: $9,235
- Compensation: $447,112
- Related: $0
- Other: $8,884
- Compensation: $421,894
- Related: $0
- Other: $30,687
- Compensation: $314,635
- Related: $0
- Other: $25,269
- Compensation: $326,107
- Related: $0
- Other: $10,014
- Compensation: $259,234
- Related: $0
- Other: $19,466
- 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
- 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
- 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.myconsumers.org
Where can I find the form 990 for Consumers Cooperative Credit Union?
Consumers Cooperative Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.myconsumers.org
Learn more at the official website: www.myconsumers.org
Mission Statement of Consumers Cooperative Credit Union
Consumers Cooperative Credit Union, established in 1930, is a member-owned financial institution that empowers its 201,861 members to live better lives. The credit union's mission goes beyond offering financial services; it aims to be a trusted partner that helps its members succeed financially.
Through its commitment to its members, Consumers CU has issued over 33,000 loans, totaling nearly $1.2 billion. These loans cater to various financial needs, including first mortgages, commercial loans, home equity and home equity lines of credit (HELOC), and consumer loans. The credit union's portfolio consists of over $2.9 billion in total loans, with some loans sold to financial institutions like Fannie Mae, Federal Home Loan Bank - Chicago, Freddie Mac, and indirect and commercial participations.
Consumers Cooperative Credit Union's dedication to its members extends beyond lending services. By providing lower loan rates, higher savings rates, and lower fees, the credit union creates opportunities for its members to improve their financial well-being. In essence, the credit union is not just a financial institution; it is a partner in its members' journey towards financial success.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Consumers Cooperative Credit Union (CCU) plays a significant role in supporting the financial well-being of its 201,861 members, fostering a community-centric approach to banking since 1930. By providing lower loan rates, higher savings rates, and reduced fees, CCU enables its members to achieve their financial goals more easily.
The credit union has issued a substantial amount in loans, totaling $1,120,619,945 across various categories. This includes 33,261 loans that cover everything from first mortgages, which accounted for $173,680,717, to commercial loans worth $56,277,884. Additionally, homeowners have benefited from 304 home equity and home equity line of credit loans, totaling $11,905,357. Consumer and indirect loans also make up a significant portion, totaling $878,755,978 through 32,106 transactions.
CCU's commitment to being a trusted financial partner is reflected in its total servicing of loans amounting to $2,946,587,419, which demonstrates its robust ability to support both individual and community financial needs. This focus on empowering members translates to improved economic stability for families and businesses in the Gurnee, IL area, reinforcing CCU’s mission to enhance the lives of its members.
This information is meant to be a general summary of Consumers Cooperative 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 2023.
- Investment Income: $47,933,194
- Program Service Revenue: $184,150,220
- Gross Receipts: $231,475,402
Assets and Liabilities:
- Total Assets: $3,048,444,854
- Total Liabilities: $2,845,858,654
- Net Assets: $202,586,200
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Income
Revenue
$141,256,875
Visa & Debit Card Interchange Income
Revenue
$14,182,200
Debt Cancellation Income
Revenue
$3,308,063
Mortgage Operations Income
Revenue
$2,094,191
Service Charge/Other Income
Revenue
$23,308,891
Organization Details
Founding Year
1930
Principal Officer
Sean Rathjen
Website
www.myconsumers.orgNTEE Category
Code: W60 - Public benefit
If you are a representative of Consumers Cooperative Credit Union and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.