Overview
What is Illinois Valley Credit Union?
Illinois Valley Credit Union is a state-chartered credit union, established to benefit its over 3,400 members. Situated in Peru, Illinois, the credit union's primary focus is on providing consumer and real estate loans to its members. As of December 31, 2022, the credit union had 2,094 active loans totaling $34,590,518. The credit union operates with a mission to serve its members, offering them competitive interest rates on share deposits and loan services. With a team of 14 dedicated employees, Illinois Valley Credit Union is committed to enhancing its members' financial well-being.
Official website here: www.ivcu.com
Is Illinois Valley Credit Union legitimate?
Illinois Valley Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Illinois Valley 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: $140,594
Professional Fundraising Fees: $0
Other Salaries and Wages: $181,507
For more financial information, click here
Official website here: www.ivcu.com
What is the mission statement of Illinois Valley Credit Union?
Illinois Valley Credit Union, as a state-chartered institution, is dedicated to serving its over 3,400 members for their mutual benefit. The credit union's primary activities involve providing loans to its members and offering competitive dividends on share deposits. The credit union extends consumer loans and real estate loans to its members, with a total of 2,094 loans outstanding worth $34,590,518 as of December 31, 2022. The mission of Illinois Valley Credit Union is to operate in the best interest of its members, offering them financial services and benefits that foster financial growth and stability.
Official website here: www.ivcu.com
Who is the CEO of Illinois Valley Credit Union?
Thomas J Kist is the Chairperson of Illinois Valley Credit Union.
Official website here: www.ivcu.com
What is the revenue of Illinois Valley Credit Union?
Illinois Valley Credit Union's revenue in 2022 was $1,872,703.
Official website here: www.ivcu.com
Who are the executives of Illinois Valley Credit Union and what are their salaries?
The average compensation at Illinois Valley Credit Union during 2022 was $23,007. There are 14 employees and 7 volunteers at Illinois Valley Credit Union.
Here are 8 key members and their salaries:
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- Compensation: $117,440
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- Other: $23,154
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- Other: $0
Official website here: www.ivcu.com
Where can I find the form 990 for Illinois Valley Credit Union?
Illinois Valley Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ivcu.com
Learn more at the official website: www.ivcu.com
Mission Statement of Illinois Valley Credit Union
Illinois Valley Credit Union, a state-chartered organization, is committed to serving its over 3,400 members for their mutual benefit. The credit union's primary mission is to extend loans to its members and pay competitive dividends to those with share deposits. In practical terms, this means that Illinois Valley Credit Union provides consumer loans and real estate loans to its members, and it ensures that members with savings receive appropriate interest rates. As of December 31, 2022, the credit union had 2,094 outstanding loans, totaling $34,590,518. In essence, Illinois Valley Credit Union operates as a financial cooperative, working towards the prosperity of its members.
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Impact
October, 2024
Illinois Valley Credit Union significantly contributes to the financial well-being of its over 3,400 members through accessible consumer and real estate loan options. With a total of 2,094 loans outstanding as of December 31, 2022, amounting to $34,590,518, the credit union plays a vital role in supporting the financial needs of individuals and families in the community. By offering competitive interest rates on both loans and dividends on share deposits, Illinois Valley Credit Union enhances its members’ economic opportunities and fosters financial stability. This focus on mutual benefit not only empowers members but also strengthens the local economy in Peru, Illinois.
This information is meant to be a general summary of Illinois Valley 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: $19,739
- Program Service Revenue: $1,839,964
- Gross Receipts: $1,872,703
Assets and Liabilities:
- Total Assets: $38,076,733
- Total Liabilities: $34,164,489
- Net Assets: $3,912,244
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest-member loans
Revenue
$1,384,340
Service fees
Revenue
$238,552
Transaction fees
Revenue
$217,072
Organization Details
Founding Year
1955
Phone
(815) 224-2667Principal Officer
Thomas J Kist
Main Address
1311 Shooting Park Road, Peru, IL, 61354
Website
www.ivcu.comNTEE Category
Code: W60 - Public benefit
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