Overview
What is Generations Credit Union?
Generations Credit Union is a financial institution located at 5618 Harrison Ave, Rockford, IL, serving a membership of 505 individuals. The credit union offers various savings plans, including a Christmas savings plan, Fortune Fund accounts, and Vacation club accounts. Furthermore, it provides checking accounts to 766 members and IRAs and Certificate of Deposit accounts to 193 members. By offering these financial services, the credit union aims to provide its members with high-quality, low-cost, and high-return loans and savings accounts in a friendly and personal atmosphere, as outlined in their mission statement. The total balance on deposit for its members is $17,968,825, with a workforce of 12 employees.
Official website here: www.generationscu.org
Is Generations Credit Union legitimate?
Generations Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Generations 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: $96,471
Professional Fundraising Fees: $0
Other Salaries and Wages: $189,576
For more financial information, click here
Official website here: www.generationscu.org
What is the mission statement of Generations Credit Union?
Generations Credit Union's mission is centered around serving its members by offering a comprehensive range of financial services, including loans and savings accounts, at competitive rates and with a personal touch. The union strives to deliver these services in a friendly atmosphere, ensuring member satisfaction. As part of its operations, Generations Credit Union has provided various savings plans, checking accounts, and investment options to its members, contributing to a significant deposit balance.
Official website here: www.generationscu.org
Who is the CEO of Generations Credit Union?
Karen Jurasek is the President - Treasurer of Generations Credit Union.
Official website here: www.generationscu.org
What is the revenue of Generations Credit Union?
Generations Credit Union's revenue in 2022 was $938,123.
Official website here: www.generationscu.org
Who are the executives of Generations Credit Union and what are their salaries?
The average compensation at Generations Credit Union during 2022 was $23,837. There are 12 employees at Generations Credit Union.
Here are 12 key members and their salaries:
- Compensation: $88,354
- Related: $0
- Other: $8,117
- 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.generationscu.org
Where can I find the form 990 for Generations Credit Union?
Generations Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.generationscu.org
Learn more at the official website: www.generationscu.org
Mission Statement of Generations Credit Union
Generations Credit Union, as an organization, is committed to serving its members by offering a comprehensive array of financial services. These services encompass loans and savings accounts, all delivered with a focus on affordability and competitive returns. The credit union prides itself on delivering these offerings in a welcoming and personal atmosphere. In practice, this mission translates into providing Christmas savings plans, Fortune Fund accounts, and Vacation club accounts to 505 members. Additionally, Generations Credit Union extends checking accounts to 766 members and offers IRAs and Certificate of Deposit accounts to 193 members. The credit union also receives deposits on share accounts from a substantial number of members, accumulating a total balance on deposit of $17,968,825. In summary, Generations Credit Union is dedicated to providing high-quality financial services to its members at the most cost-effective rates, while maintaining a friendly, personal approach.
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
Generations Credit Union significantly impacts its community by offering high-quality, full-service financial solutions tailored to the needs of its members. The organization provides a range of services, including loans, savings accounts, checking accounts, and various savings plans like Christmas savings plans and vacation club accounts. In the past year, 505 members utilized these specialized savings options, while checking accounts were opened for 766 members, and investments through IRAs and Certificates of Deposit were offered to 193 individuals.
The credit union fosters a supportive environment, placing a strong emphasis on personal relationships with its members. With deposits from 1,870 members, Generations Credit Union has amassed a total balance of nearly $18 million in share accounts. This financial stability allows the institution to continue providing services at the lowest cost and with the highest rate of return, ultimately empowering members to achieve their financial goals and improve their overall well-being.
This information is meant to be a general summary of Generations 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: $108,588
- Program Service Revenue: $756,506
- Gross Receipts: $1,677,123
Assets and Liabilities:
- Total Assets: $21,406,121
- Total Liabilities: $18,130,068
- Net Assets: $3,276,053
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
$594,513
Fees and Other Income
Revenue
$153,597
Group Insurance Income
Revenue
$8,396
Organization Details
Founding Year
1944
Phone
(815) 316-2900Principal Officer
Karen Jurasek
Main Address
5618 Harrison Ave, Rockford, IL, 611088110
Website
www.generationscu.orgNTEE Category
Code: W60 - Public benefit
If you are a representative of Generations 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.