Overview
What is Commonwealth Credit Union?
Commonwealth Credit Union is a nonprofit financial institution situated in Bourbonnais, Illinois. Serving the communities of Kankakee, Ford, Iroquois, Grundy, Kendall, Livingston, and Will Counties in Illinois, the credit union offers affordable financial services to its members. Its mission is to establish enduring relationships with its members, one at a time, by providing essential financial services. With a dedicated workforce of 34 employees, Commonwealth Credit Union strives to build strong, lasting connections with its members.
Official website here: www.cwcu.com
What do the Facebook reviews say about Commonwealth Credit Union?
86% of 22 reviewers on Facebook endorse Commonwealth Credit Union. Here’s an overview of their experiences:
Many users appreciate the friendly and helpful nature of the staff, highlighting the quality of service provided. The organization is commended for its competitive rates and the welcoming atmosphere it creates for members. Reviewers often express satisfaction with being part of a shareholder-owned institution, reflecting a sense of community and involvement.
Overall, the sentiment towards Commonwealth Credit Union is largely positive, with members feeling supported and valued in their financial endeavors. This nonprofit appears to successfully deliver on its promises of excellent service and inclusive membership.
This AI summary has been generated from reviews found on Facebook.
Is Commonwealth Credit Union legitimate?
Commonwealth Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Commonwealth 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: $166,089
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,028,878
For more financial information, click here
Official website here: www.cwcu.com
What is the mission statement of Commonwealth Credit Union?
The mission of Commonwealth Credit Union is centered around establishing lasting relationships with its members. This financial institution strives to achieve this goal by serving each member individually. Located in several counties in Illinois, Commonwealth Credit Union offers affordable financial services to its members. By focusing on building these relationships, the credit union aims to contribute positively to the financial well-being of its members. The organization's activities are geared towards providing low-cost financial services, thereby fostering financial stability for its members.
Official website here: www.cwcu.com
Who is the CEO of Commonwealth Credit Union?
Raeann Love is the President/Ce of Commonwealth Credit Union.
Official website here: www.cwcu.com
What is the revenue of Commonwealth Credit Union?
Commonwealth Credit Union's revenue in 2022 was $4,135,024.
Official website here: www.cwcu.com
Who are the executives of Commonwealth Credit Union and what are their salaries?
The average compensation at Commonwealth Credit Union during 2022 was $35,146. There are 34 employees at Commonwealth Credit Union.
Here are 8 key members and their salaries:
- Compensation: $166,089
- Related: $0
- Other: $0
- Compensation: $135,827
- 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.cwcu.com
Where can I find the form 990 for Commonwealth Credit Union?
Commonwealth Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cwcu.com
Learn more at the official website: www.cwcu.com
Mission Statement of Commonwealth Credit Union
Commonwealth Credit Union, in its mission, aims to build lasting relationships with each of its members. This mission is carried out by offering affordable financial services to its members residing in Kankakee, Ford, Iroquois, Grundy, Kendall, Livingston, and Will Counties in Illinois. By focusing on building strong connections with each individual member, the credit union seeks to establish a sense of community and trust, fostering long-term relationships that benefit both the institution and its members.
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Impact
October, 2024
Commonwealth Credit Union makes a significant impact by providing low-cost financial services to members in Kankakee, Ford, Iroquois, Grundy, Kendall, Livingston, and Will Counties in Illinois. Focused on building lifelong relationships, the credit union emphasizes personalized service and community engagement, fostering financial well-being among its members. By addressing the specific needs of individuals and families in the area, Commonwealth Credit Union empowers them to achieve their financial goals, ultimately enhancing the overall economic health of the communities it serves.
This information is meant to be a general summary of Commonwealth 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: $388,512
- Program Service Revenue: $3,521,269
- Gross Receipts: $4,135,024
Assets and Liabilities:
- Total Assets: $118,201,063
- Total Liabilities: $106,551,206
- Net Assets: $11,649,857
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$2,771,674
SERVICE FEES AND INTERCHANGE
Revenue
$749,595
Organization Details
Founding Year
1951
Phone
(815) 937-7447Principal Officer
Raeann Love
Main Address
P O BOX 380, BOURBONNAIS, IL, 60914
Website
www.cwcu.comNTEE Category
Code: W60 - Public benefit
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