Overview
What is Maroon Financial Credit Union?
Maroon Financial Credit Union is a member-benefitting financial institution, chartered in Illinois, that offers consumer and real estate loans to its members. As of December 31, 2022, the credit union has extended loans to 1,950 members, totaling $31,434,446. This Illinois-based organization operates with a mission to provide loan services to its members and offer competitive interest rates on share deposits, all contributing to its mutual benefit structure. The credit union is headquartered at 5525-C S Ellis Avenue, Chicago, IL 60637, and employs a team of 16 individuals.
Official website here: www.maroonfinancial.org
Is Maroon Financial Credit Union legitimate?
Maroon Financial Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Maroon Financial 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: $297,985
Professional Fundraising Fees: $0
Other Salaries and Wages: $548,951
For more financial information, click here
Official website here: www.maroonfinancial.org
What is the mission statement of Maroon Financial Credit Union?
Maroon Financial Credit Union, as a mutually beneficial Illinois-chartered institution, exists to provide loans to its members and distribute dividends with competitive interest rates on share deposits. Its primary activities involve offering consumer loans and real estate loans to its membership base. As of December 31, 2022, the credit union had 1,950 outstanding loans totaling $31,434,446. In essence, Maroon Financial Credit Union is committed to serving its members financially by offering affordable loan options and generating returns on share deposits.
Official website here: www.maroonfinancial.org
Who is the CEO of Maroon Financial Credit Union?
Scott Muniz is the Chairman of Maroon Financial Credit Union.
Official website here: www.maroonfinancial.org
What is the revenue of Maroon Financial Credit Union?
Maroon Financial Credit Union's revenue in 2022 was $2,844,638.
Official website here: www.maroonfinancial.org
Who are the executives of Maroon Financial Credit Union and what are their salaries?
The average compensation at Maroon Financial Credit Union during 2022 was $52,934. There are 16 employees at Maroon Financial Credit Union.
Here are 11 key members and their salaries:
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- Compensation: $133,601
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- Other: $13,362
- Compensation: $115,792
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- Other: $19,970
Official website here: www.maroonfinancial.org
Where can I find the form 990 for Maroon Financial Credit Union?
Maroon Financial Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.maroonfinancial.org
Learn more at the official website: www.maroonfinancial.org
Mission Statement of Maroon Financial Credit Union
Maroon Financial Credit Union, as an Illinois state-chartered credit union, is dedicated to serving its members for their mutual benefit. The credit union's primary mission revolves around extending loans to its members and distributing dividends to those with share deposits, offering competitive interest rates. By operating in this manner, Maroon Financial Credit Union aims to foster a sense of community and financial well-being among its members. The credit union's activities encompass offering and managing consumer loans and real estate loans to its members, with a total of 1,950 loans worth $31,434,446 outstanding as of December 31, 2022. In essence, Maroon Financial Credit Union functions as a financial cooperative, working towards the betterment of its members by providing them with essential financial services.
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Impact
October, 2024
Maroon Financial Credit Union significantly impacts its members and the broader Chicago community by providing essential financial services tailored to their needs. By operating as a member-focused institution, the credit union makes and services consumer loans and real estate loans, facilitating access to funds that members may require for various purposes, such as purchasing homes, vehicles, or financing personal projects.
As of December 31, 2022, Maroon Financial Credit Union has managed 1,950 outstanding loans, amounting to over $31 million. This reflects its commitment to lending and supporting its members' financial aspirations. Additionally, the credit union offers competitive dividends on share deposits, encouraging savings while simultaneously helping its members grow their wealth.
Through its operations, Maroon Financial Credit Union fosters a sense of community and economic empowerment among its members, enhancing financial stability and providing a reliable alternative to traditional banking systems in Illinois. Its focus on mutual benefit allows it to prioritize the interests and needs of its community, making a lasting positive impact on the lives of individuals and families in Chicago.
This information is meant to be a general summary of Maroon Financial 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: $351,395
- Program Service Revenue: $2,493,243
- Gross Receipts: $2,844,638
Assets and Liabilities:
- Total Assets: $59,961,130
- Total Liabilities: $54,670,786
- Net Assets: $5,290,344
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Int-loans to members
Revenue
$1,433,484
Fees & service charges
Revenue
$1,059,759
Organization Details
Founding Year
1957
Phone
(773) 702-7179Principal Officer
Scott Muniz
Main Address
5525-C S Ellis Avenue, Chicago, IL, 60637
Website
www.maroonfinancial.orgNTEE Category
Code: W60 - Public benefit
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