Overview
What is Numark Credit Union?
Numark Credit Union is a financial cooperative based in Joliet, Illinois, with a PO Box address at 604342729. Their primary goal is to encourage savings among their members and offer them affordable credit when needed. With a team of 198 employees, they provide various loan options, including those for real estate, credit cards, vehicles, and other purposes. At the end of 2022, they had 71,440 active loans outstanding. The credit union's mission is to enable its members to improve their economic and social conditions by allowing them to save and borrow their own money.
Official website here: www.numarkcu.org
Is Numark Credit Union legitimate?
Numark Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Numark 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: $1,705,218
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,737,263
For more financial information, click here
Official website here: www.numarkcu.org
What is the mission statement of Numark Credit Union?
Numark Credit Union's mission is geared towards encouraging thrift among its members, creating a reliable source of credit with reasonable interest rates, and providing a platform for members to manage and utilize their own money to enhance their economic and social conditions. The credit union offers various types of loans, including real estate, credit card, vehicle, and others, to help members achieve their financial goals. As of December 31, 2022, there were 71,440 outstanding loans.
Official website here: www.numarkcu.org
Who is the CEO of Numark Credit Union?
Lloyd Fredendall is the Director of Numark Credit Union. The CEO's salary of Numark Credit Union is $884,503 and their total compensation is $935,925.
Official website here: www.numarkcu.org
What is the revenue of Numark Credit Union?
Numark Credit Union's revenue in 2022 was $34,998,113.
Official website here: www.numarkcu.org
Who are the executives of Numark Credit Union and what are their salaries?
The average compensation at Numark Credit Union during 2022 was $42,639. There are 198 employees and 10 volunteers at Numark Credit Union.
Here are 15 key members and their salaries (Numark Credit Union's CEO's salary is $884,503 and their total compensation is $935,925):
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- Compensation: $884,503
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- Other: $51,422
- Compensation: $266,138
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- Other: $35,194
- Compensation: $201,387
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- Other: $25,636
- Compensation: $178,528
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- Other: $31,566
- Compensation: $174,662
- Related: $0
- Other: $48,278
Official website here: www.numarkcu.org
Where can I find the form 990 for Numark Credit Union?
Numark Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.numarkcu.org
Learn more at the official website: www.numarkcu.org
Mission Statement of Numark Credit Union
Numark Credit Union, a member-driven financial institution, is committed to encouraging thrift among its members and offering them a reliable source of credit with reasonable interest rates. By doing so, the credit union empowers its members to take control of their money and improve their economic and social conditions. With a robust portfolio of loans, including real estate, credit card, vehicle, and other types, Numark Credit Union caters to the diverse financial needs of its members.
At the heart of Numark Credit Union's mission lies its dedication to promoting thrift and financial responsibility. By providing a platform that encourages saving and offers affordable borrowing opportunities, the credit union sets its members on the path to financial security and stability. The number of loans outstanding at the end of 2022 stood at 71,440, a testament to the credit union's impact on its membership base.
In summary, Numark Credit Union plays a crucial role in the financial lives of its members by offering a range of loan products at reasonable rates, thereby enabling them to save, borrow, and ultimately improve their economic conditions. Through its member-centric approach, the credit union fosters a culture of financial responsibility and empowers individuals to take control of their financial future.
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Impact
October, 2024
Numark Credit Union positively impacts its community by encouraging thrift among members and providing access to affordable credit. By offering various loan products, including real estate, credit cards, and vehicle loans, Numark enables its 71,440 outstanding borrowers to manage their finances effectively and improve their economic well-being. This focus on fostering financial literacy and independence empowers members to take control of their financial futures, enhancing both their social and economic conditions. Located in Joliet, IL, Numark stands as a vital resource that not only meets the financial needs of its members but also contributes to the overall economic stability of the community.
This information is meant to be a general summary of Numark 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: $2,363,398
- Program Service Revenue: $32,634,715
- Gross Receipts: $34,998,113
Assets and Liabilities:
- Total Assets: $632,867,076
- Total Liabilities: $558,107,368
- Net Assets: $74,759,708
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$20,045,946
FEES AND CHARGES
Revenue
$10,112,061
OTHER INCOME
Revenue
$2,253,087
GAIN ON SALE OF MORTGAGES
Revenue
$223,621
Organization Details
Founding Year
1954
Phone
(815) 729-3211Principal Officer
Lloyd Fredendall
Main Address
PO BOX 2729, JOLIET, IL, 604342729
Website
www.numarkcu.orgNTEE Category
Code: W61 - Public benefit
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