Overview
What is Planites Credit Union?
Planites Credit Union is a member-oriented, not-for-profit financial institution situated in Chicago, Illinois. Established with the aim of promoting thrift and offering affordable loans, the credit union operates on a cooperative basis for the mutual benefit of its members. It serves as a secure and convenient venue for its members to save and borrow funds at reasonable interest rates. The primary objective of Planites Credit Union is to prioritize its members' interests, rather than seeking profit.
Official website here: www.planites.org
Is Planites Credit Union legitimate?
Planites Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Planites 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:
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For more financial information, click here
Official website here: www.planites.org
What is the mission statement of Planites Credit Union?
Planites Credit Union serves as a cooperative, not-for-profit financial institution, established with the primary objective of fostering savings and offering a secure and convenient platform for members to borrow at reasonable interest rates. Its mission is rooted in the principle of benefiting its members rather than making a profit. The credit union aims to promote thrift and provide affordable loan options to its members, functioning on a cooperative basis for the mutual benefit of its membership.
Official website here: www.planites.org
What is the revenue of Planites Credit Union?
Planites Credit Union's revenue in 2024 was $2,053,005.
Official website here: www.planites.org
Who are the executives of Planites Credit Union and what are their salaries?
There 13 volunteers at Planites Credit Union.
Here are 14 key members and their salaries:
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Official website here: www.planites.org
Where can I find the form 990 for Planites Credit Union?
Planites Credit Union's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.planites.org
Learn more at the official website: www.planites.org
Mission Statement of Planites Credit Union
Planites Credit Union is a cooperative, not-for-profit financial institution that is established with the primary objective of promoting thrift and providing a safe and convenient place for its members to save and borrow funds at reasonable interest rates. The credit union operates on a mutual basis, existing to benefit its members rather than for profit-making purposes. Its mission is to encourage savings among its members and offer them affordable loan options, thereby contributing to their financial well-being. Planites Credit Union aims to achieve this goal through its cooperative structure, ensuring that its operations serve the mutual benefit of its membership community.
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Impact
October, 2024
Planites Credit Union plays a significant role in the financial well-being of its members by providing a safe and convenient environment for saving and borrowing. By promoting thrift and offering low-cost loans, the credit union fosters financial literacy and stability among its members. This cooperative institution operates on the principle of mutual benefit, ensuring that the interests of its members are prioritized over profit motives.
Located in Chicago, Illinois, Planites Credit Union serves its community by offering reasonable interest rates and accessible financial services. This approach not only helps individuals and families manage their finances more effectively, but it also strengthens community ties by encouraging saving and responsible borrowing habits. The credit union contributes to the local economy by empowering its members to achieve their financial goals, ultimately promoting a more stable and prosperous community.
This information is meant to be a general summary of Planites 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 2024.
- Investment Income: $640,137
- Program Service Revenue: $1,412,868
- Gross Receipts: $2,053,005
Assets and Liabilities:
- Total Assets: $36,545,836
- Total Liabilities: $32,508,876
- Net Assets: $4,036,960
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$1,074,991
FEE INCOME
Revenue
$258,982
COMMISSION/INTERCHANGE
Revenue
$78,895
Organization Details
Founding Year
1955
Principal Officer
Danny Valkanos
Website
www.planites.orgNTEE Category
Code: W60 - Public benefit
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