Overview
What is Membersalliance Credit Union?
Membersalliance Credit Union is a not-for-profit financial organization situated in Rockford, Illinois, specifically at 2550 S Alpine. Its primary mission is to offer competitive interest rates on consumer, real estate, and home equity loans to its members. As of December 31, 2022, the credit union boasts a membership of 19,763 individuals and manages a total of 12,011 loans amounting to $170 million. Embracing its role as a community leader, Membersalliance Credit Union is dedicated to providing top-notch financial services and education to its members. With a workforce of 96 dedicated employees, the credit union strives to meet its members' financial needs.
Official website here: www.membersalliance.org
Is Membersalliance Credit Union legitimate?
Membersalliance Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Membersalliance 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: $692,076
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,460,361
For more financial information, click here
Official website here: www.membersalliance.org
What is the mission statement of Membersalliance Credit Union?
Membersalliance Credit Union's mission is centered around leading its community in offering competitive financial products and exceptional service. The credit union is committed to providing financial education as well, positioning itself as a prominent figure in this regard. As of December 31, 2022, the credit union catered to 19,763 members and provided a total of 12,011 loans amounting to $170 million. This data underscores its dedication to offering financial products, including consumer, real estate, and home equity loans, at attractive interest rates.
Official website here: www.membersalliance.org
Who is the CEO of Membersalliance Credit Union?
Cheryl A Sio is the President of Membersalliance Credit Union.
Official website here: www.membersalliance.org
What is the revenue of Membersalliance Credit Union?
Membersalliance Credit Union's revenue in 2022 was $11,651,256.
Official website here: www.membersalliance.org
Who are the executives of Membersalliance Credit Union and what are their salaries?
The average compensation at Membersalliance Credit Union during 2022 was $43,255. There are 96 employees and 7 volunteers at Membersalliance Credit Union.
Here are 12 key members and their salaries:
- Compensation: $204,127
- Related: $0
- Other: $27,753
- Compensation: $132,649
- Related: $0
- Other: $42,865
- Compensation: $141,197
- Related: $0
- Other: $25,656
- Compensation: $133,062
- Related: $0
- Other: $32,689
- Compensation: $81,041
- Related: $0
- Other: $13,654
- 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.membersalliance.org
Where can I find the form 990 for Membersalliance Credit Union?
Membersalliance Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.membersalliance.org
Learn more at the official website: www.membersalliance.org
Mission Statement of Membersalliance Credit Union
Membersalliance Credit Union, as a leading entity in its community, is committed to providing its members with a wide array of financial products and services. Their mission is geared towards offering these products at competitive interest rates, all while delivering exceptional customer service. The institution's ultimate goal is to contribute to financial education, thereby enabling its members to make informed financial decisions. The credit union serves over 19,763 members, with a total of 12,011 loans amounting to $170 million as of December 31, 2022. This figure underscores Membersalliance Credit Union's commitment to supporting its members' financial needs, demonstrating its role as a reliable financial partner.
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Impact
October, 2024
Membersalliance Credit Union plays a significant role in enhancing financial well-being and stability within the Rockford, IL community. By offering a range of financial products and services, including consumer, real estate, and home equity loans at competitive interest rates, they cater to the diverse needs of their 19,763 members. As of December 31, 2022, they facilitated 12,011 loans totaling an impressive $170 million, underscoring their commitment to supporting local residents in achieving their financial goals.
Their mission to lead in providing financial products, exceptional service, and financial education positions them as a vital resource in the community. By prioritizing member education and engagement, they empower individuals to make informed financial decisions, which contributes to the overall economic health of the region. Membersalliance Credit Union's focus on public benefit solidifies its impact as a trusted partner in the financial journey of its members.
This information is meant to be a general summary of Membersalliance 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: $1,093,219
- Program Service Revenue: $10,558,037
- Gross Receipts: $11,651,256
Assets and Liabilities:
- Total Assets: $272,214,856
- Total Liabilities: $253,733,113
- Net Assets: $18,481,743
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest from Loans
Revenue
$5,391,353
Credit and debit card income
Revenue
$2,059,680
Credit Card Interest Income
Revenue
$775,864
Group Insurance
Revenue
$36,214
Fee Income
Revenue
$1,432,475
Organization Details
Founding Year
1938
Phone
(815) 226-2260Principal Officer
Cheryl A Sio
Main Address
2550 S Alpine, Rockford, IL, 61108
Website
www.membersalliance.orgNTEE Category
Code: W60 - Public benefit
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