Overview
What is Oak Lawn Municipal Employees Credit Union?
Oak Lawn Municipal Employees Credit Union is a state-chartered financial institution, specifically designed to aid its members in managing their financial well-being. Situated at 9446 S Raymond Avenue, Oak Lawn, Illinois, this credit union offers consumer loans to its members. As of December 31, 2022, the total number of outstanding loans amounted to 206, with a combined value of $2,180,294. The primary mission of this nonprofit is threefold: encouraging thrift among its members, providing a reasonable source of credit, and offering members the opportunity to manage and utilize their own funds to improve their economic conditions. With a workforce of three dedicated employees, Oak Lawn Municipal Employees Credit Union stands as a commitment to financial support for its members.
Official website here: www.olmecu.virtualcu.net
Is Oak Lawn Municipal Employees Credit Union legitimate?
Oak Lawn Municipal Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Oak Lawn Municipal Employees 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: $56,318
Professional Fundraising Fees: $0
Other Salaries and Wages: $16,866
For more financial information, click here
Official website here: www.olmecu.virtualcu.net
What is the mission statement of Oak Lawn Municipal Employees Credit Union?
The Oak Lawn Municipal Employees Credit Union, as a state-chartered institution, is committed to assisting its members in managing their financial well-being. Its mission is geared towards promoting thrift among its members, establishing a reliable source of credit at reasonable interest rates, and offering an opportunity for members to manage their own funds to enhance their financial conditions. Essentially, the credit union aims to empower its members to take control of their finances for improved economic status.
Official website here: www.olmecu.virtualcu.net
Who is the CEO of Oak Lawn Municipal Employees Credit Union?
Gerald Chickerillo is the Chairman of Oak Lawn Municipal Employees Credit Union.
Official website here: www.olmecu.virtualcu.net
What is the revenue of Oak Lawn Municipal Employees Credit Union?
Oak Lawn Municipal Employees Credit Union's revenue in 2022 was $112,292.
Official website here: www.olmecu.virtualcu.net
Who are the executives of Oak Lawn Municipal Employees Credit Union and what are their salaries?
The average compensation at Oak Lawn Municipal Employees Credit Union during 2022 was $24,395. There are 3 employees and 10 volunteers at Oak Lawn Municipal Employees Credit Union.
Here are 12 key members and their salaries:
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- Compensation: $20,746
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- Compensation: $34,220
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- Other: $1,352
Official website here: www.olmecu.virtualcu.net
Where can I find the form 990 for Oak Lawn Municipal Employees Credit Union?
Oak Lawn Municipal Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.olmecu.virtualcu.net
Learn more at the official website: www.olmecu.virtualcu.net
Mission Statement of Oak Lawn Municipal Employees Credit Union
Oak Lawn Municipal Employees Credit Union, a state-chartered organization, is dedicated to assisting its members in managing their financial well-being. Its mission, in essence, is threefold: to inspire savings among its members, to establish a reliable source of credit at reasonable interest rates, and to provide an opportunity for members to manage and utilize their own funds effectively, thereby enhancing their economic conditions. By doing so, the credit union aims to empower its members and contribute to their financial stability.
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Impact
October, 2024
Oak Lawn Municipal Employees Credit Union significantly impacts its members' financial well-being by providing accessible financial services tailored to their needs. By making and servicing consumer loans, the credit union supports members in achieving their financial goals and improving their economic stability. With a total of 206 loans outstanding amounting to $2,180,294 as of December 31, 2022, the credit union demonstrates its commitment to facilitating access to credit at reasonable rates. This encourages members to save and invest in their futures, fostering a sense of financial security and independence.
Moreover, by promoting thrift and responsible money management, the credit union enhances the overall economic conditions of its members. Its mission to empower individuals through financial resources contributes positively to the greater community in Oak Lawn, Illinois, by creating a supportive environment that prioritizes economic growth and financial literacy.
This information is meant to be a general summary of Oak Lawn Municipal Employees 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: $18,871
- Program Service Revenue: $86,560
- Gross Receipts: $112,292
Assets and Liabilities:
- Total Assets: $5,114,465
- Total Liabilities: $4,543,544
- Net Assets: $570,921
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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
$83,098
Fees & service charges
Revenue
$3,462
Organization Details
Founding Year
1962
Phone
(708) 636-0470Principal Officer
Gerald Chickerillo
Main Address
9446 S Raymond Avenue, Oak Lawn, IL, 60453
Website
www.olmecu.virtualcu.netNTEE Category
Code: W61 - Public benefit
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