Overview
What is 1st Midamerica Credit Union?
1st MidAmerica Credit Union is a financial institution based in Bethalto, Illinois, with the address 731 E Bethalto Dr. The primary goal of this credit union is to provide loans to its members, approving 12,582 loans and extending $325 million in loans to them throughout 2022. The organization's mission is to cater to the financial needs of its members, ensuring long-term financial stability, and making a positive impact on the community. They aim to exceed members' expectations by continually expanding their offerings and maintaining a strong commitment to community involvement. The credit union employs 280 individuals.
Official website here: www.1stmidamerica.org
Is 1st Midamerica Credit Union legitimate?
1st Midamerica Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. 1st Midamerica 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: $3,784,880
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,225,087
For more financial information, click here
Official website here: www.1stmidamerica.org
What is the mission statement of 1st Midamerica Credit Union?
1st MidAmerica Credit Union's mission is to cater to the financial needs of its members and exceed their expectations. By continuously expanding its list of offerings, the credit union aims to become a leading financial institution for its membership base. A significant aspect of its mission involves offering products and services tailored to the diverse financial requirements of its members. In 2022, the credit union approved 12,582 loans, extending a substantial amount of over $325 million to its members, reflecting its dedication to fulfilling their financial needs.
Official website here: www.1stmidamerica.org
Who is the CEO of 1st Midamerica Credit Union?
Alan Meyer is the CEO of 1st Midamerica Credit Union The CEO's salary of 1st Midamerica Credit Union is $1,436,615 and their total compensation is $2,218,153.
Official website here: www.1stmidamerica.org
What is the revenue of 1st Midamerica Credit Union?
1st Midamerica Credit Union's revenue in 2023 was $55,685,904.
Official website here: www.1stmidamerica.org
Who are the executives of 1st Midamerica Credit Union and what are their salaries?
The average compensation at 1st Midamerica Credit Union during 2023 was $40,990. There are 293 employees and 9 volunteers at 1st Midamerica Credit Union.
Here are 19 key members and their salaries (1st Midamerica Credit Union's CEO's salary is $1,436,615 and their total compensation is $2,218,153):
- Compensation: $1,436,615
- Related: $0
- Other: $781,538
- Compensation: $449,556
- Related: $0
- Other: $128,103
- Compensation: $294,351
- Related: $0
- Other: $104,474
- Compensation: $240,574
- Related: $0
- Other: $129,608
- Compensation: $145,275
- Related: $0
- Other: $178,654
- Compensation: $205,830
- Related: $0
- Other: $25,644
- Compensation: $181,793
- Related: $0
- Other: $38,269
- Compensation: $172,712
- Related: $0
- Other: $38,054
- Compensation: $177,801
- Related: $0
- Other: $23,250
- Compensation: $132,847
- Related: $0
- Other: $34,180
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.1stmidamerica.org
Where can I find the form 990 for 1st Midamerica Credit Union?
1st Midamerica Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.1stmidamerica.org
Learn more at the official website: www.1stmidamerica.org
Mission Statement of 1st Midamerica Credit Union
1st MidAmerica Credit Union, a prominent financial institution, is dedicated to fulfilling the financial needs of its members. With a mission to become a leading credit union in its field, it offers a range of products and services that exceed member expectations. The credit union is committed to maintaining financial soundness, while actively engaging in community affairs.
At the heart of 1st MidAmerica Credit Union's operations is the extension of credit to its members. In the year 2022, the institution approved 12,582 loans, extending a substantial $325,148,016 to its community. This financial support not only empowers individuals to meet their financial goals but also reinforces the credit union's role as a trusted and reliable financial partner. The institution's unwavering commitment to its members and their financial wellbeing is reflected in its continuous expansion of services to better meet the diverse needs of its growing membership.
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Impact
October, 2024
1st MidAmerica Credit Union has a significant impact on its community by proactively addressing the financial needs of its members and fostering economic well-being. By approving 12,582 loans and extending over $325 million in credit in 2022, the credit union plays a crucial role in enabling its members to achieve personal and financial goals.
Its commitment to long-term financial soundness ensures stability, which in turn bolsters the local economy. The credit union’s active participation in community affairs not only strengthens its local presence but also enhances its service offerings. This dedication to exceeding member expectations positions 1st MidAmerica as a preeminent service provider, making it an invaluable asset to the residents of Bethalto, Illinois, and beyond. Through its comprehensive range of financial products and services, 1st MidAmerica Credit Union continues to uplift and empower its members, contributing to a stronger, more vibrant community.
This information is meant to be a general summary of 1st Midamerica 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 2023.
- Investment Income: $5,703,616
- Program Service Revenue: $49,943,841
- Gross Receipts: $55,809,182
Assets and Liabilities:
- Total Assets: $933,135,816
- Total Liabilities: $834,299,841
- Net Assets: $98,835,975
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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
$36,492,059
Fee Income
Revenue
$5,204,213
Organization Details
Founding Year
1934
Principal Officer
Alan Meyer
Website
www.1stmidamerica.orgNTEE Category
Code: W60 - Public benefit
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