Overview
What is Gale Credit Union?
Gale Credit Union is a nonprofit financial institution located in Galesburg, Illinois, specifically at 631 N Henderson Street. Its primary mission is to promote savings among its members and offer high-quality, competitive services and benefits. With over 6,115 member share accounts and 1,745 loan accounts, including Visa cards, Gale Credit Union caters to its membership by providing both deposit and lending services. The credit union is dedicated to ensuring its financial stability in the long term, thereby safeguarding the financial well-being of its members. With a workforce of 14 employees, Gale Credit Union serves its community by offering financial solutions and promoting financial literacy.
Is Gale Credit Union legitimate?
Gale Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Gale 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: $122,682
Professional Fundraising Fees: $0
Other Salaries and Wages: $339,779
For more financial information, click here
What is the mission statement of Gale Credit Union?
Gale Credit Union's mission is centered around promoting thrift and providing high-quality, competitive services and benefits to its members. The credit union strives to ensure its long-term financial stability while catering to its members' needs. By offering consumer lending and receiving deposits, Gale Credit Union serves over 6,115 member share accounts and over 1,745 loan accounts, including Visa cards. The credit union's primary objective is to maintain a strong financial position while meeting the financial needs of its members.
Who is the CEO of Gale Credit Union?
Randy Mcelwee is the Secretary of Gale Credit Union. The CEO's salary of Gale Credit Union is $106,773 and their total compensation is $122,682.
What is the revenue of Gale Credit Union?
Gale Credit Union's revenue in 2022 was $1,613,031.
Who are the executives of Gale Credit Union and what are their salaries?
The average compensation at Gale Credit Union during 2022 was $33,033. There are 14 employees and 8 volunteers at Gale Credit Union.
Here are 8 key members and their salaries (Gale Credit Union's CEO's salary is $106,773 and their total compensation is $122,682):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $106,773
- Related: $0
- Other: $15,909
Where can I find the form 990 for Gale Credit Union?
Gale Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Gale Credit Union
Gale Credit Union, as a financial institution, is committed to fostering thrift and offering top-notch, competitive services and benefits to its members. Its mission is geared towards ensuring the credit union's long-term financial stability while catering to the financial needs of its members. By promoting thrift, the credit union encourages its members to save and make financially sound decisions. Simultaneously, it strives to provide a wide range of high-quality services and benefits, ensuring that its members can access the financial support they require. This mission is executed through various consumer lending services and deposit options, catering to more than 6,115 member share type accounts and over 1,745 loan type accounts, including Visa cards.
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Impact
October, 2024
Gale Credit Union plays a vital role in the Galesburg community by promoting financial wellness and stability among its members. With a focus on thrift, it encourages responsible savings while providing a suite of high-quality and competitive services tailored to meet the needs of over 6,115 member share accounts and more than 1,745 loan accounts, including Visa cards.
By facilitating access to consumer lending and encouraging member deposits, Gale Credit Union helps nurture a financially savvy community. Its commitment to providing benefits and services not only enhances individual financial health but also contributes to the overall economic well-being of the Galesburg area. The credit union's prudent management ensures long-term financial stability, allowing it to serve its members effectively and sustainably. Through its actions, Gale Credit Union exemplifies a commitment to fostering a financially empowered community.
This information is meant to be a general summary of Gale 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: $264,441
- Program Service Revenue: $1,245,882
- Gross Receipts: $1,613,031
Assets and Liabilities:
- Total Assets: $39,198,216
- Total Liabilities: $34,326,362
- Net Assets: $4,871,854
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$882,815
FEES AND CHARGES
Revenue
$363,067
Organization Details
Founding Year
1947
Phone
(309) 343-1777Principal Officer
Randy Mcelwee
Main Address
631 N HENDERSON STREET, GALESBURG, IL, 61401
NTEE Category
Code: W60 - Public benefit
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