Overview
What is Urbana Munipical Employees Credit Union?
Urbana Municipal Employees Credit Union is a member-owned financial institution situated in Urbana, Illinois, specifically at 1606 North Willow View Road. Established with a mission to promote thrift among its members and offer affordable credit, the credit union serves as a financial resource for its 810 members who hold share accounts and 420 who have loan accounts. The organization provides consumer lending services and operates beyond the basic banking functions, providing credit at a reasonable interest rate. With a small team of two employees, Urbana Municipal Employees Credit Union remains committed to catering to the financial needs of its member community.
Official website here: www.umecu-urbana.com
Is Urbana Munipical Employees Credit Union legitimate?
Urbana Munipical Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Urbana Munipical 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: $45,328
Professional Fundraising Fees: $0
Other Salaries and Wages: $31,470
For more financial information, click here
Official website here: www.umecu-urbana.com
What is the mission statement of Urbana Munipical Employees Credit Union?
The Urbana Municipal Employees Credit Union's mission is to establish a member-owned financial institution, serving as a catalyst for financial responsibility among its members. It aims to provide a reliable source of credit at reasonable interest rates. The credit union's primary activities include offering consumer lending services and managing deposits from its membership base, serving over 810 member share accounts and 420 loan accounts.
Official website here: www.umecu-urbana.com
Who is the CEO of Urbana Munipical Employees Credit Union?
Cathy Graver is the Chairperson of Urbana Munipical Employees Credit Union.
Official website here: www.umecu-urbana.com
What is the revenue of Urbana Munipical Employees Credit Union?
Urbana Munipical Employees Credit Union's revenue in 2022 was $234,365.
Official website here: www.umecu-urbana.com
Who are the executives of Urbana Munipical Employees Credit Union and what are their salaries?
The average compensation at Urbana Munipical Employees Credit Union during 2022 was $38,399. There are 2 employees and 6 volunteers at Urbana Munipical Employees Credit Union.
Here are 7 key members and their salaries:
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- Compensation: $45,328
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- Other: $0
Official website here: www.umecu-urbana.com
Where can I find the form 990 for Urbana Munipical Employees Credit Union?
Urbana Munipical Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.umecu-urbana.com
Learn more at the official website: www.umecu-urbana.com
Mission Statement of Urbana Munipical Employees Credit Union
Urbana Municipal Employees Credit Union, as a member-owned financial institution, is committed to encouraging savings among its members and serving as a reliable source of credit at reasonable interest rates. The credit union's mission is to provide this service, fostering financial stability for its members. By offering consumer lending and accepting deposits, Urbana Municipal Employees Credit Union plays a vital role in managing its members' finances, ensuring they have access to necessary funds at affordable rates. With over 810 member share type accounts and 420 loan accounts, the credit union demonstrates its dedication to serving its members' financial needs effectively.
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Impact
October, 2024
Urbana Municipal Employees Credit Union significantly impacts its members and the local community by providing accessible financial services that promote thrift and responsible credit use. With over 810 share type accounts and 420 loan accounts, it fosters financial stability for its members. By offering reasonable interest rates on loans, the credit union helps individuals achieve their financial goals, whether it's purchasing a vehicle, funding education, or managing unexpected expenses.
The dedication to member ownership ensures that profits are reinvested into the community, enhancing the overall economic health of Urbana, IL. This model creates a supportive network where members feel empowered to save and find credit without the burdensome fees often associated with traditional banks. The credit union's services not only promote financial literacy but also contribute to strengthening community ties, thereby having a lasting positive effect on the local population’s financial well-being.
This information is meant to be a general summary of Urbana Munipical 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: $8,542
- Program Service Revenue: $222,695
- Gross Receipts: $234,365
Assets and Liabilities:
- Total Assets: $4,126,820
- Total Liabilities: $3,600,924
- Net Assets: $525,896
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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
$206,831
LOAN FEES AND FINES
Revenue
$15,864
Organization Details
Founding Year
1950
Phone
(217) 337-0240Principal Officer
Cathy Graver
Main Address
1606 NORTH WILLOW VIEW RD, URBANA, IL, 61802
Website
www.umecu-urbana.comNTEE Category
Code: W60 - Public benefit
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