Overview
What is Area Educational Credit Union?
Area Educational Credit Union is a financial institution that prioritizes the financial well-being of its members. Established with a mission to assist members in managing their finances, the credit union offers a variety of services, including loans, savings accounts, and other financial institution services. Their approach is characterized by a friendly and professional demeanor, ensuring a positive member experience. As of the provided data, the credit union has extended consumer loans to 753 members and received deposits from 2,360 members, highlighting its active role in financial assistance.
Official website here: www.aecu.coop
Is Area Educational Credit Union legitimate?
Area Educational Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Area Educational 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: $140,212
Professional Fundraising Fees: $0
Other Salaries and Wages: $146,859
For more financial information, click here
Official website here: www.aecu.coop
What is the mission statement of Area Educational Credit Union?
The Area Educational Credit Union is dedicated to assisting its members in managing their financial well-being. This is achieved by offering various financial institution services, including loans and savings accounts, in a friendly and professional manner. The credit union's mission is to contribute positively to its members' financial lives by providing these services. As of the provided data, the credit union has extended consumer loans to 753 members and received deposits from 2,360 members.
Official website here: www.aecu.coop
Who is the CEO of Area Educational Credit Union?
Kerry Fearn is the President of Area Educational Credit Union.
Official website here: www.aecu.coop
What is the revenue of Area Educational Credit Union?
Area Educational Credit Union's revenue in 2022 was $826,149.
Official website here: www.aecu.coop
Who are the executives of Area Educational Credit Union and what are their salaries?
The average compensation at Area Educational Credit Union during 2022 was $47,845. There are 6 employees and 11 volunteers at Area Educational Credit Union.
Here are 11 key members and their salaries:
- Compensation: $111,964
- Related: $0
- Other: $29,148
- 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
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.aecu.coop
Where can I find the form 990 for Area Educational Credit Union?
Area Educational Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aecu.coop
Learn more at the official website: www.aecu.coop
Mission Statement of Area Educational Credit Union
Area Educational Credit Union, in its mission, is committed to aiding its members in the management of their financial well-being. It achieves this by offering a variety of financial services, such as loans, savings accounts, and other financial institution services, all delivered in a friendly and professional manner. The credit union's mission is to be a reliable and approachable financial partner for its members, providing them with the tools they need to maintain financial stability and growth.
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Impact
October, 2024
Area Educational Credit Union significantly impacts its community by actively assisting members in managing their financial well-being. Located in Mattoon, IL, the credit union focuses on providing a range of financial services, including loans and savings accounts, tailored to meet the needs of its members.
With a strong emphasis on friendly and professional service, Area Educational Credit Union has extended consumer loans to 753 members, empowering them to achieve their financial goals. Additionally, it serves as a trusted institution for deposits, with participation from 2,360 members who rely on it for their savings needs. This engagement not only fosters individual financial stability but also contributes to the overall economic health of the community.
Through its commitment to promoting financial literacy and providing accessible banking options, Area Educational Credit Union plays a vital role in enhancing the financial lives of its members, reinforcing the importance of community engagement and support.
This information is meant to be a general summary of Area Educational 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: $190,744
- Program Service Revenue: $445,605
- Gross Receipts: $826,149
Assets and Liabilities:
- Total Assets: $30,694,267
- Total Liabilities: $24,742,270
- Net Assets: $5,951,997
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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
$429,126
GAP INSURANCE
Revenue
$6,742
LATE FEES
Revenue
$4,088
MARKETING COMMISSION
Revenue
$3,396
GROUP INSURANCE
Revenue
$2,253
Organization Details
Founding Year
1960
Phone
(217) 234-7817Principal Officer
Kerry Fearn
Main Address
812 CHARLESTON AVE, MATTOON, IL, 61938
Website
www.aecu.coopNTEE Category
Code: W60 - Public benefit
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