Overview
What is Lafcu?
Lafcu is a credit union based in Lansing, Michigan, with an address at 106 N Marketplace Boulevard. As a cooperative financial institution, it offers loans and savings products and services to its members. Lafcu's mission is to adapt to the evolving financial needs of its members and help them achieve personal financial security, aligning with the credit union philosophy. With a workforce of 193 employees, the organization focuses on primary member services, branch operations, and contact center support.
Official website here: www.lafcu.com
Is Lafcu legitimate?
Lafcu is a legitimate nonprofit organization registered as a 501(c)(14) entity. Lafcu 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: $1,341,422
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,523,432
For more financial information, click here
Official website here: www.lafcu.com
What is the mission statement of Lafcu?
Lafcu is a cooperative financial institution committed to providing loans, savings products, and services to its members. While upholding the credit union philosophy, Lafcu aims to adapt to the evolving financial needs of its members, contributing to their personal financial security. The organization prioritizes primary member services, with a significant portion of its staff dedicated to branch operations and contact center support.
Official website here: www.lafcu.com
Who is the CEO of Lafcu?
Patrick Spyke is the CEO of Lafcu The CEO's salary of Lafcu is $473,374 and their total compensation is $566,300.
Official website here: www.lafcu.com
What is the revenue of Lafcu?
Lafcu's revenue in 2023 was $64,543,625.
Official website here: www.lafcu.com
Who are the executives of Lafcu and what are their salaries?
The average compensation at Lafcu during 2023 was $60,116. There are 214 employees and 17 volunteers at Lafcu.
Here are 17 key members and their salaries (Lafcu's CEO's salary is $473,374 and their total compensation is $566,300):
- 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
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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: $473,374
- Related: $0
- Other: $92,926
- Compensation: $164,654
- Related: $0
- Other: $30,526
- Compensation: $255,966
- Related: $0
- Other: $56,602
- Compensation: $211,273
- Related: $0
- Other: $56,101
- Compensation: $182,888
- Related: $0
- Other: $33,613
- Compensation: $177,075
- Related: $0
- Other: $51,598
- Compensation: $170,101
- Related: $0
- Other: $44,441
- Compensation: $153,408
- Related: $0
- Other: $23,390
- Compensation: $140,148
- Related: $0
- Other: $21,179
Official website here: www.lafcu.com
Where can I find the form 990 for Lafcu?
Lafcu's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lafcu.com
Learn more at the official website: www.lafcu.com
Mission Statement of Lafcu
Lafcu, a cooperative financial institution and credit union, is dedicated to providing financial services that cater to the evolving needs of its members. Committed to upholding the credit union philosophy, Lafcu strives to help its members attain personal financial security.
Through its primary focus on member services, Lafcu boasts a team of skilled staff members and maintains a 50% branch operation model. Additionally, the organization operates a contact center, ensuring that members receive efficient and effective assistance with their financial matters.
Savings products form an integral part of Lafcu's offerings. By offering these services, the credit union enables its members to save and build a financial foundation for their future. With a commitment to adapt to the changing financial landscapes of its members, Lafcu continues to prioritize their needs and ensure their financial well-being.
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Impact
October, 2024
Lafcu significantly enhances the financial landscape for its members by offering a range of loans and savings products tailored to individual needs. Operating as a cooperative financial institution, it provides a personalized approach to financial services, ensuring that each member's unique circumstances are addressed.
With a dedicated team that focuses on member service in addition to branch operations and contact center support, Lafcu fosters a welcoming environment where members can seek assistance and guidance in their financial journeys. This commitment to member satisfaction is instrumental in promoting financial literacy and security among its clientele.
Lafcu's mission to adapt to the ever-changing financial needs of its members underscores its role as a reliable partner in achieving personal financial stability. By embodying the credit union philosophy, it not only prioritizes member interests but also contributes to the overall well-being of the community in Lansing, Michigan. Through its services, Lafcu is actively working to provide equitable access to essential financial resources, promoting public benefit and economic empowerment for all members.
This information is meant to be a general summary of Lafcu. 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: $4,719,582
- Program Service Revenue: $58,196,329
- Gross Receipts: $64,543,625
Assets and Liabilities:
- Total Assets: $986,262,376
- Total Liabilities: $883,830,199
- Net Assets: $102,432,177
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INCOME
Revenue
$43,194,768
FEES, CHARGES, OTHER
Revenue
$15,001,561
Organization Details
Founding Year
1936
Principal Officer
Patrick Spyke
Website
www.lafcu.comNTEE Category
Code: W60 - Public benefit
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