Overview
What is Michigan Legacy Credit Union?
Michigan Legacy Credit Union is a member-owned cooperative credit union, headquartered in Wyandotte, Michigan. Established with a mission to foster relationships based on honesty, integrity, and trust, the credit union provides a wide array of financial services and products to its members. These services include various loan options such as member business, indirect, participation, real estate, vehicle, recreational vehicle, lines of credit, home equity, and credit card loans. Additionally, Michigan Legacy Credit Union offers banking services like checking accounts, IRAs, certificates of deposit, bill pay, and remote deposit capture. For added convenience, they provide ATMs, debit cards, check cashing, wire transfers, and various other financial tools. To support its members further, the credit union offers financial counseling through strategic partnerships. As of the provided information, the credit union has 109 employees and has extended 12,718 active loans to its member-owners.
Official website here: www.michiganlegacycu.org
Is Michigan Legacy Credit Union legitimate?
Michigan Legacy Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Michigan Legacy 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: $476,383
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,264,427
For more financial information, click here
Official website here: www.michiganlegacycu.org
What is the mission statement of Michigan Legacy Credit Union?
Michigan Legacy Credit Union is dedicated to establishing and sustaining relationships with its member-owners, utilizing honesty, integrity, and trust. The financial institution aims to become the preferred choice for all financial needs. As a member-owned cooperative credit union, it offers various loan and deposit products and services, including home equity, vehicle loans, credit cards, and business loans. Additionally, Michigan Legacy Credit Union provides financial services such as ATMs, debit cards, and check cashing, among others, to enhance its members' financial well-being. The organization fosters strong partnerships to offer financial counseling and remote deposit capture, further emphasizing its commitment to its members.
Official website here: www.michiganlegacycu.org
Who is the CEO of Michigan Legacy Credit Union?
Carma Peters is the CEO of Michigan Legacy Credit Union The CEO's salary of Michigan Legacy Credit Union is $244,861 and their total compensation is $259,738.
Official website here: www.michiganlegacycu.org
What is the revenue of Michigan Legacy Credit Union?
Michigan Legacy Credit Union's revenue in 2023 was $11,452,400.
Official website here: www.michiganlegacycu.org
Who are the executives of Michigan Legacy Credit Union and what are their salaries?
The average compensation at Michigan Legacy Credit Union during 2023 was $40,224. There are 93 employees and 9 volunteers at Michigan Legacy Credit Union.
Here are 11 key members and their salaries (Michigan Legacy Credit Union's CEO's salary is $244,861 and their total compensation is $259,738):
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- Other: $0
- Compensation: $203,479
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- Other: $13,166
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- Other: $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: $244,861
- Related: $0
- Other: $14,877
Official website here: www.michiganlegacycu.org
Where can I find the form 990 for Michigan Legacy Credit Union?
Michigan Legacy Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.michiganlegacycu.org
Learn more at the official website: www.michiganlegacycu.org
Mission Statement of Michigan Legacy Credit Union
Michigan Legacy Credit Union, as a member-owned cooperative financial institution, is dedicated to establishing and sustaining relationships with its members based on honesty, integrity, and trust. The organization's mission is to become the primary choice for all financial needs of its members, offering a comprehensive array of loan and deposit products and services. By leveraging these core values, Michigan Legacy Credit Union aims to build and maintain strong connections with its member-owners, ensuring their financial well-being. The credit union offers various financial services, including auto loans, business loans, real estate financing, vehicle loans, recreational vehicle loans, lines of credit, home equity loans, and credit card services. Additionally, Michigan Legacy Credit Union provides its members with various convenient banking tools such as ATMs, debit cards, check cashing, wire transfers, checking accounts, IRAs, certificates of deposit, bill pay, money orders, cashier's checks, courtesy pay, remote deposit capture, an app, and financial counseling through strategic partnerships.
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Impact
October, 2024
Michigan Legacy Credit Union significantly impacts its community by providing a range of essential financial services tailored to the needs of its member-owners. With 12,718 active loans, the credit union supports various financial goals, from home purchases and vehicle financing to business expansion. It offers a diverse selection of products, including checking accounts, savings options, and credit facilities, ensuring accessible financial solutions for all members.
The credit union also emphasizes convenience and user-friendly services, featuring ATMs, debit cards, and a mobile app for remote banking. Financial education and counseling are integral to its mission, helping members make informed decisions about their finances. By focusing on building relationships based on honesty, integrity, and trust, Michigan Legacy Credit Union positions itself as a vital resource for its members, empowering them to achieve their financial objectives while contributing to the overall economic health of the Wyandotte community and beyond.
This information is meant to be a general summary of Michigan Legacy 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: $623,005
- Program Service Revenue: $10,829,395
- Gross Receipts: $11,452,400
Assets and Liabilities:
- Total Assets: $249,545,728
- Total Liabilities: $226,820,050
- Net Assets: $22,725,678
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS TO MEMBERS
Revenue
$7,236,969
FEES TO MEMBERS
Revenue
$3,567,592
ATM SURCHARGES TO NONMEMBERS
Revenue
$24,834
Organization Details
Founding Year
1946
Principal Officer
Carma Peters
Website
www.michiganlegacycu.orgNTEE Category
Code: W60 - Public benefit
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