Overview
What is Best Financial Credit Union?
Best Financial Credit Union is a community-focused nonprofit organization based in Muskegon, Michigan. With a mission to promote thrift and savings, the credit union offers reasonably priced financial services, including loans and savings options, to its eligible members. Their primary activity revolves around encouraging thrift, creating a source of credit at fair rates, and promoting savings at a reasonable interest rate. The credit union, employing 86 individuals, aims to serve its members economically, providing them with the financial tools they need to manage their finances effectively.
Official website here: www.bestfcu.org
Is Best Financial Credit Union legitimate?
Best Financial Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Best Financial 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: $572,572
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,290,752
For more financial information, click here
Official website here: www.bestfcu.org
What is the mission statement of Best Financial Credit Union?
Best Financial Credit Union's mission is centered around encouraging savings among its eligible member community. It achieves this by providing access to credit at fair and reasonable rates. Furthermore, the credit union promotes savings by offering financial services at reasonable prices for loans, services, and returns on deposits. The primary objective is to foster thrift within its member community.
Official website here: www.bestfcu.org
Who is the CEO of Best Financial Credit Union?
Morgan Rescorla is the Secretary of Best Financial Credit Union. The CEO's salary of Best Financial Credit Union is $289,629 and their total compensation is $364,552.
Official website here: www.bestfcu.org
What is the revenue of Best Financial Credit Union?
Best Financial Credit Union's revenue in 2022 was $7,151,929.
Official website here: www.bestfcu.org
Who are the executives of Best Financial Credit Union and what are their salaries?
The average compensation at Best Financial Credit Union during 2022 was $21,667. There are 86 employees and 11 volunteers at Best Financial Credit Union.
Here are 14 key members and their salaries (Best Financial Credit Union's CEO's salary is $289,629 and their total compensation is $364,552):
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- Compensation: $289,629
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- Other: $74,923
- Compensation: $108,211
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- Other: $13,565
- Compensation: $74,558
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- Other: $11,686
Official website here: www.bestfcu.org
Where can I find the form 990 for Best Financial Credit Union?
Best Financial Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bestfcu.org
Learn more at the official website: www.bestfcu.org
Mission Statement of Best Financial Credit Union
Best Financial Credit Union, as a financial institution, is committed to fostering a culture of thrift and savings among its members. It achieves this by serving as a reliable source of credit at fair and reasonable rates. Furthermore, the credit union encourages savings by providing competitive interest rates on deposits. By offering financial services that are economically priced for loans, services, and returns on deposits, Best Financial Credit Union aims to promote thrift within its community of eligible members.
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Impact
October, 2024
Best Financial Credit Union significantly contributes to the financial well-being of its members and the surrounding community in Muskegon, MI. By providing access to affordable credit and promoting savings, it empowers individuals to manage their finances more effectively. The credit union offers a range of economically priced financial services, ensuring that members can obtain loans at fair rates and benefit from reasonable returns on their deposits.
Through its mission to foster thrift and savings, Best Financial Credit Union plays a crucial role in encouraging responsible financial practices among its members. This approach not only enhances individual financial stability but also stimulates the local economy by increasing the community's purchasing power. By prioritizing the needs of its members and focusing on accessible financial solutions, Best Financial Credit Union helps create a more financially informed and secure community.
This information is meant to be a general summary of Best Financial 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: $660,919
- Program Service Revenue: $6,357,977
- Gross Receipts: $7,151,929
Assets and Liabilities:
- Total Assets: $137,728,390
- Total Liabilities: $115,734,069
- Net Assets: $21,994,321
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCOME FROM LOANS
Revenue
$3,941,367
FEES/CHARGES/OTHER
Revenue
$2,416,610
Organization Details
Founding Year
1955
Phone
(231) 733-1329Principal Officer
Morgan Rescorla
Main Address
1888 E SHERMAN BLVD, MUSKEGON, MI, 49444
Website
www.bestfcu.orgNTEE Category
Code: W60 - Public benefit
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