Overview
What is Soo Co-Op Credit Union?
Soo Co-Op Credit Union is a member-centric financial institution located in Sault Ste Marie, Michigan. With a commitment to its members, the credit union offers various services such as savings plans, check writing privileges, and loans for various purposes like real estate, vehicles, vacations, emergencies, and businesses. Additionally, they provide investment opportunities through a licensed broker and insurance products through third-party partnerships. Dedicated to becoming their members' primary financial institution, Soo Co-Op Credit Union strives to offer reliable, comprehensive, courteous, and prompt services that cater to their needs, ensuring they remain competitive within the industry. The credit union is staffed by 93 employees.
Official website here: www.soocoop.com
Is Soo Co-Op Credit Union legitimate?
Soo Co-Op Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Soo Co-Op 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: $307,777
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,080,158
For more financial information, click here
Official website here: www.soocoop.com
What is the mission statement of Soo Co-Op Credit Union?
The Soo Co-Op Credit Union aims to establish itself as the primary financial institution for its members. This is achieved by offering reliable, comprehensive, courteous, and prompt services that are competitive with the market and align with the members' needs. The organization provides various services to its members, such as savings plans, share draft privileges, real estate, car, boat, vacation, emergency, and business loans. Additionally, they offer investment services through a fully licensed broker and insurance products through third-party relationships.
Official website here: www.soocoop.com
Who is the CEO of Soo Co-Op Credit Union?
Lynda Ellis is the President/Ce of Soo Co-Op Credit Union.
Official website here: www.soocoop.com
What is the revenue of Soo Co-Op Credit Union?
Soo Co-Op Credit Union's revenue in 2022 was $11,817,651.
Official website here: www.soocoop.com
Who are the executives of Soo Co-Op Credit Union and what are their salaries?
The average compensation at Soo Co-Op Credit Union during 2022 was $36,429. There are 93 employees and 7 volunteers at Soo Co-Op Credit Union.
Here are 10 key members and their salaries:
- Compensation: $113,883
- Related: $0
- Other: $10,484
- Compensation: $75,957
- Related: $0
- Other: $9,215
- Compensation: $73,704
- Related: $0
- Other: $6,487
- Compensation: $17,694
- Related: $0
- Other: $353
- 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.soocoop.com
Where can I find the form 990 for Soo Co-Op Credit Union?
Soo Co-Op Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.soocoop.com
Learn more at the official website: www.soocoop.com
Mission Statement of Soo Co-Op Credit Union
Soo Co-Op Credit Union is committed to becoming the primary financial institution for its members. This mission is achieved by providing reliable, comprehensive, courteous, and prompt services that are competitive with the market and tailored to meet the needs of its members. The organization offers a variety of financial solutions to its members, including savings plans, share draft privileges, and loans for real estate, cars, boats, vacations, emergencies, and businesses. In addition to these services, Soo Co-Op Credit Union also provides investment opportunities through a fully licensed broker and insurance products through third-party relationships. By prioritizing its members' needs and offering a diverse range of financial solutions, Soo Co-Op Credit Union aims to earn and maintain the trust of its members, positioning itself as their primary financial institution.
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Impact
October, 2024
Soo Co-Op Credit Union serves as a vital financial resource for its members in Sault Ste. Marie, Michigan, emphasizing reliability, comprehensive services, and a commitment to meeting the needs of its community. By providing a range of offerings—such as savings plans, share draft privileges, and loans for homes, cars, vacations, and emergencies—the credit union supports both everyday financial activities and significant life events.
Their investment services, delivered through a fully licensed broker, alongside insurance products from trusted third-party partners, further enrich the financial options available to members. By positioning itself as an institution that prioritizes member needs and competitive market offerings, Soo Co-Op Credit Union strengthens the local economy and fosters financial stability among its members. The organization’s dedication to courteous and prompt service ensures a supportive environment for individuals and businesses alike, ultimately enhancing the overall well-being of the community it serves.
This information is meant to be a general summary of Soo Co-Op 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: $1,398,456
- Program Service Revenue: $10,419,195
- Gross Receipts: $11,817,651
Assets and Liabilities:
- Total Assets: $248,562,285
- Total Liabilities: $224,819,781
- Net Assets: $23,742,504
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$6,708,418
FEES AND CHARGES
Revenue
$3,572,071
OTHER PROGRAM SERVICES
Revenue
$138,706
Organization Details
Founding Year
1958
Phone
(906) 632-5300Principal Officer
Lynda Ellis
Main Address
4489 I-75 BUSINESS SPUR, SAULT STE MARIE, MI, 49783
Website
www.soocoop.comNTEE Category
Code: W60 - Public benefit
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