Overview
What is Compass Community Credit Union?
Compass Community Credit Union is a nonprofit financial institution, headquartered in Sparta, Michigan. With a membership of 8,192 individuals as of December 31, 2022, the credit union's primary focus is on offering savings products to its members. Their mission is centered around providing financial services and products, ensuring that their members have access to essential financial tools. The credit union's workforce consists of 33 dedicated employees, contributing to its operations.
Official website here: www.compasscu.com
Is Compass Community Credit Union legitimate?
Compass Community Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Compass Community 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: $178,625
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,391,691
For more financial information, click here
Official website here: www.compasscu.com
What is the mission statement of Compass Community Credit Union?
Compass Community Credit Union's primary purpose is to extend financial services and products to its members. This mission is evident in their daily operations, as demonstrated by the provision of savings products to their 8,192 members as of December 31, 2022. The credit union is committed to serving its members' financial needs, providing them with the tools they require to manage their finances effectively. This commitment to service is at the heart of Compass Community Credit Union's operations, making it a reliable financial partner for its members.
Official website here: www.compasscu.com
Who is the CEO of Compass Community Credit Union?
William Scott Montgomery is the Chairman of Compass Community Credit Union. The CEO's salary of Compass Community Credit Union is $159,637 and their total compensation is $168,625.
Official website here: www.compasscu.com
What is the revenue of Compass Community Credit Union?
Compass Community Credit Union's revenue in 2022 was $4,649,637.
Official website here: www.compasscu.com
Who are the executives of Compass Community Credit Union and what are their salaries?
The average compensation at Compass Community Credit Union during 2022 was $47,585. There are 33 employees and 5 volunteers at Compass Community Credit Union.
Here are 6 key members and their salaries (Compass Community Credit Union's CEO's salary is $159,637 and their total compensation is $168,625):
- Compensation: $159,637
- Related: $0
- Other: $8,988
- Compensation: $10,000
- 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.compasscu.com
Where can I find the form 990 for Compass Community Credit Union?
Compass Community Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.compasscu.com
Learn more at the official website: www.compasscu.com
Mission Statement of Compass Community Credit Union
Compass Community Credit Union, as indicated, is committed to providing financial services and products to its members. This mission is at the heart of the credit union's operations, aiming to cater to the financial needs of its 8,192 members as of December 31, 2022. The credit union offers savings products as a key aspect of its mission, providing a range of financial solutions to its members. The focus on financial services and products is a testament to Compass Community Credit Union's dedication to its member base.
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Impact
October, 2024
Compass Community Credit Union significantly impacts its members and the broader community by offering a range of financial services and products tailored to meet individual needs. With over 8,192 members as of December 31, 2022, the credit union plays a crucial role in promoting financial wellness in Sparta, MI.
By providing accessible savings products, Compass Community Credit Union helps members build financial security and supports their long-term goals. Its mission centers around empowering individuals through responsible financial management and fostering a sense of community among members. The emphasis on public benefit underscores its commitment to enhancing the quality of life for those it serves, ultimately contributing to the stability and growth of the local economy.
This information is meant to be a general summary of Compass Community 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: $462,971
- Program Service Revenue: $4,186,666
- Gross Receipts: $4,649,637
Assets and Liabilities:
- Total Assets: $93,588,462
- Total Liabilities: $87,321,905
- Net Assets: $6,266,557
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$635,414
INSURANCE
Revenue
$53,279
LOAN INCOME
Revenue
$2,503,900
OTHER INCOME
Revenue
$906,026
OTHER NON INT INCOME
Revenue
$64,113
Organization Details
Founding Year
1956
Phone
(616) 887-8262Principal Officer
William Scott Montgomery
Main Address
485 S STATE STREET, SPARTA, MI, 49345
Website
www.compasscu.comNTEE Category
Code: W60 - Public benefit
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