Overview
What is Lake Superior Credit Union?
Lake Superior Credit Union is a member-focused financial institution situated in Ontonagon, Michigan. Established in PO Box 38, the credit union offers a variety of deposit accounts such as savings, checking, certificates, and others to its 1,296 members as of December 31, 2022. Its primary mission is to provide financial services and products to its members, striving to support their financial needs effectively. The credit union's workforce consists of five dedicated employees, ensuring a personalized approach to financial service delivery.
Is Lake Superior Credit Union legitimate?
Lake Superior Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Lake Superior 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: $50,961
Professional Fundraising Fees: $0
Other Salaries and Wages: $57,451
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What is the mission statement of Lake Superior Credit Union?
Lake Superior Credit Union's mission, as stated, is centered around providing financial services and products to its members. This mission is encapsulated in the activities and services they offer, which include various deposit account options such as savings, checking, and certificates. The credit union's commitment to its members extends to serving a total of 1,296 members as of December 31, 2022. In essence, the credit union's purpose is to cater to the financial needs of its members, offering a range of relevant and beneficial financial products.
Who is the CEO of Lake Superior Credit Union?
Peggy Elmblad is the Chairperson of Lake Superior Credit Union. The CEO's salary of Lake Superior Credit Union is $50,961 and their total compensation is $50,961.
What is the revenue of Lake Superior Credit Union?
Lake Superior Credit Union's revenue in 2022 was $361,941.
Who are the executives of Lake Superior Credit Union and what are their salaries?
The average compensation at Lake Superior Credit Union during 2022 was $21,682. There are 5 employees and 4 volunteers at Lake Superior Credit Union.
Here are 5 key members and their salaries (Lake Superior Credit Union's CEO's salary is $50,961 and their total compensation is $50,961):
- Compensation: $50,961
- 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
Where can I find the form 990 for Lake Superior Credit Union?
Lake Superior Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lake Superior Credit Union
Lake Superior Credit Union, in its mission, is dedicated to serving its members by providing them with a variety of financial services and products. This nonprofit organization offers a range of deposit accounts, including savings, checking, and certificates, among others. With a membership count of 1,296 as of December 31, 2022, Lake Superior Credit Union is committed to catering to its members' financial needs effectively. The credit union's primary goal is to ensure that its members have access to reliable and comprehensive financial solutions, enabling them to manage their finances effectively.
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Impact
October, 2024
Lake Superior Credit Union significantly impacts its community by providing essential financial services and products to its members. Located in Ontonagon, MI, the Credit Union offers a variety of deposit account options, including savings, checking, and certificates, tailored to meet the diverse needs of its 1,296 members as of December 31, 2022. By focusing on member-centric services, Lake Superior Credit Union helps foster financial stability and growth within the local community, contributing to the overall economic well-being of the region. Its mission revolves around empowering individuals through accessible financial products, thereby enhancing the quality of life for its members.
This information is meant to be a general summary of Lake Superior 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: $60,110
- Program Service Revenue: $301,831
- Gross Receipts: $361,941
Assets and Liabilities:
- Total Assets: $10,216,342
- Total Liabilities: $9,520,306
- Net Assets: $696,036
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fees and Charges
Revenue
$111,252
Insurance Reimbursements
Revenue
$2,340
Interest on Loans
Revenue
$188,111
Other Program Revenue
Revenue
$128
Organization Details
Founding Year
1959
Phone
(906) 884-2069Principal Officer
Peggy Elmblad
Main Address
PO Box 38, Ontonagon, MI, 49953
NTEE Category
Code: W60 - Public benefit
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