Overview
What is First Community Credit Union Of Beloit?
First Community Credit Union of Beloit is a not-for-profit financial cooperative based in Beloit, Wisconsin. The organization encourages saving among its members and offers affordable credit opportunities. As of December 31, 2022, they had funded $105,908,213 in loans and managed $43,432,709 in mortgages and home equity loans, along with $192,270,043 in consumer loans. The credit union served 27,500 members with deposit, transaction, and investment accounts and opened 4,784 new accounts during the year. With a team of 135 employees, the mission of First Community Credit Union is to improve members' economic and social conditions, provide excellent financial services, and contribute to the local community.
Official website here: www.firstccu.com
Is First Community Credit Union Of Beloit legitimate?
First Community Credit Union Of Beloit is a legitimate nonprofit organization registered as a 501(c)(14) entity. First Community Credit Union Of Beloit 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: $550,862
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,214,730
For more financial information, click here
Official website here: www.firstccu.com
What is the mission statement of First Community Credit Union Of Beloit?
First Community Credit Union is a not-for-profit financial cooperative dedicated to encouraging thrift among its members and creating a source of credit at fair and reasonable costs. It aims to help each member improve their economic and social conditions, and performs the functions and exercises the powers designated for credit unions under applicable law. The credit union values service to its loyal members, community giving, long-term growth, and financial health. In 2022, it funded over $105 million in loans and had over $235 million in mortgages, home equity loans, and consumer loans. It also managed 1,757 credit card accounts and had over 27,000 members with deposit, transaction, and investment accounts. The credit union opened over 4,700 new accounts during the year.
Official website here: www.firstccu.com
Who is the CEO of First Community Credit Union Of Beloit?
Jack Gill is the Chairman of First Community Credit Union Of Beloit. The CEO's salary of First Community Credit Union Of Beloit is $346,763 and their total compensation is $422,581.
Official website here: www.firstccu.com
What is the revenue of First Community Credit Union Of Beloit?
First Community Credit Union Of Beloit's revenue in 2022 was $12,468,345.
Official website here: www.firstccu.com
Who are the executives of First Community Credit Union Of Beloit and what are their salaries?
The average compensation at First Community Credit Union Of Beloit during 2022 was $27,893. There are 135 employees and 11 volunteers at First Community Credit Union Of Beloit.
Here are 13 key members and their salaries (First Community Credit Union Of Beloit's CEO's salary is $346,763 and their total compensation is $422,581):
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- Compensation: $346,763
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- Other: $75,818
Official website here: www.firstccu.com
Where can I find the form 990 for First Community Credit Union Of Beloit?
First Community Credit Union Of Beloit's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.firstccu.com
Learn more at the official website: www.firstccu.com
Mission Statement of First Community Credit Union Of Beloit
First Community Credit Union of Beloit, a not-for-profit financial cooperative, is dedicated to serving its loyal members by encouraging thrift, creating a reliable source of credit at reasonable costs, and providing opportunities for economic and social improvement. The credit union's mission is grounded in the belief that service, community giving, long-term growth, and financial health are essential components of a successful financial institution.
In practice, First Community Credit Union of Beloit channeled over $105 million in loans during the year 2022. These loans encompassed a significant portion of mortgage and home equity loans, totaling $43.4 million, and an even larger amount of consumer loans, amounting to $192.3 million. The credit union also managed 1,757 credit card accounts for its members, in addition to maintaining deposit, transaction, and investment accounts for a membership base of 27,500 individuals. Throughout the year, the credit union welcomed 4,784 new members and opened 4,784 deposit, transaction, and investment accounts.
Through its commitment to its members and financial health, First Community Credit Union of Beloit has established itself as a trusted and essential financial partner for its community. By focusing on the needs of its members, the credit union has fostered a strong sense of loyalty and community involvement, proving that a cooperative approach to financial services can yield positive results for all involved.
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Impact
October, 2024
First Community Credit Union of Beloit plays a vital role in fostering financial wellness within the community. By providing access to fair and reasonable credit, the credit union encourages thrift and responsible financial behavior among its members. In 2022 alone, it funded over $105 million in loans, which significantly contributes to the local economy.
As of December 31, 2022, the credit union had more than $43 million in mortgages and home equity loans, along with $192 million in consumer loans, making financial resources accessible to individuals and families looking to improve their economic situations. Additionally, it established a solid foundation of financial engagement with its members, boasting 1,757 active credit card accounts and 27,500 combined deposit, transaction, and investment accounts.
The credit union is committed to the economic and social improvement of its members, opening nearly 4,800 new accounts during 2022. Its mission emphasizes long-term growth, financial health, and community service, making it a cornerstone of support for the Beloit community. Through these efforts, First Community Credit Union of Beloit fosters a culture of financial empowerment and stability.
This information is meant to be a general summary of First Community Credit Union Of Beloit. 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: $183,661
- Program Service Revenue: $12,284,684
- Gross Receipts: $12,501,349
Assets and Liabilities:
- Total Assets: $262,733,735
- Total Liabilities: $229,637,653
- Net Assets: $33,096,082
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$8,502,658
FEE INCOME
Revenue
$3,782,026
Organization Details
Founding Year
1933
Phone
(608) 362-9077Principal Officer
Jack Gill
Main Address
1702 PARK AVE, BELOIT, WI, 53511
Website
www.firstccu.comNTEE Category
Code: W60 - Public benefit
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