Overview
What is Wea Credit Union?
Wea Credit Union is a nonprofit organization, initially established and sponsored by WEAC, with a mission to provide members of WEAC with a confidential and cost-effective borrowing service, as well as an investment opportunity. Located in Madison, Wisconsin, the credit union offers various deposit accounts and had 1,800 new account openings in 2022. By the end of the year, the membership base had grown to 2,741 individuals. The credit union's services aim to offer members lower interest rates compared to small loan companies and local lending agencies while providing a safe investment opportunity. As of the provided data, the credit union is operated by a team of nine employees.
Official website here: www.weacu.com
Is Wea Credit Union legitimate?
Wea Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Wea 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: $136,016
Professional Fundraising Fees: $0
Other Salaries and Wages: $118,768
For more financial information, click here
Official website here: www.weacu.com
What is the mission statement of Wea Credit Union?
Wea Credit Union was established and backed by WEAC with two primary objectives. Firstly, it aims to offer a confidential loan service to its members, enabling them to borrow money at significantly lower interest rates than what is typically available from small loan companies or local lending agencies. Secondly, the credit union provides an investment opportunity for its members who wish to invest their money in a secure and beneficial business program.
Official website here: www.weacu.com
Who is the CEO of Wea Credit Union?
Cassandra Thom is the Ceo of Wea Credit Union. The CEO's salary of Wea Credit Union is $88,161 and their total compensation is $126,554.
Official website here: www.weacu.com
What is the revenue of Wea Credit Union?
Wea Credit Union's revenue in 2022 was $1,122,821.
Official website here: www.weacu.com
Who are the executives of Wea Credit Union and what are their salaries?
The average compensation at Wea Credit Union during 2022 was $28,309. There are 9 employees and 9 volunteers at Wea Credit Union.
Here are 12 key members and their salaries (Wea Credit Union's CEO's salary is $88,161 and their total compensation is $126,554):
- Compensation: $88,161
- Related: $0
- Other: $38,393
- Compensation: $32,457
- Related: $0
- Other: $15,526
- Compensation: $15,398
- Related: $0
- Other: $4,739
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.weacu.com
Where can I find the form 990 for Wea Credit Union?
Wea Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.weacu.com
Learn more at the official website: www.weacu.com
Mission Statement of Wea Credit Union
Wea Credit Union was established and sponsored by WEAC with a twofold mission. Primarily, it aimed to offer a confidential service to its members, enabling them to secure loans at significantly lower interest rates than what is typically available from small loan companies or local lending agencies. This service proved to be a valuable resource for WEAC members, allowing them to access funds at more favorable terms.
Secondly, Wea Credit Union presented an opportunity for its members who desired to invest their money in a secure and beneficial venture. By joining the credit union, individuals could channel their savings into a safe and helpful business program, thereby contributing to the organization's growth and success while also benefiting from the returns on their investments. Thus, Wea Credit Union was established to provide affordable loan options and investment opportunities for its members, thereby serving as a reliable financial partner for the WEAC community.
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Impact
October, 2024
Wea Credit Union plays a significant role in the financial well-being of its members and the broader community in Madison, Wisconsin. By offering a confidential service, the credit union enables members of the Wisconsin Education Association Council (WEAC) to access loans at substantially lower interest rates compared to traditional small loan companies and local lending agencies. This accessibility to affordable borrowing empowers members to meet their financial needs without facing the burdensome costs associated with high-interest loans.
In addition to lending services, Wea Credit Union encourages financial growth and security among its members through various deposit accounts. The establishment of 180 new deposit accounts in 2022 is a testament to its commitment to fostering a culture of savings and investment within the community. With a membership base of 2,741 as of the end of 2022, Wea Credit Union not only supports individual financial goals but also contributes to the overall economic health of its community.
By prioritizing members' financial needs and promoting safe investment opportunities, Wea Credit Union enhances the quality of life for educators and their families, ultimately driving positive change within the community.
This information is meant to be a general summary of Wea 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: $230,439
- Program Service Revenue: $889,796
- Gross Receipts: $1,130,221
Assets and Liabilities:
- Total Assets: $37,823,482
- Total Liabilities: $33,979,650
- Net Assets: $3,843,832
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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
$748,378
OTHER MEMBER RELATED INCOME
Revenue
$100,141
MEMBER FEE INCOME
Revenue
$40,891
FEE & INSURANCE INCOME
Revenue
$386
Organization Details
Founding Year
1931
Phone
(608) 274-9828Principal Officer
Cassandra Thom
Main Address
PO BOX 8003, MADISON, WI, 537088003
Website
www.weacu.comNTEE Category
Code: W60 - Public benefit
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