Overview
What is Madison Credit Union?
Madison Credit Union is a cooperative nonprofit organization, established under Wisconsin State Law, situated at 949 E Washington Avenue, Madison, WI 53703. Its primary purpose is to foster savings among its members, offer affordable credit, and provide an opportunity for its members to enhance their economic and social well-being. To accomplish this mission, Madison Credit Union provided 89 first mortgages amounting to $9,099,845 and 61,843 new and used auto loans worth $11,648,693. The credit union is supported by a team of 11 dedicated individuals.
Official website here: www.madisoncu.com
What do the Facebook reviews say about Madison Credit Union?
100% of reviewers on Facebook recommend Madison Credit Union. Here’s a summary of their reviews:
The overall sentiment reflects a high level of satisfaction with the services provided. Reviewers consistently praise the friendly and responsive staff, noting their proactive approach to account security, such as personally contacting members about unusual activity.
Additionally, users highlight the ease of handling various banking tasks, including acquiring a new debit card, emphasizing a seamless experience that stands in stark contrast to traditional banking methods. Overall, Madison Credit Union is recognized for delivering excellent customer service and fostering a strong sense of trust with its members.
This AI summary has been generated from reviews found on Facebook.
Is Madison Credit Union legitimate?
Madison Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Madison 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: $87,512
Professional Fundraising Fees: $0
Other Salaries and Wages: $376,420
For more financial information, click here
Official website here: www.madisoncu.com
What is the mission statement of Madison Credit Union?
Madison Credit Union, as a cooperative non-profit corporation, is established with the objective of promoting savings among its members, offering them affordable credit options, and providing an opportunity for financial and social improvement. Its mission, as outlined under Wisconsin State Law, is centered around encouraging thrift, serving as a source of credit at reasonable costs, and empowering members to enhance their economic and societal conditions.
Official website here: www.madisoncu.com
Who is the CEO of Madison Credit Union?
Ilene Fritschler is the Ceo/President of Madison Credit Union. The CEO's salary of Madison Credit Union is $87,512 and their total compensation is $119,973.
Official website here: www.madisoncu.com
What is the revenue of Madison Credit Union?
Madison Credit Union's revenue in 2022 was $1,488,861.
Official website here: www.madisoncu.com
Who are the executives of Madison Credit Union and what are their salaries?
The average compensation at Madison Credit Union during 2022 was $42,176. There are 11 employees and 9 volunteers at Madison Credit Union.
Here are 6 key members and their salaries (Madison Credit Union's CEO's salary is $87,512 and their total compensation is $119,973):
- Compensation: $87,512
- Related: $0
- Other: $32,461
- 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.madisoncu.com
Where can I find the form 990 for Madison Credit Union?
Madison Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madisoncu.com
Learn more at the official website: www.madisoncu.com
Mission Statement of Madison Credit Union
Madison Credit Union, established as a cooperative non-profit corporation under Wisconsin State Law, is dedicated to fostering thrift among its members and serving as a reliable source of credit at reasonable costs. Its primary objective is to offer an opportunity for its members to enhance their economic and social conditions. In essence, Madison Credit Union aims to empower its members by encouraging savings and providing affordable credit, thereby contributing to their overall improvement and well-being.
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Impact
October, 2024
Madison Credit Union plays a significant role in enhancing the economic and social landscape of the Madison community. By providing accessible credit options, it encourages savings and financial stability among its members. In the past year alone, the credit union has facilitated 89 first mortgages, amounting to over $9 million, enabling families to achieve homeownership. Additionally, through 61,843 auto loans totaling nearly $11.7 million, it has made reliable transportation more attainable, supporting mobility and employment opportunities for its members.
The credit union's focus on fair and reasonable lending fosters a nurturing financial environment where members can thrive. By promoting thrift and responsible credit use, Madison Credit Union empowers individuals to improve their economic conditions, ultimately contributing to the overall well-being of the community. Its efforts underline a commitment to creating a positive public benefit, ensuring that financial services are not just accessible but also equitable for everyone in Madison.
This information is meant to be a general summary of Madison 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: $380,956
- Program Service Revenue: $1,107,905
- Gross Receipts: $1,488,861
Assets and Liabilities:
- Total Assets: $60,835,665
- Total Liabilities: $55,747,094
- Net Assets: $5,088,571
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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
$907,714
Share Draft Fee Income
Revenue
$54,151
Debit/ATM Card Fee Income
Revenue
$117,523
Loan/Mortgage Fee Income
Revenue
$11,206
Account Service Fee Income
Revenue
$17,311
Organization Details
Founding Year
1936
Phone
(608) 266-4750Principal Officer
Ilene Fritschler
Main Address
949 E Washington Avenue, Madison, WI, 53703
Website
www.madisoncu.comNTEE Category
Code: W60 - Public benefit
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