Overview
What is Deer River Cooperative Credit Union?
Deer River Cooperative Credit Union is a nonprofit financial institution located in Deer River, Minnesota. It serves its community members by addressing their financial needs, offering various dividend-based savings options such as shares, checking accounts, IRAs, and certificates of deposit. The credit union's mission is to support its members financially, ensuring they have access to essential financial services within the community. With a team of seven dedicated employees, Deer River Cooperative Credit Union aims to contribute positively to the financial wellbeing of its members.
Official website here: www.drccu@paulbunyan.net
Is Deer River Cooperative Credit Union legitimate?
Deer River Cooperative Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Deer River Cooperative 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: $107,262
Professional Fundraising Fees: $0
Other Salaries and Wages: $179,541
For more financial information, click here
Official website here: www.drccu@paulbunyan.net
What is the mission statement of Deer River Cooperative Credit Union?
The Deer River Cooperative Credit Union is committed to serving the financial needs of its community members. This mission is reflected in its daily activities, which are centered around providing financial solutions to its members. The credit union distributes dividends to its members, with amounts varying for different financial products such as dividend shares, checking accounts, IRAs, and certificates of deposit. The credit union's mission is not just about distributing dividends, but also about serving its members financially, demonstrating its dedication to the well-being of its community.
Official website here: www.drccu@paulbunyan.net
What is the revenue of Deer River Cooperative Credit Union?
Deer River Cooperative Credit Union's revenue in 2024 was $1,384,899.
Official website here: www.drccu@paulbunyan.net
Who are the executives of Deer River Cooperative Credit Union and what are their salaries?
The average compensation at Deer River Cooperative Credit Union during 2024 was $40,972. There are 7 employees and 5 volunteers at Deer River Cooperative Credit Union.
Here are 9 key members and their salaries:
- Compensation: $98,077
- Related: $0
- Other: $0
- Compensation: $1,458
- Related: $0
- Other: $0
- Compensation: $1,238
- Related: $0
- Other: $0
- Compensation: $1,238
- Related: $0
- Other: $0
- Compensation: $1,183
- Related: $0
- Other: $0
- Compensation: $1,183
- Related: $0
- Other: $0
- Compensation: $1,128
- Related: $0
- Other: $0
- Compensation: $990
- Related: $0
- Other: $0
- Compensation: $770
- Related: $0
- Other: $0
Official website here: www.drccu@paulbunyan.net
Where can I find the form 990 for Deer River Cooperative Credit Union?
Deer River Cooperative Credit Union's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.drccu@paulbunyan.net
Learn more at the official website: www.drccu@paulbunyan.net
Mission Statement of Deer River Cooperative Credit Union
Deer River Cooperative Credit Union is dedicated to serving the financial needs of its community members. This nonprofit organization's mission is centered around providing essential financial services to its members, ensuring they have the necessary resources to navigate their financial journeys. The credit union demonstrates its commitment by distributing dividends to its members in various forms, including Dividends Shares, Dividends Checking, Dividends IRA's, and Dividends Certificates of Deposits. These dividends serve as a testament to the credit union's success and its ability to generate financial returns for its members. By offering these dividends, Deer River Cooperative Credit Union reinforces its role as a reliable financial partner for its community members.
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Impact
October, 2024
Deer River Cooperative Credit Union plays a significant role in the financial well-being of its community, providing essential services tailored to meet the needs of local members. With a commitment to facilitating financial growth, the credit union offers various dividend options, including $88,202 in dividends on shares, $6,563 on checking accounts, $2,604 on IRAs, $1,289 on certificates of deposit, and $49 on IRA certificates of deposit. This emphasis on helping community members manage their financial resources contributes to overall economic stability and encourages individuals to save and invest wisely. By focusing on the specific financial needs of its community members, Deer River Cooperative Credit Union fosters a culture of financial empowerment and accessibility in Deer River, Minnesota.
This information is meant to be a general summary of Deer River Cooperative 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 2024.
- Investment Income: $149,322
- Program Service Revenue: $1,235,577
- Gross Receipts: $1,384,899
Assets and Liabilities:
- Total Assets: $25,924,020
- Total Liabilities: $23,812,538
- Net Assets: $2,111,482
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$1,148,152
SHARE DRAFT FEES
Revenue
$83,431
MISC OPERATING REV
Revenue
$3,994
Organization Details
Founding Year
1938
Principal Officer
Mary Goggleye
Website
www.drccu@paulbunyan.netNTEE Category
Code: W60 - Public benefit
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