Overview
What is Federated Employees Credit Union?
Federated Employees Credit Union is a nonprofit financial institution located at 1929 S CEDAR AVE, OWATONNA, MN, 55060. Their primary mission is to offer competitive and progressive financial services, catering to the needs of their members. This includes dividends and interest paid on share and certificate accounts, as evidenced by the $241,130 returned to members in the most recent period. Furthermore, they are committed to financial education and maintaining financial stability. With a workforce of 11 individuals, Federated Employees Credit Union works diligently to meet the financial needs of its members.
Official website here: www.fedecu.com
Is Federated Employees Credit Union legitimate?
Federated Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Federated Employees 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: $122,862
Professional Fundraising Fees: $0
Other Salaries and Wages: $302,772
For more financial information, click here
Official website here: www.fedecu.com
What is the mission statement of Federated Employees Credit Union?
Federated Employees Credit Union is committed to delivering competitive and innovative financial services that cater to the requirements of its members. This mission includes providing financial education and ensuring financial stability. The credit union returns profits to its members in the form of dividends and interest, as demonstrated by the distribution of over $241,130. By offering such services, the credit union aims to meet the financial needs of its members effectively.
Official website here: www.fedecu.com
Who is the CEO of Federated Employees Credit Union?
John Hylle is the Chairperson of Federated Employees Credit Union.
Official website here: www.fedecu.com
What is the revenue of Federated Employees Credit Union?
Federated Employees Credit Union's revenue in 2022 was $1,718,744.
Official website here: www.fedecu.com
Who are the executives of Federated Employees Credit Union and what are their salaries?
The average compensation at Federated Employees Credit Union during 2022 was $38,694. There are 11 employees and 13 volunteers at Federated Employees Credit Union.
Here are 8 key members and their salaries:
- Compensation: $9,976
- 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: $86,267
- Related: $0
- Other: $26,619
Official website here: www.fedecu.com
Where can I find the form 990 for Federated Employees Credit Union?
Federated Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fedecu.com
Learn more at the official website: www.fedecu.com
Mission Statement of Federated Employees Credit Union
Federated Employees Credit Union is dedicated to providing its members with competitive and progressive financial services that cater to their unique needs. This mission is twofold: firstly, the credit union ensures it offers financial products that meet the varying requirements of its members. Secondly, it prioritizes financial education, aiming to equip its members with the necessary knowledge to make informed financial decisions. Furthermore, Federated Employees Credit Union is committed to maintaining financial stability, ensuring it can continue to serve its members effectively in the long term. The credit union achieves this by returning funds to its members in the form of dividends and interest, as demonstrated by the $241,130 distributed to its members.
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Impact
October, 2024
Federated Employees Credit Union has a significant impact on its community and members by offering competitive and progressive financial services tailored to their needs. With a focus on maintaining financial stability, the credit union emphasizes the importance of financial education, empowering members to make informed decisions about their finances.
A key aspect of its operational model is the return of funds to members, which in the past year amounted to $241,130 in dividends and interest on share and certificate accounts. This not only enhances the financial well-being of its members but also reinforces the credit union's commitment to their interests, creating a positive cycle of growth and support within the community.
Located in Owatonna, Minnesota, Federated Employees Credit Union actively contributes to the local economy by ensuring that its services are accessible and beneficial, ultimately promoting financial literacy and stability among its members. This holistic approach not only aims to meet immediate financial needs but also encourages long-term financial health and resilience in the community.
This information is meant to be a general summary of Federated Employees 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: $278,310
- Program Service Revenue: $1,414,274
- Gross Receipts: $3,465,211
Assets and Liabilities:
- Total Assets: $57,345,907
- Total Liabilities: $49,699,331
- Net Assets: $7,646,576
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$1,072,035
OTHER INCOME & FEES
Revenue
$342,239
Organization Details
Founding Year
1934
Phone
(507) 455-5430Principal Officer
John Hylle
Main Address
1929 S CEDAR AVE, OWATONNA, MN, 55060
Website
www.fedecu.comNTEE Category
Code: W60 - Public benefit
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