Overview
What is Diversified Credit Union?
Diversified Credit Union is a member-focused cooperative located at 700 Linden Ave W, Minneapolis, MN 55403. With a mission to enhance the financial well-being of its members, the credit union offers loans for productive purposes, thereby contributing to improved economic stability. By investing excess funds, Diversified Credit Union is able to pay a fair return on savings to its members. The organization currently employs a team of 10 individuals, all working towards this mission.
Official website here: www.diversifiedcu.org
Is Diversified Credit Union legitimate?
Diversified Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Diversified 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: $60,267
Professional Fundraising Fees: $0
Other Salaries and Wages: $101,201
For more financial information, click here
Official website here: www.diversifiedcu.org
What is the mission statement of Diversified Credit Union?
The mission of Diversified Credit Union, as a cooperative, is centered around enhancing the financial well-being of its membership. It achieves this by providing loans for productive purposes, and by investing excess funds to ensure a fair return on savings for its members. Essentially, the credit union's primary goal is to improve the economic stability of its members.
Official website here: www.diversifiedcu.org
Who is the CEO of Diversified Credit Union?
Scott Pentila is the Director of Diversified Credit Union. The CEO's salary of Diversified Credit Union is $60,267 and their total compensation is $60,267.
Official website here: www.diversifiedcu.org
What is the revenue of Diversified Credit Union?
Diversified Credit Union's revenue in 2021 was $587,402.
Official website here: www.diversifiedcu.org
Who are the executives of Diversified Credit Union and what are their salaries?
The average compensation at Diversified Credit Union during 2021 was $16,147. There are 10 employees and 5 volunteers at Diversified Credit Union.
Here are 6 key members and their salaries (Diversified Credit Union's CEO's salary is $60,267 and their total compensation is $60,267):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $60,267
- Related: $0
- Other: $0
Official website here: www.diversifiedcu.org
Where can I find the form 990 for Diversified Credit Union?
Diversified Credit Union's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.diversifiedcu.org
Learn more at the official website: www.diversifiedcu.org
Mission Statement of Diversified Credit Union
Diversified Credit Union, as a cooperative, is dedicated to enhancing the financial well-being of its membership. Their mission is to provide loans for productive purposes, enabling members to improve their economic stability. By lending to its members, the credit union aims to contribute to their financial growth and improvement, thereby serving a vital role in their financial journey. The excess funds generated from these loans are then invested, allowing the credit union to return a fair profit on savings to its members. In essence, Diversified Credit Union is committed to improving the financial well-being of its members through responsible lending and sound investment practices.
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Impact
October, 2024
Diversified Credit Union significantly impacts its community by focusing on the financial well-being of its members. By providing loans for productive purposes, the credit union enables individuals to invest in their futures, whether that means funding education, starting a business, or making necessary household improvements. This support fosters improved economic stability among its members, contributing to a more robust local economy.
Additionally, by investing excess funds wisely, Diversified Credit Union not only generates resources to support these loans but also ensures that its members receive a fair return on their savings. This cooperative model promotes a sense of community ownership and shared success, enhancing the financial literacy and empowerment of individuals in Minneapolis, MN. Through its mission, Diversified Credit Union plays a vital role in building a stronger, more financially secure community.
This information is meant to be a general summary of Diversified 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 2021.
- Investment Income: $62,934
- Program Service Revenue: $524,468
- Gross Receipts: $587,402
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOANS
Revenue
$504,786
FEES AND CHARGES
Revenue
$19,682
Organization Details
Founding Year
1930
Phone
(612) 321-5300Principal Officer
Scott Pentila
Main Address
700 LINDEN AVE W, MINNEAPOLIS, MN, 55403
Website
www.diversifiedcu.orgNTEE Category
Code: W60 - Public benefit
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