Overview
What is Ideal Credit Union?
Ideal Credit Union is a financial institution located at 849 Woodbury, Minnesota, with approximately 52,151 members. They offer a comprehensive range of financial services, including consumer loans, real estate loans, and business loans. The credit union is a cooperative that reinvested all its earnings, which serves as the sole source of capital. Their primary mission is to cater to the financial needs of their membership base. With a team of 232 employees, Ideal Credit Union aims to provide various financial services to its members.
Official website here: www.idealcu.com
Is Ideal Credit Union legitimate?
Ideal Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Ideal 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: $4,725,428
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,788,420
For more financial information, click here
Official website here: www.idealcu.com
What is the mission statement of Ideal Credit Union?
Ideal Credit Union is dedicated to offering financial services to its membership base. Their mission encompasses providing various types of loans, managing deposits, and offering miscellaneous financial services. The credit union caters to approximately 52,151 members, with any surplus earnings being retained for capital. The financial institution's scope includes consumer loans, real estate loans, and business loans.
Official website here: www.idealcu.com
Who is the CEO of Ideal Credit Union?
Brian Sherrick is the Bod - Chairman of Ideal Credit Union. The CEO's salary of Ideal Credit Union is $974,713 and their total compensation is $1,033,314.
Official website here: www.idealcu.com
What is the revenue of Ideal Credit Union?
Ideal Credit Union's revenue in 2022 was $48,171,673.
Official website here: www.idealcu.com
Who are the executives of Ideal Credit Union and what are their salaries?
The average compensation at Ideal Credit Union during 2022 was $66,870. There are 232 employees and 13 volunteers at Ideal Credit Union.
Here are 29 key members and their salaries (Ideal Credit Union's CEO's salary is $974,713 and their total compensation is $1,033,314):
- Compensation: $5,075
- Related: $0
- Other: $0
- Compensation: $4,275
- Related: $0
- Other: $0
- Compensation: $3,525
- Related: $0
- Other: $0
- Compensation: $2,875
- Related: $0
- Other: $0
- Compensation: $2,875
- Related: $0
- Other: $0
- Compensation: $2,641
- Related: $0
- Other: $0
- Compensation: $2,638
- Related: $0
- Other: $0
- Compensation: $2,565
- Related: $0
- Other: $0
- Compensation: $2,088
- Related: $0
- Other: $0
- Compensation: $1,663
- Related: $0
- Other: $0
- Compensation: $1,525
- Related: $0
- Other: $0
- Compensation: $1,388
- Related: $0
- Other: $0
- Compensation: $638
- Related: $0
- Other: $0
- Compensation: $974,713
- Related: $0
- Other: $58,601
- Compensation: $514,676
- Related: $0
- Other: $119,712
- Compensation: $432,516
- Related: $0
- Other: $75,862
- Compensation: $457,878
- Related: $0
- Other: $45,539
- Compensation: $417,333
- Related: $0
- Other: $26,633
- Compensation: $253,159
- Related: $0
- Other: $29,418
- Compensation: $255,596
- Related: $0
- Other: $26,478
- Compensation: $244,773
- Related: $0
- Other: $35,060
- Compensation: $233,727
- Related: $0
- Other: $36,612
- Compensation: $207,079
- Related: $0
- Other: $21,557
- Compensation: $202,401
- Related: $0
- Other: $22,334
- Compensation: $389,568
- Related: $0
- Other: $19,825
- Compensation: $206,985
- Related: $0
- Other: $23,026
- Compensation: $164,502
- Related: $0
- Other: $28,552
- Compensation: $161,546
- Related: $0
- Other: $27,031
- Compensation: $165,520
- Related: $0
- Other: $20,707
Official website here: www.idealcu.com
Where can I find the form 990 for Ideal Credit Union?
Ideal Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.idealcu.com
Learn more at the official website: www.idealcu.com
Mission Statement of Ideal Credit Union
Ideal Credit Union, with a membership of approximately 52,151 individuals, is dedicated to providing financial services to its members. The credit union offers a wide range of financial products and services, including but not limited to consumer loans, real estate loans, and business loans.
At the heart of Ideal Credit Union's mission is the provision of essential financial services to its membership. By doing so, the credit union aims to contribute to the financial wellbeing of its members and help them manage their money effectively. All earnings generated by the credit union are retained and serve as the sole source of capital.
Ideal Credit Union is more than just a financial institution; it is a commitment to its members. By offering a diverse range of financial services, the credit union empowers its members to make informed financial decisions and achieve their financial goals. Whether it's securing a loan for a major purchase or saving for the future, Ideal Credit Union is there to support its members every step of the way.
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Impact
October, 2024
Ideal Credit Union plays a vital role in enhancing the financial well-being of its approximately 52,151 members in Woodbury, MN. By offering a diverse range of financial services, including consumer loans, real estate loans, and business loans, the credit union facilitates access to essential financial resources. This empowers members to make informed decisions regarding their finances, whether it be buying a home, starting a business, or managing everyday expenses.
The credit union's approach ensures that all excess earnings are reinvested into retained earnings, strengthening its capital base and ability to serve members effectively. This model aligns with its mission to provide comprehensive financial services, including deposits and various miscellaneous offerings. Overall, Ideal Credit Union significantly contributes to the economic empowerment and financial stability of its community, promoting public benefit and fostering a strong local economy.
This information is meant to be a general summary of Ideal 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: $3,682,687
- Program Service Revenue: $44,488,986
- Gross Receipts: $230,037,552
Assets and Liabilities:
- Total Assets: $988,489,095
- Total Liabilities: $888,543,898
- Net Assets: $99,945,197
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$32,991,045
OTHER INCOME
Revenue
$6,270,775
FEES & SERVICE CHGS
Revenue
$5,227,166
Organization Details
Founding Year
1926
Phone
(651) 770-7000Principal Officer
Brian Sherrick
Main Address
8499 TAMARACK RD, WOODBURY, MN, 55125
Website
www.idealcu.comNTEE Category
Code: W60 - Public benefit
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