Overview
What is Centricity Credit Union?
Centricity Credit Union is a financial institution situated in Hermantown, Minnesota, serving its members with a wide array of banking services. With over 18,645 members as of December 31, 2022, the credit union boasts a significant deposit amount of $204,352,754. The members' savings, checking, money market, and certificate of deposit accounts totaled $114,803,390, $40,725,233, $30,015,105, and $13,025,070, respectively. The average return on savings accounts was 0.05% at year-end, while money market accounts earned 0.35% and non-IRA certificates 1%. Centricity Credit Union's mission revolves around creating and building strong relationships, exceeding expectations, encouraging and educating members on technology, understanding and serving their financial needs, and providing solutions during challenging times. They are committed to giving back to the communities they serve and offering financial education to enable their members to thrive and build financial security for their families.
Official website here: www.centricity.org
What do the Facebook reviews say about Centricity Credit Union?
88% of 26 reviewers on Facebook recommend Centricity Credit Union. Here's a summary of their insights:
The overall sentiment suggests that while many customers appreciate the services offered, there are concerns about the accessibility of customer support. Some individuals express frustration over the difficulty of reaching a representative by phone, citing long wait times and automated systems as barriers to effective communication. This aspect has led some users to feel that the service could be significantly improved with a more personable approach.
On the positive side, those who recommend the credit union often mention satisfaction with the services once they are able to connect with the staff. Many appreciate the financial products available, although they emphasize the importance of enhancing the customer service experience.
This AI summary has been generated from reviews found on Facebook.
Is Centricity Credit Union legitimate?
Centricity Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Centricity 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: $464,769
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,752,797
For more financial information, click here
Official website here: www.centricity.org
What is the mission statement of Centricity Credit Union?
Centricity Credit Union, as a financial institution, is guided by principles that prioritize building genuine relationships with its members. Its mission is to surpass expectations, educate members on technology usage, and cater to their financial needs. The credit union strives to offer solutions when life presents challenges, demonstrating a strong commitment to its members. Additionally, Centricity Credit Union values the communities it serves and is dedicated to providing financial education, encouraging saving, and fostering economic security for its members and their families. The credit union's operations are centered around delivering exceptional member service.
Official website here: www.centricity.org
Who is the CEO of Centricity Credit Union?
Doug Ralston is the CEO of Centricity Credit Union The CEO's salary of Centricity Credit Union is $221,475 and their total compensation is $257,794.
Official website here: www.centricity.org
What is the revenue of Centricity Credit Union?
Centricity Credit Union's revenue in 2023 was $14,813,272.
Official website here: www.centricity.org
Who are the executives of Centricity Credit Union and what are their salaries?
The average compensation at Centricity Credit Union during 2023 was $43,036. There are 98 employees and 12 volunteers at Centricity Credit Union.
Here are 11 key members and their salaries (Centricity Credit Union's CEO's salary is $221,475 and their total compensation is $257,794):
- Compensation: $221,475
- Related: $0
- Other: $36,319
- Compensation: $187,804
- Related: $0
- Other: $19,171
- Compensation: $127,758
- Related: $0
- Other: $24,246
- 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: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.centricity.org
Where can I find the form 990 for Centricity Credit Union?
Centricity Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.centricity.org
Learn more at the official website: www.centricity.org
Mission Statement of Centricity Credit Union
Centricity Credit Union is committed to fostering strong relationships with its members and surpassing their expectations. Guided by its principles and beliefs, the credit union focuses on building connections, providing exceptional service, and educating members on the use of technology. It goes beyond being a financial institution, showing genuine care for the communities it serves. Centricity Credit Union recognizes the importance of financial literacy and encourages its members to save, aiming to enhance their economic security and that of their families. The organization is dedicated to offering solutions when life presents unexpected challenges, demonstrating its commitment to its members at all levels of operation.
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Impact
October, 2024
Centricity Credit Union plays a vital role in fostering financial well-being within the communities it serves. With a commitment to building genuine relationships and exceeding member expectations, the credit union provides a comprehensive range of banking services tailored to meet the diverse financial needs of its members. By encouraging and educating members on the effective use of technology and financial literacy, Centricity empowers individuals to take control of their financial futures.
As of the end of 2022, Centricity Credit Union managed over $204 million in member deposits, showcasing the trust and reliance members place in their services. The growth of the membership from 17,648 to 18,645 in just one year illustrates the credit union's expanding influence and reputation in Hermantown, Duluth, and Superior, Minnesota.
The credit union is dedicated to promoting economic security through encouraging saving habits, providing financial education, and offering competitive savings rates across various accounts. By emphasizing community care and outstanding member service at all levels, Centricity Credit Union significantly impacts the financial health of its members and contributes to the overall economic stability of the region.
This information is meant to be a general summary of Centricity 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 2023.
- Investment Income: $1,144,208
- Program Service Revenue: $13,689,406
- Gross Receipts: $14,843,862
Assets and Liabilities:
- Total Assets: $236,873,562
- Total Liabilities: $212,641,065
- Net Assets: $24,232,497
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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
$10,571,267
FEE INCOME
Revenue
$3,118,139
Organization Details
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