Overview
What is My Credit Union?
My Credit Union is a financial cooperative based in Bloomington, Minnesota, with an address at 9550 Lyndale Avenue South, ZIP code 55420. With a membership of 23,958 individuals, they hold deposits totaling $400,833,777, leading to dividends and interest exceeding $283,735 being paid to their members. My Credit Union offers lending, savings, and additional financial services to eligible members, providing terms better than the marketplace standard. Their mission emphasizes a "service-based approach," acknowledging the members as co-owners. The organization employs a team of 103 dedicated professionals.
Official website here: www.mymncu.org
What do the Facebook reviews say about My Credit Union?
64% of 13 reviewers on Facebook recommend My Credit Union. Here's a summary of their thoughts:
A portion of the feedback highlights positive experiences with the services offered, noting that the staff is consistently friendly and helpful. Many users express satisfaction with their interactions, indicating that they feel well-supported by the team at My Credit Union. However, the overall recommendation rate suggests that there may be concerns or experiences that did not meet expectations for the remaining reviewers.
While not all voices are in agreement, those who do recommend the credit union emphasize a commitment to customer service that leaves them feeling happy and valued.
This AI summary has been generated from reviews found on Facebook.
Is My Credit Union legitimate?
My Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. My 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: $1,517,324
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,471,803
For more financial information, click here
Official website here: www.mymncu.org
What is the mission statement of My Credit Union?
My Credit Union is committed to offering lending, savings, and other financial services to eligible members, providing terms that surpass the marketplace standard. This member-owned institution emphasizes a service-oriented approach, acknowledging the members' stake in the organization. In 2022, the credit union distributed dividends and interest totaling over $283,735 to its 23,958 members, whose deposits amounted to $400,833,777.
Official website here: www.mymncu.org
Who is the CEO of My Credit Union?
Greg Worthen is the Chairman of My Credit Union.
Official website here: www.mymncu.org
What is the revenue of My Credit Union?
My Credit Union's revenue in 2022 was $18,120,740.
Official website here: www.mymncu.org
Who are the executives of My Credit Union and what are their salaries?
The average compensation at My Credit Union during 2022 was $48,438. There are 103 employees and 14 volunteers at My Credit Union.
Here are 16 key members and their salaries:
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- Compensation: $409,577
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- Other: $37,089
- Compensation: $207,087
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- Other: $28,495
- Compensation: $195,095
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- Other: $10,277
- Compensation: $175,264
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- Other: $14,269
- Compensation: $152,813
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- Other: $8,293
- Compensation: $136,227
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- Other: $14,366
- Compensation: $124,402
- Related: $0
- Other: $4,070
Official website here: www.mymncu.org
Where can I find the form 990 for My Credit Union?
My Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mymncu.org
Learn more at the official website: www.mymncu.org
Mission Statement of My Credit Union
My Credit Union, with a mission to provide, focuses on offering lending, savings, and various financial services to eligible members. This nonprofit organization sets itself apart from the marketplace by offering terms that generally surpass industry standards. My Credit Union values its members, recognizing their unique status as owners.
The organization's primary goal is to serve its members with a service-oriented approach. This service-based emphasis sets My Credit Union apart from traditional financial institutions. By offering superior financial products, the union brings tangible benefits to its members, including dividends and interest that exceeded $283,735 on deposit accounts worth $400,833,777, held by 23,958 members. This impressive figure underscores the Union's commitment to delivering value to its membership.
My Credit Union's dedication to its members does not stop at financial services. The organization's emphasis on service goes beyond transactions, creating a sense of ownership and community among its members. Through its service-oriented approach, My Credit Union fosters a strong bond between its members and the institution, ensuring that its members' financial needs are met with care and consideration.
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Impact
October, 2024
My Credit Union plays a vital role in the financial well-being of its members in Bloomington, MN, by offering lending, savings, and other financial services tailored to meet their needs. With a commitment to providing terms that are generally better than those found in the marketplace, My Credit Union emphasizes a service-based approach that recognizes members as owners rather than just account holders.
In the past year, My Credit Union has remarkably paid out dividends and interest exceeding $283,735 on $400,833,777 in deposit accounts held by 23,958 members. This impact reflects the cooperative model of My Credit Union, which prioritizes the financial success of its members, fostering a supportive community that benefits everyone involved. By focusing on member satisfaction and financial gain, My Credit Union continues to create a positive ripple effect in the local economy and the lives of its members.
This information is meant to be a general summary of My 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: $219,715
- Program Service Revenue: $16,935,004
- Gross Receipts: $18,580,462
Assets and Liabilities:
- Total Assets: $399,653,229
- Total Liabilities: $367,127,824
- Net Assets: $32,525,405
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$13,527,671
OTHER INCOME
Revenue
$2,494,387
FEE INCOME
Revenue
$912,946
Organization Details
Founding Year
1957
Phone
(612) 798-7176Principal Officer
Greg Worthen
Main Address
9550 LYNDALE AVENUE SOUTH, BLOOMINGTON, MN, 55420
Website
www.mymncu.orgNTEE Category
Code: W60 - Public benefit
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