Overview
What is Central Hanna Employees Credit Union?
Central Hanna Employees Credit Union is a member-focused cooperative based in Keewatin, Minnesota. With a primary mission to promote savings among its members, the credit union offers legitimate interest rates for loans. The organization serves 621 members, providing them with dividends and interest, including a merger dividend of $125 per member. The credit union operates with a small team of three employees, working diligently to fulfill its mission.
Is Central Hanna Employees Credit Union legitimate?
Central Hanna Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Central Hanna 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: $37,541
Professional Fundraising Fees: $0
Other Salaries and Wages: $26,161
For more financial information, click here
What is the mission statement of Central Hanna Employees Credit Union?
Central Hanna Employees Credit Union is established as a cooperative society with the primary objective of encouraging savings among its members. It provides a platform for members to access credit at reasonable interest rates, as outlined in the Minnesota Statute 52.01. The credit union's mission is centered around promoting financial responsibility among its members by offering them a suitable avenue for savings and loans. The institution aims to serve its members by offering legitimate interest rates on loans, as per its charter. The credit union distributes dividends and interest to its 621 members, including a merger dividend of $125 per member.
Who is the CEO of Central Hanna Employees Credit Union?
Jack Thronson is the President of Central Hanna Employees Credit Union.
What is the revenue of Central Hanna Employees Credit Union?
Central Hanna Employees Credit Union's revenue in 2021 was $131,675.
Who are the executives of Central Hanna Employees Credit Union and what are their salaries?
The average compensation at Central Hanna Employees Credit Union during 2021 was $21,234. There are 3 employees and 10 volunteers at Central Hanna Employees Credit Union.
Here are 8 key members and their salaries:
- Compensation: $37,541
- Related: $0
- Other: $0
- Compensation: $0
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- 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
Where can I find the form 990 for Central Hanna Employees Credit Union?
Central Hanna Employees Credit Union's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Central Hanna Employees Credit Union
Central Hanna Employees Credit Union, as a cooperative society, is established with the primary objective of fostering savings among its members and providing them with accessible credit options at reasonable interest rates, as mandated by the MN Statute 52.01. In essence, the credit union's mission is to promote financial responsibility among its members by enabling them to save and borrow money at fair terms. This cooperative approach empowers members to manage their finances effectively and build a stable financial future. The credit union's activities are geared towards creating a mutually beneficial environment where members can contribute to and benefit from a shared pool of resources.
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Impact
October, 2024
Central Hanna Employees Credit Union significantly enhances the financial well-being of its 621 members by promoting thrift and providing access to affordable credit. Located in Keewatin, MN, this cooperative society is dedicated to fostering a supportive financial environment. Through its operations, members benefit from dividend and interest payouts, including a merger dividend of $125.00 per member, underscoring the credit union's commitment to enhancing the economic stability of its members. By offering legitimate rates of interest, Central Hanna Employees Credit Union ensures that individuals have the resources they need to achieve their financial goals while prioritizing the collective needs of the community.
This information is meant to be a general summary of Central Hanna 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 2021.
- Investment Income: $3,749
- Program Service Revenue: $127,926
- Gross Receipts: $131,675
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.
Interest on loans
Revenue
$74,398
Fee income & Misc
Revenue
$53,528
Organization Details
Founding Year
1957
Phone
(651) 215-3540Principal Officer
Jack Thronson
Main Address
PO Box 465, Keewatin, MN, 55753
NTEE Category
Code: W60 - Public benefit
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