Overview
What is Mower County Employees Credit Union?
Mower County Employees Credit Union is a local financial institution situated in Austin, Minnesota. As a nonprofit organization, its primary focus is to promote thrift among its members and enhance their financial well-being. It achieves this by offering deposit and loan services, ensuring affordable and reasonable interest rates. The credit union's activities for the year resulted in providing 1,691 loans amounting to $5,107,235.29, contributing to a total loan asset value of $11,380,877.55. The organization is committed to its mission and currently employs a team of seven individuals.
Official website here: www.mowercountyecu.org
Is Mower County Employees Credit Union legitimate?
Mower County Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Mower County 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: $58,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $69,016
For more financial information, click here
Official website here: www.mowercountyecu.org
What is the mission statement of Mower County Employees Credit Union?
Mower County Employees Credit Union's mission is centered around promoting financial responsibility among its members. It achieves this by offering various financial services, such as loans and savings accounts, at reasonable interest rates. The primary goal is to improve the financial conditions of its members, fostering a sense of self-reliance. The credit union also serves as a source of credit, providing loans to members when needed. By doing so, it aims to contribute positively to the wider community. As of record, the credit union provided over 1,600 loans totaling over $5 million in a year, contributing to a substantial loan asset portfolio.
Official website here: www.mowercountyecu.org
Who is the CEO of Mower County Employees Credit Union?
Unavailable The CEO's salary of Mower County Employees Credit Union is $58,000 and their total compensation is $58,000.
Official website here: www.mowercountyecu.org
What is the revenue of Mower County Employees Credit Union?
Mower County Employees Credit Union's revenue in 2022 was $574,840.
Official website here: www.mowercountyecu.org
Who are the executives of Mower County Employees Credit Union and what are their salaries?
The average compensation at Mower County Employees Credit Union during 2022 was $18,145. There are 7 employees and 11 volunteers at Mower County Employees Credit Union.
Here are 6 key members and their salaries (Mower County Employees Credit Union's CEO's salary is $58,000 and their total compensation is $58,000):
- Compensation: $0
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- 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: $58,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mowercountyecu.org
Where can I find the form 990 for Mower County Employees Credit Union?
Mower County Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mowercountyecu.org
Learn more at the official website: www.mowercountyecu.org
Mission Statement of Mower County Employees Credit Union
Mower County Employees Credit Union, a financial institution dedicated to its members, is committed to fostering thrift among its members and enhancing social conditions. Its mission, in essence, is to offer deposit and loan services that encourage financial responsibility and self-reliance among its membership. By doing so, the credit union aims to create a reliable source of credit, providing loans at reasonable interest rates. This approach, in turn, helps to improve the overall social conditions of its members.
In practice, Mower County Employees Credit Union provides various financial services, including low-rate loans, share savings, and certificates of deposit. The credit union's activities are geared towards encouraging its members to save and manage their finances responsibly. By offering these services, the credit union plays a significant role in improving its members' financial well-being and contributing positively to their social conditions. The credit union's lending activities, as demonstrated by providing 1,691 loans totaling $5,107,235.29 in a year, further underscores its commitment to providing fair and reasonable credit options to its members.
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Impact
October, 2024
Mower County Employees Credit Union significantly impacts its community by promoting financial well-being and self-reliance among its members. By offering low-rate loans and various savings products, the credit union not only supports individual financial goals but also contributes to the overall economic health of the region.
In a recent year, the credit union extended 1,691 loans totaling over $5 million, highlighting its commitment to providing accessible credit options. This results in a year-end loan asset total of approximately $11.4 million, reinforcing the credit union's role as a vital financial resource in Austin, MN. Through its services, Mower County Employees Credit Union fosters thrift and encourages responsible financial management, ultimately leading to improved social conditions within the community.
This information is meant to be a general summary of Mower County 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 2022.
- Investment Income: $31,563
- Program Service Revenue: $525,702
- Gross Receipts: $574,840
Assets and Liabilities:
- Total Assets: $12,541,214
- Total Liabilities: $12,541,214
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan interest fees
Revenue
$512,331
Account service fee
Revenue
$13,371
Organization Details
Founding Year
1961
Phone
(507) 437-6360Main Address
900 18th Ave NW, Austin, MN, 55912
Website
www.mowercountyecu.orgNTEE Category
Code: W60 - Public benefit
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