Overview
What is Hibbing Cooperative Credit Union?
Hibbing Cooperative Credit Union is a state-chartered cooperative association based in Hibbing, Minnesota. Their primary mission is to promote savings among their members and provide them with a reliable source of credit. In 2022, they issued 1,257 loans totaling $13,544,718, serving various purposes such as purchasing vehicles, recreational items, household items, and fulfilling other reasonable needs. Additionally, they offer home equity loans and Visa credit cards. The credit union has a team of 16 dedicated employees, demonstrating their commitment to serving the financial needs of their members.
Official website here: www.hccu.net
Is Hibbing Cooperative Credit Union legitimate?
Hibbing Cooperative Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Hibbing Cooperative 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: $114,641
Professional Fundraising Fees: $0
Other Salaries and Wages: $362,214
For more financial information, click here
Official website here: www.hccu.net
What is the mission statement of Hibbing Cooperative Credit Union?
The Hibbing Cooperative Credit Union is established as a state-chartered cooperative association, serving the purpose of fostering thrift among its members and creating a credit source for their financial needs. Its primary mission is to promote savings among its members and provide them with accessible credit solutions. In 2022, the union generated 1,257 loans amounting to $13,544,718, funding various reasons such as vehicle purchases, recreational items, and household essentials. Additionally, the credit union offers home equity loans and Visa credit cards.
Official website here: www.hccu.net
Who is the CEO of Hibbing Cooperative Credit Union?
Waylon Vitters is the Secretary of Hibbing Cooperative Credit Union.
Official website here: www.hccu.net
What is the revenue of Hibbing Cooperative Credit Union?
Hibbing Cooperative Credit Union's revenue in 2022 was $2,786,287.
Official website here: www.hccu.net
Who are the executives of Hibbing Cooperative Credit Union and what are their salaries?
The average compensation at Hibbing Cooperative Credit Union during 2022 was $29,803. There are 16 employees and 8 volunteers at Hibbing Cooperative Credit Union.
Here are 6 key members and their salaries:
- Compensation: $770
- Related: $0
- Other: $0
- Compensation: $840
- Related: $0
- Other: $0
- Compensation: $840
- Related: $0
- Other: $0
- Compensation: $1,280
- Related: $0
- Other: $0
- Compensation: $770
- Related: $0
- Other: $0
- Compensation: $98,768
- Related: $0
- Other: $11,373
Official website here: www.hccu.net
Where can I find the form 990 for Hibbing Cooperative Credit Union?
Hibbing Cooperative Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hccu.net
Learn more at the official website: www.hccu.net
Mission Statement of Hibbing Cooperative Credit Union
Hibbing Cooperative Credit Union, as a state-chartered cooperative association, is established with a mission to foster thrift among its members and serve as a reliable source of credit. This mission is geared towards promoting financial well-being and financial independence within its membership base. The credit union achieves this by offering loan services, generating a substantial number of loans annually. In 2022, they provided 1,257 loans totaling $13,544,718. These loans are utilized for various purposes, such as purchasing new and used vehicles, recreational items, and household necessities. Additionally, Hibbing Cooperative Credit Union offers home equity loans and Visa credit cards, thus catering to a wide range of financial needs. The credit union's mission is to empower its members by providing them with accessible and reasonable credit options.
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Impact
October, 2024
Hibbing Cooperative Credit Union plays a significant role in the local community by promoting thrift and providing accessible credit solutions to its members. In 2022, the credit union issued 1,257 loans totaling $13,544,718, allowing residents to purchase necessities such as vehicles, recreational items, and household goods. Its offerings also include home equity loans and Visa credit cards, making it a versatile financial resource for individuals seeking to meet various needs. By facilitating financial opportunities, the credit union contributes to the economic well-being of its members and supports the overall growth of the Hibbing community.
This information is meant to be a general summary of Hibbing Cooperative 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: $1,118,573
- Program Service Revenue: $1,667,714
- Gross Receipts: $2,786,287
Assets and Liabilities:
- Total Assets: $110,217,749
- Total Liabilities: $98,350,275
- Net Assets: $11,867,474
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,001,791
SERVICE CHARGES
Revenue
$462,259
OTHER INCOME
Revenue
$183,664
LOAN LOSS RECOVERY
Revenue
$20,000
Organization Details
Founding Year
1938
Phone
(218) 263-8815Principal Officer
Waylon Vitters
Main Address
217 WEST 42ND STREET PO BOX 908, HIBBING, MN, 557460908
Website
www.hccu.netNTEE Category
Code: W60 - Public benefit
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