Overview
What is Ace Credit Union?
Ace Credit Union, situated in Mason City, Iowa, serves as a financial institution for its members. With a modest workforce of two individuals, the organization's primary focus is on offering savings and loan services. Their financial offerings range from small, signature loans to more substantial home equity loans, catering to the needs of 830 members in 2022. The organization's largest expense is the dividend paid on share accounts, emphasizing the value they place on member satisfaction. Although not explicitly stated, it can be inferred that Ace Credit Union is a nonprofit organization that prioritizes providing financial services to its members.
Is Ace Credit Union legitimate?
Ace Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Ace 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: $50,181
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Ace Credit Union?
Ace Credit Union's mission is centered around providing financial services to its members. Specifically, it focuses on share savings and loans. In essence, the organization's objective is to offer these financial services to its members, ensuring they have access to necessary savings and borrowing options. One of the significant expenses for the credit union is the dividend expense paid on share accounts. Ace Credit Union caters to its members' financial needs by offering a range of loans, including small signature loans and home equity loans. In the year 2022, the credit union served a total of 830 members, demonstrating its commitment to its members' financial well-being.
Who is the CEO of Ace Credit Union?
Ellen Kay is the Cfo of Ace Credit Union.
What is the revenue of Ace Credit Union?
Ace Credit Union's revenue in 2022 was $158,555.
Who are the executives of Ace Credit Union and what are their salaries?
The average compensation at Ace Credit Union during 2022 was $25,090. There are 2 employees at Ace Credit Union.
Here are 12 key members and their salaries:
- Compensation: $49,311
- Related: $0
- Other: $10,276
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $870
- 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
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Ace Credit Union?
Ace Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ace Credit Union
Ace Credit Union, as a financial institution, is committed to serving its members by offering share savings and loan services. In essence, its mission is centered around providing financial assistance to its members, catering to their savings and borrowing needs. The organization's activities are geared towards offering a wide range of loans, ranging from small signature loans to more substantial home equity loans. In 2022, this mission was extended to 830 members, demonstrating Ace Credit Union's dedication to its member base.
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Impact
October, 2024
Ace Credit Union plays a significant role in the financial landscape of Mason City, IA, by providing essential financial services to its members. By offering share savings and a range of loan options—ranging from small signature loans to home equity loans—the credit union supports its members' financial needs and goals.
In 2022, Ace Credit Union served 830 members, demonstrating its commitment to fostering financial well-being within the community. The organization’s primary expense, dividend payments on share accounts, reinforces its mission to prioritize member interests and returns, ensuring that members benefit directly from their savings.
By facilitating access to affordable loans and encouraging savings, Ace Credit Union contributes to financial stability and empowerment among its members, enhancing their ability to achieve personal and financial milestones. This commitment to serving the community aligns with its mission to provide valuable financial services that promote public benefit and support local economic growth.
This information is meant to be a general summary of Ace 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: $45,495
- Program Service Revenue: $66,155
- Gross Receipts: $158,555
Assets and Liabilities:
- Total Assets: $8,012,611
- Total Liabilities: $6,745,604
- Net Assets: $1,267,007
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTERST INCOME
Revenue
$66,155
Organization Details
Founding Year
1934
Phone
(641) 424-6330Principal Officer
Ellen Kay
Main Address
1028 14TH STREET SE, MASON CITY, IA, 50401
NTEE Category
Code: W60 - Public benefit
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