Overview
What is Credit Union Trust?
Credit Union Trust is a nonprofit organization that focuses on providing health and welfare benefits to eligible members of the Credit Union Consortium in Indiana and Kentucky. Established as a Multiple Employer Welfare Arrangement (MEWA) under ERISA, its mission is to enable participating employers to offer welfare benefit coverages to their employees and their dependents. Based in Indianapolis, Indiana (ZIP code 46250), the trust's activities primarily revolve around the self-funded health plan for credit unions, expanding its reach to Kentucky credit unions. The trust's purpose is to enhance the well-being of its members by making welfare benefits accessible.
What are the reviews and ratings of this charity?
Credit Union Trust is not currently rated by Charity Navigator, primarily because it is not registered as a 501(c)(3) nonprofit. This classification limits its eligibility for certain evaluations, such as Accountability & Finance and Impact & Measurement beacons. The absence of a rating should not be interpreted as a negative mark, merely a reflection of its nonprofit classification under IRS rules.
Historically, Charity Navigator's ratings did not factor in aspects like Leadership & Adaptability or Culture & Community. Credit Union Trust’s lack of historical scores suggests it may not have pursued evaluative distinction in areas typically assessed by 501(c)(3) benchmarks like finance accountability or impact measurement.
Although Credit Union Trust appears on the IRS Business Master File, there is no available data on its total revenue, expenses, or key salaries, which further complicates a comprehensive financial review. Its status as an independent entity and lack of user reviews on GreatNonprofits limits insight into its community reputation and organizational impact.
This AI summary has been generated from information found on Charity Navigator.
Is Credit Union Trust legitimate?
Credit Union Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Credit Union Trust 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:
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For more financial information, click here
What is the mission statement of Credit Union Trust?
The Credit Union Trust functions as a Multiple Employer Welfare Arrangement (MEWA) under ERISA section 3(40). Its primary objective is to enable eligible employers within the credit union consortium to offer health and welfare benefits to their employees and their eligible dependents. The Trust is exclusively dedicated to providing health and welfare-related benefits to eligible participants of the consortium health plan. Its mission is to facilitate the provision of these benefits, ensuring that eligible employees have access to essential coverage.
Who is the CEO of Credit Union Trust?
Lori Eltzroth is the President of Credit Union Trust.
What is the revenue of Credit Union Trust?
Credit Union Trust's revenue in 2022 was $49,190,963.
Who are the executives of Credit Union Trust and what are their salaries?
There 9 volunteers at Credit Union Trust.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Credit Union Trust?
Credit Union Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Credit Union Trust
Credit Union Trust, a self-funded Multiple Employer Welfare Arrangement (MEWA), is dedicated to enabling eligible employers in the credit union sector to offer health and welfare benefit coverages to their employees and their dependents. The Trust, as defined in Section 3(40) of the Employee Retirement Income Security Act (ERISA), serves the sole purpose of providing health and welfare-related benefits to eligible participants of the Credit Union Consortium Health Plan.
The mission of Credit Union Trust is to facilitate access to essential benefits for the workforce of credit unions. By pooling resources from various employers, the Trust is able to collectively negotiate favorable benefit plans and cost savings. This arrangement not only benefits the employers by reducing the financial burden of providing benefits but also ensures that their employees and their families have access to comprehensive coverage. The Trust's activities are centered around the provision and administration of these welfare benefits, ensuring that eligible participants have access to the coverage they need.
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Impact
October, 2024
Credit Union Trust significantly impacts the health and welfare landscape for eligible employees and their dependents associated with Indiana and Kentucky credit unions. By operating as a self-funded multiple employer welfare arrangement (MEWA), it enables these credit unions to collectively provide health and welfare benefits that might otherwise be challenging to secure individually.
The Trust's primary mission is to facilitate access to essential welfare benefit coverages for eligible employers, ensuring that their employees and dependents receive necessary support. This collaborative approach not only enhances the quality of benefits available but also promotes a sense of mutual benefit among participating credit unions.
As it expands its services from Indiana to Kentucky, Credit Union Trust continues to create a robust framework for health and welfare benefits, allowing smaller credit unions to pool resources and strengthen their offerings. This initiative ultimately fosters a healthier workforce, boosts employee satisfaction, and contributes to the overall stability of the credit union sector.
This information is meant to be a general summary of Credit Union Trust. 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: $323,342
- Program Service Revenue: $48,609,187
- Gross Receipts: $49,190,963
Assets and Liabilities:
- Total Assets: $30,658,690
- Total Liabilities: $5,143,301
- Net Assets: $25,515,389
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$48,394,550
COBRA CONTRIBUTIONS
Revenue
$214,637
Organization Details
Founding Year
2013
Phone
(317) 594-5300Principal Officer
Lori Eltzroth
Main Address
5975 CASTLE CREEK PKWY NORTH 200, INDIANAPOLIS, IN, 46250
NTEE Category
Code: Y43 - Mutual benefit
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