Overview
What is Petersburg Federal Reformatory Credit Union Inc?
Petersburg Federal Reformatory Credit Union Inc is a state-chartered credit union situated in Hopewell, Virginia. With a focus on serving its membership, it provides savings accounts and loans as its primary service. The credit union operates with a minimal workforce of two part-time employees, managing office operations and dividends derived from member savings. The organization's mission emphasizes the importance of saving for future needs and offering loans for immediate requirements, ensuring financial support to its members.
Is Petersburg Federal Reformatory Credit Union Inc legitimate?
Petersburg Federal Reformatory Credit Union Inc is a legitimate nonprofit organization registered as a 501(c)(14) entity. Petersburg Federal Reformatory Credit Union Inc 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: $56,398
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Petersburg Federal Reformatory Credit Union Inc?
Petersburg Federal Reformatory Credit Union Inc's mission is centered around serving its members. It encourages members to save for future needs and provides loans for immediate requirements. The credit union operates with a two-person staff, managing office operations and distributing dividends on member savings as sources of revenue, which primarily come from the provision of loans to its members.
Who is the CEO of Petersburg Federal Reformatory Credit Union Inc?
Paul E Dunston is the President of Petersburg Federal Reformatory Credit Union Inc.
What is the revenue of Petersburg Federal Reformatory Credit Union Inc?
Petersburg Federal Reformatory Credit Union Inc's revenue in 2022 was $128,700.
Who are the executives of Petersburg Federal Reformatory Credit Union Inc and what are their salaries?
The average compensation at Petersburg Federal Reformatory Credit Union Inc during 2022 was $28,199. There are 2 employees and 10 volunteers at Petersburg Federal Reformatory Credit Union Inc.
Here are 9 key members and their salaries:
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- Compensation: $38,783
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Where can I find the form 990 for Petersburg Federal Reformatory Credit Union Inc?
Petersburg Federal Reformatory Credit Union Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Petersburg Federal Reformatory Credit Union Inc
Petersburg Federal Reformatory Credit Union Inc, as a state-chartered credit union, is committed to serving its membership by promoting savings for the future and providing loans for immediate needs. In essence, its mission is to foster financial well-being among its members by offering them the opportunity to save and borrow. The credit union's operations include employing a couple of part-time staff members, maintaining an office, and distributing dividends on member savings. Its primary source of income stems from these core services provided to its members through the issuance of loans.
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Impact
October, 2024
Petersburg Federal Reformatory Credit Union Inc directly contributes to the financial well-being of its members by offering essential services such as savings accounts and loans. This enables individuals to save for the future while accessing funds for immediate needs, promoting responsible financial habits within the community.
With two part-time employees managing operations, the credit union ensures a personal touch in servicing its members. The revenue generated from loan activities allows the credit union to cover operational costs and pay dividends on member savings, reinforcing its commitment to supporting its members' financial growth.
By fostering a culture of saving and responsible borrowing, Petersburg Federal Reformatory Credit Union plays a vital role in enhancing the economic stability of its community in Hopewell, VA. Its focus on member service helps create a supportive environment that encourages financial literacy and long-term financial health.
This information is meant to be a general summary of Petersburg Federal Reformatory Credit Union Inc. 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: $16,204
- Program Service Revenue: $112,496
- Gross Receipts: $128,700
Assets and Liabilities:
- Total Assets: $3,753,517
- Total Liabilities: $2,691,482
- Net Assets: $1,062,035
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Interest
Revenue
$106,710
Account Fees
Revenue
$4,286
Credit DisCred Life I
Revenue
$1,500
Organization Details
Founding Year
1951
Phone
(804) 861-2537Principal Officer
Paul E Dunston
Main Address
P O Box 1298, Hopewell, VA, 23860
NTEE Category
Code: W60 - Public benefit
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