Overview
What is Hampton Roads Educators' Credit Union Inc?
Hampton Roads Educators' Credit Union Inc is a credit union, a unique financial institution, exempt from federal taxation. It is structured to serve its members by providing them with various financial services. The primary mission of this credit union is to cater to the financial needs of its member-base, offering services that are typically tailored to their specific requirements. As a credit union, it operates under the exemption granted by federal law, which sets it apart from traditional banks and other financial institutions.
Official website here: www.hrecu.org
Is Hampton Roads Educators' Credit Union Inc legitimate?
Hampton Roads Educators' Credit Union Inc is a legitimate nonprofit organization registered as a 501(c)(14) entity. Hampton Roads Educators' 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: $101,603
Professional Fundraising Fees: $0
Other Salaries and Wages: $500,363
For more financial information, click here
Official website here: www.hrecu.org
What is the mission statement of Hampton Roads Educators' Credit Union Inc?
Hampton Roads Educators' Credit Union Inc, as a credit union, is organized with a primary objective to offer financial services to its members. This financial institution enjoys a tax exemption status under federal law. The mission of Hampton Roads Educators' Credit Union Inc is centered around serving its member-base, providing them with essential financial services. The organization operates with the aim of fulfilling its members' financial needs in a manner that is exempt from federal taxes.
Official website here: www.hrecu.org
Who is the CEO of Hampton Roads Educators' Credit Union Inc?
Cornelious Chambliss is the Board Chairm of Hampton Roads Educators' Credit Union Inc. The CEO's salary of Hampton Roads Educators' Credit Union Inc is $93,559 and their total compensation is $93,559.
Official website here: www.hrecu.org
What is the revenue of Hampton Roads Educators' Credit Union Inc?
Hampton Roads Educators' Credit Union Inc's revenue in 2022 was $1,823,029.
Official website here: www.hrecu.org
Who are the executives of Hampton Roads Educators' Credit Union Inc and what are their salaries?
The average compensation at Hampton Roads Educators' Credit Union Inc during 2022 was $37,623. There are 16 employees and 24 volunteers at Hampton Roads Educators' Credit Union Inc.
Here are 10 key members and their salaries (Hampton Roads Educators' Credit Union Inc's CEO's salary is $93,559 and their total compensation is $93,559):
- Compensation: $93,559
- 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
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.hrecu.org
Where can I find the form 990 for Hampton Roads Educators' Credit Union Inc?
Hampton Roads Educators' Credit Union Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hrecu.org
Learn more at the official website: www.hrecu.org
Mission Statement of Hampton Roads Educators' Credit Union Inc
Hampton Roads Educators' Credit Union Inc is committed to providing financial services to its members. This nonprofit organization operates under the exemption granted by federal tax law, distinguishing it from traditional financial institutions. Its mission is centered around serving its member-base, offering a range of financial services that cater to their needs. By doing so, Hampton Roads Educators' Credit Union Inc contributes to financial well-being and stability among its members, fostering a sense of community and shared financial growth.
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Impact
October, 2024
Hampton Roads Educators' Credit Union Inc plays a crucial role in providing tailored financial services to its members, focusing primarily on educators and their families in the Hampton Roads area. By offering a range of financial products, such as savings accounts, loans, and other financial services, the credit union empowers its members to make informed financial decisions that enhance their economic well-being.
The credit union's commitment to serving the needs of its members fosters a sense of community and support among educators. This is particularly significant as it enables members to access financial solutions that align with their unique circumstances, such as competitive interest rates and personalized service.
Through its operations, Hampton Roads Educators' Credit Union Inc promotes financial literacy and security, enhancing the financial stability of its members and contributing positively to the local economy. The organization's mission to provide accessible financial services ultimately benefits the broader community as members utilize their financial resources to invest in their lives and contribute to local initiatives.
This information is meant to be a general summary of Hampton Roads Educators' 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: $245,316
- Program Service Revenue: $1,501,523
- Gross Receipts: $1,823,029
Assets and Liabilities:
- Total Assets: $41,695,486
- Total Liabilities: $39,715,452
- Net Assets: $1,980,034
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON MEMBER LOANS
Revenue
$1,013,943
MEMBER SERVICE FEES
Revenue
$487,580
Organization Details
Founding Year
1954
Phone
(757) 838-0707Principal Officer
Cornelious Chambliss
Main Address
2130 CUNNINGHAM DRIVE, HAMPTON, VA, 23666
Website
www.hrecu.orgNTEE Category
Code: W60 - Public benefit
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