Overview
What is Loudoun Credit Union?
Loudoun Credit Union is a nonprofit financial institution situated at 801 Sycolin Road SE, Leesburg, Virginia 20175. Its primary objective is to offer affordable financial services to its members, including savings accounts and loans. Operating under the principle of mutuality and without profit, the credit union provides a safety net for associations and banks, securing shares or deposits. With a team of 10 dedicated employees, Loudoun Credit Union aims to support its members by providing them with essential financial resources.
Is Loudoun Credit Union legitimate?
Loudoun Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Loudoun 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: $214,354
Professional Fundraising Fees: $0
Other Salaries and Wages: $325,116
For more financial information, click here
What is the mission statement of Loudoun Credit Union?
Loudoun Credit Union operates with a mutual purpose, functioning without profit. Its primary mission is to provide low-cost financial services, such as savings and loans, to its members. The credit union also maintains reserve funds for associations, banks, and ensures the insurance of shares or deposits. It serves its members by offering financial services like savings accounts and loans.
Who is the CEO of Loudoun Credit Union?
Travis Allen is the Board Chair of Loudoun Credit Union. The CEO's salary of Loudoun Credit Union is $139,841 and their total compensation is $171,513.
What is the revenue of Loudoun Credit Union?
Loudoun Credit Union's revenue in 2022 was $2,146,668.
Who are the executives of Loudoun Credit Union and what are their salaries?
The average compensation at Loudoun Credit Union during 2022 was $53,947. There are 10 employees and 13 volunteers at Loudoun Credit Union.
Here are 10 key members and their salaries (Loudoun Credit Union's CEO's salary is $139,841 and their total compensation is $171,513):
- 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: $139,841
- Related: $0
- Other: $31,672
- Compensation: $74,513
- Related: $0
- Other: $4,330
Where can I find the form 990 for Loudoun Credit Union?
Loudoun Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Loudoun Credit Union
Loudoun Credit Union, a nonprofit organization, is dedicated to providing its members with affordable financial services. Its primary objective is to operate for the mutual benefit of its members, ensuring the availability of reserve funds for associated banks and insurance coverage for shares or deposits. In simpler terms, Loudoun Credit Union serves its members by offering savings accounts and loans at reasonable costs, while also maintaining a reserve fund for potential financial needs and insuring the security of its members' savings and deposits.
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Impact
October, 2024
Loudoun Credit Union plays a crucial role in enhancing the financial well-being of its community members in Leesburg, VA. By offering low-cost financial services such as savings accounts and loans, the credit union empowers individuals to manage their finances more effectively and access the funds they need.
With a mission focused on serving the mutual interests of its members, Loudoun Credit Union fosters a sense of community and trust. This commitment ensures that reserve funds are available for its members and that their shares or deposits are insured, providing a secure financial environment.
Through its services, Loudoun Credit Union promotes public benefit by facilitating financial literacy, enabling savings, and providing affordable borrowing options, ultimately contributing to the overall economic health of the community.
This information is meant to be a general summary of Loudoun 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: $555,246
- Program Service Revenue: $1,271,664
- Gross Receipts: $2,147,516
Assets and Liabilities:
- Total Assets: $57,835,481
- Total Liabilities: $55,872,262
- Net Assets: $1,963,219
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,164,895
OTHER FEES
Revenue
$106,769
Organization Details
Founding Year
1978
Phone
(703) 777-4744Principal Officer
Travis Allen
Main Address
801 SYCOLIN RD SE 101, LEESBURG, VA, 20175
NTEE Category
Code: W60 - Public benefit
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