Baylands Family Credit Union

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 546038172 ✦ West point, VA ✦ Designated as a 501(c)(14)

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Overview

What is Baylands Family Credit Union?

Baylands Family Credit Union is a member-owned financial institution situated in West Point, Virginia. With a focus on serving its membership, the credit union offers less expensive loan products and comparatively high deposit account rates, ensuring the maximum benefits for its members while maintaining financial stability. Baylands Family Credit Union also values employee performance and professionalism, aiming to create an environment that stimulates outstanding achievements. As a nonprofit entity, its primary goal is to provide financial services, rather than generating profits. With a workforce of 28 individuals, Baylands Family Credit Union is dedicated to meeting the financial needs of its community.


Official website here: www.baylandsfcu.org

Is Baylands Family Credit Union legitimate?

Baylands Family Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Baylands Family 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: $106,636
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,174,139

For more financial information, click here


Official website here: www.baylandsfcu.org

What is the mission statement of Baylands Family Credit Union?

Baylands Family Credit Union is dedicated to catering to the financial requirements of its membership. It is their responsibility to optimize benefits for members while ensuring financial stability. The credit union fosters an environment that encourages exceptional performance and professionalism from its employees. Being a member-owned institution, Baylands Family Credit Union operates not for profit, but for the service of its members.


Official website here: www.baylandsfcu.org

Who is the CEO of Baylands Family Credit Union?

Teresa Millis is the Director of Baylands Family Credit Union. The CEO's salary of Baylands Family Credit Union is $106,636 and their total compensation is $106,636.


Official website here: www.baylandsfcu.org

What is the revenue of Baylands Family Credit Union?

Baylands Family Credit Union's revenue in 2022 was $3,730,943.


Official website here: www.baylandsfcu.org

Who are the executives of Baylands Family Credit Union and what are their salaries?

The average compensation at Baylands Family Credit Union during 2022 was $45,742. There are 28 employees and 12 volunteers at Baylands Family Credit Union.


Here are 14 key members and their salaries (Baylands Family Credit Union's CEO's salary is $106,636 and their total compensation is $106,636):


Martha E Hart (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
David Dupuis (Supervisory Committee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Bellanca (Supervisory Committee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Todd C Welch (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Troy E Foster (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Terry A Reed (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jason C Roberts (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mary G Simmons (401(K) & Pension Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Carolyn B Lockley (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
George R Carter (Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Deborah T Ball (Asst. Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rebecca Rubino (Chair, Supervisory Committ)
  • Compensation: $0
  • Related: $0
  • Other: $0
Teresa Millis (Ceo)
  • Compensation: $106,636
  • Related: $0
  • Other: $0
Joseph F Drexler Iii (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.baylandsfcu.org

Where can I find the form 990 for Baylands Family Credit Union?

Baylands Family Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.baylandsfcu.org

Learn more at the official website: www.baylandsfcu.org

Mission Statement of Baylands Family Credit Union

Baylands Family Credit Union is dedicated to serving the financial needs of its membership. This member-owned institution operates with a responsibility to maximize benefits for its members while maintaining financial stability. Baylands Family Credit Union provides an environment that stimulates its employees to achieve outstanding performance and professionalism. The credit union exists not for profit, but for service, demonstrating its commitment to its members and community.

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Impact




October, 2024

Baylands Family Credit Union delivers a significant impact on its community through a strong focus on meeting the financial needs of its members. By offering less expensive loan products compared to other financial institutions, it helps individuals and families achieve their financial goals more affordably. The credit union also provides competitive deposit account rates, enhancing members' savings potential.

Moreover, Baylands Family Credit Union is deeply involved in the community, fostering a sense of connection and support among its members. Its commitment to financial stability ensures that it can consistently deliver benefits to its members, while also creating an environment that encourages employees to excel in their roles. This dedication results in outstanding service and professionalism, ultimately empowering members to make sound financial decisions and build a better future for themselves and their families.




This information is meant to be a general summary of Baylands Family 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.

Revenue
$3,730,943 (2022)
Expenses
$3,441,001 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $369,316
  • Program Service Revenue: $2,333,843
  • Gross Receipts: $3,730,943

Assets and Liabilities:

  • Total Assets: $92,757,799
  • Total Liabilities: $88,983,318
  • Net Assets: $3,774,481

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

LOAN INTEREST

Revenue

$2,333,843

Organization Details

Founding Year

1946

Principal Officer

Teresa Millis

Main Address

PO BOX 392, WEST POINT, VA, 23181

NTEE Category

Code: W60 - Public benefit

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