Overview
What is Virginia Educators Credit Union?
Virginia Educators Credit Union is a nonprofit financial institution located at 12626 Nettles Drive, Newport News, VA 23606. Its primary mission is to offer affordable financial services to its members, including loans, depository services, credit cards, and internet banking. The credit union catered to 381 individuals who might not have secured such loans from other financial institutions during the year. Moreover, the credit union provided free financial literacy presentations within various schools to promote financial education. The credit union's membership primarily consists of educators, students, and retired educators in specific localities.
Official website here: www.vecu.org
Is Virginia Educators Credit Union legitimate?
Virginia Educators Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Virginia Educators 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $326,498
For more financial information, click here
Official website here: www.vecu.org
What is the mission statement of Virginia Educators Credit Union?
Virginia Educators Credit Union's mission is to offer affordable financial services to its members. This includes providing loan relationships, depository services, credit cards, and internet banking at convenient locations. The credit union's team of professionals strives to deliver excellent service. They extended loans to 381 individuals during the year, many of whom might have struggled to secure loans from other financial institutions. Furthermore, the credit union provided deposit services to its members and offered free financial literacy presentations and services within various schools.
Official website here: www.vecu.org
Who is the CEO of Virginia Educators Credit Union?
Dennis Jarrett is the Treasurer of Virginia Educators Credit Union.
Official website here: www.vecu.org
What is the revenue of Virginia Educators Credit Union?
Virginia Educators Credit Union's revenue in 2022 was $2,332,693.
Official website here: www.vecu.org
Who are the executives of Virginia Educators Credit Union and what are their salaries?
The average compensation at Virginia Educators Credit Union during 2022 was $20,406. There are 16 employees and 12 volunteers at Virginia Educators Credit Union.
Here are 8 key members and their salaries:
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Official website here: www.vecu.org
Where can I find the form 990 for Virginia Educators Credit Union?
Virginia Educators Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vecu.org
Learn more at the official website: www.vecu.org
Mission Statement of Virginia Educators Credit Union
Virginia Educators Credit Union, in its mission, strives to offer affordable financial services to its members. This encompasses establishing loan relationships, providing depository services, issuing credit cards, and offering internet banking at convenient locations. The credit union's professional team is dedicated to delivering excellent service, ensuring that its members have access to financial resources that might otherwise be unattainable from other institutions. In addition to these financial services, Virginia Educators Credit Union extends its reach to the community by offering free financial literacy presentations and services within various schools.
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Impact
October, 2024
Virginia Educators Credit Union significantly impacts its community by providing affordable financial services tailored to the unique needs of its members. Over the past year, the Credit Union issued loans to 381 individuals, many of whom would have faced barriers in obtaining financing from traditional financial institutions. This access to loans empowers members to manage their financial challenges and pursue education and other opportunities.
In addition to lending, the Credit Union offers depository services that help members save and manage their finances effectively. With a focus on education, Virginia Educators Credit Union delivers free financial literacy presentations and services in various local schools, equipping students and their families with essential financial knowledge and skills.
The membership base primarily includes those involved in education within specific Virginia locales, encompassing students, educators, alumni, and their families. By focusing on this demographic, the Credit Union fosters financial well-being and community support, establishing itself as a vital resource for educational service members and their families.
This information is meant to be a general summary of Virginia Educators 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: $1,101,751
- Program Service Revenue: $1,226,791
- Gross Receipts: $2,332,693
Assets and Liabilities:
- Total Assets: $79,815,449
- Total Liabilities: $69,454,882
- Net Assets: $10,360,567
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES AND CHARGES
Revenue
$639,722
LOAN INTEREST
Revenue
$587,069
Organization Details
Founding Year
1954
Phone
(757) 930-2425Principal Officer
Dennis Jarrett
Main Address
12626 NETTLES DRIVE, NEWPORT NEWS, VA, 23606
Website
www.vecu.orgNTEE Category
Code: W60 - Public benefit
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