Overview
What is Members Credit Union?
Members Credit Union is a Winston Salem, North Carolina-based financial cooperative with a membership of 50,873 and 134 employees. Their mission is to provide a comprehensive suite of financial products to their members, acting as their primary financial institution. The credit union offers various loan options, including consumer and mortgage loans, and services such as checking and savings accounts. Members also have access to financial planning and remote account management. Additionally, they participate in the Co-Op Shared Branching network, enabling members to perform transactions outside of their local branch. As a member-owned organization, Members Credit Union aims to contribute to the well-being of its members by offering reasonable and diverse financial solutions.
Official website here: www.memcu.com
What are the reviews and ratings of this charity?
Members Credit Union is not currently rated by Charity Navigator due to its non-501(c)(3) status. This status excludes it from the typical evaluations Charity Navigator conducts, such as Accountability & Finance, Impact & Measurement, and other key performance indicators used for 501(c)(3)-registered nonprofits. Thus, the absence of a rating does not convey a positive or negative judgment.
The available data indicates that Members Credit Union functions as a subordinate in a group ruling according to the IRS Business Master File, which affects its eligibility for standard nonprofit evaluations. However, no significant financial or leadership data is available from Charity Navigator, such as total revenue, expenses, or the salary of key persons. This lack of available information suggests a limitation in independently assessing the credit union's operations.
There are currently no user reviews available from GreatNonprofits for Members Credit Union. Without user insights, it is challenging to fully gauge the public's perception or experiences with the credit union's services and community involvement.
This AI summary has been generated from information found on Charity Navigator.
Is Members Credit Union legitimate?
Members Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Members 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: $722,433
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,801,647
For more financial information, click here
Official website here: www.memcu.com
What is the mission statement of Members Credit Union?
Members Credit Union, as a member-owned cooperative, prioritizes the well-being of its members by offering them a diverse range of financial products and services. The primary mission is to provide reasonable and accessible banking solutions to enhance their financial lives. The credit union provides various loan options and services to all members, including checking and savings accounts, consumer loans, and mortgage loans through Highland Residential Mortgage. Additionally, members have the benefit of financial planning assistance and remote account access. The Family Security Plan ensures financial security and protection for the members. Through the Co-Op Shared Branching network, members can perform transactions even when they are away from their home branch.
Official website here: www.memcu.com
Who is the CEO of Members Credit Union?
Robert C Donley is the President/Ceo of Members Credit Union. The CEO's salary of Members Credit Union is $495,670 and their total compensation is $495,670.
Official website here: www.memcu.com
What is the revenue of Members Credit Union?
Members Credit Union's revenue in 2022 was $22,460,729.
Official website here: www.memcu.com
Who are the executives of Members Credit Union and what are their salaries?
The average compensation at Members Credit Union during 2022 was $41,224. There are 134 employees and 11 volunteers at Members Credit Union.
Here are 16 key members and their salaries (Members Credit Union's CEO's salary is $495,670 and their total compensation is $495,670):
- Compensation: $495,670
- Related: $0
- Other: $0
- Compensation: $157,365
- Related: $0
- Other: $0
- Compensation: $155,043
- Related: $0
- Other: $0
- Compensation: $130,443
- Related: $0
- Other: $0
- Compensation: $109,261
- Related: $0
- Other: $0
- Compensation: $108,803
- Related: $0
- Other: $0
- Compensation: $69,398
- 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.memcu.com
Where can I find the form 990 for Members Credit Union?
Members Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memcu.com
Learn more at the official website: www.memcu.com
Mission Statement of Members Credit Union
Members Credit Union, a member-owned cooperative, is dedicated to enhancing the financial wellbeing of its members. By providing a comprehensive range of diverse products and services, Members Credit Union aims to become the primary financial institution for each member. With a mission to offer reasonable financial solutions, the credit union offers various loans to members, totaling 35,298 in number. Moreover, Members Credit Union caters to the financial needs of all its members, boasting a membership base of 50,873 individuals.
Beyond loans, Members Credit Union offers essential banking services such as checking and savings accounts. Members have the flexibility to manage their finances remotely and can access their accounts through the Co-Op Shared Branching network. The credit union also provides members with financial planning resources to help them make informed decisions about their financial future. Additionally, Members Credit Union offers various loan options, including consumer and mortgage loans, through its affiliate, Highland Residential Mortgage.
Members Credit Union goes beyond just financial services, aiming to provide additional benefits to its members. It offers a Family Security Plan, which provides financial assistance to members in times of need. Members Credit Union continues to innovate and adapt to the evolving financial landscape, ensuring it remains a trusted partner for its members.
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Impact
October, 2024
Members Credit Union has a significant impact on the financial well-being of its members in Winston Salem, NC, and beyond. With 50,873 members and a total of 35,298 loans issued, the credit union serves as a primary financial institution, providing a diverse range of products designed to meet its members' needs.
These offerings include checking and savings accounts, consumer loans, and mortgage loans through Highland Residential Mortgage. Members also benefit from financial planning services, remote account access, and the Family Security Plan, ensuring comprehensive support for various financial goals.
Moreover, Members Credit Union enhances convenience by allowing transactions through the Co-Op Shared Branching network, making it easier for members to manage their finances. Overall, Members Credit Union is dedicated to fostering financial stability and security for its members through affordable and accessible products and services.
This information is meant to be a general summary of Members 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: $4,422,904
- Program Service Revenue: $17,993,943
- Gross Receipts: $22,460,729
Assets and Liabilities:
- Total Assets: $463,047,549
- Total Liabilities: $411,910,917
- Net Assets: $51,136,632
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest on loans
Revenue
$11,867,676
Fees
Revenue
$6,126,267
Organization Details
Founding Year
1953
Phone
(336) 748-4800Principal Officer
Robert C Donley
Main Address
2098 Frontis Plaza Blvd, Winston Salem, NC, 27103
Website
www.memcu.comNTEE Category
Code: W60 - Public benefit
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