Overview
What is Mountain Credit Union?
Mountain Credit Union is a state-chartered credit union with over 29,500 members based in Waynesville, North Carolina. Acting as a mutual organization, its primary purpose is to foster savings through promoting thrift, issuing shares, and maintaining accounts. The funds not required for immediate liquidity or loans are invested temporarily. The credit union serves its members by making loans to them. With a team of 93 employees, Mountain Credit Union is dedicated to its mission.
Official website here: www.mountaincu.org
Is Mountain Credit Union legitimate?
Mountain Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Mountain 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: $1,073,349
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,048,183
For more financial information, click here
Official website here: www.mountaincu.org
What is the mission statement of Mountain Credit Union?
Mountain Credit Union is a member-owned cooperative with over 29,500 members. Its primary mission is to promote thrift and issue shares while maintaining members' accounts. The credit union also extends loans to its members with funds not required for liquidity or immediate loans. Any excess funds are temporarily invested towards its objectives. All financial transactions of the credit union are aligned with its purpose.
Official website here: www.mountaincu.org
Who is the CEO of Mountain Credit Union?
Amy S Woody is the Ceo of Mountain Credit Union. The CEO's salary of Mountain Credit Union is $246,266 and their total compensation is $246,266.
Official website here: www.mountaincu.org
What is the revenue of Mountain Credit Union?
Mountain Credit Union's revenue in 2022 was $17,481,627.
Official website here: www.mountaincu.org
Who are the executives of Mountain Credit Union and what are their salaries?
The average compensation at Mountain Credit Union during 2022 was $44,318. There are 93 employees and 9 volunteers at Mountain Credit Union.
Here are 15 key members and their salaries (Mountain Credit Union's CEO's salary is $246,266 and their total compensation is $246,266):
- Compensation: $246,266
- Related: $0
- Other: $0
- Compensation: $136,041
- Related: $0
- Other: $0
- Compensation: $129,574
- Related: $0
- Other: $0
- Compensation: $127,771
- Related: $0
- Other: $0
- Compensation: $116,275
- Related: $0
- Other: $0
- Compensation: $107,270
- Related: $0
- Other: $0
- Compensation: $106,966
- Related: $0
- Other: $0
- Compensation: $103,186
- 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.mountaincu.org
Where can I find the form 990 for Mountain Credit Union?
Mountain Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mountaincu.org
Learn more at the official website: www.mountaincu.org
Mission Statement of Mountain Credit Union
Mountain Credit Union, a state-chartered credit union, is collectively owned by its 29,508 members. The organization's primary objective is to encourage savings, issue shares, and manage accounts for its members. In addition, it extends loans to its membership base. Any surplus funds that are not required for liquidity or lending purposes are temporarily invested. All revenues and expenses of the credit union are dedicated to this mission.
Mountain Credit Union operates as a financial cooperative, where each member holds a stake in the institution. The credit union's activities revolve around promoting thrift and providing affordable financial services to its members. By owning a share in the credit union, members have a voice in its governance and can participate in its decision-making process. The mission of Mountain Credit Union is centered around its members, ensuring they have access to financial services and opportunities to save and borrow.
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Impact
October, 2024
Mountain Credit Union significantly impacts its community by serving as a financially empowering institution for its 29,508 members. By promoting thrift and providing access to essential financial services, it supports individual and collective economic well-being.
The credit union helps its members save money, offering them a secure place to maintain accounts and earn interest on their savings. Additionally, Mountain Credit Union plays a crucial role in facilitating loans, enabling members to finance personal projects, home purchases, and other significant life events. By investing funds that are not immediately needed for loans or liquidity, they further bolster their capacity to serve their members effectively.
Through these activities, Mountain Credit Union fosters a culture of financial literacy and responsibility, ultimately contributing to the overall economic stability of the Waynesville community and beyond. Their focus on member ownership ensures that the financial interests and needs of their community are prioritized in every decision made.
This information is meant to be a general summary of Mountain 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.
- Program Service Revenue: $17,481,627
- Gross Receipts: $17,481,627
Assets and Liabilities:
- Total Assets: $333,072,854
- Total Liabilities: $301,379,024
- Net Assets: $31,693,830
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$9,947,786
INVESTMENT INTEREST
Revenue
$1,598,059
FEE INCOME
Revenue
$4,215,840
OTHER INCOME
Revenue
$360,280
GAINLOSS-FIXED ASSET
Revenue
$1,359,662
Organization Details
Founding Year
1963
Principal Officer
Amy S Woody
Main Address
1700 RUSS AVENUE, WAYNESVILLE, NC, 28786
Website
www.mountaincu.orgNTEE Category
Code: W60 - Public benefit
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