Georgia United Credit Union

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

EIN: 580800932 ✦ Duluth, GA ✦ Designated as a 501(c)(14)

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Overview

What is Georgia United Credit Union?

Georgia United Credit Union is a not-for-profit financial cooperative established in 1958 to meet the financial needs of its members. Located in Duluth, Georgia, the credit union operates on the principle of encouraging thrift by providing loans at fair rates and returning profits through competitive dividends on savings. Each member owns an equal share, regardless of account balance, and the board of directors is elected by the members. The primary mission of the organization is to generate income from loans to credit union members.


Official website here: www.gucu.org

What are the reviews and ratings of this charity?

Georgia United Credit Union is not currently rated by Charity Navigator due to its status outside the 501(c)(3) IRS registered nonprofit category. Charity Navigator ratings generally focus on metrics like Accountability & Finance and Impact & Measurement, which are applicable only to 501(c)(3) organizations. Therefore, the absence of a rating does not necessarily reflect a positive or negative assessment of its operations.

Historically, Charity Navigator ratings mainly considered aspects similar to today's Accountability and Finance score. However, the Georgia United Credit Union cannot be evaluated under these criteria due to its foundation and affiliation status. It participates as a subordinate in a group ruling, which further differentiates its operational and financial reporting requirements from the standard evaluations applicable to typical nonprofits.

No additional insights or user reviews are available from GreatNonprofits to provide perspective on community engagement or individual experiences with Georgia United Credit Union. This lack of data limits a comprehensive understanding of its strengths or areas needing improvement from a user satisfaction viewpoint.


This AI summary has been generated from information found on Charity Navigator.

Is Georgia United Credit Union legitimate?

Georgia United Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Georgia United 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: $5,976,354
Professional Fundraising Fees: $0
Other Salaries and Wages: $22,295,753

For more financial information, click here


Official website here: www.gucu.org

What is the mission statement of Georgia United Credit Union?

Georgia United Credit Union was established in 1958 as a not-for-profit financial cooperative, designed to cater to the financial requirements of its members. This credit union operates on the principles of encouraging thrift and providing affordable loans, competitive dividends on savings, and fewer maintenance fees. The organization is governed by a board of directors, who are elected by the members. The primary mission of the credit union is to generate income from interest on loans given to its members, at market rates. Georgia United Credit Union functions with the goal of promoting financial well-being for its members, by offering fair and reasonable financial services.


Official website here: www.gucu.org

Who is the CEO of Georgia United Credit Union?

Robert Bogart is the Chairman of Georgia United Credit Union. The CEO's salary of Georgia United Credit Union is $533,311 and their total compensation is $580,980.


Official website here: www.gucu.org

What is the revenue of Georgia United Credit Union?

Georgia United Credit Union's revenue in 2022 was $92,912,725.


Official website here: www.gucu.org

Who are the executives of Georgia United Credit Union and what are their salaries?

The average compensation at Georgia United Credit Union during 2022 was $65,294. There are 433 employees and 11 volunteers at Georgia United Credit Union.


Here are 23 key members and their salaries (Georgia United Credit Union's CEO's salary is $533,311 and their total compensation is $580,980):


Thomas Dickson (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Frank Thach (Vice-Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Edwin Bell (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
David Arner (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rev Mark Starr (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jason Branch (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sandy Burney (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Cindy Salloum (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Steve Geddes (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Debbie Smith (President/Ceo)
  • Compensation: $1,276,733
  • Related: $0
  • Other: $37,044
Robert Bogart (Cfo)
  • Compensation: $424,277
  • Related: $0
  • Other: $158,036
Laura King (President/Ceo)
  • Compensation: $533,311
  • Related: $0
  • Other: $47,669
Shawn Turpin (Evp)
  • Compensation: $477,255
  • Related: $0
  • Other: $1,922
Thomas Bartholomew (Cio)
  • Compensation: $708,046
  • Related: $0
  • Other: $169,862
Aaron Chestnut (Cmo)
  • Compensation: $698,116
  • Related: $0
  • Other: $37,683
Michael London (Cso)
  • Compensation: $396,232
  • Related: $0
  • Other: $125,468
Stephanie Walker (Clo)
  • Compensation: $360,366
  • Related: $0
  • Other: $117,879
Carolina King (Cpo)
  • Compensation: $287,282
  • Related: $0
  • Other: $119,173
Amanda Whitson (Svp Consumer Lending And Collections)
  • Compensation: $210,053
  • Related: $0
  • Other: $63,048
Andrew Woodman (Svp Mortgage Lending And Loan Trading)
  • Compensation: $227,688
  • Related: $0
  • Other: $38,154
Robert Hutchinson (Vp Application Development)
  • Compensation: $220,578
  • Related: $0
  • Other: $44,894
Sophia Rollins (Vp Compliance And Risk Mgt)
  • Compensation: $212,838
  • Related: $0
  • Other: $50,357
James Jones (Vp Accounting)
  • Compensation: $214,640
  • Related: $0
  • Other: $42,737


Official website here: www.gucu.org

Where can I find the form 990 for Georgia United Credit Union?

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


Official website here: www.gucu.org

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

Mission Statement of Georgia United Credit Union

Georgia United Credit Union, founded in 1958, is a not-for-profit financial cooperative committed to serving its members' financial needs. As a credit union, it operates on the principle of encouraging thrift by providing loans at fair and reasonable rates and paying competitive dividends on savings products. The credit union is unique as it is owned and controlled by its members, with each member holding an equal share, regardless of account balance.

The mission of Georgia United Credit Union is centered around income generation through loans to its members. It provides loans to its members at market rates, which is a primary focus of the organization. The credit union's leadership is elected by its members, ensuring that the financial interests of the community are prioritized. The organization's mission remains unchanged from its inception, making it a trusted financial partner for its members for over six decades.

Georgia United Credit Union is more than just a financial institution. It is a cooperative, where members come together to meet their financial needs. By offering loans at fair and reasonable rates and competitive dividends on savings, the credit union not only fulfills its mission but also fosters a culture of savings and financial responsibility within its membership. The democratic structure of the credit union, where members have a say in its leadership, adds to its unique appeal and sets it apart from traditional financial institutions.

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Impact




October, 2024

Georgia United Credit Union has a significant impact on the financial well-being of its members and the broader community. Established in 1958, it operates as a financial cooperative designed to meet the diverse needs of its members. By offering loans at fair and reasonable rates, the credit union enables individuals to achieve their financial goals, whether it's purchasing a home, financing education, or starting a business.

The organization prioritizes thrift and savings, providing competitive dividends on savings products while implementing fewer service fees for account maintenance. This approach not only incentivizes saving but also ensures that members retain more of their earnings. As a member-owned institution, every individual has an equal stake, fostering a strong sense of community and shared purpose.

Through its effective lending practices, Georgia United Credit Union generates income from interest on loans, which in turn supports additional member services and community initiatives. This cycle of support uplifts not only individual members but also the wider Duluth, GA area and beyond, fostering economic mobility and financial stability. With an elected board of directors representing member interests, the credit union remains committed to serving its members and improving their financial lives.




This information is meant to be a general summary of Georgia United 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
$92,912,725 (2022)
201120122013201420152016201720182019202020212022$0$25M$50M$75M$100M
Expenses
$68,368,106 (2022)
201120122013201420152016201720182019202020212022$0$20M$40M$60M$80M
Efficiency
2011201220132014201520162017201820192020202120220%8%16%24%36%

Other financial information:

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

  • Investment Income: $5,469,499
  • Program Service Revenue: $87,443,226
  • Gross Receipts: $199,535,389

Assets and Liabilities:

  • Total Assets: $2,035,662,864
  • Total Liabilities: $1,883,478,921
  • Net Assets: $152,183,943

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Programs

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

LOAN INTEREST

Revenue

$57,033,334

OTHER OPERATING INCOME

Revenue

$17,760,152

FEE INCOME

Revenue

$12,649,740

Organization Details

Founding Year

1958

Principal Officer

Robert Bogart

Main Address

6705 SUGARLOAF PKWY, DULUTH, GA, 30097

NTEE Category

Code: W60 - Public benefit

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