Overview
What is Alabama State Employees Credit Union?
Alabama State Employees Credit Union is a member-focused financial institution based in Montgomery, Alabama. With a mission to encourage savings among its members, the credit union offers various competitive savings products like savings, checking, and share certificates accounts, as well as Individual Retirement Account (IRA) savings. The credit union's operations aim to provide financial services to its membership base, which consists of over 44,000 members residing in Montgomery and the surrounding counties. Employing 143 individuals, the credit union is dedicated to helping its community members save and access credit at fair rates.
Official website here: www.asecu.org
What are the reviews and ratings of this charity?
The Alabama State Employees Credit Union is currently not rated by Charity Navigator. This is due to the organization not being registered as a 501(c)(3) nonprofit, which is a requirement for evaluation by Charity Navigator’s methodology. It's important to note that the absence of a rating doesn't suggest a positive or negative outlook, but rather that the credit union hasn't been evaluated under the current standards.
Historically, Charity Navigator focused mainly on accountability and financial metrics for their evaluations. However, the current model also considers aspects like leadership, community impact, and adaptability, which are not applicable to Alabama State Employees Credit Union due to its non-501(c)(3) status. As a result, components such as their financial transparency, impact, and leadership practices remain unevaluated.
User reviews from GreatNonprofits were not found, leaving a gap in accessible public feedback about personal experiences with the credit union. Consequently, potential members or interested parties might consider other avenues, such as local reviews or personal references, for insights into the organization’s service quality and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Alabama State Employees Credit Union legitimate?
Alabama State Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Alabama State Employees 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: $489,074
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,632,447
For more financial information, click here
Official website here: www.asecu.org
What is the mission statement of Alabama State Employees Credit Union?
The Alabama State Employees Credit Union is dedicated to promoting thrift among its members and serving as a reliable source of credit at reasonable interest rates. With a membership base exceeding 44,000, the credit union strives to help its members save by offering competitive savings products. These offerings include various types of savings accounts, such as checking, share certificates, and IRAs. Essentially, the credit union's mission is to assist its members in managing their finances effectively by providing savings opportunities and affordable credit.
Official website here: www.asecu.org
Who is the CEO of Alabama State Employees Credit Union?
Jason Dean is the Secretary of Alabama State Employees Credit Union. The CEO's salary of Alabama State Employees Credit Union is $212,933 and their total compensation is $243,484.
Official website here: www.asecu.org
What is the revenue of Alabama State Employees Credit Union?
Alabama State Employees Credit Union's revenue in 2022 was $23,220,315.
Official website here: www.asecu.org
Who are the executives of Alabama State Employees Credit Union and what are their salaries?
The average compensation at Alabama State Employees Credit Union during 2022 was $49,801. There are 143 employees and 12 volunteers at Alabama State Employees Credit Union.
Here are 11 key members and their salaries (Alabama State Employees Credit Union's CEO's salary is $212,933 and their total compensation is $243,484):
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- Compensation: $224,730
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- Other: $20,859
- Compensation: $212,933
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- Other: $30,551
Official website here: www.asecu.org
Where can I find the form 990 for Alabama State Employees Credit Union?
Alabama State Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.asecu.org
Learn more at the official website: www.asecu.org
Mission Statement of Alabama State Employees Credit Union
Alabama State Employees Credit Union, a financial institution with a mission to promote thrift among its members, was established to create a reliable source of credit for them at reasonable rates of interest. The credit union serves a membership base of over 44,000 individuals in Montgomery, Alabama, and the surrounding areas.
To fulfill its mission, the credit union offers a range of savings products designed to encourage members to save. These include savings, checking, and share certificate accounts, as well as Individual Retirement Account (IRA) savings. By providing these competitive savings options, the credit union aims to help its members build financial security and achieve their long-term savings goals.
In its pursuit of promoting thrift, the Alabama State Employees Credit Union goes beyond just offering savings accounts. It strives to create a vibrant, financially savvy community among its members. By instilling the values of saving and financial responsibility, the credit union empowers its members to make informed financial decisions and secure a stable financial future.
In summary, the Alabama State Employees Credit Union is a not-for-profit organization dedicated to helping its members save and access credit at reasonable rates. With a diverse range of savings products and a commitment to promoting financial literacy, the credit union plays a vital role in empowering its members to take control of their financial futures.
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Impact
October, 2024
Alabama State Employees Credit Union plays a vital role in enhancing the financial well-being of its community members in Montgomery, Alabama, and the surrounding areas. With a membership exceeding 44,000, the credit union is dedicated to promoting thrift among its members by offering a wide array of competitive savings products. These include savings and checking accounts, share certificates, and IRA savings, which help individuals manage their finances effectively and save for the future.
The credit union’s mission focuses on providing accessible credit sources at legitimate interest rates, ensuring that members can secure the funding they need without falling prey to predatory lending practices. This commitment fosters financial stability and empowers members to achieve their personal and financial goals. By prioritizing the needs of its members, Alabama State Employees Credit Union contributes significantly to the overall economic health of the community, offering support and resources that encourage long-term financial security.
This information is meant to be a general summary of Alabama State Employees 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: $2,554,138
- Program Service Revenue: $13,110,730
- Gross Receipts: $24,351,868
Assets and Liabilities:
- Total Assets: $417,583,945
- Total Liabilities: $384,560,907
- Net Assets: $33,023,038
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$13,110,730
Organization Details
Founding Year
1954
Phone
(800) 634-9171Principal Officer
Jason Dean
Main Address
1000 INTERSTATE PARK DRIVE, MONTGOMERY, AL, 36109
Website
www.asecu.orgNTEE Category
Code: W60 - Public benefit
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