Overview
What is Jefferson Credit Union?
Jefferson Credit Union is a cooperative society, established as a nonprofit organization in Alabama, primarily serving the employees and their relatives of Jefferson County, Alabama municipality. Its primary mission is to foster savings among its members and provide them with legitimate credit opportunities. As a credit union, it operates under Alabama Banking Code, Section 5-17-1, with the goal of promoting thrift and creating a reliable credit source for its members. As of December 31, 2022, Jefferson Credit Union catered to around 7,137 members, offering its services within the specified member demographic. The organization employs approximately 30 individuals, dedicated to providing its unique offerings to its member base.
Official website here: www.jeffersoncreditunion.org
What do the Facebook reviews say about Jefferson Credit Union?
94% of 42 reviewers on Facebook recommend Jefferson Credit Union. Here's a summary of their thoughts:
Many users express strong loyalty to Jefferson Credit Union, highlighting the favorable banking experience they receive. However, there is a notable concern, as one individual mentioned a lack of satisfaction with their experience, which suggests that while the majority are pleased, there's potential room for improvement for a small segment of clients.
Overall, the sentiment leans towards positivity, with users appreciating the services offered and the community feel of the credit union. They seem to appreciate the personal touch that smaller institutions can provide compared to larger banks.
This AI summary has been generated from reviews found on Facebook.
Is Jefferson Credit Union legitimate?
Jefferson Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Jefferson 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: $446,908
Professional Fundraising Fees: $0
Other Salaries and Wages: $753,312
For more financial information, click here
Official website here: www.jeffersoncreditunion.org
What is the mission statement of Jefferson Credit Union?
Jefferson Credit Union functions as a cooperative society, incorporating two primary objectives. Firstly, it encourages savings among its members, fostering a culture of thrift. Secondly, it serves as a reliable source of credit for its members, offering loans at reasonable interest rates. This Alabama-based credit union, primarily catering to employees and their relatives from Jefferson County, Alabama municipality, adheres to these principles as stated in the Alabama Banking Code, Section 5-17-1. With approximately 7,137 members served as of December 31, 2022, Jefferson Credit Union continues to uphold its mission of promoting thrift and providing affordable credit to its membership.
Official website here: www.jeffersoncreditunion.org
Who is the CEO of Jefferson Credit Union?
Richard Morris is the CEO of Jefferson Credit Union The CEO's salary of Jefferson Credit Union is $131,479 and their total compensation is $62,069.
Official website here: www.jeffersoncreditunion.org
What is the revenue of Jefferson Credit Union?
Jefferson Credit Union's revenue in 2023 was $4,360,262.
Official website here: www.jeffersoncreditunion.org
Who are the executives of Jefferson Credit Union and what are their salaries?
The average compensation at Jefferson Credit Union during 2023 was $44,453. There are 27 employees and 10 volunteers at Jefferson Credit Union.
Here are 16 key members and their salaries (Jefferson Credit Union's CEO's salary is $131,479 and their total compensation is $62,069):
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $131,479
- Related: $0
- Other: -$69,410
- Compensation: $24,124
- Related: $0
- Other: $32
- Compensation: $82,578
- Related: $0
- Other: $18,611
- Compensation: $82,165
- Related: $0
- Other: $16,427
- Compensation: $77,793
- Related: $0
- Other: $80
- Compensation: $77,056
- Related: $0
- Other: $5,973
Official website here: www.jeffersoncreditunion.org
Where can I find the form 990 for Jefferson Credit Union?
Jefferson Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.jeffersoncreditunion.org
Learn more at the official website: www.jeffersoncreditunion.org
Mission Statement of Jefferson Credit Union
Jefferson Credit Union, as a cooperative society, is established with a dual purpose. Its primary objective is to foster thrift among its members, encouraging them to save money. Simultaneously, the credit union serves as a reliable source of credit for its members, offering loans at reasonable interest rates. This cooperative structure allows Jefferson Credit Union to cater to its members, primarily employees and their relatives in Jefferson County, Alabama. As of December 31, 2022, the credit union has served approximately 7,137 members, demonstrating its commitment to its mission.
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Impact
October, 2024
Jefferson Credit Union plays a vital role in promoting financial empowerment within the community it serves. By fostering a culture of thrift, the credit union encourages its members, primarily employees of Jefferson County, Alabama, and their relatives, to save and manage their finances effectively. This focus on thrift not only benefits individual members but also contributes to the overall financial stability of the local community.
Additionally, Jefferson Credit Union offers access to credit at legitimate rates, which is crucial for individuals who may otherwise face challenges obtaining loans from traditional banks. By providing these financial services, the credit union helps members achieve their personal and financial goals, whether it be purchasing a home, financing education, or meeting other significant life expenses.
With approximately 7,137 members as of December 31, 2022, Jefferson Credit Union has a significant outreach and impact in Hoover, Alabama. Its cooperative model ensures that profits are reinvested into the organization, enhancing services and reducing fees for members, further reinforcing its mission to serve the community. Overall, Jefferson Credit Union stands as a cornerstone of financial support, promoting economic growth and stability among its members.
This information is meant to be a general summary of Jefferson 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 2023.
- Program Service Revenue: $4,360,262
- Gross Receipts: $4,360,262
Assets and Liabilities:
- Total Assets: $78,709,342
- Total Liabilities: $72,893,172
- Net Assets: $5,816,170
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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
$2,841,086
FINC SVCS FEE/MISC INC
Revenue
$1,060,953
INVESTMENTS
Revenue
$458,223
Organization Details
Founding Year
1941
Principal Officer
Richard Morris
Website
www.jeffersoncreditunion.orgNTEE Category
Code: W60 - Public benefit
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