Overview
What is Naheola Credit Union?
Naheola Credit Union is a cooperative society, established under the regulations of Alabama, serving as a financial institution for its members. Its primary objective is to foster savings among its members and offer them affordable credit options at fair interest rates. The credit union primarily caters to residents of various counties in Alabama, such as Choctaw, Marengo, Washington, Clarke, Sumter, Hale, Perry, Greene, Mobile, Escambia, and Baldwin. However, its membership is also extended to individuals who work, conduct business, or attend churches in these areas. As of December 31, 2022, the credit union had around 11,326 members and provided services to this community. With a team of 42 employees, Naheola Credit Union plays a crucial role in supporting the financial needs of its members in Alabama.
Official website here: www.naheola.com
Is Naheola Credit Union legitimate?
Naheola Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Naheola 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: $546,304
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,453,983
For more financial information, click here
Official website here: www.naheola.com
What is the mission statement of Naheola Credit Union?
Naheola Credit Union operates as a cooperative society, serving a dual purpose. Its primary goal is to encourage savings among its members, fostering financial discipline. Simultaneously, it aims to provide its members with access to credit at reasonable interest rates. This credit union, incorporated under the Code of Alabama, serves its members predominantly residing in various counties such as Choctaw, Marengo, Washington, Clarke, Sumter, Hale, Perry, Greene, Mobile, Escambia, and Baldwin. The credit union's membership is also open to individuals working, doing business, or attending churches in these counties. As of December 31, 2022, Naheola Credit Union had approximately 11,326 members, offering its services to this community.
Official website here: www.naheola.com
Who is the CEO of Naheola Credit Union?
Mark Johnson is the Board - Member of Naheola Credit Union. The CEO's salary of Naheola Credit Union is $195,000 and their total compensation is $247,079.
Official website here: www.naheola.com
What is the revenue of Naheola Credit Union?
Naheola Credit Union's revenue in 2022 was $9,386,778.
Official website here: www.naheola.com
Who are the executives of Naheola Credit Union and what are their salaries?
The average compensation at Naheola Credit Union during 2022 was $47,626. There are 42 employees and 10 volunteers at Naheola Credit Union.
Here are 15 key members and their salaries (Naheola Credit Union's CEO's salary is $195,000 and their total compensation is $247,079):
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- Compensation: $195,000
- Related: $0
- Other: $52,079
- Compensation: $131,512
- Related: $0
- Other: $27,185
- Compensation: $111,270
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- Other: $29,258
- Compensation: $157,300
- Related: $0
- Other: $23,524
- Compensation: $135,900
- Related: $0
- Other: $27,508
Official website here: www.naheola.com
Where can I find the form 990 for Naheola Credit Union?
Naheola Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.naheola.com
Learn more at the official website: www.naheola.com
Mission Statement of Naheola Credit Union
Naheola Credit Union, as a cooperative credit union, is established with a dual purpose. Its primary objective is to foster thrift among its members, encouraging them to save. Simultaneously, the credit union serves as a source of credit for its members, providing loans at reasonable interest rates. This cooperative society, incorporated in accordance with the Code of Alabama, aims to benefit its members by promoting financial responsibility and offering accessible credit options. Naheola Credit Union, with a membership of approximately 11,326 individuals as of December 31, 2022, caters to its members primarily residing in various counties in Alabama, including but not limited to Choctaw, Marengo, Washington, Clarke, Sumter, Hale, Perry, Greene, Mobile, Escambia, and Baldwin County. The credit union also extends its membership to individuals working, conducting business, or attending churches in these counties.
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Impact
October, 2024
Naheola Credit Union significantly impacts its community by promoting financial well-being among its members. Established under Alabama law, it operates as a cooperative credit union with the dual purpose of fostering thrift and providing accessible credit at reasonable interest rates. Serving approximately 11,326 members, primarily in Choctaw, Marengo, Washington, Clarke, Sumter, Hale, Perry, Greene, Mobile, Escambia, and Baldwin counties, Naheola Credit Union ensures that individuals working or attending church in these areas also have access to its services.
By focusing on promoting thrift, Naheola helps members develop healthy saving habits, which contributes to their financial security. Additionally, its commitment to offering credit at legitimate rates allows members to access funds they need for various purposes, including home purchases, education, and emergency expenses. Through these efforts, Naheola Credit Union plays a vital role in enhancing economic stability and empowering its members to achieve their financial goals.
This information is meant to be a general summary of Naheola 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: $9,386,778
- Gross Receipts: $9,386,778
Assets and Liabilities:
- Total Assets: $165,827,709
- Total Liabilities: $138,677,159
- Net Assets: $27,150,550
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS TO M
Revenue
$6,986,326
FINANCIAL SERVICE FEE
Revenue
$2,044,102
INVESTMENT INCOME
Revenue
$356,350
Organization Details
Founding Year
1959
Phone
(205) 654-2370Principal Officer
Mark Johnson
Main Address
PO BOX 102, PENNINGTON, AL, 369160102
Website
www.naheola.comNTEE Category
Code: W60 - Public benefit
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