Overview
What is Railroad Community Credit Union?
Railroad Community Credit Union is a cooperative financial institution, established under the Alabama Credit Union Act. With a non-profit mission, it primarily encourages thrift and offers a reliable source of credit at reasonable rates to its members. Based in Irondale, Alabama, the credit union serves individuals associated with Norfolk Southern, the City of Irondale, Morris Shea Bridge, and residents or employees in specific counties. As of December 31, 2022, it boasted approximately 4,851 members, and its activities are governed by the Alabama Banking Code, Section 5-17-1. This credit union provides an opportunity for members to manage their finances collectively, contributing to their economic and social improvement.
Official website here: www.railroadfcu.com
Is Railroad Community Credit Union legitimate?
Railroad Community Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Railroad Community 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: $133,887
Professional Fundraising Fees: $0
Other Salaries and Wages: $426,273
For more financial information, click here
Official website here: www.railroadfcu.com
What is the mission statement of Railroad Community Credit Union?
The Railroad Community Credit Union operates as a cooperative, non-profit financial institution. Its primary objective, as outlined in the Alabama Credit Union Act, is to promote thrift among its members. This is achieved by providing them with an accessible source of credit at reasonable interest rates. Additionally, the credit union empowers its members by enabling them to manage their own funds, with the ultimate goal of enhancing their economic and social condition.
Official website here: www.railroadfcu.com
Who is the CEO of Railroad Community Credit Union?
Sharon Hazelwood is the Board Chairperson of Railroad Community Credit Union. The CEO's salary of Railroad Community Credit Union is $106,445 and their total compensation is $133,887.
Official website here: www.railroadfcu.com
What is the revenue of Railroad Community Credit Union?
Railroad Community Credit Union's revenue in 2022 was $1,723,193.
Official website here: www.railroadfcu.com
Who are the executives of Railroad Community Credit Union and what are their salaries?
The average compensation at Railroad Community Credit Union during 2022 was $62,240. There are 9 employees and 12 volunteers at Railroad Community Credit Union.
Here are 11 key members and their salaries (Railroad Community Credit Union's CEO's salary is $106,445 and their total compensation is $133,887):
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- Compensation: $106,445
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- Other: $27,442
Official website here: www.railroadfcu.com
Where can I find the form 990 for Railroad Community Credit Union?
Railroad Community Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.railroadfcu.com
Learn more at the official website: www.railroadfcu.com
Mission Statement of Railroad Community Credit Union
Railroad Community Credit Union, as a cooperative credit union, is established with a primary purpose that serves both its members and the community at large. This financial institution, operating under the Alabama Credit Union Act, promotes thrift among its members. By encouraging savings, it creates a reliable source of credit, offering fair and reasonable interest rates. Furthermore, Railroad Community Credit Union empowers its members by providing them with an opportunity to manage their own money, thereby aiming to improve their economic and social condition. The non-profit nature of this credit union sets it apart, as it operates for the benefit of its members rather than for profit.
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Impact
October, 2024
Railroad Community Credit Union significantly enhances the financial wellbeing of its members through a cooperative model that emphasizes thrift and access to credit. Operating under the Alabama Banking Code, the credit union serves individuals affiliated with Norfolk Southern, as well as residents and students in multiple counties, including Jefferson, Blount, St. Clair, Shelby, Walker, and Tuscaloosa.
With approximately 4,851 members as of the end of 2022, the credit union fosters a sense of community and financial empowerment. By offering fair and reasonable interest rates, Railroad Community Credit Union helps members manage their finances more effectively, ultimately contributing to improved economic and social conditions in the areas it serves. The institution's focus on promoting thrift enables members to save more efficiently, while the accessible credit options support personal and professional growth. This dual purpose not only benefits individual members but also strengthens the local community by encouraging financial stability and fostering responsible money management practices.
This information is meant to be a general summary of Railroad Community 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: $1,723,193
- Gross Receipts: $1,723,193
Assets and Liabilities:
- Total Assets: $109,116,520
- Total Liabilities: $97,498,171
- Net Assets: $11,618,349
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INVESTMENT INCOME
Revenue
$1,011,784
LOAN INTEREST INCOME
Revenue
$573,516
FINANCIAL SERVICE FEE
Revenue
$137,893
Organization Details
Founding Year
1956
Phone
(205) 956-0678Principal Officer
Sharon Hazelwood
Main Address
PO BOX 100185, IRONDALE, AL, 35210
Website
www.railroadfcu.comNTEE Category
Code: W60 - Public benefit
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