Overview
What is Red Oak Credit Union?
Red Oak Credit Union is a financial institution located in Tuscaloosa, Alabama, specifically at 1008 Veterans Memorial PKWY. Its primary mission is to serve its approximately 4,725 members by providing a range of financial services, including loans and savings options. With a team of 14 dedicated individuals, Red Oak Credit Union contributes to the financial well-being of its community by offering various financial solutions.
Official website here: www.redoakcu.com
Is Red Oak Credit Union legitimate?
Red Oak Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Red Oak 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $569,917
For more financial information, click here
Official website here: www.redoakcu.com
What is the mission statement of Red Oak Credit Union?
Red Oak Credit Union is committed to providing financial services to its approximately 4,725 members. This includes offering them various loan services and savings options. The primary mission of the credit union is to serve its members, providing them with the financial tools they need. By doing so, Red Oak Credit Union aims to contribute positively to its members' financial well-being. It should be noted that the credit union's activities are centered around offering loans and savings services to its members.
Official website here: www.redoakcu.com
Who is the CEO of Red Oak Credit Union?
Shep Lowery is the President/Ce of Red Oak Credit Union.
Official website here: www.redoakcu.com
What is the revenue of Red Oak Credit Union?
Red Oak Credit Union's revenue in 2022 was $2,234,656.
Official website here: www.redoakcu.com
Who are the executives of Red Oak Credit Union and what are their salaries?
The average compensation at Red Oak Credit Union during 2022 was $40,708. There are 14 employees and 9 volunteers at Red Oak Credit Union.
Here are 10 key members and their salaries:
- Compensation: $116,750
- Related: $0
- Other: $26,275
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.redoakcu.com
Where can I find the form 990 for Red Oak Credit Union?
Red Oak Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.redoakcu.com
Learn more at the official website: www.redoakcu.com
Mission Statement of Red Oak Credit Union
Red Oak Credit Union, a credit union entity, is committed to providing financial services to its approximately 4,725 members. Their primary mission is to offer a range of loan, savings, and other financial services to its member base. The credit union aims to cater to the financial needs of its members, extending support through various loan services. By doing so, Red Oak Credit Union contributes to the financial well-being of its members, providing them with the resources they need to manage their finances effectively.
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Impact
October, 2024
Red Oak Credit Union plays a vital role in the Tuscaloosa community by offering essential financial services to its approximately 4,725 members. By providing a variety of loan services, the credit union supports individuals and families in achieving their financial goals, whether it's purchasing a home, financing a vehicle, or managing personal expenses. The focus on member services fosters financial stability and growth, contributing to the overall economic well-being of the community. Additionally, the commitment to public benefit ensures that the credit union operates with the interests of its members in mind, reinforcing its positive impact on local residents.
This information is meant to be a general summary of Red Oak 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: $311,743
- Program Service Revenue: $1,358,733
- Gross Receipts: $2,234,656
Assets and Liabilities:
- Total Assets: $40,895,274
- Total Liabilities: $38,996,686
- Net Assets: $1,898,588
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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
$902,413
FEE INCOME
Revenue
$456,320
Organization Details
Founding Year
1955
Phone
(205) 759-1371Principal Officer
Shep Lowery
Main Address
1008 VETERANS MEMORIAL PKWY, TUSCALOOSA, AL, 35404
Website
www.redoakcu.comNTEE Category
Code: W60 - Public benefit
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