Overview
What is Corporate America Credit Union?
Corporate America Credit Union is a cooperative society based in Irondale, Alabama, with a mission to promote thrift among its members and create a source of credit for them at reasonable rates, as stated by the Code of Alabama. Established as an Alabama state-chartered corporate credit union, its primary function is to cater to the liquidity and investment needs of member credit unions, primarily located within Alabama and surrounding states. The credit union serves as a sound financial institution, offering correspondent, investment, and related educational services to its credit union clients, adhering to the credit union philosophy. As of December 31, 2022, Corporate America Credit Union boasts a membership of 523 credit unions and a team of 77 dedicated employees.
Official website here: www.corpam.org
Is Corporate America Credit Union legitimate?
Corporate America Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Corporate America 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: $3,785,943
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,667,161
For more financial information, click here
Official website here: www.corpam.org
What is the mission statement of Corporate America Credit Union?
Corporate America Credit Union is a cooperative society incorporated to serve as a reliable financial institution for credit unions. Its mission is to provide a sound source of liquidity, correspondent, investment, and related educational services that cater to the financial needs of credit unions in a manner consistent with credit union philosophy. The credit union aims to offer these services to enhance the financial stability and growth of its member credit unions. By acting as a cooperative, Corporate America Credit Union fosters a sense of mutual benefit and solidarity among its members, ultimately contributing to a stronger and more resilient credit union community.
Official website here: www.corpam.org
Who is the CEO of Corporate America Credit Union?
Rachel Dodson is the 1St Vice Chairman of Corporate America Credit Union. The CEO's salary of Corporate America Credit Union is $721,713 and their total compensation is $751,386.
Official website here: www.corpam.org
What is the revenue of Corporate America Credit Union?
Corporate America Credit Union's revenue in 2022 was $74,719,214.
Official website here: www.corpam.org
Who are the executives of Corporate America Credit Union and what are their salaries?
The average compensation at Corporate America Credit Union during 2022 was $122,768. There are 77 employees and 16 volunteers at Corporate America Credit Union.
Here are 24 key members and their salaries (Corporate America Credit Union's CEO's salary is $721,713 and their total compensation is $751,386):
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- Compensation: $397,798
- Related: $0
- Other: $30,076
- Compensation: $721,713
- Related: $0
- Other: $29,673
- Compensation: $296,983
- Related: $0
- Other: $31,067
- Compensation: $296,118
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- Other: $29,920
- Compensation: $241,405
- Related: $0
- Other: $15,469
- Compensation: $200,447
- Related: $0
- Other: $24,108
- Compensation: $131,813
- Related: $0
- Other: $13,844
- Compensation: $302,473
- Related: $0
- Other: $29,805
- Compensation: $172,229
- Related: $0
- Other: $23,667
- Compensation: $173,048
- Related: $0
- Other: $18,068
- Compensation: $187,060
- Related: $0
- Other: $24,029
- Compensation: $175,586
- Related: $0
- Other: $22,222
- Compensation: $174,537
- Related: $0
- Other: $22,785
Official website here: www.corpam.org
Where can I find the form 990 for Corporate America Credit Union?
Corporate America Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.corpam.org
Learn more at the official website: www.corpam.org
Mission Statement of Corporate America Credit Union
Corporate America Credit Union, a cooperative society incorporated, functions as a credit union aimed at serving the financial needs of other credit unions. The organization's mission is geared towards operating as a reliable financial institution, providing various services that align with the credit union philosophy.
In essence, Corporate America Credit Union serves as a valuable resource for credit unions by offering a range of services. These offerings include liquidity, correspondent, investment, and educational services. By doing so, the credit union aims to meet the financial demands of its member credit unions in a manner consistent with the cooperative credit union philosophy. In simpler terms, the credit union acts as a supportive network, offering financial solutions that enable its members to thrive and grow.
The significance of Corporate America Credit Union lies in its mission to provide credit unions with essential services that help them better serve their own members. By offering a sound financial foundation, the credit union empowers its members to meet the diverse financial needs of their communities. In doing so, Corporate America Credit Union contributes to the overall strength and stability of the credit union system.
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Impact
October, 2024
Corporate America Credit Union plays a significant role in supporting the financial ecosystem of credit unions across Alabama and the surrounding states. Established to address the liquidity and investment needs of its member credit unions, it provides essential financial services that contribute to their stability and growth. With 523 member credit unions as of December 31, 2022, Corporate America acts as a vital resource, offering services such as settlement and investment solutions.
By fostering a cooperative society, Corporate America promotes a culture of thrift and responsible credit use among its members. Its mission focuses on delivering sound financial services that align with the core values of credit unions, which are centered around mutual benefit and community support. This approach not only strengthens the financial standing of member credit unions but also enhances the overall economic well-being of their members.
In essence, Corporate America Credit Union's impact extends beyond its direct services; it contributes to the broader mission of credit unions to provide accessible financial resources at legitimate rates. This commitment supports sustainable growth and financial education, ultimately benefiting countless individuals and communities served by its member organizations.
This information is meant to be a general summary of Corporate America 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: -$4,739,690
- Program Service Revenue: $79,458,904
- Gross Receipts: $988,658,823
Assets and Liabilities:
- Total Assets: $3,066,469,561
- Total Liabilities: $2,908,783,261
- Net Assets: $157,686,300
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME ON INVESTMENTS
Revenue
$58,793,985
U.S. CENTRAL DISTRIBUTION
Revenue
$10,172,235
FINANCIAL SERVICE FEES
Revenue
$5,540,232
INTEREST INCOME AND FEES
Revenue
$3,352,993
ITEM PROCESSING FEES
Revenue
$1,599,459
Organization Details
Founding Year
1982
Phone
(205) 313-4300Principal Officer
Rachel Dodson
Main Address
4365 CRESCENT ROAD, IRONDALE, AL, 35210
Website
www.corpam.orgNTEE Category
Code: W60 - Public benefit
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