Overview
What is Union Pacific Employees Credit Union?
Union Pacific Employees Credit Union (UPECU) is a nonprofit financial institution situated in Beaumont, Texas. Established primarily for Union Pacific Railroad employees and their families, UPECU aims to provide a secure and financially beneficial environment. The credit union offers savings accounts that promise a decent return, while also extending consumer loans to its members. UPECU's main source of income is the interest generated from these loans. The credit union's operations include providing closed-end loans for personal use, offering collateral loans and signature loans. UPECU incurs expenses related to credit bureau reports, collection fees, promotional and advertising efforts, and provisions for potential loan losses. The credit union is managed by a team of three individuals.
Is Union Pacific Employees Credit Union legitimate?
Union Pacific Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Union Pacific Employees 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: $92,580
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Union Pacific Employees Credit Union?
Union Pacific Employees Credit Union (UPECU) was established with a mission to serve Union Pacific Railroad employees and their families by providing them with a secure and financially beneficial financial institution. The credit union aims to offer its members a reasonable return on their savings accounts and provides them with consumer loans. UPECU's lending program primarily includes closed-end loans for personal use, which can be either collateral loans or signature loans. The credit union generates revenue through the interest earned on its members' loans, while incurring expenses for credit bureau reports, collection fees, promotional and advertising efforts, and provisions for potential loan losses.
Who is the CEO of Union Pacific Employees Credit Union?
Darlene Stokes is the Board Of Director - Chairman of Union Pacific Employees Credit Union.
What is the revenue of Union Pacific Employees Credit Union?
Union Pacific Employees Credit Union's revenue in 2022 was $192,198.
Who are the executives of Union Pacific Employees Credit Union and what are their salaries?
The average compensation at Union Pacific Employees Credit Union during 2022 was $30,860. There are 3 employees and 7 volunteers at Union Pacific Employees Credit Union.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Union Pacific Employees Credit Union?
Union Pacific Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Union Pacific Employees Credit Union
Union Pacific Employees Credit Union (UPECU) serves as a financially secure and profitable institution primarily for Union Pacific Railroad employees and their families. Its mission is to offer its members a reasonable return on their savings accounts and provide them with consumer loans. Established with the well-being of its members in mind, UPECU aims to provide Union Pacific railroad employees with a reliable financial institution where they can save money and access loans for personal use. Its lending programs include closed-end loans, both secured and unsecured, providing the necessary financial support to its members while generating income through interest on the loans.
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Impact
October, 2024
Union Pacific Employees Credit Union (UPECU) plays a vital role in enhancing the financial well-being of Union Pacific Railroad employees and their families. By offering a secure and profitable financial institution, UPECU provides its members with access to favorable savings accounts and a variety of consumer loans.
The credit union's lending program consists of closed-end loans designed for personal use, enabling members to secure the funds they need for various life events or purchases. These loans include both collateral and signature loans, tailored to meet the specific needs of its members.
UPECU generates revenue primarily through interest on these loans, ensuring that it can continue offering competitive rates and services. The credit union also invests in maintaining operational efficiency, covering costs such as credit bureau reports and promotional activities. This focus on providing valuable financial services contributes significantly to the economic stability and growth of its members, making UPECU a cornerstone of financial support for the Union Pacific Railroad community in Beaumont, TX.
This information is meant to be a general summary of Union Pacific Employees 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: $10,526
- Program Service Revenue: $160,511
- Gross Receipts: $192,198
Assets and Liabilities:
- Total Assets: $4,035,740
- Total Liabilities: $3,099,906
- Net Assets: $935,834
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Lending Program
Revenue
$160,511
Organization Details
Founding Year
1953
Phone
(409) 842-2560Principal Officer
Darlene Stokes
Main Address
550 Lindbergh Drive, Beaumont, TX, 777073613
NTEE Category
Code: W60 - Public benefit
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