Overview
What is Oak Farms Employees Credit Union?
Oak Farms Employees Credit Union is a nonprofit financial institution located in Houston, Texas, specifically at 3430 LEELAND, ZIP code 77003. Established with the goal of promoting savings among its members, this credit union offers various loan products at competitive interest rates. By doing so, it aims to provide its members with a means to enhance their financial well-being. The credit union, which employs a team of three individuals, is dedicated to this mission, operating under the principle of offering credit at fair and reasonable rates.
Is Oak Farms Employees Credit Union legitimate?
Oak Farms Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Oak Farms 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: $68,496
Professional Fundraising Fees: $0
Other Salaries and Wages: $56,267
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What is the mission statement of Oak Farms Employees Credit Union?
Oak Farms Employees Credit Union was established with the primary objective of promoting savings among its members. It offers credit at reasonable interest rates, serving as a means to enhance their financial standing. The credit union's mission is to provide its members with a chance to improve their economic condition. It achieves this by offering various loan products at competitive rates.
Who is the CEO of Oak Farms Employees Credit Union?
Sophie Salinas is the CEO of Oak Farms Employees Credit Union The CEO's salary of Oak Farms Employees Credit Union is $64,896 and their total compensation is $64,896.
What is the revenue of Oak Farms Employees Credit Union?
Oak Farms Employees Credit Union's revenue in 2024 was $333,635.
Who are the executives of Oak Farms Employees Credit Union and what are their salaries?
The average compensation at Oak Farms Employees Credit Union during 2024 was $62,382. There are 2 employees at Oak Farms Employees Credit Union.
Here are 7 key members and their salaries (Oak Farms Employees Credit Union's CEO's salary is $64,896 and their total compensation is $64,896):
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- Compensation: $64,896
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- Other: $0
Where can I find the form 990 for Oak Farms Employees Credit Union?
Oak Farms Employees Credit Union's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Oak Farms Employees Credit Union
Oak Farms Employees Credit Union was established with a mission to encourage savings among its members, provide credit at reasonable rates, and offer an opportunity to enhance their economic condition. This mission is aimed at supporting the financial well-being of its members, ensuring they have access to credit when needed, and providing them with the tools to improve their financial status. The credit union's activities are centered around this mission, offering a variety of loan products at competitive rates to its members.
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Impact
October, 2024
Oak Farms Employees Credit Union plays a significant role in its community by promoting financial well-being among its members. By encouraging thrift and providing access to credit at competitive rates, the credit union helps its members improve their economic condition. This focus on responsible lending and savings enables individuals to achieve their financial goals and fosters a culture of financial empowerment.
Located in Houston, Texas, Oak Farms Employees Credit Union offers a range of loan products tailored to meet the diverse needs of its members. Its commitment to fair and reasonable interest rates makes it an appealing choice for those seeking financial support. Through these efforts, the credit union not only strengthens the financial stability of its members but also contributes positively to the local economy. Its mission has a lasting impact on the community by enhancing financial literacy and providing opportunities for economic advancement.
This information is meant to be a general summary of Oak Farms 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 2024.
- Investment Income: $29,763
- Program Service Revenue: $303,872
- Gross Receipts: $333,635
Assets and Liabilities:
- Total Assets: $3,884,729
- Total Liabilities: $2,798,823
- Net Assets: $1,085,906
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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
$242,674
FEES AND CHARGES
Revenue
$40,958
OTHER INCOME
Revenue
$20,240
Organization Details
Founding Year
1953
Principal Officer
Sophie Salinas
NTEE Category
Code: W60 - Public benefit
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