Overview
What is Cornerstone Credit Union League?
Cornerstone Credit Union League is a nonprofit organization based in Plano, Texas. Established with a mission to safeguard and promote the growth, strength, and unity of credit unions, the organization provides essential regulatory and compliance assistance to its member credit unions through various channels. This includes phone and email services, annual videos on compliance issues, and regular updates through League Infosight online compliance manual and monthly e-newsletters. The team, comprising 26 dedicated individuals, handles over 3,000 phone calls annually to ensure members remain compliant with regulations. Their primary goal is to shield credit unions from potential risks and foster their growth and strength.
Official website here: www.cornerstoneleague.coop
Is Cornerstone Credit Union League legitimate?
Cornerstone Credit Union League is a legitimate nonprofit organization registered as a 501(c)(6) entity. Cornerstone Credit Union League 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: $783,926
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,553,134
For more financial information, click here
Official website here: www.cornerstoneleague.coop
What is the mission statement of Cornerstone Credit Union League?
The Cornerstone Credit Union League's mission is centered around safeguarding and fostering the growth of credit unions. This organization aims to strengthen the unity among credit unions, serving as a protective shield and a catalyst for their development. To fulfill this mission, they provide regulatory and compliance assistance through various channels, such as phone and email services, annual videos, and regular updates. Their Information Central division responds to over 3,000 inquiries and keeps the League's Infosight online compliance manual updated, while also distributing monthly compliance e-newsletters to member credit unions.
Official website here: www.cornerstoneleague.coop
Who is the CEO of Cornerstone Credit Union League?
Caroline Willard is the President/Ceo of Cornerstone Credit Union League. The CEO's salary of Cornerstone Credit Union League is $363,564 and their total compensation is $752,246.
Official website here: www.cornerstoneleague.coop
What is the revenue of Cornerstone Credit Union League?
Cornerstone Credit Union League's revenue in 2022 was $8,064,748.
Official website here: www.cornerstoneleague.coop
Who are the executives of Cornerstone Credit Union League and what are their salaries?
The average compensation at Cornerstone Credit Union League during 2022 was $89,887. There are 26 employees and 11 volunteers at Cornerstone Credit Union League.
Here are 20 key members and their salaries (Cornerstone Credit Union League's CEO's salary is $363,564 and their total compensation is $752,246):
- Compensation: $363,564
- Related: $363,564
- Other: $25,118
- Compensation: $322,926
- Related: $0
- Other: $30,115
- Compensation: $207,373
- Related: $0
- Other: $16,556
- Compensation: $210,695
- Related: $0
- Other: $9,542
- Compensation: $47,244
- Related: $121,483
- Other: $26,851
- Compensation: $160,291
- Related: $0
- Other: $18,999
- Compensation: $0
- Related: $145,605
- Other: $24,935
- Compensation: $151,175
- Related: $0
- Other: $14,325
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cornerstoneleague.coop
Where can I find the form 990 for Cornerstone Credit Union League?
Cornerstone Credit Union League's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cornerstoneleague.coop
Learn more at the official website: www.cornerstoneleague.coop
Mission Statement of Cornerstone Credit Union League
Cornerstone Credit Union League, a significant organization, is dedicated to safeguarding credit unions and fostering their growth, strength, and unity. Its mission is multifaceted, entailing protection and promotion of credit unions. The league achieves this by providing essential information and regulatory assistance to its member credit unions. This is primarily facilitated through Information Central, a division that handles phone and email inquiries, offering guidance on compliance matters. Additionally, Regulatory & Compliance generates annual videos to educate credit unions on crucial issues such as BSA and director duties and responsibilities. Information Central answers over 3,000 phone calls annually and distributes regulatory and legal updates to the league's online Compliance Manual, Infosight. Moreover, they distribute a monthly Compliance e-newsletter to member credit unions, keeping them updated on the latest regulatory changes. In essence, Cornerstone Credit Union League plays a vital role in supporting and strengthening the credit union sector.
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Impact
October, 2024
Cornerstone Credit Union League plays a vital role in the credit union sector by focusing on three key areas: protection, growth, and unity of credit unions. It delivers essential support through its Information Central division, which significantly contributes to the compliance and regulatory landscape for member credit unions.
Each year, this division responds to over 3,000 inquiries, offering a vital communication channel for credit unions seeking assistance and guidance on various compliance issues. This includes generating annual videos on critical compliance matters such as the Bank Secrecy Act (BSA) and director duties, ensuring that credit unions are well-informed and compliant with regulatory requirements.
Additionally, Cornerstone Credit Union League enhances member knowledge through the League Infosight online compliance manual and monthly compliance e-newsletters, providing timely updates on regulatory and legal changes. By fostering understanding and adherence to regulations, Cornerstone empowers credit unions to operate confidently and effectively, ultimately contributing to their overall strength and unity within the financial landscape.
This information is meant to be a general summary of Cornerstone Credit Union League. 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: $122,831
- Program Service Revenue: $7,544,188
- Gross Receipts: $8,064,748
Assets and Liabilities:
- Total Assets: $26,892,766
- Total Liabilities: $3,623,672
- Net Assets: $23,269,094
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEAGUE DUES
Revenue
$6,741,676
ANNUAL MEETING
Revenue
$647,257
COUNCIL INCOME
Revenue
$135,255
TRAINING RESOURCES
Revenue
$20,000
Organization Details
Founding Year
1934
Phone
(800) 442-5762Principal Officer
Caroline Willard
Main Address
6801 Parkwood BLVD Suite 300, Plano, TX, 75024
Website
www.cornerstoneleague.coopNTEE Category
Code: W03 - Public benefit
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