Overview
What is United Credit Union?
United Credit Union, located at 4901 Old Jacksonville Hwy, Tyler, TX 75703, is a member-owned, non-profit financial institution that offers a comprehensive range of financial services to its members. Their primary offerings include Term Share Certificates, which are savings accounts that require a specific time commitment in exchange for a higher earning rate. Early withdrawal may incur a penalty. The Credit Union's largest expense in savings and checking accounts is associated with Term Share Certificates. United Credit Union operates as a cooperative, ensuring that its members have a say in its operations and decisions.
Official website here: www.unitedcu.coop
Is United Credit Union legitimate?
United Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. United 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: $136,482
Professional Fundraising Fees: $0
Other Salaries and Wages: $245,766
For more financial information, click here
Official website here: www.unitedcu.coop
What is the mission statement of United Credit Union?
United Credit Union operates as a cooperative, membership-owned, non-profit entity, providing a comprehensive range of financial services to its members. Its primary mission is to serve its members effectively, offering full financial services on a cooperative basis. United Credit Union provides various savings accounts, including term share certificates, which have a higher earning rate due to their longer deposit periods. Members may incur a penalty if they withdraw their funds before maturity. The largest expense for saving and checking accounts within the union is primarily attributed to term share certificates.
Official website here: www.unitedcu.coop
Who is the CEO of United Credit Union?
Sherri Mcelyea is the President of United Credit Union.
Official website here: www.unitedcu.coop
What is the revenue of United Credit Union?
United Credit Union's revenue in 2022 was $1,414,983.
Official website here: www.unitedcu.coop
Who are the executives of United Credit Union and what are their salaries?
The average compensation at United Credit Union during 2022 was $34,750. There are 11 employees at United Credit Union.
Here are 9 key members and their salaries:
- Compensation: $81,223
- Related: $0
- Other: $0
- Compensation: $55,259
- 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.unitedcu.coop
Where can I find the form 990 for United Credit Union?
United Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.unitedcu.coop
Learn more at the official website: www.unitedcu.coop
Mission Statement of United Credit Union
United Credit Union, as a cooperative, membership-owned, and non-profit entity, is dedicated to providing comprehensive financial services to its members. Its mission is centered around offering a wide array of financial products, with a focus on savings accounts such as Term Share Certificates. These savings accounts, placed on deposit for specific time periods, provide members with a higher earning rate due to the required length of commitment. Early withdrawal before maturity results in a penalty, making Term Share Certificates a significant expense-saving option for members in their savings and checking accounts.
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Impact
October, 2024
United Credit Union has a significant impact on its members and the broader community in Tyler, Texas. As a cooperative and membership-owned financial institution, it prioritizes the needs and interests of its members, providing access to full financial services that empower individuals and families to achieve their financial goals.
By offering products such as certificate term share accounts, United Credit Union helps members grow their savings with higher earning rates, creating opportunities for wealth accumulation over time. These accounts require deposits to be held for specified periods, encouraging members to save consistently. This focus on fostering saving habits contributes to the financial stability of its members.
Additionally, United Credit Union plays an essential role in the local economy by reinvesting its resources back into the community. As a member-focused organization, it emphasizes public benefit, ensuring that the financial services provided prioritize accessibility and affordability for all members. Through its cooperative structure, it nurtures a sense of community, encouraging financial literacy and collaboration among its members, which in turn supports overall economic development in the region.
Overall, United Credit Union not only serves as a financial resource but also as a catalyst for positive change in the lives of its members and the community at large.
This information is meant to be a general summary of United 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: $57,146
- Program Service Revenue: $1,357,837
- Gross Receipts: $1,414,983
Assets and Liabilities:
- Total Assets: $30,228,000
- Total Liabilities: $28,116,232
- Net Assets: $2,111,768
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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
$1,044,818
FEE INCOME
Revenue
$262,161
MISCELLANEOUS INCOME
Revenue
$50,858
NON-MEMBER ATM FEES
Organization Details
Founding Year
1932
Principal Officer
Sherri Mcelyea
Main Address
4901 OLD JACKSONVILLE HWY, TYLER, TX, 75703
Website
www.unitedcu.coopNTEE Category
Code: W60 - Public benefit
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