Overview
What is Resource One Credit Union?
Resource One Credit Union is a non-profit financial cooperative based in Texas, established under the Texas Credit Union act. With a mission to promote savings and lending among its members, the credit union offers accessible credit at fair and reasonable rates. Aside from financial services, it also provides member insurance sales for accidental death and dismemberment. The credit union generates additional income through foreign ATM fees.
Official website here: www.r1cu.org
Is Resource One Credit Union legitimate?
Resource One Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Resource One 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: $1,603,890
Professional Fundraising Fees: $0
Other Salaries and Wages: $15,192,877
For more financial information, click here
Official website here: www.r1cu.org
What is the mission statement of Resource One Credit Union?
Resource One Credit Union is a member-owned financial cooperative with a mission to encourage savings and provide affordable loans to its members. Incorporated under the Texas Credit Union act, it operates as a non-profit institution promoting financial well-being among its members. The cooperative offers credit at fair and reasonable rates and generates additional income from insurance sales and foreign ATM fees. Its primary goal is to serve its members by facilitating financial stability through savings and accessible credit. Additionally, the credit union aims to contribute to the financial well-being of its community by promoting thrift and financial literacy.
Official website here: www.r1cu.org
Who is the CEO of Resource One Credit Union?
Mary Beth Spuck is the CEO of Resource One Credit Union The CEO's salary of Resource One Credit Union is $508,584 and their total compensation is $537,130.
Official website here: www.r1cu.org
What is the revenue of Resource One Credit Union?
Resource One Credit Union's revenue in 2023 was $50,911,209.
Official website here: www.r1cu.org
Who are the executives of Resource One Credit Union and what are their salaries?
The average compensation at Resource One Credit Union during 2023 was $63,384. There are 265 employees and 8 volunteers at Resource One Credit Union.
Here are 20 key members and their salaries (Resource One Credit Union's CEO's salary is $508,584 and their total compensation is $537,130):
- Compensation: $10,101
- Related: $0
- Other: $0
- Compensation: $12,000
- Related: $0
- Other: $0
- Compensation: $7,000
- Related: $0
- Other: $0
- Compensation: $9,000
- Related: $0
- Other: $0
- Compensation: $12,000
- Related: $0
- Other: $0
- Compensation: $7,750
- Related: $0
- Other: $0
- Compensation: $6,500
- Related: $0
- Other: $0
- Compensation: $6,250
- Related: $0
- Other: $0
- Compensation: $1,350
- Related: $0
- Other: $0
- Compensation: $900
- Related: $0
- Other: $0
- Compensation: $508,584
- Related: $0
- Other: $28,546
- Compensation: $226,449
- Related: $0
- Other: $28,756
- Compensation: $240,557
- Related: $0
- Other: $27,296
- Compensation: $224,294
- Related: $0
- Other: $14,852
- Compensation: $191,783
- Related: $0
- Other: $39,922
- Compensation: $166,378
- Related: $0
- Other: $34,416
- Compensation: $166,111
- Related: $0
- Other: $23,735
- Compensation: $156,491
- Related: $0
- Other: $21,101
- Compensation: $148,460
- Related: $0
- Other: $28,958
- Compensation: $143,276
- Related: $0
- Other: $36,569
Official website here: www.r1cu.org
Where can I find the form 990 for Resource One Credit Union?
Resource One Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.r1cu.org
Learn more at the official website: www.r1cu.org
Mission Statement of Resource One Credit Union
Resource One Credit Union, a voluntary cooperative savings institution, was established with a mission to foster thrift and provide financial services to its members. Acting as a non-profit entity under the Texas Credit Union act, this financial cooperative aims to promote savings and offer loans to its members at reasonable rates.
At its core, Resource One Credit Union functions as a cooperative financial services provider. By pooling resources and working together, members have access to credit when they need it, all while benefiting from competitive interest rates. In addition to lending services, the credit union generates income through member insurance sales for accidental death and dismemberment (AD&D). This diversified revenue stream ensures the sustainability of the organization and its ability to serve its members effectively.
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Impact
October, 2024
Resource One Credit Union has a significant impact on its community and members by promoting financial well-being through accessible savings and loan options. By operating as a financial cooperative, it fosters thrift and provides members with fair credit rates, helping them achieve their financial goals. Its services include savings accounts and loans, which empower members to manage their finances effectively—encouraging responsible borrowing and saving practices.
Located in Dallas, Texas, Resource One also enhances its offerings with additional services such as insurance for accidental death and dismemberment (AD&D), further supporting members in planning for unforeseen circumstances. The credit union's commitment to affordable financial services enables residents to access the funds they need for important milestones, from purchasing homes to funding education, thereby contributing to the overall financial stability of the community.
Moreover, by earning income from foreign ATM fees, Resource One creates opportunities to reinvest in its services, ensuring that it can continue to provide valuable resources to its members. Overall, Resource One Credit Union plays a vital role in promoting economic growth and financial literacy within its community, making a positive difference in the lives of those it serves.
This information is meant to be a general summary of Resource One 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 2023.
- Investment Income: $3,964,024
- Program Service Revenue: $46,947,185
- Gross Receipts: $50,911,209
Assets and Liabilities:
- Total Assets: $825,257,395
- Total Liabilities: $769,461,081
- Net Assets: $55,796,314
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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
$31,172,471
FEES, CHARGES, OTHER
Revenue
$14,964,590
FINANCE AND INSURANCE
Revenue
$810,124
Organization Details
Founding Year
1986
Principal Officer
Mary Beth Spuck
Website
www.r1cu.orgNTEE Category
Code: W60 - Public benefit
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