Overview
What is North East Texas Credit Union?
North East Texas Credit Union (NETCU) is a financial cooperative, based in Lone Star, Texas, specifically at 1115 Lone Star Blvd, with a mission to enhance the financial well-being and standard of living of its members. The credit union offers various savings accounts, including member share accounts that pay monthly dividends, special accounts for children and youth, share certificates, and a range of IRAs such as Roth and traditional. NETCU aims to serve its members effectively, adjusting dividend rates according to balance increases. As of 2021, the total share balances stood at an impressive $181,465,013, with a dedicated workforce of 69 employees.
Official website here: www.thenetcu.com
Is North East Texas Credit Union legitimate?
North East Texas Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. North East Texas 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: $399,655
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,597,998
For more financial information, click here
Official website here: www.thenetcu.com
What is the mission statement of North East Texas Credit Union?
North East Texas Credit Union, as a financial cooperative, is committed to enhancing the financial well-being and standard of living of its members. Its primary activity is providing loans and various services to its credit union members. The credit union offers a range of savings accounts, including member share accounts that offer monthly dividends and special accounts for children and youth. It also provides share certificates with higher rates for members with larger savings over a fixed period. Furthermore, North East Texas Credit Union offers a variety of Individual Retirement Accounts (IRAs), including Roth and traditional ones. As of 2021, the credit union had total share balances of $181,465,013.
Official website here: www.thenetcu.com
Who is the CEO of North East Texas Credit Union?
Barbara Kay Stewart is the President/Ceo/Sec&Treasurer (Retired 6/30/22) of North East Texas Credit Union. The CEO's salary of North East Texas Credit Union is $214,629 and their total compensation is $233,313.
Official website here: www.thenetcu.com
What is the revenue of North East Texas Credit Union?
North East Texas Credit Union's revenue in 2021 was $9,477,993.
Official website here: www.thenetcu.com
Who are the executives of North East Texas Credit Union and what are their salaries?
The average compensation at North East Texas Credit Union during 2021 was $43,444. There are 69 employees and 5 volunteers at North East Texas Credit Union.
Here are 9 key members and their salaries (North East Texas Credit Union's CEO's salary is $214,629 and their total compensation is $233,313):
- Compensation: $214,629
- Related: $0
- Other: $18,684
- Compensation: $143,765
- Related: $0
- Other: $22,576
- Compensation: $128,828
- Related: $0
- Other: $15,948
- Compensation: $101,424
- Related: $0
- Other: $31,974
- Compensation: $102,243
- Related: $0
- Other: $22,736
- 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.thenetcu.com
Where can I find the form 990 for North East Texas Credit Union?
North East Texas Credit Union's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.thenetcu.com
Learn more at the official website: www.thenetcu.com
Mission Statement of North East Texas Credit Union
North East Texas Credit Union (NETCU) is a financial cooperative dedicated to enhancing the financial well-being and standard of living of its members. The mission of this credit union is to provide its members with access to loans and financial services. In pursuit of this goal, NETCU offers a range of savings accounts, including member share accounts that pay dividends on balances of $100 or more, with dividend rates increasing as balances grow. The credit union also offers special accounts for children and youth, designed to help young individuals learn about saving and money management. Furthermore, NETCU provides share certificates, which offer higher interest rates to members who deposit larger sums over a fixed period of time. Additionally, the credit union offers various types of IRAs, including Roth and traditional IRAs. As of the end of 2021, NETCU had total share balances of $181,465,013. In essence, North East Texas Credit Union is committed to serving its members by offering a variety of savings options and helping them build their financial futures.
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Impact
October, 2024
North East Texas Credit Union (NETCU) significantly enhances the financial well-being and standard of living of its members through a range of services tailored to meet diverse financial needs. By offering a variety of savings accounts, NETCU enables members to earn regular monthly dividends, with rates increasing as balances grow. This structure incentivizes saving and financial growth among members.
In addition to standard accounts, NETCU provides specialized accounts aimed at children and youth, fostering early financial literacy and money management skills. These offerings are designed not just to save, but to educate the next generation on the importance of financial responsibility.
NETCU also features Share Certificates that benefit members looking to invest larger sums of money for a fixed period, providing higher rates that encourage long-term savings. Furthermore, the credit union offers IRAs, including both Roth and Traditional options, helping members plan for their retirement with tailored savings strategies.
With a total of $181,465,013 in share balances at the end of 2021, NETCU demonstrates its strong impact in the community by promoting financial stability and empowerment for its members while reinforcing a cooperative spirit.
This information is meant to be a general summary of North East Texas 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 2021.
- Investment Income: $1,137,512
- Program Service Revenue: $8,324,601
- Gross Receipts: $9,478,018
Assets and Liabilities:
- Total Assets: $200,998,493
- Total Liabilities: $181,703,469
- Net Assets: $19,295,024
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$4,516,739
FEE INCOME
Revenue
$1,805,032
OTHER OPERATING INCOME
Revenue
$1,509,357
SWC CAPITAL REFUND
Revenue
$493,473
Organization Details
Founding Year
1948
Phone
(903) 656-2576Principal Officer
Barbara Kay Stewart
Main Address
1115 LONE STAR BLVD, LONE STAR, TX, 75668
Website
www.thenetcu.comNTEE Category
Code: W60 - Public benefit
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