Overview
What is Sweetex Credit Union?
Sweetex Credit Union is a financial institution located in Longview, Texas, primarily serving a single employee group and their families. Established with a focus on affordability, the credit union offers savings and loan services to its members, promoting financial well-being among its owner-members. As of December 31, 2012, the credit union boasted over 1000 member-owned accounts. Sweetex Credit Union encourages financial responsibility, providing monthly paid dividends on these accounts and offering convenient options like direct deposit and ACH transactions for transactions. Moreover, the credit union plays a crucial role in fostering saving habits among its members.
Is Sweetex Credit Union legitimate?
Sweetex Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Sweetex 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: $87,413
Professional Fundraising Fees: $0
Other Salaries and Wages: $37,750
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What is the mission statement of Sweetex Credit Union?
Sweetex Credit Union, as a member-owned financial institution, provides savings and loan services to a specific employee group and their families at affordable rates. Its mission is to foster the financial well-being of its members. The credit union offers various savings accounts, including Member Share/Savings Accounts, encouraging the development of saving habits. Member accounts receive monthly dividends, with the option for direct deposit and ACH transactions. Sweetex Credit Union actively promotes financial health among its members, aiming to provide economical financial solutions for its member-owners.
Who is the CEO of Sweetex Credit Union?
Lawanda Drennan is the President/Ceo of Sweetex Credit Union. The CEO's salary of Sweetex Credit Union is $87,413 and their total compensation is $112,813.
What is the revenue of Sweetex Credit Union?
Sweetex Credit Union's revenue in 2022 was $274,097.
Who are the executives of Sweetex Credit Union and what are their salaries?
The average compensation at Sweetex Credit Union during 2022 was $62,582. There are 2 employees and 6 volunteers at Sweetex Credit Union.
Here are 7 key members and their salaries (Sweetex Credit Union's CEO's salary is $87,413 and their total compensation is $112,813):
- Compensation: $87,413
- Related: $0
- Other: $25,400
- 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
Where can I find the form 990 for Sweetex Credit Union?
Sweetex Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sweetex Credit Union
Sweetex Credit Union, as a member-owned financial institution, is dedicated to providing savings and loan services to a single employee group and their families at economical rates. The primary objective of Sweetex Credit Union is to encourage financial health among its members. It achieves this by offering savings accounts with numerous benefits, such as monthly paid dividends, direct deposit, and ACH transactions, which promote the development of saving habits among its members. The credit union had over a thousand member-owned accounts as of December 31, 2012, underscoring its commitment to its members.
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Impact
October, 2024
Sweetex Credit Union has a significant impact on its members and the community by providing accessible savings and loan options tailored to a specific employee group and their families. With over 1,000 member-owned accounts as of December 31, 2012, the credit union fosters financial wellness among its members through competitive rates and advantageous savings accounts.
Members benefit from monthly dividends on their savings, enhancing their financial growth and encouraging the development of strong saving habits. Additionally, services such as direct deposit and ACH transactions facilitate convenient banking, further supporting the financial health of member-owners. By prioritizing affordability and accessibility, Sweetex Credit Union plays a crucial role in promoting economic stability and community engagement for its members in Longview, Texas.
This information is meant to be a general summary of Sweetex 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: $125,936
- Program Service Revenue: $148,161
- Gross Receipts: $274,097
Assets and Liabilities:
- Total Assets: $10,947,699
- Total Liabilities: $7,427,194
- Net Assets: $3,520,505
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON MEMBER LOANS
Revenue
$143,361
LOAN PRODUCTS
Revenue
$4,639
MEMBER FEE INCOM
Revenue
$161
Organization Details
Founding Year
1952
Phone
(903) 753-1150Principal Officer
Lawanda Drennan
Main Address
4421 W Loop 281, Longview, TX, 756045552
NTEE Category
Code: W60 - Public benefit
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