Overview
What is Members Credit Union?
Members Credit Union, situated in Cleburne, Texas, is a cooperative financial institution that specializes in offering savings, checking, and lending services to its members. With assets growing from $105.8 million to $108.9 million in 2022, the credit union has demonstrated a stable financial position, despite general economic fluctuations in the marketplace. The number of members served slightly decreased from 8,443 to 8,228 during this period. The credit union's dedicated workforce of 21 employees remains committed to exceeding service expectations while addressing members' financial needs, making Members Credit Union a valuable resource for its community.
Official website here: www.memberscreditunion.com
Is Members Credit Union legitimate?
Members Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Members 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: $200,491
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,039,037
For more financial information, click here
Official website here: www.memberscreditunion.com
What is the mission statement of Members Credit Union?
Members Credit Union's mission statement is centered around exceeding member service expectations while addressing their financial needs. The cooperative prioritizes committing to this goal, demonstrating a dedication to its members' financial well-being. In 2022, Members Credit Union experienced growth in its assets, deposits, and loans, while maintaining a strong capital position, even amidst marketplace economic factors. Despite a decrease in the number of members served, the credit union continues to provide a wide range of financial services, including savings, checking, and lending offerings.
Official website here: www.memberscreditunion.com
Who is the CEO of Members Credit Union?
Paul T Elkins is the President of Members Credit Union. The CEO's salary of Members Credit Union is $160,810 and their total compensation is $200,491.
Official website here: www.memberscreditunion.com
What is the revenue of Members Credit Union?
Members Credit Union's revenue in 2022 was $4,778,213.
Official website here: www.memberscreditunion.com
Who are the executives of Members Credit Union and what are their salaries?
The average compensation at Members Credit Union during 2022 was $59,025. There are 21 employees at Members Credit Union.
Here are 10 key members and their salaries (Members Credit Union's CEO's salary is $160,810 and their total compensation is $200,491):
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- Compensation: $160,810
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- Other: $39,681
Official website here: www.memberscreditunion.com
Where can I find the form 990 for Members Credit Union?
Members Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memberscreditunion.com
Learn more at the official website: www.memberscreditunion.com
Mission Statement of Members Credit Union
Members Credit Union, as a cooperative provider of financial services, is committed to surpassing the service expectations of its members while attending to their financial needs. In essence, the credit union is dedicated to catering to its members' savings, checking, and lending requirements, ensuring a satisfactory experience throughout. The organization's mission is twofold: it aims to exceed the service standards set by its members and to meticulously address their financial requirements. This approach reflects Members Credit Union's dedication to its members' well-being and financial wellness. In 2022, the credit union demonstrated its commitment to its mission by experiencing growth in various financial aspects, such as assets, deposits, and loans, despite the challenges presented by general economic factors in the marketplace. The credit union's capital position also remained robust at 8.67%, demonstrating its financial stability and ability to serve its members effectively.
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Impact
October, 2024
Members Credit Union (MCU) plays a vital role in the financial landscape of Cleburne, TX, by offering cooperative credit union services that promote financial well-being among its members. In 2022, MCU demonstrated growth in key financial indicators, with assets increasing from $105.8 million to $108.9 million. The credit union also saw deposits rise from $97.6 million to $99.5 million and loans expand from $59 million to $60.8 million, reflecting a strong demand for its services.
Despite a decrease in the number of members served—from 8,443 to 8,228—MCU maintained a robust capital position at 8.67%, showcasing its resilience in a challenging economic environment. This stability allows MCU to continue focusing on its commitment to exceed service expectations while addressing the financial needs of its community. Overall, Members Credit Union significantly contributes to the local economy by providing essential financial services, fostering a supportive environment for its members, and enhancing financial literacy and stability within the region.
This information is meant to be a general summary of Members 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: $347,317
- Program Service Revenue: $4,430,896
- Gross Receipts: $4,778,213
Assets and Liabilities:
- Total Assets: $108,979,567
- Total Liabilities: $99,548,199
- Net Assets: $9,431,368
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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
$3,015,152
FEE INCOME
Revenue
$1,255,056
OTHER OPERATING INCOME
Revenue
$160,688
Organization Details
Founding Year
1954
Phone
(817) 641-4031Principal Officer
Paul T Elkins
Main Address
833 N NOLAN RIVER RD, CLEBURNE, TX, 76033
Website
www.memberscreditunion.comNTEE Category
Code: W60 - Public benefit
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