Overview
What is Highway Employees Credit Union?
Highway Employees Credit Union is a cooperative financial institution, primarily serving the employees and families of the Texas Department of Transportation. Established as a credit union, its mission is to foster financial growth by promoting savings and offering competitive loan rates for beneficial and productive purposes. As of December 31, 2022, the credit union boasts 435 member-owned accounts. Encouraging its members to cultivate a savings habit, Highway Employees Credit Union aims to contribute positively to its members' financial well-being. With just two employees, the credit union maintains its operations at a Tyler, Texas, post office box.
Is Highway Employees Credit Union legitimate?
Highway Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Highway Employees 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: $24,675
Professional Fundraising Fees: $0
Other Salaries and Wages: $24,315
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What is the mission statement of Highway Employees Credit Union?
The Highway Employees Credit Union serves as a cooperative thrift organization, with its primary mission to enhance the financial well-being of its members. It achieves this by offering competitive savings account rates and provident loans. The credit union aims to foster savings habits among its members, as evidenced by its 435 member-owner accounts as of December 31, 2022. The organization operates under the principle of a credit union, which is to build members' financial worth through collective savings and lending practices.
Who is the CEO of Highway Employees Credit Union?
Larry West is the Treasurer of Highway Employees Credit Union.
What is the revenue of Highway Employees Credit Union?
Highway Employees Credit Union's revenue in 2022 was $92,552.
Who are the executives of Highway Employees Credit Union and what are their salaries?
The average compensation at Highway Employees Credit Union during 2022 was $24,495. There are 2 employees at Highway Employees Credit Union.
Here are 6 key members and their salaries:
- Compensation: $24,675
- 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 Highway Employees Credit Union?
Highway Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Highway Employees Credit Union
Highway Employees Credit Union, as a cooperative thrift organization, is committed to enhancing the financial well-being of its members. This is accomplished through a systemic approach to savings and the provision of loans for purposes that are provident and productive. The credit union's mission is to build the worth of its members by promoting savings habits and offering competitive interest rates on loans. As of December 31, 2022, there were 435 member-owner accounts, reflecting the credit union's commitment to its members. The credit union encourages its members to cultivate a savings habit, recognizing the importance of financial security for individuals and families.
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Impact
October, 2024
Highway Employees Credit Union significantly enhances the financial well-being of employees and their families associated with the Texas Department of Transportation. By offering competitive rates on loans and savings accounts, the credit union promotes a culture of saving and financial responsibility among its members. As of December 31, 2022, there were 435 member-owner accounts, illustrating the trust and reliance that members have on this cooperative institution.
The credit union's mission focuses on building members' wealth through systematic savings, which fosters a strong financial foundation for families. By providing accessible loan options for provident and productive purposes, Highway Employees Credit Union plays a vital role in empowering its members to achieve their financial goals, whether that be purchasing a home, financing education, or managing unexpected expenses. This commitment not only benefits individual members but also contributes to the broader economic health of the Tyler, TX community by encouraging responsible financial practices and sustainable growth.
This information is meant to be a general summary of Highway Employees 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: $1,819
- Program Service Revenue: $88,490
- Gross Receipts: $92,552
Assets and Liabilities:
- Total Assets: $1,909,568
- Total Liabilities: $1,447,349
- Net Assets: $462,219
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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
$86,040
MEMBER LATE FEE/CHARGES
Revenue
$2,450
Organization Details
Founding Year
1959
Phone
(903) 593-8987Principal Officer
Larry West
Main Address
PO Box 4571, Tyler, TX, 75712
NTEE Category
Code: W60 - Public benefit
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