Overview
What is Txdot Credit Union?
Txdot Credit Union, situated in Abilene, Texas, is a cooperative financial institution with a focus on providing credit union services. Specifically, they offer savings accounts and consumer loans to their members. As a credit union, they operate on a cooperative model, meaning their members collectively own and control the organization. The information also mentions that they pay dividends quarterly to their member share accounts, which adds to their appeal as a financial institution. With a small team of four employees, Txdot Credit Union serves its members in the Abilene area, offering essential financial services and dividend returns on savings.
Is Txdot Credit Union legitimate?
Txdot Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Txdot 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $191,673
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What is the mission statement of Txdot Credit Union?
Txdot Credit Union serves as a cooperative provider of credit union services, focusing on offering savings accounts and consumer loans to its members. Its primary mission is to facilitate these financial services, with member share accounts paying dividends quarterly. The credit union aims to support its members financially, providing them with various financial tools and resources.
Who is the CEO of Txdot Credit Union?
Toni Nelson is the President of Txdot Credit Union.
What is the revenue of Txdot Credit Union?
Txdot Credit Union's revenue in 2022 was $606,730.
Who are the executives of Txdot Credit Union and what are their salaries?
The average compensation at Txdot Credit Union during 2022 was $47,918. There are 4 employees at Txdot Credit Union.
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Where can I find the form 990 for Txdot Credit Union?
Txdot Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Txdot Credit Union
Txdot Credit Union, as a cooperative entity, is dedicated to providing a range of credit union services, including savings accounts and consumer loans. Their mission, in simple terms, is centered around offering financial solutions to its members. This cooperative institution sets aside a portion of its profits, known as dividends, which it pays out to its members' savings accounts on a quarterly basis. This practice not only encourages savings but also rewards the members' trust and patronage. Txdot Credit Union, through its cooperative nature, aims to provide accessible financial services, fostering financial stability and growth among its members.
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Impact
October, 2024
Txdot Credit Union plays a significant role in the Abilene, TX community by providing essential financial services that promote savings and responsible borrowing. As a cooperative provider of credit union services, Txdot offers members access to share accounts that yield quarterly dividends, encouraging savings and financial growth. The credit union also facilitates consumer loans, enabling individuals and families to make necessary purchases or investments that improve their quality of life. By prioritizing member benefits, Txdot Credit Union fosters a culture of financial empowerment and stability within the community, contributing positively to the overall economic well-being of its members.
This information is meant to be a general summary of Txdot 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: $17,294
- Program Service Revenue: $589,436
- Gross Receipts: $606,730
Assets and Liabilities:
- Total Assets: $17,636,980
- Total Liabilities: $15,105,150
- Net Assets: $2,531,830
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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
$555,589
MEMBER FEES
Revenue
$14,341
MISCELLANEOUS
Revenue
$19,506
Organization Details
Founding Year
1971
Phone
(325) 676-8925Principal Officer
Toni Nelson
Main Address
4174 OLD ANSON ROAD, ABILENE, TX, 79601
NTEE Category
Code: W60 - Public benefit
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