Overview
What is National Oilwell Varco Employees Credit Union?
National Oilwell Varco Employees Credit Union is a cooperative financial institution based in Houston, Texas, with an address at 9724 Beechnut St, ZIP 77036. Established under the Texas Credit Union Act, its primary purpose is to encourage financial thrift among its members and offer credit at reasonable rates. As a voluntary organization, it provides credit union financial services, specifically focusing on share (savings) accounts and consumer loans. The Credit Union caters to the employees of National Oilwell Varco, Inc., their family members, and retirees, both living and working in the United States and Canada. With a mission to promote thrift and financial stability, the Credit Union had around 1,865 member-owned savings accounts as of April 30, 2020, offering dividends (interest) at competitive quarterly rates. The Credit Union operated under the National Credit Union Administration Insurance Fund, ensuring the security of its members' savings.
Is National Oilwell Varco Employees Credit Union legitimate?
National Oilwell Varco Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. National Oilwell Varco 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of National Oilwell Varco Employees Credit Union?
National Oilwell Varco Employees Credit Union was established as a voluntary cooperative thrift institution, primarily focused on promoting thrift among its members and offering credit at reasonable rates. Its mission was to function as a provider of financial services to the employees of National Oilwell Varco, Inc., their family members, and retirees, residing in the United States and Canada. The Credit Union was a member of the National Credit Union Administration Insurance Fund and operated under the Texas Credit Union Act. It offered two primary services: share (savings) accounts and consumer loans. The credit union encouraged savings through its share accounts, which earned dividends at competitive rates, thereby promoting financial thrift. As of April 30, 2020, the Credit Union had around 1,865 member-owned share accounts.
Who is the CEO of National Oilwell Varco Employees Credit Union?
Stacey Adams is the President Manager of National Oilwell Varco Employees Credit Union.
What is the revenue of National Oilwell Varco Employees Credit Union?
National Oilwell Varco Employees Credit Union's revenue in 2020 was $0.
Who are the executives of National Oilwell Varco Employees Credit Union and what are their salaries?
There are 4 employees and 7 volunteers at National Oilwell Varco Employees Credit Union.
Here are 8 key members and their salaries:
- Compensation: $87,859
- Related: $0
- Other: $1,551
- 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
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for National Oilwell Varco Employees Credit Union?
National Oilwell Varco Employees Credit Union's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of National Oilwell Varco Employees Credit Union
National Oilwell Varco Employees Credit Union, as a voluntary cooperative thrift institution, was established with the primary mission of encouraging financial savings among its members and providing them with credit at reasonable rates. This nonprofit organization operated under the provisions of the Texas Credit Union Act, aiming to serve the financial needs of its members effectively. Specifically, its mission was to provide credit union financial services, focusing on two main areas: share (savings) accounts and consumer loans. The savings accounts offered by the Credit Union were designed to promote financial thrift among its members, offering competitive dividends (interest) quarterly to its approximately 1,865 member-owned accounts as of April 30, 2020. This mission, in essence, was to empower its members to save and access credit on favorable terms.
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Impact
October, 2024
National Oilwell Varco Employees Credit Union plays a significant role in promoting financial well-being among its members, primarily employees of National Oilwell Varco, Inc., their families, and retirees. By encouraging thrift and providing access to reasonably priced credit, the credit union fosters a community-oriented financial environment.
With approximately 1,865 member-owned share accounts as of April 30, 2020, the credit union offers savings accounts that allow members to earn competitive dividends quarterly, thereby enhancing their savings efforts. This focus on member advantages ensures that individuals of all ages can benefit from financial services tailored to their needs.
Additionally, through the provision of consumer loans, the credit union supports members in achieving their financial goals, whether it be purchasing a vehicle, funding education, or managing unexpected expenses. By operating under the Texas Credit Union Act and under the supervision of the National Credit Union Administration Insurance Fund, the institution maintains a commitment to responsible lending and financial security.
Overall, the National Oilwell Varco Employees Credit Union significantly impacts its members by promoting financial literacy, fostering cooperation, and providing essential financial services within a supportive community framework.
This information is meant to be a general summary of National Oilwell Varco 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 2020.
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1953
Phone
(713) 244-1164Principal Officer
Stacey Adams
Main Address
9724 Beechnut St, Houston, TX, 77036
NTEE Category
Code: W60 - Public benefit
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