Overview
What is Midland Municipal Employees Credit Union?
Midland Municipal Employees Credit Union is a state-chartered financial institution, located in Midland, Texas. The credit union is dedicated to serving its members, offering a wide range of consumer loans. As a nonprofit organization, it provides essential financial services to its members, ensuring they have access to credit when needed. With a small team of just two employees, Midland Municipal Employees Credit Union continues to support its members in their financial endeavors.
Is Midland Municipal Employees Credit Union legitimate?
Midland Municipal Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Midland Municipal 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: $78,870
Professional Fundraising Fees: $0
Other Salaries and Wages: $60,072
For more financial information, click here
What is the mission statement of Midland Municipal Employees Credit Union?
Midland Municipal Employees Credit Union, as a state-chartered credit union, is dedicated to serving its members by offering various financial services. Its mission is centered around providing consumer loans of various types. The credit union's primary objective is to cater to the financial needs of its members, ensuring they have access to the necessary financial resources. While the information provided is limited, it can be inferred that the credit union prioritizes member satisfaction and financial well-being.
Who is the CEO of Midland Municipal Employees Credit Union?
Michael Cota is the Vice Chairman of Midland Municipal Employees Credit Union. The CEO's salary of Midland Municipal Employees Credit Union is $78,870 and their total compensation is $78,870.
What is the revenue of Midland Municipal Employees Credit Union?
Midland Municipal Employees Credit Union's revenue in 2022 was $436,984.
Who are the executives of Midland Municipal Employees Credit Union and what are their salaries?
The average compensation at Midland Municipal Employees Credit Union during 2022 was $69,471. There are 2 employees and 6 volunteers at Midland Municipal Employees Credit Union.
Here are 7 key members and their salaries (Midland Municipal Employees Credit Union's CEO's salary is $78,870 and their total compensation is $78,870):
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- Compensation: $78,870
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- Other: $0
Where can I find the form 990 for Midland Municipal Employees Credit Union?
Midland Municipal Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midland Municipal Employees Credit Union
Midland Municipal Employees Credit Union, as a state-chartered credit union, is dedicated to serving its members by providing a variety of financial services. Its mission, in essence, is to extend consumer loans of all kinds to its members. This credit union operates with the goal of catering to the financial needs of its members, ensuring they have access to the necessary funds for various purposes. The focus of Midland Municipal Employees Credit Union lies in its ability to provide financial assistance to its members, thereby enhancing their financial well-being.
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Impact
October, 2024
Midland Municipal Employees Credit Union significantly impacts its community by offering a range of financial services tailored to meet the needs of its members. As a state chartered credit union, it provides essential consumer loans of all types, enabling individuals to access the funds necessary for personal expenses, home purchases, and other financial needs.
The organization plays a vital role in enhancing financial literacy and promoting responsible borrowing among its members, fostering a sense of community and support among local employees. By focusing on the financial well-being of its members, Midland Municipal Employees Credit Union contributes to the economic stability of Midland, TX, and empowers individuals to achieve their personal financial goals. Through its services, the credit union not only facilitates access to credit but also promotes a culture of savings and responsible financial management that benefits the entire community.
This information is meant to be a general summary of Midland Municipal 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: $235,771
- Program Service Revenue: $179,775
- Gross Receipts: $436,984
Assets and Liabilities:
- Total Assets: $19,028,962
- Total Liabilities: $16,684,275
- Net Assets: $2,344,687
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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
$179,741
Fee Income
Revenue
$34
Organization Details
Founding Year
1953
Phone
(432) 685-7933Principal Officer
Michael Cota
Main Address
PO Box 1152, Midland, TX, 79702
NTEE Category
Code: W60 - Public benefit
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