Overview
What is Jafari No-Interest Credit Union?
Jafari No-Interest Credit Union is a state-chartered financial institution based in Houston, Texas, specifically at 2323 S Voss Rd Suite 370. Operating as a nonprofit organization, it offers federally insured Savings accounts to its members. The primary mission of Jafari No-Interest Credit Union is to provide these savings services, along with offering no-interest loans to its members. Established with a commitment to financial wellness, this credit union serves its community by facilitating savings and lending opportunities for its members.
Official website here: www.jafaricu.com
Is Jafari No-Interest Credit Union legitimate?
Jafari No-Interest Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Jafari No-Interest 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
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Official website here: www.jafaricu.com
What is the mission statement of Jafari No-Interest Credit Union?
Jafari No-Interest Credit Union serves as a state-chartered institution, offering federally insured savings accounts to its members. Its primary mission is to provide these members with access to no-interest loans. The credit union aims to assist its members financially by offering savings accounts with a total deposit of $1,504,318 as of the provided data. This organization is committed to supporting its members' financial needs, offering them the opportunity to borrow without incurring interest charges.
Official website here: www.jafaricu.com
Who is the CEO of Jafari No-Interest Credit Union?
Imran Dhanji is the Director of Jafari No-Interest Credit Union.
Official website here: www.jafaricu.com
What is the revenue of Jafari No-Interest Credit Union?
Jafari No-Interest Credit Union's revenue in 2022 was $70,573.
Official website here: www.jafaricu.com
Who are the executives of Jafari No-Interest Credit Union and what are their salaries?
There 14 volunteers at Jafari No-Interest Credit Union.
Here are 7 key members and their salaries:
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Official website here: www.jafaricu.com
Where can I find the form 990 for Jafari No-Interest Credit Union?
Jafari No-Interest Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.jafaricu.com
Learn more at the official website: www.jafaricu.com
Mission Statement of Jafari No-Interest Credit Union
Jafari No-Interest Credit Union, as a state-chartered credit union, is committed to a unique mission. This mission revolves around providing its members with Savings accounts and offering them loans without charging interest. By offering these services, the credit union aims to empower its members financially, enabling them to save and borrow money under favorable terms. With a total deposit of $1,504,318 from 259 member accounts, Jafari No-Interest Credit Union demonstrates its capacity to serve its members effectively and contribute to their financial well-being.
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Impact
October, 2024
Jafari No-Interest Credit Union significantly impacts its community by offering members access to federally insured savings accounts and providing no-interest loans. With a total of 259 member accounts and deposits amounting to $1,504,318, it promotes financial stability and empowerment among its members in Houston, Texas. By eliminating interest on loans, the credit union enables individuals to manage their finances more sustainably, fostering economic resilience and supporting members in achieving their financial goals. Its mission to provide accessible financial services enhances the overall public benefit, creating a positive ripple effect within the community.
This information is meant to be a general summary of Jafari No-Interest 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: $13,374
- Program Service Revenue: $45,199
- Gross Receipts: $70,573
Assets and Liabilities:
- Total Assets: $1,912,556
- Total Liabilities: $1,504,318
- Net Assets: $408,238
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Voluntary Fees
Revenue
$29,905
Account Maintenance Fee
Revenue
$14,169
Loan Application Fees
Revenue
$1,125
Organization Details
Founding Year
2016
Phone
(713) 331-1072Principal Officer
Imran Dhanji
Main Address
2323 S Voss Rd Suite 370, Houston, TX, 77057
Website
www.jafaricu.comNTEE Category
Code: W60 - Public benefit
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