Overview
What is Loco Credit Union?
Loco Credit Union is a nonprofit financial institution situated in Alamogordo, New Mexico. With a modest workforce of 23 employees, they offer a range of banking services to their members. Their primary mission is to provide deposit and loan products and services, ensuring competitive rates for their members. The credit union is committed to serving its community, offering various banking solutions to meet the financial needs of its members.
Is Loco Credit Union legitimate?
Loco Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Loco 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: $234,799
Professional Fundraising Fees: $0
Other Salaries and Wages: $795,651
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What is the mission statement of Loco Credit Union?
Loco Credit Union's primary mission is to offer a range of deposit and loan products and services to its membership base. This mission is executed by providing competitive loan rates to its members, thereby ensuring they have access to necessary banking services. The credit union's activities are centered around serving its members effectively, aiming to meet their financial needs in a comprehensive manner.
Who is the CEO of Loco Credit Union?
Louanne Garcia is the Cfo of Loco Credit Union. The CEO's salary of Loco Credit Union is $135,500 and their total compensation is $135,500.
What is the revenue of Loco Credit Union?
Loco Credit Union's revenue in 2022 was $4,130,099.
Who are the executives of Loco Credit Union and what are their salaries?
The average compensation at Loco Credit Union during 2022 was $44,802. There are 23 employees and 7 volunteers at Loco Credit Union.
Here are 9 key members and their salaries (Loco Credit Union's CEO's salary is $135,500 and their total compensation is $135,500):
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- Compensation: $135,500
- Related: $0
- Other: $0
- Compensation: $99,299
- Related: $0
- Other: $0
Where can I find the form 990 for Loco Credit Union?
Loco Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Loco Credit Union
Loco Credit Union, as outlined in the provided information, is dedicated to providing deposit and loan products and services to its members. This mission statement emphasizes the credit union's role in serving its members financially, ensuring they have access to competitive interest rates for various loans. By offering these banking services, Loco Credit Union aims to contribute positively to its members' financial well-being.
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Impact
October, 2024
Loco Credit Union significantly impacts the community in Alamogordo, NM, by offering essential banking services and financial support to its members. By providing a range of deposit and loan products at competitive rates, it empowers individuals and families to achieve their financial goals. This includes access to affordable loans, which can help members manage expenses, invest in opportunities, and improve their financial security.
Through its mission of providing comprehensive financial services, Loco Credit Union fosters economic growth and stability within the region. It supports members' needs while also contributing to the overall public benefit by promoting responsible borrowing and saving practices. By prioritizing member service, Loco Credit Union plays a vital role in enhancing the quality of life for its community.
This information is meant to be a general summary of Loco 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: $387,722
- Program Service Revenue: $2,718,184
- Gross Receipts: $4,130,099
Assets and Liabilities:
- Total Assets: $67,045,402
- Total Liabilities: $57,664,365
- Net Assets: $9,381,037
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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
$2,718,184
Organization Details
Founding Year
1953
Phone
(575) 437-3110Principal Officer
Louanne Garcia
Main Address
PO BOX 1743, ALAMOGORDO, NM, 88311
NTEE Category
Code: W60 - Public benefit
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