Overview
What is Commonwealth Central Credit Union?
Commonwealth Central Credit Union is a California-based financial institution, specifically located at 5890 Silver Creek Valley Road in San Jose (CA 95138). The credit union aims to encourage savings among its members and acts as a lending source for them. To accomplish this, they provide various services including consumer loans, share accounts, share certificates, and other activities permitted under the Exempt Function. The mission of Commonwealth Central Credit Union is to foster thrift and offer credit to its members. The organization employs a team of 114 individuals to help facilitate these financial services and support their members.
Official website here: www.wealthcu.org
What are the reviews and ratings of this charity?
Commonwealth Central Credit Union is currently not rated by Charity Navigator, primarily due to its non-501(c)(3) status, which exempts it from specific nonprofit evaluations. This absence of a rating should not be interpreted as either positive or negative, but rather reflects the organization's current ineligibility for a formal assessment by Charity Navigator, which focuses on 501(c)(3) organizations known for their tax-exempt status and capability to receive tax-deductible contributions.
Charity Navigator lacks detailed financial information on Commonwealth Central Credit Union, such as revenue, expenses, and leadership compensation. The historical data consideration highlights that, in the past, evaluations mainly focused on Accountability and Finance. However, more comprehensive factors such as Impact & Measurement, Culture & Community, and Leadership & Adaptability are not part of the current review due to the organization's classification.
There are no user reviews available from GreatNonprofits. This means that community insights and individual feedback, which often provide a qualitative perspective on customer satisfaction and community interaction, are absent at this time. This lack of reviews means public sentiment towards the credit union is not documented through this platform.
This AI summary has been generated from information found on Charity Navigator.
Is Commonwealth Central Credit Union legitimate?
Commonwealth Central Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Commonwealth Central 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: $2,617,366
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,739,624
For more financial information, click here
Official website here: www.wealthcu.org
What is the mission statement of Commonwealth Central Credit Union?
The Commonwealth Central Credit Union operates with the mission to encourage savings among its members and serve as a lending source for them. This financial institution prioritizes the promotion of thrift and the creation of credit opportunities for its member base. The credit union offers various financial services including consumer loans, share and share draft accounts, share certificates, and other exempt function activities to its members.
Official website here: www.wealthcu.org
Who is the CEO of Commonwealth Central Credit Union?
Viktoria Earle is the Vice-Chairman of Commonwealth Central Credit Union. The CEO's salary of Commonwealth Central Credit Union is $394,168 and their total compensation is $432,385.
Official website here: www.wealthcu.org
What is the revenue of Commonwealth Central Credit Union?
Commonwealth Central Credit Union's revenue in 2022 was $26,354,115.
Official website here: www.wealthcu.org
Who are the executives of Commonwealth Central Credit Union and what are their salaries?
The average compensation at Commonwealth Central Credit Union during 2022 was $82,079. There are 114 employees and 10 volunteers at Commonwealth Central Credit Union.
Here are 21 key members and their salaries (Commonwealth Central Credit Union's CEO's salary is $394,168 and their total compensation is $432,385):
- Compensation: $2,496
- Related: $0
- Other: $0
- Compensation: $9,456
- Related: $0
- Other: $0
- Compensation: $7,967
- Related: $0
- Other: $0
- Compensation: $2,976
- Related: $0
- Other: $0
- Compensation: $1,032
- Related: $0
- Other: $0
- Compensation: $5,050
- Related: $0
- Other: $0
- Compensation: $1,977
- Related: $0
- Other: $0
- Compensation: $424,993
- Related: $0
- Other: $40,797
- Compensation: $394,168
- Related: $0
- Other: $38,217
- Compensation: $285,086
- Related: $0
- Other: $14,128
- Compensation: $237,389
- Related: $0
- Other: $24,786
- Compensation: $208,315
- Related: $0
- Other: $26,310
- Compensation: $88,864
- Related: $0
- Other: $286
- Compensation: $298,264
- Related: $0
- Other: $22,606
- Compensation: $221,455
- Related: $0
- Other: $27,102
- Compensation: $213,434
- Related: $0
- Other: $20,212
- Compensation: $197,573
- Related: $0
- Other: $44,383
- Compensation: $160,850
- Related: $0
- Other: $23,446
- Compensation: $124,492
- Related: $0
- Other: $14,459
- Compensation: $133,894
- Related: $0
- Other: $22,822
- Compensation: $126,075
- Related: $0
- Other: $33,823
Official website here: www.wealthcu.org
Where can I find the form 990 for Commonwealth Central Credit Union?
Commonwealth Central Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wealthcu.org
Learn more at the official website: www.wealthcu.org
Mission Statement of Commonwealth Central Credit Union
Commonwealth Central Credit Union, with its mission to promote thrift amongst its members and create a source of credit for them, plays a crucial role in the financial lives of its members. The credit union encourages its members to save and offers various financial products and services that facilitate this goal.
In practice, the credit union provides several types of loans to its members, including consumer loans that cater to diverse needs. In addition to this, it offers share and share draft accounts, allowing members to manage their finances with ease. The credit union also provides share certificates, which serve as a savings tool with a fixed interest rate. These offerings make Commonwealth Central Credit Union an essential financial partner for its members.
By fostering a saving culture and offering accessible credit, Commonwealth Central Credit Union empowers its members to take control of their financial futures. This mission is instrumental in building financial stability and resilience within the community it serves.
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Impact
October, 2024
Commonwealth Central Credit Union plays a vital role in enhancing financial wellness within the San Jose community. By promoting thrift among its members, the credit union encourages saving habits that empower individuals to secure their financial futures. The services provided, such as consumer loans, share and share draft accounts, and share certificates, create accessible financial resources that support members in their pursuit of economic stability and growth.
Through these services, Commonwealth Central Credit Union facilitates a reliable source of credit, allowing members to obtain necessary funds for various life needs, from education to homeownership. This not only strengthens individual financial health but also contributes to the overall economic vitality of the community. By prioritizing the needs of its members, the credit union fosters a sense of solidarity and shared purpose, leading to a more resilient and financially inclusive environment for all.
This information is meant to be a general summary of Commonwealth Central 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: $3,066,278
- Program Service Revenue: $22,619,146
- Gross Receipts: $26,357,314
Assets and Liabilities:
- Total Assets: $672,566,612
- Total Liabilities: $610,334,033
- Net Assets: $62,232,579
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS TO MEMBERS
Revenue
$18,132,347
FEES AND CHARGES
Revenue
$2,126,071
INTERCHANGE INCOME
Revenue
$1,948,180
INVESTMENT SERVICES COMMISSION
Revenue
$220,273
INSURANCE AND WEALTH PROTECTION
Revenue
$192,275
Organization Details
Founding Year
1958
Phone
(408) 531-3100Principal Officer
Viktoria Earle
Main Address
5890 SILVER CREEK VALLEY RD, SAN JOSE, CA, 95138
Website
www.wealthcu.orgNTEE Category
Code: W60 - Public benefit
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