Overview
What is L A Electrical Workers Credit Union?
L.A. Electrical Workers Credit Union is a nonprofit financial institution located in Pasadena, California. With a membership base of 8,846 individuals as of December 31, 2022, the credit union focuses on promoting saving habits, honesty, integrity, and a business-oriented mindset among its members. The credit union manages a substantial amount of funds, including $45,013,831.33 in shares, $2,607,634.18 in share draft accounts, and $2,749,230.43 in IRA CD deposits. Its mission is to ensure member satisfaction by offering competitive dividend rates while maintaining a strong financial standing, with a staff of 12 dedicated employees.
Official website here: www.laewcu.com
Is L A Electrical Workers Credit Union legitimate?
L A Electrical Workers Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. L A Electrical Workers 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: $378,800
Professional Fundraising Fees: $0
Other Salaries and Wages: $111,568
For more financial information, click here
Official website here: www.laewcu.com
What is the mission statement of L A Electrical Workers Credit Union?
The L A Electrical Workers Credit Union's mission is centered around promoting values such as thrift, honesty, integrity, and a service-oriented spirit among its members. Their primary objective is to encourage financial savings among their members and strive to return the highest possible dividend rates. As of December 31, 2022, they had over 8,800 members and managed significant funds, including shares worth $45 million, share draft accounts, IRA deposit accounts, and IRA CD deposits.
Official website here: www.laewcu.com
Who is the CEO of L A Electrical Workers Credit Union?
Shawn Mcdonald is the CEO of L A Electrical Workers Credit Union The CEO's salary of L A Electrical Workers Credit Union is $155,088 and their total compensation is $226,091.
Official website here: www.laewcu.com
What is the revenue of L A Electrical Workers Credit Union?
L A Electrical Workers Credit Union's revenue in 2023 was $2,177,046.
Official website here: www.laewcu.com
Who are the executives of L A Electrical Workers Credit Union and what are their salaries?
The average compensation at L A Electrical Workers Credit Union during 2023 was $54,485. There are 9 employees and 9 volunteers at L A Electrical Workers Credit Union.
Here are 8 key members and their salaries (L A Electrical Workers Credit Union's CEO's salary is $155,088 and their total compensation is $226,091):
- Compensation: $155,088
- Related: $0
- Other: $71,003
- 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: $120,600
- Related: $0
- Other: $32,109
Official website here: www.laewcu.com
Where can I find the form 990 for L A Electrical Workers Credit Union?
L A Electrical Workers Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.laewcu.com
Learn more at the official website: www.laewcu.com
Mission Statement of L A Electrical Workers Credit Union
L.A. Electrical Workers Credit Union is dedicated to fostering thrift, honesty, integrity, sound business practices, and a spirit of service among its members. This mission is central to the organization's operations and is reflected in its activities. By encouraging savings and responsible financial management, the credit union aims to provide its members with the highest possible dividend rates. This not only benefits the individuals but also contributes to the financial stability and growth of the credit union as a whole. The members' trust and commitment to these values are essential to the success of L.A. Electrical Workers Credit Union, creating a thriving community of financially responsible individuals.
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Impact
October, 2024
L A Electrical Workers Credit Union plays a significant role in fostering financial well-being among its members by promoting thrift, honesty, integrity, and sound business practices. With a membership of 8,846 individuals as of December 31, 2022, the credit union has successfully cultivated a strong community focused on financial education and responsible saving.
The credit union manages a substantial amount of member assets, totaling over $45 million in shares, along with considerable funds in share draft accounts and IRAs. This robust financial pool allows L A Electrical Workers Credit Union to return competitive dividend rates to its members, enhancing their savings potential. The focus on benefiting the members rather than outside profit motives helps create a culture of trust and shared success.
Furthermore, the credit union's emphasis on service supports not only the financial health of its members but also strengthens community ties, demonstrating a commitment to uplifting individuals and fostering a spirit of community service in Pasadena, CA. Through its financial products and services, L A Electrical Workers Credit Union has a measurable impact on the lives of its members, promoting their economic stability and prosperity.
This information is meant to be a general summary of L A Electrical Workers 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 2023.
- Investment Income: $1,213,835
- Program Service Revenue: $935,297
- Gross Receipts: $2,177,046
Assets and Liabilities:
- Total Assets: $56,960,621
- Total Liabilities: $50,641,395
- Net Assets: $6,319,226
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INCOME
Revenue
$587,183
OTHER INCOME
Revenue
$348,114
Organization Details
Founding Year
1953
Principal Officer
Shawn Mcdonald
Website
www.laewcu.comNTEE Category
Code: W60 - Public benefit
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