Rockford Municipal Employees Credit Union

Organization Overview

Rockford Municipal Employees Credit Union is located in Rockford, IL. The organization was established in 1942. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2020, Rockford Municipal Employees Credit Union employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockford Municipal Employees Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2020, Rockford Municipal Employees Credit Union generated $693.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $587.2k during the year ending 12/2020. While expenses have increased by 1.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVINGS ACCOUNTS AND OTHER FINANCIAL INSTITUTION SERVICES IN A FRIENDLY PROFESSIONAL MANNER.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RECEIVED DEPOSITS ON SAVINGS FROM 2355 MEMBERS.


PROVIDED CONSUMER LOANS TO 978 MEMBERS


PROVIDED HOME EQUITY LINE OF CREDIT TO 42 MEMBERS


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Sara Sheahan
President
$68,884
Charles Doyle
Vice Chairman
$0
Wally Parson
Board Chairman
$0
Linda Estep
Treasurer
$0
David Said
Board Member
$0
Shirley Foltz
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$535,821
Investment income $157,829
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $693,650

Peer Organizations

Organization NameAssets
Ih Mississippi Valley Credit Union
Moline, IL
$105,810,576
Commonwealth Credit Union
Frankfort, KY
$88,350,902
Department Of Financial Institution Division Of Credit Unions In Ind
Columbus, IN
$88,438,069
Forum Credit Union
Indianapolis, IN
$93,129,055
Scott Credit Union
Edwardsville, IL
$74,654,217
Deere Employees Credit Union
Moline, IL
$82,112,773
Credit Union 1
Rantoul, IL
$72,991,911
Interra Credit Union
Goshen, IN
$68,430,398
Park Community Credit Union Inc
Louisville, KY
$53,014,034
Beacon Credit Union
Wabash, IN
$47,143,377
Vibrant Credit Union
Moline, IL
$50,336,419
Indiana University Credit Union
Bloomington, IN
$48,794,263

Create an account to unlock the data you need.

or