Allcom Credit Union

Organization Overview

Allcom Credit Union is located in Worcester, MA. The organization was established in 1934. 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 12/2021, Allcom Credit Union employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Allcom 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 12/2021, Allcom Credit Union generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 2.1% per year over the past 7 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

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE CREDIT UNION ACCEPTS DEPOSITS AND GRANTS LOANS TO ITS MEMBERS. BENEFITS PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DIVIDENDS AND INTEREST PAID ON MEMBERS DEPOSITS.


GRANTING OF CREDIT (CONSUMER AND MORTGAGE LOAN PRODUCTS) TO MEMBERS.


OFFERING OF DEBIT AND CREDIT CARD SERVICES FOR MEMBER PURCHASES.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Nes Group Inc
Construction
$355,083
Synergent
It Services
$249,939
View All Vendors

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$1,659,640
Investment income $0
Tax Exempt Bond Proceeds $315,342
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 $2,507,400

Peer Organizations

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