Greater Springfield Credit Union

Organization Overview

Greater Springfield Credit Union is located in Springfield, MA. 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 12/2021, Greater Springfield Credit Union employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Springfield 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, Greater Springfield Credit Union generated $6.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $4.3m during the year ending 12/2021. While expenses have increased by 4.3% 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

TO PROVIDE SERVICES FOR ITS MEMBERS IN WHICH THEY CAN CONDUCT THEIR FINANCIAL BUSINESS AND TO OFFER FAIR RATES FOR SAVINGS, LOANS AND OTHER SERVICES AS THEY BECOME AVAILABLE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

NOT REQUIRED.


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Board, Officers & Key Employees

Name (title)Compensation
Jennifer St Peter
CEO
$131,794
Thomas Gardiner
Chairperson
$0
Gary Rooke
Secretary
$0
Cornelius Sullivan
Vice Chairperson
$0
Kenneth Gustafson
Director
$0
David Cleavall
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Share One
Core Dp
$140,392
Elan Financial Services
Debit Cards
$124,515
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$4,953,643
Investment income $1,069,111
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $26,494
Net Gain/Loss on Asset Sales $706
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,141,527

Peer Organizations

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