Overview
What is Forum Credit Union?
Forum Credit Union is a 501(C)(14) exempt organization based in Indianapolis, Indiana. Operating with the cooperative nature of a credit union, it offers competitive lending rates on mortgage loans, home equity loans, and personal loans for its members. Forum has originated over $1 billion in loans this year, collaborating with organizations like the FHA to help consumers achieve homeownership. Their mission is to serve as an innovative and dynamic financial services organization, providing valuable products and services to members. With a collective goal of promoting thrift and offering affordable credit, Forum employs 459 individuals to achieve its objectives.
Official website here: www.forumcu.com
Is Forum Credit Union legitimate?
Forum Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Forum 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 not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $2,834,793
Professional Fundraising Fees: $0
Other Salaries and Wages: $24,692,215
For more financial information, click here
Official website here: www.forumcu.com
What is the mission statement of Forum Credit Union?
Forum Credit Union functions as a 501(C)(14) exempt organization operated for mutual purposes, prioritizing the provision of value to its members. Its mission encompasses promoting thrift among members and offering affordable credit. The organization is dedicated to being innovative, dynamic, and responsive in delivering financial services. Through its operations, Forum Credit Union strives to offer competitive lending rates for mortgage loans, home equity loans, and personal loans. Additionally, the credit union collaborates with the Federal Housing Administration and other home ownership organizations to help members achieve the dream of owning a home. This year, Forum Credit Union originated over $1 billion in loans to meet the lending needs of its members.
Official website here: www.forumcu.com
Who is the CEO of Forum Credit Union?
Douglas True is the Chief Executive Officer of Forum Credit Union. The CEO's salary of Forum Credit Union is $633,726 and their total compensation is $700,265.
Official website here: www.forumcu.com
What is the revenue of Forum Credit Union?
Who are the executives of Forum Credit Union and what are their salaries?
The average compensation at Forum Credit Union during 2022 was $59,972. There are 459 employees and 12 volunteers at Forum Credit Union.
Here are 19 key members and their salaries (Forum Credit Union's CEO's salary is $633,726 and their total compensation is $700,265):
- Jeffry Welch (Chief Financial Officer)
- Douglas True (Chief Executive Officer)
- Benjamen Banks (Financial Advisor- Pcg)
- Charles Andrew Mattingly (Chief Operating Officer)
- Jennifer Budreau (Chief Operating Officer)
- Cameron Piercefield (Chief Technology And Risk Officer)
- Michelle Adrian (Mortgage Originator)
- Tammy Marrs (Financial Advisor)
- Jim Carr (Senior Vice President - Commercial & Investment Services)
- Andrew Spirrison (Senior Vice President - Member Experience)
- Rick Rambo (Treasurer) [Trustee/Director]
- Chris Hagenow (Secretary) [Trustee/Director]
- Kelly Wilson (Director)
- John Gallina (Director)
- Kevin Hunt (Chairman) [Trustee/Director]
- Lori Winkler (Director)
- Tracy Mills (Vice Chairman) [Trustee/Director]
- Jodee Curtis (Director)
- Donna Wilkinson (Director)
Official website here: www.forumcu.com
Where can I find the form 990 for Forum Credit Union?
The Forum Credit Union’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.forumcu.com
Learn more at the official website: www.forumcu.com
Mission Statement of Forum Credit Union
Forum Credit Union, a dynamic and innovative financial services organization, operates on a mission to serve its members with value-added products and services. This 501(C)(14) exempt organization, run for mutual purposes and without profit, is dedicated to promoting thrift among its members and providing affordable credit.
At the heart of Forum Credit Union's mission lies the provision of low-cost credit for its members. The cooperative nature of the credit union allows for market lending rates on mortgage loans, home equity loans, and personal loans, making borrowing more accessible and affordable for Forum's members. The organization closely collaborates with the Federal Housing Administration (FHA) and other home ownership organizations, extending a helping hand to consumers in realizing the dream of owning a home.
In the current fiscal year, Forum Credit Union's lending initiatives have led to the origination of over one billion dollars in loans, showcasing its commitment to meeting the diverse lending needs of its members. This impressive achievement underscores the organization's unwavering dedication to delivering value and financial opportunities to its members.
Impact
This information is meant to be a general summary of Forum Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Forum Credit Union's impact is significant in providing low-cost credit to its members, facilitating access to affordable financial services. As a cooperative financial institution, Forum Credit Union operates without profit motive, focusing on promoting thrift and offering advantageous lending rates for mortgages, home equity loans, and personal loans. By originating over $1 billion in loans each year, Forum Credit Union actively contributes to helping consumers achieve their homeownership aspirations, working closely with organizations like the FHA to support this goal. The organization's mission to be innovative, dynamic, and responsive underscores its commitment to creating value for its members through its financial products and services.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST AND FEES ON LOANS
Revenue
$70,149,649
SERVICE FEE ON SHARE ACCOUNTS
Revenue
$4,377,726
DEBIT CARD AND CREDIT CARD FEES
Revenue
$9,909,403
MORTGAGE BANKING
Revenue
$4,703,901
INSURANCE
Revenue
$1,224,476
Organization Details
Founding Year
1941
Phone
(317) 558-6000
Principal Officer
Douglas True
Main Address
PO BOX 50738, INDIANAPOLIS, IN, 46250
Website
www.forumcu.com
NTEE Category
Code: W61 - Public benefit
If you are a representative of Forum Credit Union and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.