Overview
What is Preferred Credit Union?
Preferred Credit Union is a financial institution based in Grand Rapids, Michigan, with an address at 3767 Sparks Drive SE, ZIP code 49546. Serving a membership of over 24,000 individuals as of December 31, 2022, they offer a variety of deposit account types such as savings, checking, certificates, and more. The Credit Union's primary mission is to deliver financial services and products to its members. With a workforce of 91 employees, they remain committed to meeting the financial needs of their membership.
Official website here: www.preferredcu.org
Is Preferred Credit Union legitimate?
Preferred Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Preferred 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: $535,259
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,375,592
For more financial information, click here
Official website here: www.preferredcu.org
What is the mission statement of Preferred Credit Union?
Preferred Credit Union is dedicated to delivering financial services and products to its membership base. The mission of the credit union revolves around catering to the financial needs of its members. With various deposit account offerings such as savings, checking, certificates, and more, the credit union ensures it provides a range of options to its members. As of December 31, 2022, the credit union had a membership count of 24,409 individuals. Overall, Preferred Credit Union focuses on providing financial solutions to support the financial well-being of its members.
Official website here: www.preferredcu.org
Who is the CEO of Preferred Credit Union?
John Yeomans is the Ceo of Preferred Credit Union. The CEO's salary of Preferred Credit Union is $269,943 and their total compensation is $281,996.
Official website here: www.preferredcu.org
What is the revenue of Preferred Credit Union?
Preferred Credit Union's revenue in 2022 was $13,405,718.
Official website here: www.preferredcu.org
Who are the executives of Preferred Credit Union and what are their salaries?
The average compensation at Preferred Credit Union during 2022 was $42,976. There are 91 employees and 7 volunteers at Preferred Credit Union.
Here are 11 key members and their salaries (Preferred Credit Union's CEO's salary is $269,943 and their total compensation is $281,996):
- John Yeomans (Ceo)
- Cynthia Mccombs (Hr Director)
- Bev Vander Well (Cfo)
- Russell Herman (Chairperson) [Trustee/Director]
- Yvonne Alles (Vice Chair) [Trustee/Director]
- Gaylen Demarest (Treasurer) [Trustee/Director]
- Frederick Bartling (Secretary) [Trustee/Director]
- Thomas Powers (Director)
- Vicki Brown (Director)
- Fred Gradisher (Director)
- Robert Shane (Coo)
Official website here: www.preferredcu.org
Where can I find the form 990 for Preferred Credit Union?
The Preferred Credit Union’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.preferredcu.org
Learn more at the official website: www.preferredcu.org
Mission Statement of Preferred Credit Union
Preferred Credit Union, with its mission, focuses on delivering financial services and products to its valued members. This member-centric organization takes pride in catering to diverse financial needs, offering various deposit account types such as savings, checking, certificates, and more. At the end of 2022, the Credit Union boasted a membership base of 24,409 individuals.
By providing financial services and products, Preferred Credit Union empowers its members to manage their finances effectively and secure their financial future. Through its dedication to member satisfaction, the Credit Union has earned a reputation for reliability and trust. The range of offerings not only meets the basic banking needs of its members but also enables them to save for future goals or invest in long-term financial instruments.
Preferred Credit Union's commitment to its members extends beyond the provision of financial services. By offering a diverse range of account types, the Credit Union ensures that it caters to the unique financial situations and goals of each member. This member-focused approach fosters a strong sense of community and loyalty among its members, making Preferred Credit Union an essential financial partner for thousands of individuals.
Impact
This information is meant to be a general summary of Preferred Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Preferred Credit Union's impact lies in providing essential financial services and products to its members in Grand Rapids, Michigan. With a focus on serving the community through offerings such as savings, checking accounts, certificates, and more, the Credit Union serves a significant number of members, totaling 24,409 as of 12/31/2022. By empowering individuals with financial tools and resources, Preferred Credit Union plays a crucial role in enhancing the financial well-being and stability of its members.
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.
Fees and Charges
Revenue
$2,639,975
Insurance Revenue
Revenue
$31,016
Interchange Income
Revenue
$1,990,426
Interest on Loans
Revenue
$6,721,047
Non-Member ATM Fees
Revenue
$29,421
Organization Details
Founding Year
1968
Phone
(616) 942-9630
Principal Officer
John Yeomans
Main Address
3767 Sparks Drive SE, Grand Rapids, MI, 49546
Website
www.preferredcu.org
NTEE Category
Code: W60 - Public benefit
If you are a representative of Preferred 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.