Members Credit Union

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 566043259 ✦ Winston salem, NC ✦ Designated as a 501(c)(14)

Overview

What is Members Credit Union?

Members Credit Union is a Winston Salem, North Carolina-based financial cooperative with a membership of 50,873 and 134 employees. Their mission is to provide a comprehensive suite of financial products to their members, acting as their primary financial institution. The credit union offers various loan options, including consumer and mortgage loans, and services such as checking and savings accounts. Members also have access to financial planning and remote account management. Additionally, they participate in the Co-Op Shared Branching network, enabling members to perform transactions outside of their local branch. As a member-owned organization, Members Credit Union aims to contribute to the well-being of its members by offering reasonable and diverse financial solutions.


Official website here: www.memcu.com

Is Members Credit Union legitimate?

Members Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Members 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: $722,433
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,801,647

For more financial information, click here


Official website here: www.memcu.com

What is the mission statement of Members Credit Union?

Members Credit Union, as a member-owned cooperative, prioritizes the well-being of its members by offering them a diverse range of financial products and services. The primary mission is to provide reasonable and accessible banking solutions to enhance their financial lives. The credit union provides various loan options and services to all members, including checking and savings accounts, consumer loans, and mortgage loans through Highland Residential Mortgage. Additionally, members have the benefit of financial planning assistance and remote account access. The Family Security Plan ensures financial security and protection for the members. Through the Co-Op Shared Branching network, members can perform transactions even when they are away from their home branch.


Official website here: www.memcu.com

Who is the CEO of Members Credit Union?

Robert C Donley is the President/Ceo of Members Credit Union. The CEO's salary of Members Credit Union is $495,670 and their total compensation is $495,670.


Official website here: www.memcu.com

What is the revenue of Members Credit Union?

Members Credit Union's revenue in 2022 was $22,460,729.


Official website here: www.memcu.com

Who are the executives of Members Credit Union and what are their salaries?

The average compensation at Members Credit Union during 2022 was $41,224. There are 134 employees and 11 volunteers at Members Credit Union.

Here are 16 key members and their salaries (Members Credit Union's CEO's salary is $495,670 and their total compensation is $495,670):

    Robert C Donley (President/Ceo) [Trustee/Director]
  • Compensation: $495,670
  • Related: $0
  • Other: $0

    • Cindy J Stiff (Cfo & Treasurer) [Trustee/Director]
  • Compensation: $157,365
  • Related: $0
  • Other: $0

    • Tim Mullen (Svp Of Lending And Operations)
  • Compensation: $155,043
  • Related: $0
  • Other: $0

    • Jennifer Siglain (Svp Of Member Experience & Compliance)
  • Compensation: $130,443
  • Related: $0
  • Other: $0

    • Bridget Berry (Director Of Lending)
  • Compensation: $109,261
  • Related: $0
  • Other: $0

    • Matthew Baldwin (Director Of Information Technology)
  • Compensation: $108,803
  • Related: $0
  • Other: $0

    • Melanie H Huffman (Executive Secretary)
  • Compensation: $69,398
  • Related: $0
  • Other: $0

    • Delphine Dennis (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Jack V Braswell Jr (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Jerry P Church (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Karen Keller (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • William A Tittsworth (Board Chairman) [Trustee/Director]
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Richard L Trotter (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Durham C White Jr (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Jeff Seaford (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Thomas Rhoney (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


  • Official website here: www.memcu.com

    Where can I find the form 990 for Members Credit Union?

    The Members Credit Union’s most recent form 990 was submitted in 2022 and can be accessed here


    Official website here: www.memcu.com

    Learn more at the official website: www.memcu.com

    Mission Statement of Members Credit Union

    Members Credit Union, a member-owned cooperative, is dedicated to enhancing the financial wellbeing of its members. By providing a comprehensive range of diverse products and services, Members Credit Union aims to become the primary financial institution for each member. With a mission to offer reasonable financial solutions, the credit union offers various loans to members, totaling 35,298 in number. Moreover, Members Credit Union caters to the financial needs of all its members, boasting a membership base of 50,873 individuals.

    Beyond loans, Members Credit Union offers essential banking services such as checking and savings accounts. Members have the flexibility to manage their finances remotely and can access their accounts through the Co-Op Shared Branching network. The credit union also provides members with financial planning resources to help them make informed decisions about their financial future. Additionally, Members Credit Union offers various loan options, including consumer and mortgage loans, through its affiliate, Highland Residential Mortgage.

    Members Credit Union goes beyond just financial services, aiming to provide additional benefits to its members. It offers a Family Security Plan, which provides financial assistance to members in times of need. Members Credit Union continues to innovate and adapt to the evolving financial landscape, ensuring it remains a trusted partner for its members.

    Impact

    This information is meant to be a general summary of Members Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.




    Thursday, August 15, 2024

    Members Credit Union has a significant impact on the financial well-being of its 50,873 members in Winston Salem, NC. By providing a range of diverse products and services, including loans, checking and savings accounts, consumer loans, and mortgage loans through Highland Residential Mortgage, the credit union helps its members manage their finances effectively. With a total of 35,298 loans issued, Members Credit Union plays a vital role in supporting the community's economic growth and stability. Additionally, the institution's focus on financial planning, remote account access, and family security plans further enhances the members' financial security and empowerment.





    Financials

    This financial information is from Propublica.

    Revenue
    Expenses
    Efficiency

    Other financial information:

    This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $4,422,904
  • Program Service Revenue: $17,993,943
  • Gross Receipts: $22,460,729

    • Assets and Liabilities:
  • Total Assets: $463,047,549
  • Total Liabilities: $411,910,917
  • Net Assets: $51,136,632
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    Interest on loans

    Revenue

    $11,867,676

    Fees

    Revenue

    $6,126,267

    Organization Details

    Founding Year

    1953

    Principal Officer

    Robert C Donley

    Main Address

    2098 Frontis Plaza Blvd, Winston Salem, NC, 27103

    NTEE Category

    Code: W60 - Public benefit

    If you are a representative of Members 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.