Opportunities Credit Union

Organization Overview

Opportunities Credit Union is located in Winooski, VT. The organization was established in 1989. 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, Opportunities Credit Union employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Opportunities 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, Opportunities Credit Union generated $3.9m 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 $3.3m during the year ending 12/2021. While expenses have increased by 0.2% 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 BUILD WEALTH, COMMUNITY, AND OPPORTUNITY THROUGH A FAIR AND AFFORDABLE FINANCIAL SYSTEM.

Describe the Organization's Program Activity:

Part 3 - Line 4a

OPPORTUNITIES CREDIT UNION (THE CREDIT UNION) IS FOCUSED ON IMPROVING THE FINANCIAL STABILITY OF VERMONTERS AND OUR COMMUNITY. OUR MEMBERS COME FROM OVER 220 TOWNS IN VERMONT AND OVER 42 COUNTRIES. EACH MEMBER HAS HIS OR HER OWN UNIQUE STORY AND FINANCIAL GOALS. OUR INVESTORS AND PARTNERS ARE EQUALLY FOCUSED ON HAVING AN IMPACT IN OUR TARGET MARKET. THE CREDIT UNION IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION SERVING THE STATE OF VERMONT'S MODERATE- AND LOW-INCOME POPULATION WITH AFFORDABLE CAPITAL AND COUNSELING-BASED FINANCIAL SERVICES. THE CREDIT UNION ATTRACTS FEDERAL AND OTHER GRANTS TO ASSIST IN PROVIDING THESE PROGRAMS. AS A NONPROFIT ORGANIZATION, THE CREDIT UNION IS DEDICATED TO PROMOTING THRIFT AMONG ITS MEMBERS BY AFFORDING THEM AN OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS, ASSISTING TO CREATE FOR THEM A SOURCE OF CREDIT FOR PROVIDENT OR PRODUCTIVE PURPOSES AT A REASONABLE RATE OF INTEREST, AND PROVIDING THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY FOR THEIR MUTUAL BENEFITS. THE TARGET AREA IS THE BURLINGTON ENTERPRISE COMMUNITY AND SELECTED GROUPS THROUGHOUT VERMONT.


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Board, Officers & Key Employees

Name (title)Compensation
Katharine Laud
President
$146,289
Erin Metivier
Sr Finance/hr Manager
$96,624
Charles Baker
Chair
$0
Glenn Von Bernewitz
Vice Chair
$0
Agnes Cook
Secretary/treasurer
$0
Amanda Angell
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $396,552
All other contributions, gifts, grants, and similar amounts not included above$63,800
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$460,352
Total Program Service Revenue$3,386,475
Investment income $44,865
Tax Exempt Bond Proceeds $0
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 $3,891,692

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Opportunities Credit Union has recieved totaling $76,084.

Awarding OrganizationAmount
Consumer Credit Counseling Service Of San Francisco

Concord, CA

PURPOSE: HOUSING COUNSELING & EDUCATION

$76,084
View Grant Recipient Profile

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