Tremont Credit Union

Organization Overview

Tremont Credit Union is located in Milton, MA. The organization was established in 1999. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Tremont Credit Union employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tremont 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 12/2023, Tremont Credit Union generated $14.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $14.1m during the year ending 12/2023. While expenses have increased by 10.5% per year over the past 8 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

2023

Describe the Organization's Mission:

Part 3 - Line 1

STATE CHARTERED CREDIT UNION

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION PROVIDES FINANCIAL PRODUCTS SUCH AS VARIOUS TYPES OF DEPOSIT ACCOUNTS AND LOANS TO ITS MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Martin Connolly
Director
$0
Darrell Elow
Director
$0
George Hardiman
CEO
$434,946
Donald Smith
Director
$0
Kevin Mullen
Chair
$24,000
Edward Kennedy
Director
$0

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$12,576,258
Investment income $1,377,674
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 $13,953,932

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