Lehigh Valley Educators Credit Union

Organization Overview

Lehigh Valley Educators Credit Union is located in Allentown, PA. The organization was established in 1945. 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, Lehigh Valley Educators Credit Union employed 33 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lehigh Valley Educators 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, Lehigh Valley Educators Credit Union generated $9.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $7.4m during the year ending 12/2021. While expenses have increased by 3.2% 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

MAINTAIN FINANCIAL SOUNDNESS WHILE EMPOWERING MEMBERS TO WORK TOWARD FINANCIAL SUCCESS

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE MORE THAN 8,300 LOANS TO OVER 16,000 MEMBERS.


PROVIDE FINANCIAL SERVICES TO OVER 16,000 MEMBERS


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Board, Officers & Key Employees

Name (title)Compensation
Rosemarie E Krantz
CEO
$170,975
Ronald W Houck
CFO
$101,206
Marie A Rhoda
Clo
$98,828
William Ayers
Board Chairperson
$1,000
Gary Fedorcha
Board Vice Chair
$750
Eugenia Emert
Secretary/treasurer
$550

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fidelity Information Services
Plastic Card Services
$295,796
Fiserv
Debit Card Processing
$354,254
Corelation Inc
Software Maintenance
$105,115
Alkami Technology
Digital Banking Services
$225,791
View All Vendors

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$6,041,318
Investment income $3,324,973
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $97,940
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $9,686,113

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