Lancaster Red Rose Credit Union

Organization Overview

Lancaster Red Rose Credit Union is located in Leola, 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, Lancaster Red Rose Credit Union employed 15 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lancaster Red Rose 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, Lancaster Red Rose Credit Union generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 7 years. 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

THE CREDIT UNION IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND TO CREATE A SOURCE OF LOW COST CREDIT

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE LOANS TO MORE THAN 5,537 MEMBERS.


PROVIDE FINANCIAL STATEMENTS TO MORE THAN 5,537 MEMBERS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fiserv
Atm/debit/credit Card Services
$315,101
Bradford-scott
Data Processing
$105,485
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$1,089,741
Investment income $320,062
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$5,000
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,412,692

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