1377 Eaton Family Credit Union Inc

Organization Overview

1377 Eaton Family Credit Union Inc is located in Euclid, OH. The organization was established in 1969. 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, 1377 Eaton Family Credit Union Inc employed 30 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 1377 Eaton Family Credit Union Inc 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, 1377 Eaton Family Credit Union Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. 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

EATON FAMILY CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS QUALIFIED MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

DIRECT EMPLOYEE LABOR & BENEFIT COSTS INCURRED WHILE PROVIDING SAVINGS AND DEPOSIT SERVICES, LOAN ORIGINATIONS AND OTHER SERVICES IN THE LOAN PORTFOLIO, WHILE PROVIDING ACCOUNT MAINTENANCE AND ASSISTANCE TO OUR MEMBERS.


DATA PROCESSING & INFORMATION TECHNOLOGY ($191,292.71), NETWORK SECURITY AND DIRECT PROGRAM COSTS; ATM PROGRAM ($52,578.29), DEBIT CARD PROGRAM ($167,707.27), VISA PROGRAM ($112,287.21), BILLPAY PROGRAM ($11,621.58) AND SHARED BRANCHING PROGRAM ($20,114.97), COSTS INCURRED RECORDING MEMBER ACCOUNT ACTIVITIES AND TO PROVIDE ACCESS TO OUR MEMBERS TO THEIR ACCOUNTS THROUGH HOMEBANKING, ATM'S, DEBIT AND VISA CARD PROGRAMS AND IN-PERSON TRANSACTIONS AT 4 DIFFERENT BRANCH LOCATIONS.


DIVIDENDS AND INTEREST PAID ON APPROXIMATELY 19,034 ACCOUNTS HELD BY APPROXIMATELY 12,813 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Michael T Losneck
Treasurer CEO
$153,400
Evelyeen Probert
Board Chairperson
$0
Marc Manburg
Vicechair
$0
Dwayne Petish
Secretary
$0
Doris Yee
Director
$0
Christopher Jochum
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$3,365,009
Investment income $304,974
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 $3,669,983

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