Kankakee Federation Of Teachers Credit Union

Organization Overview

Kankakee Federation Of Teachers Credit Union is located in Kankakee, IL. The organization was established in 1957. 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, Kankakee Federation Of Teachers Credit Union employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kankakee Federation Of Teachers 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, Kankakee Federation Of Teachers Credit Union generated $327.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $285.0k during the year ending 12/2021. While expenses have increased by 4.1% 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

AS A SMALL AND SUCCESSFUL CREDIT UNION COMMITTED TO TEACHERS HELPING TEACHERS, THE KANKAKEE FEDERATION OF TEACHERS CREDIT UNION HAS AS ITS MISSION TO PROVIDE SOUND, STABLE, AND SECURE FINANCIAL SERVICES TO ITS PRESENT AND FUTURE MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION PROVIDED OVER 800 LOANS TO ITS MEMBERS AND HELD OVER 1,400 MEMBER SHARE-TYPE ACCOUNTS FOR ITS MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Patricia Geel
President/bd Treas
$35,730
Jennifer Conn
Treasurer/bd Member
$28,500
Marion Jackson Jr
Chair
$16,500
Randall Degenhart
Vice Chair
$0
Ruth Alexander
Secretary
$0
Oachia Irvin
Board Member
$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$320,497
Investment income $7,385
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 $327,882

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