CCE Federal Credit Union

Overview

CCE Federal Credit Union is a nonprofit organization operating under the laws of the United States, specifically designated as a 501(c)(1) corporation[2]. Established in 1958, it has been serving its members for over sixty-seven years[4].

Mission and Structure

CCE Federal Credit Union is a member-owned, democratically operated institution managed by a volunteer board of directors. Its primary mission is to meet the credit and savings needs of its members, especially those of modest means. The credit union aims to promote thrift among its members by providing opportunities for savings accumulation and creating a source of credit for provident or productive purposes[1]. Additionally, the credit union may include business purposes by amending its objectives[1].

Operations and Governance

The operations of CCE Federal Credit Union are governed by its bylaws and federal regulations. The credit union employs a financial officer responsible for managing its assets under the direction of the board of directors. Key responsibilities include maintaining financial records, preparing monthly financial statements, and ensuring compliance with regulatory requirements[1].

Membership and Services

As of recent data, CCE Federal Credit Union serves approximately 1,373 members and is supported by a small team of full and part-time employees[4]. The credit union offers various financial services to its members.

Financial Performance

CCE Federal Credit Union has demonstrated strong financial performance, with operating profits and return on assets both at 4.2%, contributing to an excellent profitability rating of 8.2 according to Weiss Ratings[3].

References

1. CCE Federal Credit Union Bylaws
2. ProPublica Nonprofit Explorer
3. Weiss Ratings Summary
4. NCUSO Credit Union Information