Nonprofits138 Towpath Credit Union Inc

138 Towpath Credit Union Inc

FAIRLAWN, OH

Total revenue

$13.6M

Total expenses

$12.6M

Net assets

$21.2M

Grants received

$10K

1 grants

EIN

340058905

Tax year

2024

Mission

Towpath Credit Union is a member-owned, not-for-profit financial cooperative dedicated to serving the needs of its members throughout Summit County and approved select employee groups. Committed to excellence, Towpath Credit Union provides high-quality financial products and personalized services designed to help members achieve their financial goals.

Programs

2 programs

Depository Accounts - Towpath Credit Union is dedicated to providing members with financial flexibility while encouraging savings through a variety of depository account options. These include checking accounts, savings accounts, money market accounts, share certificates, IRA accounts, holiday accounts, and several other account types designed to support members' financial goals. At year-end, the Credit Union maintained approximately 45,100 depository accounts.

Debit Card Program - Towpath Credit Union is committed to providing members with financial flexibility, security, and convenient access to their funds through its debit card program. This service allows members to easily access their accounts, make purchases, and manage their finances with confidence and ease.

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue$12.1M
Investment income$1.3M
Other revenue$238K
Total revenue$13.6M

Expenses

Grants paid
Salaries & benefits$4.6M
Fundraising
Other expenses$6.4M
Total expenses$12.6M
Total assets$198.3M
Net assets$21.2M

People

12 listed

NameRoleCompensation

Michael Sferro

President/CEO

Board

$171K

40 hrs/wk

Kathryn Lee

EVP/CHRO

Board

$109K

40 hrs/wk

Melissa Dawson

EVP/CFO

Board

$108K

40 hrs/wk

Jeremy Wascak

SVP/CSO

Board

$106K

40 hrs/wk

Edward Schmuhl

SVP, CIO/CIS

Board

$102K

40 hrs/wk

Lester Carney

Chairman

Board

1 hrs/wk

Ernest Steele

Vice Chairman

Board

1 hrs/wk

James Talley

Treasurer

Board

1 hrs/wk

Judi Hill

Secretary

Board

1 hrs/wk

Bob Newman

Board Member

Board

1 hrs/wk

Brian Gay

Board Member

Board

1 hrs/wk

Kelly Peters

Board Member

Board

1 hrs/wk

Grants received

Showing 1 of 1

FromAmountPurposeYear
$10K
FINANCIAL EDUCATION - STAFF TO BECOME CERTIFIED CUNA FICEP PROGRAM
2022

Funded by

$10K from 1 funder · 1 grant · 2022

Ohio Credit Union Foundation

$10K · 1 grant · 2022

Details

EIN340058905
Subsection14
Ruling date1969-04
Formed1936
Employees87
Volunteers7
138 TOWPATH CREDIT UNION INC — Mission, Financials & Grants Received | Grantivo