Municipal Credit Union
501(c)(14)
Strong reserves Growing revenue
Municipal Credit Union is a 501(c)(14) organization based in New York, New York, registered in 1980, with $291,347,613 in FY2023 revenue.
22 Cortlandt Street, New York, NY, 10007 EIN 13-5261470 Since 1980
Revenue (FY2023)
$291.3M
▲ 18.2% vs prior year
Expenses (FY2023)
$212.7M
Net assets
$352.9M
Employees
735
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
★★★★
Rated on 3 of 4 criteria — the rest aren't reported in this filing type.
Capped at A — the top grade requires the fuller disclosure of a complete Form 990.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Municipal Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating20 mo reserves · +27% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Municipal Credit Union: 20 mo reserves · +27% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Municipal Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Municipal Credit Union: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To build lifetime financial relationships with each member, providing competitive products and excellent services.
What they do
During 2016 mcu offered various deposit products to its members
During 2016 mcu offered various other services to its members such as atm and debit card.
Contact & location
Financial trends
Revenue grew from $127.2M (FY2013) to $291.3M (FY2023) across 10 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $4.0BNet assets $352.9M
Operating margin
27.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$4.3B
Total liabilities
$4.0B
Net assets
$352.9M
Salaries & benefits
$69.2M
33% of expenses
Board members
6
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $291,347,613▲18.2% | $212,652,373▲18.8% | $352,948,120▲31.5% | $4,342,353,174▲2.6% | 990 |
| 2022 | $246,526,470▲16.9% | $178,986,619▲29.1% | $268,322,295▲11.7% | $4,233,162,589▼1.2% | 990 |
| 2021 | $210,950,031▼4.5% | $138,602,371▲17.8% | $240,227,606▼6.8% | $4,283,390,040▲2.1% | 990 |
| 2020 | $220,924,766▲1.1% | $117,685,716▼60.9% | $257,657,960▲77.7% | $4,195,909,598▲37.5% | 990 |
| 2019 | $218,495,095▲10.2% | $301,226,540▲61.2% | $144,977,629▲32.2% | $3,052,270,675▲6.6% | 990 |
| 2018 | $198,217,065▲18.5% | $186,889,680▲18.6% | $109,687,273▼3.8% | $2,863,182,574▲15.3% | 990 |
| 2016 | $167,229,977▲12.0% | $157,530,945▲9.4% | $114,063,264▲1.2% | $2,482,536,207▲8.4% | 990 |
| 2015 | $149,284,312▲11.8% | $144,053,431▲9.4% | $112,705,208▲4.1% | $2,290,023,130▲9.2% | 990 |
| 2014 | $133,551,051▲5.0% | $131,651,495▲6.1% | $108,222,846▼16.4% | $2,096,409,712▲7.3% | 990 |
| 2013 | $127,165,605 | $124,122,855▲5.1% | $129,381,515▲1.2% | $1,954,679,441▲9.1% | 990 |
| 2012 | — | $118,075,121▼0.9% | $127,901,377▼11.2% | $1,792,352,887▲8.2% | 990 |
| 2011 | — | $119,186,028▼3.8% | $144,085,316▼4.2% | $1,657,079,411▲7.5% | 990 |
| 2010 | — | $123,924,030 | $150,470,469 | $1,541,023,384 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Kyle Markland — $1,402,700 (0.66% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kyle Markland | Chief Executive Officer | 40 | $1,402,700 |
| Melissa Hartzell-galileo | Chief Lending Officer, Thru 10/2023 | 40 | $646,744 |
| Francisco Madeira | Chief Financial Officer | 40 | $477,280 |
| Juan Luna | Chief Information Officer | 40 | $441,081 |
| George Chacon | Chief Strategy Officer | 40 | $432,432 |
| Toni-ann Sforza | Chief People & Experience Officer | 40 | $411,677 |
| Andrew David Weltman | General Counsel | 40 | $290,769 |
| Cania S Infante | Chief Marketing Officer | 40 | $275,731 |
| Athena Moore | Vice President, Community Engagement | 40 | $240,000 |
| Hilary Gewain | Vice President, Accounting | 40 | $240,000 |
| Robyn Russo | Vice President, Consumer Lending | 40 | $238,749 |
| Kristi Rodgers | Vice President, It Operations and Development | 40 | $236,345 |
| Christine Bertan | Vice President, Learning and Development | 40 | $235,380 |
| Stuart Salembier | Vice President, Retail Channels | 40 | $233,560 |
| Samantha Ferdinand-davis | Director, Compliance Officer | 40 | $228,321 |
| Christina Zanca | Vice President, Marketing & Public Relations | 40 | $218,699 |
| Scott Deguilo | Vice President,it Infrastructure & Technology | 40 | $216,980 |
| Sreenivas Rayadurgam | Manager, Systems Development & Programming | 40 | $210,826 |
| Louise Anne Cogan-rupani | Vice President, Strategic Enablement | 40 | $210,087 |
| Ronald Lee Swearer | Vice President, Real Estate | 40 | $205,000 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Scott Bracale | Executive Consultant | $166,875 |
Grants made · $135K in FY2016
4 grants totaling $135K in FY2016. All grants made by Municipal Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Medgar Evers Educational Foundation Inc | See part iv | $100,000 |
| African American Credit Union Coalition | See part iv | $15,000 |
| New York Credit Union Foundation | See part iv | $10,000 |
| National Credit Union Foundation Inc | See part iv | $10,000 |
Frequently asked questions
- Is Municipal Credit Union a legitimate nonprofit?
- Yes. Municipal Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 13-5261470, based in New York, New York.
- What is Municipal Credit Union's EIN?
- Municipal Credit Union's Employer Identification Number (EIN) is 13-5261470.
- How much revenue does Municipal Credit Union report?
- Municipal Credit Union reported $291,347,613 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much does Municipal Credit Union's highest-paid employee make?
- The highest reported compensation on Municipal Credit Union's latest Form 990 is $1,402,700, paid to Kyle Markland (Chief Executive Officer).
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Data for Municipal Credit Union (EIN 13-5261470) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.