EIN 34-0058905

138 Towpath Credit Union

IRS 501(c) type
501(c)(14)
Num. employees
82
State
Year formed
1936
Most recent tax filings
2023-12-01
Description
Towpath Credit Union is a member-owned, financial cooperative association. The CU serves all residents of Summit County as well as approved seg-group companies. It is dedicated to providing its members with quality financial services.
Related structure
138 Towpath Credit Union is child organization, under the parent exemption from Ohio Chartered Credit Unions.
Also known as...
Towpath Credit Union
Total revenues
$11,618,297
2023
Total expenses
$10,590,911
2023
Total assets
$198,013,463
2023
Num. employees
82
2023

Program areas at 138 Towpath Credit Union

Member Loans - The Credit Union strives to provide members with financial flexibility and stability with various types of loans in following categories: automobile loans, share secured loans, unsecured loans, business participation loans, mortgage loans, real estate loans, personal loans, credit cards and various other types. At year end, the credit union had approximately 13,460 loans outstanding.
Debit Card Program - The Credit Union strives to provide members with financial flexibility, security, and convenient access to their funds by issuing debit cards.
Depository Accounts - The Credit Union strives to provide members with financial flexibility and encourage savings with various types of depository accounts. The Credit Union currently offers depository accounts in varieties such as checking accounts, savings accounts, money market accounts, certificates of deposit accounts, IRA accounts, Holiday accounts and various other types. At year end, there were approximately 43,862 depository accounts held at the Credit Union.

Personnel at 138 Towpath Credit Union

NameTitleCompensation
Michael SferroPresident and Chief Executive Officer$152,609
Melissa DawsonExecutive Vice President and Chief Financial Officer$103,571
Jeremy WascakSenior Vice President and Cso$101,357
Kathryn LeeExecutive Vice President and Chro$104,366
Mike JonesBoard Member$0
...and 1 more key personnel

Financials for 138 Towpath Credit Union

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$10,148,735
Investment income and dividends$1,192,132
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$7,750
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$269,680
Total revenues$11,618,297

Form 990s for 138 Towpath Credit Union

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-13990View PDF
2022-122023-11-14990View PDF
2021-122022-11-14990View PDF
2020-122021-11-11990View PDF
2019-122021-06-24990View PDF
...and 10 more Form 990s

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Data update history
January 8, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 7, 2024
Updated personnel
Identified 1 new personnel
November 26, 2023
Received grants
Identified 1 new grant, including a grant for $10,000 from Ohio Credit Union Foundation
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 8, 2023
Updated personnel
Identified 1 new personnel
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
State / local level
General information
Address
2969 Smith Rd
Fairlawn, OH 44333
Metro area
Akron, OH
County
Summit County, OH
Website URL
towpathcu.com/ 
Phone
(330) 664-4700
Facebook page
towpathcreditunion 
Twitter profile
@towpathcu 
IRS details
EIN
34-0058905
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1936
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
W60: Financial Institutions, Credit Unions
NAICS code, primary
522130: Credit Unions
Parent/child status
Child within group exemption
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