Amplify Federal Credit Union

Organization Overview

Amplify Federal Credit Union is located in Austin, TX. The organization was established in 1976. As of 12/2021, Amplify Federal Credit Union employed 273 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Amplify Federal 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, Amplify Federal Credit Union generated $69.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $55.3m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 5 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

TO IMPROVE THE LIVES OF OUR MEMBERS AND THE STRENGTH OF OUR COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

AMPLIFY PROVIDES CERTIFICATES OF DEPOSIT, SHARE ACCOUNTS AND CHECKING ACCOUNTS TO MEMBERS. THE CREDIT UNION PAYS INTEREST ON THE SAVINGS AND TIME DEPOSITS. IN ADDITION, THE CREDIT UNION PROVIDES VARIOUS TYPES OF LOANS TO ITS MEMBERS, INCLUDING RESIDENTIAL AND HOME EQUITY LOANS, AUTO LOANS, BUSINESS LOANS, AND CONSUMER LOANS. THE CREDIT UNION SERVICES LOANS FOR ITS MEMBERS AND OTHER FINANCIAL INSTITUTIONS.


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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$65,782,901
Investment income $2,213,392
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,724,380
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $69,720,673

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