0005 Wright-Patt Credit Union
- Assets
- $8.3b
- Revenue
- $518.0m
- Investments
- $1.4b
- Employees
- 1,605
- Location
- Beavercreek, OH
- Founding
- 04/1969
- Data as of
- 12/2023
- EIN
- 31-0278870
Organization Overview
0005 Wright-Patt Credit Union is located in Beavercreek, OH. The organization was established in 1969. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, 0005 Wright-Patt Credit Union employed 1,605 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 0005 Wright-Patt 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 12/2023, 0005 Wright-Patt Credit Union generated $518.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $447.4m during the year ending 12/2023. While expenses have increased by 13.4% per year over the past 9 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.
Since 2015, 0005 Wright-Patt Credit Union has awarded 55 individual grants totaling $3,310,045. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THRIFT SAVINGS, BORROWING, AND FINANCIAL SERVICES AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVIDENDS PAID TO MEMBERS ON APPROXIMATELY 1,120,947 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 503,041 MEMBERS (DIVIDENDS $148,007,873; INCLUDING A SPECIAL PATRONAGE DIVIDEND OF $8,065,653).
DIRECT LABOR AND EMPLOYEE BENEFITS COSTS INCURRED TO PROVIDE DEPOSIT SERVICES, ORIGINATE LOANS, AND SERVICE LOANS FOR MEMBERS TOTALED $127,844,668.
BRANCH OFFICE OCCUPANCY AND OPERATIONS SERVICES 35 BRICK AND MORTAR BRANCHES PLUS TWO CALL CENTERS PROVIDES PHYSICAL LOCATION FOR PERSON TO PERSON FINANCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 2 | $14,400 |
Name Not Listed Director; Treasurer | Trustee | 2 | $16,540 |
Name Not Listed Director; Secretary | Trustee | 2 | $14,477 |
Name Not Listed Director | Trustee | 2 | $14,400 |
Name Not Listed Director; Chair | Trustee | 2 | $16,800 |
Name Not Listed Director; Vice Chair | Trustee | 2 | $18,076 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vaco Llc Temp/contractors | 12/30/23 | $1,195,080 |
Loanstar Technologies Llc Lending Services | 12/30/23 | $1,072,406 |
Government Guaranteed Lending Solutions Llc Lending Services | 12/30/23 | $1,356,449 |
Allied Universal Security Services Security Services | 12/30/23 | $672,880 |
Alm First Financial Advisors Llc Financial Services | 12/30/23 | $540,115 |
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 | $514,871,580 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,138,420 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $518,010,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $836,456 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,511,890 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $86,827,419 |
| Pension plan accruals and contributions | $6,785,625 |
| Other employee benefits | $17,507,276 |
| Payroll taxes | $7,162,324 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $481,009 |
| Fees for services: Accounting | $668,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $585,677 |
| Fees for services: Other | $3,825,886 |
| Advertising and promotion | $6,205,542 |
| Office expenses | $7,848,936 |
| Information technology | $5,465,849 |
| Royalties | $0 |
| Occupancy | $7,826,510 |
| Travel | $807,351 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $96,019 |
| Interest | $158,800,647 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,444,319 |
| Insurance | $772,432 |
| All other expenses | $10,691,749 |
| Total functional expenses | $447,378,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $457,520,000 |
| Savings and temporary cash investments | $93,751,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $64,572,084 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,961,827,916 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,881,934 |
| Net Land, buildings, and equipment | $75,041,144 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,411,964,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $264,779,066 |
| Total assets | $8,334,337,144 |
| Accounts payable and accrued expenses | $118,008,315 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $505,995,271 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,952,056,665 |
| Total liabilities | $7,576,060,251 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $758,276,893 |
| Total liabilities and net assets/fund balances | $8,334,337,144 |
Grants Awarded
Over the last fiscal year, 0005 Wright-Patt Credit Union has awarded $780,938 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
WRIGHT STATE UNIVERSITY FOUNDATION PURPOSE: GENERAL SUPPORT | $335,000 |
WPCU SUNSHINE COMMUNITY FUND PURPOSE: GENERAL SUPPORT | $282,938 |
HEART FOOD PANTRY PURPOSE: GENERAL SUPPORT | $15,500 |
BOYS & GIRLS CLUB OF DAYTON INC PURPOSE: GENERAL SUPPORT | $15,000 |
THE BIG HOOPLA INC PURPOSE: GENERAL SUPPORT | $15,000 |
RONALD MCDONALD HOUSE CHARITIES PURPOSE: GENERAL SUPPORT | $15,000 |