Atlanta Postal Credit Union
- Assets
- $2.4b
- Revenue
- $108.2m
- Investments
- $476.9m
- Employees
- 387
- Location
- Atlanta, GA
- Founding
- 11/2001
- Data as of
- 12/2023
- EIN
- 58-0146810
Organization Overview
Atlanta Postal Credit Union is located in Atlanta, GA. The organization was established in 2001. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Atlanta Postal Credit Union employed 387 individuals. Atlanta Postal 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, Atlanta Postal Credit Union generated $108.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $105.2m during the year ending 12/2023. While expenses have increased by 7.1% 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, Atlanta Postal Credit Union has awarded 18 individual grants totaling $273,980. 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 HELP OUR MEMBERS ACHIEVE FINANCIAL SUCCESS BY PROVIDING EXCEPTIONAL PRODUCTS AND SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION PROVIDING LOANS AND DEPOSITS FOR OVER 105,190 MEMBERS. ATLANTA POSTAL CREDIT UNION IS A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE, FOUNDED ON THE PREMISE THAT WORKING PEOPLE NEED A SAFE AND SOUND PLACE TO SAVE AND BORROW MONEY. GUIDING PRINCIPLES ARE UNIQUE: ONLY PEOPLE WHO ARE CREDIT UNION MEMBERS CAN BORROW HERE, LOANS SHOULD BE FOR PRUDENT AND PRODUCTIVE PURPOSES, AND A PERSON'S CHARACTER AND DESIRE TO REPAY A LOAN ARE CONSIDERED AS IMPORTANT AS A PERSON'S INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Payne Board Secretary | OfficerTrustee | 1 | $21,658 |
Blake Graham President/director | OfficerTrustee | 40 | $516,093 |
Betty Ranson Director | Trustee | 1 | $19,060 |
J T Middlebrooks Director | Trustee | 1 | $20,100 |
Philip Upchurch Director | Trustee | 1 | $4,500 |
David Patterson Director | Trustee | 1 | $24,180 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Datamatx Member Statement Processing | 12/30/23 | $1,061,200 |
Cdw Direct Software Maintenance | 12/30/23 | $1,405,442 |
M2 The Agency Inc Marketing Consulting Services | 12/30/23 | $975,177 |
Jack Henry & Associates Inc Processing System Software Provider | 12/30/23 | $875,928 |
The Redmond Company Construction Design Consultants | 12/30/23 | $570,332 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,961,203 |
| 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 | $5,961,203 |
| Total Program Service Revenue | $91,375,962 |
| Investment income | $10,858,572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,702 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $108,243,439 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $28,968 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,415,557 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,265,119 |
| Pension plan accruals and contributions | $1,807,961 |
| Other employee benefits | $4,096,272 |
| Payroll taxes | $1,527,897 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $125,260 |
| Fees for services: Accounting | $156,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,889,695 |
| Advertising and promotion | $4,181,670 |
| Office expenses | $3,285,056 |
| Information technology | $3,597,579 |
| Royalties | $0 |
| Occupancy | $2,036,114 |
| Travel | $244,211 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $717,542 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,696,169 |
| Insurance | $0 |
| All other expenses | $5,255,312 |
| Total functional expenses | $105,167,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,655,284 |
| Savings and temporary cash investments | $189,243,375 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $3,491,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,589,168,184 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $34,250,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $476,865,775 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $128,236,950 |
| Total assets | $2,424,911,153 |
| Accounts payable and accrued expenses | $30,923,396 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,110,436,667 |
| Total liabilities | $2,141,360,063 |
| 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 | $283,551,090 |
| Total liabilities and net assets/fund balances | $2,424,911,153 |
Grants Awarded
Over the last fiscal year, Atlanta Postal Credit Union has awarded $18,968 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
POSTAL EMPLOYEE RELIEF FUND PURPOSE: GENERAL OPERATIONS | $10,000 |
CHILDREN'S MIRACLE NETWORK PURPOSE: GENERAL OPERATIONS | $8,968 |