Georgia's Own Credit Union
- Assets
- $4.3b
- Revenue
- $290.9m
- Investments
- $0.0
- Employees
- 886
- Location
- Atlanta, GA
- Founding
- 11/2001
- Data as of
- 12/2023
- EIN
- 58-0147128
Organization Overview
Georgia's Own 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, Georgia's Own Credit Union employed 886 individuals. Georgia's Own 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, Georgia's Own Credit Union generated $290.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $276.8m during the year ending 12/2023. While expenses have increased by 14.3% 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, Georgia's Own Credit Union has awarded 89 individual grants totaling $2,275,493. 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
BANKING ON PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED THRIFT SAVINGS / BORROWINGS TO 240,650 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard E Burns Director-Chairperson | Trustee | 1 | $58,164 |
David Dickey Director- Vice Chairperson | Trustee | 1 | $39,802 |
Joan K Sims Director- Secretary | Trustee | 1 | $37,052 |
Patrick H Casey Director- Treasurer | Trustee | 1 | $37,052 |
Michael W Baumgartner Director | Trustee | 1 | $37,052 |
William E Conine Director | Trustee | 1 | $37,052 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Solutions Inc Financial Technology Services | 12/30/23 | $6,034,385 |
100 Peachtree Property Llc Corporate Office Rent | 12/30/23 | $3,408,805 |
Alkami Technology Inc Digital Banking Solutions | 12/30/23 | $2,616,821 |
Shi International Corp Technology Vendor | 12/30/23 | $1,397,955 |
Amplifi Loyalty Solutions Llc Credit Card Rewards Services | 12/30/23 | $2,069,428 |
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 | $270,753,630 |
| Investment income | $22,168,560 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,015,824 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $290,906,366 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $426,596 |
| 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. | $10,224,297 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,343,700 |
| Pension plan accruals and contributions | $4,487,916 |
| Other employee benefits | $12,945,635 |
| Payroll taxes | $4,344,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $321,355 |
| Fees for services: Accounting | $119,968 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,302,909 |
| Office expenses | $20,318,389 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,436,980 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $937,596 |
| Interest | $74,311,738 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,252,055 |
| Insurance | $0 |
| All other expenses | $306,065 |
| Total functional expenses | $276,773,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,164,021 |
| Savings and temporary cash investments | $269,586,706 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,722,719 |
| Loans from Officers, Directors, or Controlling Persons | $33,976,490 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,177,044,272 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,027,955 |
| Net Land, buildings, and equipment | $68,122,350 |
| Investments—publicly traded securities | $399,275,308 |
| Investments—other securities | $0 |
| Investments—program-related | $34,517,036 |
| Intangible assets | $83,048,722 |
| Other assets | $128,884,320 |
| Total assets | $4,282,369,899 |
| Accounts payable and accrued expenses | $86,108,117 |
| 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 | $352,064,096 |
| Unsecured mortgages and notes payable | $50,000,000 |
| Other liabilities | $3,451,306,892 |
| Total liabilities | $3,939,479,105 |
| 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 | $342,890,794 |
| Total liabilities and net assets/fund balances | $4,282,369,899 |
Grants Awarded
Over the last fiscal year, Georgia's Own Credit Union has awarded $279,353 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATED CREDIT UNION FOUNDATION PURPOSE: CHARITABLE CONTRIBUTION | $7,500 |
CHRIS TUCKER FOUNDATION INC PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
GEORGIA STATE UNIVERSITY FOUNDATION INC PURPOSE: CHARITABLE CONTRIBUTION | $101,500 |
LIVESAFE RESOURCES INC PURPOSE: CHARITABLE CONTRIBUTION | $6,000 |
LEAD INC PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
KING'S RIDGE CHRISTIAN SCHOOL ATTN JAIME DEARTH ONE ASSOC PURPOSE: CHARITABLE CONTRIBUTION | $7,500 |