Pollock Employees Credit Union
- Assets
- $5.1m
- Revenue
- $221.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Dallas, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-0500763
Organization Overview
Pollock Employees Credit Union is located in Dallas, TX. The organization was established in 1976. 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 12/2021, Pollock Employees Credit Union employed 3 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Pollock Employees 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, Pollock Employees Credit Union generated $221.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $243.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
POLLOCK EMPLOYEES CREDIT UNION IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE TEXAS CREDIT UNION DEPARTMENT AND NATIONAL CREDIT UNION ASSOCIATION. IT IS ALSO A MEMBER OF THE CORNERSTONE CREDIT UNION LEAGUE. IF OFFERS SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, AND CONSUMER LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE ACCOUNTS POLLOCK EMPLOYEES CREDIT UNION SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 960 MEMBER-OWNER ACCOUNTS ON DECEMBER 31, 2021. MEMBER SHARE ACCOUNTS (SAVINGS ACCOUNTS) PAY DIVIDENDS QUARTERLY AND ARE ACCESSED BY PHONE, WIRING, AND ACH. SHARE ACCOUNTS FOR CHILDREN AND TEENAGERS ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS.
SHARE DRAFT ACCOUNTS/ ATM/ DEBIT CARDS POLLOCK EMPLOYEES CREDIT UNION PROVIDES SHARE DRAFT ACCOUNTS WITH VARIOUS FEATURES FOR ITS MEMBERS. SHARE DRAFT ACCOUNTS (CHECKING ACCOUNTS) FOR STUDENTS HAVE NO MONTHLY CHARGES. ADULTS, AGES 62 AND OLDER, HAVE NO MONTHLY CHARGE. REGULAR ACCOUNTS, WITH A MINIMAL REQUIRED BALANCE OF ONLY $300, ALSO HAVE NO MONTHLY CHARGE. ACCOUNTS THAT DO HAVE A MONTHLY CHARGE ONLY PAY A SMALL FEE. DIVIDENDS ARE PAID MONTHLY ON THE SHARE DRAFTS ACCOUNTS. ADDITIONALLY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS AND LOW COST ACH ACCESS.
CONSUMER LOANS POLLOCK EMPLOYEES CREDIT UNION HAS PROVIDED VEHICLE LOANS SINCE ITS EARLY YEARS. THE CONSUMER LOAN PRODUCT LINE INCLUDES EFFICIENT UNDERWRITING AND OFFERINGS FOR RECREATIONAL VEHICLES, BOATS, AND MOTORCYCLES. LOANS ARE OFFERED FOR ALMOST ALL PERSONAL NEEDS. SMALL PERSONAL LOANS ARE AVAILABLE WITH LOW DOLLAR PAYMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gene Pittman President | Officer | 23.9 | $43,496 |
Benny Parrish Board Chairman | Trustee | 0.5 | $0 |
Walter Drake Board Vice-Chairman | Trustee | 0.5 | $0 |
Tracy Vandiver Board Secretary | Trustee | 1 | $0 |
Mel Brown Board Director | Trustee | 0.5 | $0 |
Otis Conner Board Director | Trustee | 0.5 | $0 |
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 | $203,918 |
| Investment income | $16,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $221,114 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $43,496 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,388 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,208 |
| Payroll taxes | $6,913 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,546 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $800 |
| Advertising and promotion | $317 |
| Office expenses | $42,572 |
| Information technology | $12,522 |
| Royalties | $0 |
| Occupancy | $18,479 |
| Travel | $2,154 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,621 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13 |
| Insurance | $9,474 |
| All other expenses | $15,336 |
| Total functional expenses | $243,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,488 |
| Savings and temporary cash investments | $2,246,561 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $485 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,772,474 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,849 |
| Net Land, buildings, and equipment | $11,297 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,450 |
| Total assets | $5,101,604 |
| Accounts payable and accrued expenses | $838 |
| 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 | $4,549,637 |
| Total liabilities | $4,550,475 |
| 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 | $551,129 |
| Total liabilities and net assets/fund balances | $5,101,604 |