Postel Family Credit Union
- Assets
- $76.2m
- Revenue
- $3.6m
- Investments
- $38.3m
- Employees
- 28
- Location
- Wichita Falls, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-0813625
Organization Overview
Postel Family Credit Union is located in Wichita Falls, 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, Postel Family Credit Union employed 28 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Postel Family 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, Postel Family Credit Union generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 7 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
POSTEL FAMILY CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE AND IS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION INSURANCE FUND. THE CREDIT UNION IS REGULATED BY THE STATE OF TEXAS CREDIT UNION DEPARTMENT AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. POSTEL FAMILY CREDIT UNION OFFERS PRODUCTS AND SERVICES IN FOUR PRIMARY AREAS: SHARE ACCOUNTS, CHECKING ACCOUNTS, CONSUMER LOANS AND REAL ESTATE LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE ACCOUNTS: POSTEL FAMILY CREDIT UNION HAD 5,922 MEMBER OWNED ACCOUNTS ON DECEMBER 31, 2021. MEMBERS SAVINGS ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, INTERNET BANKING, MOBILE DEVICES, OR TELEPHONE AND ATMS WORLDWIDE. SPECIAL SAVINGS ACCOUNTS DESIGNED FOR CHILDREN AND TEENAGERS ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS.
CHECKING ACCOUNTS: POSTEL FAMILY CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR MEMBERS. DIVIDENDS ARE PAID MONTHLY. THE CREDIT UNION OFFERS DEBIT CARDS, INTERNET ACCESS, MOBILE ACCESS, REMOTE DEPOSIT AND FREE USE OF THE INTERNET BILL PAYER PLATFORM.
CONSUMER LOANS: POSTEL FAMILY CREDIT UNION OFFERS LOANS FOR VEHICLES, BOATS, MOTORCYCLES, MORTGAGES, UNSECURED AND RECREATIONAL VEHICLES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Hanson President/ceo | Officer | 40 | $101,988 |
Steve Hanson Vice President Financial Services | Officer | 40 | $88,970 |
Becky Alexander Assistant Vice President Accounting | Officer | 40 | $70,859 |
Linda Frost Assistant Vice President Operations | Officer | 40 | $69,754 |
Joe Ryckoff Board Chairman | Trustee | 1 | $0 |
Robert Fonck Board Vice Chairman | Trustee | 1 | $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 | $2,414,756 |
| Investment income | $248,376 |
| 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 | $3,554,684 |
| 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. | $331,571 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $824,107 |
| Pension plan accruals and contributions | $23,628 |
| Other employee benefits | $409,118 |
| Payroll taxes | $120,061 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,237 |
| Fees for services: Accounting | $42,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135,139 |
| Advertising and promotion | $101,818 |
| Office expenses | $480,189 |
| Information technology | $56,916 |
| Royalties | $0 |
| Occupancy | $131,612 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $215 |
| Interest | $177,930 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,230 |
| Insurance | $62,178 |
| All other expenses | $85,925 |
| Total functional expenses | $3,142,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $827,663 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,790 |
| Loans from Officers, Directors, or Controlling Persons | $978,012 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,628,549 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,448 |
| Net Land, buildings, and equipment | $1,663,005 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $38,262,567 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $805,770 |
| Total assets | $76,236,804 |
| Accounts payable and accrued expenses | $499,567 |
| 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 | $68,376,791 |
| Total liabilities | $68,876,358 |
| 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 | $7,360,446 |
| Total liabilities and net assets/fund balances | $76,236,804 |
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