Pacific Postal Credit Union
- Assets
- $239.6m
- Revenue
- $7.6m
- Investments
- $119.3m
- Employees
- 36
- Location
- San Jose, CA
- Founding
- 06/1961
- Data as of
- 12/2022
- EIN
- 94-0760540
Organization Overview
Pacific Postal Credit Union is located in San Jose, CA. The organization was established in 1961. 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 12/2022, Pacific Postal Credit Union employed 36 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Pacific 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 12/2022, Pacific Postal Credit Union generated $7.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. While expenses have increased by 1.6% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PACIFIC POSTAL CREDIT UNION BUILDS FINANCIAL PARTNERSHIPS AND PROVIDES COMPETITIVE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PACIFIC POSTAL CREDIT UNION PROVIDES CONSUMER FINANCIAL SERVICES TO POSTAL AND CIVIL SERVICE EMPLOYEES AND THEIR FAMILIES IN A DESIGNATED GEOGRAPHICAL AREA IN CALIFORNIA. THE CREDIT UNION PROVIDES A VAST ARRAY OF LOAN PRODUCTS TO MEMBERS AT COMPETITIVE MARKET RATES AND LOWER THAN MARKET FEES. DURING 2022 THE CREDIT UNION PROVIDED A TOTAL OF $45 MILLION IN MEMBER AND PARTICIPATION LOAN DOLLARS.
PACIFIC POSTAL CREDIT UNION PROVIDES DEPOSITORY SERVICES TO ITS MEMBERS. DURING 2022, MEMBERS HAD A TOTAL OF $208,477,305 IN MEMBER SHARE DEPOSITS AT DECEMBER 31, 2022.
PACIFIC POSTAL CREDIT UNION'S CAPITAL PERCENTAGE AT DECEMBER 31, 2022 WAS 16%. THIS IS GREATER THAN TWO TIMES THE INDUSTRY REQUIREMENT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Croteau Vice Chair | OfficerTrustee | 0.5 | $0 |
Marie Furtado Director | Trustee | 0.5 | $0 |
Michael Medlin Director | Trustee | 0.5 | $0 |
Johanna Rocha Secretary, Treasurer | OfficerTrustee | 0.5 | $0 |
Robert Scaletta Director | Trustee | 0.5 | $0 |
Richard Silveria Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Co-op Financial Services Atm Services | 12/30/22 | $243,478 |
Finastra Data Processing | 12/30/22 | $210,171 |
Tpx Communications | 12/30/22 | $103,891 |
Fis Visa Processing | 12/30/22 | $147,587 |
Cubus Homebanking | 12/30/22 | $148,476 |
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 | $5,563,409 |
| Investment income | $2,070,487 |
| 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 | $7,633,896 |
| 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. | $573,581 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,005,265 |
| Pension plan accruals and contributions | $73,419 |
| Other employee benefits | $462,301 |
| Payroll taxes | $180,188 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,798 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $284,658 |
| Advertising and promotion | $182,180 |
| Office expenses | $82,780 |
| Information technology | $523,833 |
| Royalties | $0 |
| Occupancy | $396,696 |
| Travel | $57,662 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $509 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,408 |
| Insurance | $75,786 |
| All other expenses | $186,105 |
| Total functional expenses | $6,796,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,147,889 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,990,840 |
| Loans from Officers, Directors, or Controlling Persons | $3,093,483 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $96,312,554 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $478,147 |
| Net Land, buildings, and equipment | $218,671 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $119,259,046 |
| Investments—program-related | $0 |
| Intangible assets | $75,521 |
| Other assets | $13,024,402 |
| Total assets | $239,600,553 |
| Accounts payable and accrued expenses | $1,313,009 |
| 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 | $208,477,305 |
| Total liabilities | $209,790,314 |
| 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 | $29,810,239 |
| Total liabilities and net assets/fund balances | $239,600,553 |