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← POSTCITY FINANCIAL CREDIT UNION

Form 990 for tax year 2022

Filed by POSTCITY FINANCIAL CREDIT UNION.

Totals

Total revenue
$2,303,203
Total expenses
$2,506,068
Contributions and grants received
$0
Grants paid
$1,750
Program service revenue
$1,537,104
Investment income
$616,243
Other revenue
$149,856
Total assets, end of year
$79,738,384
Total liabilities, end of year
$70,914,695
Net assets or fund balances, end of year
$8,823,689
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INCOME FROM LOANS

    total $1,030,375 · related or exempt $1,030,375

  • 2b · Program service revenue: FEE INCOME

    total $474,715 · related or exempt $474,715

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $32,014 · related or exempt $25,822 · unrelated business $6,192

  • 3 · Investment income

    total $616,243 · related or exempt $616,243

  • 11a · Other revenue: GAIN ON ALL OTHER INVE

    total $137,789 · related or exempt $137,789

  • 11b · Other revenue: PROVISIONS FOR LOANS

    total $12,067 · related or exempt $12,067

  • 11e · Other revenue, total

    $149,856

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,750

  • 5 · Compensation of officers, directors and key employees

    total $328,377

  • 7 · Other salaries and wages

    total $485,512

  • 9 · Other employee benefits

    total $202,523

  • 10 · Payroll taxes

    total $70,708

  • 11b · Fees: legal

    total $22,301

  • 11c · Fees: accounting

    total $31,618

  • 11g · Fees: other

    total $293,899

  • 12 · Advertising and promotion

    total $127,478

  • 13 · Office expenses

    total $495,146

  • 14 · Information technology

    total $31,162

  • 16 · Occupancy

    total $32,799

  • 17 · Travel

    total $19,717

  • 20 · Interest

    total $113,266

  • 22 · Depreciation, depletion and amortization

    total $95,741

  • 24a · Other expenses: LOSS ON EQUITY AND TRAD

    total $67,666

  • 24b · Other expenses: MISC OPERATING EXPENSES

    total $49,127

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $21,679

  • 24d · Other expenses: OPERATING FEES AND ASSO

    total $13,257

  • 24e · All other expenses

    total $2,342

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $994,246 · end of year $1,347,953

  • 2 · Savings and temporary cash investments

    beginning of year $4,797,527 · end of year $30,307,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $91,951 · end of year $5,049

  • 10a · Land, buildings and equipment: cost or other basis

    $2,786,385

  • 10b · Land, buildings and equipment: accumulated depreciation

    $725,479

  • 10c · Land, buildings and equipment, net

    beginning of year $2,145,624 · end of year $2,060,906

  • 13 · Investments: program-related

    beginning of year $72,738,517 · end of year $43,620,782

  • 15 · Other assets

    beginning of year $2,307,096 · end of year $2,396,694

  • 17 · Accounts payable and accrued expenses

    beginning of year $262,900 · end of year $271,663

  • 25 · Other liabilities

    beginning of year $73,630,299 · end of year $70,643,032

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,181,762 · end of year $8,823,689

Mission and programs · 2022

Mission

POSTCITY FINANCIAL CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, POSTCITY FINANCIAL CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Activities or mission (Part I)

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

  • ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH CONSUMER LOANS, I.E., AUTO LINES, VISA AND PERSONAL LINES OF CREDIT.

  • ACCOMPLISHMENT OF TARGET GOALS IN CONNECTION WITH PROVISION OF MORTGAGE LOAN PRODUCTS TO EXISTING MEMBERS.

  • MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND SIMILAR ACCOUNTS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alfred Souder

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Rule

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Danny Mastren

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jerry Hardison

    BOARD MEMBER/AUDIT CMTE

    Total calculated
    $0
    Hours/week
    1

  • Christine Chavira

    BOARD MEMBER/AUDIT CMTE

    Total calculated
    $0
    Hours/week
    1

  • Carnell Dunston

    SECRETARY/AUDIT CMTE

    Total calculated
    $0
    Hours/week
    1

  • Christine Haley

    PRESIDENT/CEO

    Total calculated
    $200,986
    From this org
    $183,034
    From related orgs
    $0
    Other
    $17,952
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,493
    Bonus
    $0
    Other
    $3,541
    Deferred
    $17,344
    Nontaxable benefits
    $608
    Filer's total
    $200,986

  • Astrid Rives

    VICE PRESIDENT

    Total calculated
    $167,919
    From this org
    $145,343
    From related orgs
    $0
    Other
    $22,576
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,510
    Bonus
    $0
    Other
    $3,833
    Deferred
    $11,279
    Nontaxable benefits
    $11,297
    Filer's total
    $167,919

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202333069349301733

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