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Nonprofiteer
← DELTA COMMUNITY CREDIT UNION

Form 990 for tax year 2023

Filed by DELTA COMMUNITY CREDIT UNION.

Totals

Total revenue
$402,702,234
Total expenses
$369,367,287
Contributions and grants received
$0
Grants paid
$423,657
Program service revenue
$348,593,567
Investment income
$54,108,667
Other revenue
$0
Total assets, end of year
$8,657,245,365
Total liabilities, end of year
$7,932,959,749
Net assets or fund balances, end of year
$724,285,616
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 $255,919,637 · related or exempt $255,919,637

  • 2b · Program service revenue: INTERCHANGE INCOME

    total $43,346,488 · related or exempt $43,346,488

  • 2c · Program service revenue: SERVICE CHARGES

    total $30,581,342 · related or exempt $30,244,079 · unrelated business $337,263

  • 2d · Program service revenue: OTHER OPERATING INCOME

    total $18,746,100 · related or exempt $16,372,657 · unrelated business $2,373,443

  • 3 · Investment income

    total $51,885,712 · excluded $51,885,712

  • 7a · Gross sales of assets other than inventory

    other assets $127,781,845

  • 7b · Less cost or other basis and sales expenses

    other assets $125,558,890

  • 7c · Gain or loss

    other assets $2,222,955

  • 7d · Net gain or loss

    total $2,222,955 · excluded $2,222,955

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $413,657

  • 2 · Grants to domestic individuals

    total $10,000

  • 4 · Benefits paid to or for members

    total $59,576,719

  • 5 · Compensation of officers, directors and key employees

    total $10,175,199

  • 7 · Other salaries and wages

    total $107,745,850

  • 8 · Pension plan contributions

    total $4,726,409

  • 9 · Other employee benefits

    total $13,442,229

  • 10 · Payroll taxes

    total $6,825,455

  • 11b · Fees: legal

    total $566,780

  • 11c · Fees: accounting

    total $351,208

  • 11d · Fees: lobbying

    total $92,416

  • 11g · Fees: other

    total $7,788,044

  • 12 · Advertising and promotion

    total $7,803,884

  • 13 · Office expenses

    total $10,827,323

  • 16 · Occupancy

    total $12,347,449

  • 19 · Conferences, conventions and meetings

    total $1,185,962

  • 20 · Interest

    total $28,759,319

  • 22 · Depreciation, depletion and amortization

    total $7,160,647

  • 23 · Insurance

    total $933,655

  • 24a · Other expenses: UBI TAXES

    total $82,746

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $28,423,560

  • 24c · Other expenses: FINANCIAL SERVICES OPER

    total $24,247,573

  • 24d · Other expenses: SERVICE CONTRACTS

    total $21,980,130

  • 24e · All other expenses

    total $13,901,073

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $59,229,886 · end of year $85,993,106

  • 2 · Savings and temporary cash investments

    beginning of year $110,924,743 · end of year $80,813,212

  • 4 · Accounts receivable

    beginning of year $61,506,873 · end of year $48,235,546

  • 7 · Other notes and loans receivable

    beginning of year $5,778,424,592 · end of year $5,585,044,428

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,702,944 · end of year $9,591,222

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

    $161,795,947

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

    $78,795,959

  • 10c · Land, buildings and equipment, net

    beginning of year $83,506,912 · end of year $82,999,988

  • 11 · Investments: publicly traded securities

    beginning of year $2,893,185,204 · end of year $2,526,762,908

  • 12 · Investments: other securities

    beginning of year $49,844,539 · end of year $27,020,350

  • 15 · Other assets

    beginning of year $205,393,341 · end of year $210,784,605

  • 17 · Accounts payable and accrued expenses

    beginning of year $75,843,710 · end of year $93,663,574

  • 19 · Deferred revenue

    beginning of year $1,280,000 · end of year $960,000

  • 23 · Secured mortgages and notes payable

    beginning of year $629,000,000 · end of year $400,000,000

  • 25 · Other liabilities

    beginning of year $7,921,287,491 · end of year $7,438,336,175

  • 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 $624,307,833 · end of year $724,285,616

Mission and programs · 2023

Mission

WE WANT TO BE METRO ATLANTA'S PREFERRED PLACE TO BANK, KNOWN FOR PROVIDING OUR MEMBERS WITH HONEST VALUE, SUPERIOR SERVICE AND TRUSTED ADVICE.

Activities or mission (Part I)

HELP MEMBERS REACH A LEVEL OF FINANCIAL AWARENESS AND STABILITY THAT AFFORDS THEM PEACE OF MIND.

  • DELTA COMMUNITY WAS FOUNDED IN 1940 BY EIGHT EMPLOYEES OF DELTA AIR LINES AND HAS BECOME GEORGIA'S LARGEST CREDIT UNION WITH MORE THAN $8 BILLION IN ASSETS AND 32 BRANCH LOCATIONS. IN ADDITION TO PROUDLY SERVING DELTA AIR LINES' EMPLOYEES, THE CREDIT UNION NOW WELCOMES RESIDENTS OF 16 METRO ATLANTA COUNTIES AND EMPLOYEES OF MORE THAN 130 OTHER BUSINESSES. WE ARE ACTIVELY INVOLVED WITH LOCAL CHAMBERS OF COMMERCE, SCHOOLS AND CHARITABLE ORGANIZATIONS TO THIS END AND EMBRACE THE OPPORTUNITY TO GIVE BACK TO THE COMMUNITIES WHERE WE LIVE, WORK, AND SERVE.

As filed on the 2023 return.

Listed in Part VII

  • Hank Halter

    PRESIDENT & CEO

    Total calculated
    $2,071,063
    From this org
    $1,587,637
    From related orgs
    $0
    Other
    $483,426
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $841,794
    Bonus
    $652,565
    Other
    $93,278
    Deferred
    $474,709
    Nontaxable benefits
    $8,717
    Filer's total
    $2,071,063

  • Pam Davis

    SVP BRANCH DELIVERY & OPERATIONS

    Total calculated
    $1,142,522
    From this org
    $1,041,450
    From related orgs
    $0
    Other
    $101,072
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $322,220
    Bonus
    $171,031
    Other
    $548,199
    Deferred
    $100,387
    Nontaxable benefits
    $685
    Filer's total
    $1,142,522

  • Matthew Shepherd

    EVP & COO

    Total calculated
    $1,077,225
    From this org
    $829,163
    From related orgs
    $0
    Other
    $248,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $496,771
    Bonus
    $300,097
    Other
    $32,295
    Deferred
    $225,618
    Nontaxable benefits
    $22,444
    Filer's total
    $1,077,225

  • Bob Manning

    SVP & GENERAL COUNSEL

    Total calculated
    $975,950
    From this org
    $847,720
    From related orgs
    $0
    Other
    $128,230
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $380,683
    Bonus
    $192,614
    Other
    $274,423
    Deferred
    $112,394
    Nontaxable benefits
    $15,836
    Filer's total
    $975,950

  • Jay Gratwick

    EVP & CFO

    Total calculated
    $914,845
    From this org
    $696,392
    From related orgs
    $0
    Other
    $218,453
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $418,333
    Bonus
    $253,700
    Other
    $24,359
    Deferred
    $194,409
    Nontaxable benefits
    $24,044
    Filer's total
    $914,845

  • Bob Walsh

    EVP & CLO

    Total calculated
    $900,491
    From this org
    $688,581
    From related orgs
    $0
    Other
    $211,910
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $418,333
    Bonus
    $247,911
    Other
    $22,337
    Deferred
    $192,962
    Nontaxable benefits
    $18,948
    Filer's total
    $900,491

  • Bill Buchanan

    SVP & CRO

    Total calculated
    $822,905
    From this org
    $724,219
    From related orgs
    $0
    Other
    $98,686
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,646
    Bonus
    $167,253
    Other
    $242,320
    Deferred
    $98,686
    Nontaxable benefits
    $0
    Filer's total
    $822,905

  • Bill Mesplay

    SVP REMOTE DELIVERY

    Total calculated
    $752,520
    From this org
    $654,362
    From related orgs
    $0
    Other
    $98,158
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $284,467
    Bonus
    $147,478
    Other
    $222,417
    Deferred
    $91,191
    Nontaxable benefits
    $6,967
    Filer's total
    $752,520

  • Tim Mitchell

    SVP & CIO

    Total calculated
    $655,759
    From this org
    $535,641
    From related orgs
    $0
    Other
    $120,118
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $339,724
    Bonus
    $180,735
    Other
    $15,182
    Deferred
    $104,469
    Nontaxable benefits
    $15,649
    Filer's total
    $655,759

  • Suzanne Mitchell

    SVP HR

    Total calculated
    $571,419
    From this org
    $467,589
    From related orgs
    $0
    Other
    $103,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,602
    Bonus
    $158,487
    Other
    $9,500
    Deferred
    $95,113
    Nontaxable benefits
    $8,717
    Filer's total
    $571,419

  • Julie Bates

    VP-RETIREMENT & INVESTMENTS

    Total calculated
    $478,020
    From this org
    $435,400
    From related orgs
    $0
    Other
    $42,620
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $336,942
    Bonus
    $90,727
    Other
    $7,731
    Deferred
    $26,400
    Nontaxable benefits
    $16,220
    Filer's total
    $478,020

  • Eric A Latimer

    VP-COMMERCIAL LENDING

    Total calculated
    $453,864
    From this org
    $403,420
    From related orgs
    $0
    Other
    $50,444
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,080
    Bonus
    $184,785
    Other
    $6,555
    Deferred
    $26,400
    Nontaxable benefits
    $24,044
    Filer's total
    $453,864

  • David Casey

    FINANCIAL ADVISOR

    Total calculated
    $425,641
    From this org
    $381,297
    From related orgs
    $0
    Other
    $44,344
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $342,731
    Bonus
    $35,742
    Other
    $2,824
    Deferred
    $23,100
    Nontaxable benefits
    $21,244
    Filer's total
    $425,641

  • Abdul Hussain

    VP-INFORMATION SECURITY

    Total calculated
    $418,095
    From this org
    $367,651
    From related orgs
    $0
    Other
    $50,444
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,269
    Bonus
    $108,606
    Other
    $2,776
    Deferred
    $26,400
    Nontaxable benefits
    $24,044
    Filer's total
    $418,095

  • Arpan Patel

    VP-ENTERPRISE RISK MANAGEMENT

    Total calculated
    $393,116
    From this org
    $343,872
    From related orgs
    $0
    Other
    $49,244
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,137
    Bonus
    $100,305
    Other
    $1,430
    Deferred
    $26,400
    Nontaxable benefits
    $22,844
    Filer's total
    $393,116

  • Charlie Boyajian

    DIRECTOR

    Total calculated
    $48,500
    From this org
    $48,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Linda O'Shea

    VICE CHAIRMAN

    Total calculated
    $37,700
    From this org
    $37,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lemual Wimbish

    SECRETARY & TREASURER

    Total calculated
    $37,700
    From this org
    $37,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robin Stricklin

    DIRECTOR

    Total calculated
    $36,950
    From this org
    $36,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jim Diffley

    CHAIRMAN

    Total calculated
    $34,500
    From this org
    $34,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Matt Sullivan

    DIRECTOR

    Total calculated
    $32,800
    From this org
    $32,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Esther Hammond

    DIRECTOR

    Total calculated
    $28,350
    From this org
    $28,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Allison Ausband

    DIRECTOR

    Total calculated
    $18,700
    From this org
    $18,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Alan Arnold

    DIRECTOR

    Total calculated
    $15,300
    From this org
    $15,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
THE ORGANIZATION HAS AUTHORIZED GYM DUES FOR ALL EMPLOYEES WHICH IS PAID THROUGH THEIR W-2. ADDITIONALLY, THE ORGANIZATION HAS AUTHORIZED TRAVEL FOR COMPANIONS AND FIRST CLASS TRAVEL FOR CERTAIN MEMBERS OF MANAGEMENT.
PART I, LINE 4B
THE CREDIT UNION HAS A 457(F) PLAN FOR VARIOUS MEMBERS OF MANAGEMENT. THE FOLLOWING 457(F) CONTRIBUTIONS WERE MADE BY THE CREDIT UNION DURING 2023: HANK HALTER - $448,309 MATTHEW SHEPARD - $199,218 JAY GRATWICK - $168,009 BOB WALSH - $166,562 BOB MANNING - $85,994 TIM MITCHELL - $78,069 BILL BUCHANAN - $72,286 PAM DAVIS - $73,987 SUZANNE MITCHELL - $68,713 BILL MESPLAY - $64,791 THE FOLLOWING 457(F) DISTRIBUTIONS WERE MADE BY THE CREDIT UNION DURING 2023: BILL BUCHANAN - $213,273 PAM DAVIS - $472,626 BOB MANNING - $239,148 BILL MESPLAY - $199,497

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

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MEMBERS INSURANCE ADVISORS LLC

    INSURANCE · GA · income $4,969,274 · assets $22,059,650

    Directly controlled by DELTA COMMUNITY CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349315276

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