Overview
What is 1st Choice Credit Union?
1st Choice Credit Union is a member-owned, not-for-profit financial institution situated in Atlanta, Georgia, specifically at 315 Auburn Avenue. The primary purpose of this cooperative is to foster thrift among its members and offer them credit at more favorable rates than other sources. To achieve this, the credit union invests excess funds received from members beyond what is lent, along with accumulated surpluses, in securities permitted by the National Credit Union Administration and the credit union's governing documents. With a workforce of around 20 employees, 1st Choice Credit Union serves its members by promoting savings and providing affordable loans.
Official website here: www.1stchoicecu.org
Is 1st Choice Credit Union legitimate?
1st Choice Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. 1st Choice Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $364,520
Professional Fundraising Fees: $0
Other Salaries and Wages: $397,543
For more financial information, click here
Official website here: www.1stchoicecu.org
What is the mission statement of 1st Choice Credit Union?
1st Choice Credit Union is a member-owned, not-for-profit financial institution established with the primary goal of promoting thrift and providing credit to its members at more favorable rates than those available elsewhere. This cooperative operates on the principle of pooling resources, where earnings from investments, which exceed the amount lent to members, are invested in securities as per the guidelines set by the National Credit Union Administration (NCUA) and the credit union's governing documents. The mission of 1st Choice Credit Union is to serve its members effectively, offering them better financial services and opportunities for savings and borrowing.
Official website here: www.1stchoicecu.org
Who is the CEO of 1st Choice Credit Union?
Dina Hairston is the Ceo of 1st Choice Credit Union. The CEO's salary of 1st Choice Credit Union is $36,250 and their total compensation is $36,250.
Official website here: www.1stchoicecu.org
What is the revenue of 1st Choice Credit Union?
1st Choice Credit Union's revenue in 2022 was $2,929,507.
Official website here: www.1stchoicecu.org
Who are the executives of 1st Choice Credit Union and what are their salaries?
The average compensation at 1st Choice Credit Union during 2022 was $38,103. There are 20 employees at 1st Choice Credit Union.
Here are 11 key members and their salaries (1st Choice Credit Union's CEO's salary is $36,250 and their total compensation is $36,250):
- Compensation: $168,270
- Related: $0
- Other: $0
- Compensation: $160,000
- Related: $0
- Other: $0
- Compensation: $36,250
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.1stchoicecu.org
Where can I find the form 990 for 1st Choice Credit Union?
1st Choice Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.1stchoicecu.org
Learn more at the official website: www.1stchoicecu.org
Mission Statement of 1st Choice Credit Union
1st Choice Credit Union, as a not-for-profit cooperative, is dedicated to promoting thrift and providing credit to its members at more favorable rates than those available from other sources. This financial institution, owned by its members, operates with a mission to serve its community by offering better financial opportunities. By investing the excess funds received from members over the amount loaned, and accumulated surpluses, 1st Choice Credit Union invests in securities permitted by the National Credit Union Administration (NCUA) and the credit union's governing documents. This strategic investment approach enables the credit union to enhance its financial stability and serve its members more effectively, thereby fulfilling its mission to promote thrift and provide credit at competitive rates.
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Impact
October, 2024
1st Choice Credit Union significantly impacts its community by providing members with access to affordable financial services that promote savings and responsible borrowing. By operating as a cooperative owned by its members, the credit union ensures that profits are reinvested into the organization, which enables it to offer better rates on loans and higher returns on savings compared to traditional financial institutions.
Located in Atlanta, Georgia, 1st Choice Credit Union fosters a culture of thrift and financial responsibility among its members. The funds generated from member deposits are prudently invested in securities approved by the National Credit Union Administration (NCUA), further enhancing financial stability and growth. This approach not only benefits individual members but also contributes to the overall economic well-being of the community by encouraging financial literacy and supporting the local economy.
Through its commitment to better rates and member-focused services, 1st Choice Credit Union plays a vital role in empowering individuals and families to achieve their financial goals, which ultimately leads to a stronger, more resilient community.
This information is meant to be a general summary of 1st Choice Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $255,221
- Program Service Revenue: $1,389,562
- Gross Receipts: $2,929,507
Assets and Liabilities:
- Total Assets: $38,566,816
- Total Liabilities: $35,046,558
- Net Assets: $3,520,258
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Interest Income
Revenue
$928,828
Fee Income
Revenue
$460,734
Organization Details
Founding Year
1946
Principal Officer
Dina Hairston
Main Address
315 Auburn Avenue, Atlanta, GA, 30303
Website
www.1stchoicecu.orgNTEE Category
Code: W61 - Public benefit
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