Overview
What is Alabama Postal Credit Union?
Alabama Postal Credit Union is a cooperative financial institution, established under the Code of Alabama, with the primary goal of fostering savings among its members and offering them affordable credit opportunities. As an Alabama State-chartered credit union, it caters exclusively to Postal Employees and their families, providing a range of financial services. As of December 31, 2022, the Credit Union serves around 820 members, demonstrating its commitment to its community. Based in Birmingham, Alabama, it offers its services through a PO Box located in the city. The Credit Union's mission aligns with the principles outlined in Section 5-17-1 of the Code of Alabama, ensuring a balanced focus on promoting thrift and providing credit at reasonable rates.
Official website here: www.alabamapostalcu.com
Is Alabama Postal Credit Union legitimate?
Alabama Postal Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Alabama Postal 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: $66,917
Professional Fundraising Fees: $0
Other Salaries and Wages: $64,662
For more financial information, click here
Official website here: www.alabamapostalcu.com
What is the mission statement of Alabama Postal Credit Union?
The Alabama Postal Credit Union, as per its legal mandate outlined in the Code of Alabama SEC 5-17-1, functions as a cooperative society with a twofold purpose. Its primary objective is to stimulate financial savings among its members, and secondly, to serve as a reliable source of credit for them at reasonable interest rates. This credit union, specifically chartered in Alabama, caters to Postal Employees and their families, offering a range of financial services. As of December 31, 2022, the Credit Union had approximately 820 members benefiting from its services.
Official website here: www.alabamapostalcu.com
Who is the CEO of Alabama Postal Credit Union?
Randy V Allen is the CEO of Alabama Postal Credit Union The CEO's salary of Alabama Postal Credit Union is $66,917 and their total compensation is $66,917.
Official website here: www.alabamapostalcu.com
What is the revenue of Alabama Postal Credit Union?
Alabama Postal Credit Union's revenue in 2024 was $460,145.
Official website here: www.alabamapostalcu.com
Who are the executives of Alabama Postal Credit Union and what are their salaries?
The average compensation at Alabama Postal Credit Union during 2024 was $32,895. There are 4 employees and 8 volunteers at Alabama Postal Credit Union.
Here are 9 key members and their salaries (Alabama Postal Credit Union's CEO's salary is $66,917 and their total compensation is $66,917):
- Compensation: $66,917
- 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.alabamapostalcu.com
Where can I find the form 990 for Alabama Postal Credit Union?
Alabama Postal Credit Union's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.alabamapostalcu.com
Learn more at the official website: www.alabamapostalcu.com
Mission Statement of Alabama Postal Credit Union
Alabama Postal Credit Union, as a cooperative society, is established with a dual objective. Its primary mission is to foster savings among its member base, encouraging thrift. Simultaneously, the credit union serves as a reliable source of credit for its members, offering loans at reasonable interest rates. As per the Code of Alabama SEC 5-17-1, this is the core purpose of any credit union. Alabama Postal Credit Union, a state-chartered credit union, caters specifically to Postal Employees and their families, offering a variety of financial services. As of December 31, 2022, this credit union has extended its services to approximately 820 members.
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Impact
October, 2024
Alabama Postal Credit Union plays a significant role in fostering financial stability and community support for its members, primarily postal employees and their families in Birmingham, Alabama. By promoting thrift and providing access to credit at legitimate interest rates, the Credit Union empowers its members to manage their finances more effectively.
With a membership of approximately 820 as of December 31, 2022, the Credit Union offers a range of financial services tailored to the unique needs of postal workers. This cooperative not only facilitates smoother financial transactions but also strengthens the sense of community and mutual assistance among its members. Through its operations, Alabama Postal Credit Union champions the principles of financial literacy and responsibility, contributing positively to the economic well-being of its members and the broader community.
This information is meant to be a general summary of Alabama Postal 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 2024.
- Program Service Revenue: $460,145
- Gross Receipts: $460,145
Assets and Liabilities:
- Total Assets: $5,604,390
- Total Liabilities: $3,250,748
- Net Assets: $2,353,642
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest on Loans
Revenue
$259,576
Investment Income
Revenue
$188,073
Fees and Charges
Revenue
$12,496
Organization Details
Founding Year
1927
Principal Officer
Randy V Allen
Website
www.alabamapostalcu.comNTEE Category
Code: W610 - Public benefit
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