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Post Office Credit Union

Madison, WIUnknown exempt organizationEIN 39-0736798Revenue $1.1M in FY2020

On file with the IRSpocu.com151 West Corporate Drive · Madison, WI

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Post Office Credit Union is a member-owned, nonprofit financial cooperative, whose purpose is to provide friendly, convenient and competitive family financial services to members while maintaining financial integrity.

Run by 9 volunteers and 4 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$428K
to officers and key staff · 38% of spending
Concern: pay to officers and key staff is 38% of spending; over 30%.
Pt VII · Sec A
Cash reserves
126 mo
of spending, in cash
Looks good: 125.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
Spent
$1.1M
To programs
0%
Net assets
$7.6M

From the FY2020 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

18 people listed on the 990; $428K paid to officers and key staff.

Part VII, Section A · reportable compensation
Kevin Yaeger
President/Ce
$279,798Pt VII · Sec A
$80,394Pt VII · Sec A
Kevin Yaeger
President/Ce
$45,501Pt VII · Sec A
$22,324Pt VII · Sec A
$0Pt VII · Sec A
Louis Antoine
Secretary
$0Pt VII · Sec A
Rodney Lothe
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Post Office Credit Union executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers friendly, convenient, and competitive family financial services to members.

Questions for Post Office Credit Union

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Provided by the organization

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4 programs · in their own filed words · FY2020
01

The credit union has several types of loan programs available for our members. We funded 55 new loans during 2021 prior to merger. As of 03/31/2021 we had 1,249 loans to our members prior to our merger.

Pt IX · col B
02

The credit union has various types of deposit accounts available for our members. We opened 20 new deposit accounts in 2021 prior to merger. As of 03/31/2021 we had 2,973 members prior to our merger.

Pt IX · col B
03

The credit union has several types of loan programs available for our members. We funded 341 new loans during 2020. As of 12/31/20 we had 1,390 loans to our members.

Pt IX · col B
04

The credit union has various types of deposit accounts available for our members. We opened 90 new deposit accounts in 2020. As of 12/31/20 we had 3,153 members.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.1M
Ln 12
Other incomeLn 4–11$966K
Fees for servicesLn 2g$180K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$7.6M
net assets · Ln 32
Cash and savingsLn 1–2$11.7M
Total assetsLn 16$35.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
18
listed · VII A
PaidVII A4
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$180K
Other incomeLn 4–11$966K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$11.7M
Total assetsLn 16$35.9M
LiabilitiesLn 26$0
Net assetsLn 32$7.6M
OperationsPt I, VI
EmployeesI 54
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $1.1M$1.1M$29K$7.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (1 part)
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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