0005 Wright-Patt Credit Union
- Assets
- $5.1b
- Revenue
- $301.8m
- Investments
- $615.8m
- Employees
- 1,153
- Location
- Beavercreek, OH
- Founding
- 04/1969
- Data as of
- 12/2019
- EIN
- 31-0278870
Organization Overview
0005 Wright-Patt Credit Union is located in Beavercreek, OH. The organization was established in 1969. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, 0005 Wright-Patt Credit Union employed 1,153 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 0005 Wright-Patt Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2019, 0005 Wright-Patt Credit Union generated $301.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $225.8m during the year ending 12/2019. While expenses have increased by 9.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THRIFT SAVINGS, BORROWING, AND FINANCIAL SERVICES AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVIDENDS PAID TO MEMBERS ON APPROXIMATELY 875,000 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 399,523 MEMBERS (DIVIDENDS $57,327,228; INCLUDING A SPECIAL PATRONAGE DIVIDEND OF $10,180,089).
DIRECT LABOR AND EMPLOYEE BENEFITS COSTS INCURRED TO PROVIDE DEPOSIT SERVICES, ORIGINATE LOANS, AND SERVICE LOANS FOR MEMBERS TOTALED $71,575,468.
BRANCH OFFICE OCCUPANCY AND OPERATIONS SERVICES 31 BRICK AND MORTAR BRANCHES PLUS TWO CALL CENTERS PROVIDES PHYSICAL LOCATION FOR PERSON TO PERSON FINANCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Fecher President & CEO | Officer | 40 | $921,900 |
Darrick Weeks 11-73 Former Chief Operating Officer | Officer | 40 | $864,324 |
Timothy Mislansky Chief Strategy Officer | Officer | 40 | $443,252 |
Steven Harrell Director Retirement Solutions | 40 | $394,045 | |
Eric Bugger Chief Lending Officer | Officer | 40 | $355,040 |
Rosanne Schutzman Chief Operating Officer | Officer | 40 | $346,032 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Visa Usa Financial Services | 12/30/19 | $4,838,674 |
The Ohlmann Group Advertising | 12/30/19 | $1,668,686 |
Jack Henry Associates Inc Technology Services | 12/30/19 | $1,307,401 |
Ncr Corporation Technology Services | 12/30/19 | $3,286,063 |
Presidio Networked Solutions Group Technology Services | 12/30/19 | $885,508 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $277,391,210 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,418,792 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $301,810,002 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $131,092 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,709,057 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,899,533 |
| Pension plan accruals and contributions | $2,078,696 |
| Other employee benefits | $9,256,392 |
| Payroll taxes | $4,188,412 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $557,506 |
| Fees for services: Accounting | $307,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $152,024 |
| Fees for services: Other | $2,893,385 |
| Advertising and promotion | $3,879,606 |
| Office expenses | $4,776,436 |
| Information technology | $3,004,791 |
| Royalties | $0 |
| Occupancy | $5,992,954 |
| Travel | $457,464 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86,816 |
| Interest | $51,236,033 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,613,115 |
| Insurance | $462,797 |
| All other expenses | $5,111,662 |
| Total functional expenses | $225,776,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286,919,148 |
| Savings and temporary cash investments | $250,800,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $27,601,431 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,657,885,422 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,498,454 |
| Net Land, buildings, and equipment | $58,820,767 |
| Investments—publicly traded securities | $45,511,089 |
| Investments—other securities | $615,771,969 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $145,120,283 |
| Total assets | $5,091,928,563 |
| Accounts payable and accrued expenses | $25,153,681 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $229,743,982 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,253,214,286 |
| Total liabilities | $4,508,111,949 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $583,816,614 |
| Total liabilities and net assets/fund balances | $5,091,928,563 |
Grants Awarded
Over the last fiscal year, 0005 Wright-Patt Credit Union has awarded $78,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Dayton, OH PURPOSE: GENERAL SUPPORT | $18,500 |
Xenia, OH PURPOSE: GENERAL SUPPORT | $15,000 |
Columbus, OH PURPOSE: GENERAL SUPPORT | $15,000 |
Dayton, OH PURPOSE: GENERAL SUPPORT | $10,000 |
Washington, DC PURPOSE: GENERAL SUPPORT | $10,000 |
Dayton, OH PURPOSE: GENERAL SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 0005 Wright-Patt Credit Union has recieved totaling $38,000.
| Awarding Organization | Amount |
|---|---|
Ohio Credit Union Foundation Columbus, OH PURPOSE: SAVINGS RACE PROGRAMMING | $38,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
0005 Wright-Patt Credit Union Beavercreek, OH | $5,091,928,563 | $301,810,002 |
Accesslex Institute West Chester, PA | $3,251,661,264 | $153,290,505 |
Pheaa Student Loan Foundation Inc Harrisburg, PA | $3,029,973,651 | $118,674,188 |
Credit Unions Chartered In The State Of Michigan Lansing, MI | $746,558,780 | $43,479,866 |
Credit Unions Chartered In The State Of Michigan Flint, MI | $569,725,643 | $30,884,823 |
Anabaptist Financial Lewisburg, PA | $537,648,729 | $20,627,336 |
Sharefax Credit Union Inc Cincinnati, OH | $430,891,781 | $16,755,561 |
0053 Ih Credit Union Springfield, OH | $291,987,881 | $15,244,026 |
Opportunity Finance Network Philadelphia, PA | $152,045,945 | $16,457,655 |
544 C E S Credit Union Inc Mount Vernon, OH | $148,510,347 | $7,952,688 |
Friends Fiduciary Corporation Philadelphia, PA | $528,552,513 | $4,597,969 |
1087 Millstream Area Credit Union Inc Findlay, OH | $45,423,986 | $3,772,125 |