Dec, 31, 2023 — PACIFIC POSTAL CREDIT UNION is a federally insured state chartered credit union headquartered in SAN JOSE, CA with 4 branch locations and about $236.50 million in total assets. Opened 93 years ago in 1931, PACIFIC POSTAL CREDIT UNION has about 12,957 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PACIFIC POSTAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1040 Leigh Ave SAN JOSE, CA 95126 |
| Phone: | (408) 275-8595 |
| Fax: | (408) 275-6870 |
| Website: | https://www.ppcu.org |
| Branches: | 4 branch locations |
| Members: | 12,957 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64835 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1931 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $236,503,850 |
| CEO/Manager: | Fardad Khosravi |
| Chairperson: | Roger Somer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,490,970 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 59,325,381 |
| Unsecured Loans | 17,049,027 |
| Other Loans | 30,619,574 |
| TOTAL LOANS | 106,993,982 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,050,948 |
| Land And Building | 116,198 |
| Other Fixed Assets | 64,965 |
| NCUSIF Deposit | 1,875,915 |
| All Other Assets | 12,941 |
| TOTAL ASSETS | 236,503,850 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,276,933 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,087,312 |
| Regular shares | 82,817,720 |
| All Other Shares & Deposits | 85,815,924 |
| TOTAL SHARES & DEPOSITS | 202,720,956 |
| TOTAL LIABILITIES | 203,997,889 |
| Regular Reserve | 0 |
| Other Reserves | -3,440,456 |
| Undivided Earnings | 35,946,417 |
| TOTAL EQUITY | 32,505,961 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 236,503,850 |
| INCOME & EXPENSE | |
| Loan Income | 5,108,964 |
| Investment Income | 4,237,695 |
| Other Income | 523,113 |
| Total Employee Compensation & Benefits | 3,551,821 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,430,068 |
| Non-operating Income & (Expense) | 646,422 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,560,442 |
| Cost of Funds | 1,487,932 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,485,931 |
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