Nonprofit · EIN 58-6035220
1ST CHOICE CREDIT UNION
Tax-exempt (reinstated) · ATLANTA, GA 30303
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2023 | 990 | $3,398,540 | $3,289,664 | $108,876 | $40,163,724 | $36,689,343 | $3,474,381 |
Financial details: 990 for the year ended December 31, 2023
Revenue
- Contributions, gifts and grants
- $635,665
- Program service revenue
- $2,154,834
- Investment income
- $356,727
- Other revenue
- $251,314
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $203,206
- Other salaries and wages
- $732,114
- Salaries, compensation and benefits (total)
- $1,137,595
- Professional fundraising fees
- $0
- Legal fees
- $13,991
- Accounting fees
- $23,375
- Occupancy
- $56,917
- Travel
- $9,145
- Depreciation
- $58,009
Balance sheet and other
- Total assets, start of year
- $38,566,816
- Total assets, end of year
- $40,163,724
- Total liabilities, end of year
- $36,689,343
- Net assets, end of year
- $3,474,381
- Land, buildings and equipment
- $1,460,749
- Gross unrelated business income
- $7,791
- Gross receipts
- $3,398,540
- Employees
- 13
- Year formed
- 1946
- State of legal domicile
- GA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2023, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dina Hairston | COO Officer | 0 | $156,583 |
| Claudie Johnson | CEO Officer | 0 | $46,623 |
| Paresh Patel | Technology Committee Chair Trustee or director | 3 | $0 |
| Sheilah Montgomery | Board Secretary Trustee or director | 3 | $0 |
| Charlene Turner | Director Trustee or director | 3 | $0 |
| Howard Mosby | Chairman of the Board Trustee or director | 3 | $0 |
| James E Wright Sr | Nominating Committee Chair Trustee or director | 3 | $0 |
| Reginald Lindsay | Credit Committee Chair Trustee or director | 3 | $0 |
| Eddie Cheung | Supervisory Committee Chair Trustee or director | 3 | $0 |
| Alonzo Llorens | Vice Chairman Trustee or director | 3 | $0 |
| Marsha Hahn | CEO Officer | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 315 AUBURN AVE NE, ATLANTA, GA 30303-2603
- Signed the 990
- Marsha Hahn, CEO
- Website
- www.1stchoicecu.org
- Return prepared by
- Alliance CPA Group
Mission
1ST CHOICE CREDIT UNION IS A NOT FOR PROFIT COOPERATIVE (OWNED BY THE MEMBERS), FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBERS AT BETTER RATES THAN THOSE AVAILABLE FROM OTHER SOURCES.
Program accomplishments
- Earnings from Investments - the excess of funds recieved from members over the amount loaned to members, as well as accumulated surpluse, is invested in securites allowed by the NCUA and the credit unions governing documents.
- Fee Income - fees and charges are assessed to members for financial services. These fees generate the revenue necessary to pay the cost to provide these services.
- Loans - interest is charged at lower than market rates to provide loan products to members. Loans include home mortgages and automobile loans. Members benefit from lower rates with the 1st Choice Credit Union, comparing to other lending instituions.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | Not on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 58-6035220
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Exempt since
- 2019
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W61)
- Assets (IRS master file)
- $40,163,724
- Income (IRS master file)
- $3,398,540
Revocation and reinstatement
- Exemption revoked
- May 15, 2018
- Posted by the IRS
- August 13, 2018
- Reinstated
- Effective May 15, 2018
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2023 | $3,398,540 | $3,289,664 | $40,163,724 | XML |
| 990 | December 2022 | $2,929,507 | $2,273,779 | $38,566,816 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-6035220).
Questions about 1ST CHOICE CREDIT UNION
- What is the EIN of 1ST CHOICE CREDIT UNION?
- The employer identification number (EIN) of 1ST CHOICE CREDIT UNION is 58-6035220.
- Is 1ST CHOICE CREDIT UNION tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2018 and reinstated it effective May 15, 2018.
- Which annual return does 1ST CHOICE CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of 1ST CHOICE CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did 1ST CHOICE CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2023.
- Who are the officers and directors of 1ST CHOICE CREDIT UNION?
- The 990 for the year ended December 31, 2023 lists 11 people; 2 received compensation from the organization, the highest $156,583 (Dina Hairston, COO).
- How much revenue does 1ST CHOICE CREDIT UNION have?
- On its 990 for the year ended December 31, 2023 it reported revenue of $3,398,540, expenses of $3,289,664 and total assets of $40,163,724 at year end.
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