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Nonprofiteer
← FIRST CITY CREDIT UNION

Form 990 for tax year 2025

Filed by FIRST CITY CREDIT UNION.

Totals

Total revenue
$44,588,286
Total expenses
$41,314,625
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$32,873,709
Investment income
$11,714,577
Other revenue
$0
Total assets, end of year
$937,393,420
Total liabilities, end of year
$852,903,426
Net assets or fund balances, end of year
$84,489,994
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: LOAN INCOME

    total $25,860,512 · related or exempt $25,860,512

  • 2b · Program service revenue: FEES & SERVICE CHARGES INCOME

    total $2,548,150 · related or exempt $2,283,040 · unrelated business $265,110

  • 2c · Program service revenue: INTERCHANGE INCOME

    total $2,319,142 · related or exempt $2,319,142

  • 2d · Program service revenue: OTHER INCOME

    total $2,145,905 · related or exempt $2,145,905

  • 3 · Investment income

    total $11,769,097 · excluded $11,769,097

  • 7b · Less cost or other basis and sales expenses

    other assets $54,520

  • 7c · Gain or loss

    other assets -$54,520

  • 7d · Net gain or loss

    total -$54,520 · excluded -$54,520

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,276,409

  • 7 · Other salaries and wages

    total $8,609,452

  • 8 · Pension plan contributions

    total $243,261

  • 9 · Other employee benefits

    total $893,751

  • 10 · Payroll taxes

    total $776,243

  • 11b · Fees: legal

    total $122,723

  • 11c · Fees: accounting

    total $152,474

  • 11g · Fees: other

    total $410,940

  • 12 · Advertising and promotion

    total $931,263

  • 13 · Office expenses

    total $3,547,472

  • 14 · Information technology

    total $4,626,699

  • 16 · Occupancy

    total $1,566,314

  • 19 · Conferences, conventions and meetings

    total $350,291

  • 20 · Interest

    total $1,973,857

  • 22 · Depreciation, depletion and amortization

    total $964,073

  • 23 · Insurance

    total $141,604

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBE

    total $6,260,409

  • 24b · Other expenses: PROVISON FOR LOAN LOSS

    total $3,482,752

  • 24c · Other expenses: VISA EXPENSES

    total $1,317,910

  • 24d · Other expenses: LOAN PROCESSING

    total $1,229,412

  • 24e · All other expenses

    total $1,437,316

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,724,897 · end of year $3,455,049

  • 4 · Accounts receivable

    beginning of year $11,252,231 · end of year $12,321,815

  • 5 · Loans and receivables from officers and key people

    beginning of year $10,898,597 · end of year $10,679,910

  • 7 · Other notes and loans receivable

    beginning of year $410,706,904 · end of year $440,460,914

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,333,852 · end of year $1,665,543

  • 10a · Land, buildings and equipment: cost or other basis

    $29,843,974

  • 10b · Land, buildings and equipment: accumulated depreciation

    $14,331,450

  • 10c · Land, buildings and equipment, net

    beginning of year $15,543,420 · end of year $15,512,524

  • 12 · Investments: other securities

    beginning of year $411,366,405 · end of year $429,985,924

  • 14 · Intangible assets

    beginning of year $72,064 · end of year $72,064

  • 15 · Other assets

    beginning of year $23,101,532 · end of year $23,239,677

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,262,274 · end of year $4,101,883

  • 23 · Secured mortgages and notes payable

    beginning of year $40,000,000 · end of year $40,000,000

  • 25 · Other liabilities

    beginning of year $777,557,335 · end of year $808,801,543

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $66,180,293 · end of year $84,489,994

Mission and programs · 2025

Mission

FIRST CITY CREDIT UNION (THE CREDIT UNION) EXISTS TO SERVE ITS MEMBERS. THE CREDIT UNION IS COMMITTED TO OFFER A BROAD RANGE OF QUALITY FINANCIAL SERVICES, DELIVERED AND PRICED TO PROVIDE GOOD VALUE. THE CREDIT UNION SHALL MAINTAIN FINANCIALLY SOUND AND ETHICAL PRACTICES TO MERIT CONFIDENCE AND TRUST.

Activities or mission (Part I)

TO PROVIDE HIGH QUALITY FINANCIAL SERVICES AND COMPETITIVE PRODUCTS TO OUR MEMBERS

  • RETAIL LENDING: FIRST CITY CREDIT UNION PROVIDES A FULL RANGE OF RETAIL LENDING PRODUCTS TO ITS MEMBERS, INCLUDING NEW AND USED AUTO FINANCING, REAL ESTATE MORTGAGES, UNSECURED LOANS, HOME EQUITY LINES OF CREDIT AND OTHER RETAIL CREDIT. WE ARE AMONG THE LEADING CREDIT UNIONS IN THE COUNTRY IN TERMS OF OUR RELATIVE CONCENTRATION OF SUCCESSFUL AUTO LENDING PRODUCTS, WHICH REPRESENT 30% OF OUR TOTAL LOANS. WE CONTINUE TO DEVELOP OUR LENDING CAPABILITIES AS A RELIABLE SOURCE OF CREDIT IN THE CHALLENGING ECONOMIC CONDITIONS OF THE PAST YEAR. AT 12/31/2025, FIRST CITY CREDIT UNION HAD 57,404 MEMBER LOANS OUTSTANDING WITH A TOTAL BALANCE OF $445,103,946.

  • DEPOSITS: FIRST CITY CREDIT UNION PROVIDES A FULL RANGE OF RETAIL DEPOSIT PRODUCTS TO ITS MEMBERS TO PROVIDE A SAFE AND INSURED INVESTMENT VEHICLE TO HELP FINANCIAL MANAGEMENT. THIS INCLUDES BOTH FIXED TERM CERTIFICATES OF DEPOSIT AND NON-MATURING DEPOSITS, SUCH AS MONEY MARKET ACCOUNTS. WE ALSO PROVIDE A FULL RANGE OF CHECKING ACCOUNT PRODUCTS THAT ALLOW OUR MEMBERS TO MANAGE THEIR DAY-TO-DAY FINANCES EFFECTIVELY THROUGH SERVICES SUCH AS DIRECT DEPOSIT OF PAYROLL AND ON-LINE BILL PAYMENT. OUR NETWORK OF 7 BRANCHES PROVIDE EASY ACCESS TO OUR DEPOSIT AS WELL AS OTHERS PRODUCTS. AT 12/31/2025, FIRST CITY CREDIT UNION HAD A TOTAL DEPOSIT BALANCE OF $805,161,868.

  • CARD SERVICES: FIRST CITY CREDIT UNION PROVIDES CREDIT CARDS AND DEBIT CARDS TO ITS MEMBERS. THESE CARDS PROVIDE MEMBERS WITH THE CASH MANAGEMENT TOOLS NECESSARY FOR MUCH OF THEIR ONGOING PURCHASES AND BILL PAYMENTS ON A DAILY BASIS. THEY ALSO PROVIDE MEMBERS WITH THE ABILITY TO MANAGE FINANCES WITH A VARIETY OF OPTIONS, E.G., DEFERRING PAYMENTS UNTIL CASH IS AVAILABLE TO PAY OR MAKING PURCHASES WITH A DIRECT DEBIT WHEN PHYSICAL CHECKS ARE NOT ACCEPTED BY A MERCHANT.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christopher Anderson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • John Benedict

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Carolyn Bernardez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Willa Glover

    FORMER VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Anabel Luna Giron

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marisa Lopez

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Grace Reyes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Steinberger

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Navneet Khanna

    CEO

    Total calculated
    $576,108
    From this org
    $515,669
    From related orgs
    $0
    Other
    $60,439
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $513,605
    Bonus
    $0
    Other
    $2,064
    Deferred
    $17,500
    Nontaxable benefits
    $42,939
    Filer's total
    $576,108

  • Lourdes Ruano

    SVP/CFO

    Total calculated
    $385,479
    From this org
    $330,400
    From related orgs
    $0
    Other
    $55,079
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,783
    Bonus
    $0
    Other
    $3,617
    Deferred
    $15,514
    Nontaxable benefits
    $39,565
    Filer's total
    $385,479

  • Alfredo Perez

    SVP/CLO

    Total calculated
    $265,245
    From this org
    $227,101
    From related orgs
    $0
    Other
    $38,144
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,755
    Bonus
    $0
    Other
    $5,346
    Deferred
    $11,485
    Nontaxable benefits
    $26,659
    Filer's total
    $265,245

  • Mary Rubio

    SVP/CHRO

    Total calculated
    $197,960
    From this org
    $177,198
    From related orgs
    $0
    Other
    $20,762
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,973
    Bonus
    $0
    Other
    $3,225
    Deferred
    $7,800
    Nontaxable benefits
    $12,962
    Filer's total
    $197,960

  • Lixa Anderson

    SVP/CIO

    Total calculated
    $283,051
    From this org
    $232,328
    From related orgs
    $0
    Other
    $50,723
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $231,224
    Bonus
    $0
    Other
    $1,104
    Deferred
    $12,321
    Nontaxable benefits
    $38,402
    Filer's total
    $283,051

  • Royce Ngiam

    SVP/CMO

    Total calculated
    $253,753
    From this org
    $207,089
    From related orgs
    $0
    Other
    $46,664
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,605
    Bonus
    $0
    Other
    $1,484
    Deferred
    $10,902
    Nontaxable benefits
    $35,762
    Filer's total
    $253,753

  • Samanthika Tate

    SVP/COO

    Total calculated
    $314,813
    From this org
    $285,730
    From related orgs
    $0
    Other
    $29,083
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $285,250
    Bonus
    $0
    Other
    $480
    Deferred
    $5,595
    Nontaxable benefits
    $23,488
    Filer's total
    $314,813

  • Mary Bolose

    FORMER VP, MEMBER SERVICES

    Total calculated
    $124,198
    From this org
    $117,591
    From related orgs
    $0
    Other
    $6,607
    Hours/week
    40

  • Oscar Toledo

    VP, ECOMMERCE & PAYMENTS

    Total calculated
    $202,315
    From this org
    $157,699
    From related orgs
    $0
    Other
    $44,616
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,267
    Bonus
    $0
    Other
    $432
    Deferred
    $8,510
    Nontaxable benefits
    $36,106
    Filer's total
    $202,315

  • Robert Herrera

    FORMER SR SYSTEM ADMIN

    Total calculated
    $139,569
    From this org
    $130,946
    From related orgs
    $0
    Other
    $8,623
    Hours/week
    40

  • Deborah Minero

    AVP, PROJECT MANAGEMENT

    Total calculated
    $169,474
    From this org
    $141,747
    From related orgs
    $0
    Other
    $27,727
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,607
    Bonus
    $0
    Other
    $5,140
    Deferred
    $6,882
    Nontaxable benefits
    $20,845
    Filer's total
    $169,474

  • Abdul Nabi Qani

    PROGRAMMER II

    Total calculated
    $160,796
    From this org
    $119,700
    From related orgs
    $0
    Other
    $41,096
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,699
    Bonus
    $0
    Other
    $1,001
    Deferred
    $6,532
    Nontaxable benefits
    $34,564
    Filer's total
    $160,796

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4A
FIRST CITY CREDIT UNION PAID MARY BOLOSE, FORMER VP OF MEMBER SERVICE, $70,000 AND ROBERT HERRERA, FORMER SR SYSTEM ADMIN, $43,416 IN SEVERANCE PAYMENTS DURING CALENDAR YEAR 2025. THESE AMOUNTS ARE INCLUDED ON FORM 990, PART VII AND SCHEDULE J, PART II AS OTHER REPORTABLE COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
18 September 2026
IRS schema version
2025v4.2
Source object
202632629349300403

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