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Nonprofiteer
← PREMIER AMERICA CREDIT UNION

Form 990 for tax year 2024

Filed by PREMIER AMERICA CREDIT UNION.

Totals

Total revenue
$172,505,825
Total expenses
$181,541,379
Contributions and grants received
$0
Grants paid
$462,112
Program service revenue
$148,718,106
Investment income
$23,787,719
Other revenue
$0
Total assets, end of year
$3,396,098,525
Total liabilities, end of year
$3,089,186,009
Net assets or fund balances, end of year
$306,912,516
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: INCOME FROM MEMBER LOANS

    total $132,837,705 · related or exempt $132,837,705

  • 2b · Program service revenue: INTERCHANGE INCOME

    total $6,143,142 · related or exempt $6,143,142

  • 2c · Program service revenue: SERVICE CHARGES & OTHER FEES

    total $4,552,180 · related or exempt $4,275,631 · unrelated business $276,549

  • 2d · Program service revenue: INVESTMENT BROKERAGE COMMISSIONS

    total $3,161,192 · related or exempt $3,161,192

  • 2e · Program service revenue: OTHER NON-INTEREST INCOME

    total $2,023,887 · related or exempt $521,155 · unrelated business $1,502,732

  • 3 · Investment income

    total $25,582,098 · excluded $25,582,098

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

    other assets $1,794,379

  • 7c · Gain or loss

    other assets -$1,794,379

  • 7d · Net gain or loss

    total -$1,794,379 · excluded -$1,794,379

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $462,112

  • 5 · Compensation of officers, directors and key employees

    total $9,673,502

  • 7 · Other salaries and wages

    total $33,237,213

  • 8 · Pension plan contributions

    total $2,019,122

  • 9 · Other employee benefits

    total $2,965,032

  • 10 · Payroll taxes

    total $2,940,427

  • 11b · Fees: legal

    total $479,905

  • 11c · Fees: accounting

    total $580,119

  • 11g · Fees: other

    total $2,222,532

  • 12 · Advertising and promotion

    total $5,917,291

  • 13 · Office expenses

    total $10,706,461

  • 14 · Information technology

    total $5,550,257

  • 15 · Royalties

    total $346,628

  • 16 · Occupancy

    total $3,958,450

  • 17 · Travel

    total $439,703

  • 19 · Conferences, conventions and meetings

    total $485,858

  • 20 · Interest

    total $10,525,363

  • 22 · Depreciation, depletion and amortization

    total $1,220,995

  • 23 · Insurance

    total $294,348

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBE

    total $82,499,006

  • 24b · Other expenses: LOAN PROCESSING EXPENSE

    total $3,030,829

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $216,000

  • 24d · Other expenses: TAX EXPENSE

    total $43,201

  • 24e · All other expenses

    total $1,727,025

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $115,129,040 · end of year $298,660,453

  • 4 · Accounts receivable

    beginning of year $12,560,193 · end of year $11,283,726

  • 5 · Loans and receivables from officers and key people

    beginning of year $5,637,749 · end of year $7,552,100

  • 7 · Other notes and loans receivable

    beginning of year $2,926,004,905 · end of year $2,687,836,393

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,892,970 · end of year $3,718,401

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

    $44,221,800

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

    $25,343,018

  • 10c · Land, buildings and equipment, net

    beginning of year $18,310,139 · end of year $18,878,782

  • 11 · Investments: publicly traded securities

    beginning of year $331,539,078 · end of year $288,313,263

  • 12 · Investments: other securities

    beginning of year $15,000,000 · end of year $15,000,000

  • 14 · Intangible assets

    beginning of year $1,034,434 · end of year $368,664

  • 15 · Other assets

    beginning of year $44,266,265 · end of year $64,486,743

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,861,061 · end of year $1,110,005

  • 19 · Deferred revenue

    beginning of year $266,667 · end of year $152,382

  • 23 · Secured mortgages and notes payable

    beginning of year $280,000,000 · end of year $50,000,000

  • 25 · Other liabilities

    beginning of year $2,859,275,117 · end of year $3,037,923,622

  • 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 $309,971,928 · end of year $306,912,516

Mission and programs · 2024

Mission

A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, PREMIER AMERICA CREDIT UNION (THE CREDIT UNION) CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS

Activities or mission (Part I)

A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST ITS MEMBERS.

  • PREMIER AMERICA CREDIT UNION ENCOURAGED AND PROMOTED SAVINGS AND ACQUIRED 12,239 NEW MEMBERS IN 2024. TOTAL MEMBERSHIP STOOD AT 112,201 AS OF DECEMBER 31, 2024 WHILE THE ORGANIZATION CONTINUED TO PAY MEMBERS FAVORABLE DIVIDEND RATES ON THEIR SAVINGS.

  • PREMIER AMERICA CREDIT UNION CONTINUED TO MEET THE MORTGAGE NEEDS OF FIRST-TIME HOME BUYERS. DURING THE YEAR, THE ORGANIZATION GRANTED 362 REAL ESTATE LOANS.

  • PREMIER AMERICA CREDIT UNION'S CORE VALUES AND PURPOSE DRIVE OUR COMMITMENT TO SERVING MEMBERS AND LOCAL COMMUNITIES. IN 2024 OUR DEDICATION TO GIVING BACK WAS OF PARAMOUNT IMPORTANCE AS PREMIER AMERICA CREDIT UNION DONATED $381,983 TO LOCAL CHARITIES AND COMMUNITY ORGANIZATIONS AND TEAM MEMBERS INVESTED OVER 600 HOURS OF SERVICE TO NONPROFIT ORGANIZATIONS. PREMIER AMERICA CREDIT UNION IS FOCUSED ON PROVIDING SAFE, RESPONSIBLE AND AFFORDABLE FINANCIAL SERVICES TO HELP MEMBERS REACH THEIR DREAMS.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gary Holmen

    DIRECTOR

    Total calculated
    $7,527
    From this org
    $7,527
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joann Klonowski

    CHAIR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bill Hampel

    SECRETARY/TREASURER

    Total calculated
    $5,367
    From this org
    $5,367
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Larry Martin

    DIRECTOR

    Total calculated
    $3,504
    From this org
    $3,504
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • William Cole

    DIRECTOR

    Total calculated
    $1,055
    From this org
    $1,055
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Larry Colson

    DIRECTOR

    Total calculated
    $1,478
    From this org
    $1,478
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mechelle Best

    DIRECTOR

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Eric Goldner

    DIRECTOR

    Total calculated
    $817
    From this org
    $817
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Eva Gomez

    VICE CHAIR

    Total calculated
    $3,853
    From this org
    $3,853
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Rodolfo Pereira

    PRESIDENT & CEO

    Total calculated
    $6,182,498
    From this org
    $6,121,092
    From related orgs
    $0
    Other
    $61,406
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $787,991
    Bonus
    $336,822
    Other
    $4,996,279
    Deferred
    $20,700
    Nontaxable benefits
    $40,706
    Filer's total
    $6,182,498

  • Ie-Chen Cheng

    CHIEF FINANCIAL OFFICER

    Total calculated
    $613,661
    From this org
    $581,286
    From related orgs
    $0
    Other
    $32,375
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $410,866
    Bonus
    $170,420
    Other
    $0
    Deferred
    $15,951
    Nontaxable benefits
    $16,424
    Filer's total
    $613,661

  • Toni Daniels

    CHIEF RISK & COMPLIANCE OFFICER

    Total calculated
    $497,494
    From this org
    $461,750
    From related orgs
    $0
    Other
    $35,744
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,379
    Bonus
    $134,371
    Other
    $0
    Deferred
    $15,515
    Nontaxable benefits
    $20,229
    Filer's total
    $497,494

  • Ernesto Norona

    CHIEF OPERATIONS OFFICER

    Total calculated
    $564,690
    From this org
    $496,462
    From related orgs
    $0
    Other
    $68,228
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $346,060
    Bonus
    $150,402
    Other
    $0
    Deferred
    $19,835
    Nontaxable benefits
    $48,393
    Filer's total
    $564,690

  • Marcia Girardi

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $509,014
    From this org
    $459,511
    From related orgs
    $0
    Other
    $49,503
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,250
    Bonus
    $132,261
    Other
    $0
    Deferred
    $17,743
    Nontaxable benefits
    $31,760
    Filer's total
    $509,014

  • David Fitzgerald

    CHIEF LENDING OFFICER

    Total calculated
    $461,911
    From this org
    $432,007
    From related orgs
    $0
    Other
    $29,904
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $307,032
    Bonus
    $124,975
    Other
    $0
    Deferred
    $19,143
    Nontaxable benefits
    $10,761
    Filer's total
    $461,911

  • Shelley Tam

    CHIEF PEOPLE OFFICER

    Total calculated
    $453,919
    From this org
    $385,552
    From related orgs
    $0
    Other
    $68,367
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $270,857
    Bonus
    $114,695
    Other
    $0
    Deferred
    $20,332
    Nontaxable benefits
    $48,035
    Filer's total
    $453,919

  • Jason Wolkove

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $365,714
    From this org
    $310,860
    From related orgs
    $0
    Other
    $54,854
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $301,255
    Bonus
    $9,605
    Other
    $0
    Deferred
    $12,404
    Nontaxable benefits
    $42,450
    Filer's total
    $365,714

  • Kelly Karren

    FINANCIAL ADVISOR

    Total calculated
    $544,830
    From this org
    $511,165
    From related orgs
    $0
    Other
    $33,665
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $61,440
    Bonus
    $449,725
    Other
    $0
    Deferred
    $19,509
    Nontaxable benefits
    $14,156
    Filer's total
    $544,830

  • Anthony Velarde

    FINANCIAL ADVISOR

    Total calculated
    $389,616
    From this org
    $346,546
    From related orgs
    $0
    Other
    $43,070
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $58,769
    Bonus
    $287,777
    Other
    $0
    Deferred
    $19,195
    Nontaxable benefits
    $23,875
    Filer's total
    $389,616

  • Tamara Scott

    VP, RETAIL DELIVER

    Total calculated
    $327,183
    From this org
    $275,901
    From related orgs
    $0
    Other
    $51,282
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,260
    Bonus
    $36,641
    Other
    $0
    Deferred
    $10,474
    Nontaxable benefits
    $40,808
    Filer's total
    $327,183

  • Charles Kim

    VP, COMMERCIAL LENDING

    Total calculated
    $295,913
    From this org
    $271,452
    From related orgs
    $0
    Other
    $24,461
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,694
    Bonus
    $37,758
    Other
    $0
    Deferred
    $15,864
    Nontaxable benefits
    $8,597
    Filer's total
    $295,913

  • Ye Su

    VP, WEALTH MANAGEMENT

    Total calculated
    $381,579
    From this org
    $335,384
    From related orgs
    $0
    Other
    $46,195
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,893
    Bonus
    $117,491
    Other
    $0
    Deferred
    $20,654
    Nontaxable benefits
    $25,541
    Filer's total
    $381,579

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS - PREMIER AMERICA CREDIT UNION WILL PAY FOR THE SPOUSE OR ONE COMPANION'S PLANE FARE FOR OUT OF TOWN OFFICIAL TRAVELS (CONFERENCES), HOTEL ACCOMMODATIONS (SHARED ROOM) AND MEALS. WILLIAM COLE, LARRY COLSON, EVA GOMEZ, ERIC GOLDNER, BILL HAMPEL, GARY HOLMEN, AND LARRY MARTIN RECEIVED THIS BENEFIT IN 2024. THE AMOUNTS ARE REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II.
PART I, LINE 4B
RODOLFO PEREIRA, PRESIDENT & CEO, PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN IN 2024 SPONSORED BY PREMIER AMERICA CREDIT UNION. THERE WERE NO CONTRIBUTIONS TO THE PLAN IN 2024. THE DISTRIBUTION AMOUNT SHOWN BELOW IS INCLUDED IN OTHER REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II: RODOLFO PEREIRA - $4,996,279 THE DEFINED BENEFIT LIABILITY ACCRUAL AMOUNT SHOWN BELOW IS NOT INCLUDED AS DEFERRED COMPENSATION ON FORM 990, PART VII OR SCHEDULE J, PART II AS IT WAS PAID OUT IN THE CURRENT TAX YEAR. RODOLFO PEREIRA - $293,024

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

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202503179349302070

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