Totals
- Total revenue
- $41,363,905
- Total expenses
- $37,175,695
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $29,124,111
- Investment income
- $12,239,794
- Other revenue
- $0
- Total assets, end of year
- $887,999,902
- Total liabilities, end of year
- $821,819,609
- Net assets or fund balances, end of year
- $66,180,293
- 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 $22,287,828 · related or exempt $22,287,828
-
2b · Program service revenue: FEES & SERVICE CHARGES INCOME
total $2,651,642 · related or exempt $2,450,876 · unrelated business $200,766
-
2c · Program service revenue: INTERCHANGE INCOME
total $2,208,369 · related or exempt $2,208,369
-
2d · Program service revenue: OTHER INCOME
total $1,976,272 · related or exempt $1,976,272
-
3 · Investment income
total $12,256,857 · excluded $12,256,857
-
7a · Gross sales of assets other than inventory
other assets $26,621
-
7b · Less cost or other basis and sales expenses
other assets $43,684
-
7c · Gain or loss
other assets -$17,063
-
7d · Net gain or loss
total -$17,063 · excluded -$17,063
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $2,028,955
-
7 · Other salaries and wages
total $7,696,711
-
8 · Pension plan contributions
total $234,157
-
9 · Other employee benefits
total $868,120
-
10 · Payroll taxes
total $680,921
-
11b · Fees: legal
total $88,175
-
11c · Fees: accounting
total $165,908
-
11g · Fees: other
total $619,979
-
12 · Advertising and promotion
total $839,393
-
13 · Office expenses
total $2,922,051
-
14 · Information technology
total $2,984,672
-
16 · Occupancy
total $1,477,331
-
19 · Conferences, conventions and meetings
total $295,651
-
20 · Interest
total $2,336,601
-
22 · Depreciation, depletion and amortization
total $1,212,156
-
23 · Insurance
total $126,277
-
24a · Other expenses: DIVIDENDS PAID TO MEMBE
total $5,585,377
-
24b · Other expenses: PROVISON FOR LOAN LOSS
total $4,030,722
-
24c · Other expenses: VISA EXPENSES
total $976,810
-
24d · Other expenses: LOAN PROCESSING
total $932,423
-
24e · All other expenses
total $1,073,305
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $7,812,240 · end of year $3,724,897
-
4 · Accounts receivable
beginning of year $2,261,251 · end of year $2,398,681
-
5 · Loans and receivables from officers and key people
beginning of year $10,837,751 · end of year $10,898,597
-
7 · Other notes and loans receivable
beginning of year $376,673,768 · end of year $410,706,904
-
9 · Prepaid expenses and deferred charges
beginning of year $1,282,753 · end of year $1,333,852
-
10a · Land, buildings and equipment: cost or other basis
$29,272,931
-
10b · Land, buildings and equipment: accumulated depreciation
$13,729,511
-
10c · Land, buildings and equipment, net
beginning of year $16,371,957 · end of year $15,543,420
-
12 · Investments: other securities
beginning of year $449,592,628 · end of year $411,366,405
-
14 · Intangible assets
beginning of year $72,064 · end of year $72,064
-
15 · Other assets
beginning of year $41,712,010 · end of year $31,955,082
-
17 · Accounts payable and accrued expenses
beginning of year $7,671,488 · end of year $4,262,274
-
23 · Secured mortgages and notes payable
beginning of year $70,000,000 · end of year $40,000,000
-
25 · Other liabilities
beginning of year $773,927,381 · end of year $777,557,335
-
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 $55,017,553 · end of year $66,180,293
Mission and programs · 2024
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 12/31/2024, FIRST CITY CREDIT UNION HAD 55,967 MEMBER LOANS OUTSTANDING WITH A TOTAL BALANCE OF $414,688,530.
-
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 12/31/2024, FIRST CITY CREDIT UNION HAD A TOTAL DEPOSIT BALANCE OF $773,364,852.
-
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 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Christopher AndersonCHRISTOPHER ANDERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John BenedictJOHN BENEDICT
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Carolyn BernardezCAROLYN BERNARDEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Willa GloverWILLA GLOVER
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Marisa LopezMARISA LOPEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael SteinbergerMICHAEL STEINBERGER
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Navneet KhannaNAVNEET KHANNA
CEO
- Total calculated
- $657,060
- From this org
- $601,824
- From related orgs
- $0
- Other
- $55,236
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $481,635
- Bonus
- $118,125
- Other
- $2,064
- Deferred
- $17,250
- Nontaxable benefits
- $37,986
- Filer's total
- $657,060
-
Lourdes RuanoLOURDES RUANO
EVP/CFO
- Total calculated
- $412,895
- From this org
- $359,041
- From related orgs
- $0
- Other
- $53,854
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $326,758
- Bonus
- $28,800
- Other
- $3,483
- Deferred
- $15,957
- Nontaxable benefits
- $37,897
- Filer's total
- $412,895
-
Alfredo PerezALFREDO PEREZ
SVP/CLO
- Total calculated
- $268,512
- From this org
- $232,220
- From related orgs
- $0
- Other
- $36,292
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $212,137
- Bonus
- $16,600
- Other
- $3,483
- Deferred
- $11,002
- Nontaxable benefits
- $25,290
- Filer's total
- $268,512
-
Mary RubioMARY RUBIO
SVP/CHRO
- Total calculated
- $188,322
- From this org
- $168,548
- From related orgs
- $0
- Other
- $19,774
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $153,423
- Bonus
- $11,900
- Other
- $3,225
- Deferred
- $7,709
- Nontaxable benefits
- $12,065
- Filer's total
- $188,322
-
Lixa AndersonLIXA ANDERSON
SVP/CIO
- Total calculated
- $283,817
- From this org
- $236,821
- From related orgs
- $0
- Other
- $46,996
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $227,717
- Bonus
- $8,000
- Other
- $1,104
- Deferred
- $11,426
- Nontaxable benefits
- $35,570
- Filer's total
- $283,817
-
Royce NgiamROYCE NGIAM
SVP/CMO
- Total calculated
- $218,348
- From this org
- $176,488
- From related orgs
- $0
- Other
- $41,860
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,768
- Bonus
- $0
- Other
- $720
- Deferred
- $9,340
- Nontaxable benefits
- $32,520
- Filer's total
- $218,348
-
Mary BoloseMARY BOLOSE
VP, MEMBER SERVICES
- Total calculated
- $203,820
- From this org
- $170,263
- From related orgs
- $0
- Other
- $33,557
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,280
- Bonus
- $8,500
- Other
- $3,483
- Deferred
- $8,165
- Nontaxable benefits
- $25,392
- Filer's total
- $203,820
-
Oscar ToledoOSCAR TOLEDO
VP, ECOMMERCE & PAYMENTS
- Total calculated
- $191,602
- From this org
- $151,535
- From related orgs
- $0
- Other
- $40,067
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $148,703
- Bonus
- $2,400
- Other
- $432
- Deferred
- $8,120
- Nontaxable benefits
- $31,947
- Filer's total
- $191,602
-
David TranDAVID TRAN
VP, TECHNOLOGY
- Total calculated
- $206,571
- From this org
- $177,976
- From related orgs
- $0
- Other
- $28,595
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,256
- Bonus
- $0
- Other
- $720
- Deferred
- $9,089
- Nontaxable benefits
- $19,506
- Filer's total
- $206,571
-
Robert HerreraROBERT HERRERA
SR SYSTEM ADMIN
- Total calculated
- $166,048
- From this org
- $150,106
- From related orgs
- $0
- Other
- $15,942
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,993
- Bonus
- $1,800
- Other
- $313
- Deferred
- $1,350
- Nontaxable benefits
- $14,592
- Filer's total
- $166,048
-
Deborah MineroDEBORAH MINERO
AVP, PROJECT MANAGEMENT
- Total calculated
- $173,573
- From this org
- $141,671
- From related orgs
- $0
- Other
- $31,902
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $128,683
- Bonus
- $7,900
- Other
- $5,088
- Deferred
- $6,784
- Nontaxable benefits
- $25,118
- Filer's total
- $173,573
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
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
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
- 2024
- Filed
- 12 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513219349314761
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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