Form 990 for tax year 2022
Filed by CREDIT UNIONS IN THE STATE OF NEW MEXICO.
Totals
- Total revenue
- $50,914,383
- Total expenses
- $43,279,543
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $46,562,867
- Investment income
- $4,351,516
- Other revenue
- $0
- Total assets, end of year
- $861,940,972
- Total liabilities, end of year
- $796,345,871
- Net assets or fund balances, end of year
- $65,595,101
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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 INTEREST
total $27,400,284 · related or exempt $27,400,284
-
2b · Program service revenue: OTHER OPERATING INCOME
total $9,913,612 · related or exempt $9,913,612
-
2c · Program service revenue: FEES AND CHARGES
total $9,155,946 · related or exempt $9,155,946
-
2d · Program service revenue: NON-MEMBER ATM FEES
total $93,046 · unrelated business $93,046
-
2e · Program service revenue: INTEREST ON R/E CONTRACTS
total -$21 · related or exempt -$21
-
3 · Investment income
total $1,933,292 · related or exempt $1,933,292
-
7a · Gross sales of assets other than inventory
securities $15,472 · other assets $2,402,752
-
7c · Gain or loss
securities $15,472 · other assets $2,402,752
-
7d · Net gain or loss
total $2,418,224 · related or exempt $2,418,224
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,709,540
-
7 · Other salaries and wages
total $14,180,055
-
8 · Pension plan contributions
total $1,022,225
-
9 · Other employee benefits
total $1,323,355
-
10 · Payroll taxes
total $1,158,667
-
11b · Fees: legal
total $109,662
-
11c · Fees: accounting
total $42,900
-
11g · Fees: other
total $8,246,807
-
16 · Occupancy
total $1,949,895
-
19 · Conferences, conventions and meetings
total $399,219
-
20 · Interest
total $2,532,347
-
24a · Other expenses: OFFICE OPERATIONS
total $4,805,871
-
24b · Other expenses: PROVISIONS FOR LOAN LOSSE
total $1,700,000
-
24c · Other expenses: EDUCATIONAL AND PROMOTION
total $1,454,251
-
24d · Other expenses: KANSA MEMBER REWARDS
total $1,096,586
-
24e · All other expenses
total $1,548,163
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $36,635,900 · end of year $23,920,652
-
2 · Savings and temporary cash investments
beginning of year $46,477,091 · end of year $31,303,507
-
7 · Other notes and loans receivable
beginning of year $575,630,543 · end of year $660,460,560
-
10a · Land, buildings and equipment: cost or other basis
$40,613,618
-
10b · Land, buildings and equipment: accumulated depreciation
$18,436,501
-
10c · Land, buildings and equipment, net
beginning of year $24,337,388 · end of year $22,177,117
-
11 · Investments: publicly traded securities
beginning of year $105,175,934 · end of year $79,783,309
-
15 · Other assets
beginning of year $39,485,780 · end of year $44,295,827
-
17 · Accounts payable and accrued expenses
beginning of year $10,874,833 · end of year $15,994,928
-
25 · Other liabilities
beginning of year $750,490,796 · end of year $780,350,943
-
31 · Retained earnings, endowment or other funds
beginning of year $66,377,007 · end of year $65,595,101
Mission and programs · 2022
Mission
FIRST FINANCIAL CREDIT UNION IS A COOPERATIVE, NOT-FOR-PROFIT FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBERS; AT ADVANTAGEOUS RATES OVER THOSE GENERALLY AVAILABLE FROM OTHER BANKING SOURCES.
-
INTEREST IS CHARGED AT MARKET RATES TO MEMBERS TO PROVIDE REVENUE TO PAY FOR THE COST OF THE FUNDS.
-
FEES AND CHARGES ARE ASSESSED TO MEMBERS FOR FINANCIAL SERVICES. THESE FEES GENERATE THE REVENUE NECESSARY TO PAY THE COSTS TO PROVIDE THESE SERVICES.
-
EARNINGS FROM THE INVESTMENTS. THE EXCESS OF FUNDS RECEIVED FROM MEMBERS, OVER THE AMOUNT LOANDED TO MEMBERS, AS WELL AS ACCUMULATED SURPLUS, IS INVESTED IN SECURITIES ALLOWED BY THE NCUA, AND THE CREDIT UNION'S GOVERNING DOCUMENTS.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ronald MooreheadRONALD MOOREHEAD
PRESIDENT/CE
- Total calculated
- $1,363,618
- From this org
- $1,280,490
- From related orgs
- $0
- Other
- $83,128
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $1,280,490
- Bonus
- not reported
- Other
- not reported
- Deferred
- $83,128
- Nontaxable benefits
- not reported
- Filer's total
- $1,363,618
-
Karen OrtizKAREN ORTIZ
EVP/COO
- Total calculated
- $345,922
- From this org
- $281,717
- From related orgs
- $0
- Other
- $64,205
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $281,717
- Bonus
- not reported
- Other
- not reported
- Deferred
- $64,205
- Nontaxable benefits
- not reported
- Filer's total
- $345,922
-
Chris SamborskiCHRIS SAMBORSKI
CLO
- Total calculated
- $319,177
- From this org
- $249,834
- From related orgs
- $0
- Other
- $69,343
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $249,834
- Bonus
- not reported
- Other
- not reported
- Deferred
- $69,343
- Nontaxable benefits
- not reported
- Filer's total
- $319,177
-
Steve CoffeySTEVE COFFEY
CIO
- Total calculated
- $268,486
- From this org
- $193,873
- From related orgs
- $0
- Other
- $74,613
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $193,873
- Bonus
- not reported
- Other
- not reported
- Deferred
- $74,613
- Nontaxable benefits
- not reported
- Filer's total
- $268,486
-
Stormy JohnsonSTORMY JOHNSON
VP BRANCH OF
- Total calculated
- $200,186
- From this org
- $158,273
- From related orgs
- $0
- Other
- $41,913
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $158,273
- Bonus
- not reported
- Other
- not reported
- Deferred
- $41,913
- Nontaxable benefits
- not reported
- Filer's total
- $200,186
-
Dennis HoustonDENNIS HOUSTON
CSO
- Total calculated
- $169,464
- From this org
- $161,520
- From related orgs
- $0
- Other
- $7,944
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $161,520
- Bonus
- not reported
- Other
- not reported
- Deferred
- $7,944
- Nontaxable benefits
- not reported
- Filer's total
- $169,464
-
Yvone Alaniz-CarpeYVONE ALANIZ-CARPE
CFO
- Total calculated
- $134,248
- From this org
- $115,258
- From related orgs
- $0
- Other
- $18,990
- Hours/week
- 45
-
Ava BoswellAVA BOSWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Iva CurelyIVA CURELY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Michelle DurhamMICHELLE DURHAM
DIRECTOR
- Total calculated
- $0
-
Vincent EsparzaVINCENT ESPARZA
2ND VICE CH
- Total calculated
- $0
- Hours/week
- 45
-
Cindy FrostCINDY FROST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Rick GoshornRICK GOSHORN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Cassie KelleyCASSIE KELLEY
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 5
-
Stewart LoganSTEWART LOGAN
SCRETARY/TRE
- Total calculated
- $0
- Hours/week
- 5
-
Raymond McCreeshRAYMOND MCCREESH
DIRECTOR
- Total calculated
- $0
-
Boyd MillerBOYD MILLER
EMERITUS DIR
- Total calculated
- $0
- Hours/week
- 5
-
Loretta MontoyaLORETTA MONTOYA
1ST VICE CHA
- Total calculated
- $0
- Hours/week
- 5
-
Pablo RaelPABLO RAEL
EMERITUS DIR
- Total calculated
- $0
-
Cathy ThomasCATHY THOMAS
EMERITUS DIR
- Total calculated
- $0
- Hours/week
- 5
-
Byran TrevinoBYRAN TREVINO
ASSOCIATE
- Total calculated
- $0
-
Byran TrevinoBYRAN TREVINO
DIRECTOR
- Total calculated
- $0
-
Melissa WaunekaMELISSA WAUNEKA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
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 · 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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C U USER INC C U USERS INC
C CORP · INS. SALES · NM · 100% owned · share of income $544,196 · share of assets $621,038 · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333199349315008
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