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← CREDIT UNIONS IN THE STATE OF ARIZONIA

Form 990 for tax year 2024

Filed by CREDIT UNIONS IN THE STATE OF ARIZONIA.

Totals

Total revenue
$8,276,415
Total expenses
$6,431,305
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,516,157
Investment income
$1,760,258
Other revenue
$0
Total assets, end of year
$113,578,840
Total liabilities, end of year
$102,375,469
Net assets or fund balances, end of year
$11,203,371
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 $3,923,744 · related or exempt $3,923,744

  • 2b · Program service revenue: FEE INCOME

    total $2,592,413 · related or exempt $2,531,136 · unrelated business $61,277

  • 3 · Investment income

    total $1,760,258 · excluded $1,760,258

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $712,483

  • 5 · Compensation of officers, directors and key employees

    total $176,598

  • 7 · Other salaries and wages

    total $1,735,315

  • 8 · Pension plan contributions

    total $199,533

  • 9 · Other employee benefits

    total $166,525

  • 10 · Payroll taxes

    total $144,056

  • 11b · Fees: legal

    total $40,851

  • 11c · Fees: accounting

    total $16,080

  • 11g · Fees: other

    total $104,629

  • 12 · Advertising and promotion

    total $5,789

  • 13 · Office expenses

    total $306,099

  • 14 · Information technology

    total $349,951

  • 16 · Occupancy

    total $370,993

  • 17 · Travel

    total $8,416

  • 19 · Conferences, conventions and meetings

    total $827

  • 20 · Interest

    total $4,742

  • 22 · Depreciation, depletion and amortization

    total $77,934

  • 23 · Insurance

    total $53,716

  • 24a · Other expenses: BANK AND CREDIT CARD FE

    total $782,447

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $768,278

  • 24c · Other expenses: OTHER EXPENSES

    total $193,087

  • 24d · Other expenses: LOAN FEES

    total $113,537

  • 24e · All other expenses

    total $99,419

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,965,227 · end of year $17,967,071

  • 2 · Savings and temporary cash investments

    beginning of year $18,136,576 · end of year $19,811,938

  • 7 · Other notes and loans receivable

    beginning of year $73,084,615 · end of year $64,898,780

  • 9 · Prepaid expenses and deferred charges

    beginning of year $421,818 · end of year $141,754

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

    $2,675,738

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

    $1,812,802

  • 10c · Land, buildings and equipment, net

    beginning of year $919,308 · end of year $862,936

  • 11 · Investments: publicly traded securities

    beginning of year $5,430,969 · end of year $4,992,675

  • 12 · Investments: other securities

    beginning of year $3,154,643 · end of year $2,719,389

  • 15 · Other assets

    beginning of year $1,427,588 · end of year $2,184,297

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,134,507 · end of year $1,624,286

  • 23 · Secured mortgages and notes payable

    beginning of year $1,383,000 · end of year $1,383,000

  • 25 · Other liabilities

    beginning of year $104,742,674 · end of year $99,368,183

  • 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 $9,280,563 · end of year $11,203,371

Mission and programs · 2024

Mission

FIRST AMERICAN CREDIT UNION IS A NON-PROFIT COOPERATIVE THAT PROVIDES BANKING PRODUCTS AND SERVICES TO ITS MEMBERSHIP. OUR MISSION IS TO CREATE FINANCIAL INDEPENDENCE, PROMOTE DIVERSITY AND SERVE HARD-WORKING FAMILIES.

Activities or mission (Part I)

A NON-PROFIT COOPERATIVE THAT PROVIDES BANKING PRODUCTS AND SERVICE TO ITS MEMBERSHIP.

  • FIRST AMERICAN CREDIT UNION IS A NON-PROFIT COOPERATIVE FULLY OWNED BY 13,640 MEMBERS. THE CREDIT UNION PROVIDES A VARIETY OF BANKING SERVICES, SUCH AS CONSUMER LENDING, BILL PAYMENT, MOBILE/HOME BANKING, DEPOSIT/TRANSACTIONAL ACCOUNTS, IRA ACCOUNTS, DEBIT/CREDIT CARD SERVICES, ATM AND OTHER FINANCIAL SERVICES.

As filed on the 2024 return.

Listed in Part VII

  • PHIL PETERS

    PRESIDENT & CEO/DIRECTOR

    Total calculated
    $176,598
    From this org
    $159,637
    From related orgs
    $0
    Other
    $16,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,000
    Bonus
    $54,637
    Other
    $0
    Deferred
    $10,457
    Nontaxable benefits
    $6,504
    Filer's total
    $176,598

  • JR MCEVOY

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CLIFF KINSER

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SYLVIA MEJIA

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • STEVE HUDSON

    SECRETARY (TERM 04/24)

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH HARDY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DUANE WALLACE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202543189349314714

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