2024-10-22T13:06:50-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2023-01-01 860189823 FIRST AMERICAN CREDIT UNION FIRS 5208368848 1001 N PINAL AVENUE CASA GRANDE AZ 85122 PHIL PETERS PRESIDENT & CEO 5208368848 2024-10-19 1 0 MELISSA HANGSLEBEN P02087031 6022662248 2024-10-19 2023 2024-10-15 13:58:12Z PHIL PETERS 1001 N PINAL AVENUE CASA GRANDE AZ 85122 7319811 0 X WWW.FIRSTAMERICAN.ORG X 1962 AZ A NON-PROFIT COOPERATIVE THAT PROVIDES BANKING PRODUCTS AND SERVICE TO ITS MEMBERSHIP. 7 6 37 8 58295 1236 0 0 5336077 6112397 706691 1207414 0 0 6042768 7319811 0 0 93454 381638 1933923 2194610 0 0 0 2542502 2843775 4569879 5420023 1472889 1899788 109153033 117540744 101748055 108260181 7404978 9280563 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. 0 0 FIRST AMERICAN CREDIT UNION IS A NON-PROFIT COOPERATIVE FULLY OWNED BY 13,531 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. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1046 0 1 37 1 1 1 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 0 0 X TONYA KRUSE 5208368848 1001 N PINAL AVENUE CASA GRANDE AZ 85122 PHIL PETERS PRESIDENT & CEO/DIRECTOR 40.00 X X 129345 0 12903 FRANK MESQUITA CFO (THRU 8/31/23) 40.00 X 63940 0 10438 JR MCEVOY CHAIR 1.00 X X 0 0 0 CLIFF KINSER VICE-CHAIR 1.00 X X 0 0 0 SYLVIA MEJIA TREASURER 1.00 X X 0 0 0 STEVE HUDSON SECRETARY 1.00 X X 0 0 0 JOSEPH HARDY DIRECTOR 1.00 X 0 0 0 DUANE WALLACE DIRECTOR 1.00 X 0 0 0 193285 0 23341 1 0 0 0 PSCU 560 CARILLON PARKWAY ST PETERSBUG FL 33716 DEBIT AND CREDIT CARD PROCESSING 283012 PRODIGY LLC 420 E SOUTH TEMPLE SUITE 520 SALT LAKE UT 84111 CORE DATA PROCESSOR 262800 2 LOAN INCOME 522100 3517310 3517310 FEE INCOME 522100 2595087 2536792 58295 6112397 1206057 1206057 1357 0 1357 1357 1357 7319811 6054102 58295 1207414 381638 216626 1544313 146260 154179 133232 19178 26165 133257 5487 321749 353891 394414 5805 787 196 68467 48808 BANK AND CREDIT CARD FE 760981 PROVISION FOR LOAN LOSS 329232 OTHER EXPENSES 168177 LOAN FEES 112245 94936 5420023 15443719 14965227 7691420 18136576 69651114 73084615 400033 421818 3012179 2092871 875029 919308 5850123 5430969 7841756 3154643 1399839 1427588 109153033 117540744 1881069 2134507 1383000 1383000 98483986 104742674 101748055 108260181 X 0 0 0 0 7404978 9280563 7404978 9280563 109153033 117540744 X 1899788 139158 -163361 X 0 1 X 1 0 390114 390114 1095061 789969 305092 24879 24879 0 1493013 1278023 214990 9112 9112 919308 MEMBERS' SHARE AND SAVINGS ACCOUNT 104742674 104742674 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. FORM 990, PART VI, SECTION A, LINE 6 PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS GENERALLY CONSISTS OF MEMBERS OF BOTH THE NAVAJO AND TOHONO O'ODHAM NATIONS, AND OF THOSE WHO LIVE, WORK, WORSHIP, OR GO TO SCHOOL IN PINAL COUNTY, ARIZONA. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL BOARD MEETING. FORM 990, PART VI, SECTION A, LINE 7B BYLAW AMENDMENTS MUST BE RATIFIED BY MEMBERS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS AN ETHICS AND WHISTLEBLOWER POLICY WHICH MANDATES THAT EACH OFFICIAL AND EMPLOYEE OF THE CREDIT UNION MUST SIGN UPON WORKING WITH THE CREDIT UNION. EACH BOARD MEMBER AND EMPLOYEE MUST SIGN AN UPDATED STATEMENT ANNUALLY. THE CONFLICT OF INTEREST POLICY IS REVIEWED BY THE BOARD OF DIRECTORS ANNUALLY AND DISCUSSED IN AWARENESS MEETINGS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING AND APPROVING THE COMPENSATION OF THE CEO. THE BOARD REVIEWS AN ANALYSIS OF 990'S FROM STATE CHARTERED CREDIT UNIONS TO DETERMINE THE CEO'S COMPENSATION. THE BOARD CHAIR DOCUMENTS THE COMPENSATION AMOUNTS. THE CEO REVIEWS AND APPROVES ALL OTHER COMPENSATION IN ACCORDANCE WITH THE BOARD APPROVED BUDGET. OTHER OFFICER AND KEY EMPLOYEE'S COMPENSATION IS BASED ON A FORMAL REVIEW THAT IS COMPLETED BY THE CEO. THERE IS A REVIEW OF INDUSTRY SPECIFIC SALARY SURVEY INFORMATION AND IS PERFORMED BY THE CEO WITH THE DECISION DOCUMENTED IN THE EMPLOYEE FILE AND PAYROLL SYSTEM. THIS PROCESS WAS LAST COMPLETED DURING 2023. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CECL CUMULATIVE EFFECT ADJUSTMENT -163,361. FIRST AMERICAN ASSURANCE AGENCY LLC 1001 N PINAL AVENUE CASA GRANDE AZ 85122 471089501 INSURANCE AZ 8707 14538 FIRST AMERICAN CREDIT UNION