2026-09-19T11:54:20-05:00 2025-12-31 420714325 RSM US LLP 4650 E 53RD STREET DAVENPORT IA 52827 990 2025-01-01 951679662 FIRST CITY CREDIT UNION FIRS 2134814690 500 W WOODBURY RD ALTADENA CA 91001 LOURDES RUANO EVP/CFO 2134814690 2026-09-18 1 JENIFER L CHASE P01306883 5638884000 2026-09-18 2025 NAVNEET KHANNA 500 W WOODBURY RD ALTADENA CA 91001 44642806 0 X WWW.FIRSTCITYCU.ORG X 1937 CA TO PROVIDE HIGH QUALITY FINANCIAL SERVICES AND COMPETITIVE PRODUCTS TO OUR MEMBERS 7 7 152 10 265110 0 0 0 29124111 32873709 12239794 11714577 0 0 41363905 44588286 0 0 0 0 11508864 12799116 0 0 0 25666831 28515509 37175695 41314625 4188210 3273661 887999902 937393420 821819609 852903426 66180293 84489994 X 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. 0 0 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 12/31/2025, FIRST CITY CREDIT UNION HAD 57,404 MEMBER LOANS OUTSTANDING WITH A TOTAL BALANCE OF $445,103,946. 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 12/31/2025, FIRST CITY CREDIT UNION HAD A TOTAL DEPOSIT BALANCE OF $805,161,868. 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. 0 0 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 8510 0 1 152 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 CA X LOURDES RUANO 2134814690 500 W WOODBURY RD ALTADENA CA 91001 CHRISTOPHER ANDERSON VICE CHAIR 1.00 X X 0 0 0 JOHN BENEDICT TREASURER 1.00 X X 0 0 0 CAROLYN BERNARDEZ DIRECTOR 1.00 X 0 0 0 WILLA GLOVER FORMER VICE CHAIR 1.00 X X 0 0 0 ANABEL LUNA GIRON DIRECTOR 1.00 X 0 0 0 MARISA LOPEZ SECRETARY 1.00 X X 0 0 0 GRACE REYES DIRECTOR 1.00 X 0 0 0 MICHAEL STEINBERGER CHAIR 1.00 X X 0 0 0 NAVNEET KHANNA CEO 40.00 X 515669 0 60439 LOURDES RUANO SVP/CFO 40.00 X 330400 0 55079 ALFREDO PEREZ SVP/CLO 40.00 X 227101 0 38144 MARY RUBIO SVP/CHRO 40.00 X 177198 0 20762 LIXA ANDERSON SVP/CIO 40.00 X 232328 0 50723 ROYCE NGIAM SVP/CMO 40.00 X 207089 0 46664 SAMANTHIKA TATE SVP/COO 40.00 X 285730 0 29083 MARY BOLOSE FORMER VP, MEMBER SERVICES 40.00 X 117591 0 6607 OSCAR TOLEDO VP, ECOMMERCE & PAYMENTS 40.00 X 157699 0 44616 ROBERT HERRERA FORMER SR SYSTEM ADMIN 40.00 X 130946 0 8623 DEBORAH MINERO AVP, PROJECT MANAGEMENT 40.00 X 141747 0 27727 ABDUL NABI QANI PROGRAMMER II 40.00 X 119700 0 41096 2643198 0 429563 23 0 1 0 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 CORE SYSTEM PROVIDER 534298 INSYNC COMPUTER SOLUTIONS 23272 MILL CREEK DRIVE LAGUNA HILLS CA 92653 IT CONSULTANT 520694 FINANCIAL TECHNOLOGY SOLUTIONS 406 EAST HUNTINGTON DRIVE MONROVIA AS 91016 ATM SERVICER 456128 THE HEARTWOOD GUILD 5026 ASHFORD CREST LANE CHARLOTTE NC 28226 IT CONSULTANTS 340008 ALLIED NATIONWIDE SECURITY 7116 VALJEAN AVE VAN NUYS CA 91406 BRANCH SECURITY GUARDS 320298 14 LOAN INCOME 522100 25860512 25860512 FEES & SERVICE CHARGES INCOME 522100 2548150 2283040 265110 INTERCHANGE INCOME 522100 2319142 2319142 OTHER INCOME 522100 2145905 2145905 32873709 11769097 11769097 54520 -54520 -54520 -54520 44588286 32608599 265110 11714577 2276409 8609452 243261 893751 776243 122723 152474 410940 931263 3547472 4626699 1566314 350291 1973857 964073 141604 DIVIDENDS PAID TO MEMBE 6260409 PROVISON FOR LOAN LOSS 3482752 VISA EXPENSES 1317910 LOAN PROCESSING 1229412 1437316 41314625 3724897 3455049 11252231 12321815 10898597 10679910 410706904 440460914 1333852 1665543 29843974 14331450 15543420 15512524 411366405 429985924 72064 72064 23101532 23239677 887999902 937393420 4262274 4101883 40000000 40000000 777557335 808801543 821819609 852903426 X 0 0 0 0 66180293 84489994 66180293 84489994 887999902 937393420 3273661 15036040 0 X X 0 1 X 1 0 10400 10400 10400 1 CALIFORNIA CREDIT UNION LEAGUE 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 10400 0 PART I-A, LINE 1: FIRST CITY CREDIT UNION CONTRIBUTED TO THE CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE TO SUPPORT CREDIT UNION ISSUES. 3997000 3997000 11470800 1594270 9876530 2730106 2460452 269654 11646068 10276728 1369340 15512524 AVAILABLE FOR SALE SECURITIES 291586562 F SHORT TERM INVESTMENTS 130442965 C FHLB STOCK 5817000 C CENTRAL LIQUIDITY FACILITY STOCK 2139397 C 429985924 MEMBER SHARES 805161868 LEASE LIABILITY 3639675 808801543 X 44588286 0 44588286 0 44588286 41314625 0 41314625 0 41314625 PART X, LINE 2: FIRST CITY CREDIT UNION (THE CREDIT UNION) IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14) AND, AS SUCH, IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. X X 1 0 0 NAVNEET KHANNA CEO 513605 0 0 0 2064 0 17500 0 42939 0 576108 0 0 0 LOURDES RUANO SVP/CFO 326783 0 0 0 3617 0 15514 0 39565 0 385479 0 0 0 SAMANTHIKA TATE SVP/COO 285250 0 0 0 480 0 5595 0 23488 0 314813 0 0 0 LIXA ANDERSON SVP/CIO 231224 0 0 0 1104 0 12321 0 38402 0 283051 0 0 0 ALFREDO PEREZ SVP/CLO 221755 0 0 0 5346 0 11485 0 26659 0 265245 0 0 0 ROYCE NGIAM SVP/CMO 205605 0 0 0 1484 0 10902 0 35762 0 253753 0 0 0 OSCAR TOLEDO VP, ECOMMERCE & PAYMENTS 157267 0 0 0 432 0 8510 0 36106 0 202315 0 0 0 MARY RUBIO SVP/CHRO 173973 0 0 0 3225 0 7800 0 12962 0 197960 0 0 0 DEBORAH MINERO AVP, PROJECT MANAGEMENT 136607 0 0 0 5140 0 6882 0 20845 0 169474 0 0 0 ABDUL NABI QANI PROGRAMMER II 118699 0 0 0 1001 0 6532 0 34564 0 160796 0 0 0 PART I, LINE 4A FIRST CITY CREDIT UNION PAID MARY BOLOSE, FORMER VP OF MEMBER SERVICE, $70,000 AND ROBERT HERRERA, FORMER SR SYSTEM ADMIN, $43,416 IN SEVERANCE PAYMENTS DURING CALENDAR YEAR 2025. THESE AMOUNTS ARE INCLUDED ON FORM 990, PART VII AND SCHEDULE J, PART II AS OTHER REPORTABLE COMPENSATION. NAVNEET KHANNA OFFICER COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY X 10795000 10679910 0 1 1 10679910 FORM 990, PART VI, SECTION A, LINE 6 FIRST CITY CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A FIRST CITY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B FIRST CITY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT AND REMOVE THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 8B FIRST CITY CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WILL BE PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C FIRST CITY CREDIT UNION'S CONFLICT OF INTEREST POLICY APPLIES TO ITS BOARD MEMBERS AND ITS EMPLOYEES. A CONFLICT OF INTEREST GENERALLY MEANS A SITUATION WHERE THE CREDIT UNION'S INTERESTS AND A EMPLOYEE OR BOARD MEMBER'S INTERESTS MAY DIFFER, EVEN THOUGH IN THAT SITUATION THE PERSON'S RESPONSIBILITY IS TO ACT IN THE BEST INTEREST OF FIRST CITY CREDIT UNION. WHERE A CONFLICT OF INTEREST IS DEEMED TO EXIST, THE BOARD MEMBER WILL NOT VOTE ON THE MATTER AND WILL BE ASKED TO TAKE NO PART IN ANY DISCUSSION WITH RESPECT TO THE MATTER CREATING THE CONFLICT OF INTEREST, AND NOT ATTEMPT TO INFLUENCE, IN ANY WAY, THE GOVERNING BODY'S DECISIONS WITH REGARD THE MATTER CREATING THE CONFLICT OF INTEREST. THE BOARD CHAIR IS RESPONSIBLE FOR THE ADMINISTRATION OF THIS POLICY. THE VICE PRESIDENT OF HUMAN RESOURCES RECEIVES AND REVIEWS DISCLOSURES SUBMITTED BY BOARD MEMBERS. THE OBJECTIVE IS TO ENSURE THAT ANY ACTUAL OR PERCEIVED CONFLICT OF INTEREST IS AVOIDED OR EFFECTIVELY MANAGED. BREACHES OF CONFLICT OF INTEREST FOR BOARD MEMBERS AND THE PRESIDENT/CHIEF EXECUTIVE OFFICER WILL BE REPORTED TO THE BOARD CHAIR AND SUPERVISORY COMMITTEE CHAIR. IF THE BREACH OF CONFLICT PERTAINS TO THE BOARD CHAIR, A CLEAR SUBMISSION WILL GO TO THE VICE CHAIR AND THE SUPERVISORY COMMITTEE CHAIR. IN ADDITION, EMPLOYEE BREACHES REQUIRING DISCIPLINARY ACTION WILL BE REPORTED TO THE BOARD CHAIR AND SUPERVISORY COMMITTEE CHAIR. AN ACKNOWLEDGMENT OF CONFLICTS OF INTEREST POLICY AND DISCLOSURE STATEMENT WILL BE DEVELOPED, TO BE COMPLETED BY EVERY BOARD MEMBER UPON ELECTION OR APPOINTMENT, AND ANNUALLY THEREAFTER. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF FIRST CITY CREDIT UNION'S CHIEF EXECUTIVE OFFICER (CEO) IS REVIEWED AND APPROVED BY A COMPENSATION COMMITTEE, WHICH IS COMPOSED OF THREE INDEPENDENT BOARD REPRESENTATIVES. IN SETTING THE CEO'S COMPENSATION, THE COMPENSATION COMMITTEE ENGAGES A THIRD-PARTY CONSULTANT WHO PROVIDES COMPARABILITY DATA TO GUIDE THEIR DECISIONS. THIS REVIEW PROCESS LAST OCCURRED IN 2026. THE DELIBERATIONS AND COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE COMMITTEE MEETING MINUTES, WHICH ARE MAINTAINED BY THE CHIEF HUMAN RESOURCES OFFICER (CHRO). FORM 990, PART VI, SECTION C, LINE 19 FIRST CITY CREDIT UNION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104.