2021-11-09T13:01:21-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-01-01 860189823 FIRST AMERICAN CREDIT UNION FIRS 5208368848 1001 N PINAL AVENUE CASA GRANDE AZ 85122 PHIL PETERS PRESIDENT/CEO 5208368848 2021-11-08 1 PHIL PETERS 999009999 MARY C GREEN P00447183 6022662248 2021-11-08 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z PHIL PETERS 1001 N PINAL AVENUE CASA GRANDE AZ 85122 4438227 0 X WWW.FIRSTAMERICAN.ORG X 1962 AZ A NON-PROFIT COOPERATIVE THAT PROVIDES BANKING PRODUCTS AND SERVICE TO ITS MEMBERSHIP. 7 7 44 14 66198 0 0 0 4955384 4150869 460378 286912 0 0 5415762 4437781 0 0 193642 198318 1871609 1920640 0 0 0 3038174 1899928 5103425 4018886 312337 418895 81361882 95034394 75558007 88705812 5803875 6328582 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 APPROXIMATELY 12,500 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 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 826 0 44 1 1 1 0 0 0 0 0 0 0 X 7 7 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 40.00 X 87187 0 8873 FRANK MESQUITA CFO 40.00 X 77183 0 8001 JR MCEVOY CHAIRMAN 1.00 X X 0 0 0 CLIFF KINSER VICE-CHAIRMAN 1.00 X X 0 0 0 JANICE WEAVER SECRETARY 1.00 X X 0 0 0 SYLVIA MEJIA TREASURER 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 STEVE HUDSON DIRECTOR 1.00 X 0 0 0 164370 0 16874 0 0 0 0 VANTIV 500 NORTH JUNIPER DRIVE SUITE 100 CHANDLER AZ 85226 DEBIT/CREDIT CARD PROCESSING 358134 CU PRODIGY 420 E SOUTH TEMPLE SUITE 520 SALT LAKE UT 84111 CORE DATA SYSTEM SERVICES 173938 2 FEE INCOME 522100 2133059 2066861 66198 LOAN INCOME 522100 2017810 2017810 4150869 287358 287358 446 -446 -446 -446 4437781 4084671 66198 286912 198318 181244 1384108 80108 141988 133192 58808 48299 65223 21457 256821 290473 305469 2101 599 4 156808 43840 BANK AND CREDIT CARD FE 653327 OTHER EXPENSES 112603 INTERCHANGE TERMINAL 100887 LOAN FEES 92315 -309106 4018886 3932814 17167348 24205788 29196728 24749 41288253 37295764 105129 100347 2735518 1817071 1063409 918447 6174450 3068451 3696509 6435509 895530 827051 81361882 95034394 511318 1191780 75046689 87514032 75558007 88705812 X 0 0 0 0 5803875 6328582 5803875 6328582 81361882 95034394 418895 105812 0 X 0 1 X 1 0 390114 390114 1095061 696945 398116 24879 19548 5331 1225464 1100578 124886 918447 PERPETUAL CONTRIBUTED CAPITAL ACCOUNT 210509 C CERTIFICATES OF DEPOSIT IN OTHER FINANCIAL INSTITUTIONS 6225000 C 6435509 MEMEBER SHARE AND SAVINGS ACCOUNT 87514032 87514032 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2020 CALENDAR YEAR. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2020 AND 2019. THE CREDIT UNION'S 2017 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE INCOME FROM THE CUSO, ORGANIZED AS AN LLC, FLOWS THROUGH TO THE CREDIT UNION AND, THEREFORE, IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES. STEVE HUDSON BOARD MEMBER HELOC X 24053 22227 0 1 1 SYLVIA MEJIA BOARD MEMBER CREDIT CARD X 8500 2522 0 1 1 24749 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 BOARD OF DIRECTORS AT THE ANNUAL BOARD MEETINGS. 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 CHAIRMAN 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. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC. FIRST AMERICAN ASSURANCE AGENCY LLC 1001 N PINAL AVENUE CASA GRANDE AZ 85122 471089501 INSURANCE AZ 7674 10656 FIRST AMERICAN CREDIT UNION