2019-11-13T09:27:53-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2018-01-01 860100904 FIRST CREDIT UNION FIRS 4807565500 25 SOUTH ARIZONA PLACE NO 111 CHANDLER AZ 85225 JAY CURTIS PRESIDENT/CEO 4807565500 2019-10-31 1 MARY C GREEN P00447183 6022662248 67.137.57.251 2019-10-31 09:26:34 US P FD94BE241EB30D59D427851B854338419E5FBD2E DB638E471739F1D4B23C74843775E8025F07CF1B 2018 2020-01-14 16:20:31Z JAY CURTIS 25 SOUTH ARIZONA PLACE NO 111 CHANDLER AZ 85225 26620924 0 X WWW.FIRSTCU.ORG X 1929 AZ NON-PROFIT COOPERATIVE THAT PROVIDES BANKING AND OTHER FINANCIAL SERVICES TO ITS MEMBERS. 7 6 154 6 480981 0 0 0 23083424 22832746 2464635 2800408 0 79225 25548059 25712379 0 45277 381277 484652 9966868 10187367 0 0 0 14175462 12646991 24523607 23364287 1024452 2348092 459183370 460320720 434815551 433888282 24367819 26432438 NON-PROFIT COOPERATIVE THAT PROVIDES BANKING AND OTHER FINANCIAL SERVICES TO ITS MEMBERS. 0 0 FIRST CREDIT UNION WORKED TO GIVE BACK TO THE COMMUNITIES IT SERVES THROUGH LOWER FEES, BETTER RATES, BY IMPROVING ITS TECHNOLOGY PLATFORMS, BY PROVIDING FINANCIAL EDUCATION TO STUDENTS IN LOCAL SCHOOLS, BY WORKING WITH OUR MEMBERS TO RAISE MONEY AND SUPPLIES TO CHARITABLE CAUSES, AND BY WORKING TO IMPROVE OUR FINANCIAL SERVICES OFFERINGS TO OUR MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 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 0 0 1 27965 0 154 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 1 0 X FIRST CREDIT UNION 4807565500 25 SOUTH ARIZONA PLACE NO 111 CHANDLER AZ 85225 CARYN HORVITZ-STRAUS BOARD CHAIR 1.00 X X 0 0 0 WILLIAM JIMRO BOARD VICE-CHAIR 1.00 X X 0 0 0 RUSS PUCKETT BOARD TREASURER 1.00 X X 0 0 0 KENNETH MULLINS BOARD SECRETARY 1.00 X X 670 0 0 BARRY SCHLEGEL BOARD MEMBER 1.00 X 0 0 0 BEN TAN BOARD MEMBER 1.00 X 855 0 0 JAY CURTIS PRESIDENT/CEO/BOARD MEMBER 40.00 X X 690684 0 309314 LORI GALLEGOS EVP/COO 40.00 X 274554 0 208510 DOUGLAS ALLDREDGE CFO 40.00 X 236103 0 111715 THOMAS GESSEL CIO 40.00 X 206859 0 38778 THOMAS WASSON CLO 40.00 X 154776 0 20546 HEIDI KIM SVP/OPERATIONS 40.00 X 147183 0 36882 SCOT GILBREATH VP/RE LENDING 40.00 X 141926 0 24806 BENJAMIN RICKS AVP/IT 40.00 X 132945 0 24268 CHANTEL CAMPBELL VP/FINANCE 40.00 X 110525 0 22922 JONATHON MCMULLIN IT MANAGER 40.00 X 105908 0 19468 2202988 0 817209 10 0 1 0 JACK HENRY AND ASSOCIATES PO BOX 609 MONETT MO 65708 COMPUTER SYSTEMS AND SOFTWARE - MAINTENA 826767 DBSI INC 6950 W MORELOS PL STE 1 CHANDLER AZ 85226 PROPERTY MANAGEMENT SERVICES 386688 VELOCITY SOLUTIONS INC PO BOX 460939 FORT LAUDERDALE FL 33346 PROMOTIONAL PROGRAM RELATED SERVICES 273232 SOUTHWEST BUSINESS CORPORATION 9311 SAN PEDRO STE 600 SAN ANTONIO TX 78216 LOAN PAYMENT COLLECTION SERVICES 215108 CAL IT GROUP LLC 17011 BEACH BLVD STE 900 HUNTINGTON BEACH CA 92647 MANAGED CLOUD AND SECURITY IT SERVICES 214058 12 INTEREST ON LOANS 522100 18636803 18636803 FEE INCOME 522100 4195943 3714962 480981 22832746 2696760 2696760 964382 885157 79225 79225 79225 127036 23388 103648 103648 103648 25712379 22351765 480981 2879633 45277 484652 2251837 6040262 339034 1017118 539116 98886 84900 415009 812089 1177490 1267306 852832 140935 159060 695311 1305192 131603 PROVISION FOR LOAN LOSS 2333981 LOAN SERVICING 1276673 VISA DEBIT CARD EXPENSE 864305 OPERATING EXPENSES 597492 433927 23364287 414562 236195 41954920 29687814 353495 36223 328992896 346827002 5912853 5746008 37222171 18790265 19439525 18431906 36394383 37033333 19117306 15586338 6603430 6735901 459183370 460320720 4657199 5911113 430158352 427977169 434815551 433888282 X 0 0 0 0 24367819 26432438 24367819 26432438 459183370 460320720 X 2348092 -468813 185340 X 0 0 0 3627171 3627171 23183508 10509043 12674465 553137 257963 295174 9858355 8023259 1835096 18431906 MEMBERS SHARES AND SAVINGS ACCOUNTS 427977169 427977169 1 AZCEND PO BOX CHANDLER AZ 85244 860428780 501(C)(3) 5500 UNRESTRICTED 1 0 PART I, LINE 2: THE CREDIT UNION MONITORS THE USE OF FUNDS BY ENSURING THE ORGANIZATION IS A 501(C)(3). THE CREDIT UNION ALSO REVIEWS THE ORGANIZATION'S STATED MISSION ALONG WITH PROGRAM OFFERINGS TO ENSURE THE AWARD IS CONSISTENT WITH THEIR MISSION. X 1 1 X X X X 0 1 0 JAY CURTIS PRESIDENT/CEO/BOARD MEMBER 372500 0 55000 0 263184 0 293023 0 16291 0 999998 0 250000 0 LORI GALLEGOS EVP/COO 223000 0 37500 0 14054 0 192219 0 16291 0 483064 0 0 0 DOUGLAS ALLDREDGE CFO 193500 0 25000 0 17603 0 95424 0 16291 0 347818 0 0 0 THOMAS GESSEL CIO 171500 0 25000 0 10359 0 27964 0 10814 0 245637 0 0 0 THOMAS WASSON CLO 130000 0 10000 0 14776 0 9287 0 11259 0 175322 0 0 0 HEIDI KIM SVP/OPERATIONS 130000 0 15000 0 2183 0 26068 0 10814 0 184065 0 0 0 SCOT GILBREATH VP/RE LENDING 139000 0 2000 0 926 0 8515 0 16291 0 166732 0 0 0 BENJAMIN RICKS AVP/IT 119000 0 9000 0 4945 0 7977 0 16291 0 157213 0 0 0 PART I, LINE 4B THE CREDIT UNION MAINTAINS A 457(F) NON-QUALIFIED DEFERRRED COMPENSATION PLAN FOR A SELECT GROUP OF MANAGEMENT. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. THE CREDIT UNION MADE THE FOLLOWING CONTRIBUTIONS FOR THE PERIOD ENDED DECEMBER 31, 2018: JAY CURTIS $276,477 DOUGLAS ALLDREDGE $81,373 LORI GALLEGOS $175,734 THOMAS GESSEL $16,205 HEIDI KIM $17,739 THE FOLLOWING WERE THE DISTRIBUTIONS FROM THE 457(F) PLAN FOR THE PERIOD ENDED DECEMBER 31, 2018: JAY CURTIS $250,000 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A COOPERATIVE. AS SUCH, THE MEMBERS ARE THE OWNERS. FIRST CREDIT UNION OFFERS MEMBERSHIP TO PERSONS WHO LIVE, WORK, AND WORSHIP WITHIN A TEN MILE RADIUS OF ANY FIRST CREDIT UNION BRANCH. IN ADDITION, MEMBERSHIP IS AVAILABLE TO EMPLOYEES OF CERTAIN SPECIFIED ENTITIES IN THE FOLLOWING CATEGORIES: FEDERAL GOVERNMENT, MEDICAL CENTERS, MUNICIPALITIES, PRIVATE, PUBLIC, RELIGIOUS, AND CHARITABLE ORGANIZATIONS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY (BOARD OF DIRECTORS)IS ELECTED BY THE MEMBERS, WHO CAN CAST ONE VOTE EACH. FORM 990, PART VI, SECTION A, LINE 7B BYLAW CHANGES ARE SUBJECT TO APPROVAL BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO AND CEO AND WILL BE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY FOR THE BOARD, WHICH THEY REVIEW ANNUALLY AND SIGN A DECLARATION AS TO WHETHER THEY HAVE ANY CONFLICTS AND IDENTIFY AS SUCH. FOR EMPLOYEES, THE CREDIT UNION HAS A SECTION IN THE EMPLOYEE HANDBOOK THAT STATES THE POLICY FOR STAFF. A CONFLICT OF INTEREST OCCURS WHEN A DIRECTOR'S PERSONAL INTERESTS INTERFERE OR APPEAR TO INTERFERE WITH THE INTERESTS OF THE CREDIT UNION AS A WHOLE. CONFLICTS OF INTEREST ALSO ARISE WHEN A DIRECTOR OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY OR AN ENTITY WITH WHICH THE DIRECTOR IS AFFILIATED RECEIVES IMPROPER PERSONAL BENEFITS AS A RESULT OF HIS OR HER POSITION. THE MERE APPEARANCE OF A CONFLICT OF INTEREST SHOULD BE AVOIDED AT ANY COST. ANY SITUATION THAT INVOLVES OR MAY REASONABLY BE EXPECTED TO INVOLVE A CONFLICT OF INTEREST WITH THE CREDIT UNION SHALL BE DISCLOSED IMMEDIATELY TO THE BOARD. DISCLOSURE: A DIRECTOR SHALL PROMPTLY DISCLOSE TO THE BOARD ANY KNOWN INTEREST, RELATIONSHIP OR RESPONSIBILITY HELD BY THE DIRECTOR, ANY MEMBER OF HIS OR HER IMMEDIATE FAMILY, OR ANY OF HIS OR HER BUSINESS ASSOCIATES WITH RESPECT TO ANY POTENTIAL OR ACTUAL CONSIDERATION, EVEN IF SUCH INTEREST, RELATIONSHIP OR RESPONSIBILITY HAS OTHERWISE GENERALLY BEEN DISCLOSED TO THE BOARD. ADDITIONALLY, DIRECTORS MUST DISCLOSE INFORMATION REGARDING THEIR FINANCIAL INTERESTS IN ORGANIZATIONS DOING BUSINESS WITH THE CREDIT UNION. BOARD ACTION: IN THE EVENT OF A POTENTIAL CONFLICT, THE BOARD, WITH THE ABSTENTION OF THE INTERESTED DIRECTOR, MAY DECIDE WHETHER OR NOT THAT DIRECTOR MAY PARTICIPATE IN ANY DISCUSSION OR VOTE ON THE ISSUE THAT GAVE RISE TO THE POTENTIAL CONFLICT. RECUSAL: ANY DIRECTOR WITH SUCH AN INTEREST, RELATIONSHIP OR RESPONSIBILITY WHICH CONFLICTS OR POTENTIALLY CONFLICTS WITH THE INTEREST OF THE CREDIT UNION SHALL RECUSE HIMSELF OR HERSELF FROM ANY DISCUSSION AND VOTE ON THE ISSUE THAT GAVE RISE TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS BASED ON A FORMAL REVIEW THAT IS COMPLETED BY ALL BOARD MEMBERS ALONG WITH SELF EVALUATION BY CEO. THERE IS A REVIEW OF INDUSTRY SPECIFIC SALARY SURVEY INFORMATION THAT IS PERFORMED BY INDEPENDENT MEMBERS OF THE EXECUTIVE COMMITTEE WITH THE COMPENSATION DECISION DOCUMENTED IN THE CEO'S FILE AND IS PRESENTED TO THE FULL BOARD. 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 ORGANIZATION'S FINANCIAL STATEMENTS ARE POSTED IN EACH BRANCH. FORM 990, PART XI, LINE 9: CHANGE IN PENSION PLAN ASSETS 185,340.