First Credit Union: FY2022 Nonprofit Profile & Form 990 (EIN 86-0100904)

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Jay Curtis	$887,423	$902,183	$610,129	$743,227	$764,392
Lori Gallegos	$244,846	$344,153	$382,904	$478,003	$463,768
Douglas Alldredge	$458,193	$318,748	$286,530	$391,306	$259,507
Heidi Kim	$409,887	$277,370	$244,475	$187,321	$167,176
Thomas Gessel	$339,946	$314,866	$295,554	$260,018	$234,290
Benjamin Ricks	$200,462	$183,295	$181,998	$170,904	$167,736
Thomas Wasson	—	$105,735	$185,698	$175,576	$168,231
Scot Gilbreath	$185,298	$177,689	$167,920	$160,536	$158,118

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes
Loans to or from officersSch L · Pt II5 listed

Programs and updates

Offers banking and financial services to its members.

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1 program · in their own filed words · FY2022

01

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…

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

National Credit Union Foundation INCFY2025$8K

Total grants receivedfrom 1 funder$8K

Grants paid · 12 grants · $99K · 2020–2024

Childrens Miracle NetworkUT · FY2024$9,500

Chandler Chamber of CommerceAZ · FY2024$7,000

IcanAZ · FY2024$6,000

Arizona Food Bank NetworkAZ · FY2024$5,008

Downtown Chandler CommunityfoundationAZ · FY2023$15,000

Northwest Credit Union FoundationWA · FY2023$7,000

Phoenix Children's Hospital FoundationAZ · FY2023$6,603

IcanAZ · FY2023$6,000

Downtown Chandler CommunityfoundationAZ · FY2022$10,000

National Credit Union Foundation INCWI · FY2022$7,500

Phoenix Children's Hospital FoundationAZ · FY2021$9,000

Childrens Miracle NetworkUT · FY2020$10,000

By the numbers

The FY2022 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$30.6M

Ln 12

Fees for servicesLn 2g$24.7M

Investment incomeLn 3$4.6M

Other incomeLn 4–11$1.3M

Money outPt IX

$25.8M

Ln 25

Owns and owesPt X

$41.6M

net assets · Ln 32

Cash and savingsLn 1–2$56.8M

Total assetsLn 16$711.0M

LiabilitiesLn 26$669.4M

PeoplePt VI, VII

17

listed · VII A

PaidVII A16

Voting boardVI 1a7

IndependentVI 1b6

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$24.7M

Investment incomeLn 3$4.6M

Other incomeLn 4–11$1.3M

Gains on assetsLn 7$33K

Total revenueLn 12$30.6M

Assets in detailPt X, end of year

CashLn 1$20.8M

SavingsLn 2$36.0M

Cash and savings togetherLn 1–2$56.8M

InvestmentsLn 11–13$200.2M

Land, buildings, equipmentLn 10c$10.8M

Other assetsLn 15$15.5M

Total assetsLn 16$711.0M

LiabilitiesLn 26$669.4M

Net assetsLn 32$41.6M

OperationsPt I, VI

EmployeesI 5179

VolunteersI 69

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$81.6M	$56.8M
InvestmentsLn 11–13	$184.0M	$200.2M
Land, buildings, equipmentLn 10c	$9.6M	$10.8M
Total assetsLn 16	$666.3M	$711.0M
LiabilitiesLn 26	$613.5M	$669.4M
Net assetsLn 32	$52.8M	$41.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$50K
Benefits paid to or for membersLn 4	$728K
Pay of current officers, directors and key staffLn 5	$2.3M
Other salaries and wagesLn 7	$7.4M
Pension plan contributionsLn 8	$395K
Other employee benefitsLn 9	$1.2M
Payroll taxesLn 10	$641K
Legal feesLn 11b	$62K
Accounting feesLn 11c	$58K
Other fees for servicesLn 11g	$738K
Advertising and promotionLn 12	$658K
Office expensesLn 13	$1.1M
Information technologyLn 14	$1.4M
OccupancyLn 16	$1.6M
TravelLn 17	$161K
Conferences, conventions and meetingsLn 19	$135K
InterestLn 20	$171K
Depreciation, depletion and amortizationLn 22	$1.1M
InsuranceLn 23	$135K
Other expenses (24a–d)Ln 24	$5.5M
All other expensesLn 24e	$395K
Total functional expensesLn 25	$25.8M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 LatestFiled with the IRS Nov 10, 2025	$50.4M	$42.7M	$7.7M	$55.8M	990 PDF
FY2023Filed with the IRS Nov 6, 2024	$39.3M	$35.3M	$4.0M	$45.7M	990 PDF
FY2022 ViewingFiled with the IRS Nov 6, 2023	$30.6M	$25.8M	$4.8M	$41.6M	990 PDF
FY2021Filed with the IRS Nov 8, 2022	$24.4M	$20.4M	$4.0M	$52.8M	990 PDF
FY2020Filed with the IRS Nov 9, 2021	$24.3M	$23.1M	$1.2M	$48.5M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $30,610,743 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $22,108,640$24,739,055

I-10 Investment incomePrior year $2,224,831$4,615,857

I-11 Other revenuePrior year $19,938$1,255,831

I-12 Total revenuePrior year $24,353,409$30,610,743

I-13 Grants and similar amounts paidPrior year $37,655$50,400

I-14 Benefits paid to membersPrior year $699,758$727,850

I-15 Salaries and benefitsPrior year $9,710,468$11,901,764

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $9,918,131$13,155,397

I-18 Total expensesPrior year $20,366,012$25,835,411

I-19 Revenue less expensesPrior year $3,987,397$4,775,332

Part VI · Governance 6 of 7 board members independent, no flags

VI-1a Voting members of the governing body7

VI-1b Independent voting members6

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $30,610,743 across 6 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $24,308,743 · Unrelated business $430,312$24,739,055

VIII-3 Investment incomeExcluded from tax $4,582,376$4,582,376

VIII-6 Net rental income or lossExcluded from tax $31,498$31,498

VIII-7 Net gain or loss on sales of assetsExcluded from tax $33,481$33,481

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,224,333$1,224,333

VIII-12 Total revenueRelated to mission $24,308,743 · Unrelated business $430,312 · Excluded from tax $5,871,688$30,610,743

Part IX · Statement of functional expenses $25,835,411 across 21 lines filed

IX-1 Grants to domestic organizations$50,400

IX-4 Benefits paid to or for members$727,850

IX-5 Pay of current officers, directors and key staff$2,319,660

IX-7 Other salaries and wages$7,369,168

IX-8 Pension plan contributions$395,027

IX-9 Other employee benefits$1,176,925

IX-10 Payroll taxes$640,984

IX-11b Legal fees$61,607

IX-11c Accounting fees$57,718

IX-11g Other fees for services$738,181

IX-12 Advertising and promotion$658,302

IX-13 Office expenses$1,092,221

IX-14 Information technology$1,362,547

IX-16 Occupancy$1,574,444

IX-17 Travel$161,165

IX-19 Conferences, conventions and meetings$135,232

IX-20 Interest$171,448

IX-22 Depreciation, depletion and amortization$1,065,682

IX-23 Insurance$135,417

IX-24 Other expenses (24a–d)$5,546,753

IX-24e All other expenses$394,680

IX-25 Total functional expenses$25,835,411

Part X · Balance sheet $711,017,037 assets, 14 lines filed

Asset lines not itemized here account for $419,967,591; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $926,111$20,794,067

X-2 Savings and temporary cash investmentsStart of year $80,707,586$36,011,828

X-4 Accounts receivableStart of year $360,668$152,512

X-9 Prepaid expenses and deferred chargesStart of year $8,573,503$7,609,525

X-10c Land, buildings and equipment, netStart of year $9,633,294$10,810,897

X-11 Publicly traded securitiesStart of year $166,972,545$178,616,171

X-12 Other securitiesStart of year $17,071,676$21,592,815

X-15 Other assetsStart of year $13,872,451$15,461,631

X-16 Total assetsStart of year $666,315,890$711,017,037

X-17 Accounts payable and accrued expensesStart of year $10,867,867$6,304,522

X-25 Other liabilitiesStart of year $602,645,822$643,138,706

X-26 Total liabilitiesStart of year $613,513,689$669,443,228

X-32 Total net assets or fund balancesStart of year $52,802,201$41,573,809

X-33 Total liabilities and net assetsStart of year $666,315,890$711,017,037

Part XI · Reconciliation of net assets $41,573,809 net assets at year end

XI-1 Total revenue$30,610,743

XI-2 Total expenses$25,835,411

XI-3 Revenue less expenses$4,775,332

XI-4 Net assets at start of year$52,802,201

XI-5 Net unrealized gains (losses) on investments−$16,970,096

XI-9 Other changes in net assets$966,372

XI-10 Net assets at end of year$41,573,809

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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First Credit Union FY2022 filing

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Who runs it and what they're paid

Compensation history total reportable pay by year · 8 named individuals · Part VII