Oneaz Credit Union EIN 86-0108770 Form 990 (PDF) Claim this org

Oneaz Credit Union

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Offers members financial services through a cooperative model. For fiscal year 2024 it reported $198.9M in revenue, $166.5M in expenses, and $266.5M in net assets.Pt I

Founded
1951
Type
Mutual-benefit / member-serving · Public & Societal Benefit
Location
Phoenix, AZ
Website
www.oneazcu.com
Filings
5 on file (2020–2024)
Revenue
$198.9MFY2024
Expenses
$166.5M
Net assets
$266.5M
People
29
Filings
5
Updates
0
More identity details & actions ⌄
EIN  86-0108770 Mutual-benefit / member-serving Phoenix, AZ Founded 1951
Form 990 (PDF)
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Figures match the IRS filing checked 7/5/26 · see original: IRS
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Size
$100M+
What they do
Offers members financial services through a cooperative model.
Leadership
Brandon Michaels · CEO/President · $1.0M
Money in and out
$198.9M revenue, $166.5M expenses
Bottom line
+16% surplus margin
Reported financial activity · FY2024
Total revenue
$198.9M
Pt VIII · Ln 12
Total expenses
$166.5M
Pt IX · Ln 25
Net assets
$266.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $32.4M
Surplus margin
+16%
revenue over expenses, this year▲ +12% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$198.9M
FY2024▲ +16%
Expenses
$166.5M
FY2024▲ +14%
Total assets
$3.4B
FY2024+0.3%
Total liabilities
$3.1B
FY2024▼ -1%
Total revenue
$198.9M
Pt VIII · Ln 12
Total expenses
$166.5M
Pt IX · Ln 25
Net assets
$266.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$32.4M
Total assetsPt X · Ln 16$3.4B
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COneaz Credit Union
EINHdr · item D86-0108770
Principal addressHdr · item CPhoenix, AZ
WebsiteHdr · item Jwww.oneazcu.com
Year of formationHdr · item L1951
State of legal domicileHdr · item MAZ
Exempt statusHdr · item I501(c)(14) · active
NTEE classificationIRS BMFPublic & Societal Benefit (W61)
Ruling yearIRS BMFOct 1970

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
CEO/President
$1,006,890Pt VII · Sec A
EVP Strategy & Brand
$747,284Pt VII · Sec A
$607,741Pt VII · Sec A
$593,698Pt VII · Sec A
EVP Clo
$521,526Pt VII · Sec A
SVP Wealth Management
$447,192Pt VII · Sec A
Wealth Advisor
$445,099Pt VII · Sec A
EVP Chief Strategy & Growth Officer
$420,631Pt VII · Sec A

Brandon Michaels’s $1.0M as CEO/President is at the 69th percentile of top reported officer pay among 59 $100M+ public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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

NameFY2024FY2023FY2022FY2021FY2020
Dave Doss$5,811,048
Richard K Reedy$346,553$1,383,642$1,381,638$533,688$988,327
Laura Worzella$607,741$1,135,467$480,400$308,537$393,101
Michael Emanuelli$413,477$1,064,090$496,186$321,749$419,833
Brandon Michaels$1,006,890$543,054
Deborah Pearson$747,284$597,345$528,811$260,202$358,275
Michael Boden$593,698$606,659$498,267$515,927$396,500
Stephen Hodgson$596,978

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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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

The credit union provides checking and savings deposit accounts as well as consumer, real estate and business loans to its members.

Pt IX · col B

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Statement of Revenue

Part VIII
Program service revenue$162.5M · 82%
Investment income$34.3M · 17%
Other revenue$2.0M · 1%
Program service revenue82%$162.5M
Investment income17%$34.3M
Other revenue1%$2.0M
Total revenueLn 12$198.9M

Balance Sheet

Part X · end of year
CashLn 1$226.8M
Total assetsLn 16$3.4B
Total liabilitiesLn 26$3.1B
Total net assetsLn 32$266.5M
Months of cash on handcomputed16.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $952.1M · Operating expenses/yr $166.5M
68.6 months
Where the money goes
Program services
Program services — · Total expenses $166.5M
Management & General
Management & general — · Total expenses $166.5M
Fundraising
Fundraising — · Total expenses $166.5M
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $198.9M
0%
Government reliance
Government grants — · Total revenue $198.9M
Earned-income share
Program service revenue $162.5M · Total revenue $198.9M
82%
Investment reliance
Investment income $34.3M · Total revenue $198.9M
+17%
Program self-sufficiency
Program service revenue $162.5M · Total expenses $166.5M
98%
Growth & trend
Revenue growth (YoY)
This year $198.9M · Prior year $171.2M
+16%
Revenue CAGR
FY2020 $106.2M · FY2024 $198.9M
+17%
Net-asset trend (YoY)
End of year $266.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $198.9M · Expenses $166.5M
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $3.4B
Net-asset ratio
Net assets $266.5M · Total assets $3.4B
8%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $696.7M · Other securities (Pt X, ln 12) $28.5M · Total assets (Pt X, ln 16) $3.4B
21%
People & payroll
Highest Reported Total Compensation
Individual Brandon Michaels · Reported title CEO/PRESIDENT · Highest reported compensation $1.0M · Total expenses $166.5M
0.6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $60.1M · Total expenses $166.5M
36%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 16%
Legal fee ratio 0.5%
Accounting fee ratio 0.2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 36 grants · $2.3M · 2020–2024
Fc ArizonaFY2024$26,250
State Employee Charitable CampaignFY2024$12,000
One Community FoundationAZ · FY2024$10,000
Peoria Diamond ClubAZ · FY2024$5,500
State Employee Charitable CampaignFY2023$20,000
One Community FoundationAZ · FY2023$10,000
Local First for BusinessAZ · FY2022$52,500
Banzai INCFY2022$37,000
One Community FoundationAZ · FY2022$20,000
State Employee Charitable CampaignFY2022$20,000
See all 36 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$198.9M revenue · viewing · ⤓ 990 PDF
FY2023$171.2M revenue · ⤓ 990 PDF
FY2022$127.2M revenue · ⤓ 990 PDF
FY2021$105.4M revenue · ⤓ 990 PDF
FY2020$106.2M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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