Overview
What is American First Credit Union?
American First Credit Union is a cooperative financial institution located at 6 Pointe Drive 400, Brea, CA, 92821. Established with the purpose of promoting thrift and savings among its members, it offers various financial services, including checking and savings accounts, attractive CD rates, and IRAs. This credit union operates as a democratic organization for its members, enabling them to control their money for improved economic and social conditions. The earnings, savings, benefits, or services of the credit union are distributed back to its members. American First Credit Union has a team of 169 employees dedicated to ensuring member satisfaction and creating a reliable source of credit at rates set by the board of directors.
Official website here: www.amerfirst.org
Is American First Credit Union legitimate?
American First Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. American First Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,623,596
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,876,621
For more financial information, click here
Official website here: www.amerfirst.org
What is the mission statement of American First Credit Union?
American First Credit Union is a cooperative established with the aim of fostering thrift and savings among its members. By doing so, it serves as a valuable source of credit for its members, offering them favorable interest rates determined by the board of directors. The credit union provides an opportunity for members to manage their own funds in a democratic manner, aiming to enhance their economic and social conditions. As a cooperative, American First Credit Union operates for the mutual benefit and overall well-being of its members. The earnings, savings, advantages, or services of the credit union are redistributed to its members.
Official website here: www.amerfirst.org
Who is the CEO of American First Credit Union?
Jon Shigematsu is the Chairman of American First Credit Union. The CEO's salary of American First Credit Union is $523,084 and their total compensation is $572,904.
Official website here: www.amerfirst.org
What is the revenue of American First Credit Union?
American First Credit Union's revenue in 2022 was $38,362,006.
Official website here: www.amerfirst.org
Who are the executives of American First Credit Union and what are their salaries?
The average compensation at American First Credit Union during 2022 was $62,131. There are 169 employees and 12 volunteers at American First Credit Union.
Here are 21 key members and their salaries (American First Credit Union's CEO's salary is $523,084 and their total compensation is $572,904):
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- Compensation: $523,084
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- Other: $49,820
- Compensation: $86,764
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- Other: $3,029
- Compensation: $127,494
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- Other: $12,043
- Compensation: $302,793
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- Other: $22,843
- Compensation: $389,048
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- Compensation: $331,005
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- Other: $31,102
- Compensation: $311,883
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- Other: $41,639
- Compensation: $287,401
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- Other: $47,096
- Compensation: $264,124
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- Other: $18,458
Official website here: www.amerfirst.org
Where can I find the form 990 for American First Credit Union?
American First Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.amerfirst.org
Learn more at the official website: www.amerfirst.org
Mission Statement of American First Credit Union
American First Credit Union is a cooperative, established with the goal of encouraging savings among its members and providing them with affordable credit. The organization's mission is geared towards promoting thrift and savings among its members, while also acting as a credit source with interest rates determined by its Board of Directors. This cooperative setup allows members to have a democratic say in how their financial resources are managed and used, improving their economic and social conditions. As a cooperative, American First Credit Union operates with the collective benefit and general welfare of its members at heart. The earnings, savings, benefits, or services of the credit union are distributed among the members as patronage, making it a unique financial institution committed to mutual support and financial growth for its members.
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Impact
October, 2024
American First Credit Union has made a significant impact by fostering a culture of thrift and savings among its members. Located in Brea, California, the cooperative focuses on delivering high levels of member satisfaction through a range of financial services, including competitive checking and savings accounts, attractive CD rates, and IRA options.
By providing a source of credit at favorable interest rates determined democratically by its board of directors, the credit union empowers its members to manage their finances effectively. This not only enhances individual economic conditions but also supports the overall welfare of the community. Earnings and benefits generated by the credit union are reinvested back into the membership, ensuring that all members share in the financial success and stability of the institution.
The cooperative nature of American First Credit Union allows members to exercise control over their financial resources, reinforcing the importance of collective decision-making in achieving shared goals. Ultimately, the credit union's commitment to improving economic and social conditions exemplifies its dedication to serving the public benefit and enriching the lives of its members.
This information is meant to be a general summary of American First Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,759,770
- Program Service Revenue: $35,638,915
- Gross Receipts: $43,522,550
Assets and Liabilities:
- Total Assets: $978,621,575
- Total Liabilities: $892,280,126
- Net Assets: $86,341,449
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$27,027,044
OTHER OPERATING INCOME
Revenue
$6,084,156
FEE INCOME
Revenue
$2,527,715
Organization Details
Founding Year
1989
Phone
(800) 290-1112Principal Officer
Jon Shigematsu
Main Address
6 POINTE DRIVE 400, BREA, CA, 928219322
Website
www.amerfirst.orgNTEE Category
Code: W60 - Public benefit
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