Americas Credit Union
- Assets
- $409.5m
- Revenue
- $16.2m
- Investments
- $0.0
- Employees
- 110
- Location
- Garland, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-6016747
Organization Overview
Americas Credit Union is located in Garland, TX. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Americas Credit Union employed 110 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Americas Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Americas Credit Union generated $16.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $14.3m during the year ending 12/2021. While expenses have increased by 10.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AMERICA'S CREDIT UNION OFFERS NUMEROUS SERVICES TO ITS MEMBER-OWNERS, EACH DESIGNED TO ASSIST THEM IN IMPROVING THEIR ECONOMIC WELL-BEING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED COMPETITIVE, LOW COST FINANCIAL SERVICES TO MEET THE NEEDS OF CREDIT UNION MEMBERSHIP IN ORDER TO HELP THEM ACHIEVE IMPROVED ECONOMIC WELL-BEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bert Beal CEO | Officer | 40 | $420,179 |
Shelley Pence CFO | Officer | 40 | $194,401 |
Jason Steele Cio | Officer | 40 | $154,906 |
Tammy DE La Cerda Chief Lending | Officer | 40 | $140,957 |
John Willis Secretary/treas | OfficerTrustee | 1 | $0 |
Raul Mercado Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Homebanking Data Process | 12/30/21 | $318,630 |
Lanvera Ltd Printing And Mailing | 12/30/21 | $193,806 |
Jack Henry Data Processing | 12/30/21 | $874,761 |
Fi Grow Website Hosting & Social | 12/30/21 | $127,647 |
Galt Construction General Contracting | 12/30/21 | $636,760 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $15,703,147 |
| Investment income | $5,745 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,514 |
| Net Gain/Loss on Asset Sales | $42,283 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,218,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $910,443 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,606,037 |
| Pension plan accruals and contributions | $288,604 |
| Other employee benefits | $551,506 |
| Payroll taxes | $472,352 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,232 |
| Fees for services: Accounting | $33,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,000 |
| Fees for services: Other | $1,760,050 |
| Advertising and promotion | $187,882 |
| Office expenses | $106,544 |
| Information technology | $297,189 |
| Royalties | $0 |
| Occupancy | $462,859 |
| Travel | $40,801 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $440,494 |
| Insurance | $106,736 |
| All other expenses | $638,887 |
| Total functional expenses | $14,304,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,290,390 |
| Savings and temporary cash investments | $155,439,347 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $198,875,060 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $9,928,549 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,957,655 |
| Total assets | $409,491,001 |
| Accounts payable and accrued expenses | $2,918,820 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $360,290,252 |
| Total liabilities | $363,209,072 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $46,281,929 |
| Total liabilities and net assets/fund balances | $409,491,001 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $599,377,066 | $59,950,337 |
Firstmark Credit Union San Antonio, TX | $1,229,967,544 | $50,715,745 |
True Sky Credit Union Oklahoma City, OK | $831,301,668 | $47,281,663 |
United Heritage Credit Union Austin, TX | $1,405,950,790 | $55,051,200 |
First Service Credit Union Houston, TX | $855,098,387 | $54,328,304 |
Neighborhood Credit Union Dallas, TX | $1,066,752,639 | $52,511,237 |
Velocity Credit Union Austin, TX | $1,067,927,517 | $65,298,866 |
Texans Credit Union Richardson, TX | $2,114,687,717 | $56,103,692 |
Resource One Credit Union Dallas, TX | $739,668,611 | $42,535,084 |
Fort Worth Community Credit Union Bedford, TX | $1,211,753,992 | $43,127,818 |
Weokie Federal Credit Union Oklahoma City, OK | $1,024,486,254 | $42,986,888 |
Community Resource Credit Union Baytown, TX | $712,967,542 | $43,169,320 |