Arizona Financial Credit Union
- Assets
- $3.2b
- Revenue
- $80.0m
- Investments
- $22.8m
- Employees
- 785
- Location
- Phoenix, AZ
- Founding
- Data as of
- 12/2022
- EIN
- 86-0101004
Organization Overview
Arizona Financial Credit Union is located in Phoenix, AZ. 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 12/2022, Arizona Financial Credit Union employed 785 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arizona Financial Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF ARIZONA FINANCIAL CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARIZONA FINANCIAL CREDIT UNION (AZFCU) IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS. THE CREDIT UNION PROVIDES MORTGAGE, VEHICLE AND OTHER CONSUMER AND COMMERCIAL LOANS TO ITS MEMBERS. THE CREDIT UNION ALSO OFFERS A VARIETY OF ACCOUNTS FOR MEMBERS TO TRANSACT AND SAVE, INCLUDING SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. AS A MEMBER-OWNED ORGANIZATION, THE CREDIT UNION STRIVES TO PROVIDE COMPETITIVE INTEREST AND DIVIDEND RATES TO ITS MEMBERS AND CONVENIENT WAYS FOR MEMBERS TO ACCESS THEIR ACCOUNTS, INCLUDING ONLINE AND MOBILE BANKING AND SHARED BRANCHING SERVICES. OVER 158,804 MEMBERS ARE SERVED BY AZFCU.
AZFCU OFFERS CREDIT LIFE AND DISABILITY INSURANCE TO ITS MEMBERS WHEN THEY FINANCE A VEHICLE OR OPEN A CREDIT CARD. THIS INSURANCE WOULD PAY OFF THE LOAN IN THE CASE OF A DEATH OR DISABILITY. AZFCU OFFERS AUTO WARRANTIES AT FAIR PRICES TO ITS MEMBERS. THESE WARRANTIES ARE COMPREHENSIVE AND HELP WITH THE COSTS OF REPAIR OF THE VEHICLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Vice Chairperson | OfficerTrustee | 1 | $1,974 |
Name Not Listed Board Secretary | OfficerTrustee | 1 | $21,949 |
Name Not Listed Board Chairperson | OfficerTrustee | 1 | $1,092 |
Name Not Listed Board Treasurer | OfficerTrustee | 1 | $5,492 |
Name Not Listed Board Member | Trustee | 1 | $9,773 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mark A Kirkorsky Pc Credit Collections | 12/30/22 | $450,720 |
Mfp Capital Professional Services | 12/30/22 | $365,600 |
Dbsi Design Services | 12/30/22 | $359,145 |
Diebold Incorporated Atm Services | 12/30/22 | $280,293 |
Pscu Incorporated After Hours Customer Service | 12/30/22 | $273,200 |
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 | $64,339,105 |
| Investment income | $13,861,816 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,017,866 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,218 |
| 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. | $2,303,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,616,770 |
| Pension plan accruals and contributions | $1,064,804 |
| Other employee benefits | $3,607,825 |
| Payroll taxes | $1,674,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $283,329 |
| Fees for services: Accounting | $99,515 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,158,282 |
| Advertising and promotion | $1,549,553 |
| Office expenses | $1,413,191 |
| Information technology | $4,228,007 |
| Royalties | $0 |
| Occupancy | $1,704,024 |
| Travel | $292,694 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,797,943 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,695,506 |
| Insurance | $202,684 |
| All other expenses | $1,374,202 |
| Total functional expenses | $64,824,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,705,527 |
| Savings and temporary cash investments | $56,883,149 |
| 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 | $1,678,498,651 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $49,836,264 |
| Investments—publicly traded securities | $984,604,598 |
| Investments—other securities | $22,816,430 |
| Investments—program-related | $15,786,075 |
| Intangible assets | $125,455,188 |
| Other assets | $169,607,384 |
| Total assets | $3,171,193,266 |
| Accounts payable and accrued expenses | $46,692,752 |
| 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 | $2,882,271,479 |
| Total liabilities | $2,928,964,231 |
| 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 | $242,229,035 |
| Total liabilities and net assets/fund balances | $3,171,193,266 |