Members 1st Credit Union

Organization Overview

Members 1st Credit Union is located in Redding, CA. The organization was established in 1961. 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, Members 1st Credit Union employed 95 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Members 1st 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, Members 1st Credit Union generated $10.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $9.0m during the year ending 12/2021. While expenses have increased by 8.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

MEMBERS 1ST CREDIT UNION PROVIDES THE CONVENIENT AND RELEVANT FINANCIAL SERVICES THAT MEMBERS NEED TO ACHIEVE THEIR GOALS AND DREAMS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

GENERAL SERVICE TO OUR MEMBERS: THE DELIVER CHANNELS INCLUDE FOUR BRANCH LOCATIONS WHERE STAFF ARE FULLY TRAINED AND AVAILABLE TO PROVIDE SERVICES RELATED TO LOAN AND DEPOSIT TRANSACTIONS. ALL BRANCHES INCLUDE ATM ACCESS. A FINANCIAL PLANNER IS AVAILABLE TO ADVISE MEMBERS AT NO CHARGE. THE CREDIT UNION SERVICES APPROXIMATELY 22,000 MEMBERS. THE CORPORATE OFFICE HOUSES A CALL CENTER, WEBSITE STAFF, AND OTHER KEY EMPLOYEES WHOSE JOBS REVOLVE AROUND KEEPING THE CREDIT UNION OPERATIONS SAFE AND SECURE. THE CREDIT UNION STRIVES TO BE GREAT VALUE TO ITS MEMBERS. PRODUCTS ARE COMPETITIVELY PRICED AND MANY TRANSACTIONS CAN BE CONDUCTED ON THE CREDIT UNION'S WEBSITE OR MOBILE APP 24 HOURS PER DAY, 7 DAYS PER WEEK.


LENDING PROGRAM: MEMBERS 1ST CREDIT UNION FIRST BEGAN LENDING TO ITS MEMBERS IN 1936. WE HAVE A SUCCESSFUL TRACK RECORD OF HELPING COMMUNITY MEMBERS ESTABLISH CREDIT AND WE ALSO OFFER RATES THAT ARE A GOOD VALUE. EXPENSES ASSOCIATED WITH LENDING INCLUDE STAFF MEMBERS AND OTHER COST GENERALLY ASSOCIATED WITH OPERATING AN OFFICE.


DEPOSIT SERVICES: EXTENDING COMPETITIVE SAVINGS RATES TO OUR MEMBERS ENABLES THE CREDIT UNION TO GROW, REWARD SAVERS, HAVE ACCESSIBLE FUNDS TO LEND TO BORROWERS, AND FULFILL OUR COOPERATIVE PRINCIPLE MISSION. MULTIPLE TYPES OF INDIVIDUAL RETIREMENT ACCOUNTS ARE OFFERED TO SERVE THE MEMBERSHIP INTO THE FUTURE.


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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$10,269,846
Investment income $252,434
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $126,738
Net Gain/Loss on Asset Sales -$2,124
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,925,251

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