Firstmark Credit Union
- Assets
- $1.2b
- Revenue
- $50.7m
- Investments
- $60.4m
- Employees
- 302
- Location
- San Antonio, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-0879805
Organization Overview
Firstmark Credit Union is located in San Antonio, 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, Firstmark Credit Union employed 302 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Firstmark 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, Firstmark Credit Union generated $50.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $46.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Firstmark Credit Union has awarded 34 individual grants totaling $440,373. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP PEOPLE TO BETTER THEIR LIVES AND BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRSTMARK CREDIT UNION, A MEMBER OWNED AND LOCALLY CONTROLLED FINANCIAL COOPERATIVE, IS DEDICATED TO MEETING THE FINANCIAL NEEDS OF MEMBERS; PROVIDING EXCELLENCE IN PERSONALIZED SERVICE; OFFERING INNOVATIVE AND COMPREHENSIVE PRODUCTS AND SERVICES; SAFEGUARDING MEMBER INVESTMENTS BY MAINTAINING FINANCIAL STRENGTH; BEING A RESPONSIBLE EMPLOYER BY ADDRESSING THE NEEDS OF EMPLOYEES; AND BEING A RESPONSIBLE CORPORATE CITIZEN IN THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathanael Tarwasokono President/ce | Officer | 40 | $481,524 |
Michael Grundon CFO | Officer | 40 | $243,933 |
Gregg Thorne Cao | Officer | 40 | $230,640 |
Richard Danny Smith Chief Exp Of | Officer | 40 | $196,203 |
Veronica Teran VP Of Accoun | 40 | $178,444 | |
Aaron Bedingfield Chief Tech O | 40 | $174,540 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Leonard Contracting Services Construction | 12/30/21 | $3,242,678 |
Ncr Corporation Atm Services | 12/30/21 | $1,010,762 |
Q2 Software Inc Software | 12/30/21 | $641,847 |
Albert Uresti Mpa Pcc Tax Assessor | 12/30/21 | $684,957 |
Jack Henry & Associates Inc Software | 12/30/21 | $776,541 |
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 | $43,939,521 |
| Investment income | $4,938,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,837,935 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,715,745 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,522 |
| 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. | $1,676,356 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,346,694 |
| Pension plan accruals and contributions | $16,060 |
| Other employee benefits | $2,352,012 |
| Payroll taxes | $1,221,946 |
| Fees for services: Management | $19,040 |
| Fees for services: Legal | $4,425 |
| Fees for services: Accounting | $185,422 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $154,001 |
| Fees for services: Other | $7,485,163 |
| Advertising and promotion | $1,531,361 |
| Office expenses | $6,542,135 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,546,591 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $476,251 |
| Interest | $3,698,391 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,996,291 |
| Insurance | $39,723 |
| All other expenses | $0 |
| Total functional expenses | $45,999,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,776,901 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,303,844 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $658,146,452 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,543,283 |
| Net Land, buildings, and equipment | $24,507,108 |
| Investments—publicly traded securities | $436,889,866 |
| Investments—other securities | $60,358,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,441,598 |
| Total assets | $1,229,967,544 |
| Accounts payable and accrued expenses | $8,601,490 |
| 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 | $59,406,653 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,052,539,702 |
| Total liabilities | $1,120,547,845 |
| 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 | $109,419,699 |
| Total liabilities and net assets/fund balances | $1,229,967,544 |
Grants Awarded
Over the last fiscal year, Firstmark Credit Union has awarded $62,522 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
San Antonio, TX PURPOSE: SPONSORSHIP | $16,000 |
San Antonio, TX PURPOSE: SCHOLARSHIPS | $15,000 |
San Antonio, TX PURPOSE: SPONSORSHIP | $11,500 |
San Antonio, TX PURPOSE: DONATIONS | $11,022 |
San Antonio, TX PURPOSE: SPONSORSHIP | $9,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ttcu Federal Credit Union Tulsa, OK | $2,611,508,582 | $123,227,030 |
Credit Union Of Texas Allen, TX | $1,777,913,030 | $114,589,686 |
First Community Credit Union Of Houston Houston, TX | $1,964,514,771 | $83,936,302 |
Texas Trust Credit Union Arlington, TX | $1,797,827,251 | $77,667,084 |
Intouch Credit Union Plano, TX | $1,046,983,946 | $47,406,759 |
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 |