Americas Credit Union
- Assets
- $407.0m
- Revenue
- $18.0m
- Investments
- $0.0
- Employees
- 118
- Location
- Garland, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- 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 12/2022, Americas Credit Union employed 118 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 12/2022, Americas Credit Union generated $18.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $15.3m during the year ending 12/2022. While expenses have increased by 10.2% per year over the past 8 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
2022
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 | $481,394 |
Shelley Pence CFO | Officer | 40 | $214,081 |
Jason Steele Cio | Officer | 40 | $173,135 |
Tammy DE La Cerda Chief Lending | Officer | 40 | $157,986 |
Scarlet Mihailov VP Retail Services | 40 | $144,701 | |
Tammy Chambers VP Human Capital | 40 | $135,645 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dolphin Debit Access Llc Atm Mach Ops | 12/30/22 | $115,851 |
Fi Grow Website Hosting & Social | 12/30/22 | $127,966 |
Lanvera Ltd Printing And Mailing | 12/30/22 | $151,300 |
The Security Center Security Equip & Mont Srv | 12/30/22 | $134,405 |
Kasasa Checking Acct Rwrds Serv | 12/30/22 | $146,740 |
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 | $17,456,375 |
| Investment income | -$116,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$66,053 |
| Net Gain/Loss on Asset Sales | $85,139 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,980,276 |
| 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. | $1,751,067 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,007,886 |
| Pension plan accruals and contributions | $254,819 |
| Other employee benefits | $469,477 |
| Payroll taxes | $544,877 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,892 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,000 |
| Fees for services: Other | $1,100,795 |
| Advertising and promotion | $218,029 |
| Office expenses | $130,746 |
| Information technology | $156,353 |
| Royalties | $0 |
| Occupancy | $489,111 |
| Travel | $71,308 |
| 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 | $427,134 |
| Insurance | $109,604 |
| All other expenses | $627,326 |
| Total functional expenses | $15,331,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,008,011 |
| Savings and temporary cash investments | $75,423,820 |
| 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 | $242,819,181 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,072,323 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,715,774 |
| Total assets | $407,039,109 |
| Accounts payable and accrued expenses | $3,999,961 |
| 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 | $354,108,892 |
| Total liabilities | $358,108,853 |
| 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 | $48,930,256 |
| Total liabilities and net assets/fund balances | $407,039,109 |