Vantage West Credit Union
- Assets
- $2.0b
- Revenue
- $118.3m
- Investments
- $48.1m
- Employees
- 579
- Location
- Tucson, AZ
- Founding
- 10/1970
- Data as of
- 12/2019
- EIN
- 86-0120482
Organization Overview
Vantage West Credit Union is located in Tucson, AZ. The organization was established in 1970. 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 12/2018, Vantage West Credit Union employed 579 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Vantage West 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 12/2019, Vantage West Credit Union generated $118.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $99.8m during the year ending 12/2019. While expenses have increased by 5.8% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
WORKING TOGETHER TO MEET OUR MEMBERS' FINANCIAL NEEDS. VANTAGE WEST IS A FULL-SERVICE FINANCIAL INSTITUTION. WE OFFER A WIDE ARRAY OF PERSONAL AND BUSINESS ACCOUNTS RANGING FROM SAVINGS AND CHECKING ACCOUNTS TO LOANS, MORTGAGES, MERCHANT SERVICES, CONSUMER CREDIT CARDS, AND MUCH MORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Ramirez President/ceo | Officer | 40 | $2,130,237 |
Rene S Almazan Svp/ Chief Lending Officer | 40 | $487,438 | |
Scott Odom CFO | Officer | 40 | $297,253 |
Brenda Gordon Chief Legal Officer | 40 | $262,240 | |
Daniel M Clemens Chief Strategy Officer | 40 | $250,717 | |
Steven Mott Svp/technology | 40 | $250,231 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Digital Insight Digital Banking Provider | 12/30/18 | $3,795,401 |
Bfl Construction Company Inc Construction Company For Corporate Expan | 12/30/18 | $1,999,127 |
Pscu Card Services/bill Pay Provider | 12/30/18 | $1,871,964 |
Brink Marketing | 12/30/18 | $1,744,439 |
Cdw Direct Llc Integrated It Provider | 12/30/18 | $1,315,192 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $8,839,247 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$10,549 |
| Net Gain/Loss on Asset Sales | $1,885,512 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,310,063 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $10,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,723,298 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,694,137 |
| Pension plan accruals and contributions | $1,649,828 |
| Other employee benefits | $4,081,763 |
| Payroll taxes | $2,109,160 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $361,408 |
| Fees for services: Accounting | $211,936 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $965,092 |
| Advertising and promotion | $3,475,045 |
| Office expenses | $4,054,366 |
| Information technology | $4,389,160 |
| Royalties | $0 |
| Occupancy | $1,610,411 |
| Travel | $115,894 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $779,104 |
| Interest | $16,711,112 |
| Payments to affiliates | $252,646 |
| Depreciation, depletion, and amortization | $3,425,881 |
| Insurance | $378,053 |
| All other expenses | $0 |
| Total functional expenses | $99,783,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,898,599 |
| Savings and temporary cash investments | $144,141,884 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $470,776 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,545,329,129 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,343,647 |
| Investments—publicly traded securities | $156,070,039 |
| Investments—other securities | $48,132,917 |
| Investments—program-related | $0 |
| Intangible assets | $1,193,286 |
| Other assets | $61,770,672 |
| Total assets | $2,015,563,365 |
| Accounts payable and accrued expenses | $32,328,780 |
| 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 | $1,731,971,600 |
| Total liabilities | $1,764,300,380 |
| 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 |
| Total liabilities and net assets/fund balances | $251,262,985 |
Grants Awarded
Over the last fiscal year, Vantage West Credit Union has awarded $44,700 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Tucson, AZ PURPOSE: CHARITABLE CONTRIBUTION | $12,200 |
Tucson, AZ PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
Tucson, AZ PURPOSE: CHARITABLE CONTRIBUTION | $7,500 |
Tempe, AZ PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
Tucson, AZ PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
Tucson, AZ PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Golden 1 Credit Union Sacramento, CA | $12,993,881,498 | $532,330,203 |
San Diego County Credit Union San Diego, CA | $8,469,209,045 | $343,670,713 |
Patelco Credit Union Dublin, CA | $7,290,342,964 | $299,706,510 |
Credit Unions In The State Of California Sunnyvale, CA | $9,073,674,668 | $257,132,367 |
Bellco Credit Union Greenwood Village, CO | $5,171,032,513 | $254,737,778 |
Credit Unions In The State Of California Pasadena, CA | $3,690,408,153 | $217,920,461 |
Travis Credit Union Vacaville, CA | $3,365,005,976 | $180,779,315 |
Safe Credit Union Folsom, CA | $3,814,181,101 | $166,534,195 |
Credit Unions In The State Of California Santa Rosa, CA | $4,988,759,555 | $237,085,485 |
Canvas Credit Union Lone Tree, CO | $2,726,664,766 | $173,007,741 |
One Az Credit Union Phoenix, AZ | $2,608,126,699 | $106,232,415 |
California Credit Union Glendale, CA | $3,190,811,816 | $155,942,457 |