Firefighters First Credit Union

Firefighters First Credit Union Overview

Firefighters First Credit Union is located in Los Angeles, CA. The organization was established in 1975. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 12/2016, Firefighters First Credit Union employed 193 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 04/2017, Firefighters First Credit Union generated $12.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (35.2%) each year. All expenses for the organization totaled $11.1m during the year ending 04/2017. As we would expect to see with falling revenues, expenses have declined by (33.9%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2017

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE FINANCIAL SERVICES EXCLUSIVELY TO FIREFIGHTERS THROUGHOUT THE STATE OF CALIFORNIA. WE STRIVE TO OFFER THE BEST RATES AND SERVICES TO OUR MEMBERSHIP. EFFECTIVE APRIL 18, 2017, WE ARE FEDERALLY INSURED AND OFFER SERVICES TO FIREFIGHTERS NATIONWIDE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FIREFIGHTERS FIRST CREDIT UNION PROVIDES A VAST ARRAY OF REAL ESTATE LOANS AND SERVICES, WHICH INCLUDES 1ST TRUST DEEDS, 2ND'S, HOME EQUITY, CONSTRUCTION, LAND LOANS AND NON-OWNER OCCUPIED LOANS. IN ADDITION, WE SERVICE REAL ESTATE LOANS SOLD ON THE SECONDARY MARKET. AS OF DECEMBER 31, 2016, WE SERVICE OVER 4,270 LOANS TOTALING $683 MILLION. THROUGH OUR REAL ESTATE SERVICES, OUR EXPERT STAFF WILL ASSIST YOU FROM BEGINNING TO END INCLUDING THE ASSISTANCE OF THE DECISION OF PURCHASING A HOME. IN ADDITION, OUR STAFF WILL REVIEW ALL THE LOAN OPTIONS TO ENSURE MEMBERS ARE OBTAINING THE LOAN THAT BEST FITS THEIR NEEDS. WE SERVICE ALL REAL ESTATE LOANS WHETHER THEY ARE KEPT IN-HOUSE OR SOLD ON THE SECONDARY MARKET. TO ENSURE THE PROCESSING OF THE LOAN IS SMOOTH AND ACCURATE, WE ALSO COMPLETE ESCROW SERVICES IN-HOUSE FOR RE-FINANCES.


FIREFIGHTERS FIRST CREDIT UNION PROVIDES ADDITIONAL INVESTMENT AND INSURANCE PRODUCTS AND SERVICES ABOVE OUR TRADITIONAL PRODUCTS AND SERVICES. OUR LICENSED FINANCIAL ADVISORS ARE REGISTERED THROUGH CUSO FINANCIAL SERVICES, L.P. ("CFS") AS BROKER DEALER, TO ASSIST OUR MEMBERS WITH THEIR FINANCIAL NEEDS FROM COLLEGE EDUCATION TO RETIREMENT. AS OF DECEMBER 31, 2016, WE HAVE OVER 1,100 HOUSEHOLD ACCOUNTS WITH OVER $200 MILLION IN ASSETS UNDER MANAGEMENT. MEMBERS ARE WELCOME TO COME IN AND SPEAK WITH OUR FINANCIAL ADVISORS. WE OFFER A COMPLIMENTARY NO OBLIGATION CONSULTATION AND ACCOUNT PROFILE. *NON-DEPOSIT INVESTMENT PRODUCTS AND SERVICES OFFERED THROUGH CUSO FINANCIAL SERVICES, L.P. (CFS), A REGISTERED BROKER/DEALER (MEMBER FINRA/SIPC) AND SEC REGISTERED INVESTMENT ADVISOR. PRODUCTS OFFERED THROUGH CFS: ARE NOT INSURED BY AMERICAN SHARE INSURANCE (ASI) OR OTHERWISE FEDERALLY INSURED, ARE NOT GUARANTEES OR OBLIGATIONS OF THE CREDIT UNION, AND MAY INVOLVE INVESTMENT RISK INCLUDING POSSIBLE LOSS OF PRINCIPAL. INVESTMENT REPRESENTATIVES ARE REGISTERED THROUGH CFS. FIREFIGHTERS FIRST CREDIT UNION HAS CONTRACTED WITH CFS TO MAKE NON-DEPOSIT INVESTMENT PRODUCTS AND SERVICES AVAILABLE TO ITS MEMBERS.


FIREFIGHTERS FIRST CREDIT UNION OFFERS A FULL SUITE OF BUSINESS SERVICES FROM SAVINGS, CHECKING, BUSINESS LOANS AND COMMERCIAL REAL ESTATE LOANS. WE HAVE PROFESSIONAL STAFF TO ASSIST MEMBERS WITH THEIR BUSINESS NEEDS. ADDITIONAL SERVICES SUCH AS PAYROLL AND CREDIT CARD PROCESSING ARE ALSO AVAILABLE. OUR CHECKING AND BUSINESS VISA ACCOUNTS OFFER REWARD POINTS WHEN USING THE CHECK CARD OR VISA CARD. AS OF DECEMBER 31, 2016, WE SERVICE OVER 2,000 LOANS TOTALING OVER $88 MILLION.


IN MARCH 2010, FIREFIGHTERS FIRST CREDIT UNION PARTNERED WITH AN INSURANCE COMPANY TO CREATE "FIREFIGHTERS INSURANCE SERVICES" (FIS). THIS SERVICE PROVIDES MEMBERS WITH COMPETITIVE RATES FOR AUTO, HOMEOWNERS, EARTHQUAKE AND LIFE INSURANCE. THROUGH FIS WE ALSO OFFER INSURANCE COVERAGE TO LARGE ORGANIZATIONS SUCH AS OTHER CREDIT UNIONS.


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Firefighters First Credit Union Board, Officers & Key Employees

Name (title)Compensation
Michael Mastro
CEO
$604,167
Dixie Abramian
Evp
$418,816
Jason Torrey-Payne
Financial Advisor
$397,084
Matthew Mitchell
SVP Lending/operations
$292,585
Dyan Mashman
SVP It
$235,518
Kelly Ramsay
SVP Marketing
$233,807

Firefighters First Credit Union Vendors

Vendor Name (Service)Compensation
Fiserv
System Core Processor
$1,111,060
Digital Insight
Home Banking
$949,439
At&t
Phone System
$343,237
Wasatch
Janitorial Services
$412,497
Click
Appraisal Service
$345,020
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $507,350
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $149,194
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 $12,109,605

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