Premier America Credit Union

Organization Overview

Premier America Credit Union is located in Chatsworth, 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 12/2019, Premier America Credit Union employed 450 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Premier America 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, Premier America Credit Union generated $116.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $97.2m during the year ending 12/2019. While expenses have increased by 10.7% 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.

Since 2016, Premier America Credit Union has awarded 12 individual grants totaling $107,608. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION ENCOURAGED AND PROMOTED SAVINGS AND ACQUIRED 14,115 NEW MEMBERS IN 2019. TOTAL MEMBERSHIP STOOD AT 116,238 AS OF DECEMBER 31, 2019 WHILE DEPOSIT BALANCES GREW BY $139 MILLION COMPARED TO THE PREVIOUS YEAR, AND THE ORGANIZATION CONTINUED TO PAY MEMBERS FAVORABLE DIVIDEND RATES ON THEIR SAVINGS.


THE CREDIT UNION MET MORTGAGE NEEDS OF FIRST TIME HOME BUYERS AND REFINANCING NEEDS OF EXISTING HOMEOWNERS, ALLOWING THEM TO TAKE ADVANTAGE OF LOWER INTEREST RATES. LOWER INTEREST RATES WERE MADE POSSIBLE BY BEING A FNMA MORTGAGE LOAN SELLER AND SERVICER. DURING THE YEAR, THE ORGANIZATION GRANTED 570 REAL ESTATE LOANS AND HOME EQUITY LINES OF CREDIT TOTALING $445 MILLION TO ITS MEMBERS.


THE CREDIT UNION'S CORE VALUES AND PURPOSE DRIVE OUR COMMITMENT TO SERVING MEMBERS AND LOCAL COMMUNITIES. IN 2019, OUR DEDICATION TO GIVING BACK WAS OF PARAMOUNT IMPORTANCE AS PREMIER AMERICA DONATED $92,680 TO LOCAL CHARITIES AND COMMUNITY ORGANIZATIONS AND TEAM MEMBERS INVESTED 580 HOURS OF SERVICE TO NON-PROFIT ORGANIZATIONS. PREMIER AMERICA IS FOCUSED ON PROVIDING SAFE, RESPONSIBLE AND AFFORDABLE FINANCIAL SERVICES TO HELP MEMBERS REACH THEIR DREAMS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ncr Corporation
Online Banking
$1,271,578
Cu Engage Llc
Consulting
$549,449
Financial Statement Service Inc
Statement Printing/mailing
$512,330
Jack Henry And Associates
Data Processing
$1,119,702
Xo Communication A Verizon Company
Communications
$441,118
View All Vendors

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$104,892,424
Investment income $11,752,276
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $111,410
Net Gain/Loss on Asset Sales -$80,654
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $116,675,456

Grants Awarded

Over the last fiscal year, Premier America Credit Union has awarded $22,038 in support to 2 organizations.

Grant RecipientAmount

CREDIT UNION FOR KIDS

Org PageRecipient Profile

Salt Lake City, UT

PURPOSE: SPONSOR CREDIT UNION KIDS WINE AUCTION

$16,720

NORTHRIDGE HOSPITAL FOUNDATION

Org PageRecipient Profile

Northridge, CA

PURPOSE: VICTORY FOR VICTIMS FUNDRAISING WALK

$5,318
View Grant Profile

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