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COPPER STATE CREDIT UNION
PHOENIX, AZ · EIN 866050693 · Form 990 · FY2022 · Large ($10M-$50M) · www.copperstatecu.org
revenue
$28.6M
expenses
$24.8M
net assets
$33.0M
employees
188
volunteers
18
mission · from form 990

OUR MISSION IS TO ENABLE OUR MEMBERFAMILIES TO ACHIEVE FINANCIAL PROSPERITY.

profile · synthesized from sources

Copper State Credit Union is a financial cooperative providing various lending products to its members in Arizona. They offer home equity loans and lines of credit for purposes such as home improvement, debt consolidation, and major expenses, emphasizing competitive rates and flexible terms.

irs program accomplishments · form 990 part iii · fy2022

what they reported doing

Program narrative the organization filed with the IRS. Ordered by program spending.

  1. #1 primary $0
    PROMOTE THRIFT TO 44,484 MEMBERS WITH TOTAL DEPOSITS OF $541,974,644 AS OF DECEMBER 31, 2022.
  2. #2 $0
    PROVIDE FINANCIAL SERVICES, INCLUDING CHECKING ACCOUNTS, ATM/DEBIT CARDS, CREDIT CARDS, SAVINGS ACCOUNTS, CERTIFICATES OF DEPOSIT AND MONEY MARKET ACCOUNTS.
named programs · 6 · from sources

what they call their work

CashPlease®
Offers fast access to funds for unexpected expenses without a credit check, as an alternative to high-cost payday loans.
GreenPathTM Financial Coaching
Provides free financial coaching to help members manage finances and plan for the future, particularly in the context of debt consolidation.
Home Equity Lines of Credit (HELOCs)
Offers a flexible line of credit allowing members to borrow funds as needed, with variable interest rates and options for interest-only payments during the draw period, backed by home equity.
Home Equity Loans
Provides a lump sum loan with a fixed interest rate and predictable monthly payments, backed by the equity in a member's home, for purposes like home improvements, college tuition, major expenses, or debt consolidation.
Home Equity Refinancing
Allows members to refinance existing home equity loans from other lenders to potentially lower interest rates, borrow more, adjust terms, or switch to steady payments.
Pool Loans
Provides affordable financing for the installation or renovation of swimming pools.
activities · 8 groups

what they do

  • Basic Banking and Savings Accounts 10 activities
    • Provide Checking Accounts
      Offers checking accounts, including Teen Checking Accounts for individuals aged 13-17, with online opening options and a fee waiver on monthly paper statement charges for primary members under 18 years old.
    • Provide Checking Accounts
      Offers checking accounts, including Teen Checking Accounts for individuals aged 13-17, with online opening options and fee waivers on monthly paper statement charges for primary members under 18 years old.
    • Provide Checking Accounts
      Offers online opening of checking accounts, including Teen Checking Accounts for individuals aged 13-17, and provides a fee waiver on monthly paper statement charges for primary members under 18 years old.
    • Provide Checking Accounts
      Offers checking accounts, including Teen Checking Accounts for individuals aged 13-17, with online opening options and a fee waiver on monthly paper statement charges for primary members under 18 years old.
    • Provide Checking Accounts
      Offers checking accounts, including Teen Checking Accounts for individuals aged 13-17, with online opening options and fee waivers for monthly paper statements for primary members under 18 years old.
    • Provide Savings Accounts
      Offers savings accounts to members, requiring a $5 minimum balance, providing regular dividends with an APY of 0.10%, and allowing multiple accounts for management. Members also receive individualized customer service and free 24/7 online and mobile banking access.
    • Provide Savings Accounts
      Offers savings accounts to members, requiring a $5 minimum balance, providing regular dividends with an APY of 0.10%, and allowing multiple accounts for management. Members also receive individualized customer service and free 24/7 online and mobile banking access.
    • Provide Savings Accounts
      Offers savings accounts with a minimum balance requirement of $5, providing regular dividends with an APY of 0.10% and allowing members to open and manage multiple accounts. Members also receive individualized customer service and free 24/7 online and mobile banking access.
    • Provide Savings Accounts
      Offers savings accounts with a minimum balance requirement of $5, providing regular dividends with an APY of 0.10%, and allowing members to open and manage multiple accounts.
    • Provide Savings Accounts
      Offers savings accounts with a minimum balance requirement of $5, providing regular dividends and allowing members to open and manage multiple accounts. Members also receive individualized customer service and free 24/7 online and mobile banking access.
  • Home Equity Lending Services 9 activities
    • Offer Home Equity Lines of Credit (HELOCs)
      Provides Home Equity Lines of Credit (HELOCs) up to $350,000, covering up to 80% of a home's appraised value, for purposes such as home improvements, debt consolidation, and major purchases. Applications can be submitted online, by phone, or in person.
    • Offer Home Equity Lines of Credit (HELOCs)
      Provides Home Equity Lines of Credit (HELOCs) up to $350,000, covering up to 80% of a home's appraised value, for purposes such as home improvements, debt consolidation, and major purchases. Applications can be submitted online, by phone, or in person.
    • Offer Home Equity Loans
      Provides home equity loans ranging from $15,000 to $350,000, allowing members to borrow up to 100% of their home equity based on credit and appraised value, with repayment terms from 60 to 180 months. These loans can be used for home improvements, college tuition, major expenses, or debt consolidation and may include promotional offers like no closing costs and cash bonuses.
    • Offer Home Equity Loans
      Provides home equity loans ranging from $15,000 to $350,000, allowing members to borrow up to 100% of their home equity based on credit and appraised value, with repayment terms from 60 to 180 months. These loans can be used for home improvements, college tuition, major expenses, or debt consolidation and may include promotional offers like no closing costs and cash bonuses.
    • Provide Home Equity Lines of Credit (HELOCs)
      Offers Home Equity Lines of Credit (HELOCs) with a maximum borrowing limit of $350,000, up to 80% of a home's appraised value, for financing home improvements, debt consolidation, and major purchases, with application available online, by phone, or in person.
    • Provide Home Equity Lines of Credit (HELOCs)
      Offers Home Equity Lines of Credit (HELOCs) up to $350,000, covering up to 80% of a home's appraised value, for purposes such as home improvements, debt consolidation, and major purchases. Applications can be submitted online, by phone, or in person.
    • Provide Home Equity Loans
      Offers home equity loans ranging from $15,000 to $350,000, allowing borrowing up to 100% of a member's home equity with low fixed rates and flexible terms (60 to 180 months). These loans can be used for home improvements, college tuition, major expenses, or debt consolidation, and may include promotional offers like no closing costs and cash bonuses.
    • Provide Home Equity Loans
      Offers home equity loans ranging from $15,000 to $350,000 with low fixed rates and flexible terms (60 to 180 months) for purposes such as home improvements, college tuition, major expenses, or debt consolidation, allowing borrowing up to 100% of a member's home equity.
    • Provide Home Equity Loans
      Offers home equity loans ranging from $15,000 to $350,000 with low fixed rates and flexible terms (60 to 180 months) for purposes such as home improvements, college tuition, major expenses, or debt consolidation, allowing borrowing up to 100% of a member's home equity based on credit and appraised value. Promotional offers include no closing costs and cash bonuses for qualifying loans.
  • Homeownership Down Payment Assistance 6 activities
    • Offer Mortgage Purchase Incentives
      Offers a $500 gift card promotional incentive for new mortgage purchases.
    • Offer Mortgage Purchase Incentives
      Offers a $500 gift card as a promotional incentive for new mortgage purchases.
    • Provide Down Payment and Closing Cost Assistance
      Provides grant funds through the WISH program for down payment and closing costs for eligible first-time homebuyers purchasing owner-occupied housing units as their primary residence.
    • Provide Down Payment and Closing Cost Assistance
      Provides grant funds through the WISH program for down payment and closing costs for first-time homebuyers and eligible households purchasing owner-occupied housing units as their primary residence.
    • Provide Down Payment and Closing Cost Assistance
      Provides grant funds through the WISH program for down payment and closing costs for eligible first-time homebuyers purchasing owner-occupied housing units as their primary residence.
    • Provide First-Time Homebuyer Grants (WISH Program)
      Provides grant funds through the WISH program for down payment and closing costs for eligible households purchasing owner-occupied housing units as their primary residence.
  • Basic Needs Provision for Youth and Families 5 activities
    • Community Donations and Volunteering
      Donates annually to Phoenix Children's Hospital and supports other local organizations like Future Business Leaders of America, Junior Achievement, RVN3 in Payson, and ElevateEdAZ through volunteering and donations.
    • Community Support and Donations
      Donates annually to Phoenix Children's Hospital to support families fighting childhood cancer and volunteers/donates to organizations like Future Business Leaders of America, Junior Achievement, RVN3 in Payson, and ElevateEdAZ.
    • Support Community Organizations
      Donates annually to Phoenix Children's Hospital and supports organizations like Future Business Leaders of America, Junior Achievement, RVN3 in Payson, and ElevateEdAZ through volunteering and donations.
    • Support Community Organizations
      Donates annually to Phoenix Children's Hospital and supports organizations such as Future Business Leaders of America, Junior Achievement, RVN3 in Payson, and ElevateEdAZ through volunteering and donations.
    • Support Community Organizations
      Donates annually to Phoenix Children's Hospital and volunteers/donates to organizations such as Future Business Leaders of America, Junior Achievement, RVN3 in Payson, and ElevateEdAZ.
  • Credit Union Branch Operations 5 activities
    • Operate Branch Locations
      Operates seven branch locations across Arizona to provide in-person services to members.
    • Operate Branch Locations
      Operates seven branch locations in Arizona to provide in-person services to members.
    • Operate Branch Locations
      Operates seven branch locations across Arizona to provide in-person services to members.
    • Operate Branch Locations
      Operates seven physical branch locations across Arizona to serve its members.
    • Operate Branch Locations
      Operates seven branch locations across Arizona to serve its members.
  • Digital Banking and Payment Services 3 activities
    • Facilitate External Account Transfers
      Enables members to set up and verify external transfers by entering routing and account numbers for linked accounts, confirming verification through small deposits.
    • Facilitate External Account Transfers
      Enables members to set up and verify external transfers by entering routing and account numbers for linked accounts, confirming verification through small deposits.
    • Provide Online and Mobile Banking
      Provides free 24/7 online and mobile banking access to members.
  • Youth Financial Literacy Education 3 activities
    • Offer Financial Education
      Provides free financial education game simulations through Banzai in 18 schools across Arizona, reaching over 1,200 students annually.
    • Provide Financial Education
      Provides free financial education game simulations through Banzai in 18 schools across Arizona, reaching over 1,200 students annually.
    • Provide Financial Education
      Provides free financial education game simulations through Banzai to over 1,200 students annually in 18 schools across Arizona.
  • Vehicle and Personal Loan Financing 3 activities
    • Provide Auto Loans
      Offers auto loans with minimum financing amounts of $15,000 for 72-month terms and $25,000 for 84-month terms, including promotional incentives such as 1% cash back on vehicle purchases or refinances and a 60-day no payments option.
    • Provide Auto Loans
      Offers auto loans with minimum financing amounts of $15,000 for 72-month terms and $25,000 for 84-month terms, including a 1% cash back promotional incentive for vehicle purchases or refinances and a 60-day no payments option.
    • Provide Auto Loans
      Offers auto loans with minimum financing amounts of $15,000 for 72-month terms and $25,000 for 84-month terms, including a 1% cash back promotional incentive for vehicle purchases or refinances over $15,000 and a 60-day no payments option.
financials · form 990 · fy2022
revenue
Total revenue$28.59M
Contributions & grants$00%
Program service revenue$25.59M90%
Investment income$3.00M11%
Other revenue$0
expenses
Total expenses$24.83M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$10.83M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$609.48M
Cash$15.06M
Investments$106.39M
Liabilities$576.48M
Net assets$33.00M
Liquid reserves58.7 mo
3 years on record · 2020–2022 · YoY revenue +18.4%
leadership · form 990 part vii · fy2022

who runs it

paid leadership · 25
NameTitleHours/wkCompensation
GREGORY ALBANO SENIOR VP/ CIO 50 $671K
ROBERT SCOTT PRESIDENT/CEO 50 $475K
ANTHONY ROCHA FINANCIAL ADVISOR 50 $206K
RICHARD REILEY CHIEF LENDING OFFICER 50 $197K
DAVID SKILTON CHIEF FINANCIAL OFFICER 50 $191K
JUSTIN WOLFE CHIEF RETAIL OPERATIONS OFFICER 50 $174K
JENNIFER WADE CHIEF MARKETING OFFICER 50 $153K
ANDREW ROBERTS CHAIRPERSON 1 $5K
JANET BURGETT MARTIN DIRECTOR 1 $5K
ERICA GIBBONS DIRECTOR 1 $4K
MELANIE MERRILL SECRETARY 1 $4K
STEVE WOLFE DIRECTOR 1 $4K
DENNIS MCDONALD VICE CHAIRPERSON 1 $4K
PAUL WATERMAN TREASURER 1 $4K
JERRY HARTRIM DIRECTOR 1 $4K
TILLIE JONES DIRECTOR 1 $4K
ROGER ZOLLINGER DIRECTOR 1 $3K
DAVID MATSON COMMITTEE CHAIRPERSON 1 $2K
ALBERT DUBOWA COMMITTEE MEMBER 1 $2K
HARSHAD DESAI COMMITTEE MEMBER 1 $2K
LUPE HARRIGER COMMITTEE MEMBER 1 $2K
FRANK MARTINSON COMMITTEE MEMBER 1 $2K
CHRIS URNESS DIRECTOR 1 $1K
WING-HO CHOI ASSOCIATE BOARD MEMBER 1 $900
MICHAEL JOSEPH ASSOCIATE BOARD MEMBER 1 $600
relationships · 28

who they work with

  • Allpoint ATM Network Partner — Provides access to over 55,000 surcharge-free ATMs.
  • Allpoint Network™ Network — Member of the Allpoint Network™, enabling members to access surcharge-free ATMs nationwide.
  • Allpoint Network™ Network — Partner network providing surcharge-free ATM access nationwide.
  • Arizona down payment assistance programs Partner — Offers members access to down payment assistance programs for first-time homebuyers.
  • Automotive Warranty Services of Florida, Inc. Partner — Provides and administers Mechanical Repair Coverage in Florida, Louisiana, and Oklahoma.
  • Banzai Partner — Provides free financial education game simulations in schools.
  • CO-OP Shared Branch Network Network — Allows members to access accounts through over 5,000 participating branch locations across the United States.
  • CO-OP Shared Branching Network Network — Participates in the CO-OP Shared Branching Network to provide members access to shared branch locations.
  • CO-OP Shared Branching Network Network — Partner network enabling shared branching services for members.
  • CUNA Mutual Insurance Agency, Inc. Partner — Makes Mechanical Repair Coverage available to Copper State Credit Union members.
  • Clarke American Partner — Partner for check reordering services.
  • Consumer Program Administrators, Inc. Partner — Administers Mechanical Repair Coverage for Copper State Credit Union in most states.
  • ElevateEdAZ Partner — Volunteers and/or donates to the organization.
  • Federal Home Loan Bank of San Francisco Partner — Partner in providing grant funds through the WISH program for first-time homebuyer down payment and closing cost assistance.
  • Forevercar, Inc. Partner — Powers the MEMBER’S CHOICE® Mechanical Repair Coverage offered through Copper State Credit Union.
  • Future Business Leaders of America Partner — Volunteers and/or donates to the organization.
  • GreenPathTM Partner — Provides free financial coaching to members through a partnership with GreenPath.
  • Housing and Urban Development Government — References HUD area median income for income eligibility determination in the WISH Program.
  • Junior Achievement Partner — Volunteers and/or donates to the organization.
  • NCUA - National Credit Union Administration Government — Insures member deposits up to at least $250,000.
  • National Product Care Company Partner — Provides Mechanical Repair Coverage in Washington state.
  • Online Banking Partner — Integrated platform for members to access HELOC funds and manage accounts.
  • PFG Advisors, LLC Partner — Provides SEC-registered investment advisory services in partnership with Copper State Credit Union
  • Phoenix Children's Hospital Partner — Donates annually to help families fighting childhood cancer.
  • RVN3 Partner — Volunteers and/or donates to the organization in Payson.
  • The Foster Alliance Partner — Partners to support families caring for children in foster care, including a back-to-school drive.
  • United Planners Financial Services Partner — Offers securities services to Copper State Credit Union members as a FINRA/SIPC-member firm
  • Virginia Surety Company, Inc. Partner — Underwrites Mechanical Repair Coverage as insurance in California.