↑ parent activity group ·
research dossier →

TRUWEST CREDIT UNION
TEMPE, AZ · EIN 866050959 · Form 990 · FY2022 · Very Large (>$50M) · www.truwest.org
revenue
$72.2M
expenses
$60.3M
net assets
$114.4M
employees
319
volunteers
14
mission · from form 990

A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS.

profile · synthesized from sources

TruWest Credit Union is a financial cooperative providing banking products and services to its members, including savings accounts, certificates, mortgages, auto loans, and credit cards. It serves individuals and households primarily in Arizona and Texas, with select services available in other states. The credit union also offers financial education resources and tools to support member financial wellness.

named programs · 6 · from sources

what they call their work

Auto Loans
Financing for new and used auto purchases and refinancing with terms up to 84 months, including a 0.25% rate discount for automatic payments.
Credit Cards
Offers multiple Visa credit card products including cash back, points rewards, and credit builder cards with variable APRs based on creditworthiness and a 0% intro APR for 18 billing cycles.
Financial Resource Center
Offers educational tools such as Enrich™ and It’s a Money Thing® for financial literacy, including budgeting, credit management, and debt reduction resources.
Home Mortgage Program
Offers fixed-rate and adjustable-rate mortgages for primary residences; includes down payment assistance through the WISH Program for eligible first-time homebuyers in Arizona and Texas.
Savings and Certificates
Provides share savings accounts and certificate terms (6–60 months) with dividends; requires $500 minimum deposit to earn dividends.
WISH Program
Down payment assistance grant program for first-time homebuyers with income at or below 78% of HUD area median income; provides matching funds up to $32,837, forgiven after five years of homeownership.
activities · 6 groups

what they do

  • Credit Counseling and Debt Management 7 activities
    • Credit Score Education
      Provides members with access to SavvyMoney, a credit score education tool that helps them understand the factors influencing their credit score and improve their financial health.
    • Credit Score Education Tool
      Provides members with access to SavvyMoney, a tool designed to educate users about their credit score and the factors that influence it.
    • Credit Score Education Tool
      Provides members with access to SavvyMoney, a tool designed to educate users about their credit score and the factors that influence it.
    • Financial Education Programs
      Offers members access to personal finance resources including the Enrich™ financial wellness program and the It’s a Money Thing® video series to support financial literacy.
    • Financial Education Programs
      Offers members access to financial education resources including Enrich™, a personal finance program, and It’s a Money Thing®, a video-based financial literacy series, to support financial wellness.
    • Financial Education Programs
      Provides members with access to personal finance education resources, including the Enrich™ program, It’s a Money Thing® video series, and SavvyMoney for credit score education.
    • Financial Education Programs
      Offers members access to personal finance resources including the Enrich™ financial wellness program and the It’s a Money Thing® video series to support financial literacy.
  • Digital Banking and Payment Services 7 activities
    • Debit and ATM Card Management
      Provides a mobile Card Manager app for iPhone and Android devices, allowing members to manage their debit and ATM cards, including a feature to lock cards to prevent unauthorized transactions.
    • Digital Banking Tools
      Offers a mobile Card Manager app for iOS and Android that enables members to manage, lock, and unlock their debit or ATM cards, and integrates Zelle® for fast peer-to-peer money transfers within mobile and online banking platforms.
    • Digital Banking and Card Management
      Offers a mobile Card Manager app for iOS and Android that enables members to manage, lock, and secure their debit or ATM cards, along with Zelle® integration for fast peer-to-peer money transfers via mobile and online banking platforms.
    • Digital Banking and Card Management Services
      Offers a mobile Card Manager app for iOS and Android that enables members to manage, lock, and secure their debit or ATM cards, along with Zelle® integration for fast peer-to-peer money transfers.
    • External Account Transfer Service
      Provides external account transfer services with fees structured according to the transfer amount.
    • External Account Transfer Services
      Provides external account transfer services with fees applied based on the transfer amount.
    • Money Transfer Services
      Enables members to send and receive money quickly using Zelle® through its mobile and online banking platforms, and offers external account transfer services with fees based on the transfer amount.
  • Homeownership Down Payment Assistance 4 activities
    • Down Payment Assistance (WISH Program)
      Provides down payment assistance grants through the WISH Program with a maximum match of $32,837, secured by a five-year lien on the property that is forgiven upon completion of five years of continuous primary residence ownership.
    • Down Payment Assistance (WISH Program)
      Provides down payment assistance grants of up to $32,837 through the WISH Program, with grant forgiveness after five years of continuous primary residence ownership and a lien placed on the property during that period.
    • Down Payment Assistance Grants
      Offers down payment assistance grants of up to $32,837 through the WISH Program, which are secured by a five-year lien on the property and forgiven if the property remains the primary residence for that period.
    • Down Payment Assistance Program (WISH Program)
      Provides down payment assistance grants of up to $32,837 through the WISH Program, with grant forgiveness after five years of continuous primary residence ownership and a lien placed on the property during that period.
  • Basic Banking and Savings Accounts 3 activities
    • Rewards Checking Account Program
      Offers a rewards checking account that requires a monthly direct deposit and 15 qualifying debit or credit transactions to earn rewards.
    • Rewards Checking Account Program
      Operates a rewards checking account program that requires monthly direct deposits and 15 qualifying debit or credit transactions to earn rewards.
    • Rewards Checking Account Program
      Offers a rewards checking account that requires a monthly direct deposit and 15 qualifying debit or credit transactions to earn member rewards.
  • Appointment-Based Service Access 2 activities
    • Customer Support
      Offers live customer support during business hours, Monday through Friday, from 8:30 AM to 4:45 PM MST.
    • Live Member Support
      Offers live customer support during business hours, Monday through Friday from 8:30 AM to 4:45 PM MST.
  • Uncategorized 1 activity
    • Live Member Support
      Offers live customer support during business hours, Monday through Friday from 8:30 AM to 4:45 PM MST.
financials · form 990 · fy2022
revenue
Total revenue$72.24M
Contributions & grants$00%
Program service revenue$61.79M86%
Investment income$9.04M13%
Other revenue$1.41M
expenses
Total expenses$60.30M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$32.40M
Grants paid out$252K
Largest expense lineCompensation
balance sheet
Total assets$1.51B
Cash$90.62M
Investments$214.98M
Liabilities$1.40B
Net assets$114.43M
Liquid reserves60.8 mo
3 years on record · 2020–2022 · YoY revenue +12.8%
leadership · form 990 part vii · fy2022

who runs it

paid leadership · 22
NameTitleHours/wkCompensation
ALAN ALTHOUSE PRESIDENT & CEO 40 $1.11M
GARY BERNARD EVP CHIEF OPERATIONS OFFICER 40 $547K
KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 40 $526K
KELLY ARGALL MORTGAGE LOAN OFFICER 40 $520K
FRED FARBOD SVP CHIEF LENDING OFFICER 40 $499K
BRENT CATTANI FINANCIAL ADVISOR II 40 $486K
CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 40 $476K
MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 40 $430K
KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 40 $421K
ALYSSE MEDINA SVP AND CHIEF LEGAL OFFICER 40 $364K
JENNIFER KIMMELL SVP CHIEF MARKETING OFFICER 40 $327K
DARREN KENNON MORTGAGE LOAN OFFICER 40 $313K
NIKKI BADJE SVP CHIEF HUMAN RESOURCES OFFICER 40 $231K
RICK O'CONNOR CHAIRMAN 5 $19K
SCOTT JOHS TREASURER 2 $13K
SUSANNA DEFRANCO SECRETARY 1 $12K
THOMAS CUMMISKEY DIRECTOR 1 $12K
MIKE VASKO DIRECTOR 1 $12K
MIKE MOULTON VICE CHAIRMAN 1 $12K
JEFF HOMER DIRECTOR 1 $11K
TIM NIESZ DIRECTOR 1 $10K
DAVE HOLODY DIRECTOR 1 $9K
relationships · 9

who they work with

  • Currency Marketing Inc. Partner — Provider of the It’s a Money Thing® financial education tool offered by TruWest Credit Union.
  • Early Warning Services, LLC Partner — Licensor of Zelle®, which is integrated into TruWest's mobile and online banking services for person-to-person payments.
  • Federal Home Loan Bank of San Francisco Government — Uses income eligibility guidelines published by the Federal Home Loan Bank of San Francisco for the WISH Program.
  • SavvyMoney, Inc. Partner — Provides credit score monitoring and financial education tools integrated into TruWest's online banking platform.
  • SavvyMoney, Inc. Partner — Provides the SavvyMoney credit score education tool integrated into TruWest's online banking platform.
  • VISA U.S.A. Inc. Partner — Partnership to issue TruWest-branded Visa credit and debit cards.
  • Visa U.S.A. Inc. Partner — Partnership to issue Visa-branded credit cards
  • Visa U.S.A. Inc. Partner — Partnership to issue co-branded Visa credit cards
  • iGrad Partner — Provider of the Enrich™ personal finance program offered by TruWest Credit Union.