First Service Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
First Service Credit Union is a 501(c)(14) organization based in Houston, Texas, registered in 1976, with $91,080,564 in FY2024 revenue. CharityIndex grades it A.
16430 Park Ten Place, Houston, TX, 77084 EIN 74-1951016 Since 1976
Revenue (FY2024)
$91.1M
▲ 6.6% vs prior year
Expenses (FY2024)
$89.9M
Net assets
$146.2M
Employees
353
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for First Service Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating20 mo reserves · +1% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For First Service Credit Union: 20 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For First Service Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For First Service Credit Union: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
First service credit union is a cooperative credit union that provides financial products and services to members.
What they do
First service credit union offers checking accounts for our members. some of our checking accounts pay dividends on a monthly basis. checking accounts can be accessed through our branch network and a nationwide shared branching network. members can also access their checking accounts via home banking, telephone, mobile devices and atms. members can also pay bills online using our free bill pay service.
First service credit union provides loans to members for a variety of loan types such as new and used autos, unsecured, boat, motorcycle, recreational and real estate at very competitive rates with no pre-payment penalties.
Contact & location
Financial trends
Revenue grew from $25.2M (FY2013) to $91.1M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.5BNet assets $146.2M
Operating margin
1.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.6B
Total liabilities
$1.5B
Net assets
$146.2M
Salaries & benefits
$25.3M
28% of expenses
Board members
8
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $91,080,564▲6.6% | $89,901,579▲21.2% | $146,231,327▲3.0% | $1,605,676,109▲20.6% | 990 |
| 2023 | $85,450,936▲20.0% | $74,201,530▲21.6% | $141,943,764▲7.0% | $1,331,618,730▼4.3% | 990 |
| 2022 | $71,188,784▲31.0% | $61,019,978▲42.1% | $132,679,031▲45.5% | $1,392,074,135▲62.8% | 990 |
| 2021 | $54,328,304▲8.1% | $42,930,533▼4.8% | $91,163,466▲13.4% | $855,098,387▲8.5% | 990 |
| 2020 | $50,262,895▼2.2% | $45,112,307▼7.8% | $80,365,962▲7.4% | $788,164,452▲3.8% | 990 |
| 2019 | $51,399,270▲5.4% | $48,951,438▲14.2% | $74,854,070▲6.0% | $759,318,816▲1.7% | 990 |
| 2018 | $48,771,790▲4.0% | $42,877,936▲0.7% | $70,625,178▲7.9% | $746,344,958▲7.1% | 990 |
| 2017 | $46,908,154▲9.5% | $42,559,524▲8.5% | $65,434,431▲6.9% | $696,939,493▲12.0% | 990 |
| 2016 | $42,839,861▲2.9% | $39,228,036▲16.8% | $61,206,249▲5.6% | $622,183,577▲4.1% | 990 |
| 2015 | $41,630,849▲38.2% | $33,579,298▲36.9% | $57,963,142▲16.8% | $597,616,458▲12.0% | 990 |
| 2014 | $30,121,910▲19.5% | $24,520,338▲11.4% | $49,614,774▲19.0% | $533,714,836▲14.2% | 990 |
| 2013 | $25,200,129 | $22,015,618▲21.8% | $41,688,412▲39.9% | $467,547,841▲42.1% | 990 |
| 2012 | — | $18,075,433▼10.7% | $29,793,939▲16.5% | $329,075,326▲3.5% | 990 |
| 2011 | — | $20,245,311 | $25,567,125 | $317,935,450 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: David Bleazard — $1,482,553 (1.65% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David Bleazard | President/ceo | 50 | $1,482,553 |
| Frank Halstead | Cro | 50 | $331,468 |
| Jason Swatsenbarg | Evp/cfo | 50 | $247,592 |
| Matthew Downing | President of Ecu Technology | 50 | $226,460 |
| Michael Alexander | Financial Advisor | 50 | $220,197 |
| Rafeal Balderrabano | Cfs Advisor | 50 | $218,145 |
| Jonathan Shurtz | Evp/ In House Counsel | 50 | $210,464 |
| Teri Edge | Chief Operating Officer | 50 | $202,697 |
| Nolan Waltman | Chief Growth Officer | 50 | $201,859 |
| Kenneth Darnell | Svp It | 50 | $153,387 |
| Kerry Graham | Vp Marketing | 50 | $149,186 |
| Brett Deshazo | Vp Commercial Services | 50 | $144,629 |
| Sharon Moore | Vp Special Projects | 50 | $137,469 |
| Alvin C Comeaux | Vp Sales | 50 | $136,019 |
| Kema Cochran | Controller | 50 | $135,259 |
| Wesley Gilman | Director | 1 | $128,367 |
| Tamara Webb | Vice President of Sales | 50 | $125,549 |
| Karen Wiehoff | Vp | 50 | $125,163 |
| Robert Hannan | Vp Collections | 50 | $112,910 |
| Shailaja Thakkar | Vp Commericial Underwriter | 50 | $110,329 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| American Service Group | Warranty | $3,480,245 |
| Trustage | Insurance | $1,580,156 |
| Iesmartsystems LLC | Information Technology | $1,570,725 |
| Endurance Builders LLC | General Contractor | $1,188,197 |
| Corelation Inc | Core Processing Software | $983,667 |
Frequently asked questions
- Is First Service Credit Union a legitimate nonprofit?
- Yes. First Service Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 74-1951016, based in Houston, Texas.
- What is First Service Credit Union's EIN?
- First Service Credit Union's Employer Identification Number (EIN) is 74-1951016.
- How much revenue does First Service Credit Union report?
- First Service Credit Union reported $91,080,564 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does First Service Credit Union have?
- CharityIndex grades First Service Credit Union A, based on financial health (reserves and operating margin).
- How much does First Service Credit Union's highest-paid employee make?
- The highest reported compensation on First Service Credit Union's latest Form 990 is $1,482,553, paid to David Bleazard (President/ceo).
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Data for First Service Credit Union (EIN 74-1951016) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.