Firefighters First Credit Union
Legal name: Firefighters First Credit Union Fka Los Angeles Firemen's Credit Union
Nonprofit profile at a glance
- EIN
- 950949175
- IRS 990 coverage
- 2010–2016
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2016
- Location
- Los Angeles, CA, USA
- Phone
- 3232541700
- Rating confidence
- Limited
Reported finances
- Revenue
- $47,155,486
- Expenses
- $40,387,936
- Assets
- $1,150,509,281
- Liabilities
- $1,038,123,608
Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.
Leadership & pay
30 people listed
Executive titles in this filing
- MICHAEL MASTRO (CEO)
Highest reported compensation
- MICHAEL MASTRO (CEO): $1,042,390 total reported compensation
- DIXIE ABRAMIAN (EVP): $461,464 total reported compensation
- JASON TORREY-PAYNE (FINANCIAL ADVISOR): $435,373 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Firefighters First Credit Union is committed to providing its members with exceptional financial products and services, along with quality service. Attention to members' needs and expectations has enabled us to grow from just over 800 members the first year, to over 75,000 members today (1,600+ fire departments), with current assets over $2.4+ Billion. At Firefighters First Credit Union, legendary service is more than a goal; it is our mission. Each morning, firefighters throughout our nation arrive at their fire stations committed to serve, prepared to rescue. There are no secrets in the Fire Family. They share personal stories, ask honest questions, solicit real opinions and give sound adv.
What it reported doing in 2016
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.
Operating model
- Revenue model
- Other-operating. 96% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 87
- Accountability: 100
- Sustainability: 71
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 68th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 14.4%; rating input score 83; 83rd percentile among comparable filings
- Total-asset coverage ratio: 28.49; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0.9; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 10.4%; rating input score 13; 13th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.1% per year; rating input score 100; 24th percentile among comparable filings
- Asset growth: 5.5% per year; rating input score 100; 55th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments
- Leadership: top reported pay $1M · 30 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $3.2M reported
- Consistency: 13 of 13 current checks pass
- Schedules: 6 filed schedules · includes grants, executive pay, and related organizations
- Filing history: 6 filing years from 2010 to 2016
- Contacts: How to reach this organization
- Money network: 16 filed money-flow records
- Related organizations: 3 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Liabilities to assets ratio scored 12/100.
- High — Sustainability: Officer compensation ratio scored 13/100.