Annual Report 2023
A vision for the future
2023 Year in Review
During this pivotal year of transformation at OneAZ, our underlying mission remained constant and strong. OneAZ aims to perpetually improve technology and processes, setting the trend for a more connected, more convenient, and more personalized banking experience. We’ll leverage our past successes and build on our 72-year legacy of serving Arizonans. Whether you’re new to the credit union or are a long-term member, we’re grateful to serve you and thank you for your patience as we embark on this transition.
Here are a few ways we served Arizonans in 2023:
$2,958,563,655
Total Deposit
Balance
$71,252,381
Business
Loans
$202,217,340
First
Home Loans
185,000
Total Membership
6,191
Credit
Cards
20,478
Total Loan
Originations
20
Branches
$102,218,006
2nd Mortgage and HELOC
$475,000+
Community
Giving
$3.4 Billion
Total
Assets
OneAZ Community Foundation
Improving Communities Across Arizona
The OneAZ Community Foundation upholds our mission of truly improving lives in the communities we serve by supporting nonprofit organizations throughout Arizona. The Foundation is funded largely by members – each time a member uses their OneAZ debit card we donate one cent to the OneAZ Community Foundation. This means that as OneAZ grows, our ability to change lives in our members’ neighborhoods also grows.
2023 Giving
-
Community
Impact Grant$330,000
-
Legacy Grant
Program$142,000
-
AZ
Gives Day$3,200
-
Since
2016$1.6M
Total Giving:
$475,200
Community Service
OneAZ associates contributed
3,564
total hours of community service in 2023.
Who We Help
The OneAZ Community Foundation’s charitable giving is guided by Five Pillars of Support. By supporting nonprofit organizations with missions, programs, or initiatives that uphold these Five Pillars, we ensure that our giving builds strong communities across Arizona.
Children's
Health
Food
Banks
Financial
Education
Veterans'
Interests
Local Youth
Programs
The Impact
Legacy Grants
We donated $142,000 to five nonprofit organizations as part of our Legacy Grant program. These organizations were chosen because each presented an opportunity for OneAZ to make a significant impact on the community that will last for years to come.
Legacy Grant Awards
$60,000
Foothills Food Bank & Resource Center, Phoenix
Funds will help build a new facility and resource room that will allow the organization to enhance its capacity to address the underlying factors contributing to food insecurity.
$20,000
Sleep in Heavenly Peace
This grant will go towards the materials needed to build and assemble 80 bunk beds and bedding for children in need across the Valley.
$32,000
Manzanita Outreach, Cottonwood
The grant will be used to purchase a refrigerated van that will expand the organization’s ability to address the issue of food insecurity in the Verde Valley.
$20,000
Flagstaff Unified School District Foundation, Flagstaff
This grant will provide funding for two major initiatives supporting Flagstaff teachers – the FUSD Foundation Microgrant Program and the FUSD Teacher’s Closet.
$10,000
Arizona Heroes Memorial, Oro Valley
This grant will help cover building costs for the Arizona Heroes Memorial project to honor Southern Arizona’s veterans and first responders.
$80,000
$52,000
$10,000
Community Impact Grant Recipients
In 2023, the OneAZ Community Foundation achieved our biggest year yet for the Community Impact Grant program. Our annual grant program provided $5,000 grants to 66 nonprofits in the communities where our members live and work – a total of $330,000 given across Arizona! See our full grant recipient list below.
Community Impact Grants allow non-profit organizations across the state to provide a greater impact with their mission. Check out how a few of these leaders are using their funds to make a difference.
Diversity at OneAZ
We are committed to transparency and accountability on our journey towards creating an equitable banking experience for our members, an inclusive culture for our associates, and a community that uplifts the lives of all Arizonans.
Demographic Representation
OneAZ Associates
526 =
Arizona Population
62 Total Promotions in 2023
pie chart - Promotions - by gender
Gender
47 Female
14 Male
pie chart - Promotions - by
ethnicity
Ethnicity
37 White
22 Hispanic or Latino
1 American Indian or
Alaska Native
1 Asian
Management Promotions: 13
Assistant Manager: 4
Assistant Director: 2
Regional President: 1
VP: 1
Manager: 2
Regional Sales Leader: 1
SVP: 1
Gender
Ethnicity
Management Promotions: 13
Assistant Manager: 4
Assistant Director: 2
Regional President: 1
VP: 1
Manager: 2
Regional Sales Leader: 1
SVP: 1
Financial Summary
The financial report below shows that OneAZ remains a financially stable and strong credit union for its members and associates. In 2023, the dedicated work and influence of OneAZ’s associates, leaders and the executive team had a tremendous impact on the credit union’s growth and strength.
Balance Sheet | $ Thousands | 2023 | 2022 |
---|---|---|
Cash and cash equivalents | $115,424 | $79,079 |
Investment Securities | ||
Investments | $1,025,795 | $1,186,240 |
Loans to members, net of allowance for loan losses | $2,121,321 | $1,883,613 |
Premises and equipment | $65,315 | $67,540 |
NCUSIF Deposit | $26,897 | $26,622 |
Other Assets | $29,774 | $27,557 |
Total Assets | $3,384,526 | $3,270,651 |
Members' share accounts | $2,961,070 | $2,966,457 |
Borrowed funds | $180,066 | $100,000 |
Accrued expenses and other liabilities | $22,817 | $18,766 |
Total Liabilities | $3,163,953 | $3,085,223 |
Total members' equity | $220,573 | $185,429 |
Total Liabilities and Members Equity | $3,384,526 | $3,270,652 |
Statement of Income | $ Thousands | 2023 | 2022 |
---|---|---|
Net interest income | $102,457 | $80,174 |
Provision for loan losses | $7,359 | $(25,159) |
Net interest income after provision for loan losses | $95,098 | $105,333 |
Non-interest income | $38,200 | $41,946 |
Non-interest expense | $108,385 | $106,915 |
Net Income | $24,913 | $40,364 |
Supervisory Committee Report
Your Supervisory Committee is appointed by the Board of Directors and is responsible for ensuring that the assets of OneAZ Credit Union are safeguarded; an independent audit is performed annually; account balances of the membership are verified; and appropriate policies and procedures exist to ensure compliance with management’s objectives and regulatory requirements. These responsibilities are accomplished through regular meetings with the Board of Directors, Credit Union management and staff, Risk Management/Internal Audit, external auditors, and regulators to review the Credit Union’s activities and audit results.
As of September 30th, 2023, the Arizona State Department of Financial Institutions and Insurance and the National Credit Union Administration jointly completed their annual regulatory examination. In addition, Doeren Mayhew, a national CPA firm with recognized expertise in the credit union industry, has conducted an independent audit of the 2023 financial statements and members account verification procedures. The results of our external audits reflect a continued adherence to sound internal controls and conservative business practices.
The Supervisory Committee has concluded that OneAZ Credit Union remains compliant with financial and operational internal controls and applicable regulatory requirements. We wish to express our appreciation to the Board of Directors, management and staff for their continued cooperation, compliance and dedication to the success of OneAZ Credit Union.
Henry Blanco, Chairman | Sara Click, Member | Paul Thomas, Member
2023 Board of Directors
Jon Borge
Chairman
Dr. Pearlette Ramos
Vice Chairperson
Dr. Ryan Williams
Treasurer
Georganna Meyer
Secretary
Martha Rozen
Director
Ed Sanchez
Director
Sam Wheeler
Director
Marquetta White
Director
Joseph C. Smith
Advisory Director