2025 Annual Report

Board of Directors

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Message to our Membership

First U.S. Community Credit Union will celebrate 90 years since we were chartered in 1936 as Sacramento U.S. Employees Federal Credit Union, with our field of membership to serve federal government employees. What started with seven employees of the U.S. Army Corps of Engineers has grown into a trusted financial partner for nearly 28,000 members across 12 counties in Northern California. Through nine decades of change, we have continued to be shaped by our original belief in the credit union philosophy of people helping people.

For many, the past year was marked by uncertainty and disruption. During challenging moments, like the six-week government shutdown, we stood alongside our members, offering furlough loans and practical support to help provide stability and peace of mind.

As our membership and communities evolve, so must the way we serve. In 2025, we introduced four core values to guide our team and strengthen our culture: Be Bold, Build Community, Cultivate Curiosity, and Lead with Care. These values reflect how we show up each day to make thoughtful decisions, embrace innovation, and provide service with empathy so we can deliver a consistently exceptional member experience.

That commitment was affirmed when First U.S. was named Silver – Credit Union in The Sacramento Bee’s Sacramento Favorites. This recognition means so much because it comes directly from our members and our community.

We also continued to invest in access and convenience. This past year, we launched a new digital lending and accounts platform, allowing new and existing members to apply online and receive approvals in minutes. We relocated our Grass Valley branch to a more modern, spacious location designed with member needs in mind, and we are already planning additional office improvements in 2026 to further enhance how and where we serve you.

First U.S. ended the year on solid financial footing, with $549 million in total assets, $351 million in loans, and $484 million in deposits. We earned $2.7 million in net income. Our financial position allows us to invest in technology, people, and the communities we serve, ensuring our future is built on stability and trust.

Throughout 2026, you’ll begin to see First U.S. showing up in fresh, more connected ways online, in our branches, and throughout our communities. Same heart. Same purpose. Just with an even better experience designed around you.

Thank you for being part of our legacy past, present, and future. We look forward to another year of growing together!

Dennis Cook
Chair of the Board

Shonna Shearson
President & CEO

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Statement of Condition

Year end December 31	2025	2024
Assets
Total Loans	$351,056,051	$354,825,643
Less Allowance	(4,938,802)	(4,810,003)
Cash	2,353,216	2,206,990
Investments	175,835,784	154,767,733
Fixed Assets	4,273,999	3,235,125
Other Assets	19,998,380	27,508,263
Total Assets	$548,578,628	$537,733,751
Liabilities & Equity
Other Liabilities	$3,780,062	$5,031,933
Total Shares	483,918,104	477,542,704
Regular Reserves	6,496,396	6,496,396
Equity Acquired in Merger	6,646,733	6,646,733
Gain(Loss) on Securities	(3,701,564)	(6,794,455)
Undivided Earnings	51,438,897	48,810,441
Total Liabilities & Equity	$548,578,628	$537,733,751

Statement of Income

Year end December 31	2025	2024
Income
Interest on Loans	$18,240,682	$16,985,527
Income from Investments	4,684,525	4,116,368
Other Operating Income	3,478,319	3,496,583
Total Revenue	$26,403,526	$24,598,478
Expenses
Employee Comp./Benefits	$8,283,013	$8,205,554
Travel & Conferences	214,782	236,248
Association Dues	67,789	55,239
Office Occupancy	952,090	749,015
Office Operations	3,574,654	3,183,243
Advertising & Promotions	686,503	294,767
Loan Servicing	1,246,789	1,132,263
Professional & Outside Services	656,868	593,887
Provision for Credit Losses	844,183	1,918,508
Other Operating Expenses	143,782	177,839
Total Operating Expenses	$16,670,453	$16,546,563
Net Income Before Dividends	$9,733,073	$8,051,915
Less Dividend on Shares	7,042,876	7,156,716
Net After Dividends	$2,690,197	$895,199
Non-Operating Income
NCUSIF/Corporate Stabilization	0	0
Gain(Loss) on Assets & Investments	(112)	(252)
Gain(Loss) Sale of Real Estate	0	0
Gain(Loss) on Sale of Other Assets	(61,629)	(137,083)
Non-Operating Income (Expense)	0	0
Net Income	$2,628,456	$757,864

Audit Committee Report

The responsibility of the Audit Committee is to ensure the sound operation of First U.S. In 2025, the Audit Committee engaged the accounting firm RSM US LLP to conduct the annual certified audit. First U.S. continues to be well managed, financially sound, and in compliance with generally accepted accounting principles. The Credit Union remains in excellent condition, having met all regulatory requirements.

Audit Committee of the Board of Directors
Stephen Serfozo, Chair
Doug Beeman
Vasantha Eswara

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