Patelco Credit Union
- Assets
- $7.3b
- Revenue
- $299.7m
- Investments
- $23.7m
- Employees
- 928
- Location
- Dublin, CA
- Founding
- 09/1961
- Data as of
- 12/2019
- EIN
- 94-0755684
Organization Overview
Patelco Credit Union is located in Dublin, CA. The organization was established in 1961. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, Patelco Credit Union employed 928 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Patelco Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2019, Patelco Credit Union generated $299.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $234.8m during the year ending 12/2019. While expenses have increased by 10.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Patelco Credit Union has awarded 11 individual grants totaling $220,706. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES A BROAD RANGE OF LOAN & DEPOSIT PRODUCTS AND OTHER FINANCIAL SERVICES TO ITS MEMBERS LOCATED IN NORTHERN CALIFORNIA AND ILLINOIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATELCO CREDIT UNION IS A STATE-CHARTERED CREDIT UNION THAT IS COMMITTED TO PROVIDE ITS MEMBERS WITH SUPERIOR FINANCIAL SERVICES. ITS PRIMARY FUNCTION IS TO PROVIDE LOANS TO ITS MEMBERS AS WELL AS ACCEPT DEPOSITS FROM THEM. IN 2019, THE CREDIT UNION PROVIDED MEMBERS WITH 4,314 NEW REAL ESTATE LOANS TOTALING $1,412,936,497, AND 48,716 NEW CONSUMER LOANS TOTALING $896,665,359. AS OF DEC 31, 2019, THERE WERE 881,236 DEPOSIT ACCOUNTS TOTALING $6,130,385,756.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Mendez President/ceo | Officer | 40 | $992,069 |
Kevin Hayden Investment Sales | 40 | $619,986 | |
Emmanuel Pablo Loan Sales | 40 | $576,309 | |
Susan Gruber Evp, CFO | Officer | 40 | $529,202 |
Arlene J Piazza Loan Sales | 40 | $509,990 | |
Mitsuho R Wada Clo | Officer | 40 | $474,111 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Avtex Solutions It Products And Services | 12/30/19 | $293,871 |
Ratereset Loan Services | 12/30/19 | $308,920 |
People 20 North America Temp Agency | 12/30/19 | $824,987 |
Mortgage Cadence Llc Mortgage Services | 12/30/19 | $721,974 |
Moss Adams Audit Services | 12/30/19 | $273,735 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $254,725,263 |
| Investment income | $31,481,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,888,815 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $299,706,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $241,056 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $8,594,439 |
| Other salaries and wages | $55,407,809 |
| Pension plan accruals and contributions | $3,489,416 |
| Other employee benefits | $9,249,173 |
| Payroll taxes | $4,569,887 |
| Fees for services: Management | $1,386,537 |
| Fees for services: Legal | $465,780 |
| Fees for services: Accounting | $319,982 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,873,741 |
| Advertising and promotion | $6,431,664 |
| Office expenses | $5,390,918 |
| Information technology | $7,885,230 |
| Royalties | $0 |
| Occupancy | $12,828,164 |
| Travel | $1,363,563 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $73,033,108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,232,615 |
| Insurance | $1,016,108 |
| All other expenses | $5,591,004 |
| Total functional expenses | $234,831,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,877,210 |
| Savings and temporary cash investments | $368,315,072 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,198,211 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,583,293,720 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,251,882 |
| Net Land, buildings, and equipment | $98,741,147 |
| Investments—publicly traded securities | $803,184,234 |
| Investments—other securities | $23,694,209 |
| Investments—program-related | $0 |
| Intangible assets | $24,410,546 |
| Other assets | $330,376,733 |
| Total assets | $7,290,342,964 |
| Accounts payable and accrued expenses | $49,979,508 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $12,609,595 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,467,565,569 |
| Total liabilities | $6,530,154,672 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $760,188,292 |
| Total liabilities and net assets/fund balances | $7,290,342,964 |
Grants Awarded
Over the last fiscal year, Patelco Credit Union has awarded $220,706 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Oakland, CA PURPOSE: CONTRIBUTIONS | $70,000 |
Salt Lake City, UT PURPOSE: CONTRIBUTIONS | $46,840 |
Redding, CA PURPOSE: CONTRIBUTIONS | $21,366 |
Madison, WI PURPOSE: CONTRIBUTIONS | $20,000 |
Ontario, CA PURPOSE: CONTRIBUTIONS | $15,000 |
Madison, WI PURPOSE: CONTRIBUTIONS | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Golden 1 Credit Union Sacramento, CA | $12,993,881,498 | $532,330,203 |
San Diego County Credit Union San Diego, CA | $8,469,209,045 | $343,670,713 |
Patelco Credit Union Dublin, CA | $7,290,342,964 | $299,706,510 |
Onpoint Community Credit Union Portland, OR | $7,902,214,326 | $316,165,709 |
Credit Unions In The State Of California Sunnyvale, CA | $9,073,674,668 | $257,132,367 |
Credit Unions In The State Of California Pasadena, CA | $3,690,408,153 | $217,920,461 |
Travis Credit Union Vacaville, CA | $3,365,005,976 | $180,779,315 |
Safe Credit Union Folsom, CA | $3,814,181,101 | $166,534,195 |
Credit Unions In The State Of California Santa Rosa, CA | $4,988,759,555 | $237,085,485 |
One Az Credit Union Phoenix, AZ | $2,608,126,699 | $106,232,415 |
California Credit Union Glendale, CA | $3,190,811,816 | $155,942,457 |
Educational Employees Credit Union Fresno, CA | $3,213,871,503 | $143,847,329 |