Schools Financial Credit Union

Organization Overview

Schools Financial Credit Union is located in Sacramento, 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, Schools Financial Credit Union employed 390 individuals.

For the year ending 12/2019, Schools Financial Credit Union generated $101.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $69.3m during the year ending 12/2019. While expenses have increased by 8.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE MEMBERS WITH BETTER VALUE AND OUTSTANDING SERVICE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOOLS FINANCIAL CREDIT UNION (SCHOOLS FINANCIAL) IS A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE DEDICATED TO SERVING THE FINANCIAL NEEDS OF ITS MEMBERS. ITS PURPOSE IS TO BE THE PRIMARY FINANCIAL INSTITUTION FOR COMMUNITY MEMBERS IN ITS SERVICE AREA. ITS MISSION IS TO PROVIDE MEMBERS WITH BETTER VALUE AND OUTSTANDING SERVICE.SCHOOLS FINANCIAL FOSTERS A CULTURE OF "PEOPLE HELPING PEOPLE" THROUGHOUT THE ORGANIZATION, AND ITS INTERACTION WITH MEMBERS EPITOMIZES THE STANDARDS OF ETHICAL BEHAVIOR. SCHOOLS FINANCIAL TREATS ALL MEMBERS WITH RESPECT AND DIGNITY AND PROVIDES SERVICES TO SAVERS AND BORROWERS IN A DEMOCRATIC FASHION. SCHOOLS FINANCIAL OFFERS ITS MEMBERS AN ECONOMIC ADVANTAGE COMBINED WITH COURTEOUS, COMPETENT, AND TIMELY SERVICE. IT VALUES OPEN, HONEST, TWO-WAY COMMUNICATION WITH ITS MEMBERS. SCHOOLS FINANCIAL SOLICITS INPUT FROM ITS MEMBERS TO FACILITATE COMMUNICATION AND TO MEASURE SERVICE QUALITY. SCHOOLS FINANCIAL IS COMMITTED TO CONSTANTLY IMPROVING ITS OVERALL OPERATIONAL EFFICIENCY, ITS SERVICE DELIVERY CONVENIENCE AND THE LEVEL OF PROFESSIONAL SERVICE IT PROVIDES TO ITS MEMBERS. IT MEETS ITS MEMBERS' EXPECTATIONS FOR PRICE ADVANTAGE, QUALITY SERVICE AND CONVENIENCE BY REMAINING FINANCIALLY STRONG AND VIABLE.SCHOOLS FINANCIAL COMMUNICATES ITS SERVICES IN A MEANINGFUL WAY SO THAT MEMBERS, POTENTIAL MEMBERS, LEGISLATORS, REGULATORS AND THE COMMUNITY-AT-LARGE UNDERSTAND AND APPRECIATE THE UNIQUE ROLE THAT MEMBER-OWNED FINANCIAL COOPERATIVES PLAY IN THEIR LIVES. ITS COMMITMENT TO MEMBERS IS CONSISTENT WITH ITS PRINCIPLES OF "FOR SERVICE, NOT FOR PROFIT, NOT FOR CHARITY AND ITS PHILOSOPHY OF "PEOPLE HELPING PEOPLE". THIS COMMITMENT REPRESENTS THE SOUND BUSINESS PRACTICES THAT ENSURE THE FINANCIAL STRENGTH OF SCHOOLS FINANCIAL FOR ITS MEMBERS.


AS OF DECEMBER 31,2019, SCHOOLS FINANCIAL HAD ELEVEN BRANCHES, 159,881 MEMBERS, TOTAL ASSETS OF $2,150,075,672, TOTAL OUTSTANDING LOANS OF $1,633,906,634, AND TOTAL DEPOSITS OF $1,864,796,531.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Diebold Inc
Atm Servicing
$487,965
Styskal Wiese & Melchione Llp
Attorneys
$300,083
Dfs - Document Fulfillment Services
Statement And Tax Form Printing Services
$268,214
Clear Channel Outdoor
Advertising
$209,689
Absolute Adjustment Service Inc
Collection Services
$179,032
View All Vendors

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$88,033,996
Investment income $8,792,499
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $470,674
Net Gain/Loss on Asset Sales $3,964,656
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $101,261,825

Grants Awarded

Over the last fiscal year, Schools Financial Credit Union has awarded $20,855 in support to 3 organizations.

Grant RecipientAmount

LOS RIOS COLLEGES FOUNDATION

Org PageRecipient Profile

Sacramento, CA

PURPOSE: ARC STEM BUILDING CAPITAL CAMPAIGN

$8,000

SACRAMENTO FOOD BANK AND FAMILY SERVICES

Org PageRecipient Profile

Sacramento, CA

PURPOSE: RUN TO FEED THE HUNGRY

$6,722

RICHARD MYLES JOHNSON FOUNDATION

Org PageRecipient Profile

Ontario, CA

PURPOSE: GENERAL SUPPORT

$6,133
View Grant Profile

Peer Organizations

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