Credit Unions In The State Of California
- Assets
- $2.1b
- Revenue
- $57.2m
- Investments
- $735.4m
- Employees
- 320
- Location
- Eureka, CA
- Founding
- 09/1961
- Data as of
- 12/2021
- EIN
- 94-1287157
Organization Overview
Credit Unions In The State Of California is located in Eureka, 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 12/2021, Credit Unions In The State Of California employed 320 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of California 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 12/2021, Credit Unions In The State Of California generated $57.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $44.0m during the year ending 12/2021. While expenses have increased by 6.0% per year over the past 7 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 2014, Credit Unions In The State Of California has awarded 87 individual grants totaling $913,410. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING FINANCIAL SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COAST CENTRAL PROVIDES A RANGE OF DEPOSIT SERVICES TO ITS APPROXIMATELY 75,000 MEMBERS. THESE INCLUDE SAVINGS, CHECKING, MONEY MARKET, AND SAVINGS CERTIFICATE ACCOUNTS. SERVICES CAN BE ACCESSED THROUGH OUR 11 MEMBER SERVICES BRANCHES, ONLINE, BY PHONE, OR THROUGH A LARGE NETWORK OF ATMS.
WE OFFER MANY DIFFERENT LOAN PRODUCTS. THESE INCLUDE CREDIT CARDS, CONSUMER PERSONAL, AUTO, AND RV LOANS; REAL ESTATE PURCHASE, REFINANCE, AND HOME EQUITY LINES-OF-CREDIT; AND, MEMBER BUSINESS LOANS. LOAN DECISIONS ARE MADE LOCALLY, WITH KNOWLEDGE OF LOCAL CONDITIONS AND THE CREDIT UNION MEMBERS THEMSELVES.
COAST CENTRAL IS ACTIVE IN SUPPORTING MANY LOCAL EVENTS AND CHARITIES. OVER $250,000 IS DONATED TO LOCAL CHARITABLE ORGANIZATIONS, COLLEGE SCHOLARSHIPS TO LOCAL HIGH SCHOOL GRADUATES, AND COMMUNITY PROJECTS, EACH YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Sessa President/ceo | Officer | 40 | $957,172 |
Fred Moore Vp/cfo | Officer | 40 | $319,837 |
Robert Moore Vp/chief Credit Officer | 40 | $310,432 | |
Ed Christians Vp/information Systems (end 12/31/21) | 40 | $295,110 | |
Ann Jadro-Bettiga Vp/human Resources | 40 | $239,392 | |
Kristin Blair Vp/member Services | 40 | $234,875 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cubus Member Statement Provider | 12/30/21 | $632,010 |
Q2 Software Inc On Line Service Provider | 12/30/21 | $581,072 |
Corelation Inc Software Provider | 12/30/21 | $499,007 |
Cox Rasmussen & Company Advertising/media | 12/30/21 | $488,081 |
Computer Services Inc Data Security Provider | 12/30/21 | $338,309 |
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 | $45,585,474 |
| Investment income | $11,591,536 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $62,644 |
| Net Gain/Loss on Asset Sales | -$12,723 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,226,931 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $225,640 |
| Grants and other assistance to domestic individuals. | $57,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $8,217,425 |
| Compensation of current officers, directors, key employees. | $1,404,181 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,826,809 |
| Pension plan accruals and contributions | $1,768,869 |
| Other employee benefits | $1,909,473 |
| Payroll taxes | $973,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,929 |
| Fees for services: Accounting | $200,392 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,385,193 |
| Advertising and promotion | $949,656 |
| Office expenses | $2,358,434 |
| Information technology | $764,745 |
| Royalties | $0 |
| Occupancy | $1,215,884 |
| Travel | $37,315 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $161,825 |
| Interest | $1,957,727 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,918,846 |
| Insurance | $126,373 |
| All other expenses | $90,637 |
| Total functional expenses | $43,960,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $514,357,218 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,055,205 |
| Loans from Officers, Directors, or Controlling Persons | $6,489,700 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $786,842,854 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $606,958 |
| Net Land, buildings, and equipment | $19,925,453 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $735,445,246 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $59,965,690 |
| Total assets | $2,147,688,324 |
| Accounts payable and accrued expenses | $7,237,207 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,740,645 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $74,534,736 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,860,847,209 |
| Total liabilities | $1,944,359,797 |
| 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 | $203,328,527 |
| Total liabilities and net assets/fund balances | $2,147,688,324 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of California has awarded $196,423 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
Crescent City, CA PURPOSE: COMMUNITY FOOD TRUCK PROJECT | $25,000 |
Eureka, CA PURPOSE: MOBILE VET UNIT | $24,600 |
Eureka, CA PURPOSE: UPDATING HOLD KENNELS | $20,633 |
DEL NORTE COUNTY SHERIFF PURPOSE: K9 PROGRAM | $20,000 |
Crescent City, CA PURPOSE: NICKEL AVENUE BUILDING PROJECT | $16,650 |
Willow Creek, CA PURPOSE: KITCHEN EQUIPMENT-REMODEL | $14,170 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Credit Union Glendale, CA | $4,290,889,688 | $164,391,792 |
Credit Unions In The State Of California Sunnyvale, CA | $11,067,829,708 | $197,844,755 |
Educational Employees Credit Union Fresno, CA | $4,681,848,243 | $140,033,802 |
Oregon Community Credit Union Eugene, OR | $2,826,121,126 | $182,242,816 |
Provident Credit Union Redwood City, CA | $3,536,838,918 | $114,626,988 |
Valley Strong Credit Union Bakersfield, CA | $3,451,789,893 | $131,789,936 |
Technology Credit Union San Jose, CA | $4,123,158,923 | $173,209,130 |
One Az Credit Union Phoenix, AZ | $3,043,080,305 | $105,409,190 |
Credit Unions In The State Of California San Diego, CA | $3,476,522,108 | $114,723,458 |
Premier America Credit Union Chatsworth, CA | $3,406,612,540 | $107,505,968 |
Vantage West Credit Union Tucson, AZ | $2,536,511,128 | $106,118,675 |
Altura Credit Union Riverside, CA | $2,322,631,067 | $106,884,732 |