Premierone Credit Union

Organization Overview

Premierone Credit Union is located in San Jose, 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, Premierone Credit Union employed 98 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Premierone 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 12/2021, Premierone Credit Union generated $17.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $15.6m during the year ending 12/2021. While expenses have increased by 5.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT.


ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT.


ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING A HIGH-YIELD CHECKING ACCOUNT PRODUCT AND A PREMIUM-RATE MONEY MARKET SAVINGS PRODUCT.


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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$16,223,400
Investment income $1,415,612
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$16,313
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $17,632,094

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