Keypoint Credit Union

Organization Overview

Keypoint 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, Keypoint Credit Union employed 222 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Keypoint 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, Keypoint Credit Union generated $79.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $51.4m during the year ending 12/2021. While expenses have increased by 5.4% 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

ACCOMPLISHMENT OF EXCELLENT LOAN SERVICES TO MEMBERS AND LOAN PORTFOLIO GROWTH THROUGH THE ORIGINATION OF CONSUMER AND MORTGAGE LOANS.


ACCOMPLISHMENT OF TARGET GOALS IN MEMBER GROWTH (ACQUISITION OF NEW MEMBERS).


MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND MONEY MARKET ACCOUNTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fiserv Inc
Core System Servicing
$1,249,517
Shi International Corp
Core System Servicing
$794,073
Visa Dps
Debit And Credit Card Network Servicing
$541,075
Robert Half International Inc
Hr-temp Help
$518,103
Cu Cooperative Systems Inc
Debit And Credit Card Network Servicing
$399,776
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$48,898,489
Investment income $4,278,856
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $131,055
Net Gain/Loss on Asset Sales $25,868,760
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $79,301,836

Grants Awarded

Over the last fiscal year, Keypoint Credit Union has awarded $36,275 in support to 3 organizations.

Grant RecipientAmount

SANTA CLARA CITY LIBRARY FOUNDATIONS

Org PageRecipient Profile

Santa Clara, CA

PURPOSE: SATAN CLARA CITY LIBRARY FOUNDATIONS

$15,000

CREDIT UNIONS IN THE STATE OF CALIFORNIA

Org PageRecipient Profile

Yuba City, CA

PURPOSE: SCCU/TLK CAMP FIRE RELIEF FUND

$14,275

SUNDAY FRIENDS FOUNDATION

Org PageRecipient Profile

San Jose, CA

PURPOSE: SUNDAY FRIENDS FOUNDATION

$7,000
View Grant Profile

Peer Organizations

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Glendale, CA
$164,391,792
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$140,033,802
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$182,242,816
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$114,626,988
Valley Strong Credit Union
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$131,789,936
Technology Credit Union
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$173,209,130
One Az Credit Union
Phoenix, AZ
$105,409,190
Credit Unions In The State Of California
San Diego, CA
$114,723,458
Premier America Credit Union
Chatsworth, CA
$107,505,968
Vantage West Credit Union
Tucson, AZ
$106,118,675
Altura Credit Union
Riverside, CA
$106,884,732

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