Credit Unions In The State Of California
- Assets
- $9.1b
- Revenue
- $257.1m
- Investments
- $0.0
- Employees
- 243
- Location
- Sunnyvale, CA
- Founding
- 09/1961
- Data as of
- 12/2019
- EIN
- 94-6069237
Organization Overview
Credit Unions In The State Of California is located in Sunnyvale, 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 12/2018, Credit Unions In The State Of California employed 243 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 12/2019, Credit Unions In The State Of California generated $257.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $211.9m during the year ending 12/2019. While expenses have increased by 12.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
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
STAR ONE CREDIT UNION PROVIDED SERVICES TO 106,054 MEMBERS WITH SAVINGS AND LOAN ACCOUNTS.
STAR ONE OFFERS STUDENT LOANS TO GRADUATE AND UNDERGRADUATE STUDENTS.
STAR ONE CREDIT UNION PROVIDED 8,593 LOANS TOTALLING $968,135,917 IN 2018.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Rodrigues President | Officer | 40 | $945,434 |
Rick Heldebrant CEO | Officer | 40 | $558,762 |
B Ross Executive VP - Finance & Administration | Officer | 40 | $493,036 |
M Mucker Executive VP - Ops | Officer | 40 | $457,599 |
K Collins Senior VP - Lending | Officer | 40 | $355,372 |
R Mcalpine VP - Information Systems | 40 | $339,637 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tyfone Inc Online/mobile Banking | 12/30/18 | $1,671,811 |
Visa Usa Inc Visa/atm Processing | 12/30/18 | $705,421 |
Business Data Inc Statement Printing | 12/30/18 | $787,603 |
Fiserv Inc Xp Software Maint | 12/30/18 | $751,905 |
Insight Computer Equip/maint | 12/30/18 | $760,975 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $90,863,528 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $296,913 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $257,132,367 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $50,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,190,102 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,696,533 |
| Pension plan accruals and contributions | $8,295,826 |
| Other employee benefits | $6,081,680 |
| Payroll taxes | $1,541,165 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $191,752 |
| Fees for services: Accounting | $260,268 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $97,031 |
| Fees for services: Other | $3,713,610 |
| Advertising and promotion | $2,434,582 |
| Office expenses | $5,847,826 |
| Information technology | $769,525 |
| Royalties | $0 |
| Occupancy | $2,438,897 |
| Travel | $679,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $143,080,673 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,691,512 |
| Insurance | $109,343 |
| All other expenses | $0 |
| Total functional expenses | $211,902,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,848,649 |
| Savings and temporary cash investments | $295,984,074 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $4,868,731 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,304,389 |
| Investments—publicly traded securities | $4,183,324,285 |
| Investments—other securities | $0 |
| Investments—program-related | $4,422,355,099 |
| Intangible assets | $0 |
| Other assets | $144,578,050 |
| Total assets | $9,073,674,668 |
| Accounts payable and accrued expenses | $62,455,857 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $7,906,058,067 |
| Total liabilities | $7,968,513,924 |
| 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 |
| Total liabilities and net assets/fund balances | $1,105,160,744 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of California has awarded $371,500 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
San Jose, CA PURPOSE: PROVIDES FOOD FOR THE HUNGRY AND PROMOTES NUTRITION PROGRAMS. | $64,500 |
San Jose, CA PURPOSE: PROVIDES HELP TO CHILDREN AND ADULTS WITH AUTISM OR OTHER DEVELOPMENTAL DISABILITIES. | $20,000 |
Santa Rosa, CA PURPOSE: PROVIDES HIGHLY TRAINED ASSISTANCE DOGS TO PEOPLE WITH DISABILITIES TO ENSURE QUALITY PARTNERSHIPS | $20,000 |
Atlanta, GA PURPOSE: PROVIDES SUPPORT TO ELIMINATE CANCER AS A HEALTH PROBLEM. | $15,000 |
San Jose, CA PURPOSE: SUPPORTS COMMUNITY WELL-BEING, IMPROVE QUALITY OF CARE AND PROMOTE ACCESS TO MEDICAL TREATMENT FOR ALL RESIDENTS OF SANTA CLARA COUNTY. | $15,000 |
Sunnyvale, CA PURPOSE: PROVIDES FINANCIAL AID, FOOD AND OTHER SUPPORT TO PREVENT HOMELESSNESS AND HUNGER FOR LOW-INCOME FAMILIES. | $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 |