Credit Unions In The State Of California is located in Los Angeles, 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, Credit Unions In The State Of California employed 137 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 $34.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $28.5m during the year ending 12/2019. While expenses have increased by 9.4% 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.
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
THE CREDIT UNION PROVIDED DEPOSIT ACCOUNTS AND LOAN SERVICES TO 38,969 MEMBERS AS OF DECEMBER 31, 2019. IN 2019, 7,781 LOANS WERE MADE TO MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Barry Roach CEO | Officer | 40 | $392,282 |
Mike Tufegdzich COO | Officer | 40 | $292,992 |
Joanna Oliva CFO | Officer | 40 | $280,897 |
Celeste Zibelli VP Of Markerting And Financial Services | Officer | 40 | $220,400 |
Jaime Vasquez VP Of Information Technology | 40 | $165,104 | |
Misak Nalbadian Director Of Lending | 40 | $159,499 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Alkami Cloud Services | 12/30/19 | $514,275 |
Business Data Inc Web,print Mail And Archive Channels | 12/30/19 | $390,947 |
Jack Henry And Associates Inc Financial Services | 12/30/19 | $543,837 |
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 | $27,537,429 |
Investment income | $6,436,761 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $288,823 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $34,475,955 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $10,700 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,013,650 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $7,922,357 |
Pension plan accruals and contributions | $417,265 |
Other employee benefits | $1,028,718 |
Payroll taxes | $697,503 |
Fees for services: Management | $0 |
Fees for services: Legal | $100,321 |
Fees for services: Accounting | $190,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,370,019 |
Advertising and promotion | $759,427 |
Office expenses | $3,896,825 |
Information technology | $540,730 |
Royalties | $0 |
Occupancy | $1,481,033 |
Travel | $418,838 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $3,322,892 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $676,916 |
Insurance | $136,822 |
All other expenses | $0 |
Total functional expenses | $28,508,279 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,305,502 |
Savings and temporary cash investments | $55,966,156 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $5,123,897 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $565,498 |
Net Land, buildings, and equipment | $7,096,586 |
Investments—publicly traded securities | $224,813,058 |
Investments—other securities | $0 |
Investments—program-related | $421,520,634 |
Intangible assets | $0 |
Other assets | $28,657,214 |
Total assets | $747,048,545 |
Accounts payable and accrued expenses | $5,965,057 |
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 | $30,095,956 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $645,073,026 |
Total liabilities | $681,134,039 |
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 | $65,914,506 |
Total liabilities and net assets/fund balances | $747,048,545 |
Organization Name | Assets | Revenue |
---|---|---|
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 |
Provident Credit Union Redwood City, CA | $2,795,784,013 | $118,064,717 |
Technology Credit Union San Jose, CA | $3,045,579,402 | $132,366,057 |
Vantage West Credit Union Tucson, AZ | $2,015,563,365 | $118,310,063 |
Premier America Credit Union Chatsworth, CA | $2,832,715,240 | $116,675,456 |
Credit Unions In The State Of California San Diego, CA | $2,643,805,509 | $118,728,128 |
Oregon Community Credit Union Eugene, OR | $1,889,089,537 | $102,367,460 |
Altura Credit Union Riverside, CA | $1,515,289,444 | $94,951,548 |
Credit Unions In The State Of California Santa Ana, CA | $1,758,822,108 | $81,326,431 |
Credit Unions In The State Of California Rancho Cucamonga, CA | $1,491,798,538 | $87,490,480 |
Schools Financial Credit Union Sacramento, CA | $0 | $101,261,825 |