Credit Unions In The State Of California
- Assets
- $41.1m
- Revenue
- $1.2m
- Investments
- $19.8m
- Employees
- 8
- Location
- Pasadena, CA
- Founding
- 09/1961
- Data as of
- 12/2019
- EIN
- 95-1847819
Organization Overview
Credit Unions In The State Of California is located in Pasadena, 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 8 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 $1.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $1.1m during the year ending 12/2019. 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
TO PROMOTE THRIFT, HONESTY, INTEGRITY, BUSINESS METHODS, AND THE SPIRIT OF SERVICE AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RECEIVE FROM MEMBERS MONEY FOR THE PURCHASE OF REGULAR SHARES AND SHARE DRAFTS AND TO RETURN THE HIGHEST DIVIDEND RATE POSSIBLE. THE TOTAL NUMBER OF MEMBERS/ACCOUNTS AT YEAR END 4,028 WITH SHARES, SHARE DRAFTS, AND IRA DEPOSITS TOTALING $33,475,025.
TO MAKE LOANS TO ITS MEMBERS FOR PROVIDENT PURPOSES AT REASONABLE RATES OF INTEREST. TO FINANCE THE PURCHASE OF PROPERTY BY ITS MEMBERS. IN 2018 THE CREDIT UNION MADE 1,801 LOANS TOTALING $7,618,558.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Annette Santos Operations Manager | Officer | 38 | $74,159 |
Nubia Arauz Loan Officer Manager | Officer | 38 | $52,394 |
Richard Reed President | OfficerTrustee | 1 | $0 |
Marc Greenfield Treasurer/ceo | OfficerTrustee | 5 | $0 |
Robert Corona Vice President | OfficerTrustee | 1 | $0 |
Ladislao Ortiz Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $585,170 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,256 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,160,713 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $215,207 |
| Compensation of current officers, directors, key employees. | $168,124 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,529 |
| Pension plan accruals and contributions | $12,373 |
| Other employee benefits | $33,674 |
| Payroll taxes | $18,299 |
| Fees for services: Management | $26,577 |
| Fees for services: Legal | $10,989 |
| Fees for services: Accounting | $70,457 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,598 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,714 |
| Office expenses | $92,557 |
| Information technology | $56,476 |
| Royalties | $0 |
| Occupancy | $85,975 |
| Travel | $5,111 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,833 |
| Insurance | $26,815 |
| All other expenses | $0 |
| Total functional expenses | $1,102,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,285,733 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136,848 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,549,075 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,181 |
| Investments—publicly traded securities | $8,919,317 |
| Investments—other securities | $19,826,682 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $316,061 |
| Total assets | $41,137,293 |
| Accounts payable and accrued expenses | $86,743 |
| 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 | $31,697,043 |
| Total liabilities | $31,783,786 |
| 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 | $9,353,507 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions In The State Of California San Jose, CA | $681,759,070 | $22,054,983 |
Credit Unions In The State Of California Glendora, CA | $610,952,696 | $24,733,288 |
Sacramento Credit Union Sacramento, CA | $686,832,962 | $22,206,265 |
Safeamerica Credit Union Pleasanton, CA | $545,562,610 | $20,698,342 |
Wheelhouse Credit Union San Diego, CA | $389,094,591 | $17,122,868 |
1st Northern California Credit Union Martinez, CA | $878,372,297 | $16,635,726 |
Premierone Credit Union San Jose, CA | $564,442,079 | $17,632,094 |
Eagle Community Credit Union Lake Forest, CA | $329,547,938 | $17,550,263 |
Boulder Dam Credit Union Boulder City, NV | $864,129,621 | $17,427,262 |
Credit Unions In The State Of California Sacramento, CA | $267,106,457 | $14,853,588 |
Credit Unions In The State Of California Sacramento, CA | $521,811,500 | $16,140,124 |
Deer Valley Credit Union Phoenix, AZ | $248,381,939 | $11,691,961 |