Credit Unions In The State Of California
- Assets
- $1.6b
- Revenue
- $68.8m
- Investments
- $220.1m
- Employees
- 360
- Location
- Santa Maria, CA
- Founding
- 09/1961
- Data as of
- 12/2021
- EIN
- 95-2015359
Organization Overview
Credit Unions In The State Of California is located in Santa Maria, CA. The organization was established in 1961. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Credit Unions In The State Of California employed 360 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 12/2021, Credit Unions In The State Of California generated $68.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $59.4m during the year ending 12/2021. While expenses have increased by 6.0% 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.
Since 2015, Credit Unions In The State Of California has awarded 28 individual grants totaling $333,707. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVE MEMBERS WITH FINANCIAL PRODUCTS AND SUPERIOR CUSTOMER SERVICE TO HELP THEM ACHIEVE THEIR FINANCIAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1958, COASTHILLS CREDIT UNION HAS BEEN IMPROVING THE FINANCIAL WELL BEING OF CENTRAL COAST FAMILIES WITH LOAN AND DEPOSIT PRODUCTS WITH LOWER FEES AND BETTER RATES THAN MOST BANKS. THE CREDIT UNION SERVES OVER 75,000 MEMBERS IN VENTURA, SANTA BARBARA, SAN LUIS OBISPO, MONTEREY, AND SANTA CRUZ COUNTIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul C Cook Ceo/president | Officer | 40 | $546,490 |
Bruce A Altheide Chief Wealth Officer | Officer | 40 | $517,747 |
Pamela Rasmussen Chief Risk Officer | Officer | 40 | $380,990 |
David L Salm Chief Administrative Officer | Officer | 40 | $339,306 |
James Ledford Chief Lending Officer | Officer | 40 | $321,829 |
Daniel Walls Chief Credit Officer | Officer | 40 | $307,960 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Corporation Maintenance Of Atm And Itms | 12/30/21 | $1,489,367 |
Jack Henry & Associates Core Processing Software & Maintenance | 12/30/21 | $700,406 |
Digital West Network Service Provider | 12/30/21 | $863,110 |
Rk Builders Inc Construction Labor | 12/30/21 | $480,931 |
Swbc Collection Services | 12/30/21 | $442,505 |
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 | $65,155,021 |
| Investment income | $2,652,606 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$103,503 |
| Net Gain/Loss on Asset Sales | $301,725 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $68,814,131 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $165,495 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,401,999 |
| Compensation of current officers, directors, key employees. | $3,155,177 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,596,871 |
| Pension plan accruals and contributions | $1,053,862 |
| Other employee benefits | $7,109,251 |
| Payroll taxes | $1,659,762 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $218,450 |
| Fees for services: Accounting | $339,513 |
| Fees for services: Lobbying | $7,093 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,950,823 |
| Advertising and promotion | $346,642 |
| Office expenses | $2,890,717 |
| Information technology | $1,509,195 |
| Royalties | $0 |
| Occupancy | $2,558,925 |
| Travel | $185,697 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,352 |
| Interest | $1,361,137 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,389,737 |
| Insurance | $0 |
| All other expenses | $1,799,764 |
| Total functional expenses | $59,373,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,145,074 |
| Savings and temporary cash investments | $169,425,700 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,879,250 |
| Loans from Officers, Directors, or Controlling Persons | $21,963,865 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,035,923,789 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,996,838 |
| Net Land, buildings, and equipment | $41,396,869 |
| Investments—publicly traded securities | $71,679,713 |
| Investments—other securities | $220,104,237 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,961,083 |
| Total assets | $1,604,476,418 |
| Accounts payable and accrued expenses | $8,742,328 |
| 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 | $46,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,422,359,147 |
| Total liabilities | $1,477,601,475 |
| 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 | $126,874,943 |
| Total liabilities and net assets/fund balances | $1,604,476,418 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of California has awarded $130,100 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Lompoc, CA PURPOSE: UNRESTRICTED | $45,000 |
Santa Maria, CA PURPOSE: UNRESTRICTED | $23,000 |
Rch Palos Vrd, CA PURPOSE: UNRESTRICTED | $11,000 |
Lompoc, CA PURPOSE: UNRESTRICTED | $11,000 |
San Luis Obispo, CA PURPOSE: UNRESTRICTED | $10,000 |
Arroyo Grande, CA PURPOSE: UNRESTRICTED | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions In The State Of California Santa Maria, CA | $1,604,476,418 | $68,814,131 |
Helios Education Foundation Phoenix, AZ | $702,121,235 | $21,760,037 |
College Futures Foundation Oakland, CA | $607,414,225 | $89,017,526 |
Beneficial State Foundation Oakland, CA | $119,858,062 | $22,406,818 |
Access To Loans For Learning Student Loan Corporation El Segundo, CA | $475,895,632 | $11,096,332 |
Pacific Pension & Investment Institute San Francisco, CA | $2,414,289 | $2,850,359 |
Fresno Community Development Financial Institution Fresno, CA | $30,883,005 | $9,893,346 |
Hebrew Free Loan Association Of San Francisco San Francisco, CA | $28,447,595 | $4,532,322 |
Nixyaawii Community Financial Services Pendleton, OR | $6,512,348 | $5,830,469 |
Third Party Payment Processors Association Llc Phoenix, AZ | $58,887 | $667,666 |
Nellie Van Schaick 0499039180 Tucson, AZ | $3,154,367 | $194,886 |
Hopi Credit Association Keams Canyon, AZ | $2,594,030 | $382,272 |