Altura Credit Union

Organization Overview

Altura Credit Union is located in Riverside, 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, Altura Credit Union employed 435 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Altura 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 12/2019, Altura Credit Union generated $95.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $75.6m during the year ending 12/2019. While expenses have increased by 11.3% 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.

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

ALTURA CREDIT UNION OFFERS TRADITIONAL BANKING SERVICES, INCLUDING CHECKING ACCOUNTS, SAVINGS ACCOUNTS, AND INVESTMENT SERVICES (RETIREMENT ACCOUNTS, STOCKS, BONDS, AND MUTUAL FUNDS) FOR PERSONAL AND BUSINESS PURPOSES. IT ALSO OFFERS MOBILE BANKING THROUGH A PHONE APPLICATION AVAILABLE FOR IPHONE, ANDROID PHONES, AND BLACKBERRY PHONES. MEMBERS CAN HAVE 24/7 ACCOUNT ACCESS, CHECK THEIR ACCOUNT AND LOAN BALANCES, TRANSFER FUNDS WITHIN AN ACCOUNT PAY THEIR CREDIT CARD AND LOAN WITHIN AN ACCOUNT, LOCATE BRANCHES AND ATM MACHINES, AND HAVE ACCESS TO OTHER MEMBER SERVICES.


ALTURA CREDIT UNION OFFERS A WIDE RANGE LINE OF CREDIT PROGRAM TO ITS MEMBERS THAT INCLUDES VEHICLE LOANS, HOME LOANS, PERSONAL LOANS, AND CREDIT CARD FOR VEHICLES. THE ORGANIZATION OFFERS FINANCING OR REFINANCING FOR NEW OR USED AUTOMOBILES WITH TERMS UP TO 84 MONTHS. IT ALSO OFFERS FINANCING FOR RECREATIONAL VEHICLES, BOATS, JET SKIS, AND MOTORCYCLES. THE ORGANIZATION OFFERED TRADITIONAL AND ADJUSTABLE RATE MORTGAGES IN 2018. IN 2018, IT SPECIFICALLY SOUGHT TO ASSIST FIRST-TIME HOMEBUYERS THROUGH A VARIETY OF EFFORTS, INCLUDING FHA HOME LOANS AND A DOWN PAYMENT ASSISTANCE PROGRAM. THE ORGANIZATION OFFERS TWO TYPES OF PERSONAL LOANS: SIGNATURE LOAN AND SECURED LOAN. A SIGNATURE LOAN PROVIDES UP TO $15,000 TO ITS MEMBERS FOR ANY PURPOSE. A SECURED LOAN PROVIDES LOANS TO ITS MEMBERS THAT IS SECURED BY THE FUNDS IN THE MEMBER SAVINGS ACCOUNT OR SHARE CERTIFICATE. A SECURED LOAN HAS TERMS UP TO 10 YEARS OR UP TO THE MATURITY DATE FOR A SHARE CERTIFICATE. THE ORGANIZATION ALSO OFFERS A VARIETY OF CREDIT CARDS INCLUDING MASTERCARD PLATINUM PREFERRED, MASTERCARD PLATINUM, MASTERCARD CLASSIC, AND MASTERCARD REWARDS.


ALTURA CREDIT UNION OFFERED FREE WORKSHOPS IN 2018 TO ITS MEMBERS. THESE WORKSHOPS COVERED THE FOLLOWING TOPICS: SECURING YOUR FINANCIAL FUTURE, SOCIAL SECURITY, AND RETIREMENT PLANNING. IT ALSO OFFERED FREE ONLINE COURSES ON DIFFERENT TOPICS ENABLING ITS MEMBERS TO EXPLORE DIFFERENT ASPECTS OF FINANCIAL EDUCATION AT THEIR OWN PACE. CLASSES INCLUDED: MONEY MANAGEMENT, CHECKING ACCOUNT MANAGEMENT, THE PSYCHOLOGY OF SPENDING, THE ROAD TO HOME OWNERSHIP, FINANCIAL FIRST AID, FINANCES FOR COLLEGE STUDENTS, AND BUYING A VEHICLE.


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Board, Officers & Key Employees

Name (title)Compensation
Jennifer Binkley
CEO
$621,394
Tommie Shryock
Evp/cfo
$325,980
Kevin Sherrell
Evp/ciao
$311,957
Robert Whitton
Svp/coo
$266,095
David Constantino
Svp/clo
$262,784
Chris Andrus
Svp/cco
$262,360

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Integrated Builders Group Inc
Construction Services
$2,168,212
Oltmans Construction Co Inc
Construction Services
$4,383,329
Business Data Inc
Statement Processing
$960,324
Alkami Technology Inc
Mobile Banking Provider
$1,056,896
Ftsi
Security Control Services
$722,629
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $5,158,431
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $367,318
Net Gain/Loss on Asset Sales $73,211
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $94,951,548

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