Clark County Credit Union
- Assets
- $1.1b
- Revenue
- $46.8m
- Investments
- $0.0
- Employees
- 249
- Location
- Las Vegas, NV
- Founding
- 10/1980
- Data as of
- 12/2021
- EIN
- 88-0065951
Organization Overview
Clark County Credit Union is located in Las Vegas, NV. The organization was established in 1980. 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 12/2021, Clark County Credit Union employed 249 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Clark County 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 12/2021, Clark County Credit Union generated $46.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $33.1m during the year ending 12/2021. While expenses have increased by 7.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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
DURING 2021, CLARK COUNTY CREDIT UNION GREW 13% IN TOTAL ASSETS WHILE MAINTAINING A NETWORTH RATIO OF 10.93%. USING A MULTI-MEDIA MARKETING APPROACH COMBINED WITH PERSONAL CUSTOMER SERVICE AND CUSTOMIZED LENDING OPTIONS, CCCU IS LIVING UP TO ITS MISSION OF HELPING MEMBERS REALIZE THEIR FINANCIAL GOALS AND DREAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Kershaw Chief Executive Officer | Officer | 40 | $408,978 |
Dave Upham Chief Operating Officer | Officer | 40 | $237,056 |
Octavio Lopez Mortgage Loan Officer | 40 | $223,961 | |
Patricia Ochal Chief Financial Officer | Officer | 40 | $221,663 |
Fred Howard End 115 Chief Technology Officer | Officer | 40 | $205,246 |
Joshua Haldeman Chief Lending Officer | Officer | 40 | $202,249 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Inc Core System | 12/30/21 | $1,098,190 |
American Share Insurance Deposit Insurance | 12/30/21 | $2,283,762 |
Peter J Stoddard Advertising | 12/30/21 | $896,347 |
Q2 Software Inc Online Banking | 12/30/21 | $844,241 |
Econocheck Corporation Member Benefits | 12/30/21 | $550,971 |
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 | $39,900,310 |
| Investment income | $4,419,906 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,493,602 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,813,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,277 |
| 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. | $1,472,376 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,270,301 |
| Pension plan accruals and contributions | $705,400 |
| Other employee benefits | $506,395 |
| Payroll taxes | $1,044,933 |
| Fees for services: Management | $415,716 |
| Fees for services: Legal | $178,535 |
| Fees for services: Accounting | $241,170 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,580,451 |
| Advertising and promotion | $1,265,064 |
| Office expenses | $4,602,516 |
| Information technology | $498,326 |
| Royalties | $0 |
| Occupancy | $1,177,051 |
| Travel | $42,943 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,284,654 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $728,856 |
| Insurance | $355,737 |
| All other expenses | $3,116 |
| Total functional expenses | $33,127,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,635,304 |
| Savings and temporary cash investments | $270,185,531 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $1,749,430 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,392,024 |
| Net Land, buildings, and equipment | $14,340,192 |
| Investments—publicly traded securities | $197,395,099 |
| Investments—other securities | $0 |
| Investments—program-related | $636,870,242 |
| Intangible assets | $0 |
| Other assets | $13,992,470 |
| Total assets | $1,146,560,292 |
| Accounts payable and accrued expenses | $10,406,970 |
| 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 | $1,006,641,868 |
| Total liabilities | $1,017,048,838 |
| 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 | $129,511,454 |
| Total liabilities and net assets/fund balances | $1,146,560,292 |
Grants Awarded
Over the last fiscal year, Clark County Credit Union has awarded $35,600 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Ontario, CA PURPOSE: Sponsorship for Purpose of Grant or Assistance | $10,000 |
CLEAN THE WORLD FOUNDATION PURPOSE: Sponsorship for Purpose of Grant or Assistance | $7,500 |
Henderson, NV PURPOSE: Educational Assistance for Purpose of Grant or Assistance | $6,600 |
Reno, NV PURPOSE: Sponsorship for Purpose of Grant or Assistance | $6,000 |
Las Vegas, NV PURPOSE: Sponsorship for Purpose of Grant or Assistance | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Credit Union Glendale, CA | $4,290,889,688 | $164,391,792 |
Credit Unions In The State Of California Sunnyvale, CA | $11,067,829,708 | $197,844,755 |
Educational Employees Credit Union Fresno, CA | $4,681,848,243 | $140,033,802 |
Oregon Community Credit Union Eugene, OR | $2,826,121,126 | $182,242,816 |
Provident Credit Union Redwood City, CA | $3,536,838,918 | $114,626,988 |
Valley Strong Credit Union Bakersfield, CA | $3,451,789,893 | $131,789,936 |
Technology Credit Union San Jose, CA | $4,123,158,923 | $173,209,130 |
One Az Credit Union Phoenix, AZ | $3,043,080,305 | $105,409,190 |
Credit Unions In The State Of California San Diego, CA | $3,476,522,108 | $114,723,458 |
Premier America Credit Union Chatsworth, CA | $3,406,612,540 | $107,505,968 |
Vantage West Credit Union Tucson, AZ | $2,536,511,128 | $106,118,675 |
Altura Credit Union Riverside, CA | $2,322,631,067 | $106,884,732 |