Point West Credit Union
- Assets
- $107.9m
- Revenue
- $6.0m
- Investments
- $690.0k
- Employees
- 25
- Location
- Portland, OR
- Founding
- 10/1944
- Data as of
- 12/2022
- EIN
- 93-0232289
Organization Overview
Point West Credit Union is located in Portland, OR. The organization was established in 1944. 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 12/2022, Point West Credit Union employed 25 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Point West 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 12/2022, Point West Credit Union generated $6.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $4.9m during the year ending 12/2022. While expenses have increased by 1.8% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PERFORM CREDIT UNION ACTIVITIES TO BENEFIT THE MEMBERS OF THE CREDIT UNION AND MAINTAIN THE FINANCIAL INTEGRITY OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORMAL CREDIT UNION OPERATIONS, INCLUDING LENDING, DEPOSIT PRODUCTS AND FEE SERVICES FOR THE CREDIT UNION'S MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Hand Chair, Board Member | OfficerTrustee | 1 | $0 |
Roberto Flores Vice Chair, Board Member | OfficerTrustee | 1 | $0 |
Oscar Porras Secretary, Board Member | OfficerTrustee | 1 | $0 |
Kristy Mayer-Mejia Board Member | Trustee | 1 | $0 |
Cynthia Novelo Board Member | Trustee | 1 | $0 |
Robin Tompkins Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fis Card Payment Services | 12/30/22 | $205,213 |
Cuprodigy Card Payment Services | 12/30/22 | $115,012 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,400,000 |
| 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 | $1,400,000 |
| Total Program Service Revenue | $4,068,567 |
| Investment income | $489,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,399 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,970,956 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $510,168 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,274,132 |
| Pension plan accruals and contributions | $19,741 |
| Other employee benefits | $156,805 |
| Payroll taxes | $139,068 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,168 |
| Fees for services: Accounting | $62,883 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $448,898 |
| Advertising and promotion | $221,010 |
| Office expenses | $190,326 |
| Information technology | $53,722 |
| Royalties | $0 |
| Occupancy | $224,207 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,430 |
| Interest | $256,013 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $95,370 |
| Insurance | $39,736 |
| All other expenses | $54,463 |
| Total functional expenses | $4,941,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,424,525 |
| Savings and temporary cash investments | $17,748,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $679,751 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $78,065,372 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,285,908 |
| Investments—publicly traded securities | $254,085 |
| Investments—other securities | $690,002 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,783,596 |
| Total assets | $107,931,239 |
| Accounts payable and accrued expenses | $752,754 |
| 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 | $2,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $94,050,663 |
| Total liabilities | $97,503,417 |
| 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 | $10,427,822 |
| Total liabilities and net assets/fund balances | $107,931,239 |
Grants Awarded
Over the last fiscal year, Point West Credit Union has awarded $11,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
INNOVATION LAW LAB PURPOSE: TO SUPPORT IMMIGRATION ACTIVISM | $5,000 |
METROPOLITAN FAMILY SERVICES PURPOSE: TO SUPPORT ADVOCACY FOR LOW-INCOME COMMUNITIES | $6,250 |