Oregon State Credit Union
- Assets
- $2.2b
- Revenue
- $114.1m
- Investments
- $9.1m
- Employees
- 339
- Location
- Corvallis, OR
- Founding
- 10/1944
- Data as of
- 12/2023
- EIN
- 93-0444581
Organization Overview
Oregon State Credit Union is located in Corvallis, OR. The organization was established in 1944. As of 12/2023, Oregon State Credit Union employed 339 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Oregon State 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 12/2023, Oregon State Credit Union generated $114.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $94.7m during the year ending 12/2023. While expenses have increased by 13.4% per year over the past 9 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, Oregon State Credit Union has awarded 67 individual grants totaling $875,784. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES FINANCIAL SERVICES TO MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. AS OF DECEMBER 31, 2023, THE CREDIT UNION HAD APPROXIMATELY 142,504 MEMBERS, OF WHICH 67,309 MEMBERS HAVE ACTIVE LOANS. THE TOTAL NUMBER OF DEPOSIT AND SHARE ACCOUNTS WAS 293,663 AND THE TOTAL NUMBER OF LOANS OUTSTANDING WAS 87,770.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ana Lucia Fonseca Tapia Director | Trustee | 1 | $15,250 |
Jamie Hughes Director | Trustee | 1 | $10,250 |
Jay Conroy Director | Trustee | 1 | $14,750 |
Jonathan Sassaman Director | Trustee | 1 | $11,500 |
Mary Beth Altmann Hughes Director | Trustee | 1 | $7,750 |
Mike Green Director | Trustee | 1 | $17,309 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pscu Financial Services Dda Transaction Processing | 12/30/23 | $2,692,107 |
Visa Usa Inc Visa Debit And Credit Processing | 12/30/23 | $2,014,395 |
Infoimage Statement Processing | 12/30/23 | $1,373,150 |
Ncr Corporation Online Banking | 12/30/23 | $1,362,687 |
Corelation Inc Core Software Service | 12/30/23 | $691,358 |
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 | $85,719,117 |
| Investment income | $12,162,646 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $114,120,989 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $258,465 |
| Grants and other assistance to domestic individuals. | $25,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,811,371 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,136,946 |
| Pension plan accruals and contributions | $2,365,188 |
| Other employee benefits | $5,515,298 |
| Payroll taxes | $2,067,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65,010 |
| Fees for services: Accounting | $213,803 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $61,711 |
| Fees for services: Other | $6,610,650 |
| Advertising and promotion | $1,302,164 |
| Office expenses | $3,137,926 |
| Information technology | $1,922,467 |
| Royalties | $0 |
| Occupancy | $3,659,518 |
| Travel | $66,003 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $199,160 |
| Interest | $22,113,130 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,887,748 |
| Insurance | $153,939 |
| All other expenses | $0 |
| Total functional expenses | $94,735,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,652,897 |
| Savings and temporary cash investments | $91,025,886 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,914,386 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,420,298,195 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,346,934 |
| Net Land, buildings, and equipment | $39,983,829 |
| Investments—publicly traded securities | $500,277,511 |
| Investments—other securities | $9,149,297 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $80,598,874 |
| Total assets | $2,166,247,809 |
| Accounts payable and accrued expenses | $29,194,944 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,463,579 |
| 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 | $1,935,318,504 |
| Total liabilities | $1,966,977,027 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,166,247,809 |
Grants Awarded
Over the last fiscal year, Oregon State Credit Union has awarded $75,200 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
PEACEHEALTH - CHILDRENS MIRACLE NETWORK PURPOSE: OPERATIONAL SUPPORT | $22,000 |
OREGON HEALTH AND SCIENCE UNIVERSITY FOUNDATION PURPOSE: OPERATIONAL SUPPORT | $22,000 |
OREGON STATE UNIVERSITY FOUNDATION PURPOSE: SCHOLARSHIP SUPPORT | $10,000 |
LINN-BENTON COMMUNITY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP SUPPORT | $7,700 |
WESTERN OREGON UNIVERSITY FOUNDATION PURPOSE: SCHOLARSHIP SUPPORT | $7,500 |
GARTEN SERVICES PURPOSE: OPERATIONAL SUPPORT | $6,000 |