Patelco Credit Union
- Assets
- $9.1b
- Revenue
- $314.7m
- Investments
- $162.7m
- Employees
- 836
- Location
- Dublin, CA
- Founding
- 09/1961
- Data as of
- 12/2022
- EIN
- 94-0755684
Organization Overview
Patelco Credit Union is located in Dublin, 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 12/2022, Patelco Credit Union employed 836 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Patelco 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, Patelco Credit Union generated $314.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $243.4m during the year ending 12/2022. While expenses have increased by 6.9% 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.
Since 2019, Patelco Credit Union has awarded 39 individual grants totaling $818,987. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES A BROAD RANGE OF LOAN & DEPOSIT PRODUCTS AND OTHER FINANCIAL SERVICES TO ITS MEMBERS LOCATED IN NORTHERN CALIFORNIA AND ILLINOIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATELCO CREDIT UNION IS A STATE-CHARTERED CREDIT UNION THAT IS COMMITTED TO PROVIDING ITS MEMBERS WITH SUPERIOR FINANCIAL SERVICES. ITS PRIMARY FUNCTION IS TO PROVIDE LOANS TO ITS MEMBERS AS WELL AS ACCEPT DEPOSITS FROM THEM. IN 2022, THE CREDIT UNION PROVIDED MEMBERS WITH 4,534 NEW REAL ESTATE LOANS TOTALING $1,221,992,256, AND 58,148 NEW CONSUMER LOANS TOTALING $1,247,636,364, AND 7 NEW COMMERCIAL LOANS TOTALING $28,856,864. AS OF DECEMBER 31, 2022, THERE WERE 982,797 DEPOSIT ACCOUNTS TOTALING $8,056,625,448.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Cabey Director | Trustee | 5 | $0 |
Debbie Chaw 2nd Vice Chair | OfficerTrustee | 5 | $0 |
Erin Mendez President/ceo/director | OfficerTrustee | 40 | $1,250,282 |
Garick Zillgitt 1st Vice Chair | OfficerTrustee | 5 | $0 |
Jeffrey Parks Director | Trustee | 5 | $0 |
Jesse Rivera Chairman | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mortgage Cadence Llc Mortgage Services | 12/30/22 | $910,237 |
Moss Adams Llp Accounting Services | 12/30/22 | $523,548 |
Charles Pankow Builders Ltd General Contractor | 12/30/22 | $490,562 |
Excel Building Services Llc Janitorial Services | 12/30/22 | $479,880 |
Heartland Valuation Service Llc Appraisal Services | 12/30/22 | $403,395 |
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 | $262,887,836 |
| Investment income | $34,755,776 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,672,276 |
| Net Gain/Loss on Asset Sales | $2,469,617 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $314,717,655 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $374,736 |
| 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. | $4,608,404 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,291,082 |
| Pension plan accruals and contributions | $3,849,275 |
| Other employee benefits | $10,294,793 |
| Payroll taxes | $5,553,800 |
| Fees for services: Management | $2,022,288 |
| Fees for services: Legal | $173,791 |
| Fees for services: Accounting | $853,298 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,693,910 |
| Advertising and promotion | $6,863,243 |
| Office expenses | $5,395,532 |
| Information technology | $12,650,261 |
| Royalties | $0 |
| Occupancy | $20,227,000 |
| Travel | $1,156,434 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $43,555,886 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,771,632 |
| Insurance | $928,371 |
| All other expenses | $10,136,415 |
| Total functional expenses | $243,406,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,301,818 |
| Savings and temporary cash investments | $524,416,436 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,160,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,442,626,461 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,445,769 |
| Net Land, buildings, and equipment | $100,048,831 |
| Investments—publicly traded securities | $1,550,956,678 |
| Investments—other securities | $162,690,074 |
| Investments—program-related | $0 |
| Intangible assets | $24,410,546 |
| Other assets | $207,629,387 |
| Total assets | $9,073,686,000 |
| Accounts payable and accrued expenses | $70,645,551 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $15,374,262 |
| 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 | $8,241,251,187 |
| Total liabilities | $8,327,271,000 |
| 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 | $746,415,000 |
| Total liabilities and net assets/fund balances | $9,073,686,000 |
Grants Awarded
Over the last fiscal year, Patelco Credit Union has awarded $322,781 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
ALAMEDA COUNTY COMMUNITY FOOD BANK PURPOSE: CHARITABLE DONATIONS | $10,000 |
CHILDREN'S MIRACLE NETWORK HOSPITALS PURPOSE: CHARITABLE DONATIONS | $56,750 |
FOOD BANK OF CONTRA COSTA & SOLANO PURPOSE: CHARITABLE DONATIONS | $10,000 |
HABITAT FOR HUMANITY EAST BAY PURPOSE: CHARITABLE DONATIONS | $60,000 |
NATIONAL CU FOUNDATION PURPOSE: CHARITABLE DONATIONS | $33,000 |
REDWOOD EMPIRE FOOD BANK PURPOSE: CHARITABLE DONATIONS | $10,000 |