Credit Unions In The State Of California
- Assets
- $521.8m
- Revenue
- $16.1m
- Investments
- $217.2m
- Employees
- 81
- Location
- Sacramento, CA
- Founding
- 09/1961
- Data as of
- 12/2021
- EIN
- 94-1019805
Organization Overview
Credit Unions In The State Of California is located in Sacramento, 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 12/2021, Credit Unions In The State Of California employed 81 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of California 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, Credit Unions In The State Of California generated $16.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $12.2m during the year ending 12/2021. While expenses have increased by 2.8% 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
OUR MISSION IS TO MAKE A DIFFERENCE IN OUR COMMUNITIES WITH FINANCIAL SERVICES THAT HELP OUR MEMBERS ENHANCE THEIR LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR OVER 86 YEARS, FIRST US COMMUNITY CREDIT UNION ("FIRST US") HAS PROVIDED LENDING AND DEPOSIT PRODUCTS AND SERVICES TO ITS MEMBERS. FIRST US SERVES ANYONE WHO LIVES, WORKS, OR WORSHIPS (INCLUDING STATEWIDE CURRENT AND RETIRED FEDERAL EMPLOYEES AND THEIR FAMILIES) IN 12 COUNTIES IN THE GREATER SACRAMENTO, CA REGION. A WIDE RANGE OF LOAN PRODUCTS AND SERVICES ARE OFFERED INCLUDING RESIDENTIAL AND COMMERCIAL REAL ESTATE, COMMERCIAL BUSINESS (I.E., SBA), VEHICLE, AND OTHER CONSUMER LOANS. TOTAL ASSETS AT DECEMBER 2021 WERE APPROXIMATELY $522 MILLION.
IN ADDITION TO LENDING PRODUCTS, FIRST US ALSO OFFERS A WIDE RANGE OF DEPOSIT PRODUCTS AND SERVICES INCLUDING SHARE, CHECKING, CERTIFICATES OF DEPOSIT, AND RETIREMENT ACCOUNTS. FIRST US MEMBERS HAVE ACCOUNT SERVICES ACCESS VIA SEVEN FULL SERVICE RETAIL BRANCHES AS WELL AS NATIONWIDE ACCESS THROUGH SHARED BRANCHING AND VIA >25,000 ATM'S IN THE CO-OP NETWORK. AS OF DECEMBER 2021 THE CREDIT UNION HAD 27,120 MEMBERS WITH APPROXIMATELY $463 MILLION IN DEPOSIT ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Hauck President/ceo | Officer | 40 | $326,469 |
Jance Dalton Svp/cio | Officer | 40 | $167,615 |
Jeffrey Crump Svp/cfo | Officer | 40 | $163,144 |
Julie Ainsworth Svp/operations | Officer | 40 | $154,569 |
Joseph Kleemann VP Re Lending | 1 | $126,004 | |
James Gomes Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advantage Group Staffing It Network Equipment Services | 12/30/21 | $170,351 |
Member Driven Technologies It Services | 12/30/21 | $756,948 |
Consolidated Communications Communication Services | 12/30/21 | $113,480 |
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 | $14,372,610 |
| Investment income | $1,763,950 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,564 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,140,124 |
| 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 | $1,324,163 |
| Compensation of current officers, directors, key employees. | $572,437 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,259,584 |
| Pension plan accruals and contributions | $411,403 |
| Other employee benefits | $459,169 |
| Payroll taxes | $330,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,143 |
| Fees for services: Accounting | $73,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $532,930 |
| Advertising and promotion | $289,236 |
| Office expenses | $1,298,452 |
| Information technology | $991,171 |
| Royalties | $0 |
| Occupancy | $489,121 |
| Travel | $43,311 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $130,945 |
| Insurance | $74,925 |
| All other expenses | $906,053 |
| Total functional expenses | $12,241,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,661,700 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,986,265 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $273,226,911 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,256,487 |
| Net Land, buildings, and equipment | $3,177,611 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $217,163,549 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,338,977 |
| Total assets | $521,811,500 |
| Accounts payable and accrued expenses | $2,992,434 |
| 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 | $463,051,589 |
| Total liabilities | $466,044,023 |
| 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 | $55,767,477 |
| Total liabilities and net assets/fund balances | $521,811,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Francisco Fire Credit Union San Francisco, CA | $1,733,829,261 | $55,402,558 |
Rivermark Community Credit Union Beaverton, OR | $1,282,908,447 | $59,063,025 |
San Mateo Credit Union Redwood City, CA | $1,651,880,221 | $59,342,431 |
Credit Unions In The State Of California Westminster, CA | $1,978,868,694 | $57,183,235 |
Credit Unions In The State Of California Eureka, CA | $2,147,688,324 | $57,226,931 |
Marion And Polk Schools Credit Union Salem, OR | $1,240,763,671 | $55,245,201 |
Credit Unions In The State Of California Yuba City, CA | $1,450,440,549 | $51,784,136 |
Pacific Service Credit Union Concord, CA | $1,408,244,390 | $45,146,351 |
First Community Credit Union Coquille, OR | $1,761,836,849 | $50,673,220 |
Credit Unions In The State Of San Diego, CA | $1,264,438,336 | $40,598,480 |
Credit Unions In State Of Arizona Glendale, AZ | $1,059,321,576 | $47,143,966 |
Credit Unions In The State Of California Stockton, CA | $0 | $14,416,859 |