Educational Employees Credit Union
- Assets
- $4.6b
- Revenue
- $167.2m
- Investments
- $0.0
- Employees
- 663
- Location
- Fresno, CA
- Founding
- 06/1961
- Data as of
- 12/2022
- EIN
- 94-1031345
Organization Overview
Educational Employees Credit Union is located in Fresno, 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, Educational Employees Credit Union employed 663 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Educational Employees 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, Educational Employees Credit Union generated $167.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $122.1m during the year ending 12/2022. While expenses have increased by 6.8% 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.
Since 2014, Educational Employees Credit Union has awarded 360 individual grants totaling $4,617,398. 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
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT.
ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT.
ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING A HIGH-YIELD CHECKING ACCOUNT PRODUCT AND A PREMIUM-RATE TIERED SAVINGS PRODUCT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Franzell Chair | Trustee | 4 | $2,889 |
Ali Nekumanesh Vice Chair | Trustee | 4 | $1,607 |
Lisa Cutts Treasurer | Trustee | 2 | $159 |
Cleo Bauer Secretary | Trustee | 2 | $159 |
Rick Browning Board Member | Trustee | 2 | $2,665 |
Derek Scharton Board Member | Trustee | 2 | $1,769 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Corporation Online Banking Services | 12/30/22 | $5,539,674 |
Jeffrey Scott Agency Advertising | 12/30/22 | $1,541,825 |
Diebold Inc Atm Purchasing And Servicing | 12/30/22 | $1,783,795 |
Data Statement Inc Statement Production And Mailing | 12/30/22 | $1,471,690 |
Looking Point Inc It Services And Equipment | 12/30/22 | $1,383,030 |
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 | $124,766,155 |
| Investment income | $42,446,933 |
| 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 | $167,213,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $531,147 |
| Grants and other assistance to domestic individuals. | $112,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,871,883 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,213,626 |
| Pension plan accruals and contributions | $2,457,624 |
| Other employee benefits | $7,627,412 |
| Payroll taxes | $2,611,726 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $236,378 |
| Fees for services: Accounting | $665,879 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,041,706 |
| Advertising and promotion | $5,199,614 |
| Office expenses | $13,152,600 |
| Information technology | $1,321,518 |
| Royalties | $0 |
| Occupancy | $4,108,806 |
| Travel | $408,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,556,278 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,868,261 |
| Insurance | $623,667 |
| All other expenses | $0 |
| Total functional expenses | $122,071,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,408,405 |
| Savings and temporary cash investments | $77,601,066 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $1,037,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,777,302 |
| Net Land, buildings, and equipment | $24,330,083 |
| Investments—publicly traded securities | $2,324,299,091 |
| Investments—other securities | $0 |
| Investments—program-related | $1,950,436,065 |
| Intangible assets | $0 |
| Other assets | $104,395,874 |
| Total assets | $4,593,284,886 |
| Accounts payable and accrued expenses | $46,432,588 |
| 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 | $4,221,423,585 |
| Total liabilities | $4,267,856,173 |
| 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 | $325,428,713 |
| Total liabilities and net assets/fund balances | $4,593,284,886 |
Grants Awarded
Over the last fiscal year, Educational Employees Credit Union has awarded $401,148 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ABC-30 PURPOSE: TO ASSIST IN THEIR "CHILDREN FIRST" CAMPAIGN WHICH FOCUSES ON HELPING YOUTH'S IN CENTRAL CALIFORNIA. | $102,000 |
AMERICAN RED CROSS PURPOSE: TO ASSIST IN PROVIDING RELIEF AND SUPPORT TO THOSE IN CRISIS. | $10,000 |
BIG FRESNO FAIR PURPOSE: TO HELP SHOWCASE AGRICULTURE, PROVIDING A LINK BETWEEN URBAN AND RURAL CALIFORNIA. | $25,000 |
COLLEGE OF THE SEQUOIAS FOUNDATION PURPOSE: TO ASSIST IN PROVIDING STUDENT SCHOLARSHIPS. | $14,500 |
CLOVIS UNIFIED SCHOOL DISTRICT PURPOSE: TO HELP SUPPORT PROGRAMS OF CLOVIS SCHOOLS. | $10,000 |
DINUBA UNIFIED SCHOOL DISTRICT PURPOSE: TO ASSIST IN ENDING GENERATIONAL POVERTY THROUGH EDUCATION. | $6,000 |