Credit Unions In The State Of California
- Assets
- $1.5b
- Revenue
- $51.8m
- Investments
- $329.9m
- Employees
- 311
- Location
- Yuba City, CA
- Founding
- 06/1961
- Data as of
- 12/2021
- EIN
- 94-1484851
Organization Overview
Credit Unions In The State Of California, operating under the name Sierra Central Credit Union, is located in Yuba City, 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, Sierra Central Credit Union employed 311 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Sierra Central 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 12/2021, Sierra Central Credit Union generated $51.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $41.1m during the year ending 12/2021. While expenses have increased by 5.6% 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
AS YOUR FINANCIAL INSTITUTION: WE PLEDGE TO SERVE YOU AND OUR COMMUNITY FAITHFULLY; WE WILL BE FRIENDLY, HELPFUL AND PROFESSIONAL. WE WILL PROVIDE GREAT PRODUCTS AND COMPETITIVE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIERRA CENTRAL CREDIT UNION (SCCU) PROVIDES FINANCIAL SERVICES, INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRA SAVINGS ACCOUNTS AND REGULAR AND IRA CDS TO MEMBER OWNERS. MEMBERS HAVE ACCESS TO OVER 30,000 ATMS, ONLINE BANKING AND DEBIT CARDS. IN 2021 SCCU PROVIDED FINANCIAL SERVICES, SAVINGS AND LOAN ACCOUNTS TO 73,508 MEMBERS AND FUNDED $344.8M IN LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Sweeney Coo/evp | Officer | 40 | $504,501 |
John Cassidy CEO | Officer | 40 | $502,825 |
Steve Henderson Cio, SVP Isit & Facilities | Officer | 40 | $296,137 |
Stephanie Dickinson CFO | Officer | 40 | $287,637 |
David Kelsay Clo, SVP Lending | Officer | 40 | $286,677 |
Michaek Cartoscelli Cro, SVP Retail Banking | Officer | 40 | $268,946 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Diebold Atm Servicing | 12/30/21 | $1,119,641 |
Fiserv Inc It Services | 12/30/21 | $2,840,214 |
Experian Credit Scoring | 12/30/21 | $391,780 |
Tpx Communications Communication Services | 12/30/21 | $618,774 |
Quest Media It Services | 12/30/21 | $414,775 |
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 | $49,512,915 |
| Investment income | $2,271,221 |
| 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 | $51,784,136 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $20,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,411,403 |
| Compensation of current officers, directors, key employees. | $2,718,952 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,733,153 |
| Pension plan accruals and contributions | $673,283 |
| Other employee benefits | $2,020,191 |
| Payroll taxes | $1,132,194 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $196,398 |
| Fees for services: Accounting | $172,746 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,018 |
| Fees for services: Other | $100,248 |
| Advertising and promotion | $436,122 |
| Office expenses | $4,744,919 |
| Information technology | $1,779,193 |
| Royalties | $0 |
| Occupancy | $2,151,538 |
| Travel | $196,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,795 |
| Interest | $554 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,285,907 |
| Insurance | $252,119 |
| All other expenses | $1,260,880 |
| Total functional expenses | $41,088,217 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,903,856 |
| Savings and temporary cash investments | $218,962,835 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $12,951,322 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $813,874,412 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,293,131 |
| Net Land, buildings, and equipment | $41,033,646 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $329,923,535 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,497,812 |
| Total assets | $1,450,440,549 |
| Accounts payable and accrued expenses | $10,548,114 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,239,322 |
| 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 | $1,293,198,449 |
| Total liabilities | $1,304,985,885 |
| 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 | $145,454,664 |
| Total liabilities and net assets/fund balances | $1,450,440,549 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Credit Unions In The State Of California has recieved totaling $24,275.
| Awarding Organization | Amount |
|---|---|
Keypoint Credit Union San Jose, CA PURPOSE: SCCU/TLK CAMP FIRE RELIEF FUND | $14,275 |
Credit Union Of Southern California Anaheim, CA PURPOSE: SIERRA CENTRAL CREDIT UNION'S COMMITMENT IS TO CONTINUE BEING THE "BEST OF BANKING WHERE YOU LIVE AND WORK!" | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Credit Union Glendale, CA | $4,290,889,688 | $164,391,792 |
Credit Unions In The State Of California Sunnyvale, CA | $11,067,829,708 | $197,844,755 |
Educational Employees Credit Union Fresno, CA | $4,681,848,243 | $140,033,802 |
Oregon Community Credit Union Eugene, OR | $2,826,121,126 | $182,242,816 |
Provident Credit Union Redwood City, CA | $3,536,838,918 | $114,626,988 |
Valley Strong Credit Union Bakersfield, CA | $3,451,789,893 | $131,789,936 |
Technology Credit Union San Jose, CA | $4,123,158,923 | $173,209,130 |
One Az Credit Union Phoenix, AZ | $3,043,080,305 | $105,409,190 |
Credit Unions In The State Of California San Diego, CA | $3,476,522,108 | $114,723,458 |
Premier America Credit Union Chatsworth, CA | $3,406,612,540 | $107,505,968 |
Vantage West Credit Union Tucson, AZ | $2,536,511,128 | $106,118,675 |
Altura Credit Union Riverside, CA | $2,322,631,067 | $106,884,732 |