United Local Credit Union
- Assets
- $123.7m
- Revenue
- $6.4m
- Investments
- $26.6m
- Employees
- 30
- Location
- Fresno, CA
- Founding
- 06/1961
- Data as of
- 12/2023
- EIN
- 94-1518911
Organization Overview
United Local 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 12/2023, United Local Credit Union employed 30 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. United Local 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, United Local Credit Union generated $6.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 1.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CREDIT UNION SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNITED LOCAL CREDIT UNION (THE CREDIT UNION) PROVIDES DEPOSIT SERVICES TO MEMBERS WHICH INCLUDES CHECKING, SAVINGS, CERTIFICATES OF DEPOSITS, IRA ACCOUNTS, COURTESY PAY, AND TRUST ACCOUNTS. THE TOTAL NUMBER OF MEMBERS AT THE CREDIT UNION AS OF 12/31/2023 WAS 8,579, WITH THE TOTAL DOLLAR AMOUNT OF SHARES AT YEAR-END OF $101,525,054.
UNITED LOCAL CREDIT UNION PROVIDES ELECTRONIC BANKING SERVICES TO SUPPORT DEPOSITS AND LOANS WITH AUTOMATED TELLER MACHINES, E-STATEMENTS, BILL PAY, AUDIO RESPONSE, AND TELECONTACT SERVICES AND SUPPLEMENTAL NOTARY, SIGNATURE GAURANTEES, AND WIRES.
UNITED LOCAL CREDIT UNION PROVIDES FULL-SERVICE LENDING INCLUDING AUTO, UNSECURED, CREDIT CARD AND MORTGAGE LOANS. THE TOTAL NUMBR OF BORROWERS AT THE CREDIT UNION AT 12/31/2023 WAS 3,709, WITH TOTAL OUTSTANDING LOANS OF $78,477,735.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angelina Maldonado President/ceo | Officer | 40 | $261,668 |
Sherwood Brown Controller | Officer | 40 | $100,254 |
Andy Anderson Vice Board Chairman | OfficerTrustee | 1 | $0 |
Denise Benelli Secretary | OfficerTrustee | 1 | $0 |
Jim Hazelrigg Board Chairman | OfficerTrustee | 1 | $0 |
Pamela Nielsen Director | Trustee | 1 | $0 |
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 | $5,551,352 |
| Investment income | $871,742 |
| 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 | $6,423,094 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $413,868 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,069,742 |
| Pension plan accruals and contributions | $469,449 |
| Other employee benefits | $54,883 |
| Payroll taxes | $116,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,799 |
| Fees for services: Accounting | $37,859 |
| Fees for services: Lobbying | $983 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $192,140 |
| Office expenses | $1,468,652 |
| Information technology | $117,697 |
| Royalties | $0 |
| Occupancy | $309,106 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,118 |
| Interest | $100,583 |
| Payments to affiliates | $26,994 |
| Depreciation, depletion, and amortization | $44,343 |
| Insurance | $0 |
| All other expenses | $168 |
| Total functional expenses | $5,152,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,712,273 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $960,290 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $78,477,735 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $364,969 |
| Net Land, buildings, and equipment | $496,815 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $26,608,352 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,044,041 |
| Total assets | $123,664,475 |
| Accounts payable and accrued expenses | $450,423 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $40,141 |
| 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 | $101,484,913 |
| Total liabilities | $101,975,477 |
| 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 | $21,688,998 |
| Total liabilities and net assets/fund balances | $123,664,475 |