Credit Unions In The State Of California
- Assets
- $184.3m
- Revenue
- $11.4m
- Investments
- $0.0
- Employees
- 65
- Location
- Santa Cruz, CA
- Founding
- 09/1961
- Data as of
- 12/2021
- EIN
- 94-2407726
Organization Overview
Credit Unions In The State Of California is located in Santa Cruz, 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 65 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 $11.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $8.7m during the year ending 12/2021. While expenses have increased by 5.5% 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.
Since 2018, Credit Unions In The State Of California has awarded 18 individual grants totaling $189,525. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A COMMUNITY DEVELOPMENT AND LOW INCOME CERTIFIED FINANCIAL COOPERATIVE ORGANIZED TO SERVE UNDERSERVED AND PROMOTE ECONOMIC EQUITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES CONSUMER LENDING PRODUCTS AND SERVICES, INCLUDING REAL ESTATE, VEHICLE, CREDIT CARDS, CREDIT BUILDING AND SHARE-SECURED LOANS, FIRST TIME BORROWER AND CREDIT-CHALLENGED BORROWER LOANS TO COMMUNITY MEMBERS IN ITS UNDERSERVED AND UNBANKED COMMUNITY.
THE CREDIT UNION PROVIDES BUSINESS LENDING AND COMMERCIAL LENDING PRODUCTS INCLUDING REAL ESTATE, VEHICLE, CREDIT CARDS, COMMUNITY DEVELOPMENT, GOVERNMENT GUARANTEED LOANS SUCH AS SBA LOANS, SMALL BUSINESS AND MICRO LOANS AND OTHER BUSINESS LOANS IN A COMMUNITY OF ENTREPRENEURIAL BUSINESSES THAT HAVE FEW OPTIONS AVAILABLE FROM LOCAL AND NATIONAL BANKS.
THE CREDIT UNION PROVIDES CONSUMER AND BUSINESS FINANCIAL PRODUCTS AND SERVICES INCLUDING FIXED-INCOME SAVINGS INSTRUMENTS, SHARE-DRAFT AND IRA ACCOUNTS, MATRICULA CONSULAR ACCOUNTS, SECOND CHANCE SAVINGS, AND SHARE DRAFT ACCOUNTS DESIGNED TO SERVE BOTH MODERATE AND LOW-INCOME COMMUNITY MEMBERS AND ITS IMMIGRANT COMMUNITY MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Carr CEO | Officer | 40 | $272,288 |
Annie Song CFO | Officer | 40 | $173,521 |
Richard Cooper Former Evp | 40 | $173,293 | |
Edward Cross Jr Cio | Officer | 40 | $161,221 |
Katie Fairbairn Evp | 40 | $141,050 | |
Brian Ogle Dir. Commercial & Re Lending | 40 | $130,422 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cook Security Group Inc Security Services | 12/30/19 | $143,293 |
Slatter Construction Inc Construction | 12/30/19 | $322,814 |
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 | $9,411,712 |
| Investment income | $192,721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,003,092 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,384,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $112,993 |
| Grants and other assistance to domestic individuals. | $1,200 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,154,126 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,281,268 |
| Pension plan accruals and contributions | $75,850 |
| Other employee benefits | $714,524 |
| Payroll taxes | $271,510 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $86,199 |
| Fees for services: Accounting | $96,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $263,661 |
| Advertising and promotion | $258,827 |
| Office expenses | $1,745,593 |
| Information technology | $60,121 |
| Royalties | $0 |
| Occupancy | $460,450 |
| Travel | $6,486 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $226,713 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $293,867 |
| Insurance | $68,456 |
| All other expenses | $0 |
| Total functional expenses | $8,661,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,666,252 |
| Savings and temporary cash investments | $25,515,770 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $418,632 |
| Net Land, buildings, and equipment | $1,035,820 |
| Investments—publicly traded securities | $8,617,992 |
| Investments—other securities | $0 |
| Investments—program-related | $143,069,760 |
| Intangible assets | $0 |
| Other assets | $3,956,412 |
| Total assets | $184,280,638 |
| Accounts payable and accrued expenses | $4,747,849 |
| 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 | $164,689,427 |
| Total liabilities | $169,437,276 |
| 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 | $14,843,362 |
| Total liabilities and net assets/fund balances | $184,280,638 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of California has awarded $89,093 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Santa Cruz, CA PURPOSE: TO PROVIDE TRANSITIONAL EMPLOYMENT/TRAINING OF PEOPLE EXPERIENCING HOMELESSNESS. | $30,860 |
Watsonville, CA PURPOSE: TO ASSIST PEOPLE IN THE PAJARO VALLEY WITH NUTRITIOUS FOOD, EDUCATION, AND REFERRALS IN COOPERATION WITH OTHER AGENCIES. | $14,723 |
Aptos, CA PURPOSE: VITA DONATIONS | $10,000 |
Santa Cruz, CA PURPOSE: PRIMARY PURPOSE IS TO DELIVER A WEEKLY BAG OF HEALTHY GROCERIES TO SANTA CRUZ RESIDENTS,50 YEARS OF AGE AND OLDER, THROUGH ITS HEALTHY FOOD FOR SENIORS PROGRAM | $7,643 |
Santa Cruz, CA PURPOSE: TO ENHANCE THE LIVES AND PROMOTE FAIRNESS FOR THE LESBIAN, GAY, BISEXUAL AND TRANSGENDER COMMUNITY OF SANTA CRUZ COUNTY, CALIFORNIA | $7,077 |
Santa Cruz, CA PURPOSE: TO SUPPORT COMMUNITY EVENTS | $6,720 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions In The State Of California San Jose, CA | $681,759,070 | $22,054,983 |
Credit Unions In The State Of California Glendora, CA | $610,952,696 | $24,733,288 |
Sacramento Credit Union Sacramento, CA | $686,832,962 | $22,206,265 |
Safeamerica Credit Union Pleasanton, CA | $545,562,610 | $20,698,342 |
Wheelhouse Credit Union San Diego, CA | $389,094,591 | $17,122,868 |
1st Northern California Credit Union Martinez, CA | $878,372,297 | $16,635,726 |
Premierone Credit Union San Jose, CA | $564,442,079 | $17,632,094 |
Eagle Community Credit Union Lake Forest, CA | $329,547,938 | $17,550,263 |
Boulder Dam Credit Union Boulder City, NV | $864,129,621 | $17,427,262 |
Credit Unions In The State Of California Sacramento, CA | $267,106,457 | $14,853,588 |
Credit Unions In The State Of California Sacramento, CA | $521,811,500 | $16,140,124 |
Deer Valley Credit Union Phoenix, AZ | $248,381,939 | $11,691,961 |