Credit Unions In The State Of California
- Assets
- $10.8b
- Revenue
- $255.1m
- Investments
- $0.0
- Employees
- 285
- Location
- Sunnyvale, CA
- Founding
- 09/1961
- Data as of
- 12/2022
- EIN
- 94-6069237
Organization Overview
Credit Unions In The State Of California is located in Sunnyvale, 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, Credit Unions In The State Of California employed 285 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 12/2022, Credit Unions In The State Of California generated $255.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $213.4m during the year ending 12/2022. While expenses have increased by 7.9% 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, Credit Unions In The State Of California has awarded 226 individual grants totaling $3,203,500. 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
STAR ONE CREDIT UNION PROVIDED SERVICES TO 121,849 MEMBERS WITH SAVINGS AND LOAN ACCOUNTS.
STAR ONE OFFERED SOLAR LOANS.
STAR ONE CREDIT UNION PROVIDED 10,385 LOANS TOTALLING $1,719,163,205 IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Henck Chair | Trustee | 1 | $3,289 |
David Daggett 1st Vice Chair | Trustee | 1 | $0 |
Richard Aochi 2nd Vice Chair | Trustee | 1 | $1,148 |
Jeff Gaut Treasurer | Trustee | 1 | $0 |
Triny Lee Secretary | Trustee | 1 | $1,444 |
Martin Eng Director | Trustee | 1 | $3,429 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tyfone Inc Online/mobile Banking | 12/30/22 | $2,149,762 |
Visa Usa Inc Visa/atm Processing | 12/30/22 | $1,603,148 |
Fiserv Inc Xp Software Maintenance | 12/30/22 | $831,602 |
Clickappraiser R/e Appraisal Services | 12/30/22 | $762,740 |
Business Data Inc Statement Printing | 12/30/22 | $697,204 |
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 | $172,150,569 |
| Investment income | $78,791,951 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$31 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $255,066,926 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $928,429 |
| Grants and other assistance to domestic individuals. | $50,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,288,871 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,968,971 |
| Pension plan accruals and contributions | $32,193,247 |
| Other employee benefits | $8,155,357 |
| Payroll taxes | $2,073,289 |
| Fees for services: Management | $0 |
| Fees for services: Legal | -$253,665 |
| Fees for services: Accounting | $526,541 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $69,418 |
| Fees for services: Other | $4,657,967 |
| Advertising and promotion | $3,599,887 |
| Office expenses | $6,407,164 |
| Information technology | $822,127 |
| Royalties | $0 |
| Occupancy | $2,573,347 |
| Travel | $585,892 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $91,476,653 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,231,478 |
| Insurance | $823,522 |
| All other expenses | $0 |
| Total functional expenses | $213,389,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,560,154 |
| Savings and temporary cash investments | $417,854,322 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $6,805,051 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,258,113 |
| Net Land, buildings, and equipment | $13,820,035 |
| Investments—publicly traded securities | $4,639,132,377 |
| Investments—other securities | $0 |
| Investments—program-related | $5,385,235,865 |
| Intangible assets | $0 |
| Other assets | $282,795,241 |
| Total assets | $10,762,461,158 |
| Accounts payable and accrued expenses | $76,989,603 |
| 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 | $9,791,607,603 |
| Total liabilities | $9,868,597,206 |
| 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 | $893,863,952 |
| Total liabilities and net assets/fund balances | $10,762,461,158 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of California has awarded $814,000 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
SECOND HARVEST FOOD BANK PURPOSE: NON-PROFIT ORGANIZATION THAT IS DEDICATED TO ENDING LOCAL HUNGER BY PROVIDING FOOD TO NEARLY A QUARTER OF A MILLION PEOPLE EACH MONTH, PROMOTING FEDERAL NUTRITION PROGRAMS AND EDUCATING FAMILIES ON HOW TO MAKE HEALTHIER FOOD CHOICES. | $100,000 |
SUNNYVALE COMMUNITY SERVICES PURPOSE: NON-PROFIT ORGANIZATION DEDICATED TO PREVENTING HOMELESSNESS AND HUNGER FOR LOW-INCOME FAMILIES AND SENIORS FACING TEMPORARY CRISES BY PROVIDING FINANCIAL AID, FOOD AND OTHER SUPPORT THAT PREVENTS LARGER PROBLEMS WITH MORE EXPENSIVE SOLUTIONS. | $25,000 |
THE ALZHEIMER'S ASSOCIATION PURPOSE: NON-PROFIT ORGANIZATION THAT RAISES AWARENESS AND FUNDS FOR ALZHEIMER'S CARE, SUPPORT AND RESEARCH. | $25,000 |
CANINE COMPANIONS FOR INDEPENDENCE INC PURPOSE: NON-PROFIT ORGANIZATION THAT ENHANCES THE LIVES OF PEOPLE WITH DISABILITIES BY PROVIDING HIGHLY TRAINED ASSISTANCE DOGS AND ONGOING SUPPORT TO ENSURE QUALITY PARTNERSHIPS. | $25,000 |
CANCER CAREPOINT INC PURPOSE: NON-PROFIT ORGANIZATION DEDICATED TO TRANSFORMING SUPPORT FOR CANCER PATIENTS, FAMILIES, & CAREGIVERS IN SILICON VALLEY THROUGH PERSONALIZED ONE-ON-ONE COUNSELING, ASSISTANCE, RESOURCES AND EDUCATION. | $25,000 |
MORGAN AUTISM CENTER PURPOSE: NON-PROFIT ORGANIZATION THAT HELPS CHILDREN AND ADULTS WITH AUTISM OR OTHER DEVELOPMENTAL DISABILITIES MAXIMIZE THEIR POTENTIAL IN A DIGNIFIED, POSITIVE AND LOVING ENVIRONMENT. | $10,000 |