California Credit Union
- Assets
- $4.9b
- Revenue
- $204.9m
- Investments
- $0.0
- Employees
- 628
- Location
- Glendale, CA
- Founding
- 09/1961
- Data as of
- 12/2023
- EIN
- 95-0951410
Organization Overview
California Credit Union is located in Glendale, 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, California Credit Union employed 628 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. California 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, California Credit Union generated $204.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $185.0m during the year ending 12/2023. While expenses have increased by 12.8% 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.
Since 2017, California Credit Union has awarded 72 individual grants totaling $1,161,520. 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
2023
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
WE CONCLUDED ANOTHER SUCCESSFUL YEAR SERVING OUR MEMBERS IN 2023.
AT CALIFORNIA CREDIT UNION, WE WERE PROUD TO CONTINUE SUPPORTING OUR MEMBERS AND COMMUNITIES BY HELPING THEM ACHIEVE THEIR FINANCIAL GOALS. ADDING NEW MEMBER VALUE HAS ALWAYS BEEN A KEY PRIORITY AND WE CONTINUED TO DELIVER BY EXPANDING OUR CHARTER ACROSS SOUTHERN CALIFORNIA IN 2023, WELCOMING ANYONE WHO LIVES, WORKS, WORSHIPS, ATTENDS SCHOOL OR HAS BUSINESS IN SAN DIEGO, RIVERSIDE, LOS ANGELES, ORANGE, SAN BERNARDINO AND VENTURA COUNTIES, AS WELL AS SCHOOL EMPLOYEES THROUGHOUT THE STATE. WE WERE ALSO PROUD TO BE CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), A DESIGNATION ONLY GIVEN TO ORGANIZATIONS PROVEN TO PROVIDE FINANCIAL SERVICES IN COMMUNITIES THAT HAVE HISTORICALLY LACKED ACCESS TO TRADITIONAL BANKING SERVICES. IN ADDITION, OUR OPTION CHECKING ACCOUNT WAS BANK ON CERTIFIED BY THE CITIES FOR FINANCIAL EMPOWERMENT FUND, BRINGING SAFE AND AFFORDABLE ACCESS TO BANKING FOR UNBANKED, UNDERBANKED AND UNDERSERVED COMMUNITY MEMBERS IN SOUTHERN CALIFORNIA. IN 2023, OUR FINANCIAL LITERACY PROGRAMS REACHED 31,000 PROVIDING 40 FINANCIAL EDUCATION MODULES TO ALL MEMBERS AND WEBSITE VISITORS FOR FREE AS WELL AS OFFERING FINANCIAL LITERACY PROGRAMS IN PARTNERSHIP WITH GREENPATH FINANCIAL WELLNESS AND A BITE OF REALITY
CALIFORNIA CREDIT UNION REMAINED COMMITTED TO SUPPORTING OUR COMMUNITIES BY INVESTING OVER $720,000 INTO NEW PARTNERSHIPS, EMPLOYEE VOLUNTEERISM, AND INDUSTRY ADVOCACY OPPORTUNITIES. WE ENTERED INTO A NEW PARTNERSHIP WITH THE LOS ANGELES ZOO WHOSE FOCUS ON FAMILIES AND EDUCATION DIRECTLY ALIGNS WITH OUR GOALS AND PURPOSE IN THE LA MARKET. THIS NEW PARTNERSHIP PROVIDES GREAT EXPOSURE TO THE ZOO'S NEARLY 1.8 MILLION ANNUAL VISITORS, AS WELL AS ALLOW FOR ONSITE ACTIVATIONS FOR NEW MEMBERSHIPS, EDUCATIONAL SUPPORT FOR UNDERSERVED SCHOOLS, COMMUNITY GIVING AND VOLUNTEER OPPORTUNITIES. IN 2023, OUR EMPLOYEES SERVED AS VOLUNTEERS ON 19 EDUCATION AND COMMUNITY FOUNDATION BOARDS ACROSS SOUTHERN CALIFORNIA. AND, OUR STAFF CAME TOGETHER TO BUILD HOMES FOR HABITAT FOR HUMANITY, WORK AT THE SAN DIEGO PRIDE FESTIVAL, PARTICIPATE IN THE NAVY'S 36TH BAY BRIDGE RUN, DISTRIBUTE SCHOOL SUPPLIES, AND MUCH MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walton Greene Chairman | Trustee | 1 | $0 |
Pamela Fees Vice Chairperson | Trustee | 1 | $0 |
Rebecca Collier Board Secretary | Trustee | 1 | $0 |
Jeff Stone Board Treasurer | Trustee | 1 | $0 |
James Doyle Board Member | Trustee | 1 | $0 |
Victor Hanson Board Member | Trustee | 1 | $2,420 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Appraisal Solutions And Products Llc Appraisals | 12/30/22 | $402,185 |
Laz Parking California Llc Parking Services | 12/30/22 | $308,626 |
Office Solutions Office Supplies | 12/30/22 | $132,259 |
Toolcase Llc It Services | 12/30/22 | $198,750 |
Lereta Llc Real Estate Tax Services | 12/30/22 | $124,080 |
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 | $140,463,666 |
| Investment income | $47,518,407 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,655 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $204,850,638 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $103,791 |
| Grants and other assistance to domestic individuals. | $20,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,374,709 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,627,111 |
| Pension plan accruals and contributions | $2,683,257 |
| Other employee benefits | $6,471,018 |
| Payroll taxes | $3,393,326 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $518,796 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,925,470 |
| Advertising and promotion | $6,850,987 |
| Office expenses | $15,152,975 |
| Information technology | $9,969,723 |
| Royalties | $0 |
| Occupancy | $10,371,070 |
| Travel | $826,052 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $49,782,578 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,128,564 |
| Insurance | $191,278 |
| All other expenses | $9,028 |
| Total functional expenses | $184,990,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,434,316 |
| Savings and temporary cash investments | $432,905,302 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $15,418,166 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,149,659 |
| Net Land, buildings, and equipment | $118,179,415 |
| Investments—publicly traded securities | $1,182,194,816 |
| Investments—other securities | $0 |
| Investments—program-related | $2,985,258,890 |
| Intangible assets | $23,194,498 |
| Other assets | $69,998,206 |
| Total assets | $4,876,733,268 |
| Accounts payable and accrued expenses | $79,124,331 |
| 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 | $4,500,593,518 |
| Total liabilities | $4,579,717,849 |
| 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 | $297,015,419 |
| Total liabilities and net assets/fund balances | $4,876,733,268 |
Grants Awarded
Over the last fiscal year, California Credit Union has awarded $30,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SAN DIEGO FLEET WEEK FOUNDATION PURPOSE: TO HONOR THE MEN AND WOMEN OF THE MILITARY THROUGH UNIQUE PATRIOTIC EVENTS WHILE INTERACTING WITH MILITARY AND COMMUNITY LEADERS. | $7,500 |
SAN DIEGO AIR & SPACE MUSEUM PURPOSE: TO SUPPORT THE MUSEUM'S YOUTH EDUCATION PROGRAMS. | $7,500 |
USS MIDWAY MUSEUM PURPOSE: IN SUPPORT OF MIDWAY'S STEM FIELD TRIP PROGRAM AND THE NO CHILD LEFT ASHORE SCHOLARSHIP FUND. | $15,000 |