E-Central Credit Union
- Assets
- $194.0m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 45
- Location
- Pasadena, CA
- Founding
- 06/1961
- Data as of
- 12/2021
- EIN
- 95-1442156
Organization Overview
E-Central Credit Union is located in Pasadena, 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, E-Central Credit Union employed 45 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. E-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, E-Central Credit Union generated $8.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $8.0m during the year ending 12/2021. While expenses have increased by 1.8% 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
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR REAL ESTATE PROGRAM AND MEMBER BUSINESS LENDING (MBL) PROGRAMS CONTINUE TO PROVIDE VALUE TO OUR MEMBERSHIP. WE FOCUS ON PROVIDING PERSONALIZED SERVICES COUPLED WITH COMPETITIVE PRICING. THROUGH OUR TRUSTED BRAND, MEMBERS CAN TAKE SOLACE THAT THEY ARE WORKING WITH A REPUTABLE LENDER.
OFFERING A VAST ARRAY OF DYNAMIC ONLINE SERVICES IS CENTRAL TO E-CENTRAL'S STRATEGIC PLAN TO ALLOW MEMBERS TO ACCESS THEIR ACCOUNT ANYTIME, ANYWHERE. THIS IS AN IMPORTANT INITIATIVE TO REMAIN COMPETITIVE, IMPROVE OPERATIONAL EFFICIENCIES, AND TO RETAIN MEMBERS. OUR SUITE OF FREE E-SERVICES INCLUDES ONLINE BANKING, MOBILE BANKING, BILL PAY, PERSONAL FINANCIAL MANAGEMENT TOOLS, ACCOUNT-TO-ACCOUNT TRANSFERS, REMOTE CHECK DEPOSIT AND A NUMBER OF OTHER SERVICES.
E-CENTRAL OFFERS A SUITE OF AFFORDABLE CHECKING ACCOUNTS THAT INCLUDE A NUMBER OF FREE SERVICES, SUCH AS DEBIT CARDS AND A SUITE OF ONLINE SERVICES. THE CREDIT UNION CONTINUES TO SEE CHECKING ACCOUNT PENETRATION INCREASE, CHECKING OVERALL BALANCES INCREASE AND DEBIT CARD TRANSACTIONS INCREASE EACH YEAR. MEMBERS VALUE OUR LOW-COST SOLUTION AS THEY LOOK TO SAVE MONEY EVERY DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Theodore President/ceo | Officer | 40 | $347,867 |
Loh Jen Sy Svp/cco | Officer | 40 | $159,850 |
Daniel Lentini VP Of It | 40 | $121,665 | |
Susan Brown Exec. Assistant To The CEO | 40 | $119,430 | |
Silvio Jorge Vp/cfo | Officer | 40 | $117,312 |
Evan Hitchcock VP Ops | 40 | $111,735 |
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 | $7,853,549 |
| Investment income | $120,281 |
| 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 | $8,617,902 |
| 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. | $1,140,982 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,626,070 |
| Pension plan accruals and contributions | $239,894 |
| Other employee benefits | $486,712 |
| Payroll taxes | $199,111 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,957 |
| Fees for services: Accounting | $70,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $110,325 |
| Advertising and promotion | $179,637 |
| Office expenses | $993,474 |
| Information technology | $897,822 |
| Royalties | $0 |
| Occupancy | $344,782 |
| Travel | $124,654 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $509,819 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198,091 |
| Insurance | $136,389 |
| All other expenses | $0 |
| Total functional expenses | $7,961,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286,977 |
| Savings and temporary cash investments | $69,806,415 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $1,993,984 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $190,218 |
| Net Land, buildings, and equipment | $4,425,899 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $112,812,723 |
| Intangible assets | $0 |
| Other assets | $4,464,547 |
| Total assets | $193,980,763 |
| Accounts payable and accrued expenses | $1,232,447 |
| 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 | $160,443,829 |
| Total liabilities | $161,676,276 |
| 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 | $32,304,487 |
| Total liabilities and net assets/fund balances | $193,980,763 |
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