Credit Unions In The State Of California

Organization Overview

Credit Unions In The State Of California is located in Compton, 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 12/2019, Credit Unions In The State Of California employed 10 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 12/2019, Credit Unions In The State Of California generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.9%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGSA AMONG ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MID CITIES CREDIT UNION PROVIDED LOANS OF 2,074,689 TO ITS MEMBERS IN 2019. MEMBERS USED APPROXIMATELY $16,493,339 IN GROSS AMOUNTS OF THE CREDIT UNIONS SAVINGS PROGRAMS IN 2019 AS WELL. IN ADDITON, OUR MEMBERS USED OUR CASH OPERATIONS TO CASH CHECKS AND OTHER INSTRUMENTS TO OBTAIN CASH FOR THEIR INDIVIDUAL NEEDS.


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Board, Officers & Key Employees

Name (title)Compensation
Silvio Jorge
Chief Executive Officer
$108,875
Floyd Knox
Chairman
$0
Charles Moore
Treasurer
$0
Fred Easter
Secretary
$0
Van Brown
Vice President
$0
Barbara Banks
Director
$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$1,030,797
Investment income $222,690
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 $1,253,487

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