North Island Financial Credit Union
- Assets
- $1.3b
- Revenue
- $57.7m
- Investments
- $0.0
- Employees
- 314
- Location
- San Diego, CA
- Founding
- Data as of
- 12/2016
- EIN
- 95-1687284
Organization Overview
North Island Financial Credit Union is located in San Diego, CA. As of 12/2016, North Island Financial Credit Union employed 314 individuals. North Island Financial 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 12/2016, North Island Financial Credit Union generated $57.7m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $48.4m during the year ending 12/2016. While expenses have increased by 6.6% per year over the past 2 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
2016
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
2016 WAS A FORMATIVE YEAR FOR NORTH ISLAND CREDIT UNION, AS WE MADE THE DECISION TO FOCUS ON GROWTH BY ENGAGING A MERGER WITH A LIKE SIZE CREDIT UNION WITH SIMILAR CORE VALUES. AFTER CAREFUL STUDY AND REVIEW, THE BOARD OF DIRECTORS FROM BOTH CREDIT UNIONS APPROVED THE MERGER, FOLLOWED BY MANAGEMENT FORMULATING THE INITIAL INTEGRATION EFFORTS PLANNED TO TAKE SHAPE THE COMING YEAR. THIS OPPORTUNITY WILL DOUBLE THE SIZE OF NORTH ISLAND CREDIT UNION IN BOTH INFRASTRUCTURE AND ASSETS AND IS EXPECTED TO BE COMPLETED BY THE END OF YEAR 2017.
IN 2016, WE CONTINUED TO FOCUS ON SERVING OUR MEMBERS BY OFFERING THEM THE RIGHT PRODUCT AND SERVICES TO MEET THEIR NEEDS. WE EXPANDED OUR MOBILE BANKING PLATFORM TO INCLUDE TEXT ALERTS, EASIER TRANSFER CAPABILITIES AND QUICK BALANCE CHECK OPTIONS. WE ALSO REFINED OUR ONLINE ACCOUNT OPENING AND LOAN APPLICATION PROCESS, GIVING OUR MEMBERS MORE WAYS TO ENGAGE WITH OUR CREDIT UNION.
NORTH ISLAND CREDIT UNION TAKES PRIDE IN FUNDING PROGRAMS THAT ENHANCE THE COMMUNITY IN WHICH WE LIVE AND WORK. IN 2016, WE PROUDLY CONTRIBUTED TO HUNDREDS OF NON-PROFIT ORGANIZATIONS INCLUDING BOYS TO MEN MENTORING, CHILDREN'S MIRACLE NETWORK, SCRIPPS HEALTH FOUNDATION, THE FLEET WEEK FOUNDATION, AND MANY ADDITIONAL MILITARY ORGANIZATIONS SUPPORTING OUR LOCAL SAILORS AND MARINES. IN ADDITION TO OUR FINANCIAL CONTRIBUTIONS, OUR EMPLOYEES VOLUNTEERED THEIR TIME THROUGH ORGANIZED PROGRAMS, RECEIVING PAID TIME OFF TO ENCOURAGE SOCIAL RESPONSIBILITY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gene Pellerin Chairperson | Trustee | 3 | $0 |
Kit Gardner Vice Chairperson | Trustee | 3 | $0 |
Jeff Stone Financial Officer | Trustee | 3 | $0 |
Rebecca Collier Secretary | Trustee | 3 | $0 |
Bob Plunkett Board Member | Trustee | 3 | $0 |
Todd Bulich Board Member | Trustee | 3 | $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 | $53,528,007 |
| Investment income | $4,026,064 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $132,113 |
| Net Gain/Loss on Asset Sales | $15,966 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,702,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $184,610 |
| 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. | $2,943,431 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,868,692 |
| Pension plan accruals and contributions | $273,476 |
| Other employee benefits | $1,479,445 |
| Payroll taxes | $1,384,194 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,879,609 |
| Fees for services: Accounting | $126,605 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,304,588 |
| Advertising and promotion | $990,247 |
| Office expenses | $4,538,421 |
| Information technology | $4,376,636 |
| Royalties | $0 |
| Occupancy | $1,569,955 |
| Travel | $362,386 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,281,883 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,529,581 |
| Insurance | $0 |
| All other expenses | $110,000 |
| Total functional expenses | $48,355,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,778,068 |
| Savings and temporary cash investments | $99,988,640 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $684,718 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,231,836 |
| Net Land, buildings, and equipment | $55,004,676 |
| Investments—publicly traded securities | $127,750,882 |
| Investments—other securities | $0 |
| Investments—program-related | $929,285,817 |
| Intangible assets | $155,146 |
| Other assets | $24,969,265 |
| Total assets | $1,258,849,048 |
| Accounts payable and accrued expenses | $24,502,136 |
| 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 | $1,093,832,752 |
| Total liabilities | $1,118,334,888 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $140,514,160 |
Grants Awarded
Over the last fiscal year, North Island Financial Credit Union has awarded $111,610 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
MORALE WELFARE & RECREATION PURPOSE: TO IMPROVE QUALITY OF LIFE FOR MILITARY FAMILIES | $20,000 |
CREDIT UNION'S FOR KIDS CHILDREN'S MIRACLE NETWORK PURPOSE: PROVIDES CRITICAL TREATMENTS, EQUIPMENT AND CHARITABLE CARE FOR KIDS IN THE SAN DIEGO COMMUNITY. | $15,000 |
BOYS TO MEN PURPOSE: MENTOR YOUNG MEN TO IMPROVE ACCESS TO HIGHER EDUCATION | $10,000 |
EMBROIDME PURPOSE: PROVIDE SCHOOL SUPPLIES TO CHILDREN IN FINANCIAL NEED | $11,610 |
SAN DIEGO FLEET WEEK FOUNDATION PURPOSE: HONOR, SUPPORT, THANK THE MEN AND WOMEN OF THE MILITARY | $8,500 |
OLIVECREST PURPOSE: PROVIDE HOMES, COUNSELING, EDUCATION FOR FAMILIES IN CRISIS | $20,000 |