Credit Unions In The State Of California is located in Ventura, 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, Credit Unions In The State Of California employed 260 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 12/2021, Credit Unions In The State Of California generated $41.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $34.7m during the year ending 12/2021. While expenses have increased by 0.3% 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.
Since 2014, Credit Unions In The State Of California has awarded 55 individual grants totaling $448,961. 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
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
FOR THE TWELFTH YEAR IN A ROW, VENTURA COUNTY CREDIT UNION WAS AWARDED THE BEST FINANCIAL INSTITUTION IN VENTURA COUNTY BY THE VC REPORTER BEST OF READERS' POLL. THE CREDIT UNION RECEIVED THE 2021 BEST OF THE BEST AWARD FOR MEMBERS SHOPPERS EXPERIENCE IN RECOGNITION OF THE EXCEPTIONAL SERVICE PROVIDED TO VCCU MEMBERS.
THE CREDIT UNION WAS PRIZED WITH THE TOP BUSINESS LEGACY AWARD BY THE VENTURA COUNTY AREA AGENCY FOR VCCU'S CONTINUOUS CONTRIBUTIONS TO THE VENTURA COMMUNITY.
DURING 2021, VENTURA COUNTY CREDIT UNION'S CEO LINDA ROSSI WAS HONORED WITH THE WOMAN OF THE YEAR AWARD BY THE GREATER CONEJO VALLEY CHAMBER OF COMMERCE. LINDA WAS ALSO NAMED IN THE TOP 50 WOMAN IN BUSINESS BY THE PACIFIC COAST BUSINESS TIMES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Linda Rossi President/ceo | Officer | 40 | $560,396 |
Linda Sim CFO | Officer | 40 | $339,345 |
Gavin Bradley COO | Officer | 40 | $330,072 |
David Kanongataa Financial Advisor | 40 | $315,808 | |
Chad Ritchie Cio | Officer | 40 | $311,598 |
Sean Mcculloch Avp Commercial Lending | 40 | $277,878 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Business Data Inc Accounting | 12/30/21 | $544,709 |
Alogent Holdings Inc Technology Solutions | 12/30/21 | $522,774 |
Co-op Credit Cards Mgmt And Processing | 12/30/21 | $1,927,300 |
Dovenmuehle Mortgage Inc Financial Services | 12/30/21 | $466,977 |
Jack Henry & Associates Inc Financial Services | 12/30/21 | $356,555 |
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 | $37,652,588 |
Investment income | $3,248,270 |
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 | $41,276,672 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $184,298 |
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. | $3,932,775 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,698,817 |
Pension plan accruals and contributions | $706,343 |
Other employee benefits | $1,592,491 |
Payroll taxes | $1,015,351 |
Fees for services: Management | $0 |
Fees for services: Legal | $58,990 |
Fees for services: Accounting | $274,550 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $608,687 |
Advertising and promotion | $1,089,200 |
Office expenses | $4,661,932 |
Information technology | $2,214,969 |
Royalties | $0 |
Occupancy | $1,856,958 |
Travel | $109,275 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $1,670,277 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,254,301 |
Insurance | $283,793 |
All other expenses | $0 |
Total functional expenses | $34,663,413 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $9,907,497 |
Savings and temporary cash investments | $71,024,539 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $8,293,867 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $1,246,303 |
Net Land, buildings, and equipment | $28,347,728 |
Investments—publicly traded securities | $323,188,129 |
Investments—other securities | $0 |
Investments—program-related | $807,386,783 |
Intangible assets | $0 |
Other assets | $26,739,731 |
Total assets | $1,276,134,577 |
Accounts payable and accrued expenses | $15,384,587 |
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 | $1,161,460,898 |
Total liabilities | $1,176,845,485 |
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 | $99,289,092 |
Total liabilities and net assets/fund balances | $1,276,134,577 |
Over the last fiscal year, Credit Unions In The State Of California has awarded $86,985 in support to 5 organizations.
Grant Recipient | Amount |
---|---|
Ventura, CA PURPOSE: PROVIDING FINANCIAL ASSISTANCE AND EDUCATION TO LOCAL PARTNERS. | $49,885 |
Madison, WI PURPOSE: SUPPORT CREDIT UNION SYSTEMS & MEMBERS IN DEVELOPMENT ACTIVITIES. | $12,500 |
Santa Barbara, CA PURPOSE: TO HELP BUILD HEALTHY, CONFIDENT, CONNECTED, AND SECURE CHILDREN, ADULTS, FAMILIES, AND COMMUNITIES. | $10,500 |
Oxnard, CA PURPOSE: TO HELP THE FIGHT AGAINST HUNGER IN VENTURA COUNTY. | $7,500 |
Salt Lake City, UT PURPOSE: TO HELP SAVE THE LIVES OF CHILDREN BY RAISING FUNDS AND AWARENESS FOR LOCAL CHILDREN'S HOSPITALS. | $6,600 |
Organization Name | Assets | Revenue |
---|---|---|
California Credit Union Glendale, CA | $4,290,889,688 | $164,391,792 |
Credit Unions In The State Of California Sunnyvale, CA | $11,067,829,708 | $197,844,755 |
Educational Employees Credit Union Fresno, CA | $4,681,848,243 | $140,033,802 |
Oregon Community Credit Union Eugene, OR | $2,826,121,126 | $182,242,816 |
Provident Credit Union Redwood City, CA | $3,536,838,918 | $114,626,988 |
Valley Strong Credit Union Bakersfield, CA | $3,451,789,893 | $131,789,936 |
Technology Credit Union San Jose, CA | $4,123,158,923 | $173,209,130 |
One Az Credit Union Phoenix, AZ | $3,043,080,305 | $105,409,190 |
Credit Unions In The State Of California San Diego, CA | $3,476,522,108 | $114,723,458 |
Premier America Credit Union Chatsworth, CA | $3,406,612,540 | $107,505,968 |
Vantage West Credit Union Tucson, AZ | $2,536,511,128 | $106,118,675 |
Altura Credit Union Riverside, CA | $2,322,631,067 | $106,884,732 |