Credit Unions In The State Of California
- Assets
- $2.6b
- Revenue
- $118.8m
- Investments
- $338.9m
- Employees
- 407
- Location
- Santa Ana, CA
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 95-1797779
Organization Overview
Credit Unions In The State Of California is located in Santa Ana, CA. The organization was established in 0000. 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, Credit Unions In The State Of California employed 407 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 12/2023, Credit Unions In The State Of California generated $118.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $104.4m during the year ending 12/2023. While expenses have increased by 9.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO MAINTAIN FINANCIAL STRENGTH IN ORDER TO PROVIDE CONVENIENT ACCESS, EXCEPTIONAL SERVICE, AND FINANCIAL SOLUTIONS TO MEET THE UNIQUE NEEDS OF OUR DIVERSE MEMBERSHIP AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORANGE COUNTY'S CREDIT UNION OFFERS THE FOLLOWING CONSUMER LOAN PRODUCTS TO OUR MEMBERS: AUTOMOBILE, MORTGAGE, OTHER SECURED, AND UNSECURED. AS OF DECEMBER 31, 2023 OUR LOAN PORTFOLIO HAD 65,240 LOANS OUTSTANDING TOTALING $1.645 BILLION.
ORANGE COUNTY'S CREDIT UNION OFFERS THE FOLLOWING COMMERCIAL LOAN PRODUCTS TO OUR MEMBERS: COMMERCIAL MORTGAGE AND INSTALLMENT. AS OF DECEMBER 31, 2023 OUR LOAN PORTFOLIO HAD 179 LOANS OUTSTANDING TOTALING $257.78 MILLION.
ORANGE COUNTY'S CREDIT UNION OFFERS THE FOLLOWING SHARE ACCOUNTS TO OUR RETAIL AND COMMERCIAL MEMBERSHIP: SAVINGS, CHECKING, MONEY MARKET, IRA, CERTIFICATE OF DEPOSIT, AND INVESTMENT SERVICES. AS OF DECEMBER 31, 2023 WE HAD 287,222 ACCOUNTS TOTALING $2.117 BILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Moran Cio | Officer | 40 | $337,917 |
Jonathan Nebot CFO | Officer | 40 | $382,477 |
Kathy Jumper President/ceo | Officer | 40 | $476,259 |
Amber Cisneros Chief Member Experience Officer | Officer | 40 | $326,138 |
Lucy Ito Former Interim President/ceo | Officer | 40 | $414,710 |
Warren Jeffrey Harper Chief Loan Officer | Officer | 40 | $339,457 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jack Henry & Associates Accounting/banking Software Services | 12/30/23 | $793,644 |
Cu Cooperative Systems Inc Technological Systems | 12/30/23 | $2,821,646 |
Verafin Atm/teller Cash Machine Servicing | 12/30/23 | $271,987 |
Cdw Computer Centers Inc Computer Equipment | 12/30/23 | $250,236 |
Artex Risk Solutions Risk Solutions | 12/30/23 | $216,236 |
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 | $103,172,003 |
| Investment income | $15,378,987 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $280,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,830,990 |
| 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. | $4,530,618 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,700,628 |
| Pension plan accruals and contributions | $1,933,975 |
| Other employee benefits | $5,046,728 |
| Payroll taxes | $2,309,377 |
| Fees for services: Management | $372,432 |
| Fees for services: Legal | $106,457 |
| Fees for services: Accounting | $108,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,765 |
| Fees for services: Other | $826,832 |
| Advertising and promotion | $1,777,333 |
| Office expenses | $2,277,297 |
| Information technology | $5,046,757 |
| Royalties | $0 |
| Occupancy | $3,052,252 |
| Travel | $57,883 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,988 |
| Interest | $8,583,629 |
| Payments to affiliates | $115,618 |
| Depreciation, depletion, and amortization | $1,125,324 |
| Insurance | $207,774 |
| All other expenses | $610,487 |
| Total functional expenses | $104,417,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $216,513,513 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,457,642 |
| Loans from Officers, Directors, or Controlling Persons | $10,275,609 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,876,840,632 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,023,907 |
| Net Land, buildings, and equipment | $18,793,038 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $338,891,071 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $112,457,045 |
| Total assets | $2,582,252,457 |
| Accounts payable and accrued expenses | $38,194,451 |
| Grants payable | $0 |
| Deferred revenue | $721,895 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,302,942 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $239,300,000 |
| Other liabilities | $2,117,387,230 |
| Total liabilities | $2,398,906,518 |
| 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 | $183,345,939 |
| Total liabilities and net assets/fund balances | $2,582,252,457 |