Frontwave Credit Union

Organization Overview

Frontwave Credit Union is located in Oceanside, CA. The organization was established in 1979. 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, Frontwave Credit Union employed 370 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Frontwave 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, Frontwave Credit Union generated $59.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $50.7m during the year ending 12/2021. While expenses have increased by 5.8% 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.

Since 2019, Frontwave Credit Union has awarded 14 individual grants totaling $191,730. 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.

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

FRONTWAVE CREDIT UNION PROVIDES A WIDE RANGE OF MEMBER SERVICES INCLUDING EDUCATING MEMBERS ON AVAILABLE PRODUCTS AND SERVICES, FEES INVOLVED, AND OPENING AND SERVICING DEPOSIT AND LOAN PRODUCTS.


FRONTWAVE CREDIT UNION USES CUTTING-EDGE TECHNOLOGY BY PROVIDING ITS MEMBERS WITH DIGITAL BANKING. THE MEMBERS CAN USE THE ONLINE AND MOBILE BANKING TOOLS TO MANAGE THEIR ACCOUNTS 24/7.


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Board, Officers & Key Employees

Name (title)Compensation
William Birnie
President/ceo
$872,529
Randi Brookeformer
Senior Vp/coo
$453,637
William Wells
Senior Vp/cio
$289,363
Sarai Rodgers
Chief Human Resources Officer
$267,121
Todd Kern
Chief Marketing Officer
$265,595
Carrie Foster Former
Senior Vp/cfo
$262,670

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Jamerson Janitorial Inc
Janitorial Services And Supplies
$134,959
No Limit Commercial Maintenance
Janitorial Services And Supplies
$181,987
View All Vendors

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$52,390,674
Investment income $5,489,868
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$61,682
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $59,046,912

Grants Awarded

Over the last fiscal year, Frontwave Credit Union has awarded $75,070 in support to 7 organizations.

Grant RecipientAmount

ARMED SERVICES YMCA AT CAMP PENDLETON

Org PageRecipient Profile

Camp Pendleton, CA

PURPOSE: CASH SPONSORSHIP FOR VARIOUS EVENTS HOSTED BY THE YMCA

$20,899

OCEANSIDE CHAMBER OF COMMERCE

Org PageRecipient Profile

Oceanside, CA

PURPOSE: GENERAL MEMBERSHIP AND CASH SPONSORSHIP OF COMMUNITY EVENTS

$20,010

MOONLIGHT CULTURAL FOUNDATION

Org PageRecipient Profile

Vista, CA

PURPOSE: CASH SPONSORSHIP TO SUPPORT LOCAL COMMUNITY, ACTIVE DUTY MILITARY AND SUPPORTERS

$10,000

OCEANSIDE MUSEUM OF ART

Org PageRecipient Profile

Oceanside, CA

PURPOSE: GENERAL MEMBERSHIP AND CASH SPONSORSHIP OF COMMUNITY EVENTS

$8,000

MARINE CORPS ASSOCIATION & FOUNDATION

Org PageRecipient Profile

Quantico, VA

PURPOSE: CASH SPONSORSHIP TO SUPPORT LOCAL COMMUNITY, ACTIVE DUTY MILITARY AND SUPPORTERS

$5,770

KINANE EVENTS INC

PURPOSE: TITLE SPONSORSHIP FOR OCEANSIDE TURKEY TROT - DONATED TO VARIOUS RECIPIENTS

$5,391
View Grant Profile

Peer Organizations

Organization NameAssets
California Credit Union
Glendale, CA
$164,391,792
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Sunnyvale, CA
$197,844,755
Educational Employees Credit Union
Fresno, CA
$140,033,802
Oregon Community Credit Union
Eugene, OR
$182,242,816
Provident Credit Union
Redwood City, CA
$114,626,988
Valley Strong Credit Union
Bakersfield, CA
$131,789,936
Technology Credit Union
San Jose, CA
$173,209,130
One Az Credit Union
Phoenix, AZ
$105,409,190
Credit Unions In The State Of California
San Diego, CA
$114,723,458
Premier America Credit Union
Chatsworth, CA
$107,505,968
Vantage West Credit Union
Tucson, AZ
$106,118,675
Altura Credit Union
Riverside, CA
$106,884,732

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