Credit Unions In The State Of California
- Assets
- $0.0
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 389
- Location
- Santa Maria, CA
- Founding
- 09/1961
- Data as of
- 01/2024
- EIN
- 95-2015359
Organization Overview
Credit Unions In The State Of California is located in Santa Maria, CA. The organization was established in 1961. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Credit Unions In The State Of California employed 389 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 01/2024, Credit Unions In The State Of California generated $4.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (22.7%) each year. All expenses for the organization totaled $5.0m during the year ending 01/2024. As we would expect to see with falling revenues, expenses have declined by (20.4%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Credit Unions In The State Of California has awarded 63 individual grants totaling $787,214. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MAKING A POSITIVE DIFFERENCE IN OUR NEIGHBORS' LIVES BY SERVING MEMBERS WITH FINANCIAL PRODUCTS AND SUPERIOR CUSTOMER SERVICE TO HELP THEM ACHIEVE THEIR FINANCIAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1958, COASTHILLS CREDIT UNION HAS BEEN IMPROVING THE FINANCIAL WELL BEING OF CENTRAL COAST FAMILIES WITH LOAN AND DEPOSIT PRODUCTS WITH LOWER FEES AND BETTER RATES THAN MOST BANKS. THE CREDIT UNION SERVES OVER 75,000 MEMBERS IN VENTURA, SANTA BARBARA, SAN LUIS OBISPO, MONTEREY, AND SANTA CRUZ COUNTIES.
SINCE 1958, COASTHILLS CREDIT UNION HAS BEEN IMPROVING THE FINANCIAL WELL BEING OF CENTRAL COAST FAMILIES WITH LOAN AND DEPOSIT PRODUCTS WITH LOWER FEES AND BETTER RATES THAN MOST BANKS. THE CREDIT UNION SERVES OVER 76,000 MEMBERS IN VENTURA, SANTA BARBARA, SAN LUIS OBISPO, MONTEREY, AND SANTA CRUZ COUNTIES.AS OF JANUARY 19, 2024, COASTHILLS CREDIT UNION TRANSITIONED TO A FEDERAL CREDIT UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul C Cook Ceo/president | Officer | 40 | $568,717 |
Bruce A Altheide Chief Wealth Officer | Officer | 40 | $498,177 |
David L Salm Thru 71923 Chief Administrative Officer | Officer | 40 | $517,508 |
Pamela Rasmussen Evp, Chief Operating Officer | Officer | 40 | $418,897 |
James Ledford Chief Experience Officer | Officer | 40 | $348,587 |
Catherine Amundson SVP Operations And Compliance | 40 | $321,649 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rk Builders Inc Remodeling Services | 12/30/23 | $3,370,537 |
Ncr Voyix Corporation Maintenance Of Atm And Itms | 12/30/23 | $2,207,849 |
Digital West Network Service Provider | 12/30/23 | $1,204,605 |
Jack Henry & Associates Core Processing Software & Maintenance | 12/30/23 | $800,475 |
Spectre Security Inc Security Services | 12/30/23 | $412,902 |
Digital West Network Service Provider | 1/18/24 | $110,846 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,911,839 |
| 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 | $2,911,839 |
| Total Program Service Revenue | $4,452,216 |
| Investment income | $483,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$42,169 |
| Net Gain/Loss on Asset Sales | -$71,652 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,821,474 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $48,750 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,164,799 |
| Compensation of current officers, directors, key employees. | $95,524 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,023,633 |
| Pension plan accruals and contributions | $63,160 |
| Other employee benefits | $348,826 |
| Payroll taxes | $109,195 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,460 |
| Fees for services: Accounting | $23,212 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $130,886 |
| Advertising and promotion | $6,906 |
| Office expenses | $144,422 |
| Information technology | $143,915 |
| Royalties | $0 |
| Occupancy | $146,779 |
| Travel | $29,217 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,501 |
| Interest | $419,994 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,801 |
| Insurance | $24,877 |
| All other expenses | $54,298 |
| Total functional expenses | $5,045,642 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Credit Unions In The State Of California has awarded $294,982 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
ALLAN HANCOCK COLLEGE FOUNDATION PURPOSE: GENERAL SUPPORT | $52,000 |
BOYS AND GIRLS CLUB OF CENTRAL COAST PURPOSE: GENERAL SUPPORT | $24,500 |
CHILDREN'S MIRACLE NETWORK PURPOSE: GENERAL SUPPORT | $15,000 |
GOOD SAMARITAN SHELTER PURPOSE: GENERAL SUPPORT | $15,000 |
NORTHERN SANTA BARBARA COUNTY UNITED WAY PURPOSE: GENERAL SUPPORT | $15,000 |
LOMPOC UNIFIED SCHOOL DISTRICT PURPOSE: GENERAL SUPPORT | $13,025 |