Nikkei Credit Union

Organization Overview

Nikkei Credit Union is located in Gardena, 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 12/2023, Nikkei Credit Union employed 17 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Nikkei 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 12/2023, Nikkei Credit Union generated $3.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $3.0m during the year ending 12/2023. While expenses have increased by 8.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

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

PROVIDED DEPOSIT AND LOAN ACCOUNTS TO 4,426 MEMBERS. PROVIDED LOW COST SOURCE OF CREDIT AND LOW COST FINANCIAL SERVICES TO OUR MEMBERS. PROVIDED SOURCE FOR MEMBER SAVINGS AND CHECKING ACCOUNT NEEDS.


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Board, Officers & Key Employees

Name (title)Compensation
Jon Hernandez
CEO
$169,128
Jay Lee
Vice President
$149,485
Gary Nakata
Board Chair
$0
Alyssa Tanaka Phom
Board Vice Chai
$0
Ryan Suzuki
Board Secretary
$0
Glenn Matsushima
Board Treasurer
$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$2,801,056
Investment income $608,851
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 $3,654,164

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