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← CREDIT UNIONS IN THE STATE OF

Form 990 for tax year 2025

Filed by CREDIT UNIONS IN THE STATE OF.

Totals

Total revenue
$52,021,404
Total expenses
$49,658,795
Contributions and grants received
$0
Grants paid
$60,000
Program service revenue
$41,267,326
Investment income
$9,826,855
Other revenue
$927,223
Total assets, end of year
$1,133,257,600
Total liabilities, end of year
$1,046,811,167
Net assets or fund balances, end of year
$86,446,433
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $36,055,791 · related or exempt $36,055,791

  • 2b · Program service revenue: SERVICE CHARGES AND FEE INCOME

    total $3,144,403 · related or exempt $3,115,917 · unrelated business $28,486

  • 2c · Program service revenue: INTERCHANGE INCOME

    total $2,067,132 · related or exempt $2,067,132

  • 3 · Investment income

    total $9,746,698 · excluded $9,746,698

  • 6a · Gross rents

    real property $2,291,589

  • 6b · Less rental expenses

    real property $1,364,366

  • 6c · Rental income or loss

    real property $927,223

  • 6d · Net rental income or loss

    total $927,223 · excluded $927,223

  • 7a · Gross sales of assets other than inventory

    other assets $7,444,040

  • 7b · Less cost or other basis and sales expenses

    other assets $7,363,883

  • 7c · Gain or loss

    other assets $80,157

  • 7d · Net gain or loss

    total $80,157 · excluded $80,157

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $60,000

  • 5 · Compensation of officers, directors and key employees

    total $2,290,850

  • 7 · Other salaries and wages

    total $10,049,758

  • 8 · Pension plan contributions

    total $471,760

  • 9 · Other employee benefits

    total $1,408,741

  • 10 · Payroll taxes

    total $961,730

  • 11b · Fees: legal

    total $1,016,109

  • 11c · Fees: accounting

    total $267,300

  • 11g · Fees: other

    total $2,232,081

  • 12 · Advertising and promotion

    total $1,118,340

  • 13 · Office expenses

    total $1,606,377

  • 14 · Information technology

    total $4,277,595

  • 16 · Occupancy

    total $1,936,111

  • 17 · Travel

    total $132,416

  • 19 · Conferences, conventions and meetings

    total $164,698

  • 20 · Interest

    total $11

  • 22 · Depreciation, depletion and amortization

    total $2,471,421

  • 23 · Insurance

    total $174,078

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBE

    total $13,173,943

  • 24b · Other expenses: ATM EXPENSES

    total $2,300,423

  • 24c · Other expenses: LOAN PROGRAM/SERVICING

    total $1,981,345

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $122,628

  • 24e · All other expenses

    total $1,441,080

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $129,083,750 · end of year $90,322,659

  • 5 · Loans and receivables from officers and key people

    beginning of year $6,169,047 · end of year $6,317,104

  • 7 · Other notes and loans receivable

    beginning of year $813,624,157 · end of year $739,994,224

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,931,924 · end of year $2,215,735

  • 10a · Land, buildings and equipment: cost or other basis

    $49,025,977

  • 10b · Land, buildings and equipment: accumulated depreciation

    $23,862,088

  • 10c · Land, buildings and equipment, net

    beginning of year $27,976,391 · end of year $25,163,889

  • 12 · Investments: other securities

    beginning of year $151,782,633 · end of year $180,914,980

  • 15 · Other assets

    beginning of year $75,587,600 · end of year $88,329,009

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,499,746 · end of year $2,836,132

  • 21 · Escrow or custodial account liability

    beginning of year $1,244,863 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,127,011,690 · end of year $1,043,975,035

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $76,399,203 · end of year $86,446,433

Mission and programs · 2025

Mission

WE ARE A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE; WE EXIST TO SERVE - TO ENRICH LIVES AND BUILD BETTER FUTURES.

Activities or mission (Part I)

BLUPEAK CREDIT UNION IS A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE; WE EXIST TO SERVE - TO ENRICH LIVES AND BUILD BETTER FUTURES.

  • MEMBERSHIP IN BLUPEAK CREDIT UNION ("BLUPEAK") PROVIDES ACCESS TO A ROBUST ARRAY OF QUALITY FINANCIAL SERVICES AND PRODUCTS INCLUDING CHECKING AND SAVINGS ACCOUNTS. UNLIKE BANKS, WHICH RETURN THEIR PROFITS TO SHAREHOLDERS, BLUPEAK CREDIT UNION RETURNS ITS PROFITS TO MEMBERS IN THE FORM OF HIGHER RATES ON DEPOSITS AND A HOST OF FREE AND LOW-COST SERVICES. AS OF DECEMBER 31, 2025, MEMBERS HELD 65,754 DEPOSIT ACCOUNTS TOTALING OVER $1,038 MILLION. THESE ACCOUNTS INCLUDED FREE CHECKING, LOW-BALANCE SAVINGS, IRA'S, HIGH-YIELD SAVINGS, MONEY MARKET AND TERM INVESTMENT ACCOUNTS.

  • AS A MEMBER-OWNED, NOT-FOR-PROFIT COOPERATIVE, BLUPEAK CREDIT UNION ("BLUPEAK") IS DEDICATED TO PROVIDING THE FINANCIAL PRODUCTS AND SERVICES MEMBERS NEED AT EVERY STAGE OF LIFE. WHETHER IT'S BUYING A FIRST CAR, FINANCING A NEW HOME, OR SEEKING A HIGHER EDUCATION, BLUPEAK OFFERS MEMBERS LOW-COST HOME, VEHICLE, AND PERSONAL LOANS, AS WELL AS FREE FINANCIAL SEMINARS TO ASSIST THEM IN MAKING SOUND FINANCIAL CHOICES. AS OF DECEMBER 31, 2025, BLUPEAK MEMBERS HELD 15,111 MORTGAGE, HOME EQUITY, VEHICLE, AND VARIOUS OTHER PERSONAL LOANS TOTALING OVER $745 MILLION.

  • SINCE 1936, BLUPEAK CREDIT UNION ("BLUPEAK") HAS BEEN HELPING PEOPLE ACHIEVE THEIR MOST IMPORTANT FINANCIAL GOALS. AS ONE OF CALIFORNIA'S LARGEST CREDIT UNIONS, BLUPEAK OFFERS FULL-SERVICE BANKING INCLUDING FREE AND LOW-COST E-SERVICES. MEMBERS CAN MANAGE THEIR PERSONAL FINANCES ANYTIME, ANYWHERE WITH TELEPHONE, ONLINE AND WIRELESS INTERNET BANKING. AS AN ADDITIONAL CONVENIENCE, BLUPEAK OFFERS BILLPAY SERVICES TO MEMBERS WITH QUALIFYING CHECKING ACCOUNTS AT NO COST. EACH MONTH, APPROXIMATELY 30,000 MEMBERS UTILIZE THE E-SERVICES AVAILABLE 24 HOURS PER DAY. IN ADDITION, BLUPEAK HAS PARTNERED WITH OTHER CREDIT UNIONS TO FORM THE CO-OP ATM NETWORK. THIS NETWORK PROVIDES MEMBERS ACCESS TO APPROXIMATELY 30,000 NO-FEE ATM'S THROUGHOUT THE UNITED STATES, INCLUDING LOCATIONS AT POPULAR RETAILERS.

  • ADDITIONAL BLUPEAK CREDIT UNION MEMBERSHIP BENEFITS INCLUDE: 1) PROFESSIONAL BROKERAGE AND INVESTMENT SERVICES, 2) MONEY-SAVING AUTO, HOME, HEALTH AND LIFE INSURANCE PROGRAMS, 3) FREE FINANCIAL EDUCATION TOOLS, AND 4) MERCHANT AND RECREATION DISCOUNTS.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matt Adams

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Mike Daniels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • David Ely

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Harry Le Grande

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Yvonne Marsh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Les Overman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Beverly Randez

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Todd Tharp

    PRESIDENT/CEO

    Total calculated
    $840,118
    From this org
    $789,199
    From related orgs
    $0
    Other
    $50,919
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $566,107
    Bonus
    $0
    Other
    $223,092
    Deferred
    $15,568
    Nontaxable benefits
    $35,351
    Filer's total
    $840,118

  • John Stevenson

    SVP/CFO/SECRETARY

    Total calculated
    $319,666
    From this org
    $305,537
    From related orgs
    $0
    Other
    $14,129
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,000
    Bonus
    $20,954
    Other
    $24,583
    Deferred
    $14,048
    Nontaxable benefits
    $81
    Filer's total
    $319,666

  • Karen Smith

    SVP/CHIEF CREDIT OFFICER

    Total calculated
    $311,419
    From this org
    $277,502
    From related orgs
    $0
    Other
    $33,917
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,452
    Bonus
    $19,547
    Other
    $25,503
    Deferred
    $10,578
    Nontaxable benefits
    $23,339
    Filer's total
    $311,419

  • Charles Williams

    SVP/CHIEF RISK OFFICER

    Total calculated
    $302,545
    From this org
    $257,926
    From related orgs
    $0
    Other
    $44,619
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,616
    Bonus
    $19,547
    Other
    $24,763
    Deferred
    $11,113
    Nontaxable benefits
    $33,506
    Filer's total
    $302,545

  • Rishi Dave

    VP ENTERPRISE TECH. & ARCHITECTURE

    Total calculated
    $294,256
    From this org
    $250,475
    From related orgs
    $0
    Other
    $43,781
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,842
    Bonus
    $10,000
    Other
    $18,633
    Deferred
    $12,840
    Nontaxable benefits
    $30,941
    Filer's total
    $294,256

  • Gloria Nunes

    VP/CHIEF PEOPLE OFFICER

    Total calculated
    $222,846
    From this org
    $199,436
    From related orgs
    $0
    Other
    $23,410
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,330
    Bonus
    $12,373
    Other
    $14,733
    Deferred
    $10,046
    Nontaxable benefits
    $13,364
    Filer's total
    $222,846

  • Andrew Judge

    VP INTERNAL AUDIT

    Total calculated
    $205,180
    From this org
    $185,221
    From related orgs
    $0
    Other
    $19,959
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,161
    Bonus
    $3,000
    Other
    $1,060
    Deferred
    $9,208
    Nontaxable benefits
    $10,751
    Filer's total
    $205,180

  • Chris De Jesus

    VP CORE APPLICATION EFFICIENCY & EFFECTIVENESS

    Total calculated
    $188,445
    From this org
    $170,155
    From related orgs
    $0
    Other
    $18,290
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,092
    Bonus
    $3,000
    Other
    $7,063
    Deferred
    $7,539
    Nontaxable benefits
    $10,751
    Filer's total
    $188,445

  • Casey Christian

    DIRECTOR INFORMATION SECURITY

    Total calculated
    $182,950
    From this org
    $174,283
    From related orgs
    $0
    Other
    $8,667
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,331
    Bonus
    $0
    Other
    $952
    Deferred
    $8,667
    Nontaxable benefits
    $0
    Filer's total
    $182,950

  • Nara Hartmann

    VP OF LEGAL/COMPLIANCE/RISK

    Total calculated
    $177,337
    From this org
    $167,397
    From related orgs
    $0
    Other
    $9,940
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,787
    Bonus
    $12,500
    Other
    $2,110
    Deferred
    $8,326
    Nontaxable benefits
    $1,614
    Filer's total
    $177,337

  • Ryan Harris

    SOFTWARE ENGINEERING & DEVELOPMENT MANAGER

    Total calculated
    $173,916
    From this org
    $155,441
    From related orgs
    $0
    Other
    $18,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,500
    Bonus
    $0
    Other
    $3,941
    Deferred
    $7,724
    Nontaxable benefits
    $10,751
    Filer's total
    $173,916

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • THE BLUPEAK FOUNDATION

    501(C)(3) · PROMOTE ACCESS TO CLEAN WATER · CA · controlled entity

    Directly controlled by BLUPEAK CREDIT UNION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • USE FINANCIAL SERVICES LLC

    FINANCIAL SERVICES (INACTIVE) · CA · income $0 · assets $0

    Directly controlled by BLUPEAK CREDIT UNION

Provenance

Return type
form_990
Tax year
2025
Filed
15 September 2026
IRS schema version
2025v4.2
Source object
202612599349301021

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