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← CREDIT UNIONS IN THE STATE OF CALIFORNIA

Form 990 for tax year 2022

Filed by CREDIT UNIONS IN THE STATE OF CALIFORNIA.

Totals

Total revenue
$1,862,806
Total expenses
$1,614,975
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,440,022
Investment income
$417,354
Other revenue
$5,430
Total assets, end of year
$62,733,604
Total liabilities, end of year
$58,497,143
Net assets or fund balances, end of year
$4,236,461
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 SERVICE REVENUE

    total $1,225,843 · related or exempt $1,221,765 · unrelated business $4,078

  • 2b · Program service revenue: FEE INCOME

    total $214,179 · related or exempt $214,179

  • 3 · Investment income

    total $417,354 · related or exempt $417,354

  • 11a · Other revenue: OTHER INCOME

    total $5,430 · related or exempt $5,430

  • 11e · Other revenue, total

    $5,430

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $85,336

  • 7 · Other salaries and wages

    total $516,299

  • 8 · Pension plan contributions

    total $9,480

  • 9 · Other employee benefits

    total $81,352

  • 10 · Payroll taxes

    total $49,361

  • 11b · Fees: legal

    total $5,478

  • 11c · Fees: accounting

    total $38,000

  • 11g · Fees: other

    total $152,537

  • 12 · Advertising and promotion

    total $14,191

  • 13 · Office expenses

    total $135,644

  • 14 · Information technology

    total $123,346

  • 16 · Occupancy

    total $145,503

  • 17 · Travel

    total $14,820

  • 20 · Interest

    total $34,690

  • 22 · Depreciation, depletion and amortization

    total $19,379

  • 23 · Insurance

    total $41,575

  • 24a · Other expenses: MISC. OPERATING EXPENSE

    total $68,232

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $61,282

  • 24c · Other expenses: OPERATING FEES

    total $10,475

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $7,995

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $592,755 · end of year $581,055

  • 2 · Savings and temporary cash investments

    beginning of year $21,715,097 · end of year $13,693,153

  • 9 · Prepaid expenses and deferred charges

    beginning of year $70,943 · end of year $70,013

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

    $1,054,035

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

    $971,058

  • 10c · Land, buildings and equipment, net

    beginning of year $101,617 · end of year $82,977

  • 13 · Investments: program-related

    beginning of year $41,312,853 · end of year $47,911,837

  • 15 · Other assets

    beginning of year $180,716 · end of year $394,569

  • 17 · Accounts payable and accrued expenses

    beginning of year $244,017 · end of year $456,886

  • 25 · Other liabilities

    beginning of year $59,741,334 · end of year $58,040,257

  • 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 $3,988,630 · end of year $4,236,461

Mission and programs · 2022

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, SILVERADO CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Activities or mission (Part I)

A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS

  • ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING SAVINGS ACCOUNTS, CHECKING ACCOUNTS, A HIGH-YIELD CHECKING ACCOUNT PRODUCT, A PREMIUM-RATE MONEY MARKET SAVINGS PRODUCT, AND CERTIFICATE SAVINGS ACCOUNTS.

  • ACHIEVED SATISFACTORY RESULTS IN PROVIDING OUR MEMBERS WITH A BROAD ARRAY OF CONSUMER LOAN PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, RECREATIONAL VEHICLES, UNSECURED PERSONAL LINES OF CREDIT, VISA CARDS AND PLEDGE SHARE LOANS.

  • ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sherrilyn Roth

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jeff Veness

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Curtis Church

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gary Galusha

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Grimes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Kendrick

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Daniel Madrid

    SUPV CMTE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Mark Pacini

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Amanda Granados

    SUPV CMTE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Marilyn Van Dolson

    PRESIDENT/TREASURER

    Total calculated
    $90,493
    From this org
    $85,336
    From related orgs
    $0
    Other
    $5,157
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202323119349304377

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