SAN MATEO CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1952

Legal Domicile

Principal Officer

WADE PAINTER

Phone

6503631716

Tax Period

2023-01-01 to 2023-12-31

SAN MATEO CREDIT UNION, founded in 1952, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $88.3M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $24.5M, a strong 28% operating margin.

Mission

PASSIONATELY DELIVER RELEVANT PRODUCTS, SERVICES, AND EDUCATION TAILORED TO HELP OUR MEMBERS, EMPLOYEES, AND COMMUNITIES ACHIEVE THEIR FINANCIAL GOALS.

Program Service Accomplishments

Program 1

MONTERRA CREDIT UNION IS A FINANCIAL COOPERATIVE SERVING THE COMMUNITIES WITHIN SAN MATEO COUNTY, CITY OF PALO ALTO AND SELECT NEIGHBORHOODS IN SAN FRANCISCO. WE HAVE SEVEN BRANCHES THROUGHOUT THESE GEOGRAPHICAL AREAS AND A HEADQUARTERS OFFICE LOCATED IN REDWOOD CITY, CALIFORNIA. AS OF YEAR-END 2023, WE HAD 94,907 MEMBER-OWNERS. WE OFFER OUR MEMBERS A WIDE ARRAY OF RETAIL FINANCIAL PRODUCTS AND SERVICES, AND WE PROVIDE FINANCIAL EDUCATION TO YOUTH AND ADULTS THROUGHOUT THE COMMUNITIES WE SERVE. MONTERRA CREDIT UNION OFFERS AN ARRAY OF CONSUMER FINANCIAL PRODUCTS, INCLUDING RESIDENTIAL REAL ESTATE LOANS, AUTOMOBILE LOANS, SECURED AND UNSECURED LOANS AND CREDIT CARDS, AS WELL AS CHECKING, SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $69,997,800

Investment Income $18,012,611

Other Revenue $252,693

TOTAL REVENUE $88,263,104

Expense Breakdown

Grants Paid $116,856

Salaries & Benefits $26,000,352

Fundraising Expenses $0

Other Expenses $24,193,156

TOTAL EXPENSES $63,730,186

Year-over-Year Comparison

	2023	2022	Change
Revenue	$88,263,104	$70,068,460	+0.3%
Expenses	$63,730,186	$51,836,419	+0.2%
Net Income	$24,532,918	$18,232,041	+0.3%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

234

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,128,374

Total Directors

Key Employees

$2,857,263

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE DIVNEY	CHAIR	1.00	Officer Director	$0	$0	$0
JOHN BEIERS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KATE HARR	SECRETARY	1.00	Officer Director	$0	$0	$0
MAGDA GONZALEZ	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL CLAIRE	DIRECTOR	1.00	Director	$0	$0	$0
PAUL OKADA	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN PONTY	DIRECTOR	1.00	Director	$0	$0	$0
WADE PAINTER	CEO/PRESIDENT	40.00	Officer	$759,104	$24,366	$783,470
DAVID DIAMOND	VP, CHIEF FINANCIAL OFFICER	40.00	Officer	$328,737	$16,167	$344,904
VALERIE ALSIP	EVP/COO	40.00	Key Emp	$429,210	$16,552	$445,762
PATRICIA ELLINGSON	SVP, CHIEF LENDING OFFICER	40.00	Key Emp	$300,906	$26,210	$327,116
REBECCA NIXON	VP EMPLOYEE RELATIONS	40.00	Key Emp	$256,486	$21,053	$277,539
WILLIAM ANDREWS	VP INFORMATION SERVICES	40.00	Key Emp	$203,711	$18,033	$221,744
DOREEN SZYMANKSKI	VP MEMBER EXPERIENCE	40.00	Key Emp	$201,135	$24,447	$225,582
IGNASIO MEDRANO	VP DIGITAL SERVICES	40.00	Key Emp	$207,676	$13,459	$221,135
ROBERT CARTER	VP ADMINISTRATIVE SERVICES	40.00	Key Emp	$213,669	$14,164	$227,833
RICHARD KINZIE	VP RISK & COMPLIANCE	40.00	Key Emp	$206,285	$17,637	$223,922
DANI ROBINSON	VP CREDIT RISK	40.00	Key Emp	$172,754	$14,178	$186,932
SUZANNE KNOWLTON	VP MARKETING & COMMUNITY RELATIONS	40.00	Key Emp	$259,121	$21,187	$280,308
CHERYL RAYO	VP REAL ESTATE LENDING	40.00	Key Emp	$209,180	$10,210	$219,390
EMILIO JOHANSEN	EXECUTIVE WEALTH ADVISOR	40.00	Highest	$280,296	$27,935	$308,231
ANATOLY VILDERMAN	EXECUTIVE WEALTH ADVISOR	40.00	Highest	$278,038	$17,464	$295,502
JOHNNY ESCALANTE	DIRECTOR OF INFORMATION SERVICES	40.00	Highest	$169,274	$14,834	$184,108
JANELLE EATON-ESCALANTE	DIRECTOR OF EMPLOYEE RELATIONS	40.00	Highest	$163,768	$6,269	$170,037
FANGZHOU LIU	IS PROGRAMMING LEAD	40.00	Highest	$144,522	$5,997	$150,519

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$88,263,104	$63,730,186	$1,674,734,928	$24,532,918
2022	$70,068,460	$51,836,419	$1,661,497,926	$18,232,041
2021	$59,342,431	$46,583,108	$1,651,880,221	$12,759,323
2020	$64,270,513	$50,133,413	$1,435,484,397	$14,137,100
2019	$62,264,732	$46,496,514	$1,161,663,520	$15,768,218
2018	$55,562,052	$40,673,896	$1,070,921,854	$14,888,156