SACRAMENTO CREDIT UNION

EIN: 941530642 Public & Societal Benefit

SACRAMENTO, CA

Total Revenue
$39,334,366
Total Expenses
$29,865,077
Total Assets
$760,065,390
Net Assets
$110,467,455
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Financial Trends

Organization Details

Formation Year
1935
Legal Domicile
CA
Principal Officer
BHAVNESH MAKIN
Phone
9164446070
Tax Period
2024-01-01 to 2024-12-31

SACRAMENTO CREDIT UNION, founded in 1935, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $39.3M in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.5M, a strong 24% operating margin.

Mission

SACRAMENTO CREDIT UNION'S MISSION IS TO PROVIDE PROMPT, COMPETITIVE, QUALITY CONSUMER FINANCIAL SERVICES TO OUR MEMBERS IN A FRIENDLY, PROFESSIONAL, AND PRUDENT MANNER.

Program Service Accomplishments

Program 1

ESTABLISHED MARCH 18, 1935, SACRAMENTO CREDIT UNION (THE CREDIT UNION) IS INCORPORATED UNDER SECTION 14100 OF THE CREDIT UNION DIVISION OF THE STATE OF CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT...

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ESTABLISHED MARCH 18, 1935, SACRAMENTO CREDIT UNION (THE CREDIT UNION) IS INCORPORATED UNDER SECTION 14100 OF THE CREDIT UNION DIVISION OF THE STATE OF CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT. THE CREDIT UNION IS A FEDERALLY INSURED COMMUNITY CREDIT UNION SERVING 28,838 MEMBERS ACROSS THE FOLLOWING COUNTIES: SACRAMENTO, EL DORADO, PLACER, SOLANO, SUTTER, YOLO, AND YUBA. COMPOSED OF INDIVIDUALS, CORPORATIONS, PARTNERSHIPS, AND OTHER LEGAL ENTITIES, THE CREDIT UNION MAINTAINS THE STANDARDS OF A TRADITIONAL MEMBER-OWNED COOPERATIVE WHILE PROVIDING SUPERIOR FINANCIAL SERVICES AT SEVEN LOCATIONS AS WELL AS CONVENIENT PAYMENT OPPORTUNITIES AFFORDED BY ONLINE BANKING, BILL PAY, MOBILE BANKING, POINT-OF-SALE, AND ATM TRANSACTIONS.

Program 2

SACRAMENTO CREDIT UNION (THE CREDIT UNION) OFFERS A WIDE RANGE OF COMPETITIVELY PRICED CONSUMER LOAN PRODUCTS TO HELP MEMBERS WITH FINANCING FOR VEHICLES AND FIRST MORTGAGES. FINANCING IS ALSO...

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SACRAMENTO CREDIT UNION (THE CREDIT UNION) OFFERS A WIDE RANGE OF COMPETITIVELY PRICED CONSUMER LOAN PRODUCTS TO HELP MEMBERS WITH FINANCING FOR VEHICLES AND FIRST MORTGAGES. FINANCING IS ALSO AVAILABLE IN THE FORM OF SECURED AND UNSECURED LINES OF CREDIT. REGARDING THE LATTER, THE CREDIT UNION OFFERS VISA PLATINUM CREDIT CARDS BOTH WITH AND WITHOUT THE POPULAR REWARDS FEATURE. THE CREDIT UNION ALSO OFFERS COMMERCIAL REAL ESTATE LOANS AND SBA LOANS.

Program 3

SACRAMENTO CREDIT UNION OFFERS A BROAD RANGE OF DEPOSIT PRODUCTS TO ASSIST MEMBERS IN MANAGING CASH FLOW AND SAVING FOR THE FUTURE. INSURED TO AT LEAST $250,000 AND BACKED BY THE FULL FAITH AND...

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SACRAMENTO CREDIT UNION OFFERS A BROAD RANGE OF DEPOSIT PRODUCTS TO ASSIST MEMBERS IN MANAGING CASH FLOW AND SAVING FOR THE FUTURE. INSURED TO AT LEAST $250,000 AND BACKED BY THE FULL FAITH AND CREDIT OF THE FEDERAL GOVERNMENT, SAVINGS OPPORTUNITIES INCLUDE THE FOLLOWING COMPETIVELY PRICED ACCOUNTS: REGULAR, VACATION CLUB, HOLIDAY, IRA, MONEY MARKET, REGULAR AND REWARDS CHECKING, AND CERTIFICATES OF DEPOSIT. SAVINGS IS MADE CONVENIENT VIA DIRECT DEPOSIT OF PAY CHECKS AS WELL AS ANY OTHER RECURRING SOURCE OF CASH INFLOW. THROUGH ONLINE, MOBILE OR TELEPHONE BANKING, MEMBERS CAN EASILY TRANSFER FUNDS BETWEEN SAVINGS ACCOUNTS OR MAKE PAYMENT ON LOANS. ALSO AVAILABLE ARE INVESTMENT SERVICES PROVIDED BY CERTIFIED IN-HOUSE FINANCIAL ADVISORS.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $27,790,325
Investment Income $11,522,572
Other Revenue $21,469
TOTAL REVENUE $39,334,366

Expense Breakdown

Grants Paid $0
Salaries & Benefits $9,971,112
Fundraising Expenses $0
Other Expenses $19,893,965
TOTAL EXPENSES $29,865,077

Year-over-Year Comparison

2024 2023 Change
Revenue $39,334,366 $29,216,353 +0.3%
Expenses $29,865,077 $22,223,555 +0.3%
Net Income $9,469,289 $6,992,798 +0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
124
Volunteers
12

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
5
$790,159
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARON BREWER SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
LES BROWN CHAIR 1.00
Officer Director
$0 $0 $0
JIM CULLETON DIRECTOR 1.00
Director
$0 $0 $0
ROSS HUGGINS DIRECTOR 1.00
Director
$0 $0 $0
HERMAN LI DIRECTOR 1.00
Director
$0 $0 $0
JUDY MCGARRY DIRECTOR 1.00
Director
$0 $0 $0
WILLIE SOUTHWARD III VICE CHAIR 1.00
Officer Director
$0 $0 $0
BHAVNESH MAKIN PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00
Officer
$487,391 $38,250 $525,641
GLENDA KAISER CHIEF FINANCIAL OFFICER 40.00
Officer
$228,515 $36,003 $264,518
TARIK ELDIN DIRECTOR INVESTMENT SERVICES 40.00
Highest
$893,635 $50,554 $944,189
MICHAEL HASTINGS FINANCIAL ADVISOR 40.00
Highest
$231,936 $36,006 $267,942
JULIE SHEPHERD VP LENDING 40.00
Highest
$190,203 $24,962 $215,165
KARL GOIN VP MARKETING 40.00
Highest
$168,384 $19,588 $187,972
ALETHA HICKEY VP HUMAN RESOURCES 40.00
Highest
$153,649 $16,530 $170,179
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 $39,334,366 $29,865,077 $760,065,390 $9,469,289
2023 $29,216,353 $22,223,555 $806,115,615 $6,992,798
2022 $23,666,201 $17,547,846 $713,970,677 $6,118,355
2021 $22,206,265 $16,421,053 $686,832,962 $5,785,212
2020 $23,272,009 $16,427,770 $606,462,494 $6,844,239
2019 $22,005,987 $15,046,369 $498,944,488 $6,959,618
2018 $19,543,970 $13,532,256 $476,472,075 $6,011,714
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