PACIFIC SERVICE 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

1936

Legal Domicile

Principal Officer

VIRGINIA LAMPSON

Phone

9256095000

Tax Period

2023-01-01 to 2023-12-31

PACIFIC SERVICE CREDIT UNION, founded in 1936, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $63.2M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Net assets of $160.4M represent 30 months of operating reserves.

Mission

PACIFIC SERVICE CREDIT UNION IS A FULL SERVICE STATE-CHARTERED CREDIT UNION THAT PROVIDES A BROAD RANGE OF LOAN AND DEPOSIT PRODUCTS AND OTHER FINANCIAL SERVICES TO ITS MEMBERS USING VARIOUS CHANNELS INCLUDING BRANCHES, A CALL CENTER, MOBILE APPLICATIONS, AND THE INTERNET.

Program Service Accomplishments

Program 1

PACIFIC SERVICE CREDIT UNION (PSCU) WAS FOUNDED IN 1936 TO SERVE EMPLOYEES OF PG&E IN THE SAN FRANCISCO BAY AREA. OVER EIGHTY-FOUR YEARS LATER, PSCU NOW SERVES MORE THAN 65,000 MEMBERS WHO LIVE...

PACIFIC SERVICE CREDIT UNION (PSCU) WAS FOUNDED IN 1936 TO SERVE EMPLOYEES OF PG&E IN THE SAN FRANCISCO BAY AREA. OVER EIGHTY-FOUR YEARS LATER, PSCU NOW SERVES MORE THAN 65,000 MEMBERS WHO LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN ALAMEDA, CONTRA COSTA, FRESNO, MARIN, NAPA, PLACER, SACRAMENTO, SAN FRANCISCO, SAN MATEO, SANTA CLARA, SOLANO AND SONOMA COUNTIES. MEMBERS CAN TRANSACT IN ANY OF OUR SIX BRANCHES, AT ANY OF OVER 5,000 SHARED BRANCH LOCATIONS AVAILABLE THROUGH CO-OP SHARED BRANCH NETWORK, USING ATMS, ONLINE VIA OUR INTERNET HOME BANKING OR MOBILE SITES, USING POINT OF SALE WITH THEIR VISA DEBIT OR CREDIT CARD OR BY CALLING OUR TELEPHONE SERVICE CENTER OR TOLL-FREE AUTOMATED TELEPHONE BANKING SYSTEM.

Program 2

PACIFIC SERVICE CREDIT UNION (PSCU) OFFERS A VARIETY OF DEPOSIT PRODUCTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE, IRA, COVERDELL EDUCATION SAVINGS AND YOUTH ACCOUNTS. PSCU CHECKING...

PACIFIC SERVICE CREDIT UNION (PSCU) OFFERS A VARIETY OF DEPOSIT PRODUCTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE, IRA, COVERDELL EDUCATION SAVINGS AND YOUTH ACCOUNTS. PSCU CHECKING PRODUCT OPTIONS CAN EARN INTEREST, ARE FREE FROM MONTHLY SERVICE CHARGES, ALLOW THE MEMBER TO OBTAIN RATE DISCOUNTS ON AUTO LOANS OR HELP A YOUNG MEMBER OPEN THEIR FIRST CHECKING ACCOUNT. PSCU'S DEPOSIT RATES ARE COMPETITIVE WITH THE MARKET AND ARE TYPICALLY HIGHER THAN BANKS. TOTAL MEMBER SHARE BALANCE AT DECEMBER 31, 2023 WAS $1,132,068,046.

Program 3

PACIFIC SERVICE CREDIT UNION (PSCU) OFFERS A VARIETY OF COMPETITIVELY PRICED MORTGAGE LOAN OPTIONS AVAILABLE FOR A PRIMARY RESIDENCE OR SECOND HOME. PSCU HOME EQUITY LOAN OPTIONS RANGE FROM 5 TO 30 YEARS, AND MEMBERS MAY ALSO OBTAIN HOME EQUITY LINES OF CREDIT. PSCU OFFERS VEHICLE LOANS FOR NEW AND USED CARS, NEW AND USED BOATS, AS WELL AS NEW AND USED RVS. VISA CREDIT CARD LOANS INCLUDE A NO ANNUAL FEE OPTION AS WELL AS A CARD EARNING REWARDS POINTS. PSCU OFFERS OTHER CONSUMER LOANS FOR MEMBERS SUCH AS PERSONAL SIGNATURE LOANS, AS WELL AS SHARE AND CERTIFICATE SECURED LOANS. FOR OUR MEMBERS WHO ARE STARTING TO BUILD THEIR CREDIT, PSCU OFFERS A STARTER VISA AND A FIRST-TIME AUTO LOAN PROGRAM. TOTAL MEMBER LOAN BALANCE AT DECEMBER 31, 2023 WAS $1,033,741,846.

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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 $57,890,054

Investment Income $5,297,002

Other Revenue $57,611

TOTAL REVENUE $63,244,667

Expense Breakdown

Grants Paid $222,100

Salaries & Benefits $23,082,225

Fundraising Expenses $0

Other Expenses $38,997,691

TOTAL EXPENSES $62,302,016

Year-over-Year Comparison

	2023	2022	Change
Revenue	$63,244,667	$55,384,960	+0.1%
Expenses	$62,302,016	$47,670,222	+0.3%
Net Income	$942,651	$7,714,738	-0.9%

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

186

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

$1,582,707

Total Directors

Key Employees

$2,906,596

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VIRGINIA LAMPSON	PRESIDENT & CEO	40.00	Officer	$834,196	$180,404	$1,014,600
DAVID KATO	EVP & CFO	40.00	Officer	$502,287	$65,820	$568,107
KRISTIN DOVE	SVP & CMO	40.00	Key Emp	$415,670	$55,750	$471,420
BARBARA SMITH	SVP & CAO	40.00	Key Emp	$386,854	$57,111	$443,965
JEFFREY BELL	SVP & CSO	40.00	Key Emp	$382,843	$20,640	$403,483
MICHELLE SHELOR	SVP & COO	40.00	Key Emp	$333,321	$42,592	$375,913
HEMLATA PATEL	SVP & CLO	40.00	Key Emp	$328,037	$41,200	$369,237
PANSY FONG	VP & CONTROLLER	40.00	Key Emp	$334,302	$23,777	$358,079
MAYRA DOMINGUEZ	VP	40.00	Highest	$246,277	$22,229	$268,506
MARIAN MALLORY-WALL	SVP & CRO (STARTED 2/28/23)	40.00	Key Emp	$244,181	$16,214	$260,395
ANGELITO CRISTOBAL	VP	40.00	Highest	$206,998	$38,497	$245,495
ROBERT MORAN	AVP	40.00	Highest	$199,113	$38,521	$237,634
BETINA MARCELO	VP	40.00	Highest	$200,727	$23,768	$224,495
KEVIN ALSUP	SVP & CTO (STARTED 3/27/23)	40.00	Key Emp	$206,292	$17,812	$224,104
STEVEN CRAIGE	VP (RETIRED 4/13/23)	40.00	Highest	$210,252	$13,200	$223,452
JULIA BANNING	FORMER SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JOHN CADWALADER	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM CHEN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
MARIA DEMARTINI	CHAIR	2.00	Officer Director	$0	$0	$0
ARLENE MOTTER	DIRECTOR	1.00	Director	$0	$0	$0
AMAR PANCHAL	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JIM PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SENA	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN TAPPERO	DIRECTOR	1.00	Director	$0	$0	$0
BETTY VINEYARD	DIRECTOR	1.00	Director	$0	$0	$0

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	$63,244,667	$62,302,016	$1,457,039,539	$942,651
2022	$55,384,960	$47,670,222	$1,429,006,506	$7,714,738
2021	$45,146,351	$40,544,137	$1,408,244,390	$4,602,214
2020	$47,480,452	$43,026,747	$1,322,398,530	$4,453,705
2019	$47,870,888	$40,571,079	$1,166,911,803	$7,299,809
2018	$43,219,648	$35,150,364	$1,153,544,192	$8,069,284