WESCOM CENTRAL 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

1934

Legal Domicile

Principal Officer

CINDY LAW

Phone

8884937266

Tax Period

2023-01-01 to 2023-12-31

WESCOM CENTRAL CREDIT UNION, founded in 1934, is a major nonprofit that reported $323.5M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $299.7M left a modest 7% surplus.

Mission

THE GENERAL MISSION OF THE CREDIT UNION IS TO PROMOTE THRIFT, HONESTY, INTEGRITY AND A SPIRIT OF SERVICE AMONG ITS MEMBERS. IN ADDITION, THE ORGANIZATION MAKES LOANS TO ITS MEMBERS AT REASONABLE RATES, INVESTS EXCESS LIQUIDITY PRUDENTLY AND WITHIN LIMITS AS PERMITTED BY CALIFORNIA LAW, AND ENGAGES IN ANY OTHER LAWFUL ACTIVITY NOT PROHIBITED BY APPLICABLE LAWS AND REGULATIONS.

Program Service Accomplishments

Program 1

THE CREDIT UNION HAD $5.8 BILLION IN ASSETS, $3.2 BILLION IN LOANS AND $4.26 BILLION IN MEMBER DEPOSITS AS OF DECEMBER 31, 2023. THE CREDIT UNION POSTED NET EARNINGS OF $30 MILLION IN 2023.

Program 2

THE CREDIT UNION'S 2023 INITIATIVES INCLUDED MEMBERSHIP GROWTH, ENHANCING PRODUCTS AND SERVICES, MORE GROWTH WITH MERGER AND PARTNERSHIPS, INCREASED SERVICE IN OUR COMMUNITIES, DEVELOPMENTS IN...

THE CREDIT UNION'S 2023 INITIATIVES INCLUDED MEMBERSHIP GROWTH, ENHANCING PRODUCTS AND SERVICES, MORE GROWTH WITH MERGER AND PARTNERSHIPS, INCREASED SERVICE IN OUR COMMUNITIES, DEVELOPMENTS IN DELIVERY CHANNELS, AND LOAN GROWTH.

Program 3

THE CREDIT UNION THROUGH ITS EMPLOYEES, MEMBERS, AND WESCOM FOUNDATION SUPPORTED COMMUNITY OUTREACH THROUGHOUT 2023. $1,130,000+ GRANTED TO SUPPORT NON-PROFIT PARTNERS, $180,000 DONATED TO NATIONAL...

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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 $227,021,524

Investment Income $96,513,536

Other Revenue $0

TOTAL REVENUE $323,535,060

Expense Breakdown

Grants Paid $677,922

Salaries & Benefits $103,960,953

Fundraising Expenses $0

Other Expenses $195,026,211

TOTAL EXPENSES $299,665,086

Year-over-Year Comparison

	2023	2022	Change
Revenue	$323,535,060	$290,994,983	+0.1%
Expenses	$299,665,086	$224,798,968	+0.3%
Net Income	$23,869,974	$66,196,015	-0.6%

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

1007

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

$8,421,324

Total Directors

$93,391

Key Employees

$8,650,409

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
POURIA ABBASI	BOARD MEMBER	2.00	Director	$1,734	$0	$1,734
HANI BHIMIJI	VICE CHAIRMAN	2.00	Officer Director	$10,523	$0	$10,523
RON FISCHER	BOARD MEMBER	2.00	Director	$13,391	$0	$13,391
GINA FRIEDRICH	BOARD MEMBER	2.00	Director	$13,229	$0	$13,229
JESSICA GUTIERREZ	BOARD MEMBER	2.00	Director	$3,630	$0	$3,630
DANIEL KRAUS	SECRETARY	2.00	Officer Director	$16,991	$0	$16,991
JEFF LUONG	BOARD MEMBER	2.00	Director	$5,503	$0	$5,503
DAVID PEREZ	TREASURER	2.00	Officer Director	$7,095	$0	$7,095
NOEL ROSS	CHAIRMAN	2.00	Officer Director	$12,510	$0	$12,510
BRAD SELBY	BOARD MEMBER	2.00	Director	$8,785	$0	$8,785
WILLIAMS DARREN	PRESIDENT/CEO	40.00	Officer	$4,496,966	$1,327,102	$5,824,068
PIPES KEITH	EXECUTIVE VP AND COO	40.00	Officer	$1,053,709	$67,987	$1,121,696
PELLISSERY JOSEPH	SENIOR VP TECHNOLOGY/CIO	40.00	Officer	$589,306	$130,621	$719,927
YU IRVING	SENIOR VP FINANCE/CFO	40.00	Officer	$576,697	$131,817	$708,514
PEDERSON MELISSA	SENIOR VP ADMINISTRATION	40.00	Key Emp	$521,141	$99,271	$620,412
FORRESTER HASHIM	SENIOR VP REMOTE SERVICE DELIVERY	40.00	Key Emp	$516,007	$65,069	$581,076
THOMAS CHARLES	SENIOR VP CHIEF LENDING OFFICER	40.00	Key Emp	$515,396	$51,745	$567,141
ALLEN JONATHON	SENIOR VP FINANCIAL SERVICES AND DEPOSIT OPERATION	40.00	Key Emp	$478,373	$125,214	$603,587
HOLLIS CARINA	SENIOR VP AND GENERAL COUNSEL	40.00	Key Emp	$451,524	$48,990	$500,514
WELCH ADRIANA	SENIOR VP BRANCH OPERATIONS	40.00	Key Emp	$442,090	$104,749	$546,839
WINKLER STEPHANIE	VP HUMAN CAPITAL AND DEVELOPMENT	40.00	Key Emp	$369,425	$37,857	$407,282
LAW CINDY CHING-CHING	VP FINANCE	40.00	Key Emp	$354,475	$67,537	$422,012
BAUMAN JONATHON	VP LOAN SERVICING AND DEFAULT MANAGEMENT	40.00	Key Emp	$343,355	$49,402	$392,757
THOMPSON LISA	VP ENTERPRISE RISK	40.00	Key Emp	$336,402	$38,707	$375,109
PACHECO MAGGIE	VP MORTGAGE LENDING	40.00	Key Emp	$334,005	$51,745	$385,750
REDDI DESIGAN	VP IT OPERATIONS AND ARCHITECTURE	40.00	Key Emp	$326,197	$67,891	$394,088
KOKONYAN GARY	VP BUSINESS ANALYTICS	40.00	Key Emp	$319,337	$67,987	$387,324
SMRCKA JEFF	VP CONSUMER LENDING	40.00	Key Emp	$315,676	$67,937	$383,613
LOPEZ VICTOR	VP BRANCH OPERATIONS	40.00	Key Emp	$314,908	$30,367	$345,275
DY-RAGOS MARK	VP INFORMATION SECURITY	40.00	Key Emp	$310,821	$50,402	$361,223
HOSHIDE DARREN	VP BRANCH OPERATIONS	40.00	Key Emp	$298,193	$50,902	$349,095
SEDLAK BRIAN	VP INFORMATION TECHNOLOGY DEVELOPMENT	40.00	Key Emp	$297,137	$37,857	$334,994
CERWINSKI DAVID	VP CORPORATE DEVELOPMENT AND PRESIDENT WRG	40.00	Key Emp	$290,966	$49,568	$340,534
DOUGLASS RUSSELL	VP TREASURY	40.00	Key Emp	$286,847	$64,937	$351,784
KWE PAN	FINANCIAL ADVISOR	40.00	Highest	$472,305	$48,393	$520,698
RUBIA PHILIP	FINANCIAL ADVISOR	40.00	Highest	$322,854	$24,607	$347,461
THIEU TRUONG	FINANCIAL ADVISOR	40.00	Highest	$320,975	$32,973	$353,948
THORMAN ASHANA JEFFERSON	WEALTH ADVISOR	40.00	Highest	$237,579	$42,744	$280,323
FRENCH BARRIE	DIRECTOR INVESTMENTS	40.00	Highest	$224,429	$47,461	$271,890

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	$323,535,060	$299,665,086	$5,820,504,418	$23,869,974
2022	$290,994,983	$224,798,968	$5,648,909,213	$66,196,015
2021	$207,665,347	$180,157,190	$5,170,841,754	$27,508,157
2020	$201,120,703	$185,228,950	$4,502,286,439	$15,891,753
2019	$217,920,461	$189,482,828	$3,690,408,153	$28,437,633
2018	$200,967,857	$179,852,006	$3,478,388,201	$21,115,851