Dec, 31, 2023 — PROVIDENT CREDIT UNION is a federally insured state chartered credit union headquartered in REDWOOD CITY, CA with 23 branch locations and about $3.50 billion in total assets. Opened 74 years ago in 1950, PROVIDENT CREDIT UNION has about 135,664 members and employs 324 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PROVIDENT CREDIT UNION |
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Address: (Main Office) | 303 Twin Dolphin Dr REDWOOD CITY, CA 94065-1497 |
Phone: | (650) 508-0300 |
Fax: | (650) 508-7284 |
Website: | https://providentcu.org |
Branches: | 23 branch locations |
Members: | 135,664 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66343 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1950 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $3,497,380,170 |
CEO/Manager: | James Ernest |
Chairperson: | June Rothe |
ASSETS: | $ Amount |
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Cash & Equivalents | 110,391,749 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,094,593,770 |
Unsecured Loans | 53,494,667 |
Other Loans | 337,918,625 |
TOTAL LOANS | 2,486,007,062 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,596,166 |
Land And Building | 21,815,407 |
Other Fixed Assets | 7,630,247 |
NCUSIF Deposit | 26,504,310 |
All Other Assets | 72,069 |
TOTAL ASSETS | 3,497,380,170 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 127,768 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 43,907,820 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 183,876,684 |
Regular shares | 1,340,943,465 |
All Other Shares & Deposits | 1,590,889,192 |
TOTAL SHARES & DEPOSITS | 3,115,709,342 |
TOTAL LIABILITIES | 3,160,218,947 |
Regular Reserve | 0 |
Other Reserves | 10,611,657 |
Undivided Earnings | 326,549,566 |
TOTAL EQUITY | 337,161,223 |
TOTAL LIABILITIES, SHARES, & EQUITY | 3,497,380,170 |
INCOME & EXPENSE | |
Loan Income | 90,290,511 |
Investment Income | 19,588,217 |
Other Income | 6,509,349 |
Total Employee Compensation & Benefits | 44,404,150 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 45,353,824 |
Non-operating Income & (Expense) | 3,383,747 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 857,688 |
Cost of Funds | 47,203,208 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,330,285 |
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