Dec, 31, 2021 — SAN MATEO CREDIT UNION is a federally insured state chartered credit union headquartered in REDWOOD CITY, CA with 9 branch locations and about $1.65 billion in total assets. Opened 70 years ago in 1952, SAN MATEO CREDIT UNION has about 106,659 members and employs 194 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SAN MATEO CREDIT UNION |
|---|---|
| Address: (Main Office) | 350 Convention Way REDWOOD CITY, CA 94063 |
| Phone: | (650) 363-1725 |
| Fax: | |
| Website: | http://www.smcu.org |
| Branches: | 9 branch locations |
| Members: | 106,659 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62736 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,649,770,531 |
| CEO/Manager: | Wade Painter |
| Chairperson: | Brian Ponty |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 485,536,691 |
| TOTAL INVESTMENTS | 38,324,394 |
| Loans Held for Sale | 838,948 |
| Real Estate Loans | 719,015,061 |
| Unsecured Loans | 63,438,776 |
| Other Loans | 279,929,315 |
| TOTAL LOANS | 1,062,383,152 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,382,403 |
| Land And Building | 13,899,158 |
| Other Fixed Assets | 19,147,424 |
| NCUSIF Deposit | 13,096,052 |
| All Other Assets | 20,927,115 |
| TOTAL ASSETS | 1,649,770,531 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 35,393,393 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 364,933,109 |
| Regular shares | 576,840,440 |
| All Other Shares & Deposits | 509,056,359 |
| TOTAL SHARES & DEPOSITS | 1,450,829,908 |
| TOTAL LIABILITIES | 1,486,223,301 |
| Regular Reserve | 13,271,995 |
| Other Reserves | 1,234 |
| Undivided Earnings | 150,274,001 |
| TOTAL EQUITY | 163,547,230 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,649,770,531 |
| INCOME & EXPENSE | |
| Loan Income | 35,966,924 |
| Investment Income | 1,569,440 |
| Other Income | 5,060,897 |
| Total Employee Compensation & Benefits | 22,002,345 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 21,275,777 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -1,442,312 |
| Cost of Funds | 4,155,093 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 14,201,635 |
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