Dec, 31, 2023 — SAN MATEO CREDIT UNION is a federally insured state chartered credit union headquartered in REDWOOD CITY, CA with 8 branch locations and about $1.68 billion in total assets. Opened 72 years ago in 1952, SAN MATEO CREDIT UNION has about 94,907 members and employs 212 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: | https://www.smcu.org |
| Branches: | 8 branch locations |
| Members: | 94,907 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,677,879,658 |
| CEO/Manager: | Wade Painter |
| Chairperson: | Steve Divney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 208,459,817 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 923,821,961 |
| Unsecured Loans | 74,795,255 |
| Other Loans | 375,912,392 |
| TOTAL LOANS | 1,374,529,608 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,957,792 |
| Land And Building | 13,132,493 |
| Other Fixed Assets | 16,185,647 |
| NCUSIF Deposit | 13,960,060 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,677,879,658 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 30,145,517 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 349,460,546 |
| Regular shares | 521,519,445 |
| All Other Shares & Deposits | 575,523,937 |
| TOTAL SHARES & DEPOSITS | 1,446,503,928 |
| TOTAL LIABILITIES | 1,476,649,445 |
| Regular Reserve | 0 |
| Other Reserves | -1,968,072 |
| Undivided Earnings | 203,198,285 |
| TOTAL EQUITY | 201,230,213 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,677,879,658 |
| INCOME & EXPENSE | |
| Loan Income | 54,547,829 |
| Investment Income | 18,012,610 |
| Other Income | 4,522,749 |
| Total Employee Compensation & Benefits | 26,000,353 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 25,382,900 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,568,043 |
| Cost of Funds | 13,419,822 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 24,532,918 |
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