Jun, 30, 2024 — SAN MATEO CREDIT UNION is a federally insured state chartered credit union headquartered in REDWOOD CITY, CA with 8 branch locations and about $1.69 billion in total assets. Opened 73 years ago in 1952, SAN MATEO CREDIT UNION has about 89,145 members and employs 203 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: | 89,145 |
| 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: | $1,685,212,502 |
| CEO/Manager: | Wade Painter |
| Chairperson: | Brian Ponty |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 342,888,911 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 834,539,156 |
| Unsecured Loans | 67,886,661 |
| Other Loans | 337,376,365 |
| TOTAL LOANS | 1,239,802,182 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,200,557 |
| Land And Building | 13,509,726 |
| Other Fixed Assets | 18,051,947 |
| NCUSIF Deposit | 14,508,299 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,685,212,502 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 25,422,453 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 381,625,233 |
| Regular shares | 606,179,745 |
| All Other Shares & Deposits | 499,795,685 |
| TOTAL SHARES & DEPOSITS | 1,487,600,663 |
| TOTAL LIABILITIES | 1,513,023,116 |
| Regular Reserve | 0 |
| Other Reserves | 10,409,025 |
| Undivided Earnings | 161,780,361 |
| TOTAL EQUITY | 172,189,386 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,685,212,502 |
| INCOME & EXPENSE | |
| Loan Income | 29,311,435 |
| Investment Income | 5,943,202 |
| Other Income | 3,867,753 |
| Total Employee Compensation & Benefits | 17,601,060 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 16,180,212 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 550,673 |
| Cost of Funds | 4,509,746 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,506,359 |
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