Jun, 30, 2024 — PROVIDENT CREDIT UNION is a federally insured state chartered credit union headquartered in REDWOOD CITY, CA with 23 branch locations and about $3.51 billion in total assets. Opened 74 years ago in 1950, PROVIDENT CREDIT UNION has about 133,858 members and employs 347 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: | 133,858 |
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, 2021 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $3,509,357,907 |
CEO/Manager: | James Ernest |
Chairperson: | David Pelzner |
ASSETS: | $ Amount |
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Cash & Equivalents | 140,879,360 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,667,416,888 |
Unsecured Loans | 49,079,414 |
Other Loans | 332,440,349 |
TOTAL LOANS | 2,048,936,651 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -10,644,853 |
Land And Building | 23,177,506 |
Other Fixed Assets | 8,392,482 |
NCUSIF Deposit | 27,095,763 |
All Other Assets | 119,442 |
TOTAL ASSETS | 3,509,357,907 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 604,661 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 43,204,355 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 214,202,119 |
Regular shares | 1,678,846,536 |
All Other Shares & Deposits | 1,278,287,590 |
TOTAL SHARES & DEPOSITS | 3,171,336,245 |
TOTAL LIABILITIES | 3,215,145,261 |
Regular Reserve | 0 |
Other Reserves | -26,054,181 |
Undivided Earnings | 320,266,827 |
TOTAL EQUITY | 294,212,646 |
TOTAL LIABILITIES, SHARES, & EQUITY | 3,509,357,907 |
INCOME & EXPENSE | |
Loan Income | 46,605,807 |
Investment Income | 11,481,247 |
Other Income | 5,064,495 |
Total Employee Compensation & Benefits | 33,126,932 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 34,804,099 |
Non-operating Income & (Expense) | 3,171,350 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 317,858 |
Cost of Funds | 10,403,880 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,303,756 |
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