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Nonprofit · EIN 94-1482957

PROVIDENT CREDIT UNION

Tax-exempt · REDWOOD CITY, CA 94065

Financials

$145.1M$137.8M2023$163.8M$160.5M2024
Revenue Expenses · by fiscal year end
Financials of PROVIDENT CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$163,813,640$160,494,045$3,319,595$3,546,468,170$3,189,216,280$357,251,890
December 31, 2023990$145,149,155$137,818,872$7,330,283$3,497,380,170$3,160,218,947$337,161,223
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$134,075,258
Investment income
$27,547,858
Net rental income
$1,972,561
Net gain from sales of assets
$5,084
Other revenue
$2,190,524

Expenses

Grants and similar amounts paid
$277,505
Compensation of officers, directors and key employees
$5,741,122
Other salaries and wages
$28,320,022
Salaries, compensation and benefits (total)
$45,873,752
Professional fundraising fees
$0
Legal fees
$241,988
Accounting fees
$363,430
Occupancy
$7,409,764
Travel
$714,955
Depreciation
$4,439,138

Balance sheet and other

Total assets, start of year
$3,497,380,170
Total assets, end of year
$3,546,468,170
Total liabilities, end of year
$3,189,216,280
Net assets, end of year
$357,251,890
Land, buildings and equipment
$27,055,830
Publicly traded securities
$382,594,277
Gross unrelated business income
$673,416
Gross receipts
$163,835,556
Employees
410
Volunteers
14
Year formed
1950
State of legal domicile
CA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JAMES ERNESTPRESIDENT/CEO
Officer
40$1,151,218$71,749
JENNIFER LEESVP/CFAO
Officer
40$552,486$68,411
FRED GOMESSVP
Officer
40$446,079$29,260
GANESH RAGHAVANVP, NETWORK INFRASTRUCTURE & SECURITY
Key employee
40$383,853$49,445
JOHN HAGGARTYVP, MARKETING
Key employee
40$343,962$85,421
JOHN PAUL REILLYVP, BS&O
Key employee
40$335,952$84,361
GREG KENT MCCURDYVP, LENDING
Key employee
40$359,661$54,436
ERIC CARDONAVP, IT DEV OPS AND SUPPORT
Key employee
40$303,176$55,954
SHALINI SAHDEO NARAYANVP, SERVICE QUALITY
Key employee
40$293,115$47,420
PAUL SHEAVP, HUMAN RESOURCES
Key employee
40$257,113$70,078
MOHAMAD A SANGABISR. MORTGAGE CONS.
Highest-paid employee
40$249,953$42,120
JANELLE HUYNHVP, FINANCE
Key employee
40$229,894$50,939
CHRISTINE M KEANEVP, RISK MANAGEMENT
Key employee
40$223,062$43,500
FATEMEH ASAD SANGABISR. MORTGAGE CONS.
Highest-paid employee
40$185,857$39,727
DAVID HERRERA JRSR. MORTGAGE CONS.
Highest-paid employee
40$151,097$20,895
16 more people on this return
NameTitleHours / weekCompensationOther / benefits
PHUONG PATRICIA JACOBSMORTGAGE COUNSELOR I
Highest-paid employee
40$148,894$10,490
NORMAN WHITEMANSR. MORTGAGE CONS.
Highest-paid employee
40$125,750$22,137
JUNE ROTHECHAIRMAN
Trustee or director
2$0$0
SAMUEL JOHNSON JRVICE CHAIRMAN
Trustee or director
2$0$0
CHRISTINE BOLANDSECRETARY
Trustee or director
2$0$0
DAVID BUCKMASTERTREASURER
Trustee or director
2$0$0
DAVID PELZNERBOARD MEMBER
Trustee or director
2$0$0
SCOTT O'BRIENBOARD MEMBER
Trustee or director
2$0$0
BOB LANZONEBOARD MEMBER
Trustee or director
2$0$0
GEORGE DESCALSOBOARD MEMBER
Trustee or director
2$0$0
ANDREA KENTERBOARD MEMBER
Trustee or director
2$0$0
SCOTT MCWHIRTERSUPV CMTE CHAIR
Trustee or director
2$0$0
ROSANNE FOUSTSUPV CMTE MEMBER
Trustee or director
2$0$0
KENNETH RUBAYSUPV CMTE MEMBER
Trustee or director
2$0$0
GREGORY TESHARASUPV CMTE MEMBER
Trustee or director
2$0$0
TODD MCCORMACKSUPV CMTE MEMBER
Trustee or director
2$0$0
990 for the year ended December 31, 2023: 31 people
NameTitleHours / weekCompensationOther / benefits
JAMES ERNESTPRESIDENT/CEO
Officer
40$1,091,519$67,459
HEIDI PARKSSVP
Officer
40$611,641$37,045
JENNIFER LEESVP/CFAO
Officer
40$507,184$57,481
FRED GOMESSVP
Officer
40$386,877$68,688
CONNIE K FINCHVP, SYSTEMS & TECH
Key employee
40$406,496$34,167
JOHN HAGGARTYVP, MARKETING
Key employee
40$336,680$80,217
GREG KENT MCCURDYVP, LENDING
Key employee
40$345,282$51,070
JOHN PAUL REILLYVP, BS&O
Key employee
40$324,647$70,870
SHALINI SAHDEO NARAYANVP, SERVICE QUALITY
Key employee
40$316,510$74,290
MOHAMAD A SANGABISR. MORTGAGE CONS.
Highest-paid employee
40$339,661$43,710
GANESH RAGHAVANVP,NETWORK INFRASTRUCTURE & SECURITY
Key employee
40$319,854$46,698
PAUL SHEAVP, HUMAN RESOURCES
Key employee
40$247,618$65,954
ROBERT BERNARD KETTMANNMORTGAGE PRODUCTION SALES MANAGER
Highest-paid employee
40$268,537$26,012
CHRISTINE M KEANEVP, RISK MANAGEMENT
Key employee
40$230,405$39,844
JANELLE HUYNHVP, FINANCE
Key employee
40$215,722$43,705
LAN FIGUEROASR. MORTGAGE CONS.
Highest-paid employee
40$208,305$33,386
PHUONG PATRICIA JACOBSMORTGAGE COUNSELOR I
Highest-paid employee
40$207,278$13,411
FATEMEH ASAD SANGABISR. MORTGAGE CONS.
Highest-paid employee
40$166,562$44,385
JUNE ROTHECHAIRMAN
Trustee or director
2$0$0
SAMUEL JOHNSON JRVICE CHAIRMAN
Trustee or director
2$0$0
CHRISTINE BOLANDSECRETARY
Trustee or director
2$0$0
DAVID BUCKMASTERTREASURER
Trustee or director
2$0$0
DAVID PELZNERBOARD MEMBER
Trustee or director
2$0$0
SCOTT O'BRIENBOARD MEMBER
Trustee or director
2$0$0
BOB LANZONEBOARD MEMBER
Trustee or director
2$0$0
GEORGE DESCALSOBOARD MEMBER
Trustee or director
2$0$0
ANDREA KENTERBOARD MEMBER
Trustee or director
2$0$0
SCOTT MCWHIRTERSUPV CMTE CHAIR
Trustee or director
2$0$0
ROSANNE FOUSTSUPV CMTE MEMBER
Trustee or director
2$0$0
KENNETH RUBAYSUPV CMTE MEMBER
Trustee or director
2$0$0
GREGORY TESHARASUPV CMTE MEMBER
Trustee or director
2$0$0

Address and contacts

Address (IRS master file)
303 TWIN DOLPHIN DR, REDWOOD CITY, CA 94065-1497
Principal officer (990 for 2024)
JAMES L ERNEST, 303 TWIN DOLPHIN DRIVE, REDWOOD CITY, CA 94065
Signed the 990
JENNIFER LEE, SVP/CFAO
Phone
(650) 508-0300
Return prepared by
TURNER WARREN HWANG & CONRAD ACCTCY

California records

California keeps its own records of charities and corporations. Search them by EIN 94-1482957 or by the name PROVIDENT CREDIT UNION.

Attorney General, Registry of Charities and Fundraisers
Registration status and filed reports (CT-TR-1, RRF-1)

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, PROVIDENT CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDENT OFFERS A SUPER REWARDS CHECKING ACCOUNT WHICH PAYS MEMBERS HIGH RATES ON THEIR CHECKING ACCOUNTS IF THEY QUALIFY BY MAKING $400 IN PURCHASES USING THEIR DEBIT OR CREDIT CARD PER MONTH, HAVING DIRECT DEPOSIT OR BILL PAY EACH MONTH, AND RECEIVING AN E-STATEMENT INSTEAD OF A PAPER ONE. THIS ACCOUNT ACCRUES FINANCIAL BENEFITS TO MEMBERS AND SUPPORTS ENVIRONMENTALLY FRIENDLY BEHAVIOR BY ENCOURAGING VIRTUAL TRANSACTIONS VERSUS PAPER CHECKS, ELIMINATING PAPER AND MAILING COSTS FOR STATEMENTS, AND INCREASING ACCOUNT SECURITY FOR MEMBERS BY ELIMINATING VULNERABILITY TO IDENTITY THEFT THROUGH STOLEN MAILED STATEMENTS.
  • PROVIDENT'S MOVABLE MORTGAGE ALLOWS A MEMBER TO TRANSFER THE CURRENT RATE AND TERMS (BALANCE AT PAY-OFF, MARGIN, ETC.) OF THEIR EXISTING PCU HOME LOAN TO THEIR NEW HOME PURCHASE. IF BUYING UP AND THE MEMBER NEEDED MORE THAN THE EXISTING BALANCE TO COMPLETE THE PURCHASE, PROVIDENT WOULD BLEND THE TERMS OF THEIR EXISTING MORTGAGE WITH RATES AND TERMS CURRENTLY OFFERED ON OUR RATE SHEET FOR ANY SHORTAGE IN LOAN AMOUNT. TYPICALLY USED IN A RISING RATE ENVIRONMENT, THE NET EFFECT WOULD BE A LOWER RATE TO THE MEMBER.
  • PROVIDENT HAS A PROGRAM TO MODIFY RATES ON CERTAIN PORTFOLIO MORTGAGE LOANS ALLOWING MEMBERS TO BENEFIT FROM RATE DROPS WITHOUT GOING THROUGH A COMPLETE REFINANCE PROCESS.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
94-1482957
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1961
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$3,546,468,170
Income (IRS master file)
$163,835,556

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$163,813,640$160,494,045$3,546,468,170IRS
990December 2023$145,149,155$137,818,872$3,497,380,170XML
990December 2022$112,950,041$107,810,551$3,510,687,147IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 94-1482957).

Questions about PROVIDENT CREDIT UNION

What is the EIN of PROVIDENT CREDIT UNION?
The employer identification number (EIN) of PROVIDENT CREDIT UNION is 94-1482957.
Is PROVIDENT CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1961.
Are donations to PROVIDENT CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does PROVIDENT CREDIT UNION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of PROVIDENT CREDIT UNION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PROVIDENT CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of PROVIDENT CREDIT UNION?
The 990 for the year ended December 31, 2024 names JAMES L ERNEST.
Who are the officers and directors of PROVIDENT CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 31 people; 17 received compensation from the organization, the highest $1,151,218 (JAMES ERNEST, PRESIDENT/CEO).
How much revenue does PROVIDENT CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $163,813,640, expenses of $160,494,045 and total assets of $3,546,468,170 at year end.

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