Nonprofit · EIN 95-1644568
CREDIT UNIONS IN THE STATE OF CALIFORNIA
Also known as LBS FINANCIAL CREDIT UNION
Tax-exempt · WESTMINSTER, CA 92683
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $91,952,473 | $83,243,687 | $8,708,786 | $2,043,255,241 | $1,770,916,556 | $272,338,685 |
| December 31, 2023 | 990 | $79,427,970 | $65,021,225 | $14,406,745 | $1,969,993,549 | $1,708,052,192 | $261,941,357 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $69,066,571
- Investment income
- $22,790,410
- Net rental income
- $95,492
- Other revenue
- $95,492
Expenses
- Grants and similar amounts paid
- $83,444
- Compensation of officers, directors and key employees
- $3,777,006
- Other salaries and wages
- $14,697,553
- Salaries, compensation and benefits (total)
- $24,278,404
- Professional fundraising fees
- $0
- Legal fees
- $814,168
- Accounting fees
- $144,712
- Occupancy
- $1,828,704
- Travel
- $192,802
- Depreciation
- $1,255,689
Balance sheet and other
- Total assets, start of year
- $1,969,993,549
- Total assets, end of year
- $2,043,255,241
- Total liabilities, end of year
- $1,770,916,556
- Net assets, end of year
- $272,338,685
- Land, buildings and equipment
- $3,748,202
- Gross unrelated business income
- $1,093,001
- Gross receipts
- $91,952,473
- Employees
- 300
- Volunteers
- 10
- Year formed
- 1935
- 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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SEAN HARDEMAN | PRESIDENT/CEO Officer | 40 | $709,885 | $36,198 |
| SUSAN WIGHT | S.V.P./CFO Officer | 40 | $360,138 | $14,465 |
| KEVIN REED | S.V.P./INFORMATION SYSTEMS Key employee | 40 | $331,066 | $32,175 |
| JEFFREY WILLIAM NIEDENTHAL | S.V.P./CHIEF EXPERIENCE & ENGAGEMENT OFFICER Officer | 40 | $301,674 | $18,823 |
| HEATHER SUMMERS | S.V.P./MARKETING Key employee | 40 | $295,592 | $12,313 |
| JILL MARIE DENIRO | S.V.P./HUMAN RESOURCES Key employee | 40 | $269,847 | $23,524 |
| THOMAS E ORMAN | S.V.P./CHIEF LENDING OFFICER Officer | 40 | $248,400 | $26,648 |
| ALFRED PARENT | V.P./COLLECTIONS Highest-paid employee | 40 | $227,236 | $18,822 |
| CHRISTINE WU-LIN BASS | S.V.P./MEMBER SERVICES Key employee | 40 | $196,468 | $25,779 |
| ZUNG-SHANG LIANG | V.P./INTERNAL AUDIT Highest-paid employee | 40 | $193,929 | $12,065 |
| COURTNEY HIGUCHI | V.P./LOAN ADMINISTRATION Highest-paid employee | 40 | $161,022 | $18,822 |
| ALVA SARGEANT | V.P./RESIDENTIAL LENDING Highest-paid employee | 40 | $158,808 | $17,844 |
| THOMAS CHRISTOPHER DOUBLET | INFORMATION SYSTEMS SUPPORT MANAGER Highest-paid employee | 40 | $156,063 | $8,963 |
| JEFFREY ALLEN NAPPER | PRESIDENT/CEO Former | 0 | $165,021 | $0 |
| ALAN RAY | SUPV CMTE MEMBER Trustee or director | 1 | $1,857 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAY CAMERINO | BOARD CHAIR Trustee or director | 1 | $0 |
| LARRY NATIVIDAD | VICE CHAIR Trustee or director | 1 | $0 |
| JOHN FYLPAA | SECRETARY/TREASURER Trustee or director | 1 | $0 |
| SATINDER HAWKINS | BOARD MEMBER Trustee or director | 1 | $0 |
| PAMELA SEKI | BOARD MEMBER Trustee or director | 1 | $0 |
| LUTHER WILLIAMS | BOARD MEMBER Trustee or director | 1 | $0 |
| NARIN KHY-LY | BOARD MEMBER Trustee or director | 1 | $0 |
| DAVID CONRAD | SUPV CMTE CHAIR Trustee or director | 1 | $0 |
| MARK ALDRICH | SUPV CMTE MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JEFFREY ALLEN NAPPER FORMER | PRESIDENT/CEO Officer | 40 | $953,228 | $12,366 |
| SEAN HARDEMAN | PRESIDENT/CEO Officer | 40 | $548,025 | $28,460 |
| SUSAN WIGHT | S.V.P./CFO Officer | 40 | $355,066 | $11,887 |
| KEVIN REED | S.V.P./INFORMATION SYSTEMS Key employee | 40 | $326,913 | $28,460 |
| HEATHER SUMMERS | S.V.P./MARKETING Key employee | 40 | $294,562 | $9,624 |
| JEFFREY WILLIAM NIEDENTHAL | S.V.P/MEMBER SERVICES Key employee | 40 | $272,895 | $17,255 |
| JILL MARIE DENIRO | S.V.P./HUMAN RESOURCES Key employee | 40 | $247,432 | $18,025 |
| ALFRED PARENT | V.P./COLLECTIONS Highest-paid employee | 40 | $220,935 | $17,255 |
| ZUNG-SHANG LIANG | V.P./INTERNAL AUDIT Highest-paid employee | 40 | $188,151 | $9,487 |
| CHRISTINE WU-LIN BASS | V.P./BRANCH OPERATIONS Highest-paid employee | 40 | $165,172 | $25,876 |
| SARGEANT ALVA | V.P./RESIDENTIAL LENDING Highest-paid employee | 40 | $150,921 | $24,646 |
| COURTNEY HIGUCHI | V.P./LOAN ADMINISTRATION Highest-paid employee | 40 | $153,735 | $17,255 |
| JILL BAKER | BOARD CHAIR Trustee or director | 2 | $0 | $0 |
| JAY CAMERINO | VICE CHAIR Trustee or director | 2 | $0 | $0 |
| JOHN FYLPAA | SECRETARY/TREASURER Trustee or director | 2 | $0 | $0 |
| SATINDER HAWKINS | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| PAMELA SEKI | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| LUTHER WILLIAMS | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| LARRY NATIVIDAD | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| DAVID CONRAD | SUPV CMTE CHAIR Trustee or director | 2 | $0 | $0 |
| MARK ALDRICH | SUPV CMTE MEMBER Trustee or director | 2 | $0 | $0 |
| ALAN RAY | SUPV CMTE MEMBER Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 5505 GARDEN GROVE BLVD, WESTMINSTER, CA 92683-1892
- Principal officer (990 for 2024)
- SEAN HARDEMAN, 5505 GARDEN GROVE BLVD, WESTMINSTER, CA 92683
- Signed the 990
- SUSAN M WIGHT, SVP/CFO
- Phone
- (714) 893-5111
- Website
- WWW.LBSFCU.ORG
- Return prepared by
- TURNER WARREN HWANG & CONRAD ACCTCY
California records
California keeps its own records of charities and corporations. Search them by EIN 95-1644568 or by the name CREDIT UNIONS IN THE STATE OF CALIFORNIA.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
LBS FINANCIAL CREDIT UNION IS 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, LBS FINANCIAL 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 BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
Program accomplishments
- PROVIDING LENDING SERVICES TO OUR MEMBER-OWNERS AT MORE ATTRACTIVE RATES WITH LOWER FEES. THE LENDING PRODUCTS OFFERED INCLUDE: HOME LOANS, HOME EQUITY LOANS, AUTO LOANS, MOTORCYCLE LOANS, VISA CREDIT CARDS, PERSONAL LOANS, BOAT LOANS, AND RV LOANS.
- PROVIDING DEPOSIT SERVICES FOR OUR MEMBER-OWNERS WITH LOWER FEES AND ATTRACTIVE RATES. THE DEPOSIT SERVICES INCLUDE: CHECKING ACCOUNTS, SHARE SAVINGS, MONEY MARKET ACCOUNTS, SHARE CERTIFICATES OF DEPOSIT, IRAS, SPECIAL OCCASION CLUB ACCOUNTS, AND SUMMER SAVINGS PLANS.
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 95-1644568
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1979
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W61)
- Group exemption
- 1526: CREDIT UNIONS IN THE STATE OF CALIFORNIA
- Assets (IRS master file)
- $2,043,255,241
- Income (IRS master file)
- $91,952,473
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $91,952,473 | $83,243,687 | $2,043,255,241 | IRS |
| 990 | December 2023 | $79,427,970 | $65,021,225 | $1,969,993,549 | XML |
| 990 | December 2022 | $64,266,960 | $46,656,926 | $2,012,780,174 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 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 95-1644568).
Questions about CREDIT UNIONS IN THE STATE OF CALIFORNIA
- What is the EIN of CREDIT UNIONS IN THE STATE OF CALIFORNIA?
- The employer identification number (EIN) of CREDIT UNIONS IN THE STATE OF CALIFORNIA is 95-1644568.
- Is CREDIT UNIONS IN THE STATE OF CALIFORNIA tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1979.
- Are donations to CREDIT UNIONS IN THE STATE OF CALIFORNIA tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CREDIT UNIONS IN THE STATE OF CALIFORNIA 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 CREDIT UNIONS IN THE STATE OF CALIFORNIA 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 CREDIT UNIONS IN THE STATE OF CALIFORNIA 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 CREDIT UNIONS IN THE STATE OF CALIFORNIA?
- The 990 for the year ended December 31, 2024 names SEAN HARDEMAN.
- Who are the officers and directors of CREDIT UNIONS IN THE STATE OF CALIFORNIA?
- The 990 for the year ended December 31, 2024 lists 24 people; 15 received compensation from the organization, the highest $709,885 (SEAN HARDEMAN, PRESIDENT/CEO).
- How much revenue does CREDIT UNIONS IN THE STATE OF CALIFORNIA have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $91,952,473, expenses of $83,243,687 and total assets of $2,043,255,241 at year end.
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