Civic Intelligence

My Credit Union

990 • Fiscal year 2020 • EIN 94-6092012

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization Profilewww.mycuonline.org

View Organization Page

PO Box 5824Redwood City, CA 94063

(650) 366-5522

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

0.93x

Higher debt load relative to assets than 94% of similar nonprofits.

2020 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

72nd percentile

25.21x

Higher debt load relative to revenue than 72% of similar nonprofits.

2020 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2020

Net Margin

3rd percentile

-16%

Higher net margin than 3% of similar nonprofits.

2020 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

75th percentile

$132,601

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 10.6% of source-year revenue.

2020 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2020

Asset Growth

9th percentile

6.5%

Faster asset growth than 9% of similar nonprofits.

2020 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

28th percentile

-9.1%

Faster revenue growth than 28% of similar nonprofits.

2020 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$34,108,303

Up $2,091,159 (+6.5%) from 2019

Net Assets

Down

$2,555,422

Down $194,075 (-7.1%) from 2019

Liabilities

Up

$31,552,881

Up $2,285,234 (+7.8%) from 2019

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin3rd percentile

Revenue

Down

$1,251,369

Down $125,424 (-9.1%) from 2019

Expenses

Up

$1,445,444

Up $40,300 (+2.9%) from 2019

Net Income

Down

-$194,075

Down $165,724 (-585%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2010: $34,516,762Liabilities 2010: $31,285,816Net Assets 2010: $3,230,9462010Assets 2011: $34,950,050Liabilities 2011: $31,798,830Net Assets 2011: $3,151,2202011Assets 2012: $34,465,385Liabilities 2012: $31,378,844Net Assets 2012: $3,086,5412012Assets 2013: $35,137,297Liabilities 2013: $32,273,669Net Assets 2013: $2,863,6282013Assets 2014: $34,221,802Liabilities 2014: $31,400,385Net Assets 2014: $2,821,4172014Assets 2015: $33,529,720Liabilities 2015: $30,737,125Net Assets 2015: $2,792,5952015Assets 2016: $34,030,919Liabilities 2016: $31,236,907Net Assets 2016: $2,794,0122016Assets 2017: $34,301,255Liabilities 2017: $31,555,142Net Assets 2017: $2,746,1132017Assets 2018: $32,158,613Liabilities 2018: $29,380,765Net Assets 2018: $2,777,8482018Assets 2019: $32,017,144Liabilities 2019: $29,267,647Net Assets 2019: $2,749,4972019Assets 2020: $34,108,303Liabilities 2020: $31,552,881Net Assets 2020: $2,555,4222020

Highlighted filing

2020

Assets$34,108,303
Liabilities$31,552,881
Net Assets$2,555,422
Open 2020 Filing

Operations Trend

Revenue Growth28th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,737,6592010Expenses 2011: $1,629,9832011Expenses 2012: $1,457,8822012Revenue 2013: $1,179,778Expenses 2013: $1,402,646Net Income 2013: -$222,8682013Revenue 2014: $1,217,294Expenses 2014: $1,259,505Net Income 2014: -$42,2112014Revenue 2015: $1,263,470Expenses 2015: $1,292,292Net Income 2015: -$28,8222015Revenue 2016: $1,339,298Expenses 2016: $1,337,881Net Income 2016: $1,4172016Revenue 2017: $1,366,172Expenses 2017: $1,414,071Net Income 2017: -$47,8992017Revenue 2018: $1,414,308Expenses 2018: $1,382,573Net Income 2018: $31,7352018Revenue 2019: $1,376,793Expenses 2019: $1,405,144Net Income 2019: -$28,3512019Revenue 2020: $1,251,369Expenses 2020: $1,445,444Net Income 2020: -$194,0752020

Highlighted filing

2020

Revenue$1,251,369
Expenses$1,445,444
Net Income-$194,075
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$1,251,369
Mission and Program Overview

Mission

Non-profit, State-chartered, Natural Person Credit Union. Provide competitive financial services to 2,231 members of My Credit Union.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$19,926,636$21,350,088▲ $1,423,452
Investments Program Related$8,861,570$8,803,570▼ $58,000
Savings and Temporary Cash Investments$1,808,879$2,802,785▲ $993,906
Rtn Earn Endowment Incm Other Fnds$2,749,497$2,555,422▼ $194,075
Receivables From Officers Etc$434,488$0▼ $434,488
Cash and Non-Interest-Bearing Accounts$171,015$224,818▲ $53,803
Land, Buildings, and Equipment, Net$120,985$73,725▼ $47,260
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$32,017,144$34,108,303▲ $2,091,159
Other Assets Total$693,571$853,317▲ $159,746
Liabilities
Other Liabilities$29,116,836$31,459,817▲ $2,342,981
Accounts Payable and Accrued Expenses$150,811$93,064▼ $57,747
Total Liabilities$29,267,647$31,552,881▲ $2,285,234
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,749,497$2,555,422▼ $194,075
Total Liabilities and Net Assets / Fund Balance$32,017,144$34,108,303▲ $2,091,159

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$46,676$382,977$429,653
Other Land Buildings$9,423$195,366$204,789
Equipment$17,626$48,275$65,901
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alex CasillasPresident & CEOFT$130,000$2,601$132,601

Board Members and Trustees

NameTitle
Richard OstillerBoard Chairman
Charles StimlerBoard Member
Christopher MirovBoard member
Douglas AguileraBoard Member
Kevin CaudillBoard Member
Fred DiazCEO (former)
Dawna HorsleySC member
Jon MosbySC Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$873,123
Investment Income
$175,091
Other Revenue
$203,155
Change in Net Assets
$-194,075
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$919,721
Salaries, Compensation, and Employee Benefits$519,203
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$386,602
Office Expenses---$270,959
Occupancy---$182,217
Fees for Services Other---$154,299
Current Officers, Directors, Trustees, and Key Employees---$132,601
Other Expenses---$7,325
Benefits to Members---$6,520
Travel---$4,663
Advertising---$3,171
Interest---$1,424
Total Functional Expenses$0$0$0$1,445,444
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$434,488$0▼ $434,488
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$13,010,182
Share Drafts$10,856,066
Money market$4,141,459
Share Certificates$1,981,760
IRA/KEOGH Accounts$1,470,350
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Most members reside, work, or worship in San Mateo County in Northern California oremployees of qualified Selected Employee Groups and their qualifying family members.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members are entitled to vote in the annual elections of the Board of Directors and on other corporate matters.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Members are entitled to vote in the annual elections of the Board of Directors and on other corporate matters.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The return preparer e-mails a draft of the form 990 to a designated officer and/or ceo of the credit union for review. The designated officer and/or ceo sends a copy to the board of director (s). The designated individual(s) review the draft and present any questions, comments, or corrections to the return preparer. Upon satisfactory completion of the form 990, the organization's authorized individual signs the appropriate signature form(s) to authorize the electronic filing of the return. A copy of the form 990, as filed, is provided by the return preparer to theorganization's ceo or other designated individual(s).”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The process for determining compensation of the CEO and CFO includes the review and approval by the Board and is determined using comparable compensation data.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The process for determining compensation of the CEO and CFO includes the review and approval by the Board and is determined using comparable compensation data.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents and related policies are available upon request; financials and other information are available at NCUA website.”

Filing and Contact Details

Filer

Filer Name
My Credit Union
EIN
94-6092012
Phone
6503665522
Address
PO Box 5824, Redwood City, CA 94063

Signing Officer

Name
Alex Casillas
Title
President/ECO
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alex Casillas
Formed
1963
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
7

Preparer

Firm
Richards & Associates
Address
21520 YORBA LINDA BLVD G-516, YORBA LINDA, CA 92887
Preparer
Richards Associates CPAs
Phone
7142876713
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt048275
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt065901
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0382977
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0429653
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09423
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0195366
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0204789
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Money market
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Regular Shares
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Share Certificates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Share Drafts
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IRS990ScheduleD/TotalLiabilityAmt031459817
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Most members reside, work, or worship in San Mateo County in Northern California oremployees of qualified Selected Employee Groups and their qualifying family members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members are entitled to vote in the annual elections of the Board of Directors and on other corporate matters.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Members are entitled to vote in the annual elections of the Board of Directors and on other corporate matters.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE RETURN PREPARER E-MAILS A DRAFT OF THE FORM 990 TO A DESIGNATED OFFICER AND/OR CEO OF THE CREDIT UNION FOR REVIEW. THE DESIGNATED OFFICER AND/OR CEO SENDS A COPY TO THE BOARD OF DIRECTOR (S). THE DESIGNATED INDIVIDUAL(S) REVIEW THE DRAFT AND PRESENT ANY QUESTIONS, COMMENTS, OR CORRECTIONS TO THE RETURN PREPARER. UPON SATISFACTORY COMPLETION OF THE FORM 990, THE ORGANIZATION'S AUTHORIZED INDIVIDUAL SIGNS THE APPROPRIATE SIGNATURE FORM(S) TO AUTHORIZE THE ELECTRONIC FILING OF THE RETURN. A COPY OF THE FORM 990, AS FILED, IS PROVIDED BY THE RETURN PREPARER TO THEORGANIZATION'S CEO OR OTHER DESIGNATED INDIVIDUAL(S).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The process for determining compensation of the CEO and CFO includes the review and approval by the Board and is determined using comparable compensation data.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The process for determining compensation of the CEO and CFO includes the review and approval by the Board and is determined using comparable compensation data.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Governing documents and related policies are available upon request; financials and other information are available at NCUA website.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxablePartyNotificationInd0false
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0Redwood City
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd0940630824
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.mycuonline.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ALEX CASILLAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President/ECO
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0My Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0MYCR
ReturnHeader/Filer/EIN0946092012
ReturnHeader/Filer/PhoneNum06503665522
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 5824
ReturnHeader/Filer/USAddress/CityNm0Redwood City
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094063
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RICHARDS & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt021520 YORBA LINDA BLVD G-516
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0YORBA LINDA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092887
ReturnHeader/PreparerPersonGrp/PhoneNum07142876713
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Richards Associates CPAs
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-15T11:48:04-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALEX
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CASILLAS
ReturnHeader/TaxPeriodBeginDt02020-01-01

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$34,108,303
Liabilities
$31,552,881
Net assets
$2,555,422
Revenue
$1,251,369
Expenses
$1,445,444
Net income
-$194,075
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$34.1$31.6$2.56$1.25$1.45$0.19
2019Detailed filing. Detailed filing data is available for this year.$32.0$29.3$2.75$1.38$1.41$0.03
2018Detailed filing. Detailed filing data is available for this year.$32.2$29.4$2.78$1.41$1.38$0.03
2017Detailed filing. Detailed filing data is available for this year.$34.3$31.6$2.75$1.37$1.41$0.05
2016Detailed filing. Detailed filing data is available for this year.$34.0$31.2$2.79$1.34$1.34$0.00
2015Detailed filing. Detailed filing data is available for this year.$33.5$30.7$2.79$1.26$1.29$0.03
2014Detailed filing. Detailed filing data is available for this year.$34.2$31.4$2.82$1.22$1.26$0.04
2013Detailed filing. Detailed filing data is available for this year.$35.1$32.3$2.86$1.18$1.40$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.5$31.4$3.09$1.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.0$31.8$3.15$1.63
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.5$31.3$3.23$1.74