Program areas at Wescom Credit Union
The Credit Union had $5.6 billion in assets, $3 billion in loans and $4.38 billion in member deposits as of december 31, 2022. The Credit Union posted net earnings of $57 million in 2022.
The Credit Union through its employees, members, and Wescom foundation supported community outreach throughout 2022. $100,000+ donated to the southern california-based food banks. $214,000 donated to humanitarian relief efforts in ukraine. $236,435 donated to uplifting at-risk youth, providing crisis shelter for victims of domestic violence and eradicating devastating diseases. $28,000 donated to tutoring scholarships. Foundation focus areas shifted to disaster response, critical human needs, and financial wellness.
The Credit Union's 2022 initiatives included membership growth, enhancing products and services, increased service in our communities, developments in delivery channels, and loan growth.
Grants made by Wescom Credit Union
Personnel at Wescom Credit Union
| Name | Title | Compensation | Date of data |
|---|
| Darren Williams | President and Chief Executive Officer | $1,283,603 | 2022-12-31 |
| Irving Chiu Heng Yu | Senior Vice President Finance and Chief Financial Officer / Vice President Treasury | $455,789 | 2022-12-31 |
| Joseph Pellissery | Senior Vice President Technology and Chief Information Officer | $517,140 | 2022-12-31 |
| Cindy Law | Vice President and Controller | $304,838 | 2023-11-09 |
| Alexander Munro | Vice President Information Technology | $296,003 | 2022-12-31 |
| ...and 25 more key personnel |
Financials for Wescom Credit Union
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | - |
| Program services | $176,591,593 | $140,434,771 | 25.7% |
| Investment income and dividends | $63,906,268 | $31,290,666 | 104.2% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $47,497,122 | $29,139,910 | 63% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $3,000,000 | $6,800,000 | -55.9% |
| Total revenues | $290,994,983 | $207,665,347 | 40.1% |
Organizations like Wescom Credit Union
| Organization | Type | Location | Revenue |
|---|
| Educational Employees Credit Union | 501(c)(14) | Fresno, CA | $167,213,088 |
| Schools Financial Credit Union | 501(c)(14) | Sacramento, CA | $101,261,825 |
| Financial Partners Credit Union | 501(c)(14) | Downey, CA | $83,728,887 |
| Credit Union of Southern California | 501(c)(14) | Anaheim, CA | $120,210,205 |
| Redwood Credit Union | 501(c)(14) | Santa Rosa, CA | $304,586,101 |
| Altura Credit Union | 501(c)(14) | Riverside, CA | $117,960,253 |
| California Credit Union | 501(c)(14) | Glendale, CA | $152,708,557 |
| Star One Credit Union | 501(c)(14) | Sunnyvale, CA | $255,066,926 |
| Arrowhead Credit Union | 501(c)(14) | Rancho Cucamonga, CA | $102,317,660 |
| San Diego County Credit Union (SDCCU) | 501(c)(14) | San Diego, CA | $329,477,426 |
Data update history
January 23, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 23, 2024
Updated personnel
Identified 2 new personnel
January 3, 2024
Used new vendors
Identified 3 new vendors, including , , and
July 16, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 9, 2023
Used new vendors
Identified 10 new vendors, including , , , , , , , , , and
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
State / local level
General information
- Address
- 123 S Marengo Ave
- Pasadena, CA 91101
- Metro area
- Los Angeles-Long Beach-Anaheim, CA
- Website URL
- wescom.org/Â
- Phone
- (888) 493-7266
IRS details
- EIN
- 95-1288265
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1934
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- W60: Financial Institutions, Credit Unions
- NAICS code, primary
- 522130: Credit Unions
- Parent/child status
- Child within group exemption
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