Nonprofit · EIN 94-1439553
CREDIT UNIONS IN THE STATE OF CALIFORNIA
Also known as VALLEY FIRST CREDIT UNION
Tax-exempt · MODESTO, CA 95350
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $63,347,544 | $58,535,460 | $4,812,084 | $1,027,273,852 | $936,329,209 | $90,944,643 |
| December 31, 2023 | 990 | $57,186,497 | $47,771,769 | $9,414,728 | $1,019,297,447 | $935,538,521 | $83,758,926 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,025,791
- of which government grants
- $2,025,791
- Program service revenue
- $53,024,731
- Investment income
- $8,297,022
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $163,667
- Compensation of officers, directors and key employees
- $2,758,888
- Other salaries and wages
- $9,667,634
- Salaries, compensation and benefits (total)
- $16,520,251
- Professional fundraising fees
- $0
- Legal fees
- $137,987
- Accounting fees
- $448,756
- Occupancy
- $1,831,447
- Travel
- $295,438
- Depreciation
- $2,667,314
Balance sheet and other
- Total assets, start of year
- $1,019,297,447
- Total assets, end of year
- $1,027,273,852
- Total liabilities, end of year
- $936,329,209
- Net assets, end of year
- $90,944,643
- Land, buildings and equipment
- $13,351,070
- Gross unrelated business income
- $243,041
- Gross receipts
- $63,347,544
- Employees
- 209
- Volunteers
- 12
- Year formed
- 1949
- 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 |
|---|---|---|---|---|
| KATHRYN DAVIS | PRESIDENT & CEO Officer | 60 | $710,897 | $65,103 |
| PAUL EMANUELS | FORMER VP, LENDING Key employee | 40 | $323,257 | $15,225 |
| ANDREA BROOKS | CHIEF RISK OFFICER Key employee | 50 | $252,713 | $39,995 |
| CHRIS HEWITT | VP, OPS & DIGITAL STRATEGY Key employee | 40 | $210,863 | $37,089 |
| CHRISTOPHER BRAUN | VP, PAYMENTS Key employee | 40 | $217,449 | $10,526 |
| BETINO MARCELO | CHEIF LENDING OFFICER Key employee | 50 | $202,017 | $23,645 |
| RAYMOND MCCASLIN | FORMER VP, COMMERCIAL BANKING Highest-paid employee | 45 | $189,206 | $30,838 |
| COURTNAY LYNCH | VP, PEOPLE & CULTURE Key employee | 50 | $186,398 | $24,932 |
| BYRON MILLER | FORMER VP, TECHNOLOGY Key employee | 40 | $175,761 | $34,251 |
| LINDSAY SANSEN | DIRECTOR, MARKETING Highest-paid employee | 45 | $139,594 | $36,570 |
| CHARLES CIAPPONI | DIRECTOR, COMPLIANCE Highest-paid employee | 45 | $134,346 | $28,813 |
| JANE LUNN | DIRECTOR, TALENT DEVELOPMENT Highest-paid employee | 45 | $119,074 | $28,814 |
| VALARIE ROBERTS-ALLEN | DIRECTOR, DISPUTE OPERATIONS Highest-paid employee | 45 | $117,528 | $8,880 |
| TODD MCCOY | FORMER CHIEF FINANCIAL OFFICER Officer | 40 | $106,598 | $15,879 |
| MARY ROBERTS | CHIEF FINANCIAL OFFICER Officer | 50 | $97,525 | $8,766 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FRED CRUZ | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| PATTI GILLIHAN | SECRETARY AND TREASURER Trustee or director, Officer | 2 | $0 |
| GARY HALL | DIRECTOR Trustee or director | 1 | $0 |
| TOM KANE | FORMER DIRECTOR Trustee or director | 2 | $0 |
| CHRIS PETERSON | CHAIR Trustee or director, Officer | 2 | $0 |
| DONNA RILEY | DIRECTOR Trustee or director | 2 | $0 |
| JOHN SCHNEIDER | DIRECTOR Trustee or director | 2 | $0 |
| TAMRA SPADE | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KATHRYN DAVIS | PRESIDENT & CEO Officer | 50 | $661,885 | $62,421 |
| CHRIS BRAUN | VP, PAYMENTS Highest-paid employee | 45 | $211,274 | $42,876 |
| CHRIS HEWITT | VP, OPS & DIGITAL STRATEGY Key employee | 45 | $212,041 | $38,927 |
| TODD MCCOY | CHIEF FINANCIAL OFFICER Officer | 45 | $212,464 | $33,554 |
| BYRON MILLER | VP, TECHNOLOGY Highest-paid employee | 45 | $206,014 | $32,710 |
| ANDREA BROOKS | CHIEF RISK OFFICER Highest-paid employee | 50 | $197,619 | $33,152 |
| PAUL EMANUELS | VP, LENDING Key employee | 45 | $195,993 | $18,990 |
| COURTNAY LYNCH | VP, PEOPLE & CULTURE Key employee | 50 | $176,756 | $32,949 |
| RAYMOND MCCASLIN | VP, COMMERCIAL BANKING Highest-paid employee | 45 | $172,829 | $31,265 |
| UNJI FROMMOETHELYDO | SR NETWORK ENGINEER Highest-paid employee | 40 | $130,179 | $15,570 |
| FRED CRUZ | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| PATTI GILLIHAN | SECRETARY AND TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| GARY HALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM KANE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHRIS PETERSON | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| JOHN SCHNEIDER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| TAMRA SPADE | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1005 W ORANGEBURG AVE, MODESTO, CA 95350-4139
- Principal officer (990 for 2024)
- KATHRYN DAVIS, 1005 W ORANGEBURG AVENUE, MODESTO, CA 95356
- Signed the 990
- CHARLENE ALMERIA, CHIEF FINANCIAL OFFICER
- Phone
- (209) 549-8500
- Website
- WWW.VALLEYFIRSTCU.ORG
- Return prepared by
- RSM US LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 94-1439553 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
WORKING TOGETHER TO PROVIDE SUPERIOR SERVICE FOR OUR MEMBERS AND COMMUNITY
Program accomplishments
- AS A STATE-CHARTERED CREDIT UNION, VALLEY FIRST CREDIT UNION (THE CREDIT UNION) PROVIDES LOANS TO MEMBERS AT REDUCED INTEREST RATES AS COMPARED TO COMPETITORS. IN GENERAL, THE CREDIT CRITERIA ARE LESS STRINGENT, LOAN RATES ARE LOWER, AND A HIGHER LEVEL OF LOAN COVERAGE IS PROVIDED. AS OF 12/31/2024, THE CREDIT UNION HAD $716.8 MILLION IN OUTSTANDING LOAN BALANCES AND MORE THAN 78,900 MEMBERS. AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION AND A LOW INCOME DESIGNATED CREDIT UNION, THE CREDIT UNION IS CHARGED WITH GENERATING ECONOMIC GROWTH AND OPPORTUNITY IN ECONOMICALLY DISADVANTAGED COMMUNITIES WITH PROGRAMS THAT INJECT NEW SOURCES OF CAPITAL INTO NEIGHBORHOODS THAT LACK ACCESS TO FINANCING. IN 2024, THE CREDIT UNION DEPLOYED $166 MILLION IN CONSUMER AND BUSINESS CAPITAL TO LOW INCOME COMMUNITIES THROUGHOUT CALIFORNIA'S CENTRAL VALLEY. 73.4% OF SBA FUNDING WENT TO DIVERSE BUSINESS ENTERPRISES AND THE CREDIT UNION GENERATED $7.2 MILLION IN ECONOMIC DEVELOPMENT AS A RESULT OF ITS LENDING EFFORTS. MEMBERS FACING HARDSHIPS WERE SUPPORTED WITH $1,533,271 IN LOAN DEFERRALS AND $764,500 IN LOAN MODIFICATIONS.
- VALLEY FIRST CREDIT UNION (THE CREDIT UNION) PROVIDES A SAFE PLACE FOR THE COMMUNITY TO SAVE THEIR MONEY VIA A VARIETY OF SAVINGS AND INVESTMENT PRODUCTS/SERVICES. THE CREDIT UNION PAYS HIGHER DIVIDEND RATES THAN COMPETITORS AND OFFERS MANY SHORT AND LONG-TERM SAVINGS OPTIONS. AS OF 12/31/24, THE CREDIT UNION HAD 145,604 SHARE ACCOUNTS WITH BALANCES TOTALING OVER $808,934,712. IN 2024, THE CREDIT UNION GAVE BACK $10,543,320 IN MEMBER DIVIDENDS AND OVER $938,000 ACROSS VARIOUS MEMBER INCENTIVES AND REWARDS AS A RESULT OF BANKING WITH THE CREDIT UNION. MEMBERS USING A VALLEY FIRST CREDIT CARD EARNED OVER $192,000 IN CASH BACK REWARDS. THE CREDIT UNION ALSO ONCE AGAIN WAIVED ALL FEES ON SMALL BUSINESS DEPOSIT PRODUCTS, RESULTING IN $98,000 OF ANNUAL SAVINGS FOR SMALL BUSINESSES BANKING WITH THE CREDIT UNION.
- AT THE CORE OF VALLEY FIRST CREDIT UNION'S (THE CREDIT UNION) MISSION LIES A FIRM BELIEF IN PRIORITIZING PEOPLE OVER PROFITS AND GIVING BACK TO THE COMMUNITIES IT SERVES. THE CREDIT UNION INVESTED SIGNIFICANT TIME AND RESOURCES TO HELP CENTRAL VALLEY COMMUNITIES THRIVE THROUGH FINANCIAL, EDUCATIONAL, AND VOLUNTEER SUPPORT THROUGHOUT 2024. THE CREDIT UNION PROVIDED FINANCIAL EDUCATION TO 4,803 MEMBERS, VOLUNTEERED 3,745 HOURS, AND DONATED $205,000 IN MONETARY CONTRIBUTIONS TO LOCAL NON-PROFITS. THE CREDIT UNION ALSO CONTINUED TO PROVIDE FREE CERTIFIED FINANCIAL COUNSELOR SERVICES AND TECHNICAL ASSISTANCE FOR SMALL BUSINESSES THROUGHOUT 2024. AS A RESULT OF THESE SERVICES AND ONLINE FINANCIAL WELLNESS TOOLS, 6,613 MEMBERS SIGNIFICANTLY IMPROVED THEIR CREDIT SCORES IN 2024.
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 February, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | February 28, 2026 | July 15, 2026 | Not on file |
| 2024 | February 28, 2025 | July 15, 2025 | Not on file |
| 2023 | February 29, 2024 | July 15, 2024 | Check at the IRS |
IRS record
- EIN
- 94-1439553
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1961
- Accounting year ends
- February
- Files
- Form 990 or 990-EZ
- Group exemption
- 1526: CREDIT UNIONS IN THE STATE OF CALIFORNIA
- Assets (IRS master file)
- $1,027,273,852
- Income (IRS master file)
- $63,347,544
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $63,347,544 | $58,535,460 | $1,027,273,852 | XML |
| 990 | December 2023 | $57,186,497 | $47,771,769 | $1,019,297,447 | XML |
| 990 | December 2022 | $40,105,453 | $30,736,008 | $964,187,226 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 94-1439553).
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 94-1439553.
- Is CREDIT UNIONS IN THE STATE OF CALIFORNIA tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1961.
- 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 February 28, 2026) is due July 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 KATHRYN DAVIS.
- Who are the officers and directors of CREDIT UNIONS IN THE STATE OF CALIFORNIA?
- The 990 for the year ended December 31, 2024 lists 23 people; 15 received compensation from the organization, the highest $710,897 (KATHRYN DAVIS, 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 $63,347,544, expenses of $58,535,460 and total assets of $1,027,273,852 at year end.
Other nonprofits in MODESTO
- GALLO EMPLOYEE BENEFIT TRUST EIN 94-2334925 · last filed 990 for 2025
- MADERA COMMUNITY HOSPITAL EIN 23-7429117 · last filed 990 for 2023
- CALIFORNIA RURAL LEGAL ASSISTANCE INC EIN 95-2428657 · last filed 990 for 2024
- COMMUNITY HOSPICE INC EIN 94-2638213 · last filed 990 for 2025
- CENTER FOR HUMAN SERVICES EIN 94-1725620 · last filed 990 for 2025
- GREAT VALLEY ACADEMY EIN 61-1506412 · last filed 990 for 2025
- SIERRA VISTA CHILD & FAMILY SERVICES EIN 94-2158023 · last filed 990 for 2025
- PORTUGUESE FRATERNAL SOCIETY OF AMERICA EIN 94-0401320 · last filed 990 for 2025