Skip to main content

Nonprofit · EIN 95-1644568

CREDIT UNIONS IN THE STATE OF CALIFORNIA

Also known as LBS FINANCIAL CREDIT UNION

Tax-exempt · WESTMINSTER, CA 92683

Financials

$79.4M$65M2023$92M$83.2M2024
Revenue Expenses · by fiscal year end
Financials of CREDIT UNIONS IN THE STATE OF CALIFORNIA by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$91,952,473$83,243,687$8,708,786$2,043,255,241$1,770,916,556$272,338,685
December 31, 2023990$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.

NameTitleHours / weekCompensationOther / benefits
SEAN HARDEMANPRESIDENT/CEO
Officer
40$709,885$36,198
SUSAN WIGHTS.V.P./CFO
Officer
40$360,138$14,465
KEVIN REEDS.V.P./INFORMATION SYSTEMS
Key employee
40$331,066$32,175
JEFFREY WILLIAM NIEDENTHALS.V.P./CHIEF EXPERIENCE & ENGAGEMENT OFFICER
Officer
40$301,674$18,823
HEATHER SUMMERSS.V.P./MARKETING
Key employee
40$295,592$12,313
JILL MARIE DENIROS.V.P./HUMAN RESOURCES
Key employee
40$269,847$23,524
THOMAS E ORMANS.V.P./CHIEF LENDING OFFICER
Officer
40$248,400$26,648
ALFRED PARENTV.P./COLLECTIONS
Highest-paid employee
40$227,236$18,822
CHRISTINE WU-LIN BASSS.V.P./MEMBER SERVICES
Key employee
40$196,468$25,779
ZUNG-SHANG LIANGV.P./INTERNAL AUDIT
Highest-paid employee
40$193,929$12,065
COURTNEY HIGUCHIV.P./LOAN ADMINISTRATION
Highest-paid employee
40$161,022$18,822
ALVA SARGEANTV.P./RESIDENTIAL LENDING
Highest-paid employee
40$158,808$17,844
THOMAS CHRISTOPHER DOUBLETINFORMATION SYSTEMS SUPPORT MANAGER
Highest-paid employee
40$156,063$8,963
JEFFREY ALLEN NAPPERPRESIDENT/CEO
Former
0$165,021$0
ALAN RAYSUPV CMTE MEMBER
Trustee or director
1$1,857$0
9 more people on this return
NameTitleHours / weekCompensation
JAY CAMERINOBOARD CHAIR
Trustee or director
1$0
LARRY NATIVIDADVICE CHAIR
Trustee or director
1$0
JOHN FYLPAASECRETARY/TREASURER
Trustee or director
1$0
SATINDER HAWKINSBOARD MEMBER
Trustee or director
1$0
PAMELA SEKIBOARD MEMBER
Trustee or director
1$0
LUTHER WILLIAMSBOARD MEMBER
Trustee or director
1$0
NARIN KHY-LYBOARD MEMBER
Trustee or director
1$0
DAVID CONRADSUPV CMTE CHAIR
Trustee or director
1$0
MARK ALDRICHSUPV CMTE MEMBER
Trustee or director
1$0
990 for the year ended December 31, 2023: 22 people
NameTitleHours / weekCompensationOther / benefits
JEFFREY ALLEN NAPPER FORMERPRESIDENT/CEO
Officer
40$953,228$12,366
SEAN HARDEMANPRESIDENT/CEO
Officer
40$548,025$28,460
SUSAN WIGHTS.V.P./CFO
Officer
40$355,066$11,887
KEVIN REEDS.V.P./INFORMATION SYSTEMS
Key employee
40$326,913$28,460
HEATHER SUMMERSS.V.P./MARKETING
Key employee
40$294,562$9,624
JEFFREY WILLIAM NIEDENTHALS.V.P/MEMBER SERVICES
Key employee
40$272,895$17,255
JILL MARIE DENIROS.V.P./HUMAN RESOURCES
Key employee
40$247,432$18,025
ALFRED PARENTV.P./COLLECTIONS
Highest-paid employee
40$220,935$17,255
ZUNG-SHANG LIANGV.P./INTERNAL AUDIT
Highest-paid employee
40$188,151$9,487
CHRISTINE WU-LIN BASSV.P./BRANCH OPERATIONS
Highest-paid employee
40$165,172$25,876
SARGEANT ALVAV.P./RESIDENTIAL LENDING
Highest-paid employee
40$150,921$24,646
COURTNEY HIGUCHIV.P./LOAN ADMINISTRATION
Highest-paid employee
40$153,735$17,255
JILL BAKERBOARD CHAIR
Trustee or director
2$0$0
JAY CAMERINOVICE CHAIR
Trustee or director
2$0$0
JOHN FYLPAASECRETARY/TREASURER
Trustee or director
2$0$0
SATINDER HAWKINSBOARD MEMBER
Trustee or director
2$0$0
PAMELA SEKIBOARD MEMBER
Trustee or director
2$0$0
LUTHER WILLIAMSBOARD MEMBER
Trustee or director
2$0$0
LARRY NATIVIDADBOARD MEMBER
Trustee or director
2$0$0
DAVID CONRADSUPV CMTE CHAIR
Trustee or director
2$0$0
MARK ALDRICHSUPV CMTE MEMBER
Trustee or director
2$0$0
ALAN RAYSUPV 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
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)

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.

990 for the year ended December 31, 2024

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 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
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
Assets (IRS master file)
$2,043,255,241
Income (IRS master file)
$91,952,473

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$91,952,473$83,243,687$2,043,255,241IRS
990December 2023$79,427,970$65,021,225$1,969,993,549XML
990December 2022$64,266,960$46,656,926$2,012,780,174IRS
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 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.

Other nonprofits in WESTMINSTER

All nonprofits in WESTMINSTER · California · Public and societal benefit