E-central Credit Union
Nonprofit profile at a glance
- EIN
- 951442156
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Pasadena, CA, USA
- Phone
- 6267996000
- Rating confidence
- Limited
Reported finances
- Revenue
- $10,617,693
- Expenses
- $8,728,953
- Assets
- $169,203,207
- Liabilities
- $130,799,866
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- MICHAEL THEODORE (PRESIDENT/CEO)
Highest reported compensation
- MICHAEL THEODORE (PRESIDENT/CEO): $688,332 total reported compensation
- LOH JEN SY (SVP/CCO): $240,085 total reported compensation
- SILVIO JORGE (VP/CFO): $197,877 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
E-central credit union is a cooperative, organized for the purpose of promoting thrift and saving 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, e-central credit union conducts its business for the mutual benefit and general welfare of its members with the earning, savings, benefits, or services of the credit union being distributed to its members as patrons.
What it reported doing in 2024
Offering a vast array of dynamic online services is central to e-central's strategic plan to allow members to access their account anytime, anywhere. This is an important initiative to remain competitive, improve operational efficiencies, and to retain members. Our suite of free e-services includes online banking, mobile banking, bill pay, personal financial management tools, account-to-account transfers, remote check deposit and a number of other services.
Operating model
- Revenue model
- Earned-program. 78% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 82
- Accountability: 100
- Sustainability: 68
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 17.8%; rating input score 80; 80th percentile among comparable filings
- Total-asset coverage ratio: 19.38; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.77; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 20.8%; rating input score 4; 4th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 0.5% per year; rating input score 100; 10th percentile among comparable filings
- Asset growth: 0.6% per year; rating input score 100; 12th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $688K · 17 people listed · 4 of 6 pay-setting controls reported
- Consistency: 10 of 10 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 15 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Officer compensation ratio scored 4/100.
- High — Sustainability: Liabilities to assets ratio scored 15/100.