Monterra Credit Union
Nonprofit profile at a glance
- EIN
- 941231186
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Redwood City, CA, USA
- Phone
- (888) 363-1725 or (650) 363-1725
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $94,782,581
- Expenses
- $75,381,520
- Assets
- $1,763,442,270
- Liabilities
- $1,542,671,402
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- WADE PAINTER (CEO/PRESIDENT)
Highest reported compensation
- WADE PAINTER (CEO/PRESIDENT): $872,583 total reported compensation
- VALERIE ALSIP (EVP/COO): $448,767 total reported compensation
- DAVID DIAMOND (VP, CHIEF FINANCIAL OFFICER): $403,743 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Manage your Monterra Credit Union accounts simply and securely, any time and anywhere you have internet access.
What it reported doing in 2024
Monterra credit union is a financial cooperative serving the communities within san mateo county, city of palo alto and select neighborhoods in san francisco. We have seven branches throughout these geographical areas and a headquarters office located in redwood city, California. As of year-end 2024, we had 96,616 member-owners. We offer our members a wide array of retail financial products and services, and we provide financial education to youth and adults throughout the communities we serve. Monterra credit union offers an array of consumer financial products, including residential real estate loans, automobile loans, secured and unsecured loans, credit cards, small business loans, as well as checking, savings and certificate of deposit accounts.
Operating model
- Revenue model
- Earned-program. 87% 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: 73
- Accountability: 100
- Sustainability: 72
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 6th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 58.8%; rating input score 59; 12th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th 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: 20.5%; rating input score 87; 87th percentile among comparable filings
- Total-asset coverage ratio: 23.39; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.87; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 7.5%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: 2% per year; rating input score 100; 15th percentile among comparable filings
- Revenue growth: 7.2% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 8.1% per year; rating input score 100; 59th percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- 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: 1 filed program accomplishment
- Leadership: top reported pay $873K · 25 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $7M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 28 filed money-flow records
- Related organizations: 9 filed related-organization links
- 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.
- Review — Transparency & Controls: Grant itemization coverage scored 59/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 6/100.
- High — Sustainability: Liabilities to assets ratio scored 14/100.