Wescom Financial
Legal name: Wescom Central Credit Union
Nonprofit profile at a glance
- EIN
- 951288265
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Pasadena, CA, USA
- Phone
- 1-888-4WESCOM (1-888-493-7266)
- Rating confidence
- Limited
Reported finances
- Revenue
- $364,119,242
- Expenses
- $350,538,558
- Assets
- $6,275,057,953
- Liabilities
- $5,995,147,899
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
40 people listed
Executive titles in this filing
- WILLIAMS DARREN (PRESIDENT/CEO)
Highest reported compensation
- WILLIAMS DARREN (PRESIDENT/CEO): $2,757,486 total reported compensation
- PIPES KEITH (EXECUTIVE VP AND COO): $767,948 total reported compensation
- PELLISSERY JOSEPH (SENIOR VP TECHNOLOGY/CIO): $677,934 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To be the financial service provider of choice in the communities we serve, reach a wider audience, and better represent our full range of financial services that extend beyond traditional credit union offerings.
What it reported doing in 2024
The credit union acquired central coast credit union on april 1, 2024. The acquisition was undertaken to increase efficiencies to improve overall service to the consolidated member base. No consideration was paid for the acquisition, yet the fair value of the acquired equity below is reflective of a hypothetical transaction price. The credit union assumed all assets and liabilities of the acquired institution and accounted for the transactions at fair value pursuant to acquisition accounting guidance. The fair value of the acquired entity totaled $2,019,038.
Operating model
- Revenue model
- Earned-program. 70% 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: 76
- Accountability: 100
- Sustainability: 56
- 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; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: 1 of 8 controls in place; rating input score 12
- Claims monitoring procedures: Pass
- Requires narrative reports: Limited
- Conducts field audits: Limited
- May suspend future funding: Limited
- Requires financial reports: Limited
- Conducts site visits: Limited
- Requires grant agreements: Limited
- May require repayment: Limited
- Grant itemization coverage: 100%; rating input score 100; 51st 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: 3.7%; rating input score 51; 51st percentile among comparable filings
- Total-asset coverage ratio: 17.9; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.96; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 4.3%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.8% per year; rating input score 100; 50th percentile among comparable filings
- Asset growth: 7.6% per year; rating input score 100; 56th percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 2 operating locations identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments
- Leadership: top reported pay $2.8M · 40 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.3M reported
- Consistency: 13 of 13 current checks pass
- Schedules: 8 filed schedules · includes foreign activity, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 98 filed money-flow records
- Related organizations: 10 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 — Sustainability: Operating margin scored 51/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- High — Sustainability: Officer compensation ratio scored 22/100.