Monterra Credit Union
98% goes to programs Strong reserves Growing revenue
Monterra Credit Union is a 501(c)(14) organization based in Redwood City, California, registered in 1961, with $94,782,581 in FY2024 revenue. CharityIndex grades it B+, and it directs about 98% of spending to programs.
350 Convention Way, Redwood City, CA, 94063 EIN 94-1231186 Since 1961
Revenue (FY2024)
$94.8M
▲ 7.4% vs prior year
Public Benefit median: $140K
Expenses (FY2024)
$75.4M
Net assets
$220.8M
Employees
249
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating98% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Monterra Credit Union: 98% to programs earns a C+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating35 mo reserves · +20% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Monterra Credit Union: 35 mo reserves · +20% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Monterra Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Monterra Credit Union: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Provide a range of financial products and services to improve the financial lives of our members.
Contact & location
- Address
- 350 Convention Way, Redwood City, CA, 94063
- City
- Redwood City
- State
- California
- Category
- Public & Societal Benefit
- Subcategory
- Financial Institutions
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $36.3M (FY2013) to $94.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.5BNet assets $220.8M
Operating margin
20.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.8B
Total liabilities
$1.5B
Net assets
$220.8M
Salaries & benefits
$28.5M
38% of expenses
Board members
7
7 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $94,782,581▲7.4% | $75,381,520▲18.3% | $220,770,868▲9.7% | $1,763,442,270▲5.3% | 990 |
| 2023 | $88,263,104▲26.0% | $63,730,186▲22.9% | $201,230,213▲12.3% | $1,674,734,928▲0.8% | 990 |
| 2022 | $70,068,460▲18.1% | $51,836,419▲11.3% | $179,128,824▲9.5% | $1,661,497,926▲0.6% | 990 |
| 2021 | $59,342,431▼7.7% | $46,583,108▼7.1% | $163,547,230▲9.5% | $1,651,880,221▲15.1% | 990 |
| 2020 | $64,270,513▲3.2% | $50,133,413▲7.8% | $149,344,361▲10.5% | $1,435,484,397▲23.6% | 990 |
| 2019 | $62,264,732▲12.1% | $46,496,514▲14.3% | $135,207,261▲13.2% | $1,161,663,520▲8.5% | 990 |
| 2018 | $55,562,052▲12.9% | $40,673,896▲8.6% | $119,439,043▲14.2% | $1,070,921,854▲6.2% | 990 |
| 2017 | $49,217,703▲10.3% | $37,456,481▲4.6% | $104,550,937▲12.7% | $1,008,514,781▲7.7% | 990 |
| 2016 | $44,636,286▲9.2% | $35,826,050▲4.6% | $92,789,715▲10.5% | $936,616,252▲7.9% | 990 |
| 2015 | $40,871,517▼21.6% | $34,250,703▲2.9% | $83,979,480▲8.6% | $868,068,508▲8.1% | 990 |
| 2014 | $52,112,302▲43.5% | $33,280,609▲0.7% | $77,358,665▲32.2% | $802,760,617▲7.3% | 990 |
| 2013 | $36,311,841 | $33,050,539▲9.2% | $58,526,972▲5.9% | $748,071,264▲5.0% | 990 |
| 2012 | — | $30,270,293▲1.9% | $55,265,670▲12.3% | $712,678,350▲9.8% | 990 |
| 2011 | — | $29,703,828▼14.8% | $49,219,026▲15.4% | $649,138,031▲7.2% | 990 |
| 2010 | — | $34,883,362 | $42,636,798 | $605,767,738 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Wade Painter — $835,111 (1.11% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Wade Painter | Ceo/president | 40 | $835,111 |
| Valerie Alsip | Evp/coo | 40 | $420,688 |
| David Diamond | Vp, Chief Financial Officer | 40 | $366,095 |
| Patricia Ellingson | Evp, Chief Lending Officer | 40 | $323,933 |
| Anatoly Vilderman | Executive Wealth Advisor | 40 | $304,653 |
| Emilio Johansen | Executive Wealth Advisor | 40 | $278,899 |
| Rebecca Nixon | Svp, Chief People Officer | 40 | $272,768 |
| William Andrews | Vp Information Services | 40 | $247,634 |
| Cheryl Rayo | Vp Real Estate Lending | 40 | $222,647 |
| Ignasio Medrano | Vp Digital Services | 40 | $212,725 |
| Richard Kinzie | Vp Risk & Compliance | 40 | $210,854 |
| Yomi Anthonio | Sba Commercial Lending Officer | 40 | $209,703 |
| Suzanne Knowlton | Vp Marketing & Community Relations | 40 | $209,010 |
| Doreen Szymankski | Vp Member Experience | 40 | $205,956 |
| Robert Carter | Vp Administrative Services | 40 | $200,629 |
| Johnny Escalante | Director of Information Services | 40 | $185,273 |
| Dani Robinson | Vp Credit Risk | 40 | $182,235 |
| Janelle Escalante | Director of Employee Relations | 40 | $181,974 |
| Brian Ponty | Board Treasurer | 1 | — |
| John Beiers | Board Chair | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Visa | Card Network Provider | $3,394,565 |
| Alkami Technology | Mobile Deposit Services | $1,462,367 |
| Jack Henry & Associates Inc | Core System Services | $864,278 |
| Financial Technology Solutions Intl Inc | Atm Servicing | $822,358 |
| Convergeone | Software Provider | $466,754 |
Grants made · $74K in FY2024
8 grants totaling $74K in FY2024. All grants made by Monterra Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| San Mateo County Historical Association | Educational programming | $20,640 |
| Childrens Miracle Network | Fundraising event | $12,500 |
| Chamber San Mateo County | Sponsorship | $8,000 |
| Redwood City Parks and Arts Foundation | Annual giving | $8,000 |
| San Mateo County Economic Development Association Incorporat | Annual giving | $7,000 |
| Redwood City Sequoia Awards Inc | Scholarships | $6,750 |
| Kainos Home & Training Center For the Developmentally Disabled | Sponsorship | $5,500 |
| Human Investment Project Inc | Annual giving | $5,500 |
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Frequently asked questions
- Is Monterra Credit Union a legitimate nonprofit?
- Yes. Monterra Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 94-1231186, based in Redwood City, California.
- What is Monterra Credit Union's EIN?
- Monterra Credit Union's Employer Identification Number (EIN) is 94-1231186.
- How much revenue does Monterra Credit Union report?
- Monterra Credit Union reported $94,782,581 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Monterra Credit Union's spending goes to programs?
- Monterra Credit Union spends about 98% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Monterra Credit Union have?
- CharityIndex grades Monterra Credit Union B+, based on program efficiency and fundraising cost.
- How much does Monterra Credit Union's highest-paid employee make?
- The highest reported compensation on Monterra Credit Union's latest Form 990 is $835,111, paid to Wade Painter (Ceo/president).
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Data for Monterra Credit Union (EIN 94-1231186) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.