Provident Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Provident Credit Union is a 501(c)(14) organization based in Redwood City, California, registered in 1961, with $163,813,640 in FY2024 revenue. CharityIndex grades it A.
303 Twin Dolphin Dr, Redwood City, CA, 94065 EIN 94-1482957 Since 1961
Revenue (FY2024)
$163.8M
▲ 12.9% vs prior year
Expenses (FY2024)
$160.5M
Net assets
$357.3M
Employees
410
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
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. Not scored for Provident Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating27 mo reserves · +2% 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 Provident Credit Union: 27 mo reserves · +2% 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 Provident 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 Provident Credit Union: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
A cooperative, organized for the purpose of promoting thrift and savings among its members.
What they do
Provident's movable mortgage allows a member to transfer the current rate and terms (balance at pay-off, margin, etc.) of their existing pcu home loan to their new home purchase. if buying up and the member needed more than the existing balance to complete the purchase, provident would blend the terms of their existing mortgage with rates and terms currently offered on our rate sheet for any shortage in loan amount. typically used in a rising rate environment, the net effect would be a lower rate to the member.
Provident has a program to modify rates on certain portfolio mortgage loans allowing members to benefit from rate drops without going through a complete refinance process.
Contact & location
- Address
- 303 Twin Dolphin Dr, Redwood City, CA, 94065
- City
- Redwood City
- State
- California
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $74.4M (FY2013) to $163.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $3.2BNet assets $357.3M
Operating margin
2.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.5B
Total liabilities
$3.2B
Net assets
$357.3M
Salaries & benefits
$45.9M
29% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $163,813,640▲12.9% | $160,494,045▲16.5% | $357,251,890▲6.0% | $3,546,468,170▲1.4% | 990 |
| 2023 | $145,149,155▲28.5% | $137,818,872▲27.8% | $337,161,223▲12.0% | $3,497,380,170▼0.4% | 990 |
| 2022 | $112,950,041▼1.5% | $107,810,551▲3.4% | $300,967,654▼11.8% | $3,510,687,147▼0.7% | 990 |
| 2021 | $114,626,988▼18.3% | $104,236,674▼14.0% | $341,219,405▲0.1% | $3,536,838,918▲6.6% | 990 |
| 2020 | $140,292,462▲18.8% | $121,217,100▲19.5% | $340,996,250▲6.3% | $3,317,870,698▲18.7% | 990 |
| 2019 | $118,064,717▲15.4% | $101,425,758▲17.6% | $320,808,377▲7.9% | $2,795,784,013▲7.5% | 990 |
| 2018 | $102,329,240▲6.2% | $86,222,533▲7.0% | $297,267,501▲5.4% | $2,599,866,298▲9.0% | 990 |
| 2017 | $96,310,989▲5.1% | $80,580,199▲10.5% | $282,026,766▲4.1% | $2,385,488,711▲4.4% | 990 |
| 2016 | $91,622,709▲14.4% | $72,923,183▲14.0% | $270,847,994▲7.7% | $2,283,897,433▲7.5% | 990 |
| 2015 | $80,123,092▲8.2% | $63,943,576▲1.2% | $251,505,936▲6.5% | $2,124,975,420▲4.6% | 990 |
| 2014 | $74,066,430▼0.5% | $63,200,400▲1.1% | $236,083,001▲5.6% | $2,032,003,563▲6.8% | 990 |
| 2013 | $74,422,514 | $62,501,586▼7.9% | $223,639,619▲4.8% | $1,901,980,386▲10.2% | 990 |
| 2012 | — | $67,849,589▲2.2% | $213,330,533▲7.4% | $1,725,684,280▲13.8% | 990 |
| 2011 | — | $66,368,591▼18.5% | $198,649,478▲5.6% | $1,516,222,986▼6.8% | 990 |
| 2010 | — | $81,422,933 | $188,068,522 | $1,626,499,898 | 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: James Ernest — $1,151,218 (0.72% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| James Ernest | President/ceo | 40 | $1,151,218 |
| Jennifer Lee | Svp/cfao | 40 | $552,486 |
| Fred Gomes | Svp | 40 | $446,079 |
| Ganesh Raghavan | Vp, Network Infrastructure & Security | 40 | $383,853 |
| Greg Kent Mccurdy | Vp, Lending | 40 | $359,661 |
| John Haggarty | Vp, Marketing | 40 | $343,962 |
| John Paul Reilly | Vp, Bs&o | 40 | $335,952 |
| Eric Cardona | Vp, It Dev Ops and Support | 40 | $303,176 |
| Shalini Sahdeo Narayan | Vp, Service Quality | 40 | $293,115 |
| Paul Shea | Vp, Human Resources | 40 | $257,113 |
| Mohamad A Sangabi | Sr. Mortgage Cons. | 40 | $249,953 |
| Janelle Huynh | Vp, Finance | 40 | $229,894 |
| Christine M Keane | Vp, Risk Management | 40 | $223,062 |
| Fatemeh Asad Sangabi | Sr. Mortgage Cons. | 40 | $185,857 |
| David Herrera Jr | Sr. Mortgage Cons. | 40 | $151,097 |
| Phuong Patricia Jacobs | Mortgage Counselor I | 40 | $148,894 |
| Norman Whiteman | Sr. Mortgage Cons. | 40 | $125,750 |
| Andrea Kenter | Board Member | 2 | — |
| Bob Lanzone | Board Member | 2 | — |
| Christine Boland | Secretary | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Eplus Technology Inc | Various It Hardware, Software, Services | $1,923,497 |
| Microsoft Corporation | Microsoft Licenses and Services For It O | $1,663,083 |
| Fiserv Solutions Inc | Financial Services Technology and Paymen | $1,586,644 |
| Finastra USA Corp | Core Retail Banking Software | $1,020,765 |
| Mpx | Postage and Statement Production | $888,518 |
Grants made · $128K in FY2024
10 grants totaling $128K in FY2024. All grants made by Provident Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Cristo Rey De La Salle East Bay Work Program | To support and encourage corporate work study program. | $29,375 |
| San Jose State University | To promote community engagement and fundraising for sjsu student programs | $20,000 |
| Habitat For Humanity Greater San Francisco | To bring people together to build homes, communities, and hope. | $15,000 |
| The Tower Foundation of San Jose State University | To support student clubs, campus culture, and philanthropy | $11,500 |
| One Life Counseling Center | To support mental health awareness and community healing | $10,000 |
| American Heart Association Inc | To promote cardiovascular health and fund lifesaving research and programs | $10,000 |
| Omega-sigma Iota Scholarship Fund Inc | To bring educational support and financial aid to students in need | $10,000 |
| Easterseals Northern California | To support disability services, rehabilitation, and inclusion programs | $8,500 |
| Rebuilding Together Peninsula | To bring people together to repair homes, communities, and help our neighbors stay in their homes. | $8,000 |
| Habitat For Humanity International Inc | To bring volunteer engagement and community building | $6,000 |
Frequently asked questions
- Is Provident Credit Union a legitimate nonprofit?
- Yes. Provident Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 94-1482957, based in Redwood City, California.
- What is Provident Credit Union's EIN?
- Provident Credit Union's Employer Identification Number (EIN) is 94-1482957.
- How much revenue does Provident Credit Union report?
- Provident Credit Union reported $163,813,640 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Provident Credit Union have?
- CharityIndex grades Provident Credit Union A, based on financial health (reserves and operating margin).
- How much does Provident Credit Union's highest-paid employee make?
- The highest reported compensation on Provident Credit Union's latest Form 990 is $1,151,218, paid to James Ernest (President/ceo).
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Data for Provident Credit Union (EIN 94-1482957) 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.