2023-10-02T19:16:28-05:00 2022-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2022-01-01 946093763 UPWARD CREDIT UNION FKA UNITED HEALTH CREDIT UNION UPWA 6502311300 1860 EL CAMINO REAL SUITE 100 BURLINGAME CA 940103106 JASON MERTZ-PRICKETT PRESIDENT & CEO 6502311300 2023-09-18 1 JASON MERTZ-PRICKETT 999009999 0 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JASON MERTZ-PRICKETT 1860 EL CAMINO REAL SUITE 100 BURLINGAME CA 940103106 3232601 0 X WWW.UPWARDCU.ORG X CREDIT UNION 1956 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 17 14 76267 0 0 0 2546494 2738122 459781 494479 76226 0 3082501 3232601 0 0 0 0 1543127 1463910 0 0 0 1451577 1607844 2994704 3071754 87797 160847 102007793 93358986 93458520 86867198 8549273 6491788 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, UPWARD CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 CONVERTED EFT SERVICE PROVIDER TO CO-OP FINANCIAL SERVICES PROVIDING MORE DIGITAL PAYMENT OPTIONS FOR OUR MEMBERS, SUCH AS DIGITAL WALLETS. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1026 0 1 17 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 1 1 0 CA X X JASON MERTZ-PRICKETT PRESIDENT & CEO 6502311300 1860 EL CAMINO REAL SUITE 100 BURLINGAME CA 940103106 ANNIE MILLER CHAIR 2.00 X 0 0 0 TED CELENTINO VICE CHAIR 2.00 X 0 0 0 ANGELA DAVIS TREASURER 2.00 X 0 0 0 ABBY VILLAVICENCIO SECRETARY 2.00 X 0 0 0 REED GRAHAM DIRECTOR 2.00 X 0 0 0 JOAN LATUFF DIRECTOR 2.00 X 0 0 0 KAYLYN DAWKINS DIRECTOR 2.00 X 0 0 0 KAREN DAWKINS DIRECTOR 2.00 X 0 0 0 ANNETTE BARRAZA DIRECTOR 2.00 X 0 0 0 THERESA CHASE SUPV CMTE CHAIR 2.00 X 0 0 0 ANN BROWN SUPV CMTE MEMBER 2.00 X 0 0 0 CLARENCE DICKERSON SUPV CMTE MEMBER 2.00 X 0 0 0 JASON MERTZ-PRICKETT PRESIDENT & CEO 40.00 X 130561 0 14795 CAROL LINDA WHITE FORMER PRESIDENT & CEO 40.00 X 195312 0 19504 325873 0 34299 2 0 1 0 0 INTEREST ON LOANS 522100 1895291 1895291 OTHER OPERATING INCOME 522100 479396 466560 12836 FEE INCOME 522100 363435 300004 63431 2738122 494479 494479 3232601 3156334 76267 0 325872 1080506 57532 2378 30300 151375 97861 495539 150283 191643 67249 113338 68301 LOAN SERVICING EXPENSE 108451 MISC OPERATING EXPENSE 86164 PROVISION FOR LOAN & LE 27000 OPERATING FEES 17962 3071754 1042834 1129215 10081958 1782691 1424569 1450599 169286 152870 2653690 1869367 199988 784323 25800400 28784578 61796229 57376676 1492529 1898034 102007793 93358986 477913 1443364 92980607 85423834 93458520 86867198 X 0 0 0 0 8549273 6491788 8549273 6491788 102007793 93358986 160847 -2218332 0 X X 0 1 X 1 0 458 458 458 1 CCUL - PAC 2855 E GUASTI ROAD SUITE 600 ONTARIO CA 91761 940357265 458 PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE 194947 103031 91916 1821991 1766336 55655 636752 636752 784323 NET LOANS & LEASES 42021930 F DEPOSITS IN COMMERCIAL BANKS, ETC 14435000 C NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 819441 C MEMBERSHIP CAPITAL AT CORP 100305 C 57376676 TOTAL SHARES & DEPOSITS 85423834 85423834 X PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN THE INTERNAL REVENUE CODE (IRC) SECTION 501(C) (14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AT ISSUE FOR MANY YEARS. DURING 2007, THE INTERNAL REVENUE SERVICE (IRS) ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA (TAM) TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSES IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATION. X X 0 1 0 CAROL LINDA WHITE FORMER PRESIDENT & CEO 195312 0 0 0 0 0 6631 0 12873 0 214816 0 0 0 PART I, LINE 4B THE CREDIT UNION ENTERED INTO COLLATERAL SPLIT-DOLLAR LIFE INSURANCE AGREEMENTS FOR A KEY EMPLOYEE IN 2019. LINDA WHITE FORMER OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 1320000 1450599 0 1 1 1450599 FORM 990, PART VI, SECTION A, LINE 6 UPWARD CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. UPWARD CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF UPWARD CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 AND SCHEDULES ARE PRESENTED TO THE BOARD AT THE BOARD MEETING FOR REVIEW AND DISCUSSION. CHANGES AND MODIFICATIONS ARE THEN TAKEN INTO ACCOUNT FOR FINAL COMPLETION AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD APPOINTS A COMMITTEE THAT PERFORMS THE REVIEW FOR THE CEO AND REVIEWS SALARY SURVEYS FOR CREDIT UNIONS TO DETERMINE THE SALARY RANGE. THE CEO DOES THE PERFORMANCE EVALUATION FOR SENIOR MANAGEMENT AND REVIEWS SALARY SURVEYS FOR CREDIT UNIONS TO DETERMINE THE SALARY RANGE. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990, SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION UPWARD CREDIT UNION 1860 EL CAMINO REAL, #100 BURLINGAME, CA 94010-3106 TAXPAYER IDENTIFICATION NUMBER: 94-6093763 FOR THE YEAR ENDING DECEMBER 31, 2021 UPWARD CREDIT UNION IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F).