2023-11-06T16:10:59-06:00 2022-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2022-01-01 942407726 SANTA CRUZ COMMUNITY CREDIT UNION SANT 8314257708 324 FRONT STREET SANTA CRUZ CA 95060 ELIZABETH CARR CEO 8314257708 2023-11-01 1 ELIZABETH CARR 999009999 1 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ELIZABETH CARR 324 FRONT STREET SANTA CRUZ CA 95060 15994442 0 X WWW.SCCCU.ORG X CREDIT UNION 1977 CA A COMMUNITY DEVELOPMENT AND LOW INCOME CERTIFIED FINANCIAL COOPERATIVE ORGANIZED TO SERVE UNDERSERVED AND PROMOTE ECONOMIC EQUITY. 6 6 77 10 14872 0 0 0 9411712 10274698 1195813 2306076 777050 1596300 11384575 14177074 114193 119601 0 0 4497278 5378175 0 0 0 4049670 6095993 8661141 11593769 2723434 2583305 184280638 188657258 169437276 171291770 14843362 17365488 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS 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, SANTA CRUZ COMMUNITY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. SANTA CRUZ COMMUNITY CREDIT UNION SERVES THE COMMUNITY AS A CERTIFIED CDFI AND LOW INCOME CREDIT UNION, ENSURING THAT THROUGH ECONOMIC JUSTICE MEASURES, ALL PEOPLE RECEIVE ASSISTANCE TO IMPROVE THEIR LIVES. 0 0 THE CREDIT UNION IS A COMMUNITY DEVELOPMENT, LOW-INCOME AND JUNTOS AVANZAMOS CERTIFIED CREDIT UNION PROVIDING LOW-COST, LIFE-CHANGING SERVICES AND FINANCIAL LEARNING TO ITS LOCAL COMMUNITIES WITH A MISSION TO EMBRACE ECONOMIC JUSTICE AND FPROVIDE FINANCIAL ACCESS TO ALL PEOPLE. ADDITIONALLY, THE CREDIT UNION'S MISSION INCLUDES PROVIDING SERVICES TO UNBANKED AND UNDERSERVED MEMBERS OF OUR COMMUNITIES. SERVICES INCLUDE SAVINGS ACCOUNTS, MATRICULA CONSULAR ACCOUNTS AND ALL FACETS OF CONSUMER, REAL ESTATE AND COMMERCIAL/SMALL BUSINESS LENDING AS WELL AS ITIN LENDING AND SECOND CHANCE SERVICES. FIRST-TIME BORROWING PROGRAMS,CREDIT BUILDER LOANS, LINES OF CREDIT, VEHICLE, CREDIT CARDS AND SECOND CHANCE OPPORTUNITIES FOR BORROWING, ARE ALL PART OF THE CREDIT UNIONS SERVICES. THE CREDIT UNION PROVIDES BUSINESS LENDING AND COMMERCIAL LENDING PRODUCTS INCLUDING REAL ESTATE FIRST AND SECOND LOANS, COMMUNITY DEVELOPMENT AND GOVERNMENT GUARANTEED LOANS SUCH AS SBA LOANS, SMALL BUSINESS AND MICRO BUSINESS LOANS AS WELL AS OTHER BUSINESS LOANS IN A COMMUNITY OF ENTREPRENEURIAL BUSINESSES THAT OFTEN HAVE FEW OPTIONS AVAILABLE TO THEM FROM THE MAINSTREAM BANKING INDUSTRY. THE CREDIT UNION PROVIDES CONSUMER AND BUSINESS FINANCIAL PRODUCTS AND SERVICES INCLUDING FIXED-INCOME SAVINGS INSTRUMENTS, SHARE-DRAFT AND IRA ACCOUNTS, MATRICULA CONSULAR ACCOUNTS, SECOND CHANCE SAVINGS, AND NO OR LOW-COST CHECKING ACCOUNTS DESIGNED TO SERVE BOTH MODERATE AND LOW-INCOME COMMUNITY MEMBERS AS WELL AS OUR IMMIGRANT COMMUNITY MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 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 0 0 1 1693 0 1 77 1 1 1 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X ANNIE SONG CFO 8314602340 324 FRONT STREET SANTA CRUZ CA 95060 HOWARD SHERER CHAIRMAN 1.00 X 0 0 0 PAULINA MORENO BOARD SECRETARY 1.00 X 0 0 0 PHILLIP LEE BOARD TREASURER 1.00 X 0 0 0 AMI EBRIGHT BOARD MEMBER 1.00 X 0 0 0 MATT FARRELL BOARD MEMBER 1.00 X 0 0 0 TAMMY PELSTRING BOARD MEMBER 1.00 X 0 0 0 ERENDIRA GUERRERO BOARD MEMBER 1.00 X 0 0 0 LINDA BROWN SUPV CMTE CHAIR 1.00 X 0 0 0 ULF CHRISTENSSON SUPV CMTE MEMBER 1.00 X 0 0 0 SUZANNE MACLEAN SUPV CMTE MEMBER 1.00 X 0 0 0 ELIZABETH CARR CEO 40.00 X 278810 0 209628 ANNIE SONG FORMER FORMER CFO 40.00 X 180933 0 19613 KATIE FAIRBAIRN CHIEF EXPERIENCE OFFICER 40.00 X 178258 0 1421 EDWARD CROSS JR CIO 40.00 X 157823 0 0 EVERADO MUNOZ COO 40.00 X 144323 0 17130 PAUL BARENFUS CLO 40.00 X 103003 0 0 RICHARD COOPER EVP 40.00 X 137396 0 25829 GENARO DE LA TORRE SR CREDIT SUPPORT SERVICE 40.00 X 118364 0 33896 JESUS BERUMEN DIR OF CONSUMER REAL ESTATE 40.00 X 106752 0 28689 1405662 0 336206 9 0 1 0 0 INTEREST ON LOANS 522100 8068965 8068965 FEE INCOME 522100 2010623 1995751 14872 OTHER OPERATING INCOME 522100 195110 195110 10274698 299894 299894 3823550 1817368 2006182 2006182 2006182 OTHER NON-OPERATING INCOME 522100 1596300 1596300 1596300 14177074 14162202 14872 0 119601 1405662 2863912 72481 746989 289131 26526 93365 341043 329230 1873147 68480 725916 30116 244184 240459 87885 PROVISION FOR LOAN LOSS 1574880 MISCELLANEOUS OPERATING 230193 LOAN SERVICING EXPENSE 206497 OPERATING FEES 24072 11593769 1666252 2047044 25515770 11571110 418632 224590 7850955 1778398 1035820 6072557 8617992 6165926 143069760 158390800 3956412 4185231 184280638 188657258 4747849 7313600 164689427 163978170 169437276 171291770 X 0 0 0 0 14843362 17365488 14843362 17365488 184280638 188657258 2583305 -61179 0 X X 0 1 X 1 0 879901 406500 473401 1564210 1232340 331870 5406844 139558 5267286 6072557 ALL OTHER INVESTMENTS 661400 F LOANS & LEASES 154281473 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 1406612 C PAID IN CAPITAL AT CORP 445315 C DEPOSITS IN COMMERCIAL BANKS, S&LS, SAVINGS BANKS 1596000 C 158390800 MEMBER SHARES & DEPOSITS 162178170 SUBORDINATED DEBT INCLUDED IN NET WORTH 1516667 SUBORDINATED DEBT 283333 163978170 X 14164641 0 14164641 12434 12434 14177075 11581336 0 11581336 12434 12434 11593770 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. THE CREDIT UNION'S 2019 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED AS REVENUE ITEM 12,434. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED AS REVENUE ITEM 12,434. 1 THE DIVERSITY CENTER OF SANTA CRUZ COUNTY 1117 SOQUEL AVE SANTA CRUZ SANTA CRUZ CA 95062 770212967 501(C)(3) 10000 0 FMV TO ENHANCE THE LIVES AND PROMOTE FAIRNESS FOR THE LESBIAN, GAY, BISEXUAL AND TRANSGENDER COMMUNITY. SENIORS COUNCIL OF SANTA CRUZ & SAN BENITO COUNTIES 234 SANTA CRUZ AVENUE APTOS CA 95003 942662950 501(C)(3) 10000 0 FMV VITA DONATIONS POLISH AMERICAN FEDERAL CREDIT UNION 2889 E MAPLE ROAD TROY MI 48083 382116791 501(C)(1) 10000 0 FMV WAR IN UKRAINE- PER SCCCU BOARD OF DIRECTORS CASA 813 FREEDOM BLVD WATSONVILLE CA 95076 770305354 501(C)(3) 5150 0 FMV TO ASSIST IN PROVIDING ADVOCACY, STABILITY, AND HOPE TO CHILDREN WHO HAVE BEEN ABUSED. ARTS COUNCIL OF SANTA CRUZ COUNTY 1070 RIVER ST SANTA CRUZ CA 95060 942600140 501(C)(3) 5100 0 FMV TO ASSIST IN GENERATING CREATIVITY, VIBRANCY, AND CONNECTION IN SANTA CRUZ COMMUNITY. 4 5 X 1 0 X X X X 0 1 0 ELIZABETH CARR CEO 266810 0 0 0 12000 0 187838 0 21790 0 488438 0 0 0 ANNIE SONG FORMER FORMER CFO 174933 0 0 0 6000 0 7335 0 12278 0 200546 0 0 0 KATIE FAIRBAIRN CHIEF EXPERIENCE OFFICER 160258 0 12000 0 6000 0 1421 0 0 0 179679 0 0 0 EDWARD CROSS JR CIO 151823 0 0 0 6000 0 0 0 0 0 157823 0 0 0 EVERADO MUNOZ COO 125535 0 10000 0 8788 0 0 0 17130 0 161453 0 0 0 RICHARD COOPER EVP 98455 0 12000 0 26941 0 4994 0 20835 0 163225 0 0 0 GENARO DE LA TORRE SR CREDIT SUPPORT SERVICE 111422 0 5500 0 1442 0 2539 0 31357 0 152260 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN WITH THE PRESIDENT/CEO. THE CREDIT UNION CONTRIBUTES 100% OF THE FUNDS TO THIS PLAN. UNDER THE TERMS OF THE PLAN, THE PARTICIPANT IS ENTITLED TO SPECIFIED AMOUNTS IF THEY REMAIN EMPLOYED BY THE CREDIT UNION THROUGH SCHEDULED VESTING DATES. IF THE PARTICIPANT EXPERIENCES A SEPARATION FROM SERVICE AS DEFINED IN THE AGREEMENT, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE. THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE AS DEFINED IN THE AGREEMENT. THE DEFERRED COMPENSATION PAYABLE INCLUDED IN ACCRUED EXPENSES AND OTHER LIABILITIES WAS APPROXIMATELY $499,000 AND $323,000 AS OF DECEMBER 31,2022 AND 2021, RESPECTIVELY. DEFERRED COMPENSATION EXPENSES INCLUDED IN COMPENSATION AND BENEFITS NONINTEREST EXPENSE WERE APPROXIMATELY $177,000 AND $174,000 FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, RESPECTIVELY. FORM 990, PART VI, SECTION A, LINE 6 SANTA CRUZ COMMUNITY 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. SANTA CRUZ COMMUNITY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF SANTA CRUZ COMMUNITY 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 OF DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS FORM 990 PRIOR TO FILING. SUBSEQUENTLY A COPY OF THE FORM IS DISTRIBUTED TO THE SUPERVISORY COMMITTEE AND BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD AND MANAGEMENT REVIEW, UPDATE AND DISTRIBUTE THE CONFLICT OF INTEREST POLICY TO ALL STAFF AND VOLUNTEERS OF THE ORGANIZATION. THE MOST RECENT POLICY IS REVIEWED AND SIGNED BY ALL STAFF ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES AN INDEPENDENT THIRD PARTY COMPENSATION AND PERFORMANCE MANAGEMENT SYSTEM, HRN - COMPEASE, I-PERFORMEASE SOFTWARE ANNUALLY. THE THIRD PARTY VENDOR AND SYSTEM INDEPENDENTLY GATHER CREDIT UNION COMPENSATION DATA BASED ON FIVE OBJECTIVE COMPENSABLE FACTORS AND THE DATA IS INPUT INTO OUR COMPENSATION SYSTEM. THE ANNUAL COMPENSATION DATA IS ALSO SHARED WITH THE BOARD AND ANNUAL COMPENSATION BUDGETS ARE REVIEWED AND AUTHORIZED BY THE BOARD. INTERNALLY, THE PERFORMANCE MANAGEMENT SOFTWARE DETERMINES ONE'S PERFORMANCE AND CORRESPONDING COMPENSATION LEVEL. THE CEO REVIEWS AND APPROVES ALL STAFF AND MANAGEMENT LEVEL COMPENSATION, AND THE BOARD OVERSEES AND AUTHORIZES THE CEO PERFORMANCE MANAGEMENT AND COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 SANTA CRUZ COMMUNITY CREDIT UNION HAS LOBBY SIGNAGE INDICATING THAT OUR GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.