2023-11-15T17:44:53-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2022-01-01 941231186 SAN MATEO CREDIT UNION SANM 6503631716 350 CONVENTION WAY REDWOOD CITY CA 94063 DAVID DIAMOND VP, CFO 6503631716 2023-11-15 1 DAVID DIAMOND XXX-XX-XXXX 1 MELISSA HANGSLEBEN P02087031 6022662248 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WADE PAINTER 350 CONVENTION WAY REDWOOD CITY CA 94063 70241423 0 X WWW.SMCU.ORG X 1952 CA PROVIDE A RANGE OF FINANCIAL PRODUCTS AND SERVICES TO IMPROVE THE FINANCIAL LIVES OF OUR MEMBERS. 7 7 252 12 103087 14677 0 0 56676373 59827484 188663 8905205 2477395 1335771 59342431 70068460 69870 184130 4053861 4250301 22002344 23729780 0 0 0 20457033 23672208 46583108 51836419 12759323 18232041 1651880221 1661497926 1488332991 1482369102 163547230 179128824 PASSIONATELY DELIVER RELEVANT PRODUCTS, SERVICES, AND EDUCATION TAILORED TO HELP OUR MEMBERS, EMPLOYEES, AND COMMUNITIES ACHIEVE THEIR FINANCIAL GOALS. 0 0 SAN MATEO CREDIT UNION IS A FINANCIAL COOPERATIVE SERVING THE COMMUNITIES WITHIN SAN MATEO COUNTY, CITY OF PALO ALTO AND SELECT NEIGHBORHOODS IN SAN FRANCISCO. WE HAVE SEVEN BRANCHES THROUGHOUT THESE GEOGRAPHICAL AREAS AND A HEADQUARTERS OFFICE LOCATED IN REDWOOD CITY, CALIFORNIA. AS OF YEAR-END 2022, WE HAD 90,768 MEMBER-OWNERS. WE OFFER OUR MEMBERS A WIDE ARRAY OF RETAIL FINANCIAL PRODUCTS AND SERVICES, AND WE PROVIDE FINANCIAL EDUCATION TO YOUTH AND ADULTS THROUGHOUT THE COMMUNITIES WE SERVE. SMCU OFFERS AN ARRAY OF CONSUMER FINANCIAL PRODUCTS, INCLUDING RESIDENTIAL REAL ESTATE LOANS, AUTOMOBILE LOANS, SECURED AND UNSECURED LOANS AND CREDIT CARDS, AS WELL AS CHECKING, SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 21393 0 1 252 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 CA X DAVID DIAMOND 6503631716 350 CONVENTION WAY REDWOOD CITY CA 94063 WADE PAINTER CEO/PRESIDENT 40.00 1.00 X 801842 0 22500 VALERIE ALSIP EVP/COO 40.00 1.00 X 559420 0 14845 DAVID DIAMOND VP, CHIEF FINANCIAL OFFICER 40.00 1.00 X 401435 0 15736 PATRICIA ELLINGSON SVP, CHIEF LENDING OFFICER 40.00 0.00 X 379450 0 17787 REBECCA NIXON VP EMPLOYEE RELATIONS 40.00 0.00 X 322343 0 17602 DOREEN SZYMANKSKI VP MEMBER EXPERIENCE 40.00 0.00 X 285006 0 20676 WILLIAM ANDREWS VP INFORMATION SERVICES 40.00 0.00 X 285860 0 16493 ROBERT CARTER VP ADMINISTRATIVE SERVICES 40.00 0.00 X 285028 0 13462 IGNASIO MEDRANO VP DIGITAL SERVICES 40.00 0.00 X 283909 0 12505 RICHARD KINZIE VP RISK & COMPLIANCE 40.00 0.00 X 273672 0 17754 EMILIO JOHANSEN EXECUTIVE WEALTH ADVISOR 40.00 0.00 X 261971 0 22472 ANATOLY VILDERMAN EXECUTIVE WEALTH ADVISOR 40.00 0.00 X 248227 0 13224 DANI ROBINSON VP CREDIT RISK 40.00 0.00 X 244329 0 13661 SUZANNE KNOWLTON VP MARKETING & COMMUNITY RELATIONS 40.00 1.00 X 215497 0 23134 CHERYL RAYO VP REAL ESTATE LENDING 40.00 0.00 X 215273 0 9410 JOHNNY ESCALANTE DIRECTOR OF INFORMATION SERVICES 40.00 0.00 X 182459 0 13755 JON GALLE LEAD ENTERPRISE APPLICATIONS ANALYST 40.00 0.00 X 157638 0 17748 JANELLE EATON ESCALANTE DIRECTOR OF EMPLOYEE RELATIONS 40.00 0.00 X 162507 0 6166 MICHAEL CLAIRE CHAIR 1.00 0.00 X X 0 0 0 STEVE DIVNEY VICE CHAIR 1.00 0.00 X X 0 0 0 KATE HARR TREASURER 1.00 0.00 X X 0 0 0 JOHN BEIERS SECRETARY 1.00 0.00 X X 0 0 0 MAGDA GONZALEZ DIRECTOR 1.00 0.00 X 0 0 0 BRIAN PONTY DIRECTOR 1.00 0.00 X 0 0 0 DONNA VAILLANCOURT DIRECTOR (THRU 12/31/2022) 1.00 0.00 X 0 0 0 5565866 0 288930 48 0 1 0 VISA POBOX 742233 LOS ANGELES CA 90074 CARD NETWORK PROVIDER 2816927 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 1618903 ALKAMI TECHNOLOGY 5601 GRANITE PARKWAY STE 120 PLANO TX 75024 MOBILE DEPOSIT SERVICES 1123469 JACK HENRY & ASSOCIATES POBOX 609 MONETT MO 65708 CORE SYSTEM SERVICES 585951 FINANCIAL TECHNOLOGY SOLUTIONS INTL INC POBOX 919 MONROVIA CA 91017 ATM SERVICING 501521 37 INTEREST ON LOANS 522100 41254094 41254094 INTERCHANGE INCOME 522100 9709523 9709523 OTHER NONINTEREST INCOME 522100 4467094 4364007 103087 DEPOSIT SERVICE CHARGES AND FEES 522100 4174517 4174517 SALE OF LOANS 522100 222256 222256 59827484 8905205 8905205 1508734 172963 1335771 1335771 1335771 70068460 59724397 103087 10240976 174130 10000 4250301 4768629 14272700 1157555 2146237 1384659 67509 236207 10297 2524513 1247148 1849952 2414030 45249 142206 1961242 2679362 222659 UBI TAX 22282 DEBIT & CREDIT CARD FEE 3174638 REPAIRS & MAINTENANCE 2269236 LOAN SERVICING 2094002 2711676 51836419 18839192 15728774 467846541 246760569 1311069 1462395 11132005 11452609 1057423608 1292005187 394283 807015 42864981 26506429 18160378 16358552 30157093 29828305 8167300 7755500 38448752 39339020 1651880221 1661497926 22864036 9559726 1465468955 1472809376 1488332991 1482369102 X 0 0 0 0 163547230 179128824 163547230 179128824 1651880221 1661497926 18232041 -2650447 0 X X 0 1 X 1 0 10297 0 0 10297 10297 1 CALIFORNIA CREDIT UNION LEAGUE 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 10297 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES TO POLITICAL ACTION COMMITTEES (PACS) IN SUPPORT OF CREDIT UNION ISSUES. 5000000 5000000 14697612 6431506 8266106 4151698 4151698 0 18915671 15923225 2992446 100000 100000 16358552 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1458173788 LEASE LIABILITIES 14635588 1472809376 X 70241423 0 70241423 -172963 -172963 70068460 52009382 172963 172963 51836419 0 51836419 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND THE UNRELATED BUSINESS INCOME TAXES PAID WERE IMMATERIAL FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX 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 CREDIT 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: RENTAL EXPENSES MOVED TO THE STATEMENT OF REVENUE FROM EXPENSES -172,963. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED TO THE STATEMENT OF REVENUE FROM EXPENSES 172,963. 1 NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT RD MADISON WI 53705 391383650 501(C)(3) 60000 0 ANNUAL PROGRAM SUPPORT CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 26450 0 WINE AUCTION SAN MATEO COUNTY COMMUNITY COLLEGES FOUNDATION (SMCCCF) 3401 CSM DR SAN MATEO CA 94402 946133905 501(C)(3) 16300 0 SPONSORSHIPS AND SCHOLARSHIPS REDWOOD CITY POLICE ACTIVITIES LEAGUE 3399 BAY ROAD REDWOOD CITY CA 94063 943229506 501(C)(3) 11800 0 ANNUAL PROGRAM SUPPORT AND GOLF EVENT SAN MATEO COUNTY HISTORICAL ASSOCIATION 2200 BROADWAY REDWOOD CITY CA 94063 237186194 501(C)(3) 10750 0 ANNUAL PROGRAM SUPPORT CHAMBER SAN MATEO COUNTY 1450 VETERANS BLVD 125 REDWOOD CITY CA 94063 940377914 501(C)(6) 8000 0 PROGRESS SEMINAR SPONSORSHIP REDWOOD CITY SEQUOIA AWARDS PO BOX 2355 REDWOOD CITY CA 94064 943148844 501(C)(3) 6750 0 SCHOLARSHIPS 6 1 EDUCATIONAL SCHOLARSHIPS 2 10000 PART I, LINE 2: THE COMMUNITY RELATIONS DEPARTMENT MAINTAINS RECORDS OF ALL GRANTS. SCHOLARSHIPS - SMCU HAS AN APPLICATION PROCESS WITH ELIGIBILITY CRITERIA AND RIGOROUS APPLICATION REVIEW PROCESS. THE SCHOLARSHIP SELECTIONS ARE DETERMINED BY A TRAINED PANEL OF SMCU EMPLOYEES. AWARDS ARE PAYABLE IN THE STUDENT'S NAME FOR THE STUDENT TO USE FOR ADMISSION, TUITION, OR SCHOOL-RELATED EXPENSES INCLUDING BOOKS AND ROOM AND BOARD. X X 1 1 X X X X 0 1 0 WADE PAINTER CEO/PRESIDENT 662537 0 128505 0 10800 0 18300 0 4200 0 824342 0 0 0 VALERIE ALSIP EVP/COO 383688 0 41445 0 134287 0 14233 0 612 0 574265 0 0 0 DAVID DIAMOND VP, CHIEF FINANCIAL OFFICER 289912 0 29507 0 82016 0 10884 0 4852 0 417171 0 0 0 PATRICIA ELLINGSON SVP, CHIEF LENDING OFFICER 264225 0 30013 0 85212 0 11751 0 6036 0 397237 0 0 0 REBECCA NIXON VP EMPLOYEE RELATIONS 226390 0 24972 0 70981 0 13811 0 3791 0 339945 0 0 0 DOREEN SZYMANKSKI VP MEMBER EXPERIENCE 183600 0 20687 0 80719 0 11177 0 9499 0 305682 0 0 0 WILLIAM ANDREWS VP INFORMATION SERVICES 192621 0 19852 0 73387 0 11837 0 4656 0 302353 0 0 0 ROBERT CARTER VP ADMINISTRATIVE SERVICES 199449 0 21894 0 63685 0 12052 0 1410 0 298490 0 0 0 IGNASIO MEDRANO VP DIGITAL SERVICES 202912 0 20715 0 60282 0 12193 0 312 0 296414 0 0 0 RICHARD KINZIE VP RISK & COMPLIANCE 189272 0 19986 0 64414 0 11718 0 6036 0 291426 0 0 0 EMILIO JOHANSEN EXECUTIVE WEALTH ADVISOR 259551 0 0 0 2420 0 15964 0 6508 0 284443 0 0 0 ANATOLY VILDERMAN EXECUTIVE WEALTH ADVISOR 245627 0 0 0 2600 0 12912 0 312 0 261451 0 0 0 DANI ROBINSON VP CREDIT RISK 165807 0 17739 0 60783 0 10422 0 3239 0 257990 0 0 0 SUZANNE KNOWLTON VP MARKETING & COMMUNITY RELATIONS 198120 0 17377 0 0 0 12524 0 10610 0 238631 0 0 0 CHERYL RAYO VP REAL ESTATE LENDING 174730 0 17246 0 23297 0 8078 0 1332 0 224683 0 0 0 JOHNNY ESCALANTE DIRECTOR OF INFORMATION SERVICES 150377 0 16972 0 15110 0 9291 0 4464 0 196214 0 0 0 JON GALLE LEAD ENTERPRISE APPLICATIONS ANALYST 124262 0 9946 0 23430 0 8068 0 9680 0 175386 0 0 0 JANELLE EATON ESCALANTE DIRECTOR OF EMPLOYEE RELATIONS 144369 0 14068 0 4070 0 4576 0 1590 0 168673 0 0 0 PART I, LINE 1B IN ACCORDANCE WITH THE SMCU BYLAWS AND EXPENDITURES POLICY, OFFICIALS, DIRECTORS, AND SUPERVISORY COMMITTEE MEMBERS TRAVEL TO ATTEND CONTINUING EDUCATION AND INDUSTRY-RELATED SEMINARS, CONFERENCES, AND MEETINGS. PART I, LINE 4B THE CREDIT UNION HAS MADE A LOAN FOR LIFE INSURANCE PREMIUM PAYMENTS TO A MEMBER OF MANAGEMENT. THE LOAN IS COLLATERALIZED BY THE ASSIGNMENT OF THE POLICY DEATH BENEFITS AND CASH VALUES OF EACH RESPECTIVE LIFE INSURANCE POLICY, PLUS INCOME ANNUITIES USED TO FUND THE POLICIES. THE POLICIES ARE OWNED BY THE EXECUTIVE AND THE EXECUTIVE HAS THE RIGHT TO NAME THE BENEFICIARIES FOR AMOUNTS NOT SECURED BY THE ASSIGNMENTS. WADE PAINTER PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 9659000 11452609 0 1 1 11452609 FORM 990, PART VI, SECTION A, LINE 6 YOU ARE ELIGIBLE FOR MEMBERSHIP IN SMCU IF: - YOU LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN SAN MATEO COUNTY, THE CITY OF PALO ALTO, OR SELECT SAN FRANCISCO ZIP CODES: 94110, 94112, 94116, 94122 94124, 94132, OR 94134. -YOU ARE A MEMBER OF OR EMPLOYED BY ONE OF OUR PARTNER ORGANIZATIONS OR BUSINESSES. - YOU HAVE A FAMILY MEMBER, DOMESTIC PARTNER, OR ROOMMATE THAT IS A MEMBER OF SMCU. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. FORM 990 AND SUMMARY ARE PROVIDED TO THE BOARD OF DIRECTORS SUBSEQUENT TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES OF THE CREDIT UNION SHALL NOT ENGAGE IN ANY ACTIVITIES WHICH ARE OR COULD BE IN CONFLICT WITH THEIR STATUS AS A CREDIT UNION EMPLOYEE. THIS INCLUDES THE USE OF ONE'S STATUS AS AN EMPLOYEE FOR PERSONAL PROFIT OR ADVANTAGE. IN ADDITION, IT IS UNLAWFUL FOR AN EMPLOYEE OR OFFICER OF THE CREDIT UNION TO USE INFORMATION AND DISCLOSURE OF MEMBER ASSETS AND PERSONAL DATA FOR PERSONAL GAIN OR OTHER FRAUDULENT PURPOSES. SUCH ACTIVITY ON THE PART OF ANY EMPLOYEE WILL RESULT IN IMMEDIATE DISMISSAL. ANNUALLY EMPLOYEES AND THE BOARD OF DIRECTORS MUST REVIEW, DISCLOSE, AND SIGN THE CONFLICT OF INTEREST DOCUMENT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT, OFFICERS, AND KEY EMPLOYEES IS DETERMINED BY CONDUCTING AN INDEPENDENT COMPENSATION ANALYSIS, WHICH IS REVIEWED BY THE COMPENSATION COMMITTEE. THE COMPENSATION DETERMINATION IS ALSO SUPPORTED BY A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY, APPROVAL OF BOARD, AND INDEPENDENT COMPENSATION CONSULTANT. THIS PROCESS WAS LAST COMPLETED IN 2022. FOR OFFICERS AND KEY EMPLOYEES, COMPENSATION IS DETERMINED BY CONDUCTING AN INDEPENDENT COMPENSATION ANALYSIS. COMPENSATION IS THEN DETERMINED AND APPROVED BY THE CEO. THE COMPENSATION DECISION IS DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022 FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. SMCU COMMUNITY FUND 350 CONVENTION WAY REDWOOD CA 94063 850663372 NONPROFIT FUND TO SUPPORT FINANCIAL WELLNESS IN OUR COMMUNITY CA 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0