2024-11-08T12:16:19-06:00 2023-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2023-01-01 942407726 SANTA CRUZ COMMUNITY CREDIT UNION SANT 8314257708 55 RIVER STREET SANTA CRUZ CA 95060 ELIZABETH CARR CEO 8314257708 2024-11-07 1 1 X VALENTINO CREUS CPA P01054153 8189549700 2023 2024-10-15 13:58:12Z ELIZABETH CARR 55 RIVER STREET SANTA CRUZ CA 95060 13379325 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. 7 7 72 11 21820 0 0 0 10274698 10795025 2306076 674670 1596300 1893405 14177074 13363100 119601 73776 0 0 5378175 5865841 0 0 0 6095993 6463977 11593769 12403594 2583305 959506 188657258 191939988 171291770 174138843 17365488 17801145 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, FINANCIAL LEARNING AND OPPORTUNITIES TO ITS LOCAL COMMUNITIES WITH A MISSION TO EMBRACE ECONOMIC JUSTICE AND TO PROVIDE FINANCIAL ACCESS AND OPPORTUNITIES TO ALL PEOPLE. ADDITIONALLY, THE CREDIT UNION'S MISSION INCLUDES SERVING THE UNBANKED AND UNDERSERVED, INCLUDING IMMIGRANTS WITH SPECIAL SERVICES SUCH AS SPECIAL SAVING PROGRAMS AND ACCOUNTS, MATRICULA CONSULAR ACCOUNTS, SECOND CHANCE CHECKING, ITIN LOANS AND DACA LOANS. SCCCU PROVIDES A VARIETY OF OPPORTUNITIES TO OUR MINORITY POPULATIONS INCLUDING CONSUMER, REAL ESTATE AND COMMERCIAL/SMALL AND MICRO-BUSINESS LENDING. SPECIFICALLY, THE CREDIT UNION OFFERS "PROYECTO HOGAR" HOME/MANUFACTURED HOME LOANS, NEW AND USED AUTO LOANS, MINORITY AND ITIN BUSINESS LOANS/LINES OF CREDIT, FIRST-TIME BORROWING PROGRAMS AND CREDIT BUILDER LOANS SUCH AS SAVINGS-SECURED CREDIT CARDS AND PERSONAL LOANS. 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 AND CAL COASTAL RURAL DEVELOPMENT SECURED-LOANS AND MICRO-BUSINESS LOANS. ADDITIONALLY, THE CREDIT UNION SERVES MANY MICRO AND SMALL BUSINESSES AND NONPROFITS LOCALLY, AS SANTA CRUZ COUNTY IS A COMMUNITY OF ENTREPRENEURIAL BUSINESSES AND NONPROFITS THAT OFTEN HAVE FEW OPTIONS AVAILABLE TO THEM FROM THE MAINSTREAM BANKING INDUSTRY. THE CREDIT UNION PROVIDES CONSUMER AND BUSINESS FINANCIAL PRODUCTS AND SERVICES GEARED TO SUPPORTING THE LOCAL COMMUNITY MEMBERS TO BE VIABLE AND SELF-SUFFICIENT IN THEIR FINANCIAL ENDEAVORS. SERVICES INCLUDING A VARIETY OF LOW AND NO-FEE CONSUMER AND BUSINESS CHECKING AND SAVINGS ACCOUNTS AS WELL AS IRA ACCOUNTS, MATRICULA CONSULAR, SECOND CHANCE CHECKING AND SAVINGS-SECURED LOANS THAT HAVE BEEN DESIGNED TO SERVE BOTH MODERATE AND LOW-INCOME COMMUNITY MEMBERS, OUR IMMIGRANT COMMUNITY AND THOSE LIVING IN STRUGGLING ECONOMIC AREAS. 0 0 1 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 1844 0 1 72 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X SYLVIA SANCHEZ CFO 8314602340 324 FRONT ST SANTA CRUZ CA 95060 MATT FARRELL CHAIRMAN 1.00 X 0 0 0 HOWARD SHERER BOARD SECRETARY 1.00 X 0 0 0 TAMMY PELSTRING BOARD TREASURER 1.00 X 0 0 0 AMI EBRIGHT BOARD MEMBER 1.00 X 0 0 0 PAZ PADILLA BOARD MEMBER 1.00 X 0 0 0 SYLVIA REYES BOARD MEMBER 1.00 X 0 0 0 NED VAN VALKENBURGH BOARD MEMBER 1.00 X 0 0 0 BONNIE LIPSCOMB ASSOCIATE 1.00 X 0 0 0 LINDA BROWN SUPV CMTE CHAIR 1.00 X 0 0 0 SUZANNE MACLEAN SUPV CMTE MEMBER 1.00 X 0 0 0 CHUCK HAHN SUPV CMTE MEMBER 1.00 X 0 0 0 ELIZABETH CARR CEO 40.00 X 853473 0 219277 ANNIE SONG FORMER CFO 40.00 X 100253 0 7250 KATIE FAIRBAIRN CXO 40.00 X 202758 0 7194 PAUL BARENFUS CLO 40.00 X 197813 0 7907 EVERADO MUNOZ FORMER COO 40.00 X 181603 0 18472 EDWARD CROSS JR CORE APPLICATION ARCHITECT 40.00 X 171387 0 0 JOSEPH L COFFMAN CTO 40.00 X 158528 0 7979 ALICIA KRETSCH FORMER COMMERCIAL LENDING MANAGER 40.00 X 143902 0 5746 JESUS BERUMEN DIR OF CONSUMER REAL ESTATE 40.00 X 121047 0 31652 LAURA OWEN DIR OF COMM. OUTREACH LEARN 40.00 X 120437 0 11676 LILLIANNE DYKSTRA FORMER SR APPLICATIONS ADMIN 40.00 X 120006 0 14433 JULIE JAQUITH FORMER CREDIT SUPPORT MANAGER 40.00 X 109240 0 13935 2480447 0 345521 12 0 1 0 NIELSON STUDIOS PO BOX 5407 SANTA CRUZ CA 95063 TENNANT IMPROVEMENTS 666247 SOUTHWEST STRATEGIC MARKETING 6552 FLY A WAY DRIVE DENVER NC 28037 MARKETING/ ADVERTISING SERVICES 173089 2 INTEREST ON LOANS 522100 8746683 8746683 FEE INCOME 522100 1115568 1093748 21820 OTHER OPERATING INCOME 522100 932774 932774 10795025 664292 664292 26603 16225 10378 10378 10378 OTHER NON-OPERATING INCOME 522100 1893405 1893405 1893405 13363100 13341280 21820 0 73776 2480447 2126636 109558 779797 369403 36652 105526 345696 265292 2225378 63671 884785 28318 1128746 222593 93526 CREDIT LOSS EXPENSE 585544 MISCELLANEOUS OPERATING 274699 LOAN SERVICING EXPENSE 177879 OPERATING FEES 25672 12403594 2047044 3800570 11571110 15257594 224590 351735 11386131 1889871 6072557 9496260 6165926 5313444 158390800 153983993 4185231 3736392 188657258 191939988 7313600 9685516 163978170 164453327 171291770 174138843 X 0 0 0 0 17365488 17801145 17365488 17801145 188657258 191939988 X 959506 22694 -546543 X X 0 1 X 1 0 1500 1500 1500 1 CCUL - PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 1500 PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE TO PROMOTE TRADE INFORMATION PERTAINING TO CREDIT UNIONS. 1135953 1135953 2161704 18135 2143569 879901 494697 385204 1397743 1163519 234224 5810830 213520 5597310 9496260 ALL OTHER INVESTMENTS 752600 F LOANS & LEASES 150564435 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 1471643 C PAID IN CAPITAL AT CORP 445315 C DEPOSITS IN COMMERCIAL BANKS, S&LS, SAVINGS BANKS 750000 C 153983993 MEMBER SHARES & DEPOSITS 162953327 SUBORDINATED DEBT 1500000 164453327 X 13361899 0 13361899 1201 1201 13363100 12402393 0 12402393 1201 1201 12403594 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, 2023 AND 2022. THE CREDIT UNION'S 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED AS REVENUE ITEM 1,201. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED AS REVENUE ITEM 1,201. 1 THE DIVERSITY CENTER OF SANTA CRUZ COUNTY 1117 SOQUEL AVE SANTA CRUZ SANTA CRUZ CA 95062 770212967 501(C)(3) 11500 0 FMV TO ENHANCE THE LIVES AND PROMOTE FAIRNESS FOR THE LESBIAN, GAY, BISEXUAL AND TRANSGENDER COMMUNITY. PAJARO VALLEY LOAVES & FISHES 150 SECOND STREET WATSONVILLE CA 95076 770319247 501(C)(3) 7000 0 FMV TO ASSIST PEOPLE IN THE PAJARO VALLEY WITH NUTRITIOUS FOOD, EDUCATION AND REFERRALS. 2 0 X 1 0 X X X X 1 1 0 ELIZABETH CARR CEO 283994 0 26546 0 542933 0 195857 0 23420 0 1072750 0 0 0 KATIE FAIRBAIRN CXO 181638 0 15120 0 6000 0 7194 0 0 0 209952 0 0 0 PAUL BARENFUS CLO 181518 0 10295 0 6000 0 7907 0 0 0 205720 0 0 0 EVERADO MUNOZ FORMER COO 157464 0 15120 0 9019 0 0 0 18472 0 200075 0 0 0 EDWARD CROSS JR CORE APPLICATION ARCHITECT 152511 0 13376 0 5500 0 0 0 0 0 171387 0 0 0 JOSEPH L COFFMAN CTO 151028 0 1500 0 6000 0 1352 0 6627 0 166507 0 0 0 JESUS BERUMEN DIR OF CONSUMER REAL ESTATE 114392 0 5184 0 1471 0 3872 0 27780 0 152699 0 0 0 PART I, LINES 4A-B THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN WITH THE PRESIDENT/CEO. THE CREDIT UNION CONTRIBUTES 100% OF THE FUNDS TO THE 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 $157,000 AS OF DECEMBER 31, 2023. DEFERRED COMPENSATION EXPENSES, INCLUDED IN COMPENSATION AND BENEFITS NON-INTEREST EXPENSE, WERE APPROXIMATELY $183,000 FOR THE YEAR ENDED DECEMBER 31, 2023. IN 2023, THE SECOND SCHEDULED BENEFIT PAYMENT WAS MADE ACCORDING TO THE TERMS OF THE AGREEMENT. LILLIANNE DYKSTRA,REPORTED ON PART VII AS AN HCE, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $46,672 IN 2023. 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 XI, LINE 9: CECL TRANSITIONAL AMOUNT (AS DETERMINED UNDER 702.703(B)) -546,543. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.