2024-10-30T19:23:34-05:00 2023-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2023-01-01 941242831 TRAVIS CREDIT UNION TRAV 7074691755 PO BOX 2069 VACAVILLE CA 95696 KEVIN MILLER CEO 7074691755 2024-10-25 1 1 VALENTINO CREUS CPA P01054153 8189549700 2023 2024-10-15 13:58:12Z KEVIN MILLER PO BOX 2069 VACAVILLE CA 95696 231189788 0 X WWW.TRAVISCU.ORG X CREDIT UNION 1951 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 796 12 296800 0 0 0 179915403 207077368 9861906 23105084 3522734 609010 193300043 230791462 200300 60000 0 0 64053527 69007304 0 0 0 98505918 132021277 162759745 201088581 30540298 29702881 4698766675 4934431346 4241273145 4436552162 457493530 497879184 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, TRAVIS 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 TRAVIS CREDIT UNION PROVIDES A VARIETY OF LOANS INCLUDING AUTO, MORTGAGES, CREDIT CARD, SMALL BUSINESS AND UNSECURED AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM MANAGE THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE. TRAVIS CREDIT UNION PROVIDES A VARIETY OF SAVINGS ACCOUNTS INCLUDING SAVINGS, DEMAND, MONEY MARKET, CERTIFICATES AND INVESTMENTS AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM MANAGE THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE. TRAVIS CREDIT UNION PROVIDES FINANCIAL SERVICES TO OUR MEMBERSHIP WHICH ARE SMALL BUSINESS OWNERS DEVELOPING THEIR OWN BUSINESSES IN THE COMMUNITY. THESE MEMBERS PROVIDE VALUED SERVICES AND EMPLOYMENT TO OUR COMMUNITY MEMBERS THEREBY PROVIDING FUTURE GROWTH AND A STRONGER QUALITY OF LIFE. 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 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 137607 0 1 796 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X HARDEEP KANGCPACONTROLLER 7074691755 PO BOX 2069 VACAVILLE CA 95696 DEBORAH ASPLING BOARD CHAIR 6.00 X 0 0 0 KEVIN BURKE BOARD VICE CHAIR 4.00 X 1021 0 0 MARY COBURN BOARD SECRETARY 4.00 X 630 0 0 DOUGLAS BEAUMONT BOARD TREASURER 4.00 X 630 0 0 TIM MURRILL BOARD MEMBER 4.00 X 630 0 0 LEONARD AUGUSTINE BOARD MEMBER 4.00 X 630 0 0 BRIAN HOWELL BOARD MEMBER 4.00 X 630 0 0 JAMES P KIRKLEY BOARD MEMBER 4.00 X 1833 0 0 RICHARD WORD BOARD MEMBER 4.00 X 630 0 0 TIMOTHY TRUESDALE SUPV CMTE CHAIRPERSON 4.00 X 1148 0 0 KARI MULHOLLAND SUPV CMTE MEMBER 4.00 X 1894 0 0 JOHANNA BENKER SUPV CMTE MEMBER 4.00 X 2033 0 0 KEVIN MILLER PRESIDENT/CEO 40.00 X 908743 0 499707 IVAN JONES SVP, CHIEF FINANCIAL OFFICER 40.00 X 451771 0 81177 MICHAEL JOSEPH LEVY SVP, GENERAL COUNSEL 40.00 X 343392 0 131981 SCOTT A NICHOLS SVP, CHIEF INFORMATION OFFICER 40.00 X 324566 0 149203 CATHERINE A JOHNSON-KOMINS SVP, CHIEF PEOPLE OFFICER 40.00 X 290344 0 112640 DOUGLAS G MARSHALL SVP, CHIEF MARKETING OFFICER 40.00 X 279446 0 131490 REVATI X RAO SVP, CHIEF LENDING OFFICER 40.00 X 260814 0 52176 ERIK C WAKEFIELD SVP, OPERATIONS 40.00 X 230662 0 32095 DENA M ROTHMANN MANAGING VP, RETAIL & BRANCH BANKING 40.00 X 439850 0 35485 ARIC N KOSHIYAMA WEALTH ADVISOR 40.00 X 417278 0 29761 MATTHEW PROSNESKI VP, RETAIL OPERATIONS 40.00 X 313273 0 44273 GRANT D KARSAS VP, DIGITAL SERVICES 40.00 X 281502 0 21112 CYNTHIA MCGUIRE VP, LENDING OPERATIONS 40.00 X 279108 0 37000 4832458 0 1358100 53 0 1 0 FISERV INC 600 N VEL R PHILLIPS AVE MILWAUKEE WI 53203 ONLINE BANKING SERVICES 3495792 LEVEL5 LLC 2018 POWERS FERRY RD SE STE 750 ATLANTA GA 30339 BRANCH CONSTRUCTION 3354411 SMART SOURCE LLC 7270 MCGINNIS FERRY RD SUWANEE GA 30024 MEMBER STATEMENTS 2212591 SALESFORCE PO BOX 203141 DALLAS TX 75320 SOFTWARE SERVICES 2067046 AMF MEDIA GROUP 11766 WILSHIRE BLVD 9TH FLOOR LOS ANGELES CA 90025 ADVERTISING 1987259 81 INTEREST ON LOANS 522100 169413224 169413224 OTHER OPERATING INCOME 522100 25886206 25864973 21233 FEE INCOME 522100 11777938 11502371 275567 207077368 23179926 23179926 323484 398326 -74842 -74842 -74842 OTHER NON-OPERATING IN 522100 564846 564846 GAIN ON SALES OF LOANS 522100 44164 44164 609010 230791462 230494662 296800 0 20000 40000 4832458 49847877 2263923 7873061 4189985 1189114 386574 1678183 3402247 18287406 12478748 4925874 959413 49178306 3227163 183921 PROVISION FOR CREDIT LO 24639425 LOAN SERVICING EXPENSE 8740131 MISC OPERATING EXPENSES 2279720 OPERATING FEES 461533 3519 201088581 28369786 37244811 260988896 252737812 5852265 3599996 7088018 7262709 87494865 48560548 37115573 38934317 468713211 472196974 3842528346 4057422829 48110580 65031898 4698766675 4934431346 43461096 45980812 4197812049 4390571350 4241273145 4436552162 X 0 0 0 0 457493530 497879184 457493530 497879184 4698766675 4934431346 X 29702881 16810106 -6127333 X X 0 1 X 1 0 5000 5000 5000 1 CCUL-PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 940357265 5000 PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE TO PROMOTE TRADE INFORMATION PERTAINING TO CREDIT UNIONS. 7626767 7626767 37447385 18453519 18993866 7204022 6994385 209637 35216691 23112644 12104047 38934317 ALL OTHER INVESTMENTS 15000000 F LOANS HELD FOR SALE 174000 F LOANS & LEASES 4006933831 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 35314998 C 4057422829 MEMBER SHARES & DEPOSITS 4090571350 BORROWINGS 300000000 4390571350 X 230692944 -98518 -98518 230791462 0 230791462 200990063 -98518 -98518 201088581 0 201088581 PART X, LINE 2: 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, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION -98,518. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION -98,518. 1 TRAVIS LOGISTICS OFFICER ASSOC 501 HANGER AVE TRAVIS AFB CA 94535 680439666 501(C)(3) 10000 0 FMV TO SUPPORT THE UNITED STATES AIR FORCE BY PROVIDING EDUCATIONAL OPPORTUNITIES WITH AN EMPHASIS ON STRATEGIC ENGAGEMENT TO THE TRAVIS AFB LOGISTICS COMMUNITY. 1 0 SCHOLARSHIPS 20 40000 FMV X 1 1 X X X X 1 1 0 KEVIN MILLER PRESIDENT/CEO 693339 0 204750 0 10654 0 467081 0 32626 0 1408450 0 0 0 IVAN JONES SVP, CHIEF FINANCIAL OFFICER 393062 0 51605 0 7104 0 77946 0 3231 0 532948 0 0 0 MICHAEL JOSEPH LEVY SVP, GENERAL COUNSEL 300141 0 35187 0 8064 0 131374 0 607 0 475373 0 0 0 SCOTT A NICHOLS SVP, CHIEF INFORMATION OFFICER 281784 0 35678 0 7104 0 130713 0 18490 0 473769 0 0 0 CATHERINE A JOHNSON-KOMINS SVP, CHIEF PEOPLE OFFICER 281877 0 1363 0 7104 0 112033 0 607 0 402984 0 0 0 DOUGLAS G MARSHALL SVP, CHIEF MARKETING OFFICER 270278 0 0 0 9168 0 110646 0 20844 0 410936 0 0 0 REVATI X RAO SVP, CHIEF LENDING OFFICER 218793 0 37500 0 4521 0 21933 0 30243 0 312990 0 0 0 ERIK C WAKEFIELD SVP, OPERATIONS 189940 0 40000 0 722 0 9510 0 22585 0 262757 0 0 0 DENA M ROTHMANN MANAGING VP, RETAIL & BRANCH BANKING 271786 0 35627 0 132437 0 24864 0 10621 0 475335 0 0 0 ARIC N KOSHIYAMA WEALTH ADVISOR 60303 0 356619 0 356 0 16500 0 13261 0 447039 0 0 0 MATTHEW PROSNESKI VP, RETAIL OPERATIONS 164854 0 19452 0 128967 0 17190 0 27083 0 357546 0 0 0 GRANT D KARSAS VP, DIGITAL SERVICES 258176 0 22846 0 480 0 20505 0 607 0 302614 0 0 0 CYNTHIA MCGUIRE VP, LENDING OPERATIONS 245631 0 24209 0 9268 0 24654 0 12346 0 316108 0 0 0 PART I, LINES 4A-B MATTHEW PROSNESKI RECEIVED SEVERANCE PAYMENT DURING THE TAX YEAR 2023. 457(B): THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR SENIOR MANAGEMENT.THE CREDIT UNION MAKES DISCRETIONARY CONTRIBUTIONS TO THE PLAN AND EMPLOYEES ARE ALLOWED TO CONTRIBUTE TO THE PLAN. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE DEFERRED COMPENSATION ARRANGEMENTS, INCLUDED IN OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES, WAS APPROXIMATELY $8,289,000 AND $7,614,000 AS OF DECEMBER 31,2023 AND 2022, RESPECTIVELY. DEFERRED COMPENSATION EXPENSE WAS APPROXIMATELY $416,000 AND $359,000 FOR YEARS ENDED DECEMBER 31,2023 AND 2022,RESPECTIVELY. 457(F): THE CREDIT UNION ESTABLISHED AN UNFUNDED EXECUTIVE RETENTION PAYMENT PLAN FOR CERTAIN KEY MEMBERS OF MANAGEMENT. THE PLAN PROVIDES A RETENTION PAYMENT IN THE AMOUNT SPECIFIED IN THE PARTICIPATION AGREEMENT FOR REMAINING EMPLOYED WITH THE CREDIT UNION UNTIL THE CLIFF VESTING DATE FOR SUCH PAYMENT. IF THE EXECUTIVE ELECTS TO DEFER THE CLIFF VESTING DATE, THE CREDIT UNION WILL CREDIT INTEREST, AT A RATE SPECIFIED IN THE PARTICIPATION AGREEMENT, ON THE DEFERRED BALANCE STARTING ON THE ORIGINAL DEFERRED VESTING DATE, COMPOUNDED ANNUALLY TO THE DATE OF PAYMENT. THE CREDIT UNION'S LIABILITY UNDER THE EXECUTIVE RETENTION PAYMENT PLAN WAS APPROXIMATELY $1,217,000 AND $870,000 AS OF DECEMBER 31, 2023 AND 2022, RESPECTIVELY. THE COSTS ASSOCIATED WITH THE PLAN TOTALED APPROXIMATELY $459,000 AND $0 FOR THE YEAR ENDED DECEMBER 31, 2023 AND 2022, RESPECTIVELY.THE PLAN HAD A NET GAIN OF APPROXIMATELY $2,127,000 FOR THE YEAR ENDED DECEMBER 31, 2022, DUE TO THE DEPARTURE OF SEVERAL PARTICIPANTS. SEE PART V OFFICER FIRST MORTGAGE X 560000 439156 0 1 1 SEE PART V OFFICER FIRST MORTGAGE X 377600 353888 0 1 1 SEE PART V HCE HELOC X 68737 94605 0 1 1 SEE PART V HCE SIGNATURE LOAN X 36947 17788 0 1 1 SEE PART V HCE AUTOMOBILE X 68573 54222 0 1 1 SEE PART V HCE FIRST MORTGAGE X 33054 28368 0 1 1 SEE PART V HCE FIRST MORTGAGE X 143000 75375 0 1 1 SEE PART V DIRECTOR CREDIT CARD X 0 874 0 1 1 SEE PART V HCE AUTOMOBILE X 50810 38566 0 1 1 SEE PART V HCE FIRST MORTGAGE X 503500 492388 0 1 1 SEE PART V HCE CREDIT CARD X 0 1607 0 1 1 SEE PART V DIRECTOR FIRST MORTGAGE X 399999 374672 0 1 1 SEE PART V DIRECTOR HELOC X 0 37618 0 1 1 SEE PART V DIRECTOR FIRST MORTGAGE X 425000 402301 0 1 1 SEE PART V DIRECTOR AUTOMOBILE X 33968 26076 0 1 1 SEE PART V DIRECTOR FIRST MORTGAGE X 150000 74037 0 1 1 SEE PART V DIRECTOR HELOC X 0 90338 0 1 1 SEE PART V DIRECTOR AUTOMOBILE X 25005 6268 0 1 1 SEE PART V DIRECTOR AUTOMOBILE X 19309 13734 0 1 1 SEE PART V OFFICER FIRST MORTGAGE X 960000 933151 0 1 1 SEE PART V KEY EMPLOYEE AUTOMOBILE X 52364 44964 0 1 1 3599996 SCH L PART V DUE TO THE SENSITIVE NATURE OF THIS INFORMATION, PLEASE BE ADVISED THAT THE DETAILS RELATED TO OFFICER LOANS ARE MAINTAINED IN ACCORDANCE WITH OUR INTERNAL RECORDS MANAGEMENT PROCEDURES AND ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION A, LINE 6 TRAVIS 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. TRAVIS CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF TRAVIS 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 EACH BOARD MEMBER SHALL RECEIVE A COMPLETED DRAFT OF THE FORM 990 FOR REVIEW PRIOR TO FILING EACH YEAR. FORM 990, PART VI, SECTION B, LINE 12C ON A MONTHLY BASIS, MEMBERS OF THE BOARD ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST OR CONCERNS AND RECUSE THEMSELVES WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 TRAVIS CREDIT UNION PARTICIPATES IN FOUR TO FIVE NATIONAL AND INDUSTRY SPECIFIC SURVEYS TO BENCHMARK BASE SALARY, BONUS AND RETIREMENT BENEFITS FOR ALL KEY EMPLOYEES, SALARIED EMPLOYEES, TO INCLUDE THE CEO, EVP, AND ALL VPS. THESE SURVEYS ARE CONDUCTED AT LEAST ANNUALLY. THE GOVERNING BOARD APPROVES THE CEO'S COMPENSATION PACKAGE AFTER IT HAS BEEN THOROUGHLY REVIEWED AND RECOMMENDED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE CONFLICT OF INTEREST POLICY IS INCLUDED IN OUR CORPORATE BYLAWS, OUR GOVERNING DOCUMENTS, WHICH ARE AVAILABLE UPON REQUEST. OUR MONTHLY FINANCIAL STATEMENTS ARE DISPLAYED AT ALL OF OUR BRANCH LOCATIONS AS WELL AS CORPORATE HEADQUARTERS. OUR YEAR END AUDITED FINANCIAL STATEMENTS ARE PRESENTED IN OUR ANNUAL MEETING AND WE FILE OUR CALL REPORTS ON A QUARTERLY BASIS WITH THE NCUA AND DBO. FORM 990, PART XI, LINE 9: CECL TRANSITIONAL AMOUNT (AS DETERMINED UNDER 702.703(B)) -6,127,333. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. TRAVIS CREDIT UNION FOUNDATION 1 TRAVIS WAY VACAVILLE CA 95687 824159040 ADVOCATE FINANCIAL EDUCATION AND LITERACY IN OUR COMMUNITY CA 501(C)(3) LINE 7 TRAVIS CREDIT UNION 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 TRAVIS CREDIT UNION FOUNDATION L 29991 COST TRAVIS CREDIT UNION FOUNDATION O 103775 COST