2024-09-19T17:41:48-05:00 2023-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2023-01-01 950951410 CALIFORNIA CREDIT UNION CRED 8182915522 701 NORTH BRAND BLVD 7TH FLOOR GLENDALE CA 91203 MARK LOVEWELL EVP CFO 8182915522 2024-09-19 1 1 VALENTINO CREUS CPA P01054153 8189549700 2023 2024-08-08 14:25:15Z STEVEN O'CONNELL 701 NORTH BRAND BLVD 7TH FLOOR GLENDALE CA 91203 204877574 0 X WWW.CALIFORNIACU.ORG X CREDIT UNION 1939 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 11 11 628 16 984749 0 0 0 107341932 140463666 31808522 47527062 13558103 16859910 152708557 204850638 135350 123791 0 0 63669452 64549421 0 0 0 65481642 120317227 129286444 184990439 23422113 19860199 4561740327 4876733268 4296560656 4579717849 265179671 297015419 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, CALIFORNIA 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. 0 0 WE CONCLUDED ANOTHER SUCCESSFUL YEAR SERVING OUR MEMBERS IN 2023. AT CALIFORNIA CREDIT UNION, WE WERE PROUD TO CONTINUE SUPPORTING OUR MEMBERS AND COMMUNITIES BY HELPING THEM ACHIEVE THEIR FINANCIAL GOALS. ADDING NEW MEMBER VALUE HAS ALWAYS BEEN A KEY PRIORITY AND WE CONTINUED TO DELIVER BY EXPANDING OUR CHARTER ACROSS SOUTHERN CALIFORNIA IN 2023, WELCOMING ANYONE WHO LIVES, WORKS, WORSHIPS, ATTENDS SCHOOL OR HAS BUSINESS IN SAN DIEGO, RIVERSIDE, LOS ANGELES, ORANGE, SAN BERNARDINO AND VENTURA COUNTIES, AS WELL AS SCHOOL EMPLOYEES THROUGHOUT THE STATE. WE WERE ALSO PROUD TO BE CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), A DESIGNATION ONLY GIVEN TO ORGANIZATIONS PROVEN TO PROVIDE FINANCIAL SERVICES IN COMMUNITIES THAT HAVE HISTORICALLY LACKED ACCESS TO TRADITIONAL BANKING SERVICES. IN ADDITION, OUR OPTION CHECKING ACCOUNT WAS BANK ON CERTIFIED BY THE CITIES FOR FINANCIAL EMPOWERMENT FUND, BRINGING SAFE AND AFFORDABLE ACCESS TO BANKING FOR UNBANKED, UNDERBANKED AND UNDERSERVED COMMUNITY MEMBERS IN SOUTHERN CALIFORNIA. IN 2023, OUR FINANCIAL LITERACY PROGRAMS REACHED 31,000 PROVIDING 40 FINANCIAL EDUCATION MODULES TO ALL MEMBERS AND WEBSITE VISITORS FOR FREE AS WELL AS OFFERING FINANCIAL LITERACY PROGRAMS IN PARTNERSHIP WITH GREENPATH FINANCIAL WELLNESS AND A BITE OF REALITY CALIFORNIA CREDIT UNION REMAINED COMMITTED TO SUPPORTING OUR COMMUNITIES BY INVESTING OVER $720,000 INTO NEW PARTNERSHIPS, EMPLOYEE VOLUNTEERISM, AND INDUSTRY ADVOCACY OPPORTUNITIES. WE ENTERED INTO A NEW PARTNERSHIP WITH THE LOS ANGELES ZOO WHOSE FOCUS ON FAMILIES AND EDUCATION DIRECTLY ALIGNS WITH OUR GOALS AND PURPOSE IN THE LA MARKET. THIS NEW PARTNERSHIP PROVIDES GREAT EXPOSURE TO THE ZOO'S NEARLY 1.8 MILLION ANNUAL VISITORS, AS WELL AS ALLOW FOR ONSITE ACTIVATIONS FOR NEW MEMBERSHIPS, EDUCATIONAL SUPPORT FOR UNDERSERVED SCHOOLS, COMMUNITY GIVING AND VOLUNTEER OPPORTUNITIES. IN 2023, OUR EMPLOYEES SERVED AS VOLUNTEERS ON 19 EDUCATION AND COMMUNITY FOUNDATION BOARDS ACROSS SOUTHERN CALIFORNIA. AND, OUR STAFF CAME TOGETHER TO BUILD HOMES FOR HABITAT FOR HUMANITY, WORK AT THE SAN DIEGO PRIDE FESTIVAL, PARTICIPATE IN THE NAVY'S 36TH BAY BRIDGE RUN, DISTRIBUTE SCHOOL SUPPLIES, AND MUCH MORE. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 102261 0 1 628 1 1 1 0 0 0 0 0 0 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X SAM NOP VP CONTROLLER 8182915525 701 NORTH BRAND BLVD 7 FL GLENDALE CA 91203 WALTON GREENE CHAIRMAN 1.00 X 0 0 0 PAMELA FEES VICE CHAIRPERSON 1.00 X 0 0 0 REBECCA COLLIER BOARD SECRETARY 1.00 X 0 0 0 JEFF STONE BOARD TREASURER 1.00 X 0 0 0 JAMES DOYLE BOARD MEMBER 1.00 X 0 0 0 VICTOR HANSON BOARD MEMBER 1.00 X 2420 0 0 TED FUJIMOTO BOARD MEMBER 1.00 X 0 0 0 SURVIVA MENDOZA BOARD MEMBER 1.00 X 0 0 0 FREDRIC NIGRO BOARD MEMBER 1.00 X 0 0 0 EMMANUEL OLAES BOARD MEMBER 1.00 X 1887 0 0 MARCIA WADE BOARD MEMBER 1.00 X 0 0 0 GUILBERT HENTSCHKE SUPERVISORY COMMITTEE CHAIRMAN 1.00 X 2424 0 0 JANALYN GLYMPH SUPERVISORY COMMITTEE SECRETARY 1.00 X 0 0 0 WILLIAM KALEY SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 ROGER MCTIGHE SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 SCOTT J SVONKIN SUPERVISORY COMMITTEE MEMBER 1.00 X 952 0 0 STEVEN O'CONNELL PRESIDENT, CEO 40.00 X 1102184 0 54494 MARK LOVEWELL EVP, CFO AND PRESIDENT OF CUSO OPS 40.00 X 611598 0 77849 ROBERT O'GRADY EVP, CHIEF OPERATING OFFICER 40.00 X 775038 0 42975 HUDSON LEE EVP, CHIEF RISK OFFICER 40.00 X 572293 0 47129 JOHN BRETTHAUER EVP, CHIEF ADMINISTRATIVE OFFICER 40.00 X 553389 0 54494 RICHARD HUBENY EVP, CHIEF LENDING OFFICER 40.00 X 458090 0 75302 PATRICK ZARIFIAN SVP, CHIEF EXPERIENCE OFFICER 40.00 X 429026 0 54494 DIANE MADISON-JAMMAL SVP, CHIEF INNOVATION OFFICER 40.00 X 380614 0 58523 CHARLES LACUESTA SVP, CHIEF INFORMATION OFFICER 40.00 X 355771 0 31698 JILL VASANT SVP, CHIEF MARKETING OFFICER 40.00 X 338591 0 51170 IRMA A JIMENEZ VP, MORTGAGE LOAN OFFICER 40.00 X 965260 0 53680 KEVIN ANDREW WITOWICH FINANCIAL ADVISOR 40.00 X 552852 0 50447 MIGUEL KASSEM VP, MORTGAGE LOAN OFFICER 40.00 X 492107 0 65358 MARGARET VOSKANIAN VP, MORTGAGE LOAN OFFICER 40.00 X 411788 0 38659 BRIAN JAMES VENN VP, PROGRAM MANAGER 40.00 X 368425 0 52747 8374709 0 809019 131 0 1 0 WINLY COMMUNICATIONS 1195 E TOPEKA ST PASADENA CA 91104 COMMUNICATION SERVICES 173605 1 INTEREST ON LOANS 522100 117463753 117463753 FEE INCOME 522100 13682446 13554815 127631 OTHER OPERATING INCOME 522100 9317467 8460349 857118 140463666 47518407 47518407 35591 26936 8655 8655 8655 OTHER NON-INTEREST INC 522100 16681625 16681625 GAIN ON SALE OF LOANS 522100 178285 178285 16859910 204850638 203865889 984749 0 103791 20000 8374709 43627111 2683257 6471018 3393326 518796 2925470 6850987 15152975 9969723 10371070 826052 49782578 8128564 191278 MISCELLANEOUS EXPENSE 5505146 PROVISION FOR LOAN LOSS 5039401 LOAN SERVICING 4580887 OPERATING FEES 465272 9028 184990439 53261284 44434316 449317109 432905302 15166786 15418166 4881299 5149659 219536640 101357225 118790730 118179415 1293392624 1182194816 2536662258 2985258890 23205260 23194498 67062977 69998206 4561740327 4876733268 67141358 79124331 4229419298 4500593518 4296560656 4579717849 X 0 0 0 0 265179671 297015419 265179671 297015419 4561740327 4876733268 X 19860199 27252123 -15276574 X X 0 1 X 1 0 21542 21542 21542 1 PHILLIP CHEN FOR ASSEMBLY 2024 18340 YORBA LINDA BLVD 107-601 YORBA LINDA CA 92886 500 CALIFORNIA CREDIT UNION LEAGUE PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 8000 SAN DIEGO CREDIT UNIONS' PAC 5890 PACIFIC CENTER BLVD SAN DIEGO CA 92123 5542 SABRINA CERVANTES FOR SENATE 2024 1100 O STREET SUITE 200 SACRAMENTO CA 95814 2500 CONSUMERS FOR TOM UMBERG 249 E OCEAN BLVD 670 LONG BEACH CA 90802 1500 BLANCA RUBIO FOR ASSEMBLY 2024 921 11TH STREET SUITE 904 SACRAMENTO CA 95841 1000 ROSILICIE OCHOA-BOGH FOR SENATE 9460 TEGNER ROAD HILMAR CA 95324 2500 37604419 37604419 90225971 32895129 57330842 31748958 21108041 10640917 57778460 47354055 10424405 2178832 2178832 118179415 PAID-IN CAPITAL AT CORP 1500000 C ALL OTHER INVESTMENTS 15200000 F NET LOANS & LEASES 2933802985 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 34755905 C 2985258890 TOTAL SHARES & DEPOSITS 4235940901 DIVIDENDS PAYABLE 4652617 BORROWINGS 260000000 4500593518 X PART X, LINE 2: ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, MANAGEMENT HAS DETERMINED THAT THE CREDIT UNION HAS NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. 1 SAN DIEGO AIR & SPACE MUSEUM 2001 PAN AMERICAN PLAZA SAN DIEGO CA 92101 952253027 501(C)(3) 7500 0 FMV TO SUPPORT THE MUSEUM'S YOUTH EDUCATION PROGRAMS. SAN DIEGO FLEET WEEK FOUNDATION 5330 NAPA STREET STE A SAN DIEGO CA 92110 330965545 501(C)(3) 7500 0 FMV TO HONOR THE MEN AND WOMEN OF THE MILITARY THROUGH UNIQUE PATRIOTIC EVENTS WHILE INTERACTING WITH MILITARY AND COMMUNITY LEADERS. USS MIDWAY MUSEUM 910 NORTH HARBOR DRIVE SAN DIEGO CA 92101 330556416 501(C)(3) 15000 0 FMV IN SUPPORT OF MIDWAY'S STEM FIELD TRIP PROGRAM AND THE NO CHILD LEFT ASHORE SCHOLARSHIP FUND. 3 SCHOLARSHIPS 20 20000 FMV X X 1 1 X X X X X 0 1 0 STEVEN O'CONNELL PRESIDENT, CEO 801923 0 172088 0 128173 0 19800 0 34694 0 1156678 0 0 0 MARK LOVEWELL EVP, CFO AND PRESIDENT OF CUSO OPS 478890 0 115590 0 17118 0 43155 0 34694 0 689447 0 0 0 ROBERT O'GRADY EVP, CHIEF OPERATING OFFICER 579522 0 135849 0 59667 0 19800 0 23175 0 818013 0 0 0 HUDSON LEE EVP, CHIEF RISK OFFICER 432156 0 89503 0 50634 0 23954 0 23175 0 619422 0 0 0 JOHN BRETTHAUER EVP, CHIEF ADMINISTRATIVE OFFICER 419691 0 88214 0 45484 0 19800 0 34694 0 607883 0 0 0 RICHARD HUBENY EVP, CHIEF LENDING OFFICER 355724 0 61347 0 41019 0 42300 0 33002 0 533392 0 0 0 PATRICK ZARIFIAN SVP, CHIEF EXPERIENCE OFFICER 335750 0 56576 0 36700 0 19800 0 34694 0 483520 0 0 0 DIANE MADISON-JAMMAL SVP, CHIEF INNOVATION OFFICER 317101 0 45889 0 17624 0 35556 0 22967 0 439137 0 0 0 CHARLES LACUESTA SVP, CHIEF INFORMATION OFFICER 296830 0 49078 0 9863 0 16998 0 14700 0 387469 0 0 0 JILL VASANT SVP, CHIEF MARKETING OFFICER 282586 0 46530 0 9475 0 39790 0 11380 0 389761 0 0 0 IRMA A JIMENEZ VP, MORTGAGE LOAN OFFICER 31453 0 925581 0 8226 0 42300 0 11380 0 1018940 0 0 0 KEVIN ANDREW WITOWICH FINANCIAL ADVISOR 126260 0 426213 0 379 0 19800 0 30647 0 603299 0 0 0 MIGUEL KASSEM VP, MORTGAGE LOAN OFFICER 26724 0 452243 0 13140 0 42300 0 23058 0 557465 0 0 0 MARGARET VOSKANIAN VP, MORTGAGE LOAN OFFICER 27025 0 373276 0 11487 0 16623 0 22036 0 450447 0 0 0 BRIAN JAMES VENN VP, PROGRAM MANAGER 151554 0 196579 0 20292 0 18052 0 34695 0 421172 0 0 0 PART I, LINE 1A COMPANION TRAVEL IS REPORTED AS NONEMPLOYEE COMPENSATION ON FORM 1099-MISC ISSUED TO THE COMPANION. PART I, LINE 4B THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN EXECUTIVES UNDER IRC SECTION 457(F). TO SUPPORT THE DEFERRED COMPENSATION PLAN, THE CREDIT UNION HAS ELECTED TO PURCHASE CREDIT UNION-OWNED VARIABLE LIFE INSURANCE AND VARIABLE ANNUITIES. THE SURRENDER VALUE OF THESE INVESTMENTS, INCLUDED IN OTHER ASSETS, WAS $8.5 MILLION AND $7.4 MILLION AS OF DECEMBER 31, 2023 AND 2022, RESPECTIVELY. THE CURRENT PARTICIPANTS ARE MARK LOVEWELL, JOHN BRETTHAUER, ROBERT O'GRADY, AND HUDSON LEE. CHARLES LACUESTA KEY EMPLOYEE 1ST TD MTG X 305000 129385 0 1 1 CHARLES LACUESTA KEY EMPLOYEE HELOC X 250000 113116 0 1 1 MARK LOVEWELL OFFICER 1ST TD MTG X 1148000 891331 0 1 1 HUDSON LEE OFFICER 1ST TD MTG X 875000 712218 0 1 1 STEVEN O'CONNELL OFFICER 1ST TD MTG X 1065000 1057063 0 1 1 STEVEN O'CONNELL OFFICER 1ST TD MTG X 465500 449976 0 1 1 STEVEN O'CONNELL OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 12800000 12065077 0 1 1 15418166 FORM 990, PART VI, SECTION A, LINE 6 CALIFORNIA 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. CALIFORNIA CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF CALIFORNIA 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 THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. COMPLETED FORM IS REVIEWED BY MANAGEMENT AND A COPY IS PROVIDED TO THE BOARD OF DIRECTORS FOR INFORMATIONAL PURPOSES PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THERE ARE REGULAR COMPLIANCE REVIEWS BY THE CREDIT UNION'S COMPLIANCE OFFICER WHICH ADDRESSES COMPLIANCE WITH ALL CREDIT UNION POLICIES. IN ADDITION, REGULATORS AND CPA'S MONITOR COMPLIANCE DURING THEIR PERIODIC AND ANNUAL AUDITS. FORM 990, PART VI, SECTION B, LINE 15 THE VICE PRESIDENT OF HUMAN RESOURCES CONTRACTS WITH EXTERNAL CONSULTING COMPANY, HRN PERFORMANCE SOLUTIONS, WHO PROVIDES MARKET SURVEYS ON COMPENSATION FOR KEY OFFICERS. COMPENSATION COMMITTEE REVIEWS AND APPROVES THE RESULTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO MEMBERS UPON REQUEST BY PROVIDING PAPER OR ELECTRONIC COPIES BY WHICHEVER MEANS REQUESTED. FORM 990, PART XI, LINE 9: CECL TRANSITIONAL AMOUNT (AS DETERMINED UNDER 702.703(B)) -15,276,571. ROUNDING -3. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. CALIFORNIA MEMBERS TITLE INSURANCE COMPANY 701 NORTH BRAND BLVD 7TH FLOOR GLENDALE CA 91203 465751336 INSURANCE SERVICES CA CALIFORNIA MEMBERS HOLDING COMPANY C -1806740 1578691 1.00000 1 CALIFORNIA MEMBERS HOLDING COMPANY 701 NORTH BRAND BLVD 7TH FLOOR GLENDALE CA 91203 465739707 FINANCIAL SERVICES CA CALIFORNIA CREDIT UNION C 3363756 1.00000 1 CALIFORNIA MEMBERS TITLE COMPANY 701 NORTH BRAND BLVD 7TH FLOOR GLENDALE CA 91203 352589911 INSURANCE SERVICES CA CALIFORNIA CREDIT UNION C 1508952 943252 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 CALIFORNIA MEMBERS TITLE INSURANCE COMPANY P 3042737 ACTUAL AMOUNT PAID CALIFORNIA MEMBERS TITLE INSURANCE COMPANY O 52292 ACTUAL AMOUNT PAID CALIFORNIA MEMBERS TITLE INSURANCE COMPANY A 115321 ACTUAL AMOUNT PAID