2024-12-16T17:40:56-06:00 2024-01-19 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2024-01-01 952015359 COASTHILLS CREDIT UNION COAS 8057337600 1075 E BETTERAVIA SANTA MARIA CA 93454 DENNIS DURFEE EVP, CHIEF FINANCIAL OFFICER 8057337600 2024-12-16 1 1 MELISSA HANGSLEBEN P02087031 6022662248 2024-12-16 2023 2024-10-15 13:58:12Z X JAMES LEDFORD 1075 E BETTERAVIA SANTA MARIA CA 93454 4968694 0 X WWW.COASTHILLS.COOP X 1958 CA MAKING A POSITIVE DIFFERENCE IN OUR NEIGHBORS' LIVES BY SERVING MEMBERS WITH FINANCIAL PRODUCTS AND SUPERIOR CUSTOMER SERVICE TO HELP THEM ACHIEVE THEIR FINANCIAL GOALS. X 9 9 0 17 9416 0 2911839 0 85854598 4452216 7518751 411427 -415731 -42169 95869457 4821474 379162 48750 15559524 1164799 31411204 1640338 0 0 0 44454243 2191755 91804133 5045642 4065324 -224168 1783506274 0 1652452034 0 131054240 0 MAKING A POSITIVE DIFFERENCE IN OUR NEIGHBORS' LIVES. 0 0 SINCE 1958, COASTHILLS CREDIT UNION HAS BEEN IMPROVING THE FINANCIAL WELL BEING OF CENTRAL COAST FAMILIES WITH LOAN AND DEPOSIT PRODUCTS WITH LOWER FEES AND BETTER RATES THAN MOST BANKS. THE CREDIT UNION SERVES OVER 76,000 MEMBERS IN VENTURA, SANTA BARBARA, SAN LUIS OBISPO, MONTEREY, AND SANTA CRUZ COUNTIES.AS OF JANUARY 19, 2024, COASTHILLS CREDIT UNION TRANSITIONED TO A FEDERAL CREDIT UNION. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CA X DENNIS DURFEE 8057337600 1075 E BETTERAVIA SANTA MARIA CA 93454 PAUL C COOK CEO/PRESIDENT 40.00 0.00 X 48466 0 5025 DENNIS DURFEE EVP, CHIEF FINANCIAL OFFICER 40.00 0.00 X 37046 0 4987 KRISTOPHER L ANDREWS CHAIRMAN 6.00 0.00 X X 0 0 0 HOMERO CONTRERAS VICE CHAIRMAN 6.00 0.00 X X 0 0 0 JEREMY MORENO TREASURER 6.00 0.00 X X 0 0 0 BERNARD E JONES SECRETARY 6.00 0.00 X X 0 0 0 JEANNE PIPER DIRECTOR 6.00 0.00 X 0 0 0 R BRUCE COGGIN DIRECTOR 6.00 0.00 X 0 0 0 ARTHUR C SCHEITHAUR JR DIRECTOR 6.00 0.00 X 0 0 0 EARL MURRAY DIRECTOR 6.00 0.00 X 0 0 0 WILLIAM H ANDERS DIRECTOR 6.00 0.00 X 0 0 0 85512 0 10012 0 0 0 0 RK BUILDERS INC 7343 EL CAMINO REAL 116 ATASCADERO CA 93422 REMODELING LABOR 315236 DIGITAL WEST PO BOX 31001-2714 PASADENA CA 91110 NETWORK SERVICE PROVIDER 110846 2 INTEREST ON LOANS TO MEMBERS 522100 3506535 3506535 INTERCHANGE INCOME 522100 323847 323847 FEES AND CHARGES 522100 235827 227038 8789 COURTESY PAY PROGRAM FEES 522100 161257 161257 OTHER NONINTEREST INCOME 522100 126684 126684 98066 97439 627 4452216 483079 483079 32114 74283 -42169 -42169 -42169 1285 72937 -71652 -71652 -71652 4821474 4442800 9416 369258 48750 1164799 95524 1023633 63160 348826 109195 24460 23212 130886 6906 144422 143915 146779 29217 22501 419994 109801 24877 PROVISION FOR LOAN LOSS 474029 PROCESSING EXPENSES 229907 REMOTE ACCESS FEES 143416 MEMBER EXPENSES 63135 54298 5045642 24624879 0 100062952 0 0 2096711 0 16803848 0 0 1265471456 0 0 2101402 0 0 0 43213423 0 49672846 0 223051124 0 0 0 56407633 0 1783506274 0 10899769 0 0 0 0 0 0 207500000 0 0 1434052265 0 1652452034 0 X 0 0 0 0 131054240 0 131054240 0 1783506274 0 X -224168 -130830072 X 0 0 0 1 ORCUTT NATIONAL LITTLE LEAGUE PO BOX 2302 ORCUTT CA 93457 770058205 501(C)(3) 10000 0 GENERAL SUPPORT AT STILL UNIVERSITY OF HEALTH SCIENCES 800 W JEFFERSON STREET KIRKSVILLE MO 63501 430356250 501(C)(3) 30000 0 GENERAL SUPPORT 2 0 PART I, LINE 2: COASTHILLS VERIFIES THE STATUS OF THE ORGANIZATION AS A REGISTERED 501(C)(3) OR OTHER TAX EXEMPT ORGANIZATION. OTHERWISE, WE IN GOOD FAITH ASSUME THAT THE ORGANIZATION IS USING THE FUNDS AS IT SAID IT WOULD, WHETHER IN ITS SPECIFIC REQUEST TO THE CREDIT UNION OR OTHER PUBLIC STATEMENTS. TRANSFER OF NET ASSETS 2024-01-19 130830072 BOOK VALUE 952015359 COASTHILLS FEDERAL CREDIT UNION 1075 E BETTERAVIA SANTA MARIA CA 93454 501(C)(1) 1 0 0 0 1 1 1 1 0 PART I, LINE 2E: PERSON(S) INVOLVED: PAUL C. COOK, CEO/PRESIDENTDENNIS DURFEE, EVP, CHIEF FINANCIAL OFFICERKRISTOPHER L. ANDREWS, CHARIMAN OF THE BOARDHOMERO CONTRERAS, VICE CHAIRMAN OF THE BOARDJEREMY MORENO, TREASURER OF THE BOARDBERNARD E. JONES, SECRETARY OF THE BOARDJEANNE PIPER, BOARD MEMBERR. BRUCE COGGIN, BOARD MEMBERARTHUR C. SCHEITHAUR JR, BOARD MEMBEREARL MURRAY, BOARD MEMBERWILLIAM H. ANDERS, BOARD MEMBER PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: THE INDIVIDUALS LISTED ABOVE WILL KEEP THEIR ROLES AT COASTHILLS FEDERAL CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 1A THE CREDIT UNION HAS AN EXECUTIVE COMMITTEE THAT THE BOARD OF DIRECTORS APPOINT TO ACT AS EXPRESSLY APPROVED BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH APPLICABLE LAWS, RULES AND REGULATIONS. FORM 990, PART VI, SECTION A, LINE 6 PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS GENERALLY CONSISTS OF INDIVIDUALS WHO LIVE, WORK, WORSHIP, OR GO TO SCHOOL WITHIN THE COUNTIES OF SANTA CRUZ, MONTEREY, SAN LUIS OBISPO, SANTA BARBARA OR VENTURA, CALIFORNIA, AS WELL AS ANY AND ALL BUSINESSES, CORPORATIONS, AND OTHER LEGAL ENTITIES LOCATED WITHIN THE COUNTIES OF SANTA CRUZ, MONTEREY, SAN LUIS OBISPO, SANTA BARBARA OR VENTURA, CALIFORNIA, WHO HAVE PETITIONED FOR MEMBERSHIP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ALL HOLDERS OF BASIC SHARES ARE ALLOWED TO VOTE IN ANNUAL ELECTION FOR MEMBERS OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7B MATTERS CONCERNING THE ALLOWED NUMBER OF DIRECTORS, ABILITY OF THE MEMBERSHIP TO VOTE BY MAIL, OR DISSOLUTION OF THE CREDIT UNION REQUIRES APPROVAL BY THE MEMBERSHIP. 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. ONCE THIS DETAILED REVIEW IS COMPLETE, THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LOANS TO OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REPORTED QUARTERLY TO THE NCUA AND AGGREGATED BY SOCIAL SECURITY NUMBER. THE CREDIT UNION VETS PROSPECTIVE BOARD AND SUPERVISORY COMMITTEE MEMBERS FOR RELATIVES WHO ARE CREDIT UNION EMPLOYEES PRIOR TO BE ALLOWED ON THE BALLOT FOR ELECTION. WE ROUTINELY MONITOR SHARE AND LOAN ACCOUNTS FOR EMPLOYEES AND VOLUNTEERS. THE PARTIES AND PRINCIPALS MENTIONED IN CONTRACTS ARE REVIEWED FOR KNOWN RELATIONSHIPS WITH THE CREDIT UNION PRIOR TO SIGNING. PER THE CREDIT UNION'S CONFLICT OF INTEREST POLICY: A. SECTION 1205 BOARD OF DIRECTORS - 1D. LIMITATIONS I. MAY NOT BE COMPENSATED AS A DIRECTOR. II. NO PERSON MAY SERVE AS A VOTING MEMBER ON THE BOARD OF DIRECTORS IF THEIR IMMEDIATE FAMILY MEMBER IS A PAID COASTHILLS EMPLOYEE. III. MAY NOT SERVE AS A MEMBER OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE AT THE SAME TIME. B. SECTION 1205 LOAN OFFICERS SECTION - 7C. LIMITATIONS I. LOAN OFFICERS MAY NOT DISBURSE FUNDS FOR LOANS THEY APPROVE II. LOAN OFFICERS MAY NOT APPROVE LOANS FOR HIS/HER IMMEDIATE FAMILY OR FOR ANY INDIVIDUAL WHOSE RELATIONSHIP WITH THE LOAN OFFICER REPRESENTS A CONFLICT OF INTEREST. IMMEDIATE FAMILY IS DEFINED IN SECTION 1150. C. SECTION 1205 NOMINATING COMMITTEE - 10C. QUALIFICATIONS. ANY MEMBER 18 OR OLDER MAY SERVE AS A BOARD MEMBER OR SUPERVISORY COMMITTEE MEMBER SUBJECT TO THE APPROVAL OF COASTHILLS BONDING COMPANY. HOWEVER, NO PERSON SHALL SERVE AS A DIRECTOR, OFFICER, COMMITTEE MEMBER, OR EMPLOYEE OF THE CREDIT UNION WHO HAS BEEN CONVICTED OF ANY CRIMINAL OFFENSE INVOLVING DISHONESTY OR BREACH OF TRUST. THE NOMINATING COMMITTEE IS ALSO REQUIRED TO CONSIDER THE FOLLOWING CRITERIA FOR ELIGIBILITY TO SERVE AS A BOARD MEMBER OR SUPERVISORY COMMITTEE MEMBER. I. NO NEGATIVE SHARES II. NO DELINQUENCY III. THE MEMBER HAS NOT FILED A LAWSUIT AGAINST COASTHILLS; HAS NOT THREATENED TO FILE A LAWSUIT AGAINST COASTHILLS; OR HAS SHARED AN UNFILED LAWSUIT. IV. NO CONFLICT OF INTEREST EXISTS THAT WOULD EFFECTIVELY PREVENT THE CANDIDATE FROM EXERCISING INDEPENDENT JUDGEMENT AND ACTING IN THE BEST INTEREST OF COASTHILLS. V. NO FORMER EMPLOYEE OF COASTHILLS CREDIT UNION CAN SERVE AS A BOARD OR SUPERVISORY COMMITTEE MEMBER UNTIL 3 YEARS HAVE PASSED FROM THEIR LAST DAY OF EMPLOYMENT. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE CEO AND KEY MANAGEMENT OFFICIALS INCLUDES EXECUTIVE COMPENSATION STUDIES, SOMETIMES MORE THAN ONE IN A GIVEN YEAR FROM DIFFERENT PROVIDERS. MCLAGAN, CUES, AND ALLEN DICK HAVE ALL PROVIDED RECENT CEO AND EXECUTIVE MANAGEMENT COMPENSATION INFORMATION TO THE CREDIT UNION. DATA RELATED TO THE CEO IS PRESENTED TO THE BOARD VIA THE BOARD HUMAN RESOURCES COMMITTEE. THESE DECISIONS ARE RECORDED IN THE BOARD EXECUTIVE COMMITTEE MINUTES AND CONFIRMED BY THE ENTIRE BOARD EXECUTIVE COMMITTEE. A MANAGEMENT COMPENSATION COMMITTEE THAT INCLUDES THE SVP/HR AS CHAIR AND EXECUTIVE TEAM MEMBERS VETS AND MAKES RECOMMENDATIONS TO THE EXECUTIVE TEAM FOR GENERAL EMPLOYEE COMPENSATION MATTERS, INCLUDING OFFICER COMPENSATION. IN CERTAIN CASES THE COMPENSATION COMMITTEE MAY MAKE DECISIONS AND REPORT THOSE TO THE EXECUTIVE TEAM, ESPECIALLY FOR ITEMS NOT OF A MATERIAL NATURE. THE EXECUTIVE TEAM IS THE MAIN INFLUENCE FOR DECISIONS WITH BROAD OR ORGANIZATION-WIDE IMPACT. AN ANNUAL PERFORMANCE REVIEW PROCESS IS IN PLACE THAT IS DOCUMENTED BY HR. ANNUALLY IT IS DECIDED IF MERIT AND/OR COST OF LIVING INCREASES WILL BE APPLIED. THE CREDIT UNION TAKES ADVANTAGE OF SALARY SURVEYS IN IT'S DECISIONS ON SALARY RANGES, COMPARATIOS, ETC. THE CURRENT SURVEY PROVIDER IS MCLAGAN. THIS DECISION IS THEN DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS DUE TO CONVERSION TO A FEDERAL CREDIT UNION -130,830,072. COASTHILLS WEALTH MANAGEMENT LLC 1075 E BETTERAVIA SANTA MARIA CA 93454 861097244 MANAGEMENT OF MEMBER INVESTMENT ACCOUNTS CA 0 0 COASTHILLS CREDIT UNION