2024-11-04T18:17:52-06:00 2023-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2023-01-01 951652773 FIRST IMPERIAL CREDIT UNION FIRS 7603521540 1602 W MAIN STREET EL CENTRO CA 92243 FIDEL GONZALEZ CEO 7603521540 2024-10-29 1 1 VALENTINO CREUS CPA P01054153 8189549700 2023 2024-10-15 13:58:12Z FIDEL GONZALEZ 1602 W MAIN STREET EL CENTRO CA 92243 13419300 0 X WWW.FICU.COM X CREDIT UNION 1942 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 72 12 51050 0 0 0 10073138 12409681 436756 830546 0 116109 10509894 13356336 11559 12533 0 0 3823429 4225052 0 0 0 4455562 6011564 8290550 10249149 2219344 3107187 184124441 195673928 161924710 171596791 22199731 24077137 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 APPROVED 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, FIRST IMPERIAL CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS. 0 0 THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO MEMBERS INCLUDING ACCESS TO SHARE ACCOUNTS, CERTIFICATES OF DEPOSIT AND RETIREMENT SAVINGS ACCOUNTS, WITH ACTIVE PROMOTION OF ATM/DEBIT CARDS, ELECTRONIC BILL PAY AND HOME BANKING. MEMBERS ALSO HAVE ACCESS TO CONSUMER LOANS INCLUDING VEHICLE LOANS, PERSONAL LINES OF CREDIT AND CREDIT CARDS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 969 0 1 72 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CA X X VERONICA YEE ACCOUNTING MANAGER 7603521540 1602 W MAIN STREET EL CENTRO CA 92243 VICTOR TORRES CHAIRPERSON 0.75 X 0 0 0 ALEXIS ARAUJO VICE CHAIRPERSON 0.75 X 2339 0 0 MICHAEL CAMPBELL SECRETARY 0.75 X 0 0 0 KATIE LUNA TREASURER 0.75 X 0 0 0 VICTOR JAIME BOARD MEMBER 0.75 X 0 0 0 KATHLEEN LANG BOARD MEMBER 0.75 X 0 0 0 CHRISTOPHER H PETREE BOARD MEMBER 0.75 X 0 0 0 CARLOS FLETES SUPERVISORY COMMITTEE 0.75 X 623 0 0 STEVE ESCALERA SUPERVISORY COMMITTEE 0.75 X 570 0 0 DAWN CHUN SUPERVISORY COMMITTEE 0.75 X 0 0 0 FIDEL GONZALEZ PRESIDENT/CEO 40.00 X 254696 0 139350 CUAUHTEMOC DE LA TORRE EVP/CFO 40.00 X 200827 0 21741 JORGE ALCANTAR COO 40.00 X 123469 0 9958 MARLENA RENTERIA CXO 40.00 X 112378 0 7024 694902 0 178073 4 0 1 0 JACK HENRY & ASSOCIATES INC P O BOX 609 MONETT MO 65708 COMPUTER SOFTWARE/HARDWARE 379791 COOK SOLUTIONS GROUP 9225 NE CASCADES PKWY PORTLAND OR 97220 TECHNOLOGY AND SECURITIES SOLUTIONS 185712 IMS 245 COMMERCE BLVD LIVERPOOL NY 13088 POSTAGE SERVICE 117415 CDW PO BOX 75723 CHICAGO IL 606755723 IT SOLUTIONS 114961 4 INTEREST ON LOANS 522100 8619479 8619479 FEE INCOME 522100 2942377 2896292 46085 OTHER OPERATING INCOME 522100 847825 842860 4965 12409681 838103 838103 55407 62964 -7557 -7557 -7557 GAIN ON EQUITY AND TRADING DEBT S 522100 116109 116109 116109 13356336 13305286 51050 0 12533 694902 2643933 376663 250723 258831 40349 51840 256916 151508 1353012 123883 397646 132779 1515366 463878 136144 PROVISION FOR LOAN & LE 616911 MISCELLANEOUS EXPENSE 471118 LOAN SERVICING EXPENSE 276339 OPERATING FEES 23875 10249149 3559258 3711383 9351389 13768386 201704 250746 9604664 2402609 7234499 7202055 156743405 164640712 7034186 6100646 184124441 195673928 2231654 5903430 159693056 165693361 161924710 171596791 X 0 0 0 0 22199731 24077137 22199731 24077137 184124441 195673928 X 3107187 67582 3789 -1301152 X X 0 1 X 1 0 2183006 2183006 5581225 1389426 4191799 274193 109100 165093 1566240 904083 662157 7202055 DEPOSITS IN COMMERCIAL BANKS 7986000 C LOANS AND LEASES 146066311 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 1495444 C AVAILABLE FOR SALE SECURITIES 2355615 F HELD-TO MATURITY SECURITIES 3497327 F PAID-IN CAPITAL AT CORP 169702 C EQUITY SECURITIES 3050313 F ALL OTHER INVESTMENTS 20000 F 164640712 TOTAL SHARES AND DEPOSITS 165693361 165693361 X 13363893 0 13363893 -7557 -7557 13356336 10256706 0 10256706 -7557 -7557 10249149 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION -7,557. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION -7,557. X X X 0 1 0 FIDEL GONZALEZ PRESIDENT/CEO 209889 0 22038 0 22769 0 124505 0 14845 0 394046 0 0 0 CUAUHTEMOC DE LA TORRE EVP/CFO 176662 0 13116 0 11049 0 7210 0 14531 0 222568 0 0 0 PART I, LINE 4B EFFECTIVE APRIL 1, 2018, THE CREDIT UNION ESTABLISHED A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR A MEMBER OF SENIOR MANAGEMENT UNDER IRC SECTION 457(F). THE CREDIT UNION ACCRUES FOR THE PLAN EACH YEAR UNTIL THE TARGET BENEFIT AMOUNT AND TARGET BENEFIT DATE ARE REACHED. FORM 990, PART VI, SECTION A, LINE 6 FIRST IMPERIAL 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. FIRST IMPERIAL CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF FIRST IMPERIAL 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 BOARD REVIEWS THE FORM 990 AS PART OF THE MONTHLY PACKET IN THE MONTH OF FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD, STAFF AND MANAGEMENT OF THE ORGANIZATION REVIEW THE CONFLICT OF INTEREST POLICY AND ACKNOWLEDGE COMPLIANCE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO, OFFICERS, AND KEY EMPLOYEES IS DETERMINED BY ANALYZING THE LATEST CUNA SALARY REPORT. THE CEO THEN PROPOSES A SALARY SCALE FOR BOARD APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS FOR THE CREDIT UNION ARE AVAILABLE ON A MONTHLY BASIS AND POSTED WITHIN THE BRANCH. FINANCIAL STATEMENTS ARE ALSO POSTED TO A SECURE WEBSITE AVAILABLE TO THE GOVERNING BOARD MEMBERS. FORM 990, PART XI, LINE 9: CHANGE IN OCI 46,665. CECL TRANSITIONAL AMOUNT (AS DETERMINED UNDER 702.703(B)) -1,347,816. ROUNDING -1. FORM 990, PART XI, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.