2023-11-03T15:42:49-05:00 2022-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2022-01-01 880132649 WESTSTAR CREDIT UNION WEST 7027914777 PO BOX 94138 LAS VEGAS NV 89113 JOHN BAGENTS PRESIDENT/CEO 7027914777 2023-10-30 1 JOHN BAGENTS 999009999 0 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN BAGENTS PO BOX 94138 LAS VEGAS NV 89113 10923066 0 X WWW.WESTSTAR.ORG X CREDIT UNION 1975 NV A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 5 5 91 9 26206 0 0 0 8584219 9010803 1004396 1892764 786277 19499 10374892 10923066 5000 7500 0 0 4749224 4854076 0 0 0 4588631 5170326 9342855 10031902 1032037 891164 257379875 255839937 234506956 242522071 22872919 13317866 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, WESTSTAR 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 WESTSTAR CREDIT UNION PROVIDES VARIOUS LOAN PRODUCTS INCLUDING RESIDENTIAL MORTGAGES, AUTO LOANS, CREDIT CARDS, AND OTHER CONSUMER LOANS. WESTSTAR CREDIT UNION PROVIDES A VARIETY OF CHECKING AND SAVINGS ACCOUNTS TO MEET ITS MEMBERS' NEEDS. WESTSTAR CREDIT UNION PROVIDES MEMBERS FREE ACCESS TO THEIR ACCOUNT INFORMATION VIA THE INTERNET AND MOBILE DEVICES. THE CREDIT UNION ALSO PROVIDES AN EXTENSIVE ATM NETWORK WITH OVER 28,000 SURCHARGE FREE ATMS VIA A CO-OP NETWORK. 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 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 3044 0 1 91 1 1 1 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X JOHN BAGENTS 7027615501 2775 S RAINBOW BLVD LAS VEGAS NV 89146 CRAIG HAWKINS BOARD CHAIRMAN 3.00 X 0 0 0 CURTIS CHING VICE CHAIRMAN 3.00 X 0 0 0 JEFF PERO SECRETARY, AUDIT CMTE MEMB 3.00 X 0 0 0 KEVIN ORROCK TREASURER 3.00 X 0 0 0 DOUG MICHAEL BOARD MEMBER 3.00 X 0 0 0 MERV GUPTON AUDIT CMTE. CHAIRMAN 3.00 X 0 0 0 JAMES HANISCH AUDIT CMTE. MEMBER 3.00 X 0 0 0 JOAN SCRIVNER AUDIT CMTE. MEMBER 3.00 X 0 0 0 WILLIAM BARBEE AUDIT CMTE. MEMBER 3.00 X 0 0 0 JOHN BAGENTS PRESIDENT & CEO 40.00 X 49754 0 1980 RICK SCHMIDT FORMER CEO 40.00 X 333377 0 34830 DION KOOP SVP & CFO 40.00 X 179082 0 24263 LORRAINE VALLONE VP HR 40.00 X 115512 0 13993 JOHN HOLLER VP LENDING 40.00 X 105235 0 1163 SCOTT MANCHEE VP IT 40.00 X 103503 0 4780 NINA LEYVA VP SALES SERVICE 40.00 X 102449 0 13192 DONNA RUMPH VP INTERNAL CONTROLS 40.00 X 101295 0 12145 1090207 0 106346 7 0 1 0 CO-OP 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM/DEBIT CARD SERVICING 634828 DIEBOLD PO BOX 944399 PITTSBURGH PA 15264 ATM MACHINE SERVICER 325475 JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 91730 CORE SYSTEM/ONLINE BANKING 324183 CO-OP - TMG 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 CREDIT CARD SERVICING 123562 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STATEMENTS/NOTICES 109130 7 INTEREST INCOME 522100 4639142 4639142 FEE INCOME 522100 2379683 2353477 26206 OTHER OPERATING INCOME 522100 1991978 1991978 9010803 1892764 1892764 SALE OF REPO AUTOS 522100 19499 19499 19499 10923066 10896860 26206 0 7500 1090207 2904388 106021 434317 319143 62431 78110 116001 218646 1988214 633249 563044 27725 250492 447485 LOAN SERVICING 480190 MISC. OPERATING EXPENSE 178146 PROVISION FOR LOAN LOSS 88300 OPERATING FEES 38293 10031902 3133498 2755916 38374738 22465752 801518 1746273 463499 472904 11613741 7398012 4339670 4215729 102178316 98937692 105053089 122175581 3035547 3070090 257379875 255839937 1654402 3283253 232852554 239238818 234506956 242522071 X 0 0 0 0 22872919 13317866 22872919 13317866 257379875 255839937 X 891164 -11266766 820549 X X 0 1 X 1 0 5000 5000 5000 1 CALIFORNIA-NEVADA CREDIT UNION LEAGUE 2855 EAST GUASTI RD SUITE 202 ONTARIO CA 91761 940357265 5000 863430 863430 5808948 2977652 2831296 362840 317686 45154 4578523 4102674 475849 4215729 DEPOSITS IN COMMERCIAL BANKS 2739000 C PAID-IN CAPITAL AT CORP. 340817 C ALL OTHER INVESTMENTS 1359000 F LOANS AND LEASES 115347038 F NCUA SHARE INSURANCE 2389726 C 122175581 SHARES AND DEPOSITS 239238818 239238818 X PART X, LINE 2: FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE 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 PERIOD. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X X 0 1 0 RICK SCHMIDT FORMER CEO 306189 0 20000 0 7188 0 10123 0 24707 0 368207 0 0 0 DION KOOP SVP & CFO 165673 0 12950 0 459 0 15009 0 9254 0 203345 0 0 0 PART I, LINE 4B THE CREDIT UNION OFFERS A NONQUALIFIED RETIREMENT, 457(F) PLAN. THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN MEMBERS OF MANAGEMENT. UNDER THE TERMS OF THE PLAN, THE PARTICIPANTS ARE ENTITLED TO THE PRINCIPAL, EARNINGS AND APPRECIATION ON THE DEFERRED COMPENSATION PLAN INVESTMENTS, SUBJECT TO VESTING IF PLAN CONDITIONS ARE MET. THE DEFERRED COMPENSATION INVESTMENTS ARE SHOWN AS AN ASSET ON THE CREDIT UNION'S STATEMENTS OF FINANCIAL CONDITION. RICK SCHMIDT AND DION KOOP ARE PARTICIPANTS OF THE PLAN. RICK SCHMIDT OFFICER MORTGAGE X 292000 211892 0 1 1 RICK SCHMIDT OFFICER CREDIT CARD X 1000 1167 0 1 1 DION KOOP OFFICER MORTGAGE X 364000 345982 0 1 1 DION KOOP OFFICER HELOC X 60000 9301 0 1 1 DION KOOP OFFICER AUTO X 15642 1349 0 1 1 LORRAINE VALLONE OFFICER MORTGAGE X 220000 202986 0 1 1 JOHN HOLLER HCE MORTGAGE X 594000 589692 0 1 1 JOHN HOLLER HCE AUTO X 40000 37231 0 1 1 NINA LEYVA HCE AUTO X 51286 51286 0 1 1 NINA LEYVA HCE CREDIT CARD X 10000 5660 0 1 1 DONNA RUMPH HCE MORTGAGE X 313800 289706 0 1 1 DONNA RUMPH HCE CREDIT CARD X 20000 21 0 1 1 1746273 FORM 990, PART VI, SECTION A, LINE 6 WESTSTAR 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. WESTSTAR CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF WESTSTAR CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS; 5 BOARD MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS AND 5 AUDIT COMMITTEE MEMBERS WHO ARE APPOINTED BY THE BOARD. 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 DISSOLUTIONS. FORM 990, PART VI, SECTION B, LINE 11B DATA SUBMITTED TO ACCOUNTING FIRM FOR TAX RETURN PREPARATION; FORM 990 REVIEWED BY MANAGEMENT AND THE BOARD FORM 990, PART VI, SECTION B, LINE 12C ALL POLICIES ARE REVIEWED BY MANAGEMENT AND APPROVED BY THE BOARD ANNUALLY AND DISTRIBUTED TO ALL EMPLOYEES ELECTRONICALLY WITH REQUEST FOR READ RECEIPT. THE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEEE HANDBOOK. ALL CONFLICTS OF INTEREST SITUATIONS MUST BE DISCLOSED FORM 990, PART VI, SECTION B, LINE 15 IN NORMAL CIRCUMSTANCES COMPENSATION OF EMPLOYEES (INCLUDING CEO) IS REVIEWED BY VP HR AND COMPARED WITH THIRD PARTY DATA RELATED TO INDUSTRY AND REGIONAL COMP. THE BOARD OF DIRECTORS APPROVES THE COMPENSATION FOR THE CEO FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XI, LINE 9: EQUITY AQUIRED IN MERGER 820,549. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER ITS SELECTION PROCESS OR OVERSIGHT PROCESS DURING THE TAX YEAR. THE CREDIT UNION COMPLETED A MERGER WITH LVUP FCU EFFECTIVE DECEMBER 1, 2022. LVUP FCU TERMINATED ITS CHARTER.