2022-06-14T09:53:11-07:00 2021-12-31 990 2021-01-01 941326959 CREDIT UNIONS IN THE STATE OF CALIFORNIA FINANCIAL CENTER CREDIT UNION CRED 2099486024 PO BOX 208005 STOCKTON CA 95208 STEVE LEIGA Vice President 2022-06-14 STEVE LEIGA 999009999 2 AAL1 IAL1 FAL1 2021 2022-09-23 18:48:47Z X MICHAEL DUFFY PO BOX 208005 STOCKTON CA 95208 14416859 false 1526 X WWW.FCCUBURT.ORG X 1954 CA TO PROVIDE CREDIT UNION SERVICE TO MEMBERS. X 5 4 113 6 57786 0 11743990 10674639 5867190 3684434 86824 57786 17698004 14416859 0 374800 15419857 8317066 5437383 0 0 9532568 17300640 18224434 38157880 -526430 -23741021 607611794 0 497106227 0 110505567 0 TO PROVIDE CREDIT UNION SERVICE TO MEMBERS. false false FINANCIAL CENTER CREDIT UNION SERVES 30,000 MEMBERS WITH $634 MILLION IN ASSETS, $102 MILLION IN LOANS TO MEMBERS, AND $540 MILLION IN MEMBER DEPOSITS AS OF 09-30-21. FINANCIAL CENTER CREDIT UNION MERGED INTO VALLEY STRONG CREDIT UNION AS OF 10-01-21. false false true false false false false true false true false false false false false false false false false false false false false false false false false false true false false false false true false false false false true false false false false true 31430 0 true 113 true true true false false false false false false false X 5 4 true false false false true true true true true false true true true true true true true true true true false CA X STEVE LEIGA 2099486024 18 S CENTER ST STOCKTON CA 95202 MICHAEL DUFFY President & CEO 55.00 0.00 X X 667326 0 71823 NORA STROH EXECUTIVE VP/COO 55.00 0.00 232976 0 75490 STEVE LEIGA VP ACCT & FIN 55.00 0.00 204126 0 82821 AMANDA VERSTL VP HR & ADMIN 55.00 0.00 122422 0 23841 DAVID RAINWATER VP OF INFORMATION 55.00 0.00 102756 0 14880 LINH VO CONTROLLER 55.00 0.00 84104 0 26879 VALENCIA JONES Director 1.00 0.00 X 0 0 0 KARYN JOHNSON Director 1.00 0.00 X 0 0 0 EDWARD FIGUEROA Director 1.00 0.00 X 0 0 0 MANUEL LOPEZ Chairman 1.00 0.00 X 0 0 0 1413710 295734 5 false true false FISERV EFT SOLUTIONS PO BOX 6000 SAN FRANCISCO CA 94160 CARDS PROCESSING 377801 PRESORT 3806 CORONADO AVE STOCKTON CA 95204 STMT AND MAIL SVCS 284890 HUNTON ANDREWS KURTH LLP 2200 PENNSYLVANIA AVE WASHINGTON DC 20037 ATTORNEY 283145 FISERV PO BOX 80123 CITY OF INDUSTRY CA 91716 DATA PROCESSING 356335 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM AND TCD 274264 5 0 FEES AND CHARGES 524292 4287802 4287802 INCOME FROM LOANS 900099 5412984 5412984 OTHER INCOME 900099 973853 973853 10674639 3684434 3684434 0 0 0 0 0 0 57786 57786 57786 0 14416859 10674639 57786 3684434 0 0 0 15419857 1334562 0 2630591 0 1472230 0 0 0 0 0 0 0 0 383369 725689 4261961 0 774596 0 0 0 0 0 402436 156442 ALL OTHER EXPENSE 9809209 VISA 742562 ATM 389152 PROVISION FOR LOAN LOSS -344776 0 38157880 0 0 0 103545458 0 0 0 0 0 0 123628385 0 0 0 14084538 14084538 7064449 0 0 366983115 0 0 0 6390387 0 607611794 0 11099152 8999453 477007622 497106227 0 X 110505567 110505567 0 607611794 0 X -23741021 -86764546 X false true X true false 43750 43750 43750 true KATHTY MILLER FOR SUPERVISOR 6507 PACIFIC AVE STOCTON CA 95204 500 KEVIN LINCOLN FOR MAYOR PO BOX 601345 SACRAMENTO CA 95860 1500 NEWSOM FOR CALIFORNIA GOVERNOR 1414 K STREET SUITE 250 SACRAMENTO CA 95814 10000 DAN WRIGHT FOR CITY COUNCIL 2818 HORSETAIL DR STOCKTON CA 95212 1000 MICHAEL BLOWER FOR CITY COUNCIL 3255 W MARCH LANE SUITE STOCKTON CA 95219 1500 EIBERT HOLMAN FOR SUPERVISOR 1944 LEBARON DR STOCKTON CA 95209 250 CALIFORNIA CREDIT UNION LEAGUE PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 25000 RON FREITAS FOR DISTRICT ATTORNEY TEGNER ROAD HILMAR CA 95324 4000 Part I-A, Line 1 - Direct and Indirect Political Campaign Activities PART I-A, LINE 1:THE CREDIT UNION MAKES CONTRIBUTIONS TO POLITICAL CAMPAIGNS, MAY WALK DISTRICTS FOR CANDIDATES, AND MAY OFFER CREDIT UNION FACILITIES FOR USE OR PHONE BANK. false true X 1445562 1445562 10649284 5886411 4762873 1989692 1133678 856014 7064449 -7064449 Part IV, Line 2b: Explanation of escrow account liability PART IV, LINE 2B: THE CREDIT UNION SERVES AS CUSTODIAN FOR IRA ACCOUNTS TOTALING $8,725,705 AND HAS AN ESCROW ACCOUNT LIABILITY OF $40,062 FOR REAL ESTATE ESCROW/IMPOUND ACCOUNTS. X X X true true X X X X X false true false MICHAEL DUFFY President & CEO 444917 196434 25975 23200 48623 739149 NORA STROH EXECUTIVE VP/COO 160629 71347 1000 43201 32289 308466 STEVE LEIGA VP ACCT & FIN 139808 62127 2191 34198 48623 286947 Part I, Line 1a: Relevant information in regards to selections on 1a. PART I, LINE 1A: FIRST-CLASS TRAVEL - TRAVEL FOR BOARD AND EXECUTIVES WHERE FIRST CLASS TRAVEL IS AN OPTION AND WHEN DEEMED APPROPRIATE, HOWEVER, MOST AIR IS ON SOUTHWEST OR EQUIVALENT. TRAVEL FOR COMPANIONS - COMPANION TRAVEL IS PROVIDED WHEN APPROPRIATE.HEALTH/SOCIAL CLUB DUES - CORPORATE SOCIAL CLUB MEMBERSHIP IS PART OF COMMUNITY AND SMALL EMPLOYEE GROUP (SEG) RELATIONS. Part III, Additional Information PART I, LINE 4B: PARTICIPATION IN A 457(F) RETIREMENT PLAN-AMOUNTS REPORTED IN PART II, COLUMN C "RETIREMENT AND OTHER DEFERRED COMPENSATION" INCLUDES 457(F) RETIREMENT PLAN FUNDING. AMOUNTS ARE ACCRUED BUT NOT YET PAID OUT. ACCRUED AMOUNTS ARE AT SUBSTANTIAL RISK OF FORFEITURE AND ARE SCHEDULED TO BE PAID OUT IN FUTURE DISTRIBUTIONS. THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE PLAN: NORA STROH, EXECUTIVE VP/COO AND STEVE LEIGA, VP ACCOUNTING & FINANCE. MICHAEL DUFFY SIBLING 739148 COMPENSATION false NORA STROH SIBLING 308466 COMPENSATION false Schedule L, Part V Supplemental Information SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:(A) NAME OF PERSON: MICHAEL DUFFY(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:BROTHER OF NORA STROH, COO/EXECUTIVE VP(D) DESCRITION OF TRANSACTION: COMPENSATION PAYMENTS BY THE ORGANIZATION TO A FAMILY MEMBER OF AN OFFICER.(A) NAME OF PERSON: NORA STROH(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:SISTER OF MICHAEL DUFFY, PRESIDENT/CEO(D) DESCRIPTION OF TRANSACTION: COMPENSATION PAYMENTS BY THE ORGANIZATION TO A FAMILY MEMEMBER OF AN OFFICER. CASH & EQUIVALENTS 2021-09-30 223817417 BOOK VALUE 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) INVESTMENTS 2021-09-30 292887261 COMPARABLES 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) OTHER INVESTMENTS 2021-09-30 600000 BOOK VALUE 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) DEPOSIT IN NCUSIF 2021-09-30 4746885 BOOK VALUE 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) LOANS RECEIVABLE 2021-09-30 102096744 COMPARABLES 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) LAND & BUILDING 2021-09-30 10321415 APPRAISALS 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) FIXED ASSETS 2021-09-30 597618 BOOK VALUE 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) OTHER ASSETS 2021-09-30 3201810 BOOK VALUE 951652797 VALLEY STRONG CREDIT UNION PO BOX 9506 BAKERSFIELD CA 93389 501(C)(14) 457B PLAN ASSETS 2021-09-30 1947175 BOOK VALUE 951652797 VALLEY STRONG CREDIT UNION PO POX 9506 BAKERSFIELD CA 93389 501(C)(14) false true false false Part I & 2, Line 2e - Name and Explanation for Involvement in Successor ALL FINANCIAL CENTER CREDIT UNION STAFF IS RETAINED BY VALLEY STRONG CREDIT UNION, WITH THE SAME COMPENSATION, AS PART OF THE MERGER AGREEMENT. Sch N, Part III, Additional Information THE STATE OF CALIFORNIA DEPARTMENT OF FINANCIAL PROTECTION AND INNOVATION AND NATIONAL CREDIT UNION ADMINISTRATION MERGER APPROVAL LETTERS ARE ATTACH. Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et FORM 990, PART VI, SECTION A LINE 2: THE PRESIDENT/CEO, MICAHEL DUFFY, AND THE EXECUTIVE VP/COO, NORA STROH ARE SIBLINGS. Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder FORM 990, PART VI, SECTION A, LINE 6: THE CREDIT UNION'S MEMBERS HAVE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body FORM 990, PART VI, SECTION A, LINE 7A: MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALY, AS VACANCIES ARISE, OR OTHERWISE. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders FORM 990, PART VI, SECTION A, LINE 7B: MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. Form 990, Part VI, Line 11b: Form 990 Review Process FORM 990, PART VI, SECTION B, LINE 11: FORM 990 IS REVIEWED BY THE CEO AND VP ACCT & FIN PRIOR TO FILING AND A COPY IS PROVIDED TO THE BOARD FOR REVIEW AND DISCUSSION PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts FORM 990, PART VI, SECTION B, LINE 12C: THE CONFLICT OF INTEREST POLICY IS MONITORED THROUGH TRAINING AND POLICY REVIEW. VOLUNTEERS READ AND SIGN A CODE OF CONDUCT FORM ANNUALLY. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management FORM 990, PART VI, SECTION B, LINE 15: COMPENSATION IS PERFORMANCE BASED. COMPENSATION SURVEYS ARE USED TO SET COMPENSATION LEVELS, AS WELL AS AN INDEPENDENT THIRD PARTY REVIEW AND REVIEW AND APPROVAL OF THE EXECUTIVE BENEFITS COMMITTEE. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available FORM 990, PART VI, SECTION C, LINE 19: CERTAIN DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST. A LOBBY NOTICE IS POSTED IN EACH BRANCH. Other Changes In Net Assets Or Fund Balances - Other Decreases Financial Center CU Merge into Valley Strong CU 10/01/21 = -$86764546