2022-11-15T13:19:15-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2021-01-01 941244186 REDWOOD CREDIT UNION REDW 8004797928 3033 CLEVELAND AVE 100 SANTA ROSA CA 95403 RONALD FELDER CHIEF FINANCIAL & RISK OFFICER 8004797928 2022-11-13 1 RONALD FELDER 999009999 MELISSA HANGSLEBEN P02087031 6022662248 2022-11-13 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z BRETT MARTINEZ 3033 CLEVELAND AVE 100 SANTA ROSA CA 95403 249232207 0 X WWW.REDWOODCU.ORG X 1950 CA PROVIDE FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 9 9 797 12 278319 0 0 0 233933220 244650227 4730967 4239855 85737 82608 238749924 248972690 1000000 1250000 27894469 18779969 69930410 75342053 0 0 0 75846187 54391568 174671066 149763590 64078858 99209100 6235157465 7428683362 5541473160 6632385382 693684305 796297980 PASSIONATELY SERVING THE BEST INTERESTS OF OUR MEMBERS, EMPLOYEES, AND COMMUNITIES. SERVING ALL OF OUR MEMBERS FINANCIAL SERVICE NEEDS. 0 0 REDWOOD CREDIT UNION IS ENGAGED IN PROVIDING LOW COST FINANCIAL SERVICES TO OUR MEMBER-OWNERS AS A COOPERATIVE ORGANIZATION. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 74658 0 797 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 0 0 CA X MICHAEL GAY CONTROLLER 8004797928 3033 CLEVELAND AVE SUITE 100 SANTA ROSA CA 95403 JUDY HERRERIAS-JAMES CHAIR 1.00 1.00 X X 0 0 0 ROB EYLER VICE CHAIR 1.00 X X 0 0 0 JIM OLMSTED SECRETARY 1.00 X X 0 0 0 LISA WITTKE SCHAFFNER TREASURER 1.00 X X 0 0 0 DEBRA WATTS DIRECTOR 1.00 1.00 X 0 0 0 M CHRISTINA RIVERA DIRECTOR 1.00 X 0 0 0 DAVID GOUIN DIRECTOR 1.00 X 0 0 0 JERI HANSEN DIRECTOR 1.00 X 0 0 0 ROD DOLE DIRECTOR 1.00 X 0 0 0 ROBERT STEELE DIRECTOR (THRU 3/21) 1.00 X 0 0 0 BRETT MARTINEZ PRESIDENT/CEO 40.00 1.00 X 1314815 0 380636 CYNTHIA NEGRI CHIEF ADMIN OFFICER 40.00 X 708761 0 177935 ANTHONY E HILDESHEIM CHIEF OPERATING OFFICER 40.00 X 563781 0 112049 RONALD FELDER CHIEF FINANCIAL & RISK OFFICER 40.00 X 604448 0 127414 KRISTINA DERKOS SVP PEOPLE 40.00 X 430503 0 123195 DIANNA BERTHINIER SVP LENDING 40.00 X 605808 0 77865 THOMAS HUBERT SVP/AUTO, INSURANCE & WEALTH SERVICES 40.00 X 563470 0 102590 DAVID GRIFFIS SR SBA/COMM LOAN OFFICER 40.00 X 258449 0 22156 MISHEL KAUFMAN SVP RISK MANAGEMENT 40.00 X 373863 0 92339 TODD N LINDEMANN SVP PAYMENTS 40.00 X 326739 0 82804 MATTHEW MARTIN SVP/COMM AND GOV'T RELATIONS 40.00 X 286939 0 55398 THERESA MITCHELL EXTERNAL MORTGAGE LOAN OFFICER 40.00 X 421584 0 19604 AARON COLLIER SVP IT 40.00 X 270407 0 59653 KIMBERLY WILLIAMS SVP/STRATEGY, PROJECTS, CRE 40.00 X 265162 0 41646 CHRISTINE FOSTER WEALTH ADVISOR 40.00 X 292452 0 7213 MICHAEL DEFAZIO FINANCIAL ADVISOR 40.00 X 777676 0 8700 SHEILA O'NEIL EXTERNAL MORTGAGE LOAN OFFICER 40.00 X 488686 0 7229 CLARK R MATTHIESSEN FINANCIAL ADVISOR 40.00 X 384293 0 15653 JULIE NIX FINANCIAL ADVISOR 40.00 X 528153 0 17260 JOSEPH TURFA FINANCIAL ADVISOR 40.00 X 326843 0 10857 9792832 0 1542196 179 0 1 0 WESTERN BUILDERS 1400 N DUTTON AVE SUITE 7 SANTA ROSA CA 95401 GENERAL CONTRACTORS 20305373 INFOLMAGE INC 141 JEFFERSON DR MENLO PARK CA 94025 STATEMENTS PROVIDER 2163783 QUEST PO BOX 430 ROSEVILLE CA 95678 IT CONSULTING 1947136 AXIA ARCHITECTS 250 D ST SUITE 210 SANTA ROSA CA 95404 ARCHITECTURAL & DESIGN SERVICES 1764673 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 ATM SERVICES 1656588 93 INTEREST ON LOANS TO MEMBERS 522100 181773884 181773884 INTERCHANGE INCOME 522100 26778809 26778809 SERVICE CHARGES AND FEES 522100 17343257 17343257 GAIN ON SALE OF LOANS 522100 7228528 7228528 INSURANCE COMMISSIONS 522100 6326205 6326205 5199544 4989295 210249 244650227 4079002 22170 4056832 82608 0 82608 82608 45900 36708 420370 259517 160853 160853 160853 248972690 244439978 278319 4254393 1250000 18779969 8769678 53405725 3457313 5148252 4561085 268110 221128 29300 12878629 5216011 5927445 5838696 989734 7416307 523981 LOAN SERVICING 9871677 LOSSES AND FRAUD 3176282 MISCELLANEOUS EXPENSES 2034268 149763590 1669144006 2447843202 8142534 19368516 19315778 4298453224 4696030615 5243363 138860473 41083919 78941539 97776554 344825 261200 22063288 22259619 613 146841454 131810497 6235157465 7428683362 42391860 43256716 5499081300 6589128666 5541473160 6632385382 X 0 0 0 0 693684305 796297980 693684305 796297980 6235157465 7428683362 X 99209100 -16456 3421031 X X 0 1 X 1 0 29300 0 0 29300 29300 1 CALIFORNIA CREDIT UNION LEAGUE 2855 E GUASTI ROAD SUITE 600 ONTARIO CA 91761 940357265 25000 MIKE MCGUIRE FOR STATE SENATE 2022 369B THIRD STREET SUITE 652 SAN RAFAEL CA 94901 463842849 4300 PART I-A, LINE 1: CONTRIBUTIONS TO POLITICAL ORGANIZATIONS 12661119 12661119 47721872 13876965 33844907 12328176 6913586 5414590 31368009 20293368 11074641 34781297 34781297 97776554 MEMBERS' SHARE AND SAVINGS ACCOUNTS 6589128666 6589128666 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED THEIR TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 REDWOOD CREDIT UNION COMMUNITY FUND INC 3033 CLEVELAND AVENUE SANTA ROSA CA 95403 475084832 501(C)(3) 1250000 0 UNRESTRICTED 1 0 PART I, LINE 2: GRANT IS AWARDED TO THE CREDIT UNION'S RELATED ENTITY. THERE ARE NO FORMAL MONITORING PROCEDURES. X 1 1 X X X X 0 1 0 BRETT MARTINEZ PRESIDENT/CEO 891796 0 416348 0 6671 0 380636 0 0 0 1695451 0 0 0 CYNTHIA NEGRI CHIEF ADMIN OFFICER 535000 0 172810 0 951 0 167801 0 10134 0 886696 0 0 0 MICHAEL DEFAZIO FINANCIAL ADVISOR 59917 0 713437 0 4322 0 8700 0 0 0 786376 0 0 0 RONALD FELDER CHIEF FINANCIAL & RISK OFFICER 472443 0 125645 0 6360 0 116577 0 10837 0 731862 0 0 0 DIANNA BERTHINIER SVP LENDING 348714 0 52998 0 204096 0 76631 0 1234 0 683673 0 198149 0 ANTHONY E HILDESHEIM CHIEF OPERATING OFFICER 410796 0 124189 0 28796 0 107632 0 4417 0 675830 0 0 0 THOMAS HUBERT SVP/AUTO, INSURANCE & WEALTH SERVICE 333424 0 50675 0 179371 0 93406 0 9184 0 666060 0 186702 0 KRISTINA DERKOS SVP PEOPLE 330478 0 69091 0 30934 0 114383 0 8812 0 553698 0 0 0 JULIE NIX FINANCIAL ADVISOR 57464 0 470689 0 0 0 14500 0 2760 0 545413 0 0 0 SHEILA O'NEIL EXTERNAL MORTGAGE LOAN OFFICER 39482 0 449204 0 0 0 6385 0 844 0 495915 0 0 0 MISHEL KAUFMAN SVP RISK MANAGEMENT 309136 0 64727 0 0 0 83340 0 8999 0 466202 0 0 0 THERESA MITCHELL EXTERNAL MORTGAGE LOAN OFFICER 35223 0 386361 0 0 0 14500 0 5104 0 441188 0 0 0 TODD N LINDEMANN SVP PAYMENTS 269094 0 56263 0 1382 0 81246 0 1558 0 409543 0 0 0 CLARK R MATTHIESSEN FINANCIAL ADVISOR 59917 0 323520 0 856 0 8700 0 6953 0 399946 0 0 0 MATTHEW MARTIN SVP/COMM AND GOV'T RELATIONS 248746 0 38193 0 0 0 51965 0 3433 0 342337 0 0 0 JOSEPH TURFA FINANCIAL ADVISOR 58118 0 268725 0 0 0 8700 0 2157 0 337700 0 0 0 AARON COLLIER SVP IT 233882 0 36525 0 0 0 52519 0 7134 0 330060 0 0 0 KIMBERLY WILLIAMS SVP/STRATEGY, PROJECTS, CRE 233734 0 28813 0 2615 0 41646 0 0 0 306808 0 0 0 CHRISTINE FOSTER WEALTH ADVISOR 59072 0 233380 0 0 0 6061 0 1152 0 299665 0 0 0 DAVID GRIFFIS SR SBA/COMM LOAN OFFICER 86363 0 172086 0 0 0 13172 0 8984 0 280605 0 0 0 PART I, LINE 1A THE CREDIT UNION PROVIDES COMPENSATION FOR TRAVEL COMPANIONS FOR MEMBERS OF MANAGEMENT AND BOARD MEMBERS. PART I, LINE 4B 457(F) PLAN - THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF SENIOR MANAGEMENT. UNDER THE TERMS OF THE PLAN, THE PARTICIPANTS ARE ENTITLED TO BENEFITS IF THEY REMAIN EMPLOYED BY THE CREDIT UNION UNTIL A PREDETERMINED TIME. THESE BENEFITS ARE BASED ON ELEMENTS OF THE CREDIT UNION'S LONG TERM INCENTIVE PLAN, WHICH CONSIDERS INDIVIDUAL PERFORMANCE, AS WELL AS THE OVERALL PERFORMANCE OF THE CREDIT UNION, IN DETERMINATION OF EMPLOYEE BENEFITS. IF THESE EMPLOYEES BECOME FULLY DISABLED AS DEFINED IN THE AGREEMENT, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE. THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE AS DEFINED IN THE AGREEMENT. THE FOLLOWING WERE CONTRIBUTIONS MADE DURING 2021: BRETT MARTINEZ $303,817 CYNTHIA NEGRI $159,101 RONALD FELDER $102,077 ANTHONY E HILDESHEIM $99,938 KRISTINA DERKOS $79,683 DIANNA BERTHINIER $62,131 THOMAS HUBERT $59,406 MISHEL KAUFMAN $74,640 TODD LINDEMANN $70,060 MATTHEW MARTIN $39,669 AARON COLLIER $38,681 KIMBERLY WILLIAMS $28,428 THE FOLLOWING EMPLOYEES RECEIVED DISTRIBUTIONS FROM THIS PLAN DURING 2021: DIANE BERTHINIER $198,149 TOM HUBERT $186,702 PART I, LINE 4B SPLIT DOLLAR LIFE INSURANCE POLICY: THE CREDIT UNION HAS GRANTED NOTES RECEIVABLE FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT SENIOR MANAGEMENT PERSONNEL. THE NOTES ARE COLLATERALIZED BY THE ASSIGNMENT OF THE POLICY DEATH BENEFITS AND CASH VALUES, OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVE(S) WHO HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES FOR AMOUNTS NOT SECURED BY THE ASSIGNMENTS. AT THE TIME OF RETIREMENT, THE NOTE BECOMES DUE AND PAYABLE AND CAN BE PAID WITH THE CASH VALUE OF THE LIFE INSURANCE POLICIES, OR WITH OTHER PERSONAL FUNDS AT THE EXECUTIVE'S DISCRETION. THE LOANS ARE CONSIDERED NON-RECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE, PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. BRETT MARTINEZ PRESIDENT/CEO SPLIT DOLLAR PLAN INSURANCE POLICY X 15706866 14083229 0 1 1 BRETT MARTINEZ PRESIDENT/CEO SPLIT DOLLAR PLAN INSURANCE POLICY X 5200000 5232549 0 1 1 19315778 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY APPOINT AN EXECUTIVE COMMITTEE OF NO FEWER THAN THREE (3) DIRECTORS. WITH THE WRITTEN APPROVAL OF THE COMMISSIONER OF BUSINESS OVERSIGHT, THE EXECUTIVE COMMITTEE MAY ACT FOR THE BOARD OF DIRECTORS IN THE PURCHASE AND SALE OF SECURITIES, INVESTMENT AND WITHDRAWAL OF FUNDS, IN BORROWING FUNDS, AND TO MAKE LOANS TO OTHER CREDIT UNIONS IN ACCORDANCE WITH THE LAW AND REGULATIONS PERTAINING TO CREDIT UNIONS. 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 (AND THEIR BUSINESSES) THAT RESIDE IN OR ARE EMPLOYED IN SONOMA COUNTY AND SURROUNDING COUNTIES IN NORTHERN CALIFORNIA. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS. 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 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C VOLUNTEERS MUST DISCLOSE TO THE BOARD OF DIRECTORS ANNUALLY ANY INVOLVEMENT WITH ORGANIZATIONS WHICH DO BUSINESS WITH THE CREDIT UNION. CREDIT UNION SENIOR MANAGEMENT SIGNS A DISCLOSURE ANNUALLY PER POLICY. ALL EMPLOYEES ARE REQUIRED TO REPORT ANY POTENTIAL CONFLICTS OF INTEREST. FOR EMPLOYEES, THIS WOULD BE REPORTED TO THEIR SUPERVISOR. FOR DIRECTORS, THIS WOULD BE REPORTED ON THEIR CONFLICT OF INTEREST STATEMENT AND REPORTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION OF THE CEO IS APPROVED BY THE BOARD OF DIRECTORS AFTER THE COMPENSATION COMMITTEE GATHERS DATA FROM OUTSIDE SOURCES AND REVIEWS SURVEY AND OTHER DATA. FOR OTHER OFFICERS AND KEY EMPLOYEES, THIRD PARTY DATA IS USED TO ADJUST THE COMPENSATION TO MARKET DATA. ALL OF THE JOBS ARE GRADED, AND IN EACH GRADE, THERE IS A FLOOR, CEILING AND MARKET. ALL COMPENSATION DECISIONS ARE DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. QUARTERLY INCOME STATEMENTS ARE POSTED AT EACH BRANCH. ANNUAL FINANCIALS AND ANNUAL REPORT ARE AVAILABLE ON THE COMPANY'S WEBSITE. FORM 990, PART XI, LINE 9: LOSS ON CUSO INVESTMENTS -267,774. CREDIT FOR LOAN LOSSES 3,688,805. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. REDWOOD CREDIT UNION COMMUNITY FUND INC 3033 CLEVELAND AVENUE SANTA ROSA CA 95403 475084832 ADVANCING WELL-BEING OF THE COMMUNITY CA 501(C)(3) 7 REDWOOD CREDIT UNION 1 RCU SERVICES GROUP INC 3303 CLEVELAND AVE SUITE 100 SANTA ROSA CA 95404 680465274 INSURANCE AND AUTO SERVICES CA REDWOOD CREDIT UNION C 3850183 5814515 1.00000 0 1 1 0 1 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 RCU SERVICES GROUP INC A 68070 CASH REDWOOD CREDIT UNION COMMUNITY FUND INC B 1250000 CASH RCU SERVICES GROUP INC D 1458151 12/31/21 LOAN BALANCE RCU SERVICES GROUP INC L 386064 CASH RCU SERVICES GROUP INC P 203094 CASH RCU SERVICES GROUP INC Q 2922370 CASH