2022-11-14T09:32:54-06:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 941530642 SACRAMENTO CREDIT UNION SACR 9164446070 PO BOX 2351 SACRAMENTO CA 958122351 GLENDA KAISER CFO 9164446070 2022-11-11 1 GLENDA KAISER XXX-XX-XXXX JENIFER L CHASE P01306883 5638884000 2022-11-11 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z BHAVNESH MAKIN PO BOX 2351 SACRAMENTO CA 958122351 22530318 0 X WWW.SACTOCU.ORG X 1935 CA TO PROVIDE PROMPT, COMPETITIVE, QUALITY CONSUMER FINANCIAL SERVICES TO OUR MEMBERS. 7 7 140 12 128895 0 0 0 20161808 19412904 3160871 2776973 -50670 16388 23272009 22206265 0 0 1703334 1331204 8281008 8942601 0 0 0 6443428 6147248 16427770 16421053 6844239 5785212 606462494 686832962 523442253 598027509 83020241 88805453 X SACRAMENTO CREDIT UNION'S MISSION IS TO PROVIDE PROMPT, COMPETITIVE, QUALITY CONSUMER FINANCIAL SERVICES TO OUR MEMBERS IN A FRIENDLY, PROFESSIONAL, AND PRUDENT MANNER. 1 0 ESTABLISHED MARCH 18, 1935, SACRAMENTO CREDIT UNION (SCU) IS INCORPORATED UNDER SECTION 14100 OF THE CREDIT UNION DIVISION OF THE STATE OF CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT. SCU IS A FEDERALLY INSURED COMMUNITY CREDIT UNION SERVING 27,633 MEMBERS ACROSS THE FOLLOWING COUNTIES: SACRAMENTO, EL DORADO, PLACER, SOLANO, SUTTER, YOLO, AND YUBA. COMPOSED OF INDIVIDUALS, CORPORATIONS, PARTNERSHIPS, AND OTHER LEGAL ENTITIES, SCU MAINTAINS THE STANDARDS OF A TRADITIONAL MEMBER-OWNED COOPERATIVE WHILE PROVIDING SUPERIOR FINANCIAL SERVICES AT SEVEN LOCATIONS AS WELL AS CONVENIENT PAYMENT OPPORTUNITIES AFFORDED BY ONLINE BANKING, BILL PAY, MOBILE BANKING, POINT-OF-SALE, AND ATM TRANSACTIONS. SCU OFFERS A WIDE RANGE OF COMPETITIVELY PRICED CONSUMER LOAN PRODUCTS TO HELP MEMBERS WITH FINANCING FOR VEHICLES AND FIRST MORTGAGES. FINANCING IS ALSO AVAILABLE IN THE FORM OF SECURED AND UNSECURED LINES OF CREDIT. REGARDING THE LATTER, SCU OFFERS VISA PLATINUM CREDIT CARDS BOTH WITH AND WITHOUT THE POPULAR REWARDS FEATURE. SCU ALSO OFFERS COMMERCIAL REAL ESTATE LOANS AND SBA LOANS. SCU OFFERS A BROAD RANGE OF DEPOSIT PRODUCTS TO ASSIST MEMBERS IN MANAGING CASH FLOW AND SAVING FOR THE FUTURE. INSURED TO AT LEAST $250,000 AND BACKED BY THE FULL FAITH AND CREDIT OF THE FEDERAL GOVERNMENT, SAVINGS OPPORTUNITIES INCLUDE THE FOLLOWING COMPETIVELY PRICED ACCOUNTS: REGULAR, VACATION CLUB, HOLIDAY, IRA, MONEY MARKET, REGULAR AND REWARDS CHECKING, AND CERTIFICATES OF DEPOSIT. SAVINGS IS MADE CONVENIENT VIA DIRECT DEPOSIT OF PAY CHECKS AS WELL AS ANY OTHER RECURRING SOURCE OF CASH INFLOW. THROUGH ONLINE, MOBILE OR TELEPHONE BANKING, MEMBERS CAN EASILY TRANSFER FUNDS BETWEEN SAVINGS ACCOUNTS OR MAKE PAYMENT ON LOANS. ALSO AVAILABLE ARE INVESTMENT SERVICES PROVIDED BY CERTIFIED IN-HOUSE FINANCIAL ADVISORS. 0 0 1 0 0 0 0 0 0 1 1 0 0 1 0 0 0 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 8288 0 1 140 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 0 0 0 0 1 0 0 1 1 1 0 0 CA X GLENDA KAISER 9164446070 PO BOX 2351 SACRAMENTO CA 958122351 LES BROWN CHAIR 1.00 X X 0 0 0 WILLIE L SOUTHWARD III VICE CHAIR 1.00 X X 0 0 0 ARON BREWER SECRETARY-TREASURER 1.00 X X 0 0 0 MARY ANN CARRASCO DIRECTOR 1.00 X 0 0 0 LINDA FOSTER-HALL DIRECTOR 1.00 X 0 0 0 JUDY MCGARRY DIRECTOR 1.00 X 0 0 0 KRISTIN VAN GAASBECK DIRECTOR 1.00 X 0 0 0 BHAVNESH MAKIN PRESIDENT/CEO 40.00 X 407863 0 32557 GLENDA KAISER CFO 40.00 X 154370 0 38064 TARIK ELDIN DIRECTOR INVESTMENT SERVICES 40.00 X 831728 0 67692 DERI ROSS MORTGAGE LOAN CONSULTANT 40.00 X 237602 0 38711 MICHAEL HASTINGS FINANCIAL ADVISOR 40.00 X 207164 0 37542 MICHAEL MAXWELL VP CONSUMER LENDING 40.00 X 130197 0 38489 ALETHA HICKEY VP HUMAN RESOURCES 40.00 X 127201 0 17140 2096125 0 270195 11 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CARD PROCESSOR 497748 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE/MOBILE BANKING PROVIDER 451709 FINASTRA PO BOX 535120 ATLANTA GA 30353 DATA PROCESSING 203087 MASTER CRAFT BUILDERS 5555 AGUILAR ROAD ROCKLIN CA 95677 CONSTRUCTION CONTRACTOR 153160 MERIDIAN LINK PO BOX 846822 LOS ANGELES CA 900846822 LENDING SOFTWARE 144318 7 NET LOAN PORTFOLIO 522100 11171136 11171136 OTHER INCOME 522100 6754574 6625679 128895 FEE INCOME 522100 1487194 1487194 19412904 2789920 2789920 159179 142791 16388 16388 16388 168315 181262 -12947 -12947 -12947 22206265 19284009 128895 2793361 1331204 632854 6583787 403047 820886 502027 18971 66158 510663 291117 311986 1175360 847011 37838 67 791344 65406 VISA OPERATIONS 829900 LENDING COLLECTIONS 589110 ATM OPERATIONS 429841 182476 16421053 3083943 3102367 42344546 53233910 607617 646909 3382279 3526939 307646612 345793133 505730 466151 14673935 9893458 5121234 4780477 223524078 257175097 20246455 18107979 606462494 686832962 4521058 4504770 5000000 513921195 593522739 523442253 598027509 X 0 0 0 0 83020241 88805453 83020241 88805453 606462494 686832962 5785212 0 X 0 0 0 2720 0 0 2720 2720 1 CCUL PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 999999999 2720 0 PART I-A, LINE 1: SACRAMENTO CREDIT UNION PARTICIPATES IN POLITICAL CAMPAIGN ACTIVITIES SO WE HAVE AN OPPORTUNITY TO PROVIDE INPUT ON LEGISLATION THAT AFFECTS CREDIT UNIONS. 233500 233500 6679619 4720514 1959105 2499874 1120477 1379397 5260942 4052467 1208475 4780477 FEDERAL AGENCY SECURITIES 212241480 C FEDERALLY INSURED CDS 23556000 C CUSO & MISCELLANEOUS 3293408 C INVESTMENT IN CORP CREDIT UNIONS 600000 C US TREASURIES 17484209 C 257175097 CORE DEPOSITS 215586711 MONEY MARKET 151054802 SHAREDRAFT WITH DIVIDENDS 135055890 SHAREDRAFT WITHOUT DIVIDENDS 40370408 IRA SHARES: ROTH & EDUCATION 667889 IRA SHARES: TRADITIONAL 4427438 IRA CERTIFICATES 5747326 SHARE CERTIFICATES 40612275 593522739 X X X X 0 0 0 TARIK ELDIN DIRECTOR INVESTMENT SERVICES 18429 0 93572 0 719727 0 31610 0 36082 0 899420 0 0 0 BHAVNESH MAKIN PRESIDENT/CEO 327121 0 38540 0 42202 0 30560 0 1997 0 440420 0 0 0 DERI ROSS MORTGAGE LOAN CONSULTANT 26000 0 0 0 211602 0 23835 0 14876 0 276313 0 0 0 MICHAEL HASTINGS FINANCIAL ADVISOR 21696 0 24479 0 160989 0 20863 0 16679 0 244706 0 0 0 GLENDA KAISER CFO 131314 0 15000 0 8056 0 13795 0 24269 0 192434 0 0 0 MICHAEL MAXWELL VP CONSUMER LENDING 129834 0 0 0 363 0 6750 0 31739 0 168686 0 0 0 BHAVNESH MAKIN OFFICER OF ORGANIZATION SPLIT DOLLAR POLICY LOAN X 3500000 3526939 0 1 1 3526939 LOANS TO INTERESTED PERSONS: IN DECEMBER 2016, THE CREDIT UNION ENTERED INTO AN AGREEMENT WITH A SENIOR EXECUTIVE WHEREBY THE CREDIT UNION MADE A LOAN TO THE EXECUTIVE TO MAKE THE PAYMENTS FOR PREMIUMS ON LIFE INSURANCE POLICIES. THE LOAN IS SECURED BY A PORTION OF THE POLICIES' BENEFITS. THE EXECUTIVE IS THE OWNER AND BENEFICIARY OF THE POLICIES. THE CREDIT UNION RECORDED A RECEIVABLE FROM THE EXECUVITE FOR THE PREMIUMS PAID TO THE INSURANCE COMPANY. FORM 990, PART III, LINE 2 OFFERED SBA PAYCHECK PROTECTION PROGRAM LOANS. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF SEPTEMBER 30TH, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST. FORM 990, PART VI, SECTION A, LINE 6 SACRAMENTO CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS ARE ELECTED BY THE MEMBERS OF SACRAMENTO CREDIT UNION AT THEIR ANNUAL MEETING AND ARE ELECTED FOR A PERIOD OF THREE (3) YEARS. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO BEFORE IT IS FILED WITH IRS. FORM 990, PART VI, SECTION B, LINE 12 MANAGERS ARE RESPONSIBLE AND HELD ACCOUNTABLE FOR SUPERVISING THE DAILY TRANSACTIONS AND ACTIVITIES PERFORMED WITHIN THEIR RESPECTIVE DEPARTMENTS INCLUDING, BUT NOT LIMITED TO, MONITORING ALL GIFTS AND GRATUITIES RECEIVED BY STAFF FROM VENDORS OR MEMBERS AND MONITORING FOR OUTSIDE EMPLOYMENT BY STAFF THAT COULD POSE A POTENTIAL CONFLICT OF INTEREST. MANAGERS ARE RESPONSIBLE FOR DOCUMENTING ALL SITUATIONS THAT MAY PRESENT A CONFLICT OF INTEREST AND FOR BRINGING TO A VICE PRESIDENT'S ATTENTION ANY AND ALL VIOLATIONS OF POLICY. VICE PRESIDENTS ARE RESPONSIBLE FOR SUPERVISING ALL TRANSACTION AND ACTIVITIES PERFORMED BY MANAGERS. COMPLIANCE WITH POLICY IS ENFORCED THROUGH THE USE OF THE DISCIPLINARY PROCESS FOR FAILURE TO DISCLOSE INFORMATION RELATIVE TO A POTENTIAL CONFLICT OF INTEREST AND FOR ANY AND ALL VIOLATIONS OF POLICY. FORM 990, PART VI, SECTION B, LINE 15A A COMPENSATION BENCHMARKING SYSTEM, COMPEASE, WAS IMPLEMENTED IN NOVEMBER 2017 AND IS USED ANNUALLY TO BENCHMARK OUR SALARIES AGAINST SIMILARLY SITUATED COMPANIES. COMPEASE IS ALSO USED TO ESTABLISH SALARY RANGES FOR ALL POSITIONS. WHEN SETTING OFFICER AND KEY EMPLOYEE COMPENSATION, FACTORS TAKEN INTO CONSIDERATION ARE COMPA RATIO, SUBJECT EXPERTISE, INDUSTRY EXPERIENCE, JOB TENURE AND JOB PERFORMANCE. THE CEO APPROVES ALL SALARY RANGES BASED ON DATA PROVIDED FROM COMPEASE. THE BOARD OF DIRECTORS CONSULTS WITH A THIRD PARTY CONSULTANT TO ESTABLISH THE CEO'S COMPENSATION. THE BOARD OF DIRECTORS KEEPS CONTEMPORANEOUS SUBSTANIATION OF THE DECISION MAKING PROCESS USED TO DETERMINE THE CEO COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS ARE MADE AVAILABLE TO MEMBERS UPON REQUEST. CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN BRANCH LOBBIES.