2022-11-14T13:53:15-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2021-01-01 941231186 SAN MATEO CREDIT UNION SANM 6503631716 350 CONVENTION WAY REDWOOD CITY CA 94063 DAVID DIAMOND VP, CFO 6503631716 2022-11-10 1 DAVID DIAMOND 999009999 MELISSA HANGSLEBEN P02087031 6022662248 2022-11-10 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z WADE PAINTER 350 CONVENTION WAY REDWOOD CITY CA 94063 59695637 0 X WWW.SMCU.ORG X 1952 CA PROVIDE A RANGE OF FINANCIAL PRODCUTS AND SERVICES TO IMPROVE THE FINANCIAL LIVES OF OUR MEMBERS. 7 7 250 13 136957 41261 0 0 57318010 56676373 4678611 188663 2273892 2477395 64270513 59342431 144439 69870 5790418 4053861 22014753 22002344 0 0 0 22183803 20457033 50133413 46583108 14137100 12759323 1435484397 1651880221 1286140036 1488332991 149344361 163547230 X PASSIONATELY DELIVER RELEVANT PRODUCTS, SERVICES, AND EDUCATION TAILORED TO HELP OUR MEMBERS, EMPLOYEES, AND COMMUNITIES ACHIEVE THEIR FINANCIAL GOALS. 0 0 SAN MATEO CREDIT UNION IS A FINANCIAL COOPERATIVE SERVING THE COMMUNITIES WITHIN SAN MATEO COUNTY, CITY OF PALO ALTO AND SELECT NEIGHBORHOODS IN SAN FRANCISCO. WE HAVE SEVEN BRANCHES THROUGHOUT THESE GEOGRAPHICAL AREAS AND A HEADQUARTERS OFFICE LOCATED IN REDWOOD CITY, CALIFORNIA. AS OF YEAR-END 2021, WE HAD APPROXIMATELY 106,000 MEMBER-OWNERS. WE OFFER OUR MEMBERS A WIDE ARRAY OF RETAIL FINANCIAL PRODUCTS AND SERVICES, AND WE PROVIDE FINANCIAL EDUCATION TO YOUTH AND ADULTS THROUGHOUT THE COMMUNITIES WE SERVE.SMCU OFFERS AN ARRAY OF CONSUMER FINANCIAL PRODUCTS, INCLUDING RESIDENTIAL REAL ESTATE LOANS, AUTOMOBILE LOANS, SECURED AND UNSECURED LOANS AND CREDIT CARDS, AS WELL AS CHECKING, SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 15818 0 250 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 CA X DAVID DIAMOND 6503631716 350 CONVENTION WAY REDWOOD CITY CA 94063 WADE PAINTER PRESIDENT/CEO 40.00 1.00 X 760117 0 21966 DAVID DIAMOND VP, CFO 40.00 1.00 X 293070 0 14087 VALERIE ALSIP EVP/COO 40.00 1.00 X 394303 0 13762 JENNIFER WILKINSON SVP/CLO 40.00 1.00 X 306160 0 16117 PATRICIA ELLINGSON VP REAL ESTATE LENDING 40.00 X 267051 0 10942 REBECCA NIXON VP HR 40.00 X 231491 0 17179 ROBERT CARTER VP ADMINISTRATIVE SERVICES 40.00 X 206792 0 12734 RICHARD KINZIE VP RISK 40.00 X 209572 0 15158 IGNASIO MEDRANO VP DIGITAL SERVICES 40.00 X 210676 0 12188 WILLIAM ANDREWS VP INFORMATION SERVICES 40.00 X 216509 0 14294 SUZANNE KNOWLTON VP MARKETING 40.00 1.00 X 205375 0 21048 DOREEN SZYMANKSKI VP MEMBER EXPERIENCE 40.00 X 189319 0 20715 DANI ROBINSON VP CREDIT RISK 40.00 X 178365 0 13518 CHERYL RAYO AVP REAL ESTATE 40.00 X 171777 0 8003 EMILIO JOHANSEN WEALTH ADVISOR 40.00 X 211925 0 20703 ANATOLY VILDERMAN WEALTH ADVISOR 40.00 X 165877 0 7819 JOHNNY ESCALANTE IS MANAGER 40.00 X 155974 0 13297 SILVIO GOMEZ REAL ESTATE SALES MANAGER 40.00 X 149324 0 10399 JANELLE EATON ESCALANTE DIRECTOR OF EMPLOYEE RELATIONS 40.00 X 137580 0 5198 BRIAN PONTY CHAIR 1.00 X X 0 0 0 MICHAEL CLAIRE VICE CHAIR 1.00 X X 0 0 0 KATE HARR TREASURER 1.00 X X 0 0 0 STEVE DIVNEY SECRETARY 1.00 X X 0 0 0 JOHN BEIERS DIRECTOR 1.00 X 0 0 0 DONNA VAILLANCOURT DIRECTOR 1.00 X 0 0 0 MAGDA GONZALEZ DIRECTOR 1.00 X 0 0 0 4661257 0 269127 38 0 1 0 PSCU 560 CARILLON PARKWAY STPETERSBURG FL 33716 CREDIT CARD PROCESSOR 1964047 VISA PO BOX 742233 LOS ANGELES CA 90074 CARD NETWORK PROVIDER 1090734 ALKAMI TECHNOLOGY 5601 GRANITE PARKWAY STE 120 PLANO TX 75024 MOBILE DEPOSIT 1031978 CO-OP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM & DEBIT CARD PROCESSOR 908378 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE SYSTEM 792723 5 INTEREST ON LOANS 522100 36114069 36114069 INTERCHANGE INCOME 522100 8572245 8572245 OTHER NONINTEREST INCOME 522100 6207126 6070169 136957 DEPOSIT SERVICE CHARGES AND FEES 522100 3671137 3671137 SALE OF LOANS 522100 2111796 2111796 56676373 188663 188663 2830601 353206 2477395 2477395 2477395 59342431 56539416 136957 2666058 59870 10000 4053861 4052290 13592766 904899 2179527 1272862 158387 323886 9830 2582430 1244760 1693955 2203937 14092 125944 101232 2505237 230298 ATM & CARD LOSSES 2810911 REPAIRS & MAINTENANCE 2164034 LOAN SERVICING 1989775 DEBIT AND CREDIT CARD F 1924214 374111 46583108 19438299 18839192 207324248 467846541 2992626 1311069 10820378 11132005 1001200215 1057423608 349041 394283 41942961 23782583 19468801 18160378 140000000 30157093 8008869 8167300 25881920 38448752 1435484397 1651880221 7304730 22864036 1278835306 1465468955 1286140036 1488332991 X 0 0 0 0 149344361 163547230 149344361 163547230 1435484397 1651880221 X 12759323 1234 1442312 X X 0 1 X 1 0 9830 0 0 9830 9830 1 CALIFORNIA CREDIT UNION LEAGUE PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 9830 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES TO POLITICAL ACTION COMMITTEES (PACS) IN SUPPORT OF CREDIT UNION ISSUES. 5000000 5000000 14740047 5840889 8899158 4151698 4151698 0 18051216 13789996 4261220 18160378 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1450495407 LEASE LIABILITIES 14973548 1465468955 X 59695637 0 59695637 -353206 -353206 59342431 45494002 -1089106 -1089106 46583108 0 46583108 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 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 AND HAS A MINIMAL NET OPERATING LOSS CARRYFORWARD AS OF THE 2020 CALENDAR YEAR. 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 ITS 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED TO THE STATEMENT OF REVENUE FROM EXPENSES -353,206. PART XII, LINE 2D - OTHER ADJUSTMENTS: CREDIT FOR LOAN LOSSES MOVED TO PART XI -1,442,312. RENTAL EXPENSES MOVED TO THE STATEMENT OF REVENUE FROM EXPENSES 353,206. 1 REDWOOD CITY POLICE ACTIVITIES LEAGUE 3399 BAY ROAD REDWOOD CITY CA 94063 943229506 501(C)(3) 11500 0 PAL GOLF TOURNAMENT SAN MATEO COUNTY HISTORICAL ASSOCIATION 2200 BROADWAY REDWOOD CITY CA 94063 237186194 501(C)(3) 10000 0 2021 ANNUAL FIRST FREE FRIDAYS SPONSORSHIP NATIONAL CREDIT UNION FOUNDATION INC 5710 MINERAL POINT RD MADISON WI 53705 391383650 501(C)(3) 10000 0 ANNUAL PROGRAM SUPPORT CHAMBER SAN MATEO COUNTY 1450 VETERANS BLVD 125 REDWOOD CITY CA 94063 940377914 501(C)(6) 9620 0 SEMINAR SPONSORSHIP THE SEQUOIA AWARDS PO BOX 2355 REDWOOD CITY CA 94064 943148844 501(C)(3) 6750 0 SCHOLARSHIP DONATION TO ANNUAL AWARDS KAINOS HOME & TRAINING CENTER 3631 JEFFERSON AVE REDWOOD CITY CA 94062 237408490 501(C)(3) 6000 0 MEMBERSHIP DRIVE DONATION CU FOR KIDS (CHILDREN MIRACLE NETWORK) 2855 E GUASTI ROAD SUITE 600 ONTARIO CA 91761 870387205 501(C)(3) 6000 0 SACTOWN RUN SPONSORSHIP 6 1 SCHOLARSHIPS 2 10000 PART I, LINE 2: THE COMMUNITY RELATIONS DEPARTMENT TEAM MAINTAINS RECORDS OF ALL GRANTS. SCHOLARSHIPS - SMCU HAS AN APPLICATION PROCESS WITH ELIGIBILITY CRITERIA AND RIGOROUS APPLICATION REVIEW PROCESS. THE SCHOLARSHIP SELECTIONS ARE DETERMINED BY A TRAINED PANEL OF SMCU EMPLOYEES. AWARDS ARE PAYABLE IN THE STUDENT'S NAME FOR THE STUDENT TO USE FOR ADMISSION, TUITION, OR SCHOOL-RELATED EXPENSES INCLUDING BOOKS AND ROOM AND BOARD. X X 1 1 X X X X 0 1 0 WADE PAINTER PRESIDENT/CEO 621562 0 127655 0 10900 0 17400 0 4566 0 782083 0 0 0 VALERIE ALSIP EVP/COO 363320 0 30883 0 100 0 13050 0 712 0 408065 0 0 0 DAVID DIAMOND VP, CFO 274195 0 18775 0 100 0 9752 0 4335 0 307157 0 0 0 JENNIFER WILKINSON SVP/CLO 272338 0 33822 0 0 0 9503 0 6614 0 322277 0 0 0 PATRICIA ELLINGSON VP REAL ESTATE LENDING 245158 0 21793 0 100 0 4358 0 6584 0 277993 0 0 0 REBECCA NIXON VP HR 212877 0 18514 0 100 0 13028 0 4151 0 248670 0 0 0 ROBERT CARTER VP ADMINISTRATIVE SERVICES 190044 0 16648 0 100 0 11484 0 1250 0 219526 0 0 0 RICHARD KINZIE VP RISK 195034 0 14438 0 100 0 10823 0 4335 0 224730 0 0 0 IGNASIO MEDRANO VP DIGITAL SERVICES 195746 0 14830 0 100 0 11776 0 412 0 222864 0 0 0 WILLIAM ANDREWS VP INFORMATION SERVICES 203241 0 13168 0 100 0 12261 0 2033 0 230803 0 0 0 SUZANNE KNOWLTON VP MARKETING 189764 0 14036 0 1575 0 12022 0 9026 0 226423 0 0 0 DOREEN SZYMANKSKI VP MEMBER EXPERIENCE 171260 0 15359 0 2700 0 10679 0 10036 0 210034 0 0 0 DANI ROBINSON VP CREDIT RISK 166307 0 12058 0 0 0 10179 0 3339 0 191883 0 0 0 CHERYL RAYO AVP REAL ESTATE 158383 0 13294 0 100 0 6571 0 1432 0 179780 0 0 0 EMILIO JOHANSEN WEALTH ADVISOR 210035 0 0 0 1890 0 13066 0 7637 0 232628 0 0 0 ANATOLY VILDERMAN WEALTH ADVISOR 163977 0 0 0 1900 0 7407 0 412 0 173696 0 0 0 JOHNNY ESCALANTE IS MANAGER 145962 0 9912 0 100 0 8804 0 4493 0 169271 0 0 0 SILVIO GOMEZ REAL ESTATE SALES MANAGER 123605 0 9675 0 16044 0 8379 0 2020 0 159723 0 0 0 PART I, LINE 1B IN ACCORDANCE WITH THE SMCU BYLAWS AND EXPENDITURES POLICY, OFFICIALS, DIRECTORS, AND SUPERVISORY COMMITTEE MEMBERS TRAVEL TO ATTEND CONTINUING EDUCATION AND INDUSTRY-RELATED SEMINARS, CONFERENCES, AND MEETINGS. PART I, LINE 4B THE CREDIT UNION HAS MADE A LOAN FOR LIFE INSURANCE PREMIUM PAYMENTS TO A MEMBER OF MANAGEMENT. THE LOAN IS COLLATERALIZED BY THE ASSIGNMENT OF THE POLICY DEATH BENEFITS AND CASH VALUES OF EACH RESPECTIVE LIFE INSURANCE POLICY, PLUS INCOME ANNUITIES USED TO FUND THE POLICIES. THE POLICIES ARE OWNED BY THE EXECUTIVE AND THE EXECUTIVE HAS THE RIGHT TO NAME THE BENEFICIARIES FOR AMOUNTS NOT SECURED BY THE ASSIGNMENTS. WADE PAINTER PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 9659000 11132005 0 1 1 11132005 FORM 990, PART VI, SECTION A, LINE 6 YOU ARE ELIGIBLE FOR MEMBERSHIP IN SMCU IF: - YOU LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN SAN MATEO COUNTY, THE CITY OF PALO ALTO, OR SELECT SAN FRANCISCO ZIP CODES: 94110, 94112, 94116, 94122 94124, 94132, OR 94134. -YOU ARE A MEMBER OF OR EMPLOYED BY ONE OF OUR PARTNER ORGANIZATIONS OR BUSINESSES. - YOU HAVE A FAMILY MEMBER, DOMESTIC PARTNER, OR ROOMMATE THAT IS A MEMBER OF SMCU. 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 PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. 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. FORM 990 AND SUMMARY ARE PROVIDED TO THE BOARD OF DIRECTORS SUBSEQUENT TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES OF THE CREDIT UNION SHALL NOT ENGAGE IN ANY ACTIVITIES WHICH ARE OR COULD BE IN CONFLICT WITH THEIR STATUS AS A CREDIT UNION EMPLOYEE. THIS INCLUDES THE USE OF ONE'S STATUS AS AN EMPLOYEE FOR PERSONAL PROFIT OR ADVANTAGE. IN ADDITION, IT IS UNLAWFUL FOR AN EMPLOYEE OR OFFICER OF THE CREDIT UNION TO USE INFORMATION AND DISCLOSURE OF MEMBER ASSETS AND PERSONAL DATA FOR PERSONAL GAIN OR OTHER FRAUDULENT PURPOSES. SUCH ACTIVITY ON THE PART OF ANY EMPLOYEE WILL RESULT IN IMMEDIATE DISMISSAL. ANNUALLY EMPLOYEES AND THE BOARD OF DIRECTORS MUST REVIEW, DISCLOSE, AND SIGN THE CONFLICT OF INTEREST DOCUMENT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT IS DETERMINED BY CONDUCTING AN INDEPENDENT COMPENSATION ANALYSIS, WHICH IS REVIEWED BY THE COMPENSATION COMMITTEE. THE COMPENSATION DETERMINATION IS ALSO SUPPORTED BY A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY, APPROVAL OF BOARD, AND INDEPENDENT COMPENSATION CONSULTANT. THIS PROCESS WAS LAST COMPLETED IN 2021. FOR OFFICERS AND KEY EMPLOYEES, COMPENSATION IS DETERMINED BY CONDUCTING AN INDEPENDENT COMPENSATION ANALYSIS. COMPENSATION IS THEN DETERMINED AND APPROVED BY THE CEO. THE COMPENSATION DECISION IS DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CREDIT FOR LOAN LOSSES 1,442,312. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SMCU COMMUNITY FUND 350 CONVENTION WAY REDWOOD CA 94063 850663372 NONPROFIT FUND TO SUPPORT FINANCIAL WELLNESS IN OUR COMMUNITY CA 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0