2022-11-15T13:59:57-06:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 941484851 CREDIT UNIONS IN THE STATE OF CALIFORNIA SIERRA CENTRAL CREDIT UNION CRED 8002227228 1351 HARTER PKWY YUBA CITY CA 95993 STEPHANIE DICKINSON CFO 8002227228 2022-11-15 1 STEPHANIE DICKINSON 999009999 JENIFER L CHASE P01306883 5638884000 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z SIERRA CENTRAL CREDIT UNION JOHN CASSIDY 1351 HARTER PKWY YUBA CITY CA 95993 51784136 0 1 X WWW.SIERRACENTRAL.COM X 1955 CA AS YOUR FINANCIAL INSTITUTION: WE PLEDGE TO SERVE YOU AND OUR COMMUNITY FAITHFULLY; WE WILL BE FRIENDLY, HELPFUL AND PROFESSIONAL. WE WILL PROVIDE GREAT PRODUCTS AND COMPETITIVE RATES. 7 7 311 10 171061 0 0 0 49654600 49512915 3290493 2271221 0 0 52945093 51784136 21000 20000 6317868 4411403 16408210 18277773 0 0 0 20859131 18379041 43606209 41088217 9338884 10695919 1305531617 1450440549 1170772872 1304985885 134758745 145454664 AS YOUR FINANCIAL INSTITUTION: WE PLEDGE TO SERVE YOU AND OUR COMMUNITY FAITHFULLY; WE WILL BE FRIENDLY, HELPFUL AND PROFESSIONAL. WE WILL PROVIDE GREAT PRODUCTS AND COMPETITIVE RATES. 0 0 SIERRA CENTRAL CREDIT UNION (SCCU) PROVIDES FINANCIAL SERVICES, INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRA SAVINGS ACCOUNTS AND REGULAR AND IRA CDS TO MEMBER OWNERS. MEMBERS HAVE ACCESS TO OVER 30,000 ATMS, ONLINE BANKING AND DEBIT CARDS. IN 2021 SCCU PROVIDED FINANCIAL SERVICES, SAVINGS AND LOAN ACCOUNTS TO 73,508 MEMBERS AND FUNDED $344.8M IN LOANS. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 14322 0 1 311 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 0 0 1 1 1 0 0 CA X STEPHANIE DICKINSON 8002227228 1351 HARTER PKWY YUBA CITY CA 95993 DEVIN BARBER CHAIR 2.00 X X 0 0 0 TIB BELZA VICE CHAIR 2.00 X 0 0 0 TONY GAYLEAN DIRECTOR 2.00 X 0 0 0 BALDEV JOHAL DIRECTOR 2.00 X 0 0 0 DIANA LANGLEY DIRECTOR 2.00 X 0 0 0 DIANE MEYERS SECRETARY/TREASURER 2.00 X X 0 0 0 DAN MIERZWA DIRECTOR 2.00 X X 0 0 0 JOHN CASSIDY CEO 40.00 X 502825 0 40478 STEPHANIE DICKINSON CFO 40.00 X 287637 0 50885 RON SWEENEY COO/EVP 40.00 X 504501 0 49994 MICHAEK CARTOSCELLI CRO, SVP RETAIL BANKING 40.00 X 268946 0 29712 STEVE HENDERSON CIO, SVP ISIT & FACILITIES 40.00 X 296137 0 40478 DAVID KELSAY CLO, SVP LENDING 40.00 X 286677 0 42478 BARBARA MENEFEE VP OF MARKETING 40.00 X 268562 0 49644 DAVID BUMPUS BUSINESS DEVELOPMENT MANAGER 40.00 X 143130 0 33902 ERNEST MARTIN VP REAL ESTATE 40.00 X 143629 0 30621 WALTER MEYER VP OF COMMERCIAL LENDING 40.00 X 160568 0 21678 KATHLEEN STEINER VP ISIT 40.00 X 175078 0 24085 NICOLE STRAGALAS VP OF TRAINING 40.00 X 150113 0 18584 3187803 0 432539 26 0 1 0 FISERV INC 75 REMITTANCE DR 6962 CHICAGO IL 60675 IT SERVICES 2840214 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICING 1119641 TPX COMMUNICATIONS PO BOX 509013 SAN DIEGO CA 92150 COMMUNICATION SERVICES 618774 QUEST MEDIA PO BOX 430 ROSEVILLE CA 95678 IT SERVICES 414775 EXPERIAN PO BOX 881971 LOS ANGELES CA 90088 CREDIT SCORING 391780 21 LOAN INTEREST INCOME 522110 37519096 37519096 SERVICE CHARGES & OTHER FEES 522110 9784635 9613574 171061 OTHER NONINTEREST INCOME 522110 1304143 1304143 RECOVERY OF LOAN LOSS 522110 905041 905041 49512915 2271221 2271221 51784136 49341854 171061 2271221 20000 4411403 2718952 11733153 673283 2020191 1132194 196398 172746 34018 100248 436122 4744919 1779193 2151538 196219 9795 554 2285907 252119 PLASTIC CARD OPERATIONS 3102242 LOAN SERVICING 1656143 1260880 41088217 17187570 15903856 215983530 218962835 12784634 12951322 809738348 813874412 1041020 1293131 67549230 26515584 40356061 41033646 192940181 329923535 15500273 16497812 1305531617 1450440549 11225721 10548114 1337361 1239322 1158209790 1293198449 1170772872 1304985885 X 0 0 0 0 134758745 145454664 134758745 145454664 1305531617 1450440549 10695919 0 X X 0 1 X 1 0 17000 17000 17000 1 CA CREDIT UNION LEAGUE PAC PO BOX 51476 ONTARIO CA 917610076 942329967 17000 0 PART I-A, LINE 1: SIERRA CENTRAL CREDIT UNION CONTRIBUTED FINANCIALLY TO THE CALIFORNIA CREDIT UNION LEAGUE'S POLITICAL ACTION COMMITTEE. 1 312092 841763 806729 347126 1 X 12429647 12429647 30411705 8661581 21750124 1224032 1149442 74590 21720530 16335821 5384709 1763316 368740 1394576 41033646 FHLB STOCK 4026300 C CO-OP STOCK 20000 C CUDL STOCK 500000 C FEDERAL AGENCY SECURITIES 94866622 F US TREASURIES 230510613 F 329923535 MEMBER SHARES 1293198449 1293198449 X 50879095 0 50879095 905041 905041 51784136 40183176 -905041 -905041 41088217 0 41088217 PART IV, LINE 1B: WE HOLD ESCROW ACCOUNTS FOR LOANS THAT ARE NOT OWNED BY THE CREDIT UNION, BUT ARE SERVICED BY THE CREDIT UNION. PART IV, LINE 2B: THE CREDIT UNION HOLD FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. PART X, LINE 2: FOR THE YEAR ENDED DECEMBER 31, 2021, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECOVERY OF LOAN LOSS RECLASIFIED FROM FUNCTIONAL EXPENSE 905,041. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECOVERY OF LOAN LOSS RECLASIFIED TO STATEMENT OF REVENUE -905,041. 1 SCHOLARSHIPS TO STUDENTS ATTENDING COLLEGE 20 20000 0 CASH VALUE N/.A PART I, LINE 2: FUNDS FOR COLLEGE SCHOLARSHIPS ARE SENT DIRECTLY TO THE RECIPIENTS AND THE CREDIT UNION DOES NOT MONITOR THE USE OF THE FUNDS. X X 1 1 X X 0 0 0 RON SWEENEY COO/EVP 474545 0 27634 0 2322 0 20300 0 29694 0 554495 0 0 0 JOHN CASSIDY CEO 468556 0 30705 0 3564 0 20300 0 20178 0 543303 0 0 0 STEPHANIE DICKINSON CFO 251901 0 0 0 35736 0 20300 0 30585 0 338522 0 0 0 STEVE HENDERSON CIO, SVP ISIT & FACILITIES 257914 0 0 0 38223 0 20300 0 20178 0 336615 0 0 0 DAVID KELSAY CLO, SVP LENDING 245525 0 0 0 41152 0 20300 0 22178 0 329155 0 0 0 BARBARA MENEFEE VP OF MARKETING 230408 0 0 0 38154 0 19559 0 30085 0 318206 0 0 0 MICHAEK CARTOSCELLI CRO, SVP RETAIL BANKING 232312 0 0 0 36634 0 13720 0 15992 0 298658 0 0 0 KATHLEEN STEINER VP ISIT 164096 0 0 0 10982 0 12492 0 11593 0 199163 0 0 0 WALTER MEYER VP OF COMMERCIAL LENDING 150768 0 0 0 9800 0 11385 0 10293 0 182246 0 0 0 DAVID BUMPUS BUSINESS DEVELOPMENT MANAGER 135473 0 0 0 7657 0 10421 0 23481 0 177032 0 0 0 ERNEST MARTIN VP REAL ESTATE 132404 0 0 0 11225 0 10443 0 20178 0 174250 0 0 0 NICOLE STRAGALAS VP OF TRAINING 139360 0 0 0 10753 0 7596 0 10988 0 168697 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - TRAVEL FOR COMPANIONS IS ONLY PROVIDED FOR BOARD AND SUPERVISORY COMMITTEE MEMBERS. EXPENSES ARE TRACKED DURING THE YEAR AND FORM 1099 IS FILED IF THE $600 REPORTING THRESHOLD IS MET. SOCIAL CLUB DUES - GOLF CLUB DUES ARE PROVIDED TO SVPS AND ABOVE TO COVER THE COST OF THEIR DUES AT THE LOCAL GOLF CLUB. THIS AMOUNT IS INCLUDED IN THEIR W-2. JOHN CASSIDY OFFICER OF ORGANIZATION FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICIES X 6275594 7011301 0 1 1 RON SWEENEY OFFICER OF ORGANIZATION FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICIES X 5316725 5940021 0 1 1 12951322 FORM 990, SCHEDULE L, PART II - LOANS TO INTERESTED PERSONS SPLIT-DOLLAR PLAN: THE CREDIT UNION ENTERED INTO AN AGREEMENT WITH SENIOR EXECUTIVES, JOHN CASSIDY AND RON SWEENEY, WHEREBY THE CREDIT UNION MADE A FULLY SECURED LOAN TO THE EXECUTIVES TO MAKE THE PAYMENTS FOR PREMIUMS ON LIFE INSURANCE POLICIES. THE LOAN IS SECURED BY A PORTION OF THE POLICIES BENEFITS. THE EXECUTIVES ARE THE OWNERS AND BENEFICIARIES OF THE POLICIES. FORM 990, PART I, ITEM C DBA: SIERRA CENTRAL CREDIT UNION FORM 990, PART VI, SECTION A, LINE 6 SIERRA CENTRAL CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. 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 B, LINE 11B A COPY OF FORM 990 WILL BE PROVIDED ELECTRONICALLY TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS CONTRACT WITH AN EXTERNAL CONSULTING COMPANY TO PROVIDE COMPARABLE COMPENSATION DATA FOR LIKE POSITIONS. AFTER DISCUSSION AMONGST BOARD MEMBERS CONDUCTED IN CLOSED SESSION FORMAT THE COMPENSATION PACKAGE, IN CONJUNCTION WITH THE EMPLOYEE CONTRACTS, WERE PRESENTED TO AND ACCEPTED BY THE CEO IN 2007. THE COO'S SALARY IS A PERCENTAGE OF THE CEO'S SALARY. THE PERCENTAGE IS DETERMINED BY THE BOARD AND IS UP TO THEIR DISCRETION. ALL OTHER OFFICERS AND KEY EMPLOYEE SALARIES WERE DETERMINED BY GATHERING COMPARABLE DATA FROM MULTIPLE SOURCES AND ANALYZING IT TO DETERMINE A SALARY. THIS INFORMATION WAS THEN PRESENTED TO JOHN CASSIDY, CEO AND RON SWEENEY, COO AND THEY BOTH APPROVED IT. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED INTERNALLY THROUGH THE ANNUAL APPRAISAL PROCESS, WHICH IS APPROVED BY THE IMMEDIATE SUPERVISOR. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH BRANCH. ALL OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. FORM 990, PART I, LINE 6: THE 9 VOLUNTEERS CONSIST OF THE 6 BOARD MEMBERS AND 3 SUPERVISORY COMMITTEE MEMBERS.