2021-11-03T12:59:39-05:00 2020-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2020-01-01 951652797 VALLEY STRONG CU FKA KERN SCHOOLS FEDERAL CREDIT UNION VALL 6618337900 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 NICHOLAS AMBROSINI EVP,CFO 6618337900 2021-10-28 1 NICHOLAS AMBROSINI 999009999 VALENTINO CREUS CPA P01054153 8189549700 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z STEVE RENOCK 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 100286496 0 X WWW.VALLEYSTRONG.COM X CREDIT UNION 1938 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 11 11 522 16 775142 0 0 0 47040268 76560645 12524607 19904329 27166268 3295306 86731143 99760280 0 856994 0 0 31012315 36368477 0 0 0 38704207 42985313 69716522 80210784 17014621 19549496 1797260753 2205905112 1613720810 1997741705 183539943 208163407 X SEE SCHEDULE OVALLEY STRONG CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, VALLEY STRONG CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 MEMBERSHIP EDUCATION CONFERENCES: WE HAVE AN EXTENSIVE WORKSHOP/WEBINAR PROGRAM WITH TOPICS WHICH ARE TYPICALLY HELD TWICE A MONTH. TOPICS COVERED ARE AUTO AND HOME BUYING, RETIREMENT AND WEALTH MANAGEMENT, BUSINESS BANKING, CYBER SECURITY AND MEDICARE ASSISTANCE. ADDITIONALLY, WE HOLD FINANCIAL LITERACY CLASSES OFF-SITE AT LOCAL ELEMENTARY, JUNIOR HIGH, HIGH SCHOOLS, AND COLLEGES TO HELP INTRODUCE FINANCIAL KNOWLEDGE TO OUR YOUNG COMMUNITY MEMBERS. ONGOING MARKETING STRATEGIES: WE HAVE FOCUSED OUR MARKETING EFFORTS TOWARD BRANDING IN OUR EXPANSION MARKETS, CHECKING OFFERINGS, MORTGAGE AND AUTO LOAN OPTIONS, BUSINESS BANKING OPPORTUNITIES, AND RETIREMENT AND WEALTH MANAGEMENT POSSIBILITIES. COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: WE PROVIDE MEMBERS UP TO DATE RULES AND REGULATIONS GOVERNING THE CREDIT UNION AS WELL AS PROVIDING COMPLIANCE ASSISTANCE. 0 0 1 0 0 0 0 0 0 1 0 1 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 1 0 0 0 1 24875 0 1 522 1 1 1 0 0 0 0 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 0 1 1 1 0 CA X X STACY PHELPS CONTROLLER 6618337024 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 DR LARRY REIDER CHAIRMAN 3.00 X 0 0 0 MIKE KILEEN 1ST VICE CHAIRMAN 3.00 X 0 0 0 JOE DREW 2ND VICE CHAIRMAN 3.00 X 0 0 0 CARL LANGE III TREASURER 3.00 X 0 0 0 JOANNE MILLS SECRETARY 3.00 X 0 0 0 DR S WILLIAM BRUCE DIRECTOR 2.00 X 0 0 0 MARILYN JONES DIRECTOR 2.00 X 0 0 0 DR DENNIS SCOTT DIRECTOR 2.00 X 0 0 0 DR JAMES FILLBRANDT DIRECTOR 2.00 X 0 0 0 DOUG MILLER DIRECTOR 2.00 X 0 0 0 DR BYRON SCHAEFER DIRECTOR 2.00 X 700 0 0 TROY FRINGER SPVE CMTE CHAIR 3.00 X 0 0 0 KEN GRAGG SPVE CMTE MEMBER 2.00 X 0 0 0 RAMON HENDRIX SPVE CMTE MEMBER 2.00 X 0 0 0 DAN SHANNON SPVE CMTE MEMBER 2.00 X 0 0 0 TENIELLE TENSLEY SPVE CMTE MEMBER 2.00 X 0 0 0 STEPHEN P RENOCK IV PRESIDENT/CEO 40.00 X 1937593 0 547612 NICHOLAS AMBROSINI EVP/CFO 40.00 X 801441 0 49689 STEVEN MATEJKA EVP/COO 40.00 X 1026141 0 56737 MICHAEL GEORGE FORMER SVP/CHIEF MARKETING INNOVATION & ADVOCACY OFFICER 40.00 X 881343 0 58597 RUDY TAFOYA FORMER SVP CHIEF LENDING OFFICER 40.00 X 400000 0 26772 MARK MANNS SVP/CHIEF HUMAN RESOURCES OFFICER 40.00 X 397635 0 8887 STEPHEN ROACH SVP/CHIEF INFORMATION OFFICER 40.00 X 388845 0 53000 CHARLES SMITH SVP/CHIEF LENDING OFFICER 40.00 X 331086 0 22293 SHONNA SHEARSON SVP OF OPERATIONS 40.00 X 257427 0 9847 JAMES HUSSEY DIRECTOR OF WEALTH MANAGEMENT 40.00 X 316494 0 52029 DEANNA BLAISE VP OF MEMBER BUSINESS SERVICES 40.00 X 295175 0 50856 CHEI WHITMORE VP OF BRANCHES 40.00 X 224365 0 47018 TIMOTHY SPENCER VP OF LENDING 40.00 X 218117 0 15692 CHRISTOPHER HANSON VP OF APPLICATIONS AND DEVELOPMENT 40.00 X 199452 0 7952 LINDSAY REYES VP OF ACCOUNTING 40.00 X 187918 0 35636 LEE JACOBS VP OF INFORMATION TECHNOLOGY 40.00 X 180673 0 19550 AMIE HALE DIRECTOR OF E-SERVICES 40.00 X 177417 0 10091 KEVIN MCCLOSKEY DIRECTOR OF IT DEVELOPMENT 40.00 X 169473 0 49330 MARIA TRANCOSO SENIOR BUSINESS BANKING OFFICER 40.00 X 170144 0 9031 CLIFFORD JOSEPH SENIOR AUTOMATION SPECIALIST 40.00 X 163346 0 6717 HERBERT SIEGERS DIRECTOR OF ADMINISTRATIVE SERVICES 40.00 X 140109 0 19663 RETHA CAMERON COMPLIANCE OFFICER 40.00 X 140026 0 16119 VANESSA HUDSON SENIOR BUSINESS LENDING MANAGER 40.00 X 138220 0 46239 9143140 0 1219357 42 1 1 0 MCDERMOTT & BULL EXECUTIVE SEARCH 2 VENTURE SUITE 100 IRVINE CA 92618 EXECUTIVE SEARCH & RECRUITING SERVICES 356194 ALM FIRST FINANCIAL ADVISORS 3800 MAPLE AVE SUITE 600 DALLAS TX 75219 FINANCIAL ADVISORY SERVICES 351006 DELL MARKETING LP C/O DELL USA LP PASADENA CA 911100916 COMPUTER EQUIPMENT 222071 HUFFMAN & DOWNS MAINTENANCE PO BOX 10833 BAKERSFIELD CA 93389 JANITORIAL SERVICES 204295 4 INTEREST ON LOANS 522100 50693521 50693521 OTHER OPERATING INCOME 522100 15573916 15516363 57553 FEE INCOME 522100 10293208 9575619 717589 76560645 7802042 7802042 12628503 494780 31436 12133723 -31436 12102287 12102287 UNREALIZED GAIN DUE TO 522100 3292240 3292240 OTHER NON OPERATING IN 522100 3066 3066 3295306 99760280 98985138 775142 0 856994 9143140 20150100 1535826 3442969 2096442 272738 168000 6242165 1707902 7780321 4806269 3549972 314531 8779283 3331234 309771 LOAN SERVICING EXPENSE 2377940 PROVISION FOR LOAN AND 2250902 OPERATING FEES 567911 MISC OPERATING EXPENSES 526374 80210784 37291207 53105411 113436958 259796848 19342520 2312520 99936347 51555236 45669943 48381111 371578561 397484615 1207018209 1380857559 22265875 44624528 1797260753 2205905112 21032331 40454794 1592688479 1957286911 1613720810 1997741705 X 0 0 0 0 183539943 208163407 183539943 208163407 1797260753 2205905112 X 19549496 4959221 114747 X X 0 1 X 1 0 10000 10000 10000 1 NATIONAL ASSOCIATION OF FEDERALLY-INSURED CREDIT UNIONS 3138 10TH STREET NORTH ARLINGTON VA 222012149 952642719 10000 7788305 7788305 40883538 10984319 29899219 7021731 2444697 4577034 44242773 38126220 6116553 48381111 PAID-IN CAPITAL AT CORP 1357365 C ALL OTHER INVESTMENTS 8990400 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 17910105 C NET LOANS AND LEASES 1352599689 F 1380857559 TOTAL SHARE AND DEPOSITS 1952193819 OTHER NOTES, PROMISSORY NOTES AND INTEREST PAYABLE 5000000 ACCRUED DIVIDENDS & INTEREST PAYABLE ON SHARES & DEPOSITS 93092 1957286911 X 99791718 0 99791718 -31438 -31438 99760280 80242222 0 80242222 -31438 -31438 80210784 PART X, LINE 2: ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019, MANAGEMENT HAS DETERMINED THAT THE CREDIT UNION HAS NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. STATE TAXES, IF APPLICABLE, ARE PAID ON INCOME EARNED BY THE CREDIT UNION IN CALIFORNIA. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF FIXED ASSETS -31,436. ROUNDING -2. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF FIXED ASSETS -31,436. ROUNDING -2. 1 ALZHEIMERS DISEASE ASSOCIATION OF KERN COUNTY INC PO BOX 22108 BAKERSFIELD CA 93390 770017561 501(C)(3) 5000 FMV PROVIDE FINANCIAL SUPPORT TO MAINTAIN AND ENHANCE THE QUALITY OF LIFE FOR THOSE IMPACTED BY ALZHEIMERS AMERICAN CANCER SOCIETY 5420 CALIFORNIA AVE BAKERSFIELD CA 93309 131788491 501(C)(3) 10000 FMV TO SUPPORT THE FIGHT FOR A WORLD WITHOUT CANCER AND TO DONATE IN MEMORY OF LATE DANA FABBRI. AMERICAN HEART ASSOCIATION INC PO BOX 4002030 DES MOINES IA 503402030 135613797 501(C)(3) 14500 FMV TO SUPPORT THE RESEARCH, PUBLIC HEALTH POLICIES AND CRITICAL TOOLS TO SAVE AND IMPROVE LIVES; AND TO FIGHT AGAINST THE VAPING EPIDEMIC. BAKERSFIELD CITY SCHOOL DISTRICT 1300 BAKER ST BAKERSFIELD CA 93305 956000671 6425 FMV TO SUPPORT LOCAL COMMUNITIES AND SCHOOLS. BAKERSFIELD CONDORS PO BOX 1806 BAKERSFIELD CA 933031806 464459706 8000 FMV TO SUPPORT LOCAL COMMUNITIES AND SPORTS BAKERSFIELD MEMORIAL HOSPITAL FOUNDATION PO BOX 2401 BAKERSFIELD CA 93303 953555043 501(C)(3) 10000 FMV TO SUPPORT THE QUALITY OF LIFE FOR PEOPLE IN THE COMMUNITY BAKERSFIELD MUSIC THEATRE 1931 CHESTER AVE BAKERSFIELD CA 93301 237351668 501(C)(3) 91667 FMV TO PROVIDE A SPACE FOR ARTISTS IN THE PERFORMING ARTS TO LEARN AND SHOWCASE THEIR TALENTS, AND TO PROVIDE THE KERN COUNTY COMMUNITY A CULTURAL RESOURCE AND ENTERTAINMENT DESTINATION BAKERSFIELD WOMEN'S BUSINESS CONFERENCE PO BOX 11049 BAKERSFIELD CA 93313 274473875 501(C)(3) 6100 FMV TO RAISE FUNDS FOR THE BENEFIT OF EFFORTS TO PROVIDE INFORMATION, SKILLS DEVELOPMENT, AND ENCOURAGEMENT FOR WOMEN AT A CROSSROADS; SEEKING HIGHER EDUCATION; FIRST TIME EMPLOYMENT; MAKING A CAREER CHANGE OR LOOKING TO ADVANCE THEIR CAREERS. BASKETBALL UNIVERSE ACADEMY 5113 PHISTO PLACE BAKERSFIELD CA 93313 272449172 501(C)(3) 71154 FMV TO TEACH AND EDUCATE YOUTH BASKETBALL SKILL AND SPORTSMANSHIP CHILD GUIDANCE GUILD OF BAKERSFIELD INC 1905 18TH ST BAKERSFIELD CA 93301 770006491 501(C)(3) 5000 FMV TO PROVIDE RESOURCES TO HELP CHILDREN AND FAMILIES WITH EMOTIONAL AND BEHAVIORAL PROBLEMS CHILDREN'S MIRACLE NETWORK HOSPITALS 18400 VON KARMEN AVE STE 900 IRVINE CA 92612 870387205 501(C)(3) 39900 FMV TO RAISE FUNDS AND AWARENESS FOR LOCAL CHILDREN'S HOSPITALS. COUNTY SCHOOLS SERVICE FUND DBA KERN COUNTY SUPERINTENDENT OF SCHOOLS 1300 17TH ST BAKERSFIELD CA 93301 956000941 10775 FMV TO PROVIDE STUDENTS, SCHOOL DISTRICTS AND THE COMMUNITY WITH EQUITY-FOCUSED LEADERSHIP, EDUCATION AND SUPPORT THROUGH PROGRAMS, SERVICES AND FISCAL ACCOUNTABILITY. CSUB FOUNDATION 9003 STOCKDALE HWY 8 GYM BAKERSFIELD CA 93311 952643086 501(C)(3) 201500 FMV TO SUPPORT CALIFORNIA STATE UNIVERSITY, BAKERSFIELD BY: ADVOCATING FOR THE UNIVERSITY TO THE GOVERNMENT AND TO THE COMMUNITY AND FUNDRAISING FOR UNIVERSITY PROGRAMS AND ACTIVITIES. GAMEDAY SPORTS ACADEMY 3101 GILMORE AVE STE 100 BAKERSFIELD CA 93308 834479668 50000 FMV TO SUPPORT ACTIVITIES AND EVENTS THAT BENEFIT THE HEALTH AND WELL-BEING OF YOUNG ATHLETES IN OUR COMMUNITY. GLOBAL FAMILY CARE NETWORK INC PO BOX 13160 BAKERSFIELD CA 93389 208346599 501(C)(3) 7500 FMV TO PRESERVE THE FAMILY AND PROTECT AT RISK CHILDREN WITH THE ASSISTANCE OF LOCAL COMMUNITY ORGANIZATIONS, VOLUNTEER CAREGIVERS, AND DONORS. GREATER BAKERSFIELD CHAMBER OF COMMERCE PO BOX 1947 BAKERSFIELD CA 93303 950521125 501(C)(6) 6845 FMV PROVIDE SUPPORT, NETWORKING, AND EDUCATION TO THE BUSINESS COMMUNITY OF BAKERSFIELD AND KERN COUNTY. KERN COMMUNITY COLLEGE DISTRICT 2100 CHESTER AVE BAKERSFIELD CA 93301 956006644 5350 FMV TO PROVIDE OUTSTANDING EDUCATIONAL PROGRAMS AND SERVICES THAT ARE RESPONSIVE TO OUR DIVERSE STUDENTS AND COMMUNITIES. KERN COMMUNITY FOUNDATION 3300 TRUXTUN AVE STE 220 BAKERSFIELD CA 93301 770555874 501(C)(3) 151500 FMV TO INCREASE CHARITABLE GIVING BY EDUCATING AND CONNECTING DONORS TO COMMUNITY NEEDS THEY CARE ABOUT, WITH A VIEW TOWARD FINDING SOLUTIONS TO HELP MAKE KERN COUNTY A BETTER PLACE TO LIVE, TO WORK AND TO VISIT. KERN COUNTY SUPERINTENDENT OF SCHOOLS EDUCATIONAL SERVICES FOUNDATION 1300 17TH ST CITY CENTRE 5TH FLOOR BAKERSFIELD CA 93301 770383293 501(C)(3) 25500 FMV TO PROVIDE RESOURCES FOR THE EDUCATION COMMUNITY THROUGH THE KERN COUNTY SUPERINTENDENT OF SCHOOLS KERN HIGH SCHOOL DISTRICT 5801 SUNDALE AVE BAKERSFIELD CA 93309 956001764 99778 FMV TO PROVIDE PROGRAMS AND SERVICES TO ALLOW ALL STUDENTS TO GRADUATE FROM HIGH SCHOOL PREPARED TO SUCCEED IN THE WORKPLACE AND AT THE POST-SECONDARY LEVEL. KERN LITERACY COUNCIL 331 18TH ST BAKERSFIELD CA 93301 237312722 501(C)(3) 5000 FMV EMPOWERING INDIVIDUALS TO IMPROVE THE QUALITY OF THEIR LIVES THROUGH LITERACY EDUCATION. TRU FOUNDATION 11509 TAGUS DR BAKERSFIELD CA 93301 822970434 501(C)(3) 5000 FMV TO PROVIDE A PLACE THAT WILL ALLOW FOR INDIVIDUALS TO GROW MENTALLY, PHYSICALLY, AND SPIRITUALLY. TULARE CHAMBER OF COMMERCE PO BOX 1435 TULARE CA 932751435 940936293 501(C)(6) 8000 FMV TO PROVIDE ECONOMIC DEVELOPMENT OPPORTUNITIES TO RECRUIT AND RETAIN BUSINESS ENTERPRISES THAT WILL PROVIDE JOB GROWTH IN THE TULARE COMMUNITY. 15 8 X 1 1 X X X X 1 1 0 STEPHEN P RENOCK IV PRESIDENT/CEO 1311487 0 350160 0 275946 0 503877 0 43735 0 2485205 0 0 0 NICHOLAS AMBROSINI EVP/CFO 513261 0 270180 0 18000 0 6400 0 43289 0 851130 0 0 0 STEVEN MATEJKA EVP/COO 497921 0 510220 0 18000 0 32452 0 24285 0 1082878 0 0 0 MICHAEL GEORGE FORMER SVP/CHIEF MARKETING INNOVATION & ADV 391343 0 75000 0 415000 0 34595 0 24002 0 939940 0 0 0 RUDY TAFOYA FORMER SVP CHIEF LENDING OFFICER 0 0 0 0 400000 0 26772 0 0 0 426772 0 0 0 MARK MANNS SVP/CHIEF HUMAN RESOURCES OFFICER 259415 0 120220 0 18000 0 7537 0 1350 0 406522 0 0 0 STEPHEN ROACH SVP/CHIEF INFORMATION OFFICER 295455 0 75390 0 18000 0 8400 0 44600 0 441845 0 0 0 CHARLES SMITH SVP/CHIEF LENDING OFFICER 283536 0 34050 0 13500 0 8730 0 13563 0 353379 0 0 0 SHONNA SHEARSON SVP OF OPERATIONS 235450 0 11477 0 10500 0 7937 0 1910 0 267274 0 0 0 JAMES HUSSEY DIRECTOR OF WEALTH MANAGEMENT 302665 0 13829 0 0 0 10852 0 41177 0 368523 0 0 0 DEANNA BLAISE VP OF MEMBER BUSINESS SERVICES 248115 0 35060 0 12000 0 7261 0 43595 0 346031 0 0 0 CHEI WHITMORE VP OF BRANCHES 200424 0 11941 0 12000 0 8802 0 38216 0 271383 0 0 0 TIMOTHY SPENCER VP OF LENDING 206902 0 11215 0 0 0 8322 0 7370 0 233809 0 0 0 CHRISTOPHER HANSON VP OF APPLICATIONS AND DEVELOPMENT 189352 0 10100 0 0 0 7574 0 378 0 207404 0 0 0 LINDSAY REYES VP OF ACCOUNTING 178415 0 9503 0 0 0 7500 0 28136 0 223554 0 0 0 LEE JACOBS VP OF INFORMATION TECHNOLOGY 171265 0 9408 0 0 0 5246 0 14304 0 200223 0 0 0 AMIE HALE DIRECTOR OF E-SERVICES 170003 0 7414 0 0 0 6866 0 3225 0 187508 0 0 0 KEVIN MCCLOSKEY DIRECTOR OF IT DEVELOPMENT 161589 0 7884 0 0 0 6944 0 42386 0 218803 0 0 0 MARIA TRANCOSO SENIOR BUSINESS BANKING OFFICER 154069 0 15700 0 375 0 6254 0 2777 0 179175 0 0 0 CLIFFORD JOSEPH SENIOR AUTOMATION SPECIALIST 159986 0 3360 0 0 0 6379 0 338 0 170063 0 0 0 HERBERT SIEGERS DIRECTOR OF ADMINISTRATIVE SERVICES 134230 0 5879 0 0 0 5452 0 14211 0 159772 0 0 0 RETHA CAMERON COMPLIANCE OFFICER 134124 0 5902 0 0 0 5476 0 10643 0 156145 0 0 0 VANESSA HUDSON SENIOR BUSINESS LENDING MANAGER 127520 0 10700 0 0 0 5491 0 40748 0 184459 0 0 0 PART I, LINES 4A-B THE CREDIT UNION PROVIDES CERTAIN INDIVIDUALS WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS HAVE BEEN ENTERED INTO WITH THE PARTICIPANTS OF THE EXECUTIVES COVERED UNDER THE PLAN. AS PART OF THE SPLIT DOLLAR LOAN AGREEMENTS, THE EXECUTIVES HAVE ASSIGNED THE POLICIES TO THE CREDIT UNION AS COLLATERAL. THIS ASSIGNMENT SECURES REPAYMENT OF ANY ADVANCES AND ACCRUED INTEREST FOR THE POLICY PREMIUMS AND ANY OTHER ADVANCES UNDER ANY AGREEMENT. THE LOANS HAVE A FIXED INTEREST RATE, WITH INTEREST ACCRUED MONTHLY AND CAPITALIZED AS PART OF THE TOTAL LOAN BALANCE ANNUALLY. TOTAL SPLIT DOLLAR LOANS AND ACCRUED INTEREST APPROXIMATED $32,130,000 AND $12,132,000 AS OF DECEMBER 31, 2020 AND 2019,RESPECTIVELY. THE CREDIT UNION MAINTAINS NON-QUALIFIED PENSION PLANS FOR A SELECT GROUP OF MANAGEMENT. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. UNDER THIS PLAN, PARTICIPANTS DEFER A PORTION OF THEIR COMPENSATION. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE PLAN APPROXIMATED $33,824,000 AND $30,195,000 AS OF DECEMBER 31, 2020 AND 2019, RESPECTIVELY. DURING 2020 THE FOLLOWING RECEIVED PAYOUTS FROM NON-QUALIFIED PENSION PLAN: STEPHEN P RENOCK IV - $275,000 MICHAEL GEORGE - $400,000 RUDY TAFOYA - $400,000 NICHOLAS AMBROSINI OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 9900000 9930273 0 1 1 NICHOLAS AMBROSINI OFFICER AUTO X 12407 9555 0 1 1 STEPHEN ROACH OFFICER AUTO X 36243 2405 0 1 1 STEVEN MATEJKA OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 9150000 9177980 0 1 1 AMIE HALE KEY EMPLOYEE PERSONAL LOAN X 3500 2527 0 1 1 CHRISTOPHER HANSON KEY EMPLOYEE AUTO X 32832 7402 0 1 1 JAMES HUSSEY KEY EMPLOYEE AUTO X 77530 59504 0 1 1 LEE JACOBS KEY EMPLOYEE AUTO X 36732 3655 0 1 1 CARL LANGE III DIRECTOR AUTO X 62000 59774 0 1 1 CARL LANGE III DIRECTOR AUTO X 25929 21953 0 1 1 DENNIS SCOTT DIRECTOR AUTO X 54381 31613 0 1 1 JAMES FILLBRANDT DIRECTOR PERSONAL LOAN X 4861 3242 0 1 1 JAMES FILLBRANDT DIRECTOR PERSONAL LOAN X 25000 17856 0 1 1 TROY FRINGER DIRECTOR AUTO X 26895 2374 0 1 1 TROY FRINGER DIRECTOR AUTO X 25030 12407 0 1 1 19342520 FORM 990, PART VI, SECTION A, LINE 6 VALLEY STRONG CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. VALLEY STRONG CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF VALLEY STRONG CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY ITS BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PRESENTED TO THE BOARD DURING ONE OF ITS BOARD MEETINGS. THE APPROVAL FOR FILING IS THEN DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES, BOARD AND VOLUNTEERS ARE REQUIRED TO REPORT KNOWN CONFLICTS OF INTEREST. EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY AT THE TIME OF HIRE AND ANNUALLY EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONDUCTS AN EXECUTIVE COMMITTEE SESSION TO DETERMINE SALARY OF THE PRESIDENT/CEO. VALLEY STRONG CREDIT UNION ALSO HAS A COMPENSATION SYSTEM THAT COMPARES SALARIES BASED ON OTHER CREDIT UNIONS, THEIR ASSET SIZE AND GEOGRAPHIC LOCATION. VALLEY STRONG CREDIT UNION USES RANGES FOR ALL OF THEIR POSITIONS. EACH POSITION IS THEN CAREFULLY REVIEWED. FORM 990 PART VI SECTION B LINE 15B: THE CEO AND ESC EVALUATES EACH SENIOR EXECUTIVE POSITION IN ACCORDANCE WITH VALLEY STRONG CREDIT UNION'S COMPENSATION GUIDELINES, THE COMPENSATION SYSTEM AND BASED ON THEIR OVERALL PERFORMANCE AS ASSESSED DURING THE FORMAL EVALUATION PROCESS WHICH IS CONDUCTED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 VALLEY STRONG CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME 114,747. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990 VALLEY STRONG CREDIT UNION WAS ORIGINALLY SET UP AS A FEDERALLY-CHARTERED CREDIT UNION IN 1940. AS OF JANUARY 30, 2020, THE CREDIT UNION CHANGED ITS CHARTER TO STATE-CHARTER. VALLEY STRONG SERVICES LLC 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 061675166 INSURANCE CA 423579 14658620 VALLEY STRONG CREDIT UNION