2021-11-15T16:39:48-06:00 2020-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1200 MINNEAPOLIS MN 554022526 990 2020-01-01 953442691 PREMIER AMERICA CREDIT UNION PREM 8187724011 19867 PRAIRIE STREET CHATSWORTH CA 91311 BRAD CUNNINGHAM SVP/CFO 8187724011 2021-11-15 1 BRAD CUNNINGHAM XXX-XX-XXXX KACIE MCEWEN P01599614 6123324300 2021-11-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z RODOLFO J PEREIRA 19867 PRAIRIE STREET CHATSWORTH CA 91311 111157240 0 1526 X WWW.PREMIERAMERICA.COM X 1957 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST ITS MEMBERS. 9 9 429 12 1202135 0 0 0 104892424 105352667 11671622 5649383 111410 56032 116675456 111058082 40730 139758 36148287 30847587 31849063 34109025 0 0 0 29190926 39519240 97229006 104615610 19446450 6442472 2832715240 3211246372 2535421144 2905570033 297294096 305676339 X A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST 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, PREMIER AMERICA 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 THE CREDIT UNION ENCOURAGED AND PROMOTED SAVINGS AND ACQUIRED 8,477 NEW MEMBERS IN 2020. TOTAL MEMBERSHIP STOOD AT 113,955 AS OF DECEMBER 31, 2020 WHILE DEPOSIT BALANCES GREW BY $366 MILLION COMPARED TO THE PREVIOUS YEAR, AND THE ORGANIZATION CONTINUED TO PAY MEMBERS FAVORABLE DIVIDEND RATES ON THEIR SAVINGS. THE CREDIT UNION MET MORTGAGE NEEDS OF FIRST TIME HOME BUYERS AND REFINANCING NEEDS OF EXISTING HOMEOWNERS, ALLOWING THEM TO TAKE ADVANTAGE OF LOWER INTEREST RATES. LOWER INTEREST RATES WERE MADE POSSIBLE BY BEING A FNMA MORTGAGE LOAN SELLER AND SERVICER. DURING THE YEAR, THE ORGANIZATION GRANTED 679 REAL ESTATE LOANS AND HOME EQUITY LINES OF CREDIT TOTALING OVER $655 MILLION TO ITS MEMBERS. THE CREDIT UNION'S CORE VALUES AND PURPOSE DRIVE OUR COMMITMENT TO SERVING MEMBERS AND LOCAL COMMUNITIES. IN 2020, OUR DEDICATION TO GIVING BACK WAS OF PARAMOUNT IMPORTANCE AS PREMIER AMERICA DONATED $139,758 TO LOCAL CHARITIES AND COMMUNITY ORGANIZATIONS AND TEAM MEMBERS INVESTED OVER 600 HOURS OF SERVICE TO NON-PROFIT ORGANIZATIONS. PREMIER AMERICA IS FOCUSED ON PROVIDING SAFE, RESPONSIBLE AND AFFORDABLE FINANCIAL SERVICES TO HELP MEMBERS REACH THEIR DREAMS. 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 34804 0 1 429 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CA X SUSAN LINARD 8187724176 19867 PRAIRIE STREET CHATSWORTH CA 91311 WILLIAM COLE CHAIR 1.00 X X 0 0 0 GARY HOLMEN VICE CHAIR 1.00 X X 0 0 0 KURT FORD SECRETARY/TREASURER 1.00 X X 0 0 0 LARRY COLSON DIRECTOR 1.00 X 0 0 0 JOHN DE VERE JR DIRECTOR 1.00 X 0 0 0 ERIC GOLDNER DIRECTOR 1.00 X 0 0 0 JOANN KLONOWSKI DIRECTOR 1.00 X 0 0 0 LARRY MARTIN DIRECTOR 1.00 X 0 0 0 EVA GOMEZ DIRECTOR 1.00 X 0 0 0 RODOLFO PEREIRA PRESIDENT & CEO 40.00 X 879730 0 80730 W BRAD CUNNINGHAM CFO 40.00 X 368246 0 50525 TONI DANIELS CHIEF ADMINISTRATIVE OFFICER 40.00 X 332238 0 78710 ERNESTO NORONA CHIEF LOAN OFFICER 40.00 X 324165 0 68603 JANAKIRAMANA YANDAPALLI SENIOR VP, CHIEF TECHNOLOGY OFFICER 40.00 X 332015 0 65908 MARCI GIRARDI SENIOR VP, CHIEF EXPERIENCE 40.00 X 310796 0 76828 KELLY KARREN FINANCIAL ADVISOR 40.00 X 265244 0 44029 ORLANDO DUQUE MORTGAGE LOAN OFFICER 40.00 X 265189 0 39982 ERNIE CELAYA MORTGAGE LOAN OFFICER 40.00 X 213673 0 48164 CAROLINE ST PETER ASST. MANAGER, COLLECTIONS 40.00 X 178762 0 30166 RENEE JOHNS VP, RETAIL DELIVERY 40.00 X 180932 0 36856 3650990 0 620501 59 0 1 0 NTR CONSTRUCTION 7500 TOPANGA CYN BLVD 2ND FLOOR CANOGA PARK CA 91303 CONSTRUCTION 1751794 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING 1262877 AXELLIANT LLC 21250 HAWTHORNE BLVD STE 500 TORRANCE CA 90503 DATA PROCESSING/CONSULTING 1208683 JACK HENRY AND ASSOCIATES PO BOX 609 MONETT MO 65708 DATA PROCESSING 861674 ROBERT HALF INTERNATIONAL INC 2613 CAMINO RAMON SAN RAMON CA 94583 CONSULTING/TEMP SERVICES 588617 57 INCOME FROM MEMBER LOANS 522100 86737412 86737412 OTHER MISC INCOME 522100 6749603 5800525 949078 SERVICE CHARGES & OTHER FEES 522100 5183822 4930765 253057 INTERCHANGE INCOME 522100 4633607 4633607 INVESTMENT BROKERAGE COMMISSIONS 523000 2048223 2048223 105352667 5748541 5748541 56032 0 56032 56032 56032 99158 -99158 -99158 -99158 111058082 104150532 1202135 5705415 139758 30847587 2984664 24529926 3043348 1906648 1644439 213453 496159 2229261 1385871 5626762 3830827 220542 3433276 151171 161246 1722668 188736 PROVISION FOR LOAN LOSS 15513818 LOAN PROCESSING EXPENSE 2717372 CORE DEPOSIT PREMIUM AM 863807 GOODWILL AMORTIZATION 122960 641311 104615610 356971963 505888920 6650538 9169798 2209327455 2185664161 2916462 3655284 35026505 20018427 15519105 15008078 191218963 434899635 14809218 15036165 4448893 3462127 30852643 38462204 2832715240 3211246372 19770985 22908655 609524 2515650159 2882051854 2535421144 2905570033 X 0 0 0 0 297294096 305676339 297294096 305676339 2832715240 3211246372 6442472 1939771 0 X 0 1 X 1 0 14100 14100 14100 1 CALIFORNIA NEVADA CREDIT UNION PAC 1201 K ST SUITE 105C SACRAMENTO CA 95814 942329967 11600 0 JACQUI IRWIN FOR STATE ASSEMBLY 2020 BOX 378 CAMARILLO CA 93010 000000000 2500 0 PART I-A, LINE 1: THE CREDIT UNION MAKES CONTRIBUTIONS TO SUPPORT CANDIDATES OR POLITICAL ACTION COMMITTEES PROMOTING CREDIT UNION CAUSES. 3731593 3731593 15365948 8771581 6594367 6630586 4516241 2114345 9298378 6730605 2567773 15008078 MEMBERS' SHARES 2882051854 2882051854 X 111058082 0 111058082 0 111058082 104615609 0 104615609 0 104615609 PART X, LINE 2: AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. 1 PREMIER AMERICA FOUNDATION 19867 PRAIRIE STREET CHATSWORTH CA 91311 820914788 501(C)(3) 40000 PROGRAM SUPPORT CHILDREN'S MIRACLE NETWORK CU FOR KIDS WINE AUCTION 18400 VON KARMAN AVE STE 900 IRVINE CA 92612 870387205 501(C)(3) 16500 PROGRAM SUPPORT WHAM - WESTERN HOUSTON ASSISTANCE MINISTRIES 10501 MEADOWGLEN LN HOUSTON TX 77042 760001309 501(C)(3) 6000 PROGRAM SUPPORT 3 0 PART I, LINE 2: GRANTS ARE GIVEN TO ORGANIZATIONS BASED ON CREDIT UNION INDUSTRY RELATIONSHIPS AND COMMUNITY RELEVANCE IN THE FORM OF CASH AND EVENT SPONSORSHIPS. GRANTS ARE GIVEN ONLY TO WELL-KNOWN ESTABLISHED CHARITABLE ORGANIZATIONS WHOSE ACTIVITIES ARE COMMON KNOWLEDGE AND RECOGNIZED IN THE COMMUNITY SUCH AS THE CHILDREN'S MIRACLE NETWORK HOSPITALS, HABITAT FOR HUMANITY, GIRLS AND BOYS SCOUTS OF AMERICA LOCAL TROOPS, AND OTHER SIMILAR ORGANIZATIONS. X X X 1 1 X X X 0 1 0 RODOLFO PEREIRA PRESIDENT & CEO 702686 0 177044 0 0 0 62600 0 27457 0 969787 0 0 0 W BRAD CUNNINGHAM CFO 307056 0 61190 0 0 0 43100 0 11755 0 423101 0 0 0 TONI DANIELS CHIEF ADMINISTRATIVE OFFICER 319038 0 13200 0 0 0 63237 0 15833 0 411308 0 0 0 JANAKIRAMANA YANDAPALLI SENIOR VP, CHIEF TECHNOLOGY OFFICER 283890 0 48125 0 0 0 43100 0 23685 0 398800 0 0 0 ERNESTO NORONA CHIEF LOAN OFFICER 278706 0 45459 0 0 0 40281 0 28719 0 393165 0 0 0 MARCI GIRARDI SENIOR VP, CHIEF EXPERIENCE 271995 0 38801 0 0 0 52520 0 25185 0 388501 0 0 0 KELLY KARREN FINANCIAL ADVISOR 265244 0 0 0 0 0 35707 0 8804 0 309755 0 0 0 ORLANDO DUQUE MORTGAGE LOAN OFFICER 265189 0 0 0 0 0 32206 0 7960 0 305355 0 0 0 ERNIE CELAYA MORTGAGE LOAN OFFICER 213673 0 0 0 0 0 30936 0 17474 0 262083 0 0 0 RENEE JOHNS VP, RETAIL DELIVERY 180932 0 0 0 0 0 36856 0 686 0 218474 0 0 0 CAROLINE ST PETER ASST. MANAGER, COLLECTIONS 178762 0 0 0 0 0 22741 0 8223 0 209726 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL - THE CREDIT UNION WILL PAY FOR FIRST CLASS TRAVEL ONLY WHEN FLYING TIME FOR A PARTICULAR FLIGHT IS FIVE HOURS OR MORE. TRAVEL FOR COMPANIONS - THE CREDIT UNION WILL PAY FOR THE SPOUSE OR ONE COMPANION'S PLANE FARE FOR OUT OF TOWN OFFICIAL TRAVELS (CONFERENCES), HOTEL ACCOMODATIONS (SHARED ROOM) AND MEALS. A 1099-MISC IS FILED WHEN THE TOTAL EXPENSES INCURRED FOR THE COMPANION REACHES THE REPORTABLE AMOUNT. TAX INDEMNIFICATION AND GROSS UP PAYMENTS - THE CREDIT UNION GROSSES UP FOR TAX ON CERTAIN NON-CASH BENEFITS REPORTED IN THE RECIPIENT'S W-2. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NONQUALIFIED RETIREMENT PLAN: TONI DANIELS RODOLFO PEREIRA THERE WERE NO DISTRIBUTIONS IN 2020. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. 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 THE DRAFT FORM 990 PREPARED BY THE TAX ACCOUNTANT IS REVIEWED BY SENIOR MANAGEMENT. CORRECTIONS ARE ADDRESSED AT EACH STAGE OF THE REVIEW BEFORE THE FINAL REPORT IS FILED BY THE TAX PREPARER FOR THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS CONTAINED IN THE CODE OF RESPONSIBILITY AND ETHICS THAT EACH EMPLOYEE IS REQUIRED, ANNUALLY, TO ACKNOWLEDGE. VIA WRITTEN POLICY, ALL EMPLOYEES AND OFFICIALS ARE MADE AWARE OF THE CREDIT UNION'S COMPLIANCE REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, THE CONFLICTS OF INTEREST POLICY. STANDARD CREDIT UNION PROCEDURES AND REQUIREMENTS ARE CONSISTENTLY APPLIED TO ANY BUSINESS TRANSACTION BY DIRECTORS, OFFICERS, AND EMPLOYEES. IF A DECISION IS REQUIRED REGARDING A BUSINESS TRANSACTION THAT COULD POTENTIALLY RISE TO A PERCEPTION OF A CONFLICT OF INTEREST, THE INVOLVED PARTY WILL RECUSE HIM OR HERSELF FROM DISCUSSION AND REVIEW OF THE TRANSACTION. TRANSACTIONS INVOLVING INDIVIDUAL ACCOUNTS ARE MONITORED BY THE INTERNAL AUDITOR ON A REGULAR BASIS. FORM 990, PART VI, SECTION B, LINE 15 EXTENSIVE ANNUAL SURVEYS ARE CONDUCTED FOR KEY POSITIONS IN THE CREDIT UNION INCLUDING, BUT NOT LIMITED TO, TOP MANAGEMENT AND KEY EMPLOYEES. THESE SURVEYS ARE PROVIDED BY PROFESSIONAL COMPENSATION ANALYSTS WHO WORK DIRECTLY WITH DATA WITHIN THE FINANCIAL INDUSTRY FIELD. THESE SURVEYS PROVIDE TOTAL COMPENSATION INFORMATION THAT RANGES FROM BROAD MACRO ISSUES TO SPECIFIC ELEMENTS OF TOTAL COMPENSATION STRUCTURES. FORM 990, PART VI, SECTION C, LINE 19 UNAUDITED FINANCIAL STATEMENTS ARE POSTED MONTHLY IN ALL BRANCHES. THE ANNUAL REPORT CONTAINING AUDITED FINANCIAL STATEMENTS IS AVAILABLE AT THE CREDIT UNION'S WEBSITE AND DISTRIBUTED TO ATTENDING MEMBERS DURING ANNUAL MEETINGS. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).