2021-11-15T17:26:38-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-01-01 941231186 SAN MATEO CREDIT UNION SANM 6503631716 350 CONVENTION WAY REDWOOD CITY CA 94063 DAVID DIAMOND VP, CFO 6503631716 2021-11-15 1 DAVID DIAMOND 999009999 MARY C GREEN P00447183 6022662248 2021-11-15 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z WADE PAINTER 350 CONVENTION WAY REDWOOD CITY CA 94063 238078815 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 7 252 12 135444 26247 0 0 57043140 57318010 3073167 4678611 2148425 2273892 62264732 64270513 80000 144439 4779860 5790418 20509559 22014753 0 0 0 21127095 22183803 46496514 50133413 15768218 14137100 1161663520 1435484397 1026456259 1286140036 135207261 149344361 X WHILE MAINTAINING A SOUND FINANCIAL POSITION, SAN MATEO CREDIT UNION, A FINANCIAL COOPERATIVE, WILL PROVIDE A WIDE RANGE OF VALUED FINANCIAL PRODUCTS AND SERVICES AND GIVE MEMBER-OWNERS A FEELING OF PERSONAL IDENTITY AND BELONGING AS AN OWNER. WE HELP IMPROVE THE FINANCIAL LIVES OF OUR MEMBERS. 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 2020, WE HAD APPROXIMATELY 97,500 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 MEMBERS RESIDENTIAL REAL ESTATE PURCHASE AND REFINANCE LENDING. SMCU OFFERS AN ARRAY OF CONSUMER LOANS INCLUDING AUTOMOBILE, SECURED AND UNSECURED LOANS AND CREDIT CARDS. MEMBERS CAN OPEN AN ARRAY OF DEPOSIT ACCOUNTS INCLUDING SAVINGS, CHECKING, MONEY MARKET AND CERTIFICATE OF DEPOSIT ACCOUNTS. SMCU OFFERS FINANCIAL ASSISTANCE TO THOSE NEEDING HELP WITH MEMBERSHIP ELIGIBILITY AND CERTAIN MICRO-CREDIT PRODUCTS. 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 0 0 0 1 13310 0 252 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 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 X 689834 0 48416 VALERIE ALSIP EVP/COO 40.00 X 348670 0 39149 DAVID DIAMOND VP, CFO 40.00 X 302090 0 21125 JENNIFER WILKINSON SVP/CLO 40.00 X 253735 0 27600 PATRICIA ELLINGSON VP REAL ESTATE LENDING 40.00 X 253689 0 13461 EMILIO JOHANSEN WEALTH ADVISOR 40.00 X 229239 0 25837 REBECCA NIXON VP HR 40.00 X 181715 0 43162 ROBERT CARTER VP ADMINISTRATIVE SERVICES 40.00 X 195714 0 28844 RICHARD KINZIE VP RISK 40.00 X 204495 0 15813 IGNASIO MEDRANO VP DIGITAL SERVICES 40.00 X 177990 0 31051 WILLIAM ANDREWS VP INFORMATION SERVICES 40.00 X 180167 0 28072 SUZANNE KNOWLTON VP MARKETING 40.00 X 179243 0 22261 DOREEN SZYMANKSKI VP MEMBER EXPERIENCE 40.00 X 158639 0 33027 DANI ROBINSON VP CREDIT RISK 40.00 X 157347 0 29875 CHERYL RAYO AVP REAL ESTATE 40.00 X 170720 0 7619 ANATOLY VILDERMAN WEALTH ADVISOR 40.00 X 165518 0 9145 JOHNNY ESCALANTE IS MANAGER 40.00 X 132588 0 15625 SILVIO GOMEZ REAL ESTATE SALES MANAGER 40.00 X 125229 0 19003 JON GALLE ENTERPRISE APP. MANAGER 40.00 X 116009 0 23290 DONNA VAILLANCOURT CHAIR 1.00 X X 0 0 0 BRIAN PONTY VICE CHAIR 1.00 X X 0 0 0 MICHAEL CLAIRE SECRETARY 1.00 X X 0 0 0 STEVE DIVNEY TREASURER 1.00 X X 0 0 0 JOHN BEIERS DIRECTOR 1.00 X 0 0 0 MAGDA GONZALEZ DIRECTOR 1.00 X 0 0 0 KATE HARR DIRECTOR 1.00 X 0 0 0 4222631 0 482375 33 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 1181902 COOP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM & DEBIT CARD PROCESSOR 945067 FINANCIAL TECHNOLOGY SOLUTIONS INC PO BOX 919 MONROVIA CA 91017 ATM SERVICING 600056 JACK ENTRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE SYSTEM 586902 FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 ACCOUNTING MANAGEMENT SOFTWARE 516577 35 INTEREST ON LOANS 522100 41440571 41440571 INTERCHANGE INCOME 522100 6469582 6469582 FEE INCOME 522100 5478397 5449057 29340 OTHER NON-INTEREST INC 522100 3929460 3823356 106104 57318010 1470345 1470345 2704491 430599 2273892 2273892 2273892 176585969 173377703 3208266 3208266 3208266 64270513 57182566 135444 6952503 134439 10000 5790418 3843522 14109312 631986 2171051 1258882 92237 287744 9830 2829422 923064 1646547 2883108 29000 65103 1763269 173893 PROVISION FOR LOAN LOSS 3025724 LOAN SERVICING 2123710 ATM & CARD LOSSES 2073372 REPAIRS AND MAINTENANCE 2007999 2249781 50133413 19438299 65129313 207324248 0 2992626 10517470 10820378 1009562518 1001200215 1585281 349041 40679120 21210319 20837123 19468801 140000000 39187236 8008869 14844579 25881920 1161663520 1435484397 5273788 7304730 1021182471 1278835306 1026456259 1286140036 X 0 0 0 0 135207261 149344361 135207261 149344361 1161663520 1435484397 14137100 0 X X 0 1 X 1 0 9830 9830 9830 1 CALIFORNIA CREDIT UNION LEAGUE PAC 2855 E GUASTI ROAD SUITE 600 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 14768575 5239251 9529324 4151698 4151698 0 16758847 11819370 4939477 19468801 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1278835306 1278835306 X 64701112 0 64701112 -430599 -430599 64270513 50564012 430599 430599 50133413 0 50133413 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES, EXCEPT FOR UNRELATED BUSINESS INCOME, AS DEFINED IN IRC SECTION 512 AND IN TECHNICAL ADVICE MEMORANDUMS (TAM) RELEASED IN 2007 TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE INTERNAL REVENUE SERVICE RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED TO REVENUE -430,599. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED TO REVENUE 430,599. 1 SMCU COMMUNITY FUND 350 CONVENTION WAY REDWOOD CITY CA 94063 850663372 501(C)(3) 20000 FIRE RELIEF IN SUPPORT OF PUENTE, SECOND HARVEST OF SILICON VALLEY SAN MATEO COUNTY HISTORICAL ASSOCIATION 2200 BROADWAY REDWOOD CITY CA 94063 237186194 501(C)(3) 20000 ANNUAL CAMPAIGN SPONSORSHIP AND CARRIAGE HOUSE SPONSORSHIP REDWOOD CITY POLICE ACTIVITIES LEAGUE 3399 BAY ROAD REDWOOD CITY CA 94063 943229506 501(C)(3) 10000 TOGETHER AS ONE PROGRAM SPONSORSHIP CU FOR KIDS (CHILDRENS MIRACLE NETWORK) 2855 E GUASTI ROAD SUITE 600 ONTARIO CA 917611250 870387205 501(C)(3) 8250 CU FOR KIDS WINE AUCTION THE SEQUOIA AWARDS PO BOX 2355 REDWOOD CITY CA 94064 943148844 501(C)(3) 6750 ANNUAL AWARDS & SCHOLARSHIP SPONSORSHIP 5 0 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 0 0 WADE PAINTER PRESIDENT/CEO 571287 0 107331 0 11216 0 45500 0 2916 0 738250 0 0 0 VALERIE ALSIP EVP/COO 316360 0 32310 0 0 0 37166 0 1983 0 387819 0 0 0 DAVID DIAMOND VP, CFO 280766 0 21324 0 0 0 15128 0 5997 0 323215 0 0 0 JENNIFER WILKINSON SVP/CLO 231610 0 20814 0 1311 0 20292 0 7308 0 281335 0 0 0 PATRICIA ELLINGSON VP REAL ESTATE LENDING 231435 0 22254 0 0 0 6864 0 6597 0 267150 0 0 0 EMILIO JOHANSEN WEALTH ADVISOR 228109 0 0 0 1130 0 19500 0 6337 0 255076 0 0 0 REBECCA NIXON VP HR 163274 0 18441 0 0 0 39000 0 4162 0 224877 0 0 0 ROBERT CARTER VP ADMINISTRATIVE SERVICES 178308 0 17406 0 0 0 26844 0 2000 0 224558 0 0 0 RICHARD KINZIE VP RISK 188678 0 15817 0 0 0 11364 0 4449 0 220308 0 0 0 IGNASIO MEDRANO VP DIGITAL SERVICES 160963 0 17027 0 0 0 30939 0 112 0 209041 0 0 0 WILLIAM ANDREWS VP INFORMATION SERVICES 162458 0 16650 0 1059 0 26000 0 2072 0 208239 0 0 0 SUZANNE KNOWLTON VP MARKETING 172224 0 6339 0 680 0 15947 0 6314 0 201504 0 0 0 DOREEN SZYMANKSKI VP MEMBER EXPERIENCE 142882 0 13057 0 2700 0 22991 0 10036 0 191666 0 0 0 DANI ROBINSON VP CREDIT RISK 144552 0 12795 0 0 0 26000 0 3875 0 187222 0 0 0 CHERYL RAYO AVP REAL ESTATE 155029 0 14632 0 1059 0 6147 0 1472 0 178339 0 0 0 ANATOLY VILDERMAN WEALTH ADVISOR 165468 0 0 0 50 0 8733 0 412 0 174663 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. WADE PAINTER PRESIDENT/CEO FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 9659000 10820378 0 1 1 10820378 FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF DIRECTORS MAY APPOINT AN EXECUTIVE COMMITTEE OF NO FEWER THAN THREE DIRECTORS AND DELEGATE TO SUCH COMMITTEE THE POWER TO APPROVE MEMBERSHIP APPLICATIONS. WITH THE WRITTEN APPROVAL OF THE COMMISSIONER, THE EXECUTIVE COMMITTEE MAY ACT FOR THE BOARD OF DIRECTORS IN THE PURCHASE AND SALE OF SECURITIES, INVESTMENT AND WITHDRAWAL OF FUNDS, IN BORROWING FUNDS, AND TO MAKE LOANS TO OTHER CREDIT UNIONS IN ACCORDANCE WITH THE LAW AND REGULATIONS. 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 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, OFFICERS, AND KEY EMPLOYEES 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 2020. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.