2020-11-02T19:22:49-06:00 2019-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2019-01-01 951682200 ARROWHEAD CENTRAL CREDIT UNION ARRO 9093796897 8686 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 TONY SAWAYA SVP/CFO 9093796897 2020-10-29 1 VALENTINO CREUS CPA P01054153 8189549700 24.176.202.186 2020-10-29 10:02:54 PD P 4B4B482FCE968EB1DE02296122A4605194E2ED55 048EE652F0479155537D3ADFC76134B616B923FF 2019 2021-04-22 16:20:28Z DARIN WOINAROWICZ 8686 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 103395803 0 X WWW.ARROWHEADCU.ORG X CREDIT UNION 1949 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 503 10 950665 0 0 0 67347697 74400494 9700937 12333245 524272 756741 77572906 87490480 5000 0 0 0 27666229 32148349 0 0 0 32701696 38799505 60372925 70947854 17199981 16542626 1322565611 1491798538 1148259042 1289506809 174306569 202291729 X 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, ARROWHEAD CENTRAL 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 FINANCIAL SERVICES TO SOUTHERN CALIFORNIA AND CERTAIN PARTS OF NEVADA AND ARIZONA - AT DECEMBER 31, 2019 WE HAD 166,561 MEMBERS - 66,359 LOANS, AND 240,662 SHARE ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 19755 0 1 503 1 1 1 0 0 0 0 0 0 0 1 0 X 9 9 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X TONY SAWAYA SVPCFO 9093796897 8686 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 THOMAS POTTER BOARD CHAIRMAN 2.00 X 0 0 0 JOHN MCCORMACK BOARD VICE CHAIRMAN 2.00 X 0 0 0 DAN HYNES BOARD SECRETARY 2.00 X 0 0 0 PATRICIA COLE BOARD TREASURER 2.00 X 0 0 0 SHERRY KENDRICK BOARD MEMBER 2.00 X 0 0 0 TIM MCHARGUE BOARD MEMBER 2.00 X 0 0 0 BETH BOCKENHAUER BOARD MEMBER 2.00 X 0 0 0 CATHLEEN FARRAR BOARD MEMBER 2.00 X 0 0 0 JAMES HALE BOARD MEMBER 2.00 X 0 0 0 WAYNE THIES BOARD MEMBER 2.00 X 0 0 0 DARIN WOINAROWICZ PRESIDENT/CEO 40.00 X 1087645 0 118437 ROBERTO MARTINEZ EVP COO 40.00 X 438463 0 31966 TANIOS SAWAYA SVP CFO 40.00 X 377373 0 38027 VAUGHN BOOK SVP CIO 40.00 X 317932 0 21608 EMILY FRIESEN SVP MARKETING 40.00 X 263429 0 15638 WILLIAM WAGNER SVP OPERATIONS 40.00 X 258367 0 37836 ANN WADAGNOLO SVP CRO 40.00 X 257478 0 13777 VALERIE HOPKINS SVP HUMAN RESOURCES 40.00 X 216339 0 16285 DAVID FISHER VP BRANCHES 40.00 X 190519 0 15595 TRACY MADSEN VP CONTROLLER 40.00 X 164471 0 8982 KANDI GOSE-ORTIZ VP CONSUMER LENDING 40.00 X 158023 0 17038 HUGO GUZMAN VP CREDIT RISK 40.00 X 153112 0 13630 THERESA HAINSWORTH VP OPERATIONS 40.00 X 150587 0 7289 4033738 0 356108 35 0 1 0 SOUTHWEST BUSINESS CORPORATION PO BOX 795027 SAN ANTONIO TX 782795027 COLLECTION SERVICES 878347 LOOMIS HOLDING US INC DEPT 0757 PO BOX 120001 DALLAS TX 753120757 CASH & COIN SERVICING FOR ATM'S AND BRAN 813398 MENARD INC PO BOX 357 YORBA LINDA CA 92885 GENERAL CONTRACTOR 786362 ADVANCED NETWORK 8940 ACTIVITY ROAD SUITE F SAN DIEGO CA 92126 ATM SERVICING 726820 ARCA TECH SYSTEMS LLC 1151 HOLMES ROAD MEBANE NC 27302 IT SERVICES 616595 33 INTEREST ON LOANS 522100 38970587 38970587 OTHER OPERATING INCOME 522100 20632210 20371467 260743 FEE INCOME 522100 14797697 14107775 689922 74400494 12311800 12311800 15926768 15905323 21445 21445 21445 GAIN FROM BARGAIN PURCHASE 522100 563291 563291 OTHER NON-OPERATING INCOME 522100 193450 193450 756741 87490480 86539815 950665 0 4033738 20662500 3587163 2027511 1837437 146924 160619 208879 748107 13596542 1538355 2520782 99774 2032162 3360534 293568 PROVISIONS FOR LOANS & 7568000 MISCELLANEOUS OPERATING 4418814 LOAN SERVICING EXPENSE 1947321 OPERATING FEES 159124 70947854 22524559 28834651 110462228 159018146 10036077 10087323 1176693 1783737 59583163 29639777 29925085 29943386 442133402 518115633 688091519 722609884 18216048 21405778 1322565611 1491798538 33317337 50697476 1114941705 1238809333 1148259042 1289506809 X 0 0 0 0 174306569 202291729 174306569 202291729 1322565611 1491798538 X 16542626 5886746 5555788 X X 0 1 X 1 0 7434338 7434338 24615750 6971513 17644237 3661209 2022518 1638691 19087711 15861591 3226120 4784155 4784155 0 29943386 ALL OTHER INVESTMENT 5753789 F NET LOANS TO MEMBERS 698631645 F LOANS HELD FOR SALE 428896 F NCUA SHARE INSURANCE DEPOSIT 11729203 C PAID IN CAPITAL AT CORP 698666 C DEPOSITS IN COMMERCIAL BANKS 1891685 C INVESTMENTS IN NATURAL PERSON CU 3476000 C 722609884 MEMBERS' SHARE & SAVINGS ACCOUNTS 1238809333 1238809333 X PART X, LINE 2: FASB 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, 2019 AND 2018, 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. X X 1 1 X X 0 1 0 DARIN WOINAROWICZ PRESIDENT/CEO 729765 0 274829 0 83051 0 91497 0 26940 0 1206082 0 0 0 ROBERTO MARTINEZ EVP COO 353759 0 63249 0 21455 0 4074 0 27892 0 470429 0 0 0 TANIOS SAWAYA SVP CFO 289295 0 52062 0 36016 0 11200 0 26827 0 415400 0 0 0 VAUGHN BOOK SVP CIO 250105 0 44309 0 23518 0 6909 0 14699 0 339540 0 0 0 EMILY FRIESEN SVP MARKETING 215020 0 39546 0 8863 0 9403 0 6235 0 279067 0 0 0 WILLIAM WAGNER SVP OPERATIONS 210847 0 38694 0 8826 0 10428 0 27408 0 296203 0 0 0 ANN WADAGNOLO SVP CRO 201113 0 37758 0 18607 0 7459 0 6318 0 271255 0 0 0 VALERIE HOPKINS SVP HUMAN RESOURCES 188646 0 18366 0 9327 0 5846 0 10439 0 232624 0 0 0 DAVID FISHER VP BRANCHES 169094 0 19925 0 1500 0 7605 0 7990 0 206114 0 0 0 TRACY MADSEN VP CONTROLLER 136883 0 16284 0 11304 0 6586 0 2396 0 173453 0 0 0 KANDI GOSE-ORTIZ VP CONSUMER LENDING 139669 0 17113 0 1241 0 343 0 16695 0 175061 0 0 0 HUGO GUZMAN VP CREDIT RISK 135527 0 13425 0 4160 0 6162 0 7468 0 166742 0 0 0 THERESA HAINSWORTH VP OPERATIONS 133150 0 17146 0 291 0 6535 0 754 0 157876 0 0 0 PART I, LINE 4B THERE IS A SUPPLEMENTAL RETIREMENT PLAN FOR THE CEO. THE CREDIT UNION OWNS THE ASSETS IN THE PLAN AND THE FIRST VESTING DATE IS IN 2021. THE SECOND VESTING DATE IS IN 2031. THE CREDIT UNION PROVIDES SPLIT DOLLAR LIFE INSURANCE ARRANGEMENTS FOR THE FOLLOWING CURRENT EXECUTIVE: DARIN WOINAROWICZ. DARIN WOINAROWICZ OFFICER FUND PURCHASE OF A CASH VALUE LIFE INSURANCE POLICY X 10000000 10087323 0 1 1 10087323 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION INCREASED THE NUMBER OF BOARD MEMBERS FROM 7 TO 11 AND DISSOLVED THE SUPERVISORY COMMITTEE. AS OF 12/31/2019, THERE IS ONE VACANT SEAT. FORM 990, PART VI, SECTION A, LINE 6 ARROWHEAD CENTRAL 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. ARROWHEAD CENTRAL CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF ARROWHEAD CENTRAL 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 OUR 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 RETURN PREPARER E-MAILS A DRAFT OF THE FORM 990 TO THE ORGANIZATION'S CFO FOR HIS REVIEW. THE CFO PRESENTS ANY QUESTIONS, COMMENTS, OR CORRECTIONS TO THE RETURN PREPARER. UPON SATISFACTORY COMPLETION OF THE FORM 990, THE ORGANIZATION'S AUTHORIZED INDIVIDUAL PRESENTS THE RETURN TO THE BOARD OF DIRECTORS AND SIGNS THE APPROPRIATE SIGNATURE FORM(S) TO AUTHORIZE THE ELECTRONIC FILING OF THE RETURN. A COPY OF THE FORM 990, AS FILED, IS PROVIDED BY THE RETURN PREPARER TO THE ORGANIZATION'S CEO OR OTHER DESIGNATED INDIVIDIUAL(S). FORM 990, PART VI, SECTION B, LINE 12C FOR DIRECTORS, THE VOLUNTEER CODE OF PERSONAL AND BUSINESS CONDUCT (POLICY 1.16) (12 PAGES) REQUIRES ANNUAL, AT A MINIMUM, WRITTEN ACKNOWLEDGEMENT AND DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST. FOR OFFICERS AND KEY EMPLOYEES, THE EMPLOYEE HANDBOOK, GENERAL POLICIES, CODE OF PERSONAL AND BUSINESS CONDUCT (13 PAGES) REQUIRES DISCLOSURE OF OUTSIDE INTERESTS WHENEVER AN ACTIVITY MAY BE CONTRARY TO THE BEST INTEREST OF THE CREDIT UNION. ALL EMPLOYEES ARE REQUIRED TO SIGN A WRITTEN ACKNOWLEDGEMENT OF THE RECEIPT OF THE CODE OF PERSONAL AND BUSINESS CONDUCT AND OF ANY SUBSEQUENT CHANGES THERETO. VIOLATIONS MAY SUBJECT THE EMPLOYEE TO DISCIPLINARY MEASURES, UP TO AND INCLUDING TERMINATION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVES THE COMPENSATION FOR THE CEO. THE CEO APPROVES THE COMPENSATION FOR THE EXECUTIVES. MARKET DATA IS USED TO DETERMINE COMPENSATION COMPARABILITY AMONG THE EXECUTIVES' SALARIES. FORM 990, PART VI, SECTION C, LINE 19 THE NCUA 5300 CALL REPORT IS AVAILABLE TO THE PUBLIC ON THE NCUA WEBSITE. THE CREDIT UNION'S FINANCIALS ARE POSTED AT EACH BRANCH LOCATION. ANY MEMBER MAY REQUEST TO SEE BOARD MEETING MINUTES. FORM 990, PART XI, LINE 9: CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME 4,163,500. EQUITY ACQUIRED IN MERGER 1,454,569. ADJUSTMENT TO UNDIVIDED EARNINGS -62,276. ROUNDING -5. FORM 990, PART XII, LINE 2C: DESERT COMMUNITIES FEDERAL CREDIT UNION MERGED INTO ARROWHEAD CENTRAL CREDIT UNION EFFECTIVE APRIL 1, 2019. ARROWHEART FOUNDATION 8686 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 463720925 CHARITY FUND CA 501(C)(3) LINE 7 ARROWHEAD CENTRAL CREDIT UNION 0 ARROWHEAD FINANCIAL GROUP INC 8686 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 330082959 INSURANCE CA ARROWHEAD CENTRAL CREDIT UNION C 36374 261948 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 ARROWHEAD FINANCIAL GROUP INC Q AMOUNT BELOW THRESHOLD