2020-11-11T13:41:32-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2019-01-01 941244186 REDWOOD CREDIT UNION REDW 8004797928 3033 CLEVELAND AVE NO 100 SANTA ROSA CA 95403 RONALD FELDER CHIEF FINANCIAL & RISK OFFICER 8004797928 2020-11-10 1 MARY C GREEN P00447183 6022662248 2020-11-10 67.137.57.251 2020-11-10 19:21:04 MS P 5E83B4D2F623A1635B106737111B0ED595857C68 02CA234FBCA38BC040217BAD4488B34B52AF085C 2019 2022-01-07 14:23:13Z BRETT MARTINEZ 3033 CLEVELAND AVE NO 100 SANTA ROSA CA 95403 237085485 0 X WWW.REDWOODCU.ORG X 1950 CA PROVIDE FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 9 9 735 11 226153 0 0 0 196393563 220515470 19065332 16482537 83040 87478 215541935 237085485 3000000 1474000 13999719 24526624 49044640 60151549 0 0 0 62209870 61699190 128254229 147851363 87287706 89234122 4454112489 4988759555 3913026061 4358964335 541086428 629795220 PASSIONATELY SERVING THE BEST INTERESTS OF OUR MEMBERS, EMPLOYEES, AND COMMUNITIES. SERVING ALL OF OUR MEMBERS FINANCIAL SERVICE NEEDS. 0 0 REDWOOD CREDIT UNION IS ENGAGED IN PROVIDING LOW COST FINANCIAL SERVICES TO OUR MEMBER-OWNERS AS A COOPERATIVE ORGANIZATION. 0 0 1 0 0 0 0 0 0 1 0 0 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 0 1 1 1 0 1 65487 0 735 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 1 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 0 0 CA X MICHAEL GAY CONTROLLER 8004797928 3033 CLEVELAND AVE SUITE 100 SANTA ROSA CA 95403 BRETT MARTINEZ PRESIDENT/CEO 40.00 X 1250431 0 280671 CYNTHIA NEGRI COO 40.00 X 684815 0 202575 RONALD FELDER CHIEF FINANCIAL & RISK OFFICER 40.00 X 607182 0 129382 ANTHONY E HILDESHEIM CHIEF ADMINISTRATIVE OFFICER 40.00 X 500674 0 185730 MICHAEL DEFAZIO FINANCIAL ADVISOR 40.00 X 598340 0 17137 KRISTINA DERKOS SVP PEOPLE 40.00 X 415921 0 135837 DIANNA BERTHINIER SVP LENDING 40.00 X 444955 0 89629 THOMAS HUBERT AUTO, INS & WEALTH SERVICE 40.00 X 427171 0 85258 MISHEL KAUFMAN SVP RISK MANAGEMENT 40.00 X 360220 0 88621 CLARK R MATTHIESSEN FINANCIAL ADVISOR 40.00 X 413524 0 27744 JULIE NIX FINANCIAL ADVISOR 40.00 X 416328 0 21956 SCOTT DYKSTRA SR LOAN OFFICER 40.00 X 400116 0 21135 SHEILA O'NEIL EXTERNAL MORTGAGE LOAN OFFICER 40.00 X 396162 0 13063 TODD N LINDEMANN SVP PAYMENTS 40.00 X 331531 0 74928 ALISA HEATH SVP/ACCOUNTING & FINANCE 40.00 X 321601 0 21087 MATTHEW MARTIN SVP/COMM AND GOV'T RELATIONS 40.00 X 292564 0 49548 AARON COLLIER SVP IT 40.00 X 269064 0 48087 KIMBERLY WILLIAMS SVP/STRATEGY, PROJECTS, CRE 40.00 X 261761 0 34918 SUZANNE KNOWLTON SVP/MARKETING & COMMUNICATIONS 40.00 X 240221 0 22994 DAVID UPHAM SVP MEMBER EXPERIENCE 40.00 X 169821 0 24006 DEBBIE WATTS CHAIR 1.00 X X 0 0 0 ROD DOLE VICE CHAIR 1.00 X X 0 0 0 ROBERT EYLER TREASURER 1.00 X X 0 0 0 GREG MCGUIRK SECRETARY 1.00 X X 0 0 0 JIM OLMSTED DIRECTOR 1.00 X 0 0 0 JUDY HERRERIAS-JAMES DIRECTOR 1.00 X 0 0 0 M CHRISTINA RIVERA DIRECTOR 1.00 X 0 0 0 LISA WITTKE SCHAFFNER DIRECTOR 1.00 X 0 0 0 ROBERT STEELE DIRECTOR 1.00 X 0 0 0 DAVE IMOTO DIRECTOR (LEFT 2019) 1.00 X 0 0 0 BOB WIECK DIRECTOR (LEFT 2019) 1.00 X 0 0 0 8802402 0 1574306 139 0 1 0 WESTERN BUILDERS 1400 N DUTTON AVE SUITE 7 SANTA ROSA CA 95401 GENERAL CONTRACTORS 6761582 INFOLMAGE INC 141 JEFFERSON DR MENLO PARK CA 94025 STATEMENTS PROVIDER 2079167 FTSI PO BOX 919 MONROVIA CA 91017 ATM EQUIPMENT & MAINTENANCE 1686067 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 ATM EQUIPMENT & MAINTENANCE 1603764 QUEST PO BOX 910 ROSEVILLE CA 95678 IT EQUIPMENT AND SUPPORT 1590502 95 INTEREST ON LOANS TO MEMBERS 522100 165632915 165632915 SERVICE CHARGES AND FEES 522100 20218362 20066512 151850 INTERCHANGE INCOME 522100 19719705 19719705 GAIN ON SALE OF LOANS 522100 4974438 4974438 OTHER NON-INTEREST INCOME 522100 4672733 4672733 5297317 5297317 220515470 16454788 23678 16431110 87478 0 87478 87478 50625 36853 27749 0 27749 27749 27749 237085485 220363620 226153 16495712 1474000 24526624 8051202 41932868 2875468 3483848 3808163 1233996 22146 19535 9702087 4787396 6411702 5275024 1826840 37 4879439 PROVISION FOR LOAN LOSS 13710165 LOAN SERVICING 8065696 LOSSES AND FRAUD 3225882 MISCELLANEOUS EXPENSES 1844259 694986 147851363 780584601 826666845 14221179 19308292 3476997171 3933723684 97169122 35660356 53495477 61508766 451201 404560 20000758 22597256 86185 22620 108275917 124527532 4454112489 4988759555 31417158 35817612 3881608903 4323146723 3913026061 4358964335 X 0 0 0 0 541086428 629795220 541086428 629795220 4454112489 4988759555 X 89234122 6404 -531734 X 0 1 X 1 0 19535 19535 19535 1 SANTA ROSA METRO CHAMBER 50 OLD COURTHOUSE SQUARE SUITE 110 SANTA ROSA CA 95404 940842470 35 CALIFORNIA CREDIT UNION LEAGUE 2855 E GUASTI ROAD SUITE 600 ONTARIO CA 91761 942329967 17000 MIKE MCGUIRE FOR STATE SENATE 2022 369B THIRD STREET SUITE 652 SAN RAFAEL CA 94901 463842849 2500 PART I-A, LINE 1: CONTRIBUTIONS TO POLITICAL ORGANIZATIONS 13587000 13587000 37363165 10955699 26407466 10705273 5139309 5565964 28364648 19565348 8799300 7149036 7149036 61508766 MEMBERS' SHARE AND SAVINGS ACCOUNTS 4323146723 4323146723 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14) FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED THEIR TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2019 AND 2018. THE CREDIT UNION AND ITS SUBSIDIARY'S 2016 THROUGH 2018 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 REDWOOD CREDIT UNION COMMUNITY FUND INC 3033 CLEVELAND AVENUE SANTA ROSA CA 95403 475084832 501(C)(3) 1474000 UNRESTRICTED 1 0 PART I, LINE 2: NO FORMAL MONITORING PROCEDURES ARE IMPLEMENTED. X 1 1 X X X X 0 1 0 BRETT MARTINEZ PRESIDENT/CEO 771722 0 424886 0 53823 0 235248 0 45423 0 1531102 0 0 0 CYNTHIA NEGRI COO 507104 0 140150 0 37561 0 173414 0 29161 0 887390 0 0 0 RONALD FELDER CHIEF FINANCIAL & RISK OFFICER 447803 0 133717 0 25662 0 117720 0 11662 0 736564 0 0 0 ANTHONY E HILDESHEIM CHIEF ADMINISTRATIVE OFFICER 355763 0 119498 0 25413 0 168445 0 17285 0 686404 0 0 0 MICHAEL DEFAZIO FINANCIAL ADVISOR 54080 0 527123 0 17137 0 8400 0 8737 0 615477 0 0 0 KRISTINA DERKOS SVP PEOPLE 313248 0 65891 0 36782 0 107455 0 28382 0 551758 0 0 0 DIANNA BERTHINIER SVP LENDING 330533 0 95069 0 19353 0 78323 0 11306 0 534584 0 0 0 THOMAS HUBERT AUTO, INS & WEALTH SERVICE 316035 0 78218 0 32918 0 65526 0 19732 0 512429 0 0 0 MISHEL KAUFMAN SVP RISK MANAGEMENT 293426 0 37372 0 29422 0 66631 0 21990 0 448841 0 0 0 CLARK R MATTHIESSEN FINANCIAL ADVISOR 54080 0 334443 0 25001 0 11143 0 16601 0 441268 0 0 0 JULIE NIX FINANCIAL ADVISOR 54080 0 340292 0 21956 0 14000 0 7956 0 438284 0 0 0 SCOTT DYKSTRA SR LOAN OFFICER 100006 0 278975 0 21135 0 14000 0 7135 0 421251 0 0 0 SHEILA O'NEIL EXTERNAL MORTGAGE LOAN OFFICER 40019 0 343081 0 13062 0 6255 0 6808 0 409225 0 0 0 TODD N LINDEMANN SVP PAYMENTS 255050 0 51799 0 24682 0 63398 0 11530 0 406459 0 0 0 ALISA HEATH SVP/ACCOUNTING & FINANCE 289266 0 15837 0 16498 0 14309 0 6778 0 342688 0 0 0 MATTHEW MARTIN SVP/COMM AND GOV'T RELATIONS 226886 0 37935 0 27743 0 34224 0 15324 0 342112 0 0 0 AARON COLLIER SVP IT 227718 0 15777 0 25569 0 31345 0 16742 0 317151 0 0 0 KIMBERLY WILLIAMS SVP/STRATEGY, PROJECTS, CRE 227011 0 22536 0 12214 0 33757 0 1161 0 296679 0 0 0 SUZANNE KNOWLTON SVP/MARKETING & COMMUNICATIONS 207646 0 9582 0 22993 0 10066 0 12928 0 263215 0 0 0 DAVID UPHAM SVP MEMBER EXPERIENCE 143416 0 13431 0 12974 0 18137 0 5869 0 193827 0 0 0 PART I, LINE 1A THE CREDIT UNION PROVIDES COMPENSATION FOR TRAVEL COMPANIONS FOR MEMBERS OF MANAGEMENT AND BOARD MEMBERS. PART I, LINE 4B 457(F) PLAN - THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF SENIOR MANAGEMENT. UNDER THE TERMS OF THE PLAN, THE PARTICIPANTS ARE ENTITLED TO BENEFITS IF THEY REMAIN EMPLOYED BY THE CREDIT UNION UNTIL A PREDETERMINED TIME. THESE BENEFITS ARE BASED ON ELEMENTS OF THE CREDIT UNION'S LONG TERM INCENTIVE PLAN, WHICH CONSIDERS INDIVIDUAL PERFORMANCE, AS WELL AS THE OVERALL PERFORMANCE OF THE CREDIT UNION, IN DETERMINATION OF EMPLOYEE BENEFITS. IF THESE EMPLOYEES BECOME FULLY DISABLED AS DEFINED IN THE AGREEMENT, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE. THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE AS DEFINED IN THE AGREEMENT. THERE WERE NO DISTRIBUTIONS FROM THIS PLAN DURING 2019. THE FOLLOWING WERE CONTRIBUTIONS MADE DURING 2019: BRETT MARTINEZ - $197,409 CYNTHIA NEGRI - $114,987 RONALD FELDER - $103,720 ANTHONY HILDESHEIM - $105,749 KRISTINA DERKOS - $58,820 DIANNA BERTHINIER - $70,276 THOMAS HUBERT - $52,341 MISHEL KAUFMAN - $27,186 TODD LINDEMANN - $50,246 ALISA HEATH - $14,309 MATTHEW MARTIN - $21,804 AARON COLLIER - $22,518 KIMBERLY WILLIAMS - $22,704 DAVID UPHAM - $11,032 PART I, LINE 4B SPLIT DOLLAR LIFE INSURANCE POLICY: THE CREDIT UNION HAS GRANTED NOTES RECEIVABLE FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT SENIOR MANAGEMENT PERSONNEL. THE NOTES ARE COLLATERALIZED BY THE ASSIGNMENT OF THE POLICY DEATH BENEFITS AND CASH VALUES, OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVE(S) WHO HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES FOR AMOUNTS NOT SECURED BY THE ASSIGNMENTS. AT THE TIME OF RETIREMENT, THE NOTE BECOMES DUE AND PAYABLE AND CAN BE PAID WITH THE CASH VALUE OF THE LIFE INSURANCE POLICIES, OR WITH OTHER PERSONAL FUNDS AT THE EXECUTIVE'S DISCRETION. THE LOANS ARE CONSIDERED NON-RECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE, PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. BRETT MARTINEZ PRESIDENT/ CEO TO FUND SPLIT DOLLAR PLAN INSURANCE POLICY X 15706866 16799125 0 1 1 BRETT MARTINEZ PRESIDENT/ CEO TO FUND SPLIT DOLLAR PLAN INSURANCE POLICY X 5200000 2509167 0 0 0 19308292 FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF DIRECTORS MAY APPOINT AN EXECUTIVE COMMITTEE OF NO FEWER THAN THREE (3) DIRECTORS. WITH THE WRITTEN APPROVAL OF THE COMMISSIONER OF BUSINESS OVERSIGHT, 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 PERTAINING TO CREDIT UNIONS. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE UPDATED TO CHANGE THE NUMBER OF BOARD MEMBERS FROM 9, TO A RANGE OF 7 TO 11. THE BYLAWS ALSO WERE UPDATED TO CREATE THE OPTION TO HAVE AN AUDIT COMMITTEE INSTEAD OF THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS GENERALLY CONSISTS OF INDIVIDUALS (AND THEIR BUSINESSES) THAT RESIDE IN OR ARE EMPLOYED IN SONOMA COUNTY AND SURROUNDING COUNTIES IN NORTHERN CALIFORNIA. FORM 990, PART VI, SECTION A, LINE 7A ORGANIZATION IS A CREDIT UNION AND THE MEMBERS ELECT THE BOARD OF DIRECTORS. 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 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C VOLUNTEERS MUST DISCLOSE TO THE BOARD OF DIRECTORS ANNUALLY ANY INVOLVEMENT WITH ORGANIZATIONS WHICH DO BUSINESS WITH THE CREDIT UNION. CREDIT UNION SENIOR MANAGEMENT SIGNS A DISCLOSURE ANNUALLY PER POLICY. ALL EMPLOYEES ARE REQUIRED TO REPORT ANY POTENTIAL CONFLICTS OF INTEREST. FOR EMPLOYEES, THIS WOULD BE REPORTED TO THEIR SUPERVISOR. FOR DIRECTORS, THIS WOULD BE REPORTED ON THEIR CONFLICT OF INTEREST STATEMENT AND REPORTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION OF THE CEO IS APPROVED BY THE BOARD OF DIRECTORS AFTER THE COMPENSATION COMMITTEE GATHERS DATA FROM OUTSIDE SOURCES AND REVIEWS SURVEY AND OTHER DATA. FOR OTHER OFFICERS AND KEY EMPLOYEES, THIRD PARTY DATA IS USED TO ADJUST THE COMPENSATION TO MARKET DATA. ALL OF THE JOBS ARE GRADED, AND IN EACH GRADE, THERE IS A FLOOR, CEILING AND MARKET. ALL COMPENSATION DECISIONS ARE DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. QUARTERLY INCOME STATEMENTS ARE POSTED AT EACH BRANCH. ANNUAL FINANCIALS AND ANNUAL REPORT ARE AVAILABLE ON THE COMPANY'S WEBSITE. FORM 990, PART XI, LINE 9: LOSS ON CUSO INVESTMENTS -531,734. REDWOOD CREDIT UNION COMMUNITY FUND INC 3033 CLEVELAND AVENUE SANTA ROSA CA 95403 475084832 ADVANCING WELL-BEING OF THE COMMUNITY CA 501(C)(3) 7 REDWOOD CREDIT UNION 1 RCU SERVICES GROUP INC 3303 CLEVELAND AVE SUITE 100 SANTA ROSA CA 95404 680465274 INSURANCE AND AUTO SERVICES CA REDWOOD CREDIT UNION C 4142636 5832945 1.00000 1 1 1 0 1 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 RCU SERVICES GROUP INC A 74303 CASH REDWOOD CREDIT UNION COMMUNITY FUND INC B 1474000 CASH RCU SERVICES GROUP INC D 1309270 12/31/19 LOAN BALANCE RCU SERVICES GROUP INC L 303830 CASH RCU SERVICES GROUP INC P 64086 CASH RCU SERVICES GROUP INC Q 4131216 CASH REDWOOD CREDIT UNION COMMUNITY FUND INC Q 51487 CASH