2019-11-15T14:23:35-06:00 2018-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1100 MINNEAPOLIS MN 554022526 990 2018-01-01 953442691 PREMIER AMERICA CREDIT UNION PREM 8187724021 19867 PRAIRIE STREET CHATSWORTH CA 91311 BRAD CUNNINGHAM SVP/CFO 8187724021 2019-11-15 1 KACIE MCEWEN P01599614 6123324300 66.98.98.3 2019-11-15 07:39:29 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B56786F7D21A8F39D00ED83C272556B8DDCB8C36 2018 2020-03-31 21:24:44Z RODOLFO J PEREIRA 19867 PRAIRIE STREET CHATSWORTH CA 91311 101708977 0 1526 X WWW.PREMIERAMERICA.COM X 1957 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST ITS MEMBERS. 9 9 584 12 1110023 0 0 0 80701656 92962640 5992832 8373640 207319 108622 86901807 101444902 125764 127021 13170092 19611506 28502688 32173469 0 0 0 23699411 25957061 65497955 77869057 21403852 23575845 2467069812 2673451881 2213463521 2395928463 253606291 277523418 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 12,042 NEW MEMBERS IN 2018. TOTAL MEMBERSHIP STOOD AT 112,016 AS OF DECEMBER 31, 2018 WHILE DEPOSIT BALANCES GREW BY $184 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 540 REAL ESTATE LOANS AND HOME EQUITY LINES OF CREDIT TOTALING $395 MILLION TO ITS MEMBERS. THE CREDIT UNION'S CORE VALUES AND PURPOSE DRIVE OUR COMMITMENT TO SERVING MEMBERS AND LOCAL COMMUNITIES. IN 2018, OUR DEDICATION TO GIVING BACK WAS OF PARAMOUNT IMPORTANCE AS PREMIER AMERICA DONATED $150,208 TO LOCAL CHARITIES AND COMMUNITY ORGANIZATIONS AND TEAM MEMBERS INVESTED 949 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 64019 0 1 584 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CA X NATALIE KIM 8187724021 19867 PRAIRIE STREET CHATSWORTH CA 91311 LARRY COLSON CHAIR 1.00 X X 0 0 0 WILLIAM COLE VICE CHAIR 1.00 X X 0 0 0 GARY HOLMEN SECRETARY/TREASURER 1.00 X X 0 0 0 JOHN DE VERE JR DIRECTOR 1.00 X 0 0 0 KURT FORD DIRECTOR 1.00 X 0 0 0 ERIC GOLDNER DIRECTOR 1.00 X 0 0 0 LARRY MARTIN DIRECTOR 1.00 X 0 0 0 ROGER LUBIG DIRECTOR 1.00 X 0 0 0 JOANN KLONOWSKI DIRECTOR 1.00 X 0 0 0 RODOLFO PEREIRA PRESIDENT & CEO 40.00 X 836045 0 46074 W BRAD CUNNINGHAM SENIOR VP, CFO 40.00 X 1010910 0 27287 MARJORIE MCNAUGHT SENIOR VP, LOAN ADMINISTRATION 40.00 X 594487 0 25164 DONNA MCNEELY SENIOR VP, MEMBER EXPERIENCE 40.00 X 254677 0 16200 TONI DANIELS SENIOR VP, OPERATIONS ADMINISTRATION 40.00 X 356822 0 29645 GLEN CHRZAS SENIOR VP, SYSTEMS & TECHNOLOGY 40.00 X 345615 0 35008 MARIANNE BLITSCH DIRECTOR, COMMUNITY RELATIONS 40.00 X 1401968 0 24256 THOMAS NEUHAUS DIRECTOR, COMMUNITY RELATIONS 40.00 X 1032422 0 31099 JAMES GLYNN DIRECTOR, COMMUNITY RELATIONS 40.00 X 816641 0 26731 KELLY KARREN FINANCIAL ADVISOR 40.00 X 299931 0 28808 JASON DEREK LEE FINANCIAL ADVISOR 40.00 X 232880 0 32327 JOHN M MERLO FORMER OFFICER 0.00 X 150442 0 0 7332840 0 322599 48 1 1 0 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING 1074782 FINANCIAL TECHNOLOGY SOLUTIONS INTL INC 406 E HUNTINGTON DRIVE SUITE 100 MONROVIA CA 91016 ATM SERVICING 927860 FINANCIAL STATEMENT SERVICE INC 3300 SOUTH FAIRVIEW ST SANTA ANA CA 92704 STATEMENT PRINTING/MAILING 506043 CAM SERVICES 5664 SELMARAINE DR CULVER CITY CA 90230 CLEANING/JANITORIAL SERVICES 372762 NTR CONSTRUCTION CO 7500 TOPANGA CANYON BLVD 2ND FLR CANOGA PARK CA 91303 OFFICE AND BRANCH REMODELS 264886 32 INCOME FROM MEMBER LOANS 522100 77942630 77942630 SERVICE CHARGES & OTHER FEES 522100 6302732 6054443 248289 INTERCHANGE INCOME 522100 5082570 5082570 INVESTMENT BROKERAGE COMMISSIONS 523000 2385920 2385920 OTHER MISC INCOME 522100 1248788 387054 861734 92962640 8373640 8373640 372697 264075 108622 108622 108622 101444902 91852617 1110023 8482262 127021 19611506 3580984 19849805 4013633 1893167 2835880 144618 432660 10719 257472 1612155 7632929 3741811 213344 2737046 304236 356019 2030668 186343 LOAN PROCESSING EXPENSE 3358539 PROVISION FOR LOAN LOSS 1200000 CORE DEPOSIT PREMIUM AM 960341 GOODWILL AMORTIZATION 122960 655201 77869057 262818956 300217830 5609654 6113578 1957498064 2172641719 3281766 3485921 33238960 17928159 15690388 15310801 169331000 119396000 15041516 14570864 6566980 5483679 31231488 36231489 2467069812 2673451881 21482913 19461272 2191980608 2376467191 2213463521 2395928463 X 0 0 0 0 253606291 277523418 253606291 277523418 2467069812 2673451881 23575845 341282 0 X 0 1 X 1 0 10719 10719 10719 1 CALIFORNIA NEVADA CREDIT UNION PAC 1201 K ST SUITE 105C SACRAMENTO CA 95814 942329967 10719 PART I-A, LINE 1: THE CREDIT UNION MAKES CONTRIBUTIONS TO SUPPORT CANDIDATES OR POLITICAL ACTION COMMITTEES PROMOTING CREDIT UNION CAUSES. 3731593 3731593 15061717 7747714 7314003 6261830 3988528 2273302 8183820 6191917 1991903 15310801 MEMBERS' SHARES 2376467191 2376467191 X 101396577 0 101396577 48325 48325 101444902 77820732 -48325 -48325 77869057 0 77869057 PART X, LINE 2: AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SERP MARKET GAIN RECLASSIED TO REVENUE 48,325. PART XII, LINE 2D - OTHER ADJUSTMENTS: SERP MARKET GAIN RECLASSIED TO REVENUE -48,325. 1 CHILDREN'S MIRACLE NETWORK HOSPITALS 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 16500 SPONSOR CREDIT UNION KIDS WINE AUCTION 1 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. UNDER THE PAY IT FORWARD PROGRAM OF THE CREDIT UNION, CASH DONATIONS OF $250 EACH ARE GIVEN TO LOCAL NON-PROFIT CHARITABLE ORGANIZATIONS NOMINATED BY CREDIT UNION MEMBERS. GRANTS EXCEEDING $250 ARE GIVEN ONLY TO WELL-KNOWN ESTABLISHED CHARITABLE ORGANIZATIONS WHOSE ACTIVITIES ARE COMMON KNOWLEDGE AND RECOGNIZED IN THE COMMUNITY SUCH AS THE AMERICAN CANCER SOCIETY, CHILDREN'S MIRACLE NETWORK HOSPITALS, HABITAT FOR HUMANITY, GIRLS AND BOYS SCOUTS OF AMERICA LOCAL TROOPS, AMERICAN RED CROSS, AND OTHER SIMILAR ORGANIZATIONS. X X X 1 1 X X X 0 1 0 RODOLFO PEREIRA PRESIDENT & CEO 629397 0 206648 0 0 0 18474 0 29108 0 883627 0 0 0 W BRAD CUNNINGHAM SENIOR VP, CFO 901843 0 109067 0 0 0 21118 0 6545 0 1038573 0 609854 0 MARJORIE MCNAUGHT SENIOR VP, LOAN ADMINISTRATION 424571 0 169916 0 0 0 16200 0 9340 0 620027 0 0 0 DONNA MCNEELY SENIOR VP, MEMBER EXPERIENCE 145851 0 108826 0 0 0 16200 0 94 0 270971 0 0 0 TONI DANIELS SENIOR VP, OPERATIONS ADMINISTRATION 260060 0 96762 0 0 0 16200 0 13796 0 386818 0 0 0 GLEN CHRZAS SENIOR VP, SYSTEMS & TECHNOLOGY 250559 0 95056 0 0 0 16200 0 19153 0 380968 0 0 0 MARIANNE BLITSCH DIRECTOR, COMMUNITY RELATIONS 1401968 0 0 0 0 0 16200 0 8267 0 1426435 0 1201292 0 THOMAS NEUHAUS DIRECTOR, COMMUNITY RELATIONS 1032422 0 0 0 0 0 12528 0 18742 0 1063692 0 890871 0 JAMES GLYNN DIRECTOR, COMMUNITY RELATIONS 816641 0 0 0 0 0 13466 0 13413 0 843520 0 697713 0 KELLY KARREN FINANCIAL ADVISOR 299931 0 0 0 0 0 13244 0 15936 0 329111 0 0 0 JASON DEREK LEE FINANCIAL ADVISOR 232880 0 0 0 0 0 11964 0 20452 0 265296 0 0 0 JOHN M MERLO FORMER OFFICER 0 0 106739 0 43703 0 0 0 0 0 150442 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: MARJORIE MCNAUGHT W. BRAD CUNNINGHAM - $609,854 DISTRIBUTION RECEIVED IN 2018 TONI DANIELS DONNA MCNEELY GLEN CHRZAS MARIANNE BLITSCH - $1,201,292 DISTRIBUTION RECEIVED IN 2018 THOMAS NEUHAUS - $890,871 DISTRIBUTION RECEIVED IN 2018 JAMES GLYNN - $697,713 DISTRIBUTION RECEIVED IN 2018 RODOLFO PEREIRA FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED IN FEBRAURY 2018 FOR THE FOLLOWING ITEMS: 1. ESTABLISHED AN AUDIT COMMITTEE IN LIEU OF THE SUPERVISORY COMMITTEE. 2. DELETED THE REQUIREMENT THAT ALL MEMBERSHIP APPLICATIONS BE REVIEWED BY THE BOARD OF DIRECTORS. 3. ALTHOUGH THE BOARD MEETS MONTHLY, IT WAS ESTABLISHED THAT THEY MEET NO LESS THAN QUARTERLY. 4. ESTABLISHED THE BOARD WILL REVIEW AT LEAST QUARTERLY DELINQUENT LOANS. 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).