2019-11-15T12:13:24-06:00 2018-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2018-01-01 951790568 VENTURA COUNTY CREDIT UNION VENT 8054774024 2575 VISTA DEL MAR DRIVE SUITE 100 VENTURA CA 93001 LINDA SIM CFO 8054774024 2019-11-08 1 VALENTINO CREUS CPA P01054153 8189549700 24.176.202.186 2019-11-08 11:26:58 PS P 858CFD5BF01852FA2489562124A1344FB9A1C194 858CFD5BF01852FA2489562124A1344FB9A1C194 2018 2020-03-31 21:24:44Z JOSEPH SCHROEDER 2575 VISTA DEL MAR DRIVE SUITE 100 VENTURA CA 93001 47412183 0 X WWW.VCCUONLINE.NET X CREDIT UNION 1950 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 242 12 258642 0 0 0 39668352 42918499 4199402 4205325 286634 288359 44154388 47412183 120508 182948 0 0 12952424 14125294 0 0 0 26420744 25155496 39493676 39463738 4660712 7948445 836490079 862256443 765307612 783290637 71182467 78965806 X VENTURA COUNTY CREDIT UNION IS 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, VENTURA COUNTY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 THE CREDIT UNION PROVIDED MORE THAN $50,000 IN GRANTS TO 65 MEMBERS WHOSE HOMES WERE LOST OR DAMAGED. THE CREDIT UNION WAS RANKED AS THE TOP SBA LENDER IN VENTURA COUNTY FOR THE SECOND YEAR IN A ROW. FOR THE NINTH YEAR IN A ROW, VENTURA COUNTY CREDIT UNION WAS AWARDED THE BEST FINANCIAL INSTITUTION IN VENTURA COUNTY BY A VC REPORTER READERS' POLL. THE CREDIT UNION WAS VOTED BEST/FAVORITE CREDIT UNION BY VARIOUS COUNTIES, CONSUMER GROUPS, AND INDUSTRY ASSOCIATIONS DURING THE YEAR. THE CREDIT UNION'S CEO WAS AWARDED THE LATINO LEADERSHIP AWARD BY EL CONCILIO FAMILY SERVICES AND FEATURED IN WHO'S WHO IN BANKING AND FINANCE BY PACIFIC COAST BUSINESS TIMES. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 12165 0 1 242 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 1 1 1 1 1 1 1 1 0 CA X X LINDA SIM CFO 8054774024 2575 VISTA DEL MAR DRIVE SUITE 100 VENTURA CA 93001 SUE TATANGELO CHAIRPERSON 5.00 X 0 0 0 ROXANNE OSTREM VICE CHAIRPERSON 4.00 X 0 0 0 SONIA AMEZCUA SECRETARY 3.80 X 0 0 0 JEFF LANDIS ASSISTANT SECRETARY 3.80 X 0 0 0 PHILIP BOHAN TREASURER 3.80 X 0 0 0 MARGO BYRNE BOARD MEMBER 3.80 X 0 0 0 GREG STUART BOARD MEMBER 3.80 X 0 0 0 DANIELLE BRINKMAN-VERA SUPV CMTE CHAIR 2.00 X 0 0 0 KENNETH KAGAN SUPV CMTE MEMBER 1.30 X 0 0 0 SCOTT KOPALD SUPV CMTE MEMBER 1.30 X 0 0 0 LISA MCINALLY SUPV CMTE MEMBER 1.30 X 0 0 0 ADAM SIMPSON SUPV CMTE MEMBER 1.30 X 0 0 0 JOSEPH SCHROEDER PRESIDENT/CEO 45.00 X 1053549 0 50039 LINDA SIM CFO 45.00 X 256985 0 46243 GAVIN BRADLEY COO 45.00 X 252721 0 47242 LINDA ROSSI CAO 45.00 X 261261 0 24948 CLINTON LOVINGER VP MEMBER SERVICES 45.00 X 157517 0 25944 APRIL REMNANT VP DELIVERY SERVICES 45.00 X 131220 0 29068 MARK ROSS VP IT 45.00 X 186373 0 42770 EDMOND SAHAKIAN VP MTG AND BUSINESS 45.00 X 185442 0 27323 GINA O'CALLAGHAN FINANCIAL ADVISOR 45.00 X 180628 0 20813 DAVID KANONGATAA FINANCIAL ADVISOR 45.00 X 209760 0 21712 LINDA MUSE-TABATA SR HOME LOAN SPECIALIST 45.00 X 185331 0 10830 3060787 0 346932 13 0 1 0 THE MEMBERS GROUP PO BOX 10410 DES MOINES IA 50307 PLASTIC CARD SERVICES 1735850 JACK HENRY & ASSOCIATES INC P O BOX 609 MONETT MO 65708 INFORMATION PROCESSING SOLUTIONS 796344 BDI-BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STMT & POSTAGE SERVICES 496031 ALOGENT HOLDINGS INC 350 TECHNOLOGY PARKWAY NW NORCROSS GA 30092 TECHNOLOGY SOLUTION 404403 KEY INFORMATION SYSTEMS INC 30077 AGOURA CT FIRST FLOOR AGOURA HILLS CA 91301 IT SERVICES 383040 26 INTEREST ON LOANS 522100 29066333 29066333 OTHER OPERATING INCOME 522100 7254646 7066489 188157 FEE INCOME 522100 6597520 6527035 70485 42918499 4205325 4205325 OTHER NON-OPERATING INCOME 522210 288359 288359 288359 47412183 47153541 258642 0 103448 79500 3060787 8168050 362817 1580351 953289 117316 158130 380440 1024103 6366234 1937157 1706485 218685 2178021 2580478 302664 PROV FOR LOAN LOSSES 5315805 LOAN SERVICING EXPENSE 1985513 MISC OPERATING EXPENSE 792508 OPERATING FEES 91957 39463738 5083171 4228382 31446463 32208633 8040187 8223389 1232189 1232124 52585053 18933786 35152035 33651267 137347463 123146921 594520180 635165562 23668391 24400165 836490079 862256443 12928289 12603072 752379323 770687565 765307612 783290637 X 0 0 0 0 71182467 78965806 71182467 78965806 836490079 862256443 7948445 -165104 0 X 0 1 X 1 0 7844 7844 7844 1 CCUL - PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 940357265 7844 9698188 9698188 29488457 10094147 19394310 3890346 1518059 2372287 9508062 7321580 2186482 33651267 ALL OTHER INVESTMENTS 3579900 F LOANS AND LEASES 612421597 F NCUA SHARE INSURANCE CAP DEPOSIT 7491652 C HELD-TO-MATURITY SECURITIES 11672413 C 635165562 DIVIDENDS PAYABLE 141746 TOTAL SHARES AND DEPOSITS 770545819 770687565 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 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 WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED JUNE 30, 2018, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 CALIFORNIA LUTHERAN UNIVERSITY 60 WEST OLSEN ROAD THOUSAND OAKS CA 91360 952962604 501(C)(3) 5000 FMV CLU CLUB SERIES 2018-2019 CA STATE UNIVERSITY CHANNEL ISLANDS FOUNDATION ONE UNIVERSITY DRIVE CAMARILLO CA 93012 770433230 501(C)(3) 5500 FMV FURTHER EDUCATIONAL PURPOSES OF CSU, CHANNEL ISLANDS WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT ROAD MADISON WI 53705 396093210 501(C)(3) 5000 FMV 2018 ANNUAL DONATION WOMEN'S ECONOMIC VENTURES 520 W 5TH ST STE F OXNARD CA 93030 953674624 501(C)(3) 7500 FMV 2018 WOMEN ECONOMIC VENTURES EMPOWERMENT SPONSOR VENTURA COUNTY DEPUTY SHERIFF ASSO 981 SVICTORIA AVE VENTURA CA 93003 952552582 501(C)(3) 5000 FMV FOR THE BENEFIT OF RON HELUS - BOARDERLINE SHOOTING MAKE-A-WISH TRI-COUNTIES FOUNDATION 4110 MISSION OAKS BLVD STE F CAMARILLO CA 93012 770098671 501(C)(3) 7500 FMV HELP STRENGTHEN AND EMPOWER CHILDREN BATTLING CRITICAL ILLNESSES INTERFACE CHILDREN AND FAMILY SERVICES 4001 MISSION OAKS BLVD STE 1 CAMARILLO CA 93012 952944459 501(C)(3) 5000 FMV PROVIDE PROGRAMS TO STRENGTHEN CHILDREN, FAMILIES AND COMMUNITIES TO BE SAFE, HEALTHY AND THRIVING VENTURA COUNTY COMMUNITY FOUNDATION 4001 MISSION OAK BLVD STE A CAMARILLO CA 93012 770165029 501(C)(3) 12750 FMV CONEJO VALLEY WOOLSEY FIRE FUND 8 VCCU EMPLOYEES - DONATIONS DUE TO WOLSEY FIRE IMPACT 68 79500 X X X 0 1 0 JOSEPH SCHROEDER PRESIDENT/CEO 956626 0 91070 0 5853 0 26144 0 23895 0 1103588 0 0 0 LINDA SIM CFO 222997 0 28706 0 5282 0 12573 0 33670 0 303228 0 0 0 GAVIN BRADLEY COO 222557 0 29106 0 1058 0 12372 0 34870 0 299963 0 0 0 LINDA ROSSI CAO 222851 0 28969 0 9441 0 12732 0 12216 0 286209 0 0 0 CLINTON LOVINGER VP MEMBER SERVICES 138780 0 11721 0 7016 0 7620 0 18324 0 183461 0 0 0 APRIL REMNANT VP DELIVERY SERVICES 117275 0 10908 0 3037 0 6496 0 22572 0 160288 0 0 0 MARK ROSS VP IT 168341 0 14536 0 3496 0 9100 0 33670 0 229143 0 0 0 EDMOND SAHAKIAN VP MTG AND BUSINESS 169843 0 14153 0 1446 0 8999 0 18324 0 212765 0 0 0 GINA O'CALLAGHAN FINANCIAL ADVISOR 39061 0 141482 0 85 0 5687 0 15126 0 201441 0 0 0 DAVID KANONGATAA FINANCIAL ADVISOR 38264 0 170520 0 976 0 6586 0 15126 0 231472 0 0 0 LINDA MUSE-TABATA SR HOME LOAN SPECIALIST 35635 0 148390 0 1306 0 5580 0 5250 0 196161 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS ENTERED INTO A SPLIT-DOLLAR AGREEMENT WITH A MEMBER OF THE EXECUTIVE MANAGEMENT TEAM. UNDER THE ARRANGEMENT, THE CREDIT UNION MAKES A LOAN TO THE EXECUTIVE EQUAL TO THE LIFE INSURANCE POLICY PREMIUMS. THE EXECUTIVE ASSIGNS THE INSURANCE POLICY TO THE CREDIT UNION AS COLLATERAL FOR REPAYING THE PREMIUMS AND BORROWS FROM THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE CREDIT UNION IS REPAID FROM THE POLICY'S DEATH PROCEEDS. INTEREST ACCRUES ON THE LOANS AT THE APPLICABLE FEDERAL RATE AT THE TIME OF THE ADVANCE. THE INTEREST IS REPORTED AS TAXABLE INCOME TO THE EXECUTIVE IN THE YEAR EARNED. ANY PRINCIPAL OR INTEREST NOT REPAID UNDER THE ARRANGEMENTS IS TAXABLE TO THE EXECUTIVE. THE CREDIT UNION CONTRIBUTES TO A 457(F) PLAN AS ADDITIONAL RETIREMENT BENEFITS FOR THE CEO. THE 457(F) PLAN IS FULLY FUNDED AND NO FURTHER ACCRUALS WILL BE RECORDED. THE CREDIT UNION OFFERS A SERP AS PART OF THE CEO'S 10-YEAR EMPLOYMENT CONTRACT. THE PURPOSE OF THE PLAN IS TO PROVIDE ADDITIONAL INCENTIVE FOR THE CEO TO REMAIN WITH THE CREDIT UNION. THE CREDIT UNION CONTRIBUTES 2% OF COMPENSATION TO A 457(B) PLAN ON TOP OF ALL OTHER RETIREMENT PLANS FOR SENIOR MANAGEMENT. THE FOLLOWING IS A LIST OF CURRENT PARTICIPANTS AND THE CONTRIBUTIONS MADE IN 2018: JOE SCHROEDER - $18,150 LINDA SIM - $5,029 GAVIN BRADLEY - $4,949 LINDA ROSSI - $5,093 MARK ROSS - $3,640 EDMOND SAHAKIAN - $3,599 CLINTON LOVINGER - $3,048 APRIL REMNANT - $2,598 JOSEPH SCHROEDER OFFICER HOME LOAN X 595000 437096 0 1 1 JOSEPH SCHROEDER OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 7200000 7786293 0 1 1 8223389 FORM 990, PART VI, SECTION A, LINE 6 VENTURA COUNTY 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. VENTURA COUNTY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF VENTURA COUNTY 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 ADVANCED MONTHLY BOARD PACKAGES, INCLUDING FINANCIAL STATEMENTS AND OTHER RELEVANT INFORMATION ARE DISTRIBUTED TO THE BOARD MONTHLY, IN ADVANCE OF THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS ANY EXCEPTION ON A PERIODIC BASIS PURSUANT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND PROVIDES ANY RESOLUTION WHERE NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCE DEPT. GATHERS RELEVANT SALARY INFORMATION COMPARABLE WITHIN INDUSTRY AND MARKET STANDARDS. THEREAFTER, APPROPRIATE RECOMMENDATIONS ARE PROVIDED TO THE CEO FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE ITS FINANCIAL STATEMENTS IN EVERY BRANCH LOCATION ON A MONTHLY BASIS AND PROVIDES ANY GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY UPON REQUEST. THE FOUNDATION OF VENTURA COUNTY CREDIT UNION 2575 VISTA DEL MAR DRIVE SUITE 100 VENTURA CA 93001 462578478 COLLECTION OF CHARITABLE DONATIONS FROM EMPLOYEES AND GENERAL PUBLIC CA 501(C)(3) LINE 7 VENTURA COUNTY CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 THE FOUNDATION OF VENTURA COUNTY CREDIT UNION B ACTUAL AMOUNT BELOW THRESHOLD