2025-11-11T14:45:29-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-03-29 951722855 SESLOC CREDIT UNION SESL 8055431816 3855 BROAD STREET SAN LUIS OBISPO CA 93401 SHERRI PARKINSON SVP/CFO 8055431816 2025-11-11 0 AUBREY CLEGG P01076395 3052328272 2025-11-11 2024 2025-03-06 01:10:19Z X MIKE QUAMMA 3855 BROAD STREET SAN LUIS OBISPO CA 93401 45448682 0 X WWW.SESLOC.ORG X 2024 CA CREDIT UNION FINANCIAL SERVICES. 7 7 214 10 73195 0 0 40470662 4342563 415017 45228242 115560 0 16757213 0 0 23968370 40841143 4387099 1159597245 1143863296 1067115455 1041067725 92481790 102795571 X SESLOC IS A NOT-FOR-PROFIT FINANCIAL INSTITUTION ON CALIFORNIA'S CENTRAL COAST SINCE 1942, NOW OPERATING WITH SIX BRANCHES IN SAN LUIS OBISPO, PASO ROBLES, ATASCADERO, CAL POLY, ARROYO GRANDE AND SANTA MARIA. OUR EMPLOYEES PROVIDE VALUABLE FINANCIAL AND EDUCATIONAL SERVICES TO NEARLY 55,000 MEMBERS. OUR MEMBERS ARE LOCAL, SO MONEY STAYS LOCAL, AND SESLOC STAYS COMMUNITY-FOCUSED. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBER FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21749 0 1 214 1 1 1 0 0 0 0 0 1 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X SHERRI PARKINSON 8055431816 3855 BROAD STREET SAN LUIS OBISPO CA 93401 THOMAS LEBENS CHAIRPERSON 4.00 X 0 0 0 DR GARY HOSKINS VICE CHAIRPERSON 2.00 X 0 0 0 ANTHONY CANGELOSI BOARD FINANCIAL OFFICER 2.00 X 0 0 0 DEREK JOHNSON SECRETARY 2.00 X 0 0 0 CHARLENE ROSALES DIRECTOR 2.00 X 0 0 0 DR ALDEN SHIERS DIRECTOR 2.00 X 0 0 0 BARBARA MELVIN DIRECTOR (RETIRED 5/24) 2.00 X 0 0 0 JASON FRANCIA DIRECTOR 2.00 X 0 0 0 MICHAEL QUAMMA PRESIDENT/CEO 40.00 X 354070 0 154920 KELLI BRIGGS EVP, CHIEF OPERATING OFFICER 40.00 X 262000 0 45101 SHERRI PARKINSON SVP, CHIEF FINANCIAL OFFICER 40.00 X 170096 0 21533 GERIANNE LACHANCE PRESIDENT/CEO 40.00 X 1040740 0 13221 KENNETH LONG SVP, CHIEF RISK OFFICER 40.00 X 189720 0 46731 SHAWN MULQUEENEY SVP, CHIEF INFORMATION OFFICER 40.00 X 194139 0 41811 JOSE MANUEL CERVANTES SVP CONSUMER/MTG. LENDING 40.00 X 176799 0 46298 CLARENCE CABREROS VP, MEMBER BUSINESS LOANS 40.00 X 165455 0 41605 CHERISE LONG MORTGAGE LOAN OFFICER 40.00 X 185609 0 21846 HELEN SHIPPEE VP, COMPLIANCE 40.00 X 140220 0 19577 HOLLY BROWN SVP, MEMBER EXPERIENCE 40.00 X 146220 0 7907 DEVON GOETZ SVP, HUMAN RESOURCES/TALENT DEVELOPMENT 40.00 X 147780 0 53021 BARBARA HUGIE VP, MORTGAGE OPERATIONS 40.00 X 130749 0 27079 3303597 0 540650 20 0 1 0 CU COOPERATIVE SYSTEMS LLC 4950 AMON CARTER BLVD FORT WORTH TX 76155 PROCESSING 1148562 LUMIN DIGITAL LLC 560 CARILLON PKWY SAINT PETERSBURG FL 33716 ON-LINE BANKING 950502 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742233 CREDIT CARD PROCESSING 816014 THE TOUCHPOINT GROUP LLC 230 CAMINO ESCONDIDO ARROYO GRANDE CA 93420 MKTG/ADVERTISING/SPONSORSHIP 731147 AMPLIFI LOYALTY SOLUTIONS LLC 1240 E DIEHL RD SUITE 400 NAPERVILLE IL 605634802 CARD REWARDS 635195 34 INTEREST ON LOANS 522100 34520705 34520705 FEE INCOME 522100 3682880 3682880 INTERCHANGE INCOME 522100 2190685 2190685 FINANCE AND INSURANCE 520000 76392 76392 40470662 4342563 4342563 221167 220440 727 727 3924 -3197 NON-INTEREST INCOME 522100 414290 414290 414290 45228242 45155047 73195 0 X 97750 17810 2964239 9598895 409765 2881312 903002 121428 164285 773194 999734 2379282 2938327 555147 68729 129442 8786802 1300090 176025 PROVISION FOR LOAN LOSS 2100920 REWARD POINTS EXPENSE 1568224 LOAN SERVICING 827626 DEBIT CARD PROGRAM EXPE 747559 331556 40841143 12494618 12278742 41986931 95583385 71611 67368 849617830 842058250 1991358 2336756 29065870 13405592 16773765 15660278 208236890 145829766 7513600 7513600 20910642 22535151 1159597245 1143863296 17407874 16585087 588393 1586756 35000000 1014119188 1022895882 1067115455 1041067725 X 0 0 0 0 92481790 102795571 92481790 102795571 1159597245 1143863296 4387099 5926682 0 X X 0 1 X 1 0 1000 1000 1000 1 ACT BLUE - ROBERT RIVAS PO BOX 441146 SOMERVILLE MA 02144 202517748 1000 0 1 X 2320000 2320000 13215814 3237643 9978171 2983780 2176950 806830 10546276 7990999 2555277 15660278 CERTIFICATES OF DEPOSITS 280006260 IRA SHARES 18389274 MONEY MARKET 18577548 REGULAR SHARES 469698862 SHARE DRAFTS 236223938 1022895882 X 45448682 0 45448682 -220440 -220440 45228242 41061583 220440 220440 40841143 0 40841143 PART IV, LINE 2B: THE CREDIT UNION COLLECTS (ON A MONTHLY BASIS) PAYMENT FROM THEIR MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INLCUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS -220,440. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN 220,440. THE AUDITED FINANCIALS 0 JACK'S HELPING HAND PO BOX 14718 SAN LUIS OBISPO CA 93406 501(C)(3) 14550 0 SUPPORT FOR INCLUSIVE IMAGINATION PARK FOR ABLE- AND DISABLED CHILDREN. SAN LUIS OBISPO REPERATORY THEATRE PO BOX 122 SAN LUIS OBISPO CA 93406 501(C)(3) 10000 0 SUPPORT FOR THE ACADEMY OF CREATIVE THEATRE FOR YOUTH. CALM 10 ENOS DR SUITE A SANTA MARIA CA 93454 501(C)(3) 10000 0 SUPPORT TO PROVIDE PROGRAMS AND SERVICES TO PREVENT CHILDHOOD TRAMA IN SANTA MARIA VALLEY. SCRIPPS HOWARD FUND 312 WALNUT ST STE 2800 CINCINNATI OH 45202 501(C)(3) 10000 0 PROVIDE FUNDS FOR CHILDREN IN LOCAL TITLE I SCHOOLS TO BUILD HOME LIBRARIES. FOUNDATION FOR THE PERFORMING ARTS CENTER PO BOX 1137 SAN LUIS OBISPO CA 93401 501(C)(3) 18500 0 PROVIDE FUNDS FOR THE SCHOOL MATINEE PROGRAM SO LOCAL SCHOOL CHILDREN CAN ATTEND LIVE ARTS PERFORMANCES. SAN LUIS OBISPO MUSEUM OF ART 1010 BROAD ST SAN LUIS OBISPO CA 93401 501(C)(3) 10000 0 PROVIDE FUNDS FOR FREE FAMILY ART DAY EACH SECOND SATURDAY OF EACH MONTH. SANTA MARIA ELKS RODEO & PARADE 2325 SKYWAY DRIVE SUITE H SANTA MARIA CA 93455 501(C)(3) 10600 0 SUPPORT THEIR MISSION OF RAISING FUNDS TO SUPPORT OTHER NON-PROFITS IN THE SANTA MARIA VALLEY. SANTA MARIA VALLEY YMCA 3400 SKYWAY DRIVE SANTA MARIA CA 93455 501(C)(3) 6600 0 SUPPORT FOR YOUTH AND FAMILY PROGRAMS PROVIDED AT VERY LOW OR NO COST. ALZHEIMER'S ASSOCIATION 71 ZACA LANE 110 SAN LUIS OBISPO CA 93401 501(C)(3) 7500 0 SUPPORT FOR PROGRAMS TO PROVIDE SERVICES TO CAREGIVERS AND THOSE DIAGNOSED WITH ALZHEIMER'S AND DEMENTIA. 9 0 EDUCATIONAL GRANTS 38 17810 FORM 990, SCH I, PART IV INDIVIDUALS APPLY FOR UP TO $500 GRANTS TO FUND PROJECT FOR K-12 EDUCATION PROJECTS. THESE APPLICATIONS ARE REVIEWED BY THE EDUCATION GRANTS COMMITTEE MONTHLY AND AWARDED BASED ON MERIT OF THE PROPOSALS. THE EDUCATION GRANTS COMMITTEE INCLUDES BOTH EMPLOYEES OF THE CREDIT UNION AND OUTSIDE VOLUNTEERS. X 1 1 X X X 0 1 0 GERIANNE LACHANCE PRESIDENT/CEO 266129 0 209160 0 565451 0 8130 0 5091 0 1053961 0 0 0 MICHAEL QUAMMA PRESIDENT/CEO 333668 0 436 0 19966 0 121290 0 33630 0 508990 0 0 0 KELLI BRIGGS EVP, CHIEF OPERATING OFFICER 238860 0 0 0 23140 0 21039 0 24062 0 307101 0 0 0 KENNETH LONG SVP, CHIEF RISK OFFICER 183580 0 0 0 6140 0 13222 0 33509 0 236451 0 0 0 SHAWN MULQUEENEY SVP, CHIEF INFORMATION OFFICER 194139 0 0 0 0 0 11890 0 29921 0 235950 0 0 0 JOSE MANUEL CERVANTES SVP CONSUMER/MTG. LENDING 168380 0 0 0 8419 0 12852 0 33446 0 223097 0 0 0 CHERISE LONG MORTGAGE LOAN OFFICER 184224 0 0 0 1385 0 11137 0 10709 0 207455 0 0 0 CLARENCE CABREROS VP, MEMBER BUSINESS LOANS 156600 0 325 0 8530 0 8256 0 33349 0 207060 0 0 0 DEVON GOETZ SVP, HUMAN RESOURCES/TALENT DEVELOPM 147780 0 0 0 0 0 29252 0 23769 0 200801 0 0 0 SHERRI PARKINSON SVP, CHIEF FINANCIAL OFFICER 170096 0 0 0 0 0 10206 0 11327 0 191629 0 0 0 HELEN SHIPPEE VP, COMPLIANCE 140220 0 0 0 0 0 8413 0 11164 0 159797 0 0 0 BARBARA HUGIE VP, MORTGAGE OPERATIONS 116660 0 90 0 13999 0 15994 0 11085 0 157828 0 0 0 HOLLY BROWN SVP, MEMBER EXPERIENCE 146220 0 0 0 0 0 7274 0 633 0 154127 0 0 0 PART I, LINE 4B THE CREDIT UNION IMPLEMENTED A 457F PLAN FOR CERTAIN EMPLOYEES. THE AMOUNT OF FUTURE BENEFIT ACCRUED BY THE CREDIT UNION DURING 2024 FOR EACH PARTICIPANT IS REPORTED AS PART OF "OTHER COMPENSATION" REPORTED IN PART VII, COLUMN F AND IN SCHEDULE J, PART II, COLUMN C, UNDER 'RETIREMENT AND OTHER DEFERRED COMPENSATION." A LIST OF THE PARTICIPANTS AND THE ACCRUED BENEFIT FOR EACH IS PROVIDED BELOW. MICHAEL QUAMMA: $93,551 DURING 2024 THE FOLLOWING PARTICIPANTS RECEIVED 457F BENEFIT PAYOUTS: GERIANNE LACHANCE: $488,790 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 SVP, CFO IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN AND USES THE CPA FIRM TO HELP COMPLETE THE FINANCIAL ASPECT OF THE RETURN. THE RETURN IS PRESENTED TO THE CREDIT UNION'S COO AS WELL AS THE PRESIDENT/CEO. ONCE ALL HAVE COMPLETED THEIR REVIEW AND ANY CORRECTIONS ARE COMPLETED, THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY AND ANY DISCLOSURES ARE INVESTIGATED AND PROPERLY HANDLED/MONITORED DEPENDING ON WHAT THE CONFLICT OF INTEREST IS. BOARD MEMBERS ATTEST ON THEIR APPLICATION EACH TIME THEY ARE UP FOR RE-ELECTION (GENERALLY EVERY 3 YEARS) THAT THEY UNDERSTAND THEY NEED TO DISCLOSE ANY CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 WE USE AN INDEPENDENT VENDOR AND SOFTWARE SOLUTION TO MARKET PRICE AND BENCHMARK SALARIES ON AN ONGOING BASIS. IN ADDITION TO THE ONGOING REVIEW PROTOCOL, EVERY THREE YEARS, WE HAVE AN INDEPENDENT CONSULTANT COME IN AND CONDUCT A SALARY ASSESSMENT AND REGRADING, IF NECESSARY, FOR ALL POSITIONS. THE INDEPENDENT BOARD APPROVES THE CEO'S COMPENSATION AND ALSO APPROVES ANNUALLY, THE TOTAL COMPENSATION FOR THE ENTITY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G ADVISORY SERVICES- MARKETING 466,655. ARMORED COURIER SERVICE 129,718. PERSONNEL RECRUITING 113,510. OTHER 63,311. FORM 990, PART IX, LINE 24E FRAUD EXPENSES 433,792. CREDIT CARD PROGRAM EXPENSE 196,113. NON-OPERATING -298,349. FORM 990, PART XII, LINE 2: THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR CYCLE (I.E., JUNE 30TH); HOWEVER, THE RETURN IS PREPARED ON A CALENDAR YEAR BASIS. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.