2025-11-13T17:38:34-06:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 952513485 FIRST ENTERTAINMENT CREDIT UNION FKA CREDIT UNIONS IN THE STATE OF CA FIRS 8888003328 6735 FOREST LAWN DRIVE 300 HOLLYWOOD CA 90068 MAG WANGSUWANA CFO 8888003328 2025-11-12 1 1 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z STEPHEN OWEN 6735 FOREST LAWN DRIVE 300 HOLLYWOOD CA 90068 119112203 0 X WWW.FIRSTENT.ORG X CREDIT UNION 1967 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 11 11 277 18 66776 0 0 0 86560177 96168025 13369422 12387056 369282 628173 100298881 109183254 47644 61469 0 0 34211157 32757791 0 0 0 53396587 69933536 87655388 102752796 12643493 6430458 2209711281 2105153292 2058787845 1937469519 150923436 167683773 X FIRST ENTERTAINMENT 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, FIRST ENTERTAINMENT 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 FIRST ENTERTAINMENT CREDIT UNION OFFERS ITS MEMBERS A VARIETY OF SAVINGS PROGRAMS INCLUDING CHECKING ACCOUNTS, MONEY MARKET ACCOUNTS, TERM SAVINGS CERTIFICATES, AND IRAS. ADDITIONALLY, THE CREDIT UNION OFFERS BUSINESS CHECKING AND MONEY MARKET ACCOUNTS. FIRST ENTERTAINMENT CREDIT UNION MEMBERS HAVE ACCESS TO A VARIETY OF LOAN PRODUCTS INCLUDING PERSONAL AND AUTO LOANS AND A COMPREHENSIVE PORTFOLIO OF REAL ESTATE LOANS. ADDITIONALLY, THE CREDIT UNION OFFERS A COMPLETE SUITE OF COMMERCIAL REAL ESTATE AS WELL AS COMMERCIAL AND INDUSTRIAL LOANS TO SERVICE BUSINESS LENDING NEEDS. FIRST ENTERTAINMENT CREDIT UNION MEMBERS ENJOY FREE ONLINE ACCOUNT ACCESS AS WELL AS A VARIETY OF ADDITIONAL MEMBER-ONLY BENEFITS. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 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 1 0 0 1 40106 0 1 277 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CA X X ADDIE ALLISON SVPCXO 3234364203 6735 FOREST LAWN DRIVE SUITE 300 HOLLYWOOD CA 90068 PATRICK WALTERS BOARD CHAIR 1.00 X 0 0 0 STEPHEN RAYNES BOARD VICE-CHAIR 1.00 X 0 0 0 LAURA VALAN SECRETARY 1.00 X 0 0 0 IRWIN JACOBSON TREASURER 1.00 X 0 0 0 HOWARD WELINSKY BOARD MEMBER 1.00 X 0 0 0 ELENA CAMPBELL-MARTINEZ BOARD MEMBER 1.00 X 0 0 0 SAKAE MANNING BOARD MEMBER 1.00 X 0 0 0 JEFF MIRKIN BOARD MEMBER 1.00 X 0 0 0 MICHAEL EDWARDS BOARD MEMBER 1.00 X 0 0 0 TED SCHILOWITZ BOARD MEMBER 1.00 X 0 0 0 JAMES HERR BOARD MEMBER 1.00 X 0 0 0 STEPHEN OWEN PRESIDENT/CEO 40.00 X 885785 0 36160 KENNETH KRAMER FORMER SVP/CFO 40.00 X 494996 0 42468 JONATHAN PARTRIDGE EVP/CHIEF STRATEGY OFFICER 40.00 X 427676 0 18743 JENNIFER JORDAN FORMER SVP/CHIEF RISK OFFICER 40.00 X 407895 0 7162 ADRIANA ALLISON SVP/CHIEF EXPERIENCE OFFICER 40.00 X 362691 0 70148 JANET KWON-GASPARD SVP/CHIEF PEOPLE OFFICER 40.00 X 332719 0 41607 JEFFREY J PLATT SVP/CHIEF INFORMATION OFFICER 40.00 X 269098 0 12559 MOLLY HOLCOMB FORMER SVP/CHIEF MARKETING OFFICER 40.00 X 199767 0 7605 SHANNON LEITCH VP COMMERCIAL & REAL ESTATE LENDING 40.00 X 278875 0 6968 LISA RAUDA-COOK VP MEMBER EXPERIENCE 40.00 X 269833 0 33561 DANIEL ARITA VP STRATEGY 40.00 X 261105 0 20272 IRINA ABRAMOVA VP INFORMATION TECHNOLOGY 40.00 X 244932 0 25538 PAUL PARTIDA VP ENGINEERING 40.00 X 234607 0 10258 4669979 0 333049 73 0 1 0 BLUESPACE INTERIORS 23303 LA PALMA AVE YORBA LINDA CA 92887 INTERIOR DESIGN CONSULTANTS 294464 TTEC DIGITAL LLC PO BOX 856660 MINNEAPOLIS MN 554856660 IT AND COMMUNCATIONS SERVICES 267534 STYSKAL WIESE & MELCHIONE LLP 550 NORTH BRAND BLVD SUITE 550 GLENDALE CA 91203 LEGAL SERVICES 251659 SAPPHIRE TRAIL LLC PO BOX 330081 NORTHGLENN CO 80233 MARKETING SERVICES 216562 SALTEE CO LLC 257 GULL CIRCLE PONTE VEDRA FL 32082 ADVISORY CONSULTING SERVICES 170750 7 INTEREST ON LOANS 522100 79024900 79024900 OTHER OPERATING INCOME 522100 11337469 11325185 12284 FEE INCOME 522100 5805656 5751164 54492 96168025 12724667 12724667 9591338 9928949 -337611 -337611 -337611 OTHER NON-INTEREST INC 522100 481043 481043 GAIN ON SALES OF REO 522100 138015 138015 GAIN ON SALES OF LOANS 522100 9115 9115 628173 109183254 109116478 66776 0 51469 10000 4669979 21754760 1699914 2858116 1775022 244768 80891 1932673 1276749 9690762 3114819 1654115 1479190 35820390 1135038 151533 PROVISION FOR LOAN & LE 9378504 MISCELLANEOUS EXPENSES 1683781 LOAN SERVICING EXPENSE 1650861 ATM EXPENSES 379401 260061 102752796 16626100 9938471 56250924 85033468 16541788 23586262 2747338 4260958 25003751 18962068 5671979 6041683 494761281 432619078 1573438750 1488841955 43673121 54831417 2209711281 2105153292 19844080 13362406 2038943765 1924107113 2058787845 1937469519 X 0 0 0 0 150923436 167683773 150923436 167683773 2209711281 2105153292 6430458 10329879 0 X X 0 1 X 1 0 13500 13500 13500 1 CALIFORNIA CREDIT UNION LEAGUE PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 12000 ACTBLUE CHARITIES INC 366 SUMMER STREET SOMERVILLE MA 02144 473739141 1500 1097000 1097000 9257854 6902920 2354934 7414310 5988604 1425706 7234587 6070544 1164043 6041683 LOANS AND LEASES 1457326855 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 16697000 F ALL OTHER INVESTMENTS 13931700 F MORTGAGE SERVICING ASSETS 886400 F 1488841955 MEMBER DEPOSITS 1723686323 BORROWINGS 200000000 ALLOWANCE FOR CREDIT LOSSES 420790 1924107113 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 MARCH 31, 2024, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. 0 CHILDREN'S MIRACLE NETWORK HOSPITAL 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 25930 0 FMV TO PROVIDE THE BEST CARE FOR KIDS IN CHILDREN'S HOSPITALS 1 0 AWARDS FOR WINNERS OF THE FINE CUT FESTIVAL OF FILMS 4 10000 FMV PART I, LINE 2: THE SELECTION PROCESS IS DONE BY PBS SOCAL AS PART OF THE FINE CUT FESTIVAL OF FILMS. FIRST ENTERTAINMENT CU SPONSORED FOUR $2,500 PRIZES FOR THE WINNERS. X X X X 1 1 0 STEPHEN OWEN PRESIDENT/CEO 716363 0 150000 0 19422 0 6160 0 30000 0 921945 0 0 0 KENNETH KRAMER FORMER SVP/CFO 268282 0 21254 0 205460 0 8550 0 33918 0 537464 0 0 0 JONATHAN PARTRIDGE EVP/CHIEF STRATEGY OFFICER 367697 0 51003 0 8976 0 0 0 18743 0 446419 0 0 0 JENNIFER JORDAN FORMER SVP/CHIEF RISK OFFICER 153167 0 16496 0 238232 0 7162 0 0 0 415057 0 0 0 ADRIANA ALLISON SVP/CHIEF EXPERIENCE OFFICER 302061 0 20318 0 40312 0 8550 0 61598 0 432839 0 0 0 JANET KWON-GASPARD SVP/CHIEF PEOPLE OFFICER 289080 0 17645 0 25994 0 8407 0 33200 0 374326 0 0 0 JEFFREY J PLATT SVP/CHIEF INFORMATION OFFICER 198116 0 0 0 70982 0 5144 0 7415 0 281657 0 0 0 MOLLY HOLCOMB FORMER SVP/CHIEF MARKETING OFFICER 154873 0 17985 0 26909 0 6017 0 1588 0 207372 0 0 0 SHANNON LEITCH VP COMMERCIAL & REAL ESTATE LENDING 246656 0 11854 0 20365 0 3777 0 3191 0 285843 0 0 0 LISA RAUDA-COOK VP MEMBER EXPERIENCE 228044 0 27248 0 14541 0 8262 0 25299 0 303394 0 0 0 DANIEL ARITA VP STRATEGY 229195 0 28732 0 3178 0 8005 0 12267 0 281377 0 0 0 IRINA ABRAMOVA VP INFORMATION TECHNOLOGY 226618 0 10846 0 7468 0 4660 0 20878 0 270470 0 0 0 PAUL PARTIDA VP ENGINEERING 209746 0 10705 0 14156 0 7068 0 3190 0 244865 0 0 0 PART I, LINES 4A-B THE CREDIT UNION OFFERS A NONQUALIFIED RETIREMENT, 457(F) PLAN. THE PLAN IS UNFUNDED, THEREFORE BENEFITS ARE PAID FROM THE GENERAL ASSETS OF THE CREDIT UNION. JONATHAN PARTRIDGE,KENNETH KRAMER,ADRIANA ALLISON,JANET KWON-GASPARD AND JENNIFER JORDAN WERE PARTICIPANTS AS OF DECEMBER 31, 2024. THE CREDIT UNION ENTERED INTO SPLIT-DOLLAR AGREEMENTS WITH CREDIT UNION EXECUTIVES. UNDER THESE ARRANGEMENTS, THE CREDIT UNION MADE LOANS TO THE EXECUTIVES EQUAL TO THE LIFE INSURANCE POLICIES' PREMIUMS. THE EXECUTIVES ASSIGN THE INSURANCE POLICIES TO THE CREDIT UNION AS COLLATERAL FOR REPAYING THE PREMIUMS AND MAY BORROW FROM THE POLICIES TO SUPPLEMENT RETIREMENT INCOME. THE CREDIT UNION IS REPAID FROM THE POLICIES' DEATH PROCEEDS UNLESS EARLIER TERMINATED. INTEREST ACCRUES ON THE LOANS AT THE APPLICABLE FEDERAL RATE AT THE TIME OF ADVANCE. ANY PRINCIPAL OR INTEREST NOT REPAID UNDER THE ARRANGEMENTS IS TAXABLE TO THE EXECUTIVES. THE FOLLOWING EMPLOYEES RECEIVED SEVERANCE PAYMENTS DURING THE YEAR: KENNETH KRAMER $71,509 JENNIFER JORDAN $139,803 STEPHEN OWEN OFFICER MORTGAGE X 2259996 2131462 0 1 1 ADDIE ALLISON KEY EMPLOYEE HELOC X 200000 28276 0 1 1 ADDIE ALLISON KEY EMPLOYEE MORTGAGE X 606000 425561 0 1 1 STEPHEN OWEN OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 13300000 14185866 0 1 1 JONATHAN PARTRIDGE KEY EMPLOYEE FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 6600000 6815097 0 1 1 23586262 FORM 990, PART VI, SECTION A, LINE 6 FIRST ENTERTAINMENT 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. FIRST ENTERTAINMENT CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF FIRST ENTERTAINMENT 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 ITS 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 990 IS REVIEWED BY THE BOARD EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES, BOARD AND VOLUNTEERS ARE REQUIRED TO REPORT KNOWN CONFLICTS OF INTEREST. EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY AT THE TIME OF HIRE AND ANNUALLY AT THE BEGINNING OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONDUCTS AN EXECUTIVE COMMITTEE SESSION TO DETERMINE SALARY OF THE PRESIDENT/CEO. FIRST ENTERTAINMENT CREDIT UNION ALSO HAS A COMPENSATION SYSTEM THAT COMPARES SALARIES BASED ON OTHER CREDIT UNIONS, THEIR ASSET SIZE AND GEOGRAPHIC LOCATION. FIRST ENTERTAINMENT CREDIT UNION USES RANGES FOR ALL OF THEIR POSITIONS. EACH POSITION IS THEN CAREFULLY REVIEWED. FORM 990 PART VI SECTION B LINE 15B: THE CEO AND ESC EVALUATES EACH SENIOR EXECUTIVE POSITION IN ACCORDANCE WITH FIRST ENTERTAINMENT CREDIT UNION'S COMPENSATION GUIDELINES, THE COMPENSATION SYSTEM AND BASED ON THEIR OVERALL PERFORMANCE AS ASSESSED DURING THE FORMAL EVALUATION PROCESS WHICH IS CONDUCTED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 FIRST ENTERTAINMENT CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FIRST ENTERTAINMENT FOUNDATION 6735 FOREST LAWN DR HOLLYWOOD CA 90068 990815800 COLLECTION OF CHARITABLE DONATIONS FROM EMPLOYEES AND GENERAL PUBLIC CA 501(C)(3) PF FIRST ENTERTAINMENT CREDIT UNION 1 MEDIA BENEFITS CORP 6735 FOREST LAWN DR SUITE 300 HOLLYWOOD CA 90068 953974685 SALES CA FIRST ENT CU C 957481 316583 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0