2016-11-03T17:51:04-05:00 2015-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2015-01-01 952513485 FIRST ENTERTAINMENT CREDIT UNION FKA CREDIT UNIONS IN THE STATE OF CA FIRS 8888003328 6735 FOREST LAWN DRIVE NO 300 HOLLYWOOD CA 90068 ADDIE ALLISON VP FINANCE 8888003328 2016-11-03 1 VALENTINO CREUS CPA P01054153 8189549700 2015 2017-02-10 21:41:12Z CHARLES BRUEN 6735 FOREST LAWN DRIVE NO 300 HOLLYWOOD CA 90068 50610601 0 X WWW.FIRSTENT.ORG X CREDIT UNION 1967 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 239 18 973718 -66162 0 0 36081886 39467541 7029807 7535810 202278 227575 43313971 47230926 19693 19788 0 0 14895663 16148743 0 0 0 18762567 23255473 33677923 39424004 9636048 7806922 1146150819 1237809965 1035909251 1121527370 110241568 116282595 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 MONEY MARKET ACCOUNTS, TERM SAVINGS CERTIFICATES, AND IRAS. 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. 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 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 29174 0 1 239 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X LAN BOUGHTON CONTROLLER 3238454447 6735 FOREST LAWN DRIVE SUITE 300 HOLLYWOOD CA 90068 GARI ANN DOUGLAS BOARD CHAIR 1.00 X 0 0 0 MICHAEL EDWARDS BOARD VICE-CHAIR 1.00 X 0 0 0 IRWIN JACOBSON TREASURER 1.00 X 0 0 0 DENNIS TANGE SECRETARY 1.00 X 0 0 0 ANDREW BENSON BOARD MEMBER 1.00 X 0 0 0 LUCY WANDER BOARD MEMBER 1.00 X 0 0 0 STEPHEN RAYNES BOARD MEMBER 1.00 X 0 0 0 AKIHIKO WASHINGTON BOARD MEMBER 1.00 X 0 0 0 HOWARD WELINSKY BOARD MEMBER 1.00 X 0 0 0 CHARLES BRUEN PRESIDENT/CEO 40.00 X 496344 0 46940 LISA LANDT SENIOR VP/CFO 40.00 X 349884 0 46743 ROY MACKINNON VP MARKETING (FORMER) 40.00 X 324145 0 52552 JANET PHILLIPS CIO 40.00 X 226814 0 12626 JAMES MARCELLINO VP OPERATIONS 40.00 X 222478 0 39063 MICHELLE FRATTOLIN VP HUMAN RESOURCES 40.00 X 214595 0 41883 MICHAEL KIM VP LENDING/CLO 40.00 X 195623 0 28817 ADDIE ALLISON VP FINANCE 40.00 X 165473 0 15658 RICHARD CADENA VP BRANCHES 40.00 X 162442 0 35250 JASON THOMAS VP TREASURY 40.00 X 114714 0 11162 KAREN WILLIS DIRECTOR OF CONSUMER LENDI 40.00 X 139638 0 23591 LAN BOUGHTON CONTROLLER 40.00 X 134016 0 32050 KAARON L WILLIAMS DIRECTOR OF REAL ESTATE 40.00 X 133877 0 27775 DAN KINNE DIRECTOR OF INFORMATION SERVICES 40.00 X 132745 0 45261 NAS BIRMINGHAM DIRECTOR CORPORATE PROJECT 40.00 X 127031 0 32462 3139819 0 491833 22 0 1 0 INNOVATIVE FUNDING SERVICES 14205 BURNET RD SUITE 400 AUSTIN TX 78728 LOAN SERVICING 586426 SACCO GROUP 2256 SOUTH 186TH STREET OMAHA NE 68130 CONSULTING 503926 TURNER WARREN HWANG & CONRAD AC 100 N 1ST STREET SUITE 202 BURBANK CA 91502 ACCOUNTING SERVICES 217352 KW KAMPE III PO BOX 220217 SANTA CLARITA CA 91322 LEGAL SERVICES 103488 4 INTEREST ON LOANS 522100 26187607 26187607 OTHER OPERATING INCOME 522100 8037303 8006339 30964 FEE INCOME 522100 5242631 4687754 554877 39467541 7500245 7112368 387877 3028620 386620 3026558 353117 2062 33503 35565 35565 OTHER NON-OPERATING IN 522100 227575 227575 227575 47230926 46257208 973718 0 19788 3139819 9825372 815357 1442632 925563 2570 188195 46050 874272 1431260 6621306 947867 2008886 452458 4227619 1097486 259452 PROVISION FOR LOAN & LE 2457281 LOAN SERVICING EXPENSE 1086257 MISCELLANEOUS EXPENSES 1031767 ATM EXPENSES 412902 109845 39424004 6267493 5945595 65931184 87706659 1478504 2676009 22669074 14195004 9221594 8474070 380371593 402251781 662775833 708215227 20104618 22540624 1146150819 1237809965 10699843 10660595 1025209408 1110866775 1035909251 1121527370 X 0 0 0 0 110241568 116282595 110241568 116282595 1146150819 1237809965 X 7806922 -1832211 66316 X X 0 1 X 1 0 2000 2000 2000 1 CALIFORNIA CREDIT UNION LEAGUE -PAC 1201 K STREET 1050 SACRAMENTO CA 95814 940357265 2000 1097000 1097000 9281014 4883153 4397861 5957836 4303544 1654292 6333224 5008307 1324917 8474070 DEPOSITS IN COMMERCIAL BANKS 248000 F LOANS AND LEASES 686778347 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 9822880 F ALL OTHER INVESTMENTS 7398000 F LOANS TO AND INVESTMENTS IN NATURAL PERSON CU 3968000 F 708215227 MEMBER DEPOSITS 1110866775 1110866775 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" TO BE SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED SEPTEMBER 30, 2015, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. FOR THE YEAR ENDED SEPTEMBER 30, 2015, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. 1 CHILDREN MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 6952 FMV TO PROVIDE MEDICAL CARE TO CHILDREN 1 0 X X X X 1 1 0 CHARLES BRUEN PRESIDENT/CEO 377433 0 75700 0 43211 0 20462 0 26478 0 543284 0 0 0 LISA LANDT SENIOR VP/CFO 274774 0 54000 0 21110 0 20462 0 26281 0 396627 0 0 0 ROY MACKINNON VP MARKETING (FORMER) 138535 0 8500 0 177110 0 18122 0 34430 0 376697 0 0 0 JANET PHILLIPS CIO 190472 0 32400 0 3942 0 11137 0 1489 0 239440 0 0 0 JAMES MARCELLINO VP OPERATIONS 176196 0 30900 0 15382 0 17283 0 21780 0 261541 0 0 0 MICHELLE FRATTOLIN VP HUMAN RESOURCES 172309 0 34400 0 7886 0 16559 0 25324 0 256478 0 0 0 MICHAEL KIM VP LENDING/CLO 173923 0 18900 0 2800 0 6069 0 22748 0 224440 0 0 0 ADDIE ALLISON VP FINANCE 151148 0 9000 0 5325 0 4776 0 10882 0 181131 0 0 0 RICHARD CADENA VP BRANCHES 151719 0 0 0 10723 0 2518 0 32732 0 197692 0 0 0 KAREN WILLIS DIRECTOR OF CONSUMER LENDI 117212 0 5215 0 17211 0 10342 0 13249 0 163229 0 0 0 LAN BOUGHTON CONTROLLER 124469 0 1700 0 7847 0 10635 0 21415 0 166066 0 0 0 KAARON L WILLIAMS DIRECTOR OF REAL ESTATE 119477 0 5113 0 9287 0 10540 0 17235 0 161652 0 0 0 DAN KINNE DIRECTOR OF INFORMATION SERVICES 118633 0 3400 0 10712 0 10709 0 34552 0 178006 0 0 0 NAS BIRMINGHAM DIRECTOR CORPORATE PROJECT 109877 0 5600 0 11554 0 9609 0 22853 0 159493 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. MICHELLE FRATTOLIN, MICHAEL KIM, LISA LANDT, JAMES MARCELLINO, RICHARD CADENA, CHARLES BRUEN, AND JANET PHILLIPS WERE PARTCIPANTS AS OF DECEMBER 31, 2015. ROY MACKINNON RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $168,364.56. 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 11 THE 990 IS PRESENTED TO THE BOARD DURING ONE OF ITS BOARD MEETINGS. THE APPROVAL FOR FILING IS THEN DOCUMENTED IN THE BOARD MINUTES. 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 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 XI, LINE 9: CHANGE IN OTHER COMPREHENSIVE INCOME ADJUSTMENT TO UNDIVIDED EARNINGS 66,316. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. MEDIA BENEFITS CORP 6735 FOREST LAWN DR SUITE 300 HOLLYWOOD CA 90068 953974685 SALES CA FIRST ENT CU C 365914 112218 1.00000 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MEDIA BENEFITS CORPORATION D 400000 AMOUNT OF APPROVED CREDIT LINE MEDIA BENEFITS CORPORATION D 355000 BALANCE DRAWN FROM CREDIT LINE