2016-08-15T15:51:22-05:00 2015-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2015-01-01 950949175 FIREFIGHTERS FIRST CREDIT UNION FIRE 3232541700 815 COLORADO BLVD LOS ANGELES CA 90041 DIXIE ABRAMIAN COO 3232541700 2016-08-10 1 GERALD B KISSELL P00092658 6123324300 2015 2016-12-15 16:53:06Z MICHAEL MASTRO 815 COLORADO BLVD LOS ANGELES CA 90041 44774645 0 X WWW.FIREFIGHTERSFIRSTCU.ORG X 1935 CA TO PROVIDE FINANCIAL SERVICES EXCLUSIVELY TO FIREFIGHTERS THROUGHOUT THE STATE OF CALIFORNIA. WE STRIVE TO OFFER THE BEST RATES AND SERVICES TO OUR MEMBERSHIP. 15 15 168 18 113237 25034 0 0 40414631 42911534 1335474 956466 1257937 574633 43008042 44442633 10000 12500 7469174 7076089 13445821 14096471 0 0 0 15329726 17314589 36254721 38499649 6753321 5942984 956095537 1056273793 856553148 950718464 99542389 105555329 X TO PROVIDE FINANCIAL SERVICES EXCLUSIVELY TO FIREFIGHTERS THROUGHOUT THE STATE OF CALIFORNIA. WE STRIVE TO OFFER THE BEST RATES AND SERVICES TO OUR MEMBERSHIP. 0 0 FIREFIGHTERS FIRST CREDIT UNION PROVIDES A VAST ARRAY OF REAL ESTATE LOANS AND SERVICES, WHICH INCLUDES 1ST TRUST DEEDS, 2ND'S, HOME EQUITY, CONSTRUCTION, LAND LOANS AND NON-OWNER OCCUPIED LOANS. IN ADDITION, WE SERVICE REAL ESTATE LOANS SOLD ON THE SECONDARY MARKET. AS OF DECEMBER 31, 2015, WE SERVICE OVER 4,070 LOANS TOTALING $678 MILLION. THROUGH OUR REAL ESTATE SERVICES, OUR EXPERT STAFF WILL ASSIST YOU FROM BEGINNING TO END INCLUDING THE ASSISTANCE OF THE DECISION OF PURCHASING A HOME. IN ADDITION, OUR STAFF WILL REVIEW ALL THE LOAN OPTIONS TO ENSURE MEMBERS ARE OBTAINING THE LOAN THAT BEST FITS THEIR NEEDS. WE SERVICE ALL REAL ESTATE LOANS WHETHER THEY ARE KEPT IN-HOUSE OR SOLD ON THE SECONDARY MARKET. TO ENSURE THE PROCESSING OF THE LOAN IS SMOOTH AND ACCURATE, WE ALSO COMPLETE ESCROW SERVICES IN-HOUSE FOR RE-FINANCES. FIREFIGHTERS FIRST CREDIT UNION THROUGH FIREHOUSE FINANCIAL OFFERS ADDITIONAL INVESTMENT OPTIONS ABOVE OUR TRADITIONAL PRODUCTS AND SERVICES. WE HAVE LICENSED FINANCIAL ADVISORS AVAILABLE THROUGH CFS* OUR BROKER-DEALER, TO ASSIST OUR MEMBERS WITH THEIR FINANCIAL NEEDS FROM COLLEGE EDUCATION TO RETIREMENT. AS OF DECEMBER 31, 2015, WE HAVE OVER 1,500 HOUSEHOLD ACCOUNTS WITH OVER $172 MILLION IN ASSETS UNDER MANAGEMENT. MEMBERS ARE WELCOME TO COME IN AND SPEAK WITH OUR FINANCIAL ADVISORS. WE OFFER A COMPLIMENTARY NO OBLIGATION CONSULTATION AND ACCOUNT PROFILE. *NON-DEPOSIT INVESTMENT PRODUCTS AND SERVICES OFFERED THROUGH CUSO FINANCIAL SERVICES, L.P. (CFS), A REGISTERED BROKER/DEALER (MEMBER FINRA/SIPC) AND SEC REGISTERED INVESTMENT ADVISOR. PRODUCTS OFFERED THROUGH CFS: ARE NOT INSURED BY AMERICAN SHARE INSURANCE (ASI) OR OTHERWISE FEDERALLY INSURED, ARE NOT GUARANTEES OR OBLIGATIONS OF THE CREDIT UNION, AND MAY INVOLVE INVESTMENT RISK INCLUDING POSSIBLE LOSS OF PRINCIPAL. INVESTMENT REPRESENTATIVES ARE REGISTERED THROUGH CFS. FIREFIGHTERS FIRST CREDIT UNION HAS CONTRACTED WITH CFS TO MAKE NON-DEPOSIT INVESTMENT PRODUCTS AND SERVICES AVAILABLE TO ITS MEMBERS. FIREFIGHTERS FIRST CREDIT UNION OFFERS A FULL SUITE OF BUSINESS SERVICES FROM SAVINGS, CHECKING, BUSINESS LOANS AND COMMERCIAL REAL ESTATE LOANS. WE HAVE PROFESSIONAL STAFF TO ASSIST MEMBERS WITH THEIR BUSINESS NEEDS. ADDITIONAL SERVICES SUCH AS PAYROLL AND CREDIT CARD PROCESSING ARE ALSO AVAILABLE. OUR CHECKING AND BUSINESS VISA ACCOUNTS OFFER REWARD POINTS WHEN USING THE CHECK CARD OR VISA CARD. AS OF DECEMBER 31, 2015, WE SERVICE 826 LOANS TOTALING OVER $90.6 MILLION. IN MARCH 2010, FIREFIGHTERS FIRST CREDIT UNION PARTNERED WITH AN INSURANCE COMPANY TO CREATE "FIREFIGHTERS INSURANCE SERVICES" (FIS). THIS SERVICE PROVIDES MEMBERS WITH COMPETITIVE RATES FOR AUTO, HOMEOWNERS, EARTHQUAKE AND LIFE INSURANCE. THROUGH FIS WE ALSO OFFER INSURANCE COVERAGE TO LARGE ORGANIZATIONS SUCH AS OTHER CREDIT UNIONS. AS OF DECEMBER 31, 2015, THE TOTAL PREMIUMNS FOR FIS IS $6.2 MILLION. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 19847 0 1 168 1 1 1 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X CINDY IWAMOTO 3235502201 815 COLORADO BLVD LOS ANGELES CA 90041 GERALD HORWEDEL CHAIR 30.00 X X 2451 0 0 SCOTT GRIBBONS 1ST VICE CHAIR 10.00 X X 683 0 0 JOHN BUCK 2ND VICE CHAIR 10.00 X X 3745 0 0 JOHN M DODD TREASURER 10.00 X X 838 0 0 WAYNE SCHUETZ SECRETARY 10.00 X X 0 0 0 LAWRENCE METZ DIRECTOR 5.00 X 1965 0 0 GREG PORTER DIRECTOR 5.00 X 0 0 0 VINCE CARDINALE DIRECTOR 5.00 X 1267 0 0 RICHARD FRAWLEY DIRECTOR 5.00 X 2157 0 0 RONALD JACKSON DIRECTOR 5.00 X 639 0 0 JOHN CERMAK DIRECTOR 5.00 X 613 0 0 PAT ENGEL DIRECTOR 5.00 X 0 0 0 SHELDON MCKOWAN DIRECTOR 5.00 X 1095 0 0 JOHN DUCA DIRECTOR 5.00 X 605 0 0 MARV WILLIAMS DIRECTOR 5.00 X 726 0 0 MICHAEL MASTRO CEO 55.00 X 594757 0 399468 DIXIE ABRAMIAN EVP 60.00 X 366268 0 39835 BRADLEY MILLER CFO 60.00 X 169340 0 11544 CYNTHIA IWAMOTO VP CONTROLLER 50.00 X 191442 0 32725 KELLY RAMSAY SVP MARKETING 60.00 X 231713 0 15817 MATTHEW MITCHELL SVP LENDING/OPERATIONS 60.00 X 274454 0 25493 DYAN MASHMAN SVP IT 60.00 X 226746 0 16873 MARY STEUDLE SVP HR 60.00 X 194313 0 18208 JASON TORREY-PAYNE FINANCIAL ADVISOR 45.00 X 367638 0 41986 NATALIE CROSBY DIRECTOR MEMBER EXPERIENCE 40.00 X 161121 0 10819 SUNDEEP JAIN VP LENDING 50.00 X 176236 0 15477 ANDY TRAN DIRECTOR TECHNICAL SERVICES 50.00 X 139098 0 13807 CHRISTINA MEYERS DIRECTOR IT/OPERATIONS 50.00 X 131098 0 13516 WENDY NOWLEN OPERATIONS/CARD SERVICE MANAGER 50.00 X 113759 0 7860 3354767 0 663428 21 0 1 0 DIGITAL INSIGHT 1300 SEAPORT BLVD SUITE 300 REDWOOD CITY CA 94063 HOME BANKING 820453 FISERV 255 FISERV DR BROOKFIELD WI 53045 SYSTEM CORE PROCESSOR 529353 IT PARTNERS 6939 S HARL AVE TEMPE AZ 85283 IT SYSTEM MAINTENANCE 514069 A T & T 208 SOUTH AKARD ST DALLAS TX 75202 PHONE SYSTEM 327096 KOLLNER GROUP 15332 ANTIOCH ST PMB 335 PACIFIC PALISADES CA 90272 CONSULTANT 272811 24 LOAN INCOME 522100 34529193 34529193 INTERCHANGE INCOME 522100 3568727 3568727 OTHER OPERATING INCOME 522100 1914771 1914771 FEE INCOME 522100 1172519 1059282 113237 REAL ESTATE FEE INCOME 522100 1090667 1090667 635657 635657 42911534 1015269 1015269 800633 226000 574633 574633 574633 40945 6264 104012 2000 -63067 4264 -58803 -58803 44442633 42798297 113237 1531099 X 12500 7076089 3077717 8636061 88449 1412948 881296 221485 71246 38405 4655365 1203405 2681561 1092096 577113 419058 2626636 189052 LOAN SERVICING EXPENSE 2183862 PROVISION FOR LOAN/SHAR 754368 MISCELLANEOUS EXPENSE 421682 HUMAN RESOURCE/TRAINING 179255 38499649 2765806 3187921 2965000 2964814 2056570 810910123 887790672 1474752 1301403 39509176 20908061 19577823 18601115 25062627 3377303 59247992 116523284 34091600 20470525 956095537 1056273793 633920 1081812 1251505 40000000 37500000 815471336 911333039 856553148 950718464 X 0 0 0 0 99542389 105555329 99542389 105555329 956095537 1056273793 5942984 76692 -6736 0 X 0 1 X 1 0 0 1 X 2653197 2653197 22066551 9875320 12191231 8900781 6717544 2183237 5888647 4315197 1573450 18601115 OTHER INSTITUTION INVESTMENTS 93926468 C ALLOYA INVESTMENTS 22596816 C 116523284 MEMBER SHARE DEPOSITS 911333039 911333039 PART IV, LINE 2B: FIREFIGHTERS FIRST CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. 1 EDUCATIONAL SCHOLARSHIPS 5 12500 PART I, LINE 2: EACH YEAR FIREFIGHTERS FIRST CREDIT UNION OFFERS SCHOLARSHIP AWARDS. APPLICANTS ARE REQUIRED TO SUBMIT INFORMATION REGARDING THEIR CURRENT GPA, ANY VOLUNTEER WORK, COMMUNITY ACTIVITIES, AWARDS, ETC. IN ADDITION, EACH APPLICANT IS REQUIRED TO SUBMIT AN ESSAY ON A TOPIC THAT THE CREDIT UNION CHOOSES. THE ESSAYS ARE REVIWED BY THE QUALITY COMMITTEE AND THE TOP TEN ARE SENT FOR FURTHER REVIEW BY A SELECTED GROUP OF BOARD MEMBERS. THE TOP FIVE OVERALL SCORES WERE SELECTED AS RECIPIENTS IN 2015. X 1 1 X X X 1 1 0 MICHAEL MASTRO CEO 497756 0 88756 0 8245 0 384394 0 22904 0 1002055 0 0 0 DIXIE ABRAMIAN EVP 289578 0 64907 0 11783 0 18550 0 31503 0 416321 0 0 0 BRADLEY MILLER CFO 168214 0 0 0 1126 0 7319 0 7254 0 183913 0 0 0 CYNTHIA IWAMOTO VP CONTROLLER 157143 0 29610 0 4689 0 11515 0 31217 0 234174 0 0 0 KELLY RAMSAY SVP MARKETING 195734 0 34913 0 1066 0 13697 0 9876 0 255286 0 0 0 MATTHEW MITCHELL SVP LENDING/OPERATIONS 219542 0 53360 0 1552 0 15474 0 20296 0 310224 0 0 0 DYAN MASHMAN SVP IT 190053 0 34712 0 1981 0 5781 0 17304 0 249831 0 0 0 MARY STEUDLE SVP HR 162998 0 30035 0 1280 0 11530 0 11489 0 217332 0 0 0 JASON TORREY-PAYNE FINANCIAL ADVISOR 365604 0 1000 0 1034 0 18550 0 24285 0 410473 0 0 0 NATALIE CROSBY DIRECTOR MEMBER EXPERIENCE 97498 0 21856 0 41767 0 5590 0 5585 0 172296 0 0 0 SUNDEEP JAIN VP LENDING 144250 0 30831 0 1155 0 10084 0 6082 0 192402 0 0 0 ANDY TRAN DIRECTOR TECHNICAL SERVICES 131572 0 6750 0 776 0 8440 0 5945 0 153483 0 0 0 PART I, LINE 1A FIREFIGHTERS FIRST CREDIT UNION PROVIDES TRAVEL FOR COMPANIONS. THE COST OF COMPANION TRAVEL IS TREATED AS COMPENSATION TO THE APPROPRIATE EMPLOYEE OR MEMBER OF THE BOARD. PART I, LINES 4A-B MICHAEL MASTRO, CHIEF EXECUTIVE OFFICER, PARTICIPATES IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS IN 2015. PART I, LINES 4A-B NATALIE CROSBY RECEIVED SEVERANCE PAY IN 2015 IN THE AMOUNT OF $41,670. 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 UPON APPROVAL FROM THE BOARD OF DIRECTORS. 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 11 FORM 990 WILL BE REVIEWED BY THE SVP OF FINANCE AND CEO AND ALSO PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS ALL EMPLOYEES AND BOARD OF DIRECTORS COMPLETE AND SIGN AN INDIVIDUAL DISCLOSURE INDICATING ANY POSSIBLE CONFLICT OF INTEREST. THIS IS THEN REVIEWED BY HUMAN RESOURCES, INTERNAL AUDIT, AND THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS HUMAN RESOURCES COMPLETES AN ANALYSIS OF ALL POSITIONS UTILIZING DATA FROM THIRD PARTY SURVEYS AND PRESENTS THE COMPENSATION TO THE CEO. IN ADDITION, ON OCCASION, THE CREDIT UNION WILL USE AN INDEPENDENT THIRD PARTY TO CONDUCT A DETAILED REVIEW FOR OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE CREDIT UNION ALSO SENDS QUARTERLY CALL REPORTS DATA ON THEIR FINANCIALS TO THE REGULATORY AGENCY, NCUA AND ASI. FORM 990, PART IX, LINE 11G ATM SERVICES 533,107. DEPOSITORY SERVICES 2,707,185. CONSULTANTS 1,213,027. OTHER/MISC. 202,046. LA FIRE CU HOLDINGS LLC 815 COLORADO BLVD LOS ANGELES CA 90041 320206848 HOLDING COMPANY CA 344600 FIREFIGHTERS FIRST CREDIT UNION FIRE FAMILY FOUNDATION 815 COLORADO BLVD LOS ANGELES CA 90041 364613248 FUNDRAISING CA 501(C)(3) 170(B)(1)(A)(VI) FIREFIGHTERS FIRST CREDIT UNION 1 FIREFIGHTER INSURANCE SERVICES 815 COLORADO BLVD LOS ANGELES CA 90041 271428085 INSURANCE SERVICES CA N/A C 418561 218654 0.51000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 FIRE FAMILY FOUNDATION L 91041 ARMS LENGTH