2015-11-11T19:29:03-06:00 2014-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2014-01-01 941278209 SF POLICE CREDIT UNION SFPO 4155643800 2550 IRVING STREET SAN FRANCISCO CA 94122 EDDIE YOUNG CEO 4155643800 2015-11-11 1 VALENTINO CREUS CPA P01054153 8189549700 2014 2016-02-25 16:41:14Z EDDIE YOUNG 2550 IRVING STREET SAN FRANCISCO CA 94122 85440707 0 X WWW.SFPCU.ORG X CREDIT UNION 1953 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 122 10 210592 -764479 0 0 23161786 25208210 6167100 5257132 234869 1211166 29563755 31676508 8367 14948 0 0 9958891 9853941 0 0 0 14805880 13861333 24773138 23730222 4790617 7946286 730140495 782682701 632915187 673160711 97225308 109521990 X S.F. POLICE 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, S.F. POLICE 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 ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING A HIGH-YIELD CHECKING ACCOUNT PRODUCT AND A PREMIUM-RATE MONEY MARKET SAVINGS PRODUCT. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 34074 0 1 122 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 0 0 1 1 0 CA X X EDDIE YOUNG CEO 4155643800 2550 IRVING STREET SAN FRANCISCO CA 94122 GLENN R SYLVESTER CHAIRMAN 1.00 X 0 0 0 ROBERT PUTS VICE CHAIR 1.00 X 0 0 0 JAMES HENNESSY SECRETARY 1.00 X 0 0 0 CROCE A CASCIATO BOARD MEMBER 1.00 X 0 0 0 MIKE HEBEL BOARD MEMBER 1.00 X 0 0 0 JOHN GOLDBERG BOARD MEMBER 1.00 X 0 0 0 STEPHEN TACCHINI BOARD MEMBER 1.00 X 0 0 0 FRANK HEDLEY SUPV CMTE CHAIR 1.00 X 0 0 0 BARBARA BREWSTER SUPV CMTE MEMBER 1.00 X 0 0 0 CARL KOEHLER SUPV CMTE MEMBER 1.00 X 0 0 0 EDDIE YOUNG CEO 40.00 X 406767 0 32272 MICHAEL BARE CFO 40.00 X 35326 0 4748 ROSALYN I REILLY COO (FORMER) 40.00 X 360697 0 32359 RATNENDU S MUKHERJEE SVP IT/CIO & CISO 40.00 X 28465 0 2809 ROSE GREEN CIO (FORMER) 40.00 X 27693 0 1064 MICHAEL MASTERS IT DIRECTOR 40.00 X 166526 0 21548 VICTORIA S GONG CONTROLLER 40.00 X 150709 0 20671 DEIRDRE S CLOHERTY VP HUMAN RESOURCES 40.00 X 148235 0 18810 DARLENE HONG VP BUSINESS DEVELOPMENT 40.00 X 143307 0 21569 SHAMIMA RAZZAK VP OF ACCT. SERVICES 40.00 X 132853 0 18652 1600578 0 174502 20 0 1 0 PSCU FINANCIAL SERVICES 19825 NORTH 7TH STREET PHOENIX AZ 85024 VISA PROCESSOR 1076326 CDW PO BOX 75723 CHICAGO IL 60675 COMPUTER MAINTENANCE 658834 CO-OP FINANCIAL SERVICES 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 DEBIT CARD PROCESSOR 582760 ACI WORLDWIDE CORPPM SYSTEM PO BOX 459 CHAPIN SC 29036 SYSTEM SUPPORT 402976 INFO IMAGE 14141 JEFFERSON DRIVE MENLO PARK CA 94025 MAILING HOUSE 310957 8 INTEREST ON LOANS 522100 21020292 21020292 OTHER OPERATING INCOME 522100 2886637 2864388 22249 FEE INCOME 522100 1301281 1112938 188343 25208210 4909626 4909626 54111705 53764199 347506 347506 347506 PROVISION FOR LOAN & LEASE 522100 1171576 1171576 OTHER NON-OPERATING INCOME 522100 39590 39590 1211166 31676508 31465916 210592 0 14948 1600578 6499136 551884 575235 627108 555361 126910 959972 994462 3678369 955282 1046719 175851 2261995 964065 40947 LOAN SERVICING EXPENSE 1288468 LOSS ON OREOS 516418 MISC OPERATING EXPENSE 225664 OPERATING FEES 70850 23730222 855113 1158043 33760092 67805351 1604764 975635 1003420 903553 22597653 9105618 11894740 13492035 238013743 194231174 430637508 493227138 201246 167175 12169869 10722597 730140495 782682701 2858674 6733792 630056513 666426919 632915187 673160711 X 0 0 0 0 97225308 109521990 97225308 109521990 730140495 782682701 7946286 4350396 0 X X 0 1 X 1 0 7000 7000 7000 1 CCUL PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 940357265 7000 6155905 6155905 9341899 4438706 4903193 5957248 4666912 1290336 1142601 1142601 13492035 DEPOSITS IN COMMERCIAL BANKS 22652000 C NET LOANS & LEASES 456046401 F INVESTMENTS IN NATURAL PERSON CUS 1494000 C NCUA SHARE INSURANCE CAPITALIZATION DEPOSITS 5910665 C MEMBERSHIP CAPITAL 600000 C ALL OTHER INVESTMENTS 6524072 F 493227138 TOTAL SHARES AND DEPOSITS 666426919 666426919 X 29988514 0 29988514 1687994 1687994 31676508 22042228 0 22042228 1687994 1687994 23730222 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 DECEMBER 31, 2014, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY FEDERAL TAX AUTHORITIES FOR YEARS BEFORE 2011 AND STATE TAX AUTHORITIES FOR YEARS BEFORE 2010. PART XI, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN & LEASE LOSSES RECLASSIFIED BETWEEN REVENUE AND EXPENSE LOSS ON DISPOSITION OF FIXED ASSETS RECLASSIFIED BETWEEN REVENUE AND EXPENSE PART XII, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN & LEASE ITEMS RECLASSIFIED BETWEEN REVENUE AND EXPENSE LOSS ON DISPOSITION OF FIXED ASSETS RECLASSIFIED BETWEEN REVENUE AND EXPENSE 1 BART POLICE MANAGERS ASSOCIATION 800 MADISON STREET OAKLAND CA 94604 322411608 501(C)(5) 5000 FMV TO ENSURE A SAFE ENVIRONMENT WITHIN TRANSIT SYSTEM, REDUCE CRIME THROUGH POLICE PRESENCE 0 1 X X 0 0 0 EDDIE YOUNG CEO 393368 0 6337 0 7062 0 20800 0 11472 0 439039 0 0 0 ROSALYN I REILLY COO (FORMER) 353421 0 4228 0 3048 0 22361 0 9998 0 393056 0 0 0 MICHAEL MASTERS IT DIRECTOR 163208 0 3115 0 203 0 12817 0 8731 0 188074 0 0 0 VICTORIA S GONG CONTROLLER 146563 0 3096 0 1050 0 11452 0 9219 0 171380 0 0 0 DEIRDRE S CLOHERTY VP HUMAN RESOURCES 145010 0 3072 0 153 0 11059 0 7751 0 167045 0 0 0 DARLENE HONG VP BUSINESS DEVELOPMENT 139902 0 3157 0 248 0 11207 0 10362 0 164876 0 0 0 SHAMIMA RAZZAK VP OF ACCT. SERVICES 129772 0 2935 0 146 0 10369 0 8283 0 151505 0 0 0 GLENN R SYLVESTER DIRECTOR EQUITY LINE X 289000 49663 0 1 1 ROSALYN REILLY OFFICER VISA X 12100 4324 0 1 1 ROSALYN REILLY OFFICER MORTGAGE X 630000 629744 0 1 1 VICTORIA GONG HCE EQUITY LINE X 200000 76592 0 0 1 GLENN R SYLVESTER DIRECTOR AUTO X 13268 5804 0 0 1 CROCE AL CASCIATO DIRECTOR AUTO X 20319 6079 0 1 1 MICHAEL MASTERS HCE VISA X 15000 14676 0 1 1 JOHN GOLDBERG DIRECTOR MORTGAGE X 151200 127671 0 0 1 JOHN GOLDBERG DIRECTOR EQUITY LINE X 100000 61082 0 0 1 975635 FORM 990, PART VI, SECTION A, LINE 6 S.F. POLICE 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. S. F. POLICE CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF S.F. POLICE 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 11 THE COMPLETED FORM 990 WILL BE REVIEWED BY MANAGEMENT FOR ACCURACY AND A COPY OF THE 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE RECEIVES, REVIEWS AND PROVIDES A SIGNED ACKNOWLEDGEMENT OF THE EMPLOYEE HANDBOOK UPON BEING HIRED. THE EMPLOYEE HANDBOOK INCLUDES A CONFLICT OF INTEREST POLICY. DECISIONS MADE AT THE EXECUTIVE AND DEPARTMENTAL LEVELS CONSIDER CONFLICT OF INTEREST POLICIES. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY THE HR DEPARTMENT CONDUCTS A FULL ANALYSIS UTILIZING 1-3 CREDIT UNION INDUSTRY SPECIFIC SALARY SURVEYS. THIS DATA IS THEN TRENDED UP TO LEAD THE MARKET. THE MARKET DATA IS THEN COMPARED TO INTERNAL COMPENSATION STRUCTURES. SPECIAL ATTENTION IS GIVEN TO GREEN AND RED CIRCLE SITUATIONS. INTERNAL PAY EQUITY ANALYSIS IS ALSO CONDUCTED. HR THEN PREPARES A MERIT INCREASE MATRIX BASED UPON PROJECTED BUDGETING AND PRESENTS TO CEO, COO AND CFO. ONCE AGREED UPON, THE ANALYSIS IS PRESENTED TO THE BOD. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE BUILDING LOBBY AND MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SEE ATTACHED FORM 3115 FOR S.F. POLICE CREDIT UNION (94-1278209).