2014-11-14T17:22:27-06:00 2013-12-31 Grant Thornton LLP 515 S Flower Street 7th Floor Los Angeles CA 90071 990 2013-01-01 952023588 Altura Credit Union (FKA Riverside County's Credit Union) % MARK PEDERSEN EVP AND CFO ALTU 9515715395 2847 Campus Parkway Suite Riverside CA 92507 MARK PEDERSEN EVP, Chief Financial Officer 9515715395 2014-11-06 true Rosemarie Brown P01278077 9515715395 2013 2015-11-30 17:44:51Z Mark Hawkins 2847 Campus Parkway Riverside CA 92507 43757018 false X www.alturacu.com X Credit Union 1957 CA A cooperative, organized for the purpose of promoting thrift and savings among its members. 9 9 278 9 228687 -226077 0 0 44995497 40553219 -1326295 2696051 0 45874 43669202 43295144 5099 0 0 0 11567114 19214824 0 0 0 14689395 12629260 26261608 31844084 17407594 11451060 656371729 679790540 588490078 601595092 67881651 78195448 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 funds in order to improve their economic and social conditions. As a cooperative, Altura 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. false false Altura Credit Union offers traditional banking services, including checking accounts, savings accounts, and investment services (retirement accounts, stocks, bonds, and mutual funds) for personal and business purposes. In 2010, it introduced mobile banking through a phone application available for iPhones, Android phones, and Blackberry phones. Members can have 24/7 account access, check their account and loan balances, transfer funds within an account, pay their credit card and loan within an account, locate branches and ATM machines, and have access to other member services. Altura Credit Union offers a wide range line of credit program to its members that includes vehicle loans, home loans, personal loans, and credit cards for vehicles. The organization offers financing or refinancing for new or used automobiles with terms up to 84 months. It also offers financing for recreational vehicles, boats, jet skis, and motorcycles. The organization offered traditional fixed and adjustable rate mortgages in 2013. In 2013, it specifically sought to assist first-time homebuyers through a variety of efforts, including FHA home loans and a down payment assistance program. The organization offers two types of personal loans: signature loan and secured loan. A signature loan provides up to $15,000 to its members for any purpose. A secured loan provides loans to its members that is secured by the funds in the member ssavings account or share certificate. A secured loan has terms up to 10 years or up to the maturity date for a share certificate. The organization also offers a variety of credit cards including Visa Platinum Preferred, Visa Platinum, and Visa Classic. Altura Credit Union offered free workshops in 2013 to its members. These workshops covered the following topics: securing your financial future, social security, and retirement planning. It also offered free online courses on different topics enabling its members to explore different aspects of financial education at their own pace. Classes included: Money Management, Checking Account Management, The Psychology of Spending, The Road to Home Ownership, Financial First Aid, Finances for College Students, and Buying a Vehicle. false false false false false false false false false true false false false true true false true false false false false false false false false false false false true false true false false false false false false false false false true true true false true 9887 0 true 278 true true true false false false false false X 9 9 false false false false true true true true true false true true true true true true true true true false false CA X MARK PEDERSEN EVP AND CFO 9515715395 2847 CAMPUS PARKWAY Riverside CA 92507 Mark Balys Chairman 2.0 0.0 X X 0 0 0 Ofelia Valdez-Yeager Vice Chairman 2.0 0.0 X X 0 0 0 Jacqueline Hall Treasurer 2.0 0.0 X X 0 0 0 Gloria Perez Secretary 2.0 0.0 X X 0 0 0 Jerry Rivera Immediate Past Chairman 2.0 0.0 X 0 0 0 Bob Gray Director 2.0 1.0 X 0 0 0 Dr Ron Pardee Director 2.0 0.0 X 0 0 0 Dr Linda Wisher Director 2.0 0.0 X 0 0 0 Keith Downs Director 2.0 0.0 X 0 0 0 Mark Hawkins Chief Executive Officer 40.0 1.0 X 6179026 0 16267 Jennifer Binkley EVP, Chief Operations Officer 40.0 0.0 X 242063 0 31479 Mark Pedersen EVP, Chief Financial Officer 40.0 0.0 X 240271 0 33338 Suzie Kisslan SVP, Chief Lending Officer 40.0 0.0 X 218951 0 13658 Erin Fuller SVP, Human Resources 40.0 1.0 X 169573 0 15675 Erik Grier VP, Technology 40.0 0.0 X 180183 0 9360 Moritz Wohanka VP, Finance 40.0 0.0 X 141941 0 11368 Walter Burrows Comm. Loan Portfolio Risk Mgr 40.0 0.0 X 138955 0 5531 Kathy Thayer VP, Controller 40.0 0.0 X 138665 0 12621 Debora Sigler VP, Internal Auditor 40.0 0.0 X 135606 0 22322 7785234 0 171619 11 false true false Financial Technology Solutions Intl PO Box 379 PASADENA CA 91102 ATM Services 2212803 ReconTrust Company 1757 Tapo Canyon Rd SIMI VALLEY CA 93063 Fin Mortgage Svcs 1231434 Business Data Inc PO Box 6081 INGLEWOOD CA 90312 Document Solutions 561246 Mythos Technology Inc 43402 Business Park Drive TEMECULA CA 92590 Technology Services 403327 ATT PO Box 5019 CAROL STREAM IL 601975019 Telephone Service 425029 17 0 INTEREST ON LOANS 522100 20170356 20170356 FEE INCOME 522100 20382863 20154176 228687 40553219 1578760 1578760 0 0 45874 45874 0 45874 45874 1579165 461874 1117291 1117291 1117291 0 0 0 0 43295144 40324532 228687 2741925 0 0 0 0 7160301 0 10326466 173391 636039 918627 0 215752 107814 0 0 0 1390039 1008562 1369957 0 0 1754733 137016 0 67751 35854 0 1684645 279519 LOAN SERVICING EXPENSES 3162890 MEMBER'S DIVIDEND EXPENSE 1357712 REPAIRS & MAINTENANCE 803734 PROVISION FOR LOAN LOSSES -4578593 3831875 31844084 X 10075026 9887162 179811081 172626232 0 0 0 0 2092839 1655297 0 0 354185590 351893558 0 0 1096085 1108427 54092369 29784132 22983550 24308237 58853268 102235209 0 0 19923681 13064921 0 0 7350609 3011497 656371729 679790540 5487217 11645297 0 0 0 0 0 0 0 0 0 0 0 584251 0 0 583002861 589365544 588490078 601595092 X 0 0 0 0 67881651 78195448 67881651 78195448 656371729 679790540 11451060 -1137263 X false true X true false 4280571 4280571 27484609 10670824 16813785 2602658 1849173 753485 19724531 17264135 2460396 24308237 0 SHARES AND DEPOSITS 589365544 589365544 X FIN 48 (ASC 740) Footnote Schedule D, Part X, Line 2: The Credit Union is exempt, by statute, from federal and state income taxes. The FASB issued new guidance on how accounting for income taxes in FASB ASC Topic 740, Income Taxes, which 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 by the Credit Union which must 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. As of and for the years ended December 31, 2013 and December 31, 2012, management has determined that there are no material uncertain tax positions requiring recognition in the financial statements. X false false X X X X false true false Mark Hawkins Chief Executive Officer 414136 0 30809 0 5734081 0 10200 0 6067 0 6195293 0 0 0 Jennifer Binkley EVP, Chief Operations Officer 206352 0 16399 0 19312 0 4570 0 26909 0 273542 0 0 0 Mark Pedersen EVP, Chief Financial Officer 212456 0 16389 0 11426 0 9286 0 24052 0 273609 0 0 0 Suzie Kisslan SVP, Chief Lending Officer 186694 0 14380 0 17877 0 8919 0 4739 0 232609 0 0 0 Erin Fuller SVP, Human Resources 150764 0 11176 0 7633 0 6912 0 8763 0 185248 0 0 0 Erik Grier VP, Technology 165946 0 11445 0 2792 0 7270 0 2090 0 189543 0 0 0 Moritz Wohanka VP, Finance 129931 0 5581 0 6429 0 5279 0 6089 0 153309 0 0 0 Kathy Thayer VP, Controller 122759 0 9058 0 6848 0 4861 0 7760 0 151286 0 0 0 Debora Sigler VP, Internal Auditor 123593 0 8900 0 3113 0 5652 0 16670 0 157928 0 0 0 Social Club Dues Schedule J, Part I, Line 1a: Mark Hawkins was reimbursed $3,016 for social club dues. The amount was included in compensation on Schedule J, Part II, Column b(iii). Nonqualified Retirement Plan Schedule J, Part II, Line 4b: Mark Hawkins, CEO, received a lump sum payment under a newly established IRC Section 457(f) non-qualified deferred compensation arrangement. The amount was actuarially determined to reflect renumeration had the plan been in existence for the entire tenue (over 20 years) of his employment with the Credit Union. An independent compensation consultant was hired to determine the reasonableness of the amount when cmpared to similar credit unions. The amount was approved by the Board as well as the NUCA. Mark Balys Director/Officer Auto Loan X 25040 19489 false true true Ofelia V Yeaber Director/Officer Auto Loan X 14220 11327 false true true Bob Gray Director Credit Card X 21530 143 false true true Jacqueline Hall Director/Officer Auto Loan X 39121 37916 false true true Jacqueline Hall Director/Officer Credit Card X 2462 869 false true true Mark Hawkins Officer Auto Loan X 38297 24922 false true true Mark Hawkins Officer Credit Card X 14898 120 false true true Suzie Kisslan Key Employee Credit Card X 15000 2386 false true true Suzie Kisslan Key Employee Credit Card X 17325 14085 false true true Ron Pardee Director Auto Loan X 51591 31839 false true true Gloria Perez Director/Officer Auto Loan X 47627 41231 false true true Jerry Rivera Director Auto Loan X 23450 20594 false true true Jerry Rivera Director Credit Card X 14821 2451 false true true Linda Wisher Director Credit Card X 6535 107 false true true Moritz Wohanka Top 5 Highest Comp. Auto Loan X 41222 39414 false true true Moritz Wohanka Top 5 Highest Comp. Credit Card X 4858 1573 false true true Mark Hawkins Officer Home Loan X 1360000 1246177 false true true Bob Gray Director Home Loan X 164800 160654 false true true 1655297 Organization's Members or Stockholders Form 990, Part VI, Section A, Line 6: Altura 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. Altura Credit Union does not have stockholders. Powers of Members to Elect or Appoint Governing Body Form 990, Part VI, Section A, Line 7a: The governing board of Altura 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 the by-laws. Governance Decisions Reserved to Members Form 990, Part VI, Section A, Line 7b: At the end of each term of the board members, the 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 a merger or dissolution. Form 990 Review Process Form 990, Part VI, Section B, Line 11b: The CFO reviews the information listed on the Form 990 for accuracy before submitting it to the Board of Directors for approval. Conflict of Interest Policy Form 990, Part VI, Section B, Line 12c: Account status is reviewed for directors, officers and employees and there is an ethics hotline available for use by our members and employees. Process for Determining Compensation of the Organization's CEO Form 990, Part VI, Section B, Line 15a: A performance appraisal is completed by the Board of Directors. External market data is gathered and a report on projected CEO increases with recommendations is prepared by an outside firm. The Board of Directors meets to review the data and recommends increases and the current total compensation package of the CEO. The Board then votes on the new salary. Documents Made Available to the Public Form 990, Part VI, Section C, Line 19: The organization's governing documents, code of ethics, and financial statements are available upon request. The monthly financial statements are posted in each of the branches. Adjustment to Begining of Year Balance Sheet Form 990, Part X: The beginning of the year balance sheet has been updated from the 2012 Form 990 filed with the IRS to re-class "Net Loans and Leases" from Line 13, "Investments - Program-Related" to Line 7, "Notes and Loans Receivable, Net". FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ALL OTHER EXPENSES TOTAL EXPENSES:3831875 Altura Credit Union Foundation 2847 Campus Parkway Riverside CA 92507 330625895 Grantmaking CA 501(c)(3) 9 Altura CU true Altura Group Inc and Subsidiary 2847 Campus Pkwy Riverside CA 92507 330466710 Holding Co. CA Altura CU C Corp 294405 2648330 1.00000 true false false false false false false false false false false false true false true true false false false false Altura Group Inc and Subsidiary l 112309 FMV