2014-11-03T18:16:48-06:00 2013-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2013-01-01 951790568 VENTURA COUNTY CREDIT UNION VENT 8054774024 PO BOX 6920 VENTURA CA 930066920 LINDA SIM CFO 8054774024 2014-10-30 1 VALENTINO CREUS CPA P01054153 8189549700 2013 2015-11-30 17:44:51Z JOSEPH SCHROEDER PO BOX 6920 VENTURA CA 930066920 28864304 0 X WWW.VCCUONLINE.NET X CREDIT UNION 1950 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 188 13 183965 -118462 0 0 23415926 24445950 5172714 4034546 350135 311060 28938775 28791556 55000 96559 0 0 8513015 10124607 0 0 0 15011542 13457360 23579557 23678526 5359218 5113030 627947577 654328438 574855707 596326295 53091870 58002143 X VENTURA COUNTY 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, VENTURA COUNTY 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 THE CREDIT UNION EXPANDED ITS DELIVERY SYSTEM WITH THE ADDITION OF A NEW BRANCH IN PORT HUENEME AND ADDITIONAL ATMS ACROSS VENTURA AND SANTA BARBARA COUNTIES. THE CREDIT UNION IMPLEMENTED A SERVICE STAR TRAINING PROGRAM WHICH HAS RESULTED IN IMPROVED MEMBER SATISFACTION, CROSS SALES, AND LOAN GROWTH. VOTED BY "VC REPORTER" AS VENTURA COUNTY'S BEST/FAVORITE FINANCIAL INSTITUTION FOR THE FOURTH YEAR IN A ROW. 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 10606 0 1 188 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 LINDA SIM CFO 8054774024 6026 TELEPHONE ROAD VENTURA CA 93006 ROXANNE OSTREM CHAIRPERSON 5.00 X 0 0 0 SUE TATANGELO VICE CHAIRPERSON 4.00 X 0 0 0 MONIQUE NOWLIN SECRETARY 3.80 X 0 0 0 BRENDA MORRIS ASSISTANT SECRETARY 3.80 X 0 0 0 PAT MADDEN TREASURER 3.80 X 0 0 0 AL DUFF BOARD MEMBER 1.80 X 0 0 0 SUSAN CRAIG BOARD MEMBER 3.80 X 0 0 0 PHILIP BOHAN ALCO COMMITTEE 7.50 X 0 0 0 WILLIAM FRANK ALCO COMMITTEE 7.50 X 0 0 0 JEFF LANDIS SUPV CMTE CHAIR 2.00 X 0 0 0 DANIELLE BRINKMAN SUPV CMTE VICE CHAIR 1.30 X 0 0 0 WENDY VICKERS SUPV CMTE SECRETARY 1.30 X 0 0 0 MARGO BYRNE SUPV CMTE MEMBER 1.30 X 0 0 0 JOSEPH SCHROEDER CEO & PRESIDENT 45.00 X 368103 0 347276 LINDA SIM CFO 45.00 X 185677 0 32440 GAVIN BRADLEY SVP RETAIL SVCS 45.00 X 184722 0 33281 LINDA ROSSI SVP STRATEGIC SVCS 45.00 X 178593 0 18793 LINDA TABATA SR HOME LOAN SPECIALIST 45.00 X 175692 0 13541 JACKIE BENOUN VP LENDING 45.00 X 160750 0 24434 GREGORY UTTAL AVP LENDING 45.00 X 110111 0 17833 BERT HERRERA VP TECHNOLOGY (FORMER) 45.00 X 93797 0 7671 MARK ROSS VP IT 45.00 X 50381 0 6732 1507826 0 502001 7 0 1 0 ACI WORLDWIDE CORP 3520 KRAFT ROAD SUITE 300 NAPLES FL 34105 SOFTWARE SERVICES 915884 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 657088215 INFORMATION PROCESSING SOLUTIONS 501530 BDI-BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STMT & POSTAGE SERVICES 397036 MOMENTUM INC 2120 MARKET STREET SUITE 100 CAMP HILL PA 17011 MANAGEMENT CONSULTING SERVICES 325628 FTSI PO BOX 379 PASADENA CA 91102 ATM SERVICES 323205 17 INTEREST ON LOANS 522100 14666307 14666307 FEE INCOME 522100 5325617 5325617 OTHER OPERATING INCOME 522100 4454026 4270061 183965 24445950 4035694 4035694 71600 72748 -1148 -1148 -1148 OTHER NON-OPERATING INCOME 522100 311060 311060 311060 28791556 28607591 183965 0 96559 1507826 6511616 557662 895209 652294 61899 165698 359893 876232 4181719 1094535 882262 206253 1848095 1531464 463084 LOAN SERVICING EXPENSE 855624 MISC OPERATING EXPENSE 662871 PROV FOR LOAN LOSSES 208386 OPERATING FEES 59345 23678526 6940348 4847793 84890774 88622686 886630 552441 539542 939957 33467891 11377914 22334956 22089977 110110537 120982457 386951606 401390075 421020 439368 14872164 14463684 627947577 654328438 3446063 3491934 571409644 592834361 574855707 596326295 X 0 0 0 0 53091870 58002143 53091870 58002143 627947577 654328438 5113030 -202757 0 X X 0 1 X 1 0 4000 4000 4000 1 CCUL - PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 940357265 4000 7442872 7442872 16819636 5383134 11436502 1435360 1049094 386266 7770023 4945686 2824337 22089977 ALL OTHER INVESTMENTS 3192800 F LOANS AND LEASES 303605211 F NCUA SHARE INSURANCE CAP DEPOSIT 5788553 C HELD TO MATURITY SECURITIES 88803511 F 401390075 DIVIDENDS PAYABLE 95721 TOTAL SHARES AND DEPOSITS 592738640 592834361 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 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 JUNE 30, 2013, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION IS NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AND STATE TAX AUTHORITIES FOR TAX YEARS BEFORE 2008. 1 BRAIN INJURY CENTER PO BOX 1477 CAMARILLO CA 93011 770491413 501(C)(3) 5000 FMV PROVIDES SUPPORT AND RESOURCES FOR PEOPLE WITH BRAIN INJURIES AND THEIR FAMILIES OXNARD DOWNTOWNERS PO BOX 1892 OXNARD CA 93032 770367510 501(C)(4) 7500 FMV PROMOTES THE QUALITY OF LIFE FOR THE COMMUNITY RUBICON THEATRE COMPANY 1006 E MAIN STREET VENTURA CA 93001 770495901 501(C)(3) 5000 FMV PROMOTES EDUCATION THROUGH SPECIAL EVENTS AND EDUCATIONAL PROGRAMS WOCCU SERVICES GROUP INC 5710 MINERAL POINT ROAD MADISON WI 53705 391984681 501(C)(3) 10000 FMV ASSIST CREDIT UNION IN DEVELOPING AND IMPLEMENTING NEW TECHNOLOGIES 3 4 X X X 1 1 0 JOSEPH SCHROEDER CEO & PRESIDENT 345304 0 0 0 22799 0 319151 0 28125 0 715379 0 0 0 LINDA SIM CFO 168020 0 13606 0 4051 0 5437 0 27003 0 218117 0 0 0 GAVIN BRADLEY SVP RETAIL SVCS 164790 0 15846 0 4086 0 5407 0 27874 0 218003 0 0 0 LINDA ROSSI SVP STRATEGIC SVCS 157594 0 17023 0 3976 0 5226 0 13567 0 197386 0 0 0 LINDA TABATA SR HOME LOAN SPECIALIST 175692 0 0 0 0 0 5289 0 8252 0 189233 0 0 0 JACKIE BENOUN VP LENDING 147408 0 9070 0 4272 0 4684 0 19750 0 185184 0 0 0 PART I, LINES 4A-B BERT HERRERA RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $49,355 DURING THE YEAR. THE CREDIT UNION CONTRIBUTES TO A 457(F) PLAN FOR THE CEO WHICH PROVIDES ADDITIONAL RETIREMENT BENEFITS. THE CREDIT UNION OFFERS A SERP AS PART OF THE CEO'S 10-YEAR EMPLOYMENT CONTRACT. THE PURPOSE OF THE PLAN IS TO PROVIDE ADDITIONAL INCENTIVE FOR THE CEO TO REMAIN WITH THE CREDIT UNION. X 0 0 0 JOSEPH SCHROEDER OFFICER HOME LOAN X 595000 552441 0 1 1 552441 FORM 990, PART VI, SECTION A, LINE 6 VENTURA COUNTY 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. VENTURA COUNTY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF VENTURA COUNTY 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 ADVANCED MONTHLY BOARD PACKAGES, INCLUDING FINANCIAL STATEMENTS AND OTHER RELEVANT INFORMATION ARE DISTRIBUTED TO THE BOARD MONTHLY, IN ADVANCE OF THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS ANY EXCEPTION ON A PERIODIC BASIS PURSUANT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND PROVIDES ANY RESOLUTION WHERE NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCE DEPT. GATHERS RELEVANT SALARY INFORMATION COMPARABLE WITHIN INDUSTRY AND MARKET STANDARDS. THEREAFTER, APPROPRIATE RECOMMENDATIONS ARE PROVIDED TO THE CEO FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE ITS FINANCIAL STATEMENTS IN EVERY BRANCH LOCATION ON A MONTHLY BASIS AND PROVIDES ANY GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY UPON REQUEST. FORM 990, PART XI, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.