2013-11-21T15:37:56-06:00 2012-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2012-01-01 953442691 PREMIER AMERICA CREDIT UNION PREM 8187724021 19867 PRAIRIE STREET CHATSWORTH CA 91311 BRAD CUNNINGHAM 8187724021 2013-11-21 1 GERALD B KISSELL P00092658 6123324300 2012 2016-02-25 16:41:14Z JOHN MERLO 19867 PRAIRIE STREET CHATSWORTH CA 91311 240820181 0 1526 X WWW.PREMIER.ORG X 1957 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST ITS MEMBERS. 9 8 309 5 624529 -88649 0 0 53443849 49843365 2146451 3826232 384914 6927411 55975214 60597008 0 0 7897052 7310315 16686832 18488976 0 0 0 24866548 24431546 49450432 50230837 6524782 10366171 1314991753 1468527192 1195837813 1339168165 119153940 129359027 X A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONGST 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, PREMIER AMERICA 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 THE ORGANIZATION ENCOURAGED AND PROMOTED SAVINGS AND INCREASED MEMBERSHIP NUMBERS AND DEPOSIT BALANCES. DEPOSIT BALANCES GREW BY $234 MILLION COMPARED TO THE PREVIOUS YEAR AND THE ORGANIZATION CONTINUED TO PAY MEMBERS FAVORABLE DIVIDEND RATES ON THEIR SAVINGS. THE ORGANIZATION MET MORTGAGE NEEDS OF FIRST TIME HOME BUYERS AND THE REFINANCING NEEDS OF EXISTING HOMEOWNERS, ALLOWING THEM TO TAKE ADVANTAGE OF LOWER INTEREST RATES. LOWER INTEREST RATES WERE MADE POSSIBLE BY BEING A FNMA MORTGAGE LOAN SELLER AND SERVICER. DURING THE YEAR, THE ORGANIZATION GRANTED 1,103 REAL ESTATE LOANS TOTALLING $318 MILLION TO ITS MEMBERS. PROVIDE EDUCATIONAL INFORMATION ON DEPOSIT AND LOAN PRODUCTS AS WELL AS CU PRODUCTS SUCH AS HOMEBANKING, BILL PAY AND MOBILE BANKING. IN ADDITION TO NEWSLETTERS AND EDUCATIONAL BROCHURES, THE ORGANIZATION CONDUCTED 19 EDUCATIONAL SEMINARS WITH 422 ATTENDEES. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 53672 0 1 309 1 1 1 0 0 0 0 0 X 9 8 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X LINDA MARQUEZ 8187724021 19867 PRAIRIE STREET CHATSWORTH CA 91311 JOHN M MERLO 40.00 X X 721163 0 832652 JOHN DE VERE 1.00 X X 0 0 0 ERIC GOLDNER 1.00 X X 0 0 0 LARRY COLSON 1.00 X X 0 0 0 JAMES ANDERSEN 1.00 X 720 0 0 LAWRENCE S HOKE 1.00 X 0 0 0 ROGER LUBIG 1.00 X 837 0 0 WILLIAM COLE 1.00 X 1023 0 0 GARY HOLMEN 1.00 X 0 0 0 W BRAD CUNNINGHAM 40.00 X 286935 0 38275 MARJORIE MCNAUGHT 40.00 X 451890 0 355649 LIZBETH CONDERCURI 40.00 X 274472 0 14360 SANA SALEH 40.00 X 273091 0 11526 DONNA MCNEELY 40.00 X 252216 0 25614 JAMES RITTER 40.00 X 171901 0 26167 KELLY KAREN 40.00 X 135631 0 24540 GLEN CHRZAS 40.00 X 176951 0 22040 ROSALINDA MARQUEZ 40.00 X 129719 0 13547 RUSSELL SCRIVNER JR 40.00 X 121110 0 8680 2997659 0 1373050 15 0 1 0 INTUIT CORPORATION 21215 BURBANK BLVD STE 100 WOODLAND HILLS CA 91367 HOME BANKING SERVICE PROVIDER 832763 THE MEMBERS GROUP 1500 NW 118TH ST DES MOINES IA 50325 CREDIT AND DEBIT CARD PROCESSING 718162 FINANCIAL TECHNOLOGY SOLUTIONS INC 406 E HUNTINGTON DR STE 100 MONROVIA CA 91016 SALE AND INSTALLATION OF ATM MACHINES 696248 FIDELITY NATIONAL INFORMATION SERVICES 601 S LAKE DESTINY RD STE 300 MAITLAND FL 32751 CORE SYSTEM MAINTENANCE & SUPPORT 648696 NTR CONSTRUCTION CO INC 7500 TOPANGA CANYON BLVD 2ND FLR CANOGA PARK CA 91303 BRANCHES & OFFICE CONSTRUCTION 421005 29 INCOME FROM MEMBER LOANS 522100 41135616 41135616 SERVICE CHARGES & OTHER FEES 522100 3961200 3336671 624529 INTERCHANGE INCOME 522100 2833658 2833658 INVESTMENT BROKERAGE COMMISSIONS 523000 1161498 1161498 OTHER NON-INTEREST INCOME 522100 751393 751393 49843365 1913355 1913355 709911 272977 436934 436934 436934 181863073 179950196 1912877 1912877 1912877 GAIN ON BARGIN PURCHASE 522100 6490477 6490477 6490477 60597008 55709313 624529 4263166 7310315 2398971 12178215 1566261 1279301 1066228 379258 186800 371392 4876545 3106173 96649 1405252 70678 212543 5113227 581534 174275 PROVISION FOR LOAN LOSS 3600000 LOAN SERVICING EXPENSE 1775536 NCUA CORPORATE STABILIZ 1235284 EDUCATIONAL & PROMOTION 581249 665151 50230837 408372470 484143310 3860292 3860123 728824972 730702082 27467357 12038267 15577453 15429090 125978415 196731450 7428489 7571702 1229600 4474429 23720062 25615006 1314991753 1468527192 14965683 22469636 95000000 0 1085872130 1316698529 1195837813 1339168165 X 0 0 0 0 119153940 129359027 119153940 129359027 1314991753 1468527192 10366171 -161084 0 X 0 1 X 1 0 350 350 350 1 TODD ZINK FOR STATE SENATE 2012 ID#1345594 2219 E THOUSAND OAKS BLVD STE 209 THOUSAND OAKS CA 91362 350 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: THE CREDIT UNION MAKES CONTRIBUTIONS TO SUPPORT CANDIDATES OR POLITICAL ACTION COMMITTEES PROMOTING CREDIT UNION CAUSES. 3731592 3731592 13234972 5381076 7853896 2828000 2419943 408057 7672793 4237248 3435545 15429090 MEMBERS' SHARES 1316698529 1316698529 X 60597008 0 60597008 0 60597008 50230837 0 50230837 0 50230837 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: AS OF AND FOR THE TAX YEAR ENDED DECEMBER 31, 2012 AND 2011, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. X X 1 1 X X X X 0 1 0 JOHN M MERLO 555033 0 125533 0 40597 0 814613 0 18039 0 1553815 0 0 0 W BRAD CUNNINGHAM 241694 0 45241 0 0 0 26194 0 12081 0 325210 0 0 0 MARJORIE MCNAUGHT 358545 0 71859 0 21486 0 340656 0 14993 0 807539 0 0 0 LIZBETH CONDERCURI 239270 0 35202 0 0 0 12728 0 1632 0 288832 0 0 0 SANA SALEH 238214 0 34877 0 0 0 9506 0 2020 0 284617 0 0 0 DONNA MCNEELY 213214 0 39002 0 0 0 24708 0 906 0 277830 0 0 0 JAMES RITTER 165441 0 6460 0 0 0 0 0 26167 0 198068 0 0 0 KELLY KAREN 135631 0 0 0 0 0 5841 0 18699 0 160171 0 0 0 GLEN CHRZAS 165414 0 11537 0 0 0 6848 0 15192 0 198991 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - THE CREDIT UNION WILL PAY FOR THE SPOUSE OR COMPANION'S PLANE FARE FOR OUT OF TOWN OFFICIAL TRAVELS (CONFERENCES), HOTEL ACCOMMODATIONS (SHARED ROOM) AND MEALS. A 1099-MISC IS FILED WHEN THE TOTAL EXPENSES INCURRED FOR THE COMPANION REACHES THE REPORTABLE AMOUNT. TAX INDEMNIFICATION AND GROSS UP PAYMENTS - THE CREDIT UNION GROSSES UP FOR TAX ON CERTAIN NON-CASH BENEFITS REPORTED IN THE RECIPIENT'S W-2. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NONQUALIFIED RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS DURING 2012. JOHN M. MERLO, PRESIDENT/CEO W. BRAD CUNNINGHAM, SENIOR VP/CFO MARJORIE MCNAUGHT, SENIOR VP, LENDING DONNA MCNEELY, SENIOR VP, INVESTMENT/INSURANCE FORM 990, PART VI, SECTION A, LINE 2 JAMES K. ANDERSEN, DIRECTOR AND ERIC GOLDNER, DIRECTOR - BUSINESS RELATIONSHIP. (BOTH WORK FOR THE SAME COMPANY WHERE JAMES ANDERSEN IS PRESIDENT AND ERIC GOLDNER IS A VICE PRESIDENT.) 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. 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 BY LAW, RULES OR REGULATIONS, SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT FORM 990 PREPARED BY THE TAX ACCOUNTANT IS REVIEWED BY SENIOR MANAGEMENT IN THE FOLLOWING ORDER: VP/CONTROLLER, SVP/CHIEF FINANCIAL OFFICER, SVP/HUMAN RESOURCES, PRESIDENT AND CHIEF EXECUTIVE OFFICER, AND FINALLY, THE BOARD OF DIRECTORS. QUESTIONS, COMMENTS AND CORRECTIONS ARE ADDRESSED AT EACH STAGE OF THE REVIEW BEFORE THE FINAL REPORT IS FILED BY THE TAX PREPARER FOR THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS CONTAINED IN THE CODE OF RESPONSIBILITY AND ETHICS THAT EACH EMPLOYEE IS REQUIRED, ANNUALLY, TO ACKNOWLEDGE. VIA WRITTEN POLICY, ALL EMPLOYEES AND OFFICIALS ARE MADE AWARE OF THE CREDIT UNION'S COMPLIANCE REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, THE CONFLICTS OF INTEREST POLICY. STANDARD CREDIT UNION PROCEDURES AND REQUIREMENTS ARE CONSISTENTLY APPLIED TO ANY BUSINESS TRANSACTION BY DIRECTORS, OFFICERS, AND EMPLOYEES. IF A DECISION IS REQUIRED REGARDING A BUSINESS TRANSACTION THAT COULD POTENTIALLY RISE TO A PERCEPTION OF A CONFLICT OF INTEREST, THE INVOLVED PARTY WILL RECUSE HIM OR HERSELF FROM DISCUSSION AND REVIEW OF THE TRANSACTION. TRANSACTIONS INVOLVING INDIVIDUAL ACCOUNTS ARE MONITORED BY THE INTERNAL AUDITOR ON A REGULAR BASIS. FORM 990, PART VI, SECTION B, LINE 15 EXTENSIVE ANNUAL SURVEYS ARE CONDUCTED FOR KEY POSITIONS IN THE CREDIT UNION INCLUDING, BUT NOT LIMITED TO, TOP MANAGEMENT AND KEY EMPLOYEES. THESE SURVEYS ARE PROVIDED BY PROFESSIONAL COMPENSATION ANALYSTS WHO WORK DIRECTLY WITH DATA WITHIN THE FINANCIAL INDUSTRY FIELD. THESE SURVEYS PROVIDE TOTAL COMPENSATION INFORMATION THAT RANGES FROM BROAD MACRO ISSUES TO SPECIFIC ELEMENTS OF TOTAL COMPENSATION STRUCTURES. FORM 990, PART VI, SECTION C, LINE 19 UNAUDITED FINANCIAL STATEMENTS ARE POSTED MONTHLY IN ALL BRANCHES. THE ANNUAL REPORT CONTAINING AUDITED FINANCIAL STATEMENTS IS AVAILABLE AT THE CREDIT UNIONS WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. PREMIER FINANCIAL SERVICES INC PO BOX 2178 CHATSWORTH CA 91313 954391970 SALE OF INVESTMENT & INSURANCE PRODUCTS (INACTIVE 2012) CA PREMIER AMERICA CREDIT UNION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PREMIER AMERICA CREDIT UNION'S 2012 FORM 990 WAS ORIGINALLY ELECTRONICALLY FILED ON NOVEMBER 13, 2013; HOWEVER THE RETURN WAS REJECTED, STATING THE RETURN TYPE INDICATED IN THE RETURN HEADER MUST MATCH THE RETURN TYPE ESTABLISHED WITH THE IRS FOR THE EIN. WE HAVE BEEN IN CONTACT WITH THE IRS TO RESOLVE THE ISSUE; THEREFORE WE RESPECTFULLY REQUEST NO LATE FEES OR PENALTIES BE ASSESSED DUE TO THE FACT THE RETURN WAS ORIGINALLY SUBMITTED BY THE EXTENDED DUE DATE OF NOVEMBER 15TH.