2013-09-13T18:56:46-05:00 2012-12-31 550791598 INOUYE SUZUKI & YOSHIMURA 1609 BORDER AVENUE TORRANCE CA 905012810 990 2012-01-01 951914215 SOUTH BAY CREDIT UNION SOUT 3103725488 2304 ARTESIA BLVD REDONDO BEACH CA 902783199 DON STEINMAN 3103725488 2013-09-13 1 P00361679 3106186800 2012 2016-02-24 21:20:13Z JENNIFER OLIVER 2304 ARTESIA BLVD REDONDO BEACH CA 902783199 3276030 0 X WWW.SBCU.ORG X 1953 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 15 10 11052 953 0 0 2759545 2991397 314619 217614 15288 67019 3089452 3276030 1750 0 0 0 1181977 1057746 0 0 0 1863002 2139357 3046729 3197103 42723 78927 73872844 79072495 68724925 74263741 5147919 4808754 X SEE SCHEDULE O 0 0 SBCU IS COMMITTED TO ASSISTING OUR MEMBERS ACHIEVE THEIR FINANCIAL GOALS. IN 2012, WE HAVE HAD AN OVERALL GROWTH OF $5.43M IN TOTAL SHARES. IN 2012, LOAN GROWTH WAS A CHALLENGE, BUT WE WERE ABLE TO FUND $17.78M IN NEW LOANS FOR OUR MEMBERS. IN ADDITION TO THE PRODUCTS AND SERVICES WE PROVIDE, WE ARE NOW PART OF THE SHARED BRANCHING NETWORK. THIS ENABLES OUR MEMBERS TO FIND LOCATIONS THAT WILL SERVE THEIR CONVENIENCE NEEDS. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 15 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 1 1 1 1 0 CA X DON STEINMAN 3103725488 2304 ARTESIA BLVD REDONDO BEACH CA 902783199 JERRY GAINES 1.00 X 0 0 0 JAN PARNELL 1.00 X 0 0 0 MIKE PARSONS 1.00 X 0 0 0 SUSAN DARCY 1.00 X 0 0 0 VIKI COPELAND 1.00 X 0 0 0 CHUCK GARLAND 1.00 X 0 0 0 CHRIS OTEY 1.00 X 0 0 0 PERRY LYNN 1.00 X 0 0 0 INGRID TSUKIYAMA 1.00 X 0 0 0 KAYLEEN LEONE 1.00 X 0 0 0 JENNIFER OLIVER 40.00 X 167190 0 11892 DON STEINMAN 40.00 X 93427 0 10695 DAVID ELLINGS 40.00 X 81574 0 8746 342191 0 31333 1 0 1 0 CUNORTHWEST 1421 NORTH MEADOWWOOD LANE 130 LIBERTY LAKE WA 99019 IT SERVICES 153484 CU CO-OP SYSTEMS 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM EXCHANGE 121500 HEALTHNET 21650 OXNARD ST WOODLAND HILLS CA 91367 HEALTH CARE 102446 3 INTEREST ON LOANS 522100 2060738 2060738 FEE INCOME 522100 569296 567008 2288 OTHER OPERATING INCOME 522100 361363 352599 8764 2991397 217614 217614 MISCELLANEOUS REVENUE 522100 67019 67019 67019 3276030 3264978 11052 0 342191 524469 47390 74171 69525 46902 14862 42812 25672 48288 430042 157445 138988 17058 279593 164204 123490 PROV. FOR LOAN LOSSES 357569 LOAN SERVICING EXPENSE 219147 MISC. OPERATING EXPENSE 51896 ASSOCIATION DUES 21389 3197103 438471 449980 0 74255 73099 1779642 1172552 486157 607090 71446386 76128257 1427575 1814069 73872844 79072495 7709 7407 68717216 74256334 68724925 74263741 X 0 0 0 0 5147919 4808754 5147919 4808754 73872844 79072495 X 78927 -418093 X X 0 1 X 1 0 1000 1000 1000 1 CCUL - PAC 2855 E GUASTI ROAD SUITE 600 ONTARIO CA 91761 940357265 1000 0 PART IV, SUPPLEMENTAL INFORMATION: PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE PART I-C CONTINUATION FOR INCOMPLETE NAME/ADDRESS INFORMATION: CCUL - PAC 2855 E. GUASTI ROAD, SUITE 600 ONTARIO, CA 91761 55000 55000 821754 747930 73824 306990 143351 163639 595898 281271 314627 607090 LOANS AND LEASES 47453700 F FEDERAL AGENCY SECURITIES 8503736 F UNREALIZED GAIN ON INVESTMENTS 2258 F CATALYST/WB DAILY ACCOUNT 4660083 F BANK CERTIFICATES 4741000 F CORPORATE AMERICA CU ACCOUNT/USB MM ACCT 8691535 F PREMIUM ON SECURITIES 54693 F MBS SECURITIES 2021252 F 76128257 SHARES AND DEPOSITS 73943465 TAXES PAYABLE 3025 OTHER LIABILITIES 309844 74256334 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 NOT DEEMED TO 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, 2012 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 2006. FOR THE YEAR ENDED JUNE 30, 2012, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. X X 0 0 0 JENNIFER OLIVER 167190 0 0 0 0 0 0 0 0 0 167190 0 0 0 FORM 990, PART I, ITEM K, OTHER ORGANIZATION TYPE: CREDIT UNION ORGANIZATION MISSION STATEMENT FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: SOUTH BAY 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, SOUTH BAY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GERNAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. FORM 990, PART VI, SECTION A, LINE 6 SOUTH BAY CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT ANDD SAVINGS TO ITS MEMBERS. SOUTH BAY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF SOUTH BAY 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 REOGRANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD AND MANAGEMENT REVIEW THE FORM 990 DURING THE BOARD MEETING AND PROVIDE COMMENTS AND MODIFICATIONS WHERE NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS COMPLIANCE WITH OUR CONFLICT OF INTEREST POLICY. OUR CONFLICT OF INTEREST POLICY IS BOTH IN OUR POLICY MANUAL AND IN OUR EMPLOYEE HANDBOOK. THESE ARE BOTH UPDATED ON AN ANNUAL BASIS AND BROUGHT BEFORE THE BOARD OF DIRECTORS FOR THEIR REVIEW. A CONFLICT OF INTEREST POLICY IS DISTRIBUTED ON AN ANNUAL BASIS FOR SIGNATURE OF RECEIPT AND ACKNOWLEDGEMENT BY ALL VOLUNTEERS AND STAFF. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS SETS COMPENSATION FOR THE PRESIDENT/CEO. THE PRESIDENT/CEO SETS COMPENSATION FOR MANAGEMENT STAFF. SALARY SURVEYS AND COMPARABLE DATA IS OBTAINED AND USED FOR THIS PURPOSE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC AS REQUESTED IN WRITING. FINANCIALS FOR THE INSTITUION ARE POSTED MONTHLY IN THE BRANCHES. FORM 990, PART XI, LINE 9, CHANGES IN ASSETS: NET UNREALIZED GAINS ON INVESTMENTS: 255 CHANGE IN DEFINED BENEFIT OCI 417,838 TOTAL TO FORM 990,PART XI, LINE 9 418,093