2012-11-02T16:32:18-05:00 2011-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2011-01-01 941696676 NATIONAL 1ST CREDIT UNION NATI 8886726073 2999 SAN YSIDRO WAY SANTA CLARA CA 95051 SCOTT BOLSTER 8886726073 2012-10-25 1 VALENTINO CREUS CPA P01054153 8189549700 2011 2016-02-24 21:20:13Z MARCIA ELAINE LILLIS 2999 SAN YSIDRO WAY SANTA CLARA CA 95051 8192787 0 X WWW.NATIONAL1ST.ORG X CREDIT UNION 1968 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 6 5 42 8 6894 0 0 0 7210361 7012424 910146 1093346 22292 87017 8142799 8192787 0 0 0 0 3041518 2889055 0 0 0 5183964 6799146 8225482 9688201 -82683 -1495414 185988441 200079116 167486885 182874505 18501556 17204611 X NATIONAL 1ST 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, NATIONAL 1ST 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 0 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4059 0 1 42 1 1 1 0 0 0 0 0 X 6 5 0 0 0 0 1 1 1 1 1 0 1 1 1 0 1 1 1 1 0 CA X SCOTT BOLSTER CFO 8886726073 2999 SAN YSIDRO WAY SANTA CLARA CA 950510604 ROBERT DEBARR 1.00 X 0 0 0 SEAMUS MORAN 1.00 X 0 0 0 THOMAS RANDAZZO 1.00 X 0 0 0 THOMAS SUCHEVITS 1.00 X 0 0 0 MARK VEEH 1.00 X 0 0 0 DONALYN RUIZ 1.00 X 0 0 0 TEJINDER SINGH 1.00 X 0 0 0 SESHADRI RAMASWAMI 1.00 X 0 0 0 MARCIA LILLIS 40.00 X X 241277 0 15627 RUSSELL MELTON 40.00 X 161508 0 12392 SCOTT BOLSTER 40.00 X 134467 0 9754 LAURA STARK LACOMBLE 40.00 X 152792 0 13052 SANDRA SCUTCHALL 40.00 X 138723 0 8647 PAUL KRAMER 40.00 X 109895 0 5203 MALGORZATA CZYZ 40.00 X 109571 0 12708 1048233 0 77383 7 0 1 0 XP SYSTEMS 75 REMITTANCE DRIVE SUITE 6963 CHICAGO IL 60675 ENTERPRISE DATA MANAGEMENT SYSTEM 251386 VOLT 5201 GREAT AMERICA PKWY STE 432 SANTA CLARA CA 95054 WORKFORCE CONSULTING 191614 RESOURCE TECHNICAL SERVICES INC MICHAEL R POUR MECHANICSVILLE VA 23111 BUSINESS CONSULTING 158868 PM SYSTEMS CORPORATION 105 BEAUFORT STREET SUITE E CHAPIN SC 29036 TRANSACTION SERVICING/PROCESSING 125013 DIEBOLD 5995 MAYFAIR ROAD PO BOX 3077 NORTH CANTON OH 44720 SECURITY SOLUTIONS 119890 5 LOAN INCOME 522100 5710044 5710044 OTHER OPERATING INCOME 522100 798033 798033 FEE INCOME 522100 504347 497453 6894 7012424 1093346 1093346 OTHER NON OPERATING IN 522100 87017 87017 87017 8192787 8185893 6894 0 1048233 1303371 67165 279159 191127 65940 49902 1085571 142219 554564 152943 214985 38017 794069 438978 426270 PROV FOR LOAN LOSSES 2535609 MISC. OPERATING EXPENSE 157893 LOAN SERVICING EXPENSE 124749 OPERATING FEES 17437 9688201 583404 685223 24340224 35128309 1446573 2229654 205297 200205 6661529 5344236 1475300 1317293 15200880 12478844 141784171 147199337 952592 840251 185988441 200079116 779527 792264 166707358 182082241 167486885 182874505 X 0 0 0 0 18501556 17204611 18501556 17204611 185988441 200079116 X -1495414 198469 X X 0 1 1 X 0 3366408 2455571 910837 3295121 2888665 406456 1317293 ALL OTHER INVESTMENTS 1118323 F DEPOSITS IN COMMERCIAL BANKS 43716000 F LOANS AND LEASES 100765259 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 1599755 F 147199337 TOTAL SHARES AND DEPOSITS 182082241 182082241 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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. THE CREDIT UNION IS NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AND STATE TAX AUTHORITIES FOR TAX YEARS BEFORE 2007. FOR THE YEAR ENDED MARCH 31, 2012, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. X 0 0 0 MARCIA LILLIS 194680 0 45250 0 1347 0 7571 0 8056 0 256904 0 0 0 RUSSELL MELTON 128383 0 33000 0 125 0 5038 0 7354 0 173900 0 0 0 LAURA STARK LACOMBLE 132892 0 18850 0 1050 0 4892 0 8160 0 165844 0 0 0 MARCIA E LILLIS HOME EQUITY LINE OF CREDIT X 10000 8578 0 1 1 MARCIA E LILLIS VISA X 7500 7060 0 1 1 SANDRA J SCUTCHALL VISA X 20000 6471 0 1 1 SANDRA J SCUTCHALL HOME EQUITY LINE OF CREDIT X 100000 96654 0 1 1 SANDRA J SCUTCHALL 1ST MORTGAGE X 600000 534863 0 1 1 LAURA L LACOMBLE AUTO X 48497 8864 0 1 1 ROBERT E DEBARR VISA X 200000 70048 0 1 1 MARCIA E LILLIS AUTO X 67189 58366 0 1 1 MARCIA E LILLIS 1ST MORTGAGE X 626144 608418 0 1 1 SANDRA J SCUTCHALL AUTO X 10000 8487 0 1 1 SANDRA J SCUTCHALL SIGNATURE X 25000 8748 0 1 1 SEAMUS MORAN 1ST MORTGAGE X 634000 604543 0 1 1 SEAMUS MORAN VISA X 30000 152 0 1 1 SEAMUS MORAN AUTO X 17348 10402 0 1 1 SESHADRI RAMASWAMI VISA X 250000 198000 0 1 1 2229654 FORM 990, PART VI, SECTION A, LINE 6 NATIONAL 1ST 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. NATIONAL 1ST CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF NATIONAL 1ST 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 PRIOR TO FILING, THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS WHO RECOMMEND MODIFICATIONS IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATION DOES NOT HAVE A SEPARATE CONFLICT OF INTEREST POLICY. HOWEVER AS PER THE CODE OF ETHICS EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AS AND WHEN THEY ARISE. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST GUIDELINES AS PER THE CODE OF ETHICS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE MANAGEMENT, ON AT LEAST AN ANNUAL BASIS, OBTAINS COMPENSATION SURVEY DATA FOR HIGHLY COMPENSATED EMPLOYEES (WHICH CONSIST OF VICE PRESIDENTS AND HIGHER) FOR PURPOSES OF COMPENSATION BENCHMARKING. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THIS DATA IN CONJUNCTION WITH EXECUTIVE MANAGEMENT TO DETERMINE APPROPRIATE COMPENSATION LEVELS BY EMPLOYEE POSITION. COMPENSATION LEVELS FOR OTHER KEY EMPLOYEES AND GENERAL STAFF IS AVAILABLE TO THE COMPENSATION COMMITTEE AT ANY TIME FOR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS MONTHLY FINANCIAL STATEMENTS FOR PUBLIC VIEWING BY MEMBERS IN ALL BRANCHES. ORGANIZATION DOES NOT POST GOVERNING DOCUMENTS OR A CONFLICT OF INTEREST POLICY FOR PUBLIC VIEWING. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED GAINS/LOSSES ON AVAILABLE FOR SALE SECURITIES -24,913. CHANGE IN UNDIVIDED EARNINGS 190,315. CHANGE IN REGULAR RESERVE 33,067. TOTAL TO FORM 990, PART XI, LINE 5: 198,469. FORM 990, PART VII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.