2012-11-15T18:11:41-06:00 2011-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2011-01-01 330358683 AMERICAN FIRST CREDIT UNION AMER 8002901112 700 N HARBOR BLVD LA HABRA CA 90631 JON SHIGEMATSU 8002901112 2012-11-08 1 VALENTINO CREUS CPA P01054153 8189549700 2011 2016-02-24 21:20:13Z PAMELLA EASLEY 700 N HARBOR BLVD LA HABRA CA 90631 47450027 0 X WWW.AMERFIRST.ORG X CREDIT UNION 1989 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 5 5 162 8 159154 -74495 0 0 29310504 25730652 2126183 2568045 260032 0 31696719 28298697 0 599 0 0 9073755 7873817 0 0 0 26749493 20057245 35823248 27931661 -4126529 367036 550898917 513595277 515020849 477125156 35878068 36470121 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, AMERICAN FIRST CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 ACHIEVEMENT OF MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND SIMILAR ACCOUNTS. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH CONSUMER AND REAL ESTATE LOANS, I.E., AUTO LINES, VISA, 1ST MORTGAGE AND PERSONAL LINES OF CREDIT. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH OUR LONG TERM COMMITMENT TO HELP OUR MEMBERS REACH THEIR FINANCIAL GOALS. 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 14369 0 1 162 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X MICHAEL TAYLOR 8002901112 700 NORTH HARBOR BLVD LA HABRA CA 906314026 DANNY DOSS 1.00 X 0 0 0 TOM COOK 1.00 X 0 0 0 PATTI MALOTT 1.00 X 0 0 0 DON KOCHERHANS 1.00 X 0 0 0 DAVID DE LEON 1.00 X 0 0 0 AMANDA SECOLA 1.00 X 0 0 0 GEORGE CONNAGHAN 1.00 X 0 0 0 JASON PHILIBERT 1.00 X 0 0 0 PAMELLA EASLEY 40.00 X 295367 0 114919 BRIAN THOMPSON 40.00 X 156879 0 61581 JON SHIGEMATSU 40.00 X 10819 0 0 ARTHUR HICKSON 40.00 X 48916 0 5855 SCOTT RAINS 40.00 X 166307 0 64752 678288 0 247107 3 0 1 0 FISERV 75 REMITTANCE DRIVE SUITE 1698 CHICAGO IL 60675 MAINFRAME MAINTENANCE 276076 DIGITAL INSIGHT CORPORATION PO BOX 515306 LOS ANGELES CA 90051 HOME BANKING PROVIDER 225492 BUSINESS DATA INC 321 NORTH OAK STREET INGLEWOOD CA 90302 DOCUMENT SERVICES COMPANY 181194 HYATT WARD ADVERTISING INC 1174 NEVADA STREET SUITE 200 REDLANDS CA 92374 ADVERTISING SERVICES 157746 PAETEC COMMUNICATIONS INC PO BOX 1283 BUFFALO NY 14240 IP PHONE SERVICES 140031 10 INTEREST ON LOANS 522100 17811370 17811370 OTHER OPERATING INCOME 522100 5319621 5160467 159154 FEE INCOME 522100 2599661 2599661 25730652 1814649 1814649 14048725 5856001 13648131 5503199 400594 352802 753396 753396 28298697 28139543 159154 0 599 678288 5596390 181898 883307 533934 173427 1741044 374792 1646132 25897 549554 68434 7416718 593123 1211467 PROV. FOR LOAN LOSSES 4331513 LOAN SERVICING EXPENSE 1229402 NON-OPERATING LOSSES 482951 MISC. OPERATING EXPENSE 164713 48078 27931661 1497871 800650 93540616 127492957 4114045 1277036 430924 452788 11000349 7632299 3815850 3368050 52529548 37209880 363684946 310306412 31285117 32687504 550898917 513595277 4305003 4279471 510715846 472845685 515020849 477125156 X 0 0 0 0 35878068 36470121 35878068 36470121 550898917 513595277 X 367036 225017 X X 0 1 1 X 0 1250000 1250000 3407321 1750083 1657238 745499 461902 283597 5597529 5420314 177215 3368050 ALL OTHER INVESTMENTS 4450900 F LOANS AND LEASES 293712480 F INVESTMENTS HELD FOR SALE 6697164 F NCUA SHARE INSURANCE CAP DEPOSITS 4845868 F MEMBERSHIP CAPITAL AT CORP. CUS 600000 F 310306412 ACCRUED INTEREST ON LOANS 1083715 FORECLOSED ASSETS 4427479 ACCRUED INTEREST ON INVESTMENTS 258863 ALL OTHER ASSETS 26917447 32687504 MEMBER SHARE DEPOSITS 472845685 472845685 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FASB ACCOUNTING STANDARDS CODIFICATION 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 DECEMBER 31, 2011, 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. X 1 1 X X 1 1 0 PAMELLA EASLEY 294136 0 0 0 1231 0 107350 0 7569 0 410286 0 0 0 BRIAN THOMPSON 156407 0 0 0 472 0 49719 0 11862 0 218460 0 0 0 SCOTT RAINS 165718 0 0 0 589 0 50069 0 14683 0 231059 0 0 0 PART I, LINES 4A-B ARTHUR HICKSON RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $5,885 IN 2011. THE CREDIT UNION HAS ESTABLISHED A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN EXECUTIVE/SENIOR MANAGEMENT EMPLOYEES UNDER INTERNAL REVENUE CODE (IRC) SECTION 457(F). PATTI MALOTT HELOC X 150000 103460 0 1 1 BRIAN THOMPSON 1ST MORTGAGE X 417000 382581 0 0 1 BRIAN THOMPSON HELOC X 200000 33432 0 0 1 SCOTT RAINS AUTO X 15408 6756 0 0 1 BRIAN THOMPSON AUTO X 11918 5317 0 0 1 SCOTT RAINS 1ST MORTGAGE X 282500 265643 0 0 1 PATTI MALOTT 1ST MORTGAGE X 158800 154204 0 1 1 AMANDA SECOLA AUTO X 12584 3955 0 1 1 THOMAS COOK 1ST MORTGAGE X 181000 180733 0 1 1 THOMAS COOK 1ST MORTGAGE X 156000 140955 0 1 1 1277036 FORM 990, PART VI, SECTION A, LINE 6 AMERICAN FIRST 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. AMERICAN FIRST CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF AMERICAN FIRST 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 THE 990 IS PROVIDED TO THE BOD WHO RECOMMENDS CHANGES WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION CONFLICT OF INTEREST AND ETHICS POLICY IS MONITORED ON A REGULAR BASIS. COMPLIANCE IS MONITORED THROUGH THIRD PARTY AUDITS, THE INTERNAL AUDIT STAFF AND COMPLIANCE DEPARTMENTS. RELATED PARTY TRANSACTIONS ARE REPORTED TO THE GOVERNING BODY FOR REVIEW AND APPROPRIATENESS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO COMPENSATION IS DETERMINED BY THE ORGANIZATION'S GOVERNING BODY. THE BOARD REVIEWS THE CEO'S ACCOMPLISHMENTS, CREDIT UNION FINANCIAL POSITION, OTHER EXECUTIVE SALARIES AND INDUSTRY COMPENSATION SURVEYS FOR RANGES IN LIKE POSITIONS WITHIN THE INDUSTRY IN DETERMINING THE APPROPRIATE SALARY. THE SALARY AND COMPENSATION OF OTHER OFFICERS OF THE ORGANIZATION ARE DETERMINED BY THE CEO AND CHIEF ADMINISTRATIVE OFFICER. COMPENSATION LEVELS ARE DETERMINED THROUGH THE USE OF THIRD PARTY VENDORS THAT SUPPLY INDUSTRY COMPENSATION INFORMATION FOR LIKE ORGANIZATIONS BY ASSET SIZE AND REGIONAL COMPENSATION TRENDS. MINIMUM AND MAXIMUM COMPENSATION RANGES ARE ESTABLISHED FOR EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST TO MEMBERS OF THE ORGANIZATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 226,730. PRIOR YEAR - OTHER ADJUSTMENTS -1,713. TOTAL TO FORM 990, PART XI, LINE 5: 225,017. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. AMERICAN FIRST FINANCIAL SERVICES INC 700 NORTH HARBOR BLVD LA HABRA CA 90631 330820079 FINANCIAL SERVICES CA AMERICAN FIRST CREDIT UNION C 3374 2823 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 AMERICAN FIRST FINANCIAL SERVICES M AMOUNT BELOW REPORTING THRESHOLD AMERICAN FIRST FINANCIAL SERVICES N AMOUNT BELOW REPORTING THRESHOLD