FURP.ORG / PUBLIC DATA EXPLORER

ARROWHEAD CENTRAL CREDIT UNION: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
ARROWHEAD CENTRAL CREDIT UNION (EIN 95-1682200)
Tax period
2010-01-01 to 2010-12-31
Filed
2011-11-15
IRS object ID
201103199349306685
Schema version
2010v3.4
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Timestamp2011-11-15T14:23:33-06:00Timestamp
Tax Period End Date2010-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1TURNER WARREN HWANG & CONRAD ACCTCYBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1100 NORTH FIRST ST STE 202AddressLine1
CityBURBANKCity
StateCAState
ZIP Code91502ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2010-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN951682200EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1ARROWHEAD CENTRAL CREDIT UNIONBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlARRONameControl
Phone9093796572Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 735AddressLine1
CitySAN BERNARDINOCity
StateCAState
ZIP Code92402ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameJASON M HOWARDName
TitleCONTROLLERTitle
Phone9093796832Phone
Date Signed2011-11-14DateSigned
Authorize Third Party1AuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameVALENTINO CREUS CPAName
Phone8189549700Phone
FieldValueIRS element (for citing)
Tax Year2010TaxYear
Build TS2016-03-07 17:11:31ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonJASON M HOWARDNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line1PO BOX 735AddressLine1
CitySAN BERNARDINOCity
StateCAState
ZIP Code92402ZIPCode
FieldValueIRS element (for citing)
Gross Receipts84533036GrossReceipts
Group Return For Affiliates0GroupReturnForAffiliates
Organization501cXOrganization501c
Web SiteWWW.ARROWHEADCU.ORGWebSite
Type Of Organization OtherXTypeOfOrganizationOther
Type Of Org Other DescriptionCREDIT UNIONTypeOfOrgOtherDescription
Year Formation1949YearFormation
State Legal DomicileCAStateLegalDomicile
Activity Or Mission DescriptionA COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.ActivityOrMissionDescription
Nbr Voting Members Governing Body1NbrVotingMembersGoverningBody
Nbr Independent Voting Members1NbrIndependentVotingMembers
Total Nbr Employees540TotalNbrEmployees
Total Nbr Volunteers0TotalNbrVolunteers
Total Gross UBI993428TotalGrossUBI
Net Unrelated Business Txbl Income-1443497NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year0ContributionsGrantsPriorYear
Contributions Grants Current Year0ContributionsGrantsCurrentYear
Program Service Revenue Prior Year36838301ProgramServiceRevenuePriorYear
Program Service Revenue CY83283232ProgramServiceRevenueCY
Investment Income Prior Year59909122InvestmentIncomePriorYear
Investment Income Current Year-831747InvestmentIncomeCurrentYear
Other Revenue Prior Year1075790OtherRevenuePriorYear
Other Revenue Current Year720013OtherRevenueCurrentYear
Total Revenue Prior Year97823213TotalRevenuePriorYear
Total Revenue Current Year83171498TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year0GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY0GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year29898191SalariesEtcPriorYear
Salaries Etc Current Year21245378SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year114997940OtherExpensePriorYear
Other Expenses Current Year65508464OtherExpensesCurrentYear
Total Expenses Prior Year144896131TotalExpensesPriorYear
Total Expenses Current Year86753842TotalExpensesCurrentYear
Revenues Less Expenses Prior Year-47072918RevenuesLessExpensesPriorYear
Revenues Less Expenses CY-3582344RevenuesLessExpensesCY
Total Assets BOY843172779TotalAssetsBOY
Total Assets EOY680446929TotalAssetsEOY
Total Liabilities BOY820548313TotalLiabilitiesBOY
Total Liabilities EOY660909136TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY22624466NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY19537793NetAssetsOrFundBalancesEOY
Info In Schedule O Part IIIXInfoInScheduleOPartIII
Mission DescriptionA 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, ARROWHEAD CENTRAL 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.MissionDescription
Significant New Program Services0SignificantNewProgramServices
Significant Change0SignificantChange
DescriptionFINANCIAL SERVICES TO SOUTHERN CALIFORNIA - AT DECEMBER 31, 2010 WE HAD 132,932 MEMBERS, 33,573 LOANS, AND 188,597 SHARE ACCOUNTS.Description
Described In501 C30DescribedIn501C3
Schedule B Required0ScheduleBRequired
Political Activities0PoliticalActivities
Subject To Proxy Tax0SubjectToProxyTax
Donor Advised Funds0DonorAdvisedFunds
Conservation Easements0ConservationEasements
Collections Of Art0CollectionsOfArt
Credit Counseling0CreditCounseling
Term Or Permanent Endowments0TermOrPermanentEndowments
Report Land Bldg Equip1ReportLandBldgEquip
Report Invest Oth Securities0ReportInvestOthSecurities
Report Prog Rel Invest1ReportProgRelInvest
Report Other Assets0ReportOtherAssets
Report Other Liabilities1ReportOtherLiabilities
Report Fin48 Footnote1ReportFin48Footnote
Independent Audit Financial Stmt0IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt1ConsolidatedAuditFinancialStmt
School0School
Foreign Office0ForeignOffice
Foreign Activities0ForeignActivities
More Than5000 K To Organizations0MoreThan5000KToOrganizations
More Than5000 K To Individuals0MoreThan5000KToIndividuals
Professional Fundraising0ProfessionalFundraising
Fundraising Activities0FundraisingActivities
Gaming0Gaming
Hospital0Hospital
Grants To Organizations0GrantsToOrganizations
Grants To Individuals0GrantsToIndividuals
Schedule J Required1ScheduleJRequired
Tax Exempt Bonds0TaxExemptBonds
Loan To Officer Or DQP1LoanToOfficerOrDQP
Grant To Related Person0GrantToRelatedPerson
Bsnss Rltnshp With Organization0BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member0BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp0OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions0DeductibleNonCashContributions
Deductible Contributions Of Art0DeductibleContributionsOfArt
Terminated0Terminated
Partial Liquidation0PartialLiquidation
Disregarded Entity0DisregardedEntity
Related Entity1RelatedEntity
Related Org Controlled Entity1RelatedOrgControlledEntity
Transaction Related Entity0TransactionRelatedEntity
Activities Conducted Partnership0ActivitiesConductedPartnership
Schedule O Required1ScheduleORequired
Number Forms Transmitted With109620853NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Compliance With Backup Witholding1ComplianceWithBackupWitholding
Number Of Employees540NumberOfEmployees
Employment Tax Returns Filed1EmploymentTaxReturnsFiled
Unrelated Business Income1UnrelatedBusinessIncome
Form990-T Filed1Form990-TFiled
Foreign Financial Account0ForeignFinancialAccount
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTrans
Taxable Party Notification0TaxablePartyNotification
Non Deductible Contributions0NonDeductibleContributions
Quid Pro Quo Contributions0QuidProQuoContributions
Form8282 Property Disposed Of0Form8282PropertyDisposedOf
Indoor Tanning Services0IndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members1NbrVotingGoverningBodyMembers
Number Independent Voting Members1NumberIndependentVotingMembers
Family Or Business Relationship0FamilyOrBusinessRelationship
Delegation Of Management Duties1DelegationOfManagementDuties
Changes To Organizing Docs0ChangesToOrganizingDocs
Material Diversion Or Misuse0MaterialDiversionOrMisuse
Members Or Stockholders1MembersOrStockholders
Election Of Board Members1ElectionOfBoardMembers
Decisions Subject To Approval1DecisionsSubjectToApproval
Minutes Of Governing Body1MinutesOfGoverningBody
Minutes Of Committees1MinutesOfCommittees
Officer Mailing Address0OfficerMailingAddress
Local Chapters1LocalChapters
Policies Reference Chapters1PoliciesReferenceChapters
Form990 Provided To Governing Body0Form990ProvidedToGoverningBody
Conflict Of Interest Policy1ConflictOfInterestPolicy
Annual Disclosure Covered Persons1AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement1RegularMonitoringEnforcement
Whistleblower Policy1WhistleblowerPolicy
Document Retention Policy1DocumentRetentionPolicy
Compensation Process CEO1CompensationProcessCEO
Compensation Process Other1CompensationProcessOther
Investment In Joint Venture0InvestmentInJointVenture
States Where Copy Of Return Is FiledCAStatesWhereCopyOfReturnIsFiled
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

FieldValueIRS element (for citing)
Business Name Line1JASON M HOWARDBusinessNameLine1
FieldValueIRS element (for citing)
Telephone Number9093796832TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line1550 EAST HOSPITALITY LANE STE 200AddressLine1
CitySAN BERNARDINOCity
StateCAState
ZIP Code92408ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (9 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekOfficerOfficerReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationKey EmployeeKeyEmployeeHighest Compensated EmployeeHighestCompensatedEmployee
LARRY SHARP
PRESIDENT/CEO (FORMER)40.00X276548012988
DANIEL MARCIANTE
CFO (FORMER)40.00X143078011248
JASON HOWARD
CONTROLLER40.00X765300
VAUGHN BOOK
CHIEF INFORMATION OFFICER40.0021295506268X
NANCY HANNAH
SUPPORT SERVICES DIRECTOR40.0015867800X
RONALD SKAGGS
FACILITIES DIRECTOR40.0015106109749X
ELSA MONTES
MARKETING DIRECTOR40.0013441405076X
AARON BITRAN
REGISTERED INVESTMENT REP40.0012344604137X
MAX ARBOLIDA
HR DIRECTOR40.0012274004524X
FieldValueIRS element (for citing)
Total Reportable Comp From Org1330573TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation53990TotalOtherCompensation
Number Individuals GT100 K16NumberIndividualsGT100K
Formers Listed0FormersListed
Total Comp GT150 K1TotalCompGT150K
Compensation From Other Sources0CompensationFromOtherSources

Contractor Compensation ContractorCompensation (4 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1CityAddressOfContractor/AddressUS/CityStateAddressOfContractor/AddressUS/StateZIP CodeAddressOfContractor/AddressUS/ZIPCodeDescription Of ServicesDescriptionOfServicesCompensationCompensation
SOLOMON GRINDLE SILVERMAN & WINTRINGER
12651 HIGH BLUFF DRIVE SUITE 300SAN DIEGOCA92130LEGAL375000
ONLINE RESOURCES
PO BOX 630139BALTIMOREMD21263MEMBER ONLINE SVCS329000
DIEBOLD
PO BOX 643543PITTSBURGHPA15264ATM MAINTENANCE264000
JACK HENRY & ASSOCIATES
PO BOX 503328ST LOUISMO63150CORE SYSTEM240000
FieldValueIRS element (for citing)
Number Of Contractors GT100 K4NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (3 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncomeUnrelated Business RevenueUnrelatedBusinessRevenue
INTEREST ON LOANS5221004646190146461901
FEE INCOME5221002732098426327556993428
OTHER OPERATING INCOME52210095003479500347
FieldValueIRS element (for citing)
Total Program Service Revenue83283232TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column529791TotalRevenueColumn
Related Or Exempt Function Income529791RelatedOrExemptFunctionIncome

Gross Rents GrossRents

FieldValueIRS element (for citing)
Real720013Real

Rental Income Or Loss RentalIncomeOrLoss

FieldValueIRS element (for citing)
Real720013Real

Net Rental Income Or Loss NetRentalIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column720013TotalRevenueColumn
Related Or Exempt Function Income720013RelatedOrExemptFunctionIncome

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

FieldValueIRS element (for citing)
Other1361538Other

Gain Or Loss GainOrLoss

FieldValueIRS element (for citing)
Other-1361538Other

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column-1361538TotalRevenueColumn
Related Or Exempt Function Income-1361538RelatedOrExemptFunctionIncome

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column83171498TotalRevenueColumn
Related Or Exempt Function Income82178070RelatedOrExemptFunctionIncome
Unrelated Business Revenue993428UnrelatedBusinessRevenue
Exclusion$0ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total1330573Total

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total16428683Total

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total689962Total

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total1256956Total

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total1539204Total

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total624640Total

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total91180Total

Fees For Services Other FeesForServicesOther

FieldValueIRS element (for citing)
Total1260355Total

Advertising Advertising

FieldValueIRS element (for citing)
Total317627Total

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total9644931Total

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total1274581Total

Occupancy Occupancy

FieldValueIRS element (for citing)
Total4345109Total

Travel Travel

FieldValueIRS element (for citing)
Total126652Total

Interest Interest

FieldValueIRS element (for citing)
Total3277328Total

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total1990951Total

Insurance Insurance

FieldValueIRS element (for citing)
Total1956112Total

Other Expenses OtherExpenses (4 entries)

DescriptionDescriptionTotalTotal
PROV FOR LOAN LOSSES36163714
MISC OPERATING EXPENSES2418329
LOAN SERVICING EXPENSE1930784
OPERATING FEES86171

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total86753842Total

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY119954486BOY
EOY117858700EOY

Receivables From Officers Etc ReceivablesFromOfficersEtc

FieldValueIRS element (for citing)
BOY463268BOY
EOY424805EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY1402202BOY
EOY990935EOY
FieldValueIRS element (for citing)
Land Buildings Equipment Basis38944306LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec24739381LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY18956050BOY
EOY14204925EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

FieldValueIRS element (for citing)
BOY18402345BOY
EOY17752306EOY

Investments Program Related InvestmentsProgramRelated

FieldValueIRS element (for citing)
BOY663559941BOY
EOY509724258EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY20434487BOY
EOY19491000EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY843172779BOY
EOY680446929EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY8464668BOY
EOY19741593EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY812083645BOY
EOY641167543EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY820548313BOY
EOY660909136EOY
FieldValueIRS element (for citing)
Do Not Follow SFAS117XDoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

FieldValueIRS element (for citing)
BOY22624466BOY
EOY19537793EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY22624466BOY
EOY19537793EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY843172779BOY
EOY680446929EOY
FieldValueIRS element (for citing)
Info In Schedule O Part XIXInfoInScheduleOPartXI
Reconcilation Revenue Expenses-3582344ReconcilationRevenueExpenses
Reconcilation Other Changes495671ReconcilationOtherChanges
Info In Schedule O Part XIIXInfoInScheduleOPartXII
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or Review0AccountantCompileOrReview
FS Audited1FSAudited
Audit Committee1AuditCommittee
Financial Statement ConsolidatedXFinancialStatementConsolidated
Federal Grant Audit Required0FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Land Land

FieldValueIRS element (for citing)
Other Cost Or Other Basis6398602OtherCostOrOtherBasis
Book Value6398602BookValue

Buildings Buildings

FieldValueIRS element (for citing)
Other Cost Or Other Basis9863889OtherCostOrOtherBasis
Depreciation4134819Depreciation
Book Value5729070BookValue

Leasehold Improvements LeaseholdImprovements

FieldValueIRS element (for citing)
Other Cost Or Other Basis2481885OtherCostOrOtherBasis
Depreciation2353468Depreciation
Book Value128417BookValue

Equipment Equipment

FieldValueIRS element (for citing)
Other Cost Or Other Basis16853147OtherCostOrOtherBasis
Depreciation15275246Depreciation
Book Value1577901BookValue

Other Land Buildings OtherLandBuildings

FieldValueIRS element (for citing)
Other Cost Or Other Basis3346783OtherCostOrOtherBasis
Depreciation2975848Depreciation
Book Value370935BookValue
FieldValueIRS element (for citing)
Total Of Book Value Land Buildings14204925TotalOfBookValueLandBuildings

Investments Program Related InvestmentsProgramRelated (3 entries)

DescriptionDescriptionBook ValueBookValueMethod Of ValuationMethodOfValuation
ALL OTHER INVESTMENT5268324F
NET LOANS TO MEMBERS500819334F
FEDERAL HOME LOAN BANK STOCK3636600F
FieldValueIRS element (for citing)
Total Of Book Value Program Related509724258TotalOfBookValueProgramRelated

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescriptionAmountAmount
BORROWED FUNDS$2,207,959
MEMBERS' SHARE & SAVINGS ACCOUNTS$638,959,584
FieldValueIRS element (for citing)
Total Of Amounts641167543TotalOfAmounts

Form990 Schedule D Part XIV Form990ScheduleDPartXIV

FieldValueIRS element (for citing)
IdentifierDESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:Identifier
Return ReferencePART X:ReturnReference
ExplanationFASB 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. AT DECEMBER 31, 2010, 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 DECEMBER 31, 2010, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION.Explanation

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Travel For CompanionsXTravelForCompanions
Club Dues Or FeesXClubDuesOrFees
Written Policy Re T And E Expenses1WrittenPolicyReTAndEExpenses
Substantiation Required1SubstantiationRequired
Compensation CommitteeXCompensationCommittee
Compensation SurveyXCompensationSurvey
Board Or Committee ApprovalXBoardOrCommitteeApproval
Severance Payment0SeverancePayment
Supplemental Nonqual Retire Plan0SupplementalNonqualRetirePlan
Equity Based Comp Arrangement0EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)

Base Compensation Filing OrgBaseCompensationFilingOrgComp Based On Related OrgsCompBasedOnRelatedOrgsBonus Filing OrgBonusFilingOrgBonus Related OrgsBonusRelatedOrgsOther Compensation Filing OrgOtherCompensationFilingOrgOther Compensation Related OrgsOtherCompensationRelatedOrgsDeferred Comp Filing OrgDeferredCompFilingOrgDeferred Comp Related OrgsDeferredCompRelatedOrgsNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgNontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgsTotal Compensation Filing OrgTotalCompensationFilingOrgTotal Compensation Related OrgsTotalCompensationRelatedOrgsComp Report Prior990 Filing OrgCompReportPrior990FilingOrgComp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs
LARRY SHARP
2719650004583000129880289536000
DANIEL MARCIANTE
1398020003276000112480154326000
VAUGHN BOOK
209675000328000062680219223000
NANCY HANNAH
158678000000000158678000
RONALD SKAGGS
151061000000097490160810000

Schedule L IRS990ScheduleL

Loan Table LoanTable (3 entries)

Purpose Of LoanPurposeOfLoanLoan From OrganizationLoanFromOrganizationOriginal PrincipalOriginalPrincipalAmountBalance DueBalanceDueDefaultDefaultApproved By BoardApprovedByBoardWritten AgreementWrittenAgreement
NANCY HANNAH
1ST MORTGAGEX$410,400177795011
NANCY HANNAH
2ND MORTGAGEX$50,00035012011
ELSA MONTES
1ST MORTGAGEX$250,000211998011
FieldValueIRS element (for citing)
Total Balance Due424805TotalBalanceDue

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (10 entries)

IdentifierIdentifierExplanationExplanationReturn ReferenceReturnReference
FORM 990, PART VI, SECTION A, LINE 3AND FORM 990, PART I, LINE 6: CONSERVATORSHIP: EFFECTIVE JUNE 25, 2010, IN ACCORDANCE WITH THE FEDERAL CREDIT UNION ACT, THE NCUA BOARD PLACED THE CREDIT UNION UNDER CONSERVATORSHIP AND APPOINTED ITSELF AS CONSERVATOR. UPON ITS APPOINTMENT, THE CONSERVATOR IMMEDIATELY SUCCEEDED TO ALL RIGHTS, TITLES, POWERS AND PRIVILEGES OF THE CREDIT UNION, AND OF ANY MEMBER, OFFICER, OR DIRECTOR WITH RESPECT TO THE CREDIT UNION AND ITS ASSETS AND BEGAN CONDUCTING ALL BUSINESS OF THE CREDIT UNION. THE NCUA BOARD APPOINTED A PRINCIPAL AGENT AND SEVERAL SUB-AGENTS. IN ADDITION, THE CONSERVATOR HAS APPOINTED A CHIEF EXECUTIVE OFFICER AND OTHER MANAGEMENT TO CONDUCT DAY-TO-DAY OPERATIONS. THE CONSERVATORSHIP HAS NO SPECIFIC TERMINATION DATE, AND THERE ARE NO ASSURANCES AS TO WHEN OR HOW IT WILL BE TERMINATED OR WHAT THE CREDIT UNION'S BUSINESS STRUCTURE WILL BE FOLLOWING THE CONSERVATORSHIP. MEMBERS HAVE RECEIVED ASSURANCE FROM THE PRINCIPAL AGENT THAT THE SAFETY OF SAVINGS AND CUSTOMARY ARRAY OF SERVICES WILL NOT BE AFFECTED. MAINTAINING CONTINUED NORMAL OPERATIONS OF ALL CORE SERVICES IS A PARAMOUNT OBJECTIVE. MANAGEMENT IS ACTIVELY OPERATING UNDER A STRATEGIC PLAN TO RESTORE THE NET WORTH OF THE CREDIT UNION.
FORM 990, PART VI, SECTION A, LINE 6ARROWHEAD CENTRAL 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. ARROWHEAD CENTRAL CREDIT UNION DOES NOT HAVE STOCKHOLDERS.
FORM 990, PART VI, SECTION A, LINE 7ATHE GOVERNING BOARD OF ARROWHEAD CENTRAL CREDIT UNION OF ARROWHEAD CENTRAL 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. AS OF JUNE 25, 2010, ARROWHEAD CENTRAL CREDIT UNION IS UNDER CONSERVATORSHIP BY THE NCUA. PURSUANT TO THE CONSERVATORSHIP, THE BOARD MEMBERS WERE REMOVED AND REPLACED BY A SINGLE AGENT ACTING ON BEHALF OF THE NCUA.
FORM 990, PART VI, SECTION A, LINE 7BAT 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. AS OF JUNE 25, 2010, ARROWHEAD CENTRAL CREDIT UNION IS UNDER CONSERVATORSHIP BY THE NCUA. PURSUANT TO THE CONSERVATORSHIP, THE BOARD MEMBERS WERE REMOVED AND REPLACED BY A SINGLE AGENT ACTING ON BEHALF OF THE NCUA.
FORM 990, PART VI, SECTION B, LINE 11THE RETURN PREPARER E-MAILS A DRAFT OF THE FORM 990 TO THE ORGANIZATION'S CONTROLLER FOR HIS REVIEW. THE CONTROLLER AND ANY DESIGNATED INDIVIDUAL(S) REVIEW THE DRAFT AND PRESENT ANY QUESTIONS, COMMENTS, OR CORRECTIONS TO THE RETURN PREPARER. UPON SATISFACTORY COMPLETION OF THE FORM 990, THE ORGANIZATION'S AUTHORIZED INDIVIDUAL SIGNS THE APPROPRIATE SIGNATURE FORM(S) TO AUTHORIZE THE ELECTRONIC FILING OF THE RETURN. A COPY OF THE FORM 990, AS FILED, IS PROVIDED BY THE RETURN PREPARER TO THE ORGANIZATION'S CEO OR OTHER DESIGNATED INDIVIDIUAL(S).
FOR DIRECTORS, THE VOLUNTEER CODE OF PERSONAL AND BUSINESS CONDUCT (POLICY 1.16) (12 PAGES) REQUIRES ANNUAL, AT A MINIMUM, WRITTEN ACKNOWLEDGEMENT AND DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST. FOR OFFICERS AND KEY EMPLOYEES, THE EMPLOYEE HANDBOOK, GENERAL POLICIES, CODE OF PERSONAL AND BUSINESS CONDUCT (13 PAGES) REQUIRES DISCLOSURE OF OUTSIDE INTERESTS WHENEVER AN ACTIVITY MAY BE CONTRARY TO THE BEST INTEREST OF THE CREDIT UNION. ALL EMPLOYEES ARE REQUIRED TO SIGN A WRITTEN ACKNOWLEDGEMENT OF THE RECEIPT OF THE CODE OF PERSONAL AND BUSINESS CONDUCT AND OF ANY SUBSEQUENT CHANGES THERTO. VIOLATIONS MAY SUBJECT THE EMPLOYEE TO DISCIPLINARY MEASURES, UP TO AND INCLUDING TERMINATION.FORM 990, PART VI, SECTION B, LINE 12C
THE COMPENSATION COMMITTEE IS APPOINTED BY THE BOARD OF DIRECTORS. THE COMMITTEE GATHERS SALARY DATA AND OTHER DATA FROM OUTSIDE SOURCES. AFTER ANALYSIS AND REVIEW, THE COMMITTEE MAKES A SALARY RECOMMENDATION TO THE BOARD OF DIRECTORS. THE BOARD VOTES ON THE RECOMMENDATION, ALL OF WHICH IS DOCUMENTED IN NORMAL MEETING MINUTES. THE PRESIDENT ASSESSES THE PERFORMANCE OF THE OFFICERS AS MEASURED AGAINST ORGANIZATION METRICS WHICH MAY INCLUDE NET WORTH, EXPENSE RATIO, CAMEL RATING, AND ROA. MERIT INCREASES ARE ADMINISTERED IN ACCORDANCE WITH COMPENSATION GUIDELINES APPROVED BY THE BOARD OF DIRECTORS.FORM 990, PART VI, SECTION B, LINE 15
THE NCUA 5300 CALL REPORT IS AVAILABLE TO THE PUBLIC ON THE NCUA WEBSITE. THE CREDIT UNION'S FINANCIALS ARE POSTED AT EACH BRANCH LOCATION. ANY MEMBER MAY REQUEST TO SEE BOARD MEETING MINUTES.FORM 990, PART VI, SECTION C, LINE 19
CHANGES IN NET ASSETS OR FUND BALANCES:CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME 495,671. TOTAL TO FORM 990, PART XI, LINE 5: 495,671.FORM 990, PART XI, LINE 5:
THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.FORM 990, PART XII, LINE 2C:

Schedule R IRS990ScheduleR

Form990 Schedule R Part III Form990ScheduleRPartIII (2 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeEINEINPrimary ActivityPrimaryActivityLegal Domicile StateLegalDomicileStateBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Predominant Income TypePredominantIncomeTypeShare Of Total IncomeShareOfTotalIncomeShare Of EOY AssetsShareOfEOYAssetsDisproportionate AllocationsDisproportionateAllocationsGeneral Or Managing PartnerGeneralOrManagingPartnerPercentage OwnershipPercentageOwnership
MEMBERS BUSINESS SERVICES LLC
202 EAST AIRPORT DRIVESAN BERNARDINOCA92408421562695SERVICE BUREAUCAARROWHEAD CENTRAL CREDIT UNIONUNRELATED30117581049787010.73000
OCTARR CU VENTURES LLC
550 E HOSPITALITY DRIVE STE 200SAN BERNARDINOCA92408421645486FINANCIAL SERVICESCAARROWHEAD CENTRAL CREDIT UNIONUNRELATED8279016670419010.50000

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

FieldValueIRS element (for citing)
Business Name Line1ARROWHEAD FINANCIAL GROUP INC AND SUBSIDIARIESBusinessNameLine1

Address US AddressUS

FieldValueIRS element (for citing)
Address Line1550 E HOSPITALITY LANEAddressLine1
CitySAN BERNARDINOCity
StateCAState
ZIP Code92408ZIPCode
FieldValueIRS element (for citing)
EIN330082959EIN
Primary ActivityINSURANCEPrimaryActivity
Legal Domicile StateCALegalDomicileState

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1ARROWHEAD CENTRAL CREDIT UNIONBusinessNameLine1
FieldValueIRS element (for citing)
Type Of EntityCTypeOfEntity
Share Of Total Income861779ShareOfTotalIncome
Share Of EOY Assets1259924ShareOfEOYAssets
Percentage Ownership1.00000PercentageOwnership
FieldValueIRS element (for citing)
Receipt Of Int Ann Rents Royalties1ReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other Org0GiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other Org0GiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other Org0LoansOrGuaranteesFromOtherOrg
Sale Of Assets To Other Org0SaleOfAssetsToOtherOrg
Purchase Of Assets From Other Org0PurchaseOfAssetsFromOtherOrg
Exchange Of Assets0ExchangeOfAssets
Rental Of Facilities To Other Orgs0RentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other Orgs0RentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other Orgs0PerformOfServicesForOtherOrgs
Perform Of Services By Other Orgs1PerformOfServicesByOtherOrgs
Sharing Of Facilities0SharingOfFacilities
Sharing Of Paid Employees1SharingOfPaidEmployees
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrg
Reimbursement Paid By Other Org1ReimbursementPaidByOtherOrg
Other Transfer To Other Org0OtherTransferToOtherOrg
Other Transfer From Other Org0OtherTransferFromOtherOrg

Transactions Related Orgs Table TransactionsRelatedOrgsTable (4 entries)

Transaction TypeTransactionTypeAmount InvolvedAmountInvolvedMethod Of Amt DeterminationMethodOfAmtDetermination
ARROWHEAD FINANCIAL GROUP
P659754ACTUAL AMOUNT PAID
MEMBERS BUSINESS SERVICES
L1573181ACTUAL AMOUNT PAID
MEMBERS BUSINESS SERVICES
P331749ACTUAL AMOUNT PAID
MEMBERS BUSINESS SERVICES
A74810ACTUAL AMOUNT PAID