2011-11-08T16:44:47-06:00 2010-12-31 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2010-01-01 952513485 FIRST ENTERTAINMENT CREDIT UNION FIRS 8888003328 6735 FOREST LAWN DRIVE HOLLYWOOD CA 90068 LISA LANDT 8888003328 2011-11-08 1 VALENTINO CREUS CPA 8189549700 2010 2016-02-24 21:20:13Z LISA LANDT 6735 FOREST LAWN DRIVE HOLLYWOOD CA 90068 74130156 0 X WWW.FIRSTENT.ORG X CREDIT UNION 1967 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 171 15 320516 -219058 0 0 35198584 36561627 8367166 5982627 325030 49882 43890780 42594136 0 0 0 0 10160275 10980406 0 0 0 36409346 25415341 46569621 36395747 -2678841 6198389 775414122 826651254 707570826 751789496 67843296 74861758 X FIRST ENTERTAINMENT 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, FIRST ENTERTAINMENT 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 FIRST ENTERTAINMENT CREDIT UNION OFFERS ITS MEMBERS A VARIETY OF SAVINGS PROGRAMS INCLUDING MONEY MARKET ACCOUNTS, TERM SAVINGS CERTIFICATES, AND IRAS. FIRST ENTERTAINMENT CREDIT UNION MEMBERS HAVE ACCESS TO A VARIETY OF LOAN PRODUCTS INCLUDING PERSONAL AND AUTO LOANS AND A COMPREHENSIVE PORTFOLIO OF REAL ESTATE LOANS. FIRST ENTERTAINMENT CREDIT UNION MEMBERS ENJOY FREE ONLINE ACCOUNT ACCESS AS WELL AS A VARIETY OF ADDITIONAL MEMBER ONLY BENEFITS. 0 0 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 1 25004 0 1 171 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X LAN BOUGHTON 3238454447 6735 FOREST LAWN DRIVE HOLLYWOOD CA 90068 LUCY WANDER-PERNA 1.00 X 0 0 0 MICHAEL EDWARDS 1.00 X 0 0 0 DENNIS TANGE 1.00 X 0 0 0 IRWIN JACOBSON 1.00 X 0 0 0 ANDREW BENSON 1.00 X 0 0 0 GARI ANN DOUGLASS 1.00 X 0 0 0 STEVE RAYNES 1.00 X 0 0 0 AKIHIKO WASHINGTON 1.00 X 0 0 0 HOWARD WELINSKY 1.00 X 0 0 0 CHARLES BRUEN 40.00 X 420050 0 363974 LISA LANDT 40.00 X 227819 0 34611 ROY MACKINNON 40.00 X 173132 0 34852 MICHAEL SHOEMAKER 40.00 X 173594 0 19851 JAMES MARCELLINO 40.00 X 170564 0 27267 LINDA MANSHIP 40.00 X 160110 0 17679 MICHELLE FRATTOLIN 40.00 X 147926 0 15425 DANIEL GUSHUE 40.00 X 186782 0 29007 DAN KINNE 40.00 X 119595 0 25518 KAREN WILLIS 40.00 X 113775 0 16902 LAN BOUGHTON 40.00 X 114230 0 21097 DEREK WATKINS 40.00 X 123320 0 17019 KAARON WILLIAMS 40.00 X 112240 0 17031 2243137 0 640233 14 0 1 0 0 INTEREST ON LOANS 522100 28767779 28767779 FEES & CHARGES 522100 6177039 5856523 320516 OTHER MEMBER INCOME 522100 1195905 1195905 SERVICED LOAN INCOME 522100 265682 265682 LOAN SALES 522100 155222 155222 36561627 5779071 5779071 31739576 31536020 203556 203556 203556 URNEALIZED GAIN ON INS 522100 49882 49882 49882 42594136 42273620 320516 0 2243137 5917640 973698 1213425 632506 129533 40872 554456 1254340 2806065 1254838 374122 6087931 1232651 1194416 PROVISION FOR LOAN & LE 6152926 VISA AND DEBIT CARD EXP 1920010 NCUSIF STABILIZATION EX 925626 ATM EXPENSES 873728 LOAN SERVICING 535442 78385 36395747 5701084 5432408 51508252 46336375 23031802 13258894 10419344 9772908 154075822 199023556 542781003 548727518 10928617 17358489 775414122 826651254 3710020 4465248 703860806 747324248 707570826 751789496 X 0 0 0 0 67843296 74861758 67843296 74861758 775414122 826651254 X 6198389 820073 X X 0 1 1 X 0 2500 1 CALIFORNIA CREDIT UNION LEAGUE 1201 K STREET 1050 SACRAMENTO CA 95814 940357265 2500 1097000 1097000 9334900 3748824 5586076 2449715 1383401 1066314 8310641 6579192 1731449 1839546 1547477 292069 9772908 HELD TO MATURITY SECURITIES 824297 C DEPOSITS IN COMMERICAL BANKS 4018000 C LOANS AND INVESTMENTS 448000 C LOANS AND LEASES 536478972 C NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 6958249 C 548727518 MEMBER DEPOSITS 747324248 747324248 42594136 36395747 6198389 750781 69292 820073 7018462 PART XI, LINE 8 - OTHER ADJUSTMENTS: ADJUSTMENT TO ACCUMULATED OTHER COMPREHESIVE INCOME IN THE AMOUNT OF $69,292. X 1 1 X X X X 0 1 0 CHARLES BRUEN 288731 0 75000 0 56319 0 344879 0 19095 0 784024 0 0 0 LISA LANDT 185940 0 30000 0 11879 0 21389 0 13222 0 262430 0 0 0 ROY MACKINNON 133133 0 21000 0 18999 0 15757 0 19095 0 207984 0 0 0 MICHAEL SHOEMAKER 139950 0 21000 0 12644 0 16079 0 3772 0 193445 0 0 0 JAMES MARCELLINO 136030 0 23000 0 11534 0 15997 0 11270 0 197831 0 0 0 LINDA MANSHIP 129150 0 19000 0 11960 0 13548 0 4131 0 177789 0 0 0 MICHELLE FRATTOLIN 128428 0 19000 0 498 0 7760 0 7665 0 163351 0 0 0 DANIEL GUSHUE 155986 0 25000 0 5796 0 9912 0 19095 0 215789 0 0 0 CHARLES BRUEN CHIEF EXEC. OFFICER BOARD MBR OF CLEARPOINT FINANCIAL - AMOUNT OF TRANSACTION IS BELOW THE REPORTING THRESHOLD 0 FORM 990, PART VI, SECTION A, LINE 6 FIRST ENTERTAINMENT 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. FIRST ENTERTAINMENT CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF FIRST ENTERTAINMENT 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 PRESENTED TO THE BOARD DURING ONE OF ITS BOARD MEETINGS. THE APPROVAL FOR FILING IS THEN DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES, BOARD AND VOLUNTEERS ARE REQUIRED TO REPORT KNOWN CONFLICTS OF INTEREST. EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY AT THE TIME OF HIRE AND ANNUALLY AT THE BEGINNING OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONDUCTS AN EXECUTIVE COMMITTEE SESSION TO DETERMINE SALARY OF THE PRESIDENT/CEO. FIRST ENTERTAINMENT CREDIT UNION ALSO HAS A COMPENSATION SYSTEM THAT COMPARES SALARIES BASED ON OTHER CREDIT UNIONS, THEIR ASSET SIZE AND GEOGRAPHIC LOCATION. FIRST ENTERTAINMENT CREDIT UNION USES RANGES FOR ALL OF THEIR POSITIONS. EACH POSITION IS THEN CAREFULLY REVIEWED. FORM 990 PART VI SECTION B LINE 15B: THE CEO EVALUATES EACH SENIOR EXECUTIVE POSITION IN ACCORDANCE WITH FIRST ENTERTAINMENT CREDIT UNION'S COMPENSATION GUIDELINES, THE COMPENSATION SYSTEM AND BASED ON THEIR OVERALL PERFORMANCE AS ASSESSED DURING THE FORMAL EVALUATION PROCESS WHICH IS CONDUCTED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 FIRST ENTERTAINMENT CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 750,781. OTHER COMPREHENSIVE INCOME 69,292. TOTAL TO FORM 990, PART XI, LINE 5: 820,073. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. MEDIA BENEFITS CORP 6735 FOREST LAWN DR SUITE 300 HOLLYWOOD CA 90068 953974685 SALES (INACTIVE) CA FIRST ENT CU C 329 105066 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MEDIA BENEFITS CORP