PREMIER AMERICA CREDIT UNION: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization
PREMIER AMERICA CREDIT UNION (EIN 95-3442691)
Tax period
2010-01-01 to 2010-12-31
Filed
2011-11-28
IRS object ID
201113329349300121
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)
Timestamp2011-11-28T14:51:11-06:00Timestamp
Tax Period End Date2010-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1RSM MCGLADREY LLCBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1801 NICOLLET MALL SUITE 1100AddressLine1
CityMINNEAPOLISCity
StateMNState
ZIP Code55402ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2010-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN953442691EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1PREMIER AMERICA CREDIT UNIONBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlPREMNameControl
Phone8187724021Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line119867 PRAIRIE STREETAddressLine1
CityCHATSWORTHCity
StateCAState
ZIP Code91311ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameBRAD CUNNINGHAMName
TitleCFOTitle
Phone8187724021Phone
Date Signed2011-11-28DateSigned
Authorize Third Party1AuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameCOLLIN F BUZZELLName
Phone6125738750Phone
FieldValueIRS element (for citing)
Tax Year2010TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonJOHN MERLONameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line119867 PRAIRIE STREETAddressLine1
CityCHATSWORTHCity
StateCAState
ZIP Code91311ZIPCode
FieldValueIRS element (for citing)
Gross Receipts65554306GrossReceipts
Group Return For Affiliates0GroupReturnForAffiliates
Group Exemption Number1526GroupExemptionNumber
Organization501cXOrganization501c
Web SiteWWW.PREMIER.ORGWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation1957YearFormation
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 Body9NbrVotingMembersGoverningBody
Nbr Independent Voting Members8NbrIndependentVotingMembers
Total Nbr Employees276TotalNbrEmployees
Total Nbr Volunteers5TotalNbrVolunteers
Total Gross UBI361972TotalGrossUBI
Net Unrelated Business Txbl Income-104641NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year0ContributionsGrantsPriorYear
Contributions Grants Current Year0ContributionsGrantsCurrentYear
Program Service Revenue Prior Year73835360ProgramServiceRevenuePriorYear
Program Service Revenue CY61877013ProgramServiceRevenueCY
Investment Income Prior Year3063591InvestmentIncomePriorYear
Investment Income Current Year2956750InvestmentIncomeCurrentYear
Other Revenue Prior Year6795875OtherRevenuePriorYear
Other Revenue Current Year417219OtherRevenueCurrentYear
Total Revenue Prior Year83694826TotalRevenuePriorYear
Total Revenue Current Year65250982TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year0GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY0GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year20561304BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY10442601BenefitsPaidToMembersCY
Salaries Etc Prior Year15177804SalariesEtcPriorYear
Salaries Etc Current Year14425866SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year50443021OtherExpensePriorYear
Other Expenses Current Year37508031OtherExpensesCurrentYear
Total Expenses Prior Year86182129TotalExpensesPriorYear
Total Expenses Current Year62376498TotalExpensesCurrentYear
Revenues Less Expenses Prior Year-2487303RevenuesLessExpensesPriorYear
Revenues Less Expenses CY2874484RevenuesLessExpensesCY
Total Assets BOY1346147801TotalAssetsBOY
Total Assets EOY1300705890TotalAssetsEOY
Total Liabilities BOY1236622372TotalLiabilitiesBOY
Total Liabilities EOY1188235673TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY109525429NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY112470217NetAssetsOrFundBalancesEOY
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, PREMIER AMERICA 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
DescriptionTHE ORGANIZATION SUCCESSFULLY INCREASED AND ACHIEVED TARGET DEPOSIT BALANCES, ENCOURAGING AND PROMOTING SAVINGS BY MEMBERS.Description

Activity2 Activity2

FieldValueIRS element (for citing)
DescriptionTHE ORGANIZATION MET MORTGAGE NEEDS OF FIRST TIME HOME BUYERS AT REASONABLY LOW INTEREST RATES BY BECOMING A FNMA MORTAGE LOAN SELLER AND SERVICER.Description

Activity3 Activity3

FieldValueIRS element (for citing)
DescriptionPROVIDED EDUCATIONAL INFORMATION ON DEPOSIT AND LOAN PRODUCTS AS WELL AS CU PRODUCTS SUCH AS HOMEBANKING AND BILL PAY.Description
FieldValueIRS element (for citing)
Described In501 C30DescribedIn501C3
Schedule B Required0ScheduleBRequired
Political Activities1PoliticalActivities
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 Invest0ReportProgRelInvest
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 DQP0LoanToOfficerOrDQP
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 Entity0RelatedOrgControlledEntity
Transaction Related Entity0TransactionRelatedEntity
Activities Conducted Partnership0ActivitiesConductedPartnership
Schedule O Required1ScheduleORequired
Number Forms Transmitted With109660451NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Number Of Employees276NumberOfEmployees
Employment Tax Returns Filed1EmploymentTaxReturnsFiled
Unrelated Business Income1UnrelatedBusinessIncome
Form990-T Filed1Form990-TFiled
Foreign Financial Account0ForeignFinancialAccount
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTrans
Taxable Party Notification0TaxablePartyNotification
Non Deductible Contributions0NonDeductibleContributions
Indoor Tanning Services0IndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members9NbrVotingGoverningBodyMembers
Number Independent Voting Members8NumberIndependentVotingMembers
Family Or Business Relationship0FamilyOrBusinessRelationship
Delegation Of Management Duties0DelegationOfManagementDuties
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 Body1Form990ProvidedToGoverningBody
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 Line1LINDA MARQUEZBusinessNameLine1
FieldValueIRS element (for citing)
Telephone Number8187724021TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line119867 PRAIRIE STREETAddressLine1
CityCHATSWORTHCity
StateCAState
ZIP Code91311ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (19 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorOfficerOfficerReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationKey EmployeeKeyEmployeeHighest Compensated EmployeeHighestCompensatedEmployee
JOHN M MERLO
PRESIDENT/CEO40.00XX500506052601
JOHN DE VERE
CHAIR1.00XX000
NORMAN L ROBERTS
VICE-CHAIR1.00XX68300
ERIC GOLDNER
SECRETARY/TREASURER1.00XX000
LARRY COLSON
DIRECTOR1.00X000
NANCY CHANDLER
DIRECTOR1.00X60100
ROGER LUBIG
DIRECTOR1.00X000
JAMES ANDERSEN
DIRECTOR1.00X000
LAWRENCE S HOKE
DIRECTOR1.00X000
W BRAD CUNNINGHAM
SENIOR VP/CFO40.00X176098011495
TIMOTHY G PAULSON
SENIOR VP/CFO40.00X162976406161
MARJORIE MCNAUGHT
SENIOR VP, LENDING/TECHNOL40.00352984031811X
LIZBETH CONDERCURI
SENIOR VP, OPERATIONS40.003198530401090X
SANA SALEH
SENIOR VP, MEMBER SERVICES40.0023048106774X
JAMES RITTER
VP & MGR, BUSINESS SERVICES40.00161651010803X
KELLY KAREN
INVESTMENT REP/CONSULTANT40.00159464014535X
BILL LORTZ
VP, SYSTEMS & TECHNOLOGY40.0013610409243X
JESUS LOPEZ
INVESTMENT REP/CONSULTANT40.00160456015023X
DONNA MCNEELY
VP, INSURANCE & INVESTMENT SALES40.0014435501346X
FieldValueIRS element (for citing)
Total Reportable Comp From Org3973000TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation560882TotalOtherCompensation
Number Individuals GT100 K15NumberIndividualsGT100K
Formers Listed0FormersListed
Total Comp GT150 K1TotalCompGT150K
Compensation From Other Sources0CompensationFromOtherSources

Contractor Compensation ContractorCompensation (5 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1CityAddressOfContractor/AddressUS/CityStateAddressOfContractor/AddressUS/StateZIP CodeAddressOfContractor/AddressUS/ZIPCodeDescription Of ServicesDescriptionOfServicesCompensationCompensation
ANTHUM BLUE CROSS
DEPARTMENT 5812LOS ANGELESCA900715812EMPLOYEE HEALTH INSURANCE769440
FIDELITY NATIONAL INFORMATION SERVICES
601 S LAKE DESTINY ROAD SUITE 300MAITLANDFL32751CORE COMPUTER SYSTEM & SUPPORT637031
DIGITAL INSIGHT AN INTUIT COMPANY
26025 MUREAU RDCALABASASCA91302HOMEBANKING SERVICE PROVIDER614298
THE MEMBERS GROUP (TMG)
1500 NW 118TH STDES MOINESIA503258242DEBIT/CREDIT CARD SERVICES PROCESSOR586737
KAISER FOUNDATION HEALTH PLAN
PO BOX 80204 WORLD WAY POSTAL CENTELOS ANGELESCA90080EMPLOYEE HEALTH INSURANCE494134
FieldValueIRS element (for citing)
Number Of Contractors GT100 K15NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (5 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncomeUnrelated Business RevenueUnrelatedBusinessRevenue
INCOME FROM MEMBER LOA5221005401353954013539
SERVICE CHARGES & OTHE52210041609713798999361972
INTERCHANGE INCOME52210022069192206919
INVESTMENT BROKERAGE C523000935958935958
OTHER NON-INTEREST INC522100559626559626
FieldValueIRS element (for citing)
Total Program Service Revenue61877013TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column1429571TotalRevenueColumn
Exclusion$1,429,571ExclusionAmount

Gross Rents GrossRents

FieldValueIRS element (for citing)
Real720543Real

Less Rental Expenses LessRentalExpenses

FieldValueIRS element (for citing)
Real303324Real

Rental Income Or Loss RentalIncomeOrLoss

FieldValueIRS element (for citing)
Real417219Real

Net Rental Income Or Loss NetRentalIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column417219TotalRevenueColumn
Exclusion$417,219ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

FieldValueIRS element (for citing)
Securities1527179Securities

Gain Or Loss GainOrLoss

FieldValueIRS element (for citing)
Securities1527179Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column1527179TotalRevenueColumn
Exclusion$1,527,179ExclusionAmount

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column65250982TotalRevenueColumn
Related Or Exempt Function Income61515041RelatedOrExemptFunctionIncome
Unrelated Business Revenue361972UnrelatedBusinessRevenue
Exclusion$3,373,969ExclusionAmount

Benefits To Members BenefitsToMembers

FieldValueIRS element (for citing)
Total10442601Total

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total3349055Total

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total9263220Total

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total304266Total

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total621559Total

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total887766Total

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total284852Total

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total170460Total

Fees For Services Other FeesForServicesOther

FieldValueIRS element (for citing)
Total217420Total

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total3908321Total

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total2089752Total

Royalties Royalties

FieldValueIRS element (for citing)
Total85899Total

Occupancy Occupancy

FieldValueIRS element (for citing)
Total1072128Total

Travel Travel

FieldValueIRS element (for citing)
Total37031Total

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

FieldValueIRS element (for citing)
Total1250Total

Conferences Meetings ConferencesMeetings

FieldValueIRS element (for citing)
Total217514Total

Interest Interest

FieldValueIRS element (for citing)
Total7442758Total

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total632204Total

Insurance Insurance

FieldValueIRS element (for citing)
Total131494Total

Other Expenses OtherExpenses (5 entries)

DescriptionDescriptionTotalTotal
PROVISION FOR LOAN LOSS16755000
MISCELLANEOUS OPERATING1340382
NCUSIF (SHARE INSURANCE1221038
LOAN SERVICING EXPENSE1173784
NCUA CORPORATE STABILIZ695293

All Other Expenses AllOtherExpenses

FieldValueIRS element (for citing)
Total31451Total

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total62376498Total

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY278264293BOY
EOY308904023EOY

Accounts Receivable AccountsReceivable

FieldValueIRS element (for citing)
BOY4080046BOY
EOY4143397EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

FieldValueIRS element (for citing)
BOY956462281BOY
EOY816609682EOY
FieldValueIRS element (for citing)
Land Buildings Equipment Basis27028640LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec10641906LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY17383118BOY
EOY16386734EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

FieldValueIRS element (for citing)
BOY15148676BOY
EOY116351661EOY

Investments Other Securities InvestmentsOtherSecurities

FieldValueIRS element (for citing)
BOY44973765BOY
EOY8865369EOY

Intangible Assets IntangibleAssets

FieldValueIRS element (for citing)
BOY1394461BOY
EOY1254878EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY28441161BOY
EOY28190146EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY1346147801BOY
EOY1300705890EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY10855973BOY
EOY15114514EOY

Unsecured Notes Loans Payable UnsecuredNotesLoansPayable

FieldValueIRS element (for citing)
BOY180000000BOY
EOY150000000EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY1045766399BOY
EOY1023121159EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY1236622372BOY
EOY1188235673EOY
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)
BOY109525429BOY
EOY112470217EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY109525429BOY
EOY112470217EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY1346147801BOY
EOY1300705890EOY
FieldValueIRS element (for citing)
Info In Schedule O Part XIXInfoInScheduleOPartXI
Reconcilation Revenue Expenses2874484ReconcilationRevenueExpenses
Reconcilation Other Changes70304ReconcilationOtherChanges
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or Review0AccountantCompileOrReview
FS Audited1FSAudited
Audit Committee1AuditCommittee
Financial Statement ConsolidatedXFinancialStatementConsolidated
Federal Grant Audit Required0FederalGrantAuditRequired

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Political Expenditures10878PoliticalExpenditures
Amt Of Internal Funds Contributed10878AmtOfInternalFundsContributed
Total Exmpt Function Expenditures10878TotalExmptFunctionExpenditures
Form1120 Pol Filed1Form1120PolFiled

Sec527 Pol Orgs Sec527PolOrgs (4 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeAmt Pd From Internal FundsAmtPdFromInternalFundsEINEIN
AUDRA STRICKLAND FOR SUPERVISOR VENTURA COUNTY 2010
PO BOX 1142THOUSAND OAKSCA91358500
TONY STRICKLAND FOR CONTROLLER 2010
515 S FIGUEROA STREET 16TH FLOORLOS ANGELESCA90071500
CALIFORNIA & NEVADA CREDIT UNION LEAGUE
PO BOX 51476ONTARIOCA9176100769628942329967
MIKE GATTO FOR STATE ASSEMBLY 2010
2658 GRIFFITH PARK BLVD SUITE 415LOS ANGELESCA90039250

Form990 Schedule C Part IV Form990ScheduleCPartIV

FieldValueIRS element (for citing)
IdentifierORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES:Identifier
Return ReferencePART I-A, LINE 1:ReturnReference
ExplanationTHE CREDIT UNION MAKES CONTRIBUTIONS TO SUPPORT CANIDATES OR ACTION COMMITTEES PROMOTING CREDIT UNION CAUSES.Explanation

Schedule D IRS990ScheduleD

Land Land

FieldValueIRS element (for citing)
Other Cost Or Other Basis3731592OtherCostOrOtherBasis
Book Value3731592BookValue

Buildings Buildings

FieldValueIRS element (for citing)
Other Cost Or Other Basis13049351OtherCostOrOtherBasis
Depreciation4748887Depreciation
Book Value8300464BookValue

Leasehold Improvements LeaseholdImprovements

FieldValueIRS element (for citing)
Other Cost Or Other Basis2697187OtherCostOrOtherBasis
Depreciation2398162Depreciation
Book Value299025BookValue

Equipment Equipment

FieldValueIRS element (for citing)
Other Cost Or Other Basis7550510OtherCostOrOtherBasis
Depreciation3494857Depreciation
Book Value4055653BookValue
FieldValueIRS element (for citing)
Total Of Book Value Land Buildings16386734TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescriptionAmountAmount
MEMBER SHARES$1,020,599,787
OTHER LIABILITIES$2,521,372
FieldValueIRS element (for citing)
Total Of Amounts1023121159TotalOfAmounts
Total Revenue65250982TotalRevenue
Total Expenses62376498TotalExpenses
Excess Or Deficit For Year2874484ExcessOrDeficitForYear
Net Unrealized GL On Investments-959NetUnrealizedGLOnInvestments
Other$71,263OtherAmount
Total Adjustments70304TotalAdjustments
Excess Or Deficit Per FS2944788ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt64983290TotRevenueEtcAuditedFinclStmt
Other Revenues-267692OtherRevenues
Revenue Not Rptd F990-267692RevenueNotRptdF990
Revenue Subtotal65250982RevenueSubtotal
Revenue Not Rptd On Fin Stmt0RevenueNotRptdOnFinStmt
Total Revenue Per Form99065250982TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt62376498TotExpensesEtcAuditedFinclStmt
Expenses Not Rptd F9900ExpensesNotRptdF990
Expenses Subtotal62376498ExpensesSubtotal
Expenses Not Rptd On Fin Stmt0ExpensesNotRptdOnFinStmt
Total Expenses Per Form99062376498TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV

FieldValueIRS element (for citing)
IdentifierDESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:Identifier
Return ReferencePART X:ReturnReference
ExplanationAS OF AND FOR THE TAX YEAR ENDED DECEMBER 31, 2010, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS.Explanation

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Travel For CompanionsXTravelForCompanions
Idemnification Gross Up PaymentsXIdemnificationGrossUpPayments
Written Policy Re T And E Expenses1WrittenPolicyReTAndEExpenses
Substantiation Required1SubstantiationRequired
Compensation CommitteeXCompensationCommittee
Independent ConsultantXIndependentConsultant
Compensation SurveyXCompensationSurvey
Board Or Committee ApprovalXBoardOrCommitteeApproval
Severance Payment0SeverancePayment
Supplemental Nonqual Retire Plan0SupplementalNonqualRetirePlan
Equity Based Comp Arrangement0EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII (9 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
JOHN M MERLO
5005060000098000428010553107000
W BRAD CUNNINGHAM
176098000005621058740187593000
TIMOTHY G PAULSON
1629764000002722034390163592506758790
MARJORIE MCNAUGHT
3529840000098350219760384795000
LIZBETH CONDERCURI
319853000003813530197370720943000
SANA SALEH
23048100000601907550237255000
JAMES RITTER
12864403300700000108030172454000
KELLY KAREN
2013301393310006722078130173999000
JESUS LOPEZ
2531401351420006625083980175479000

Form990 Schedule J Part III Form990ScheduleJPartIII

FieldValueIRS element (for citing)
Return ReferencePART I, LINE 1AReturnReference
ExplanationTRAVEL FOR COMPANIONS - BOARD MEMBERS MAY BRING HIS/HER SPOUSE TO OUT OF STATE CONFERENCES. THE CREDIT UNION PAYS FOR PLANE FARES AND MEALS. FORM 1099-MISC IS FILED IF THE AMOUNT EXCEEDS $600 FOR THE YEAR. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS - THIS IS RELATED TO SELECTED CREDIT UNION EXECUTIVES WITH SPLIT-DOLLAR INSURANCE POLICIES.Explanation

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (8 entries)

IdentifierIdentifierExplanationExplanationReturn ReferenceReturnReference
FORM 990, PART VI, SECTION A, LINE 6THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS.
FORM 990, PART VI, SECTION A, LINE 7AMEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE.
FORM 990, PART VI, SECTION A, LINE 7BMEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR.
FORM 990, PART VI, SECTION B, LINE 11THE DRAFT FORM 990 PREPARED BY THE TAX ACCOUNTANT IS REVIEWED BY SENIOR MANAGEMENT IN THE FOLLOWING ORDER: VP/CONTROLLER, SVP/CFO, SVP/HRD, PRESIDENT/CEO AND FINALLY, THE BOARD. QUESTIONS, COMMENTS AND CORRECTIONS ARE ADDRESSED AT EACH STAGE OF THE REVIEW BEFORE THE FINAL REPORT IS FILED BY THE TAX PREPARER FOR THE CREDIT UNION.
THE CONFLICT OF INTEREST POLICY IS CONTAINED IN THE CODE OF RESPONSIBILITY AND ETHICS THAT EACH EMPLOYEE IS REQUIRED, ANNUALLY, TO ACKNOWLEDGE. VIA WRITTEN POLICY, ALL EMPLOYEES AND OFFICIALS ARE MADE AWARE OF THE CREDIT UNION'S COMPLIANCE REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, CONFLICTS OF INTEREST POLICY. STANDARD CREDIT UNION PROCEDURES AND REQUIREMENTS ARE CONSISTENTLY APPLIED TO ANY BUSINESS TRANSACTION BY DIRECTORS, OFFICERS AND EMPLOYEES. IF A DECISION IS REQUIRED REGARDING A BUSINESS TRANSACTION THAT COULD POTENTIALLY RISE TO A PERCEPTION OF A CONFLICT OF INTEREST, THE INVOLVED PARTY WILL RECUSE HIM OR HERSELF FROM DISCUSSION AND REVIEW OF THE TRANSACTION. TRANSACTIONS INVOLVING INDIVIDUAL ACCOUNTS ARE MONITORED BY THE INTERNAL AUDITOR ON A REGULAR BASIS.FORM 990, PART VI, SECTION B, LINE 12C
EXTENSIVE ANNUAL SURVEYS ARE CONDUCTED FOR KEY POSITIONS IN THE CREDIT UNION INCLUDING, BUT NOT LIMITED TO, TOP MANAGEMENT AND KEY EMPLOYEES. THESE SURVEYS ARE PROVIDED BY PROFESSIONAL COMPENSATION ANALYSTS WHO WORK DIRECTLY WITH DATA WITHIN THE FINANCIAL INDUSTRY FIELD. THESE SURVEYS PROVIDE TOTAL COMPENSATION INFORMATION THAT RANGES FROM BROAD MACRO ISSUES TO SPECIFIC ELEMENTS OF TOTAL COMPENSATION STRUCTURES.FORM 990, PART VI, SECTION B, LINE 15
FINANCIAL STATEMENTS ARE POSTED MONTHLY IN ALL BRANCHES. THE ANNUAL REPORT IS AVAILABLE AT THE CREDIT UNION'S WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.FORM 990, PART VI, SECTION C, LINE 19
CHANGES IN NET ASSETS OR FUND BALANCES:NET UNREALIZED LOSSES ON INVESTMENTS: -959. LOSS IN VALUE OF INSURANCE & ANNUITY POLICIES -267,692. NET CHANGE IN FMV OF DERIVATIVES USED AS CASH 338,955. TOTAL TO FORM 990, PART XI, LINE 5: 70,304.FORM 990, PART XI, LINE 5:

Schedule R IRS990ScheduleR

Form990 Schedule R Part IV Form990ScheduleRPartIV

Name Of Related Org NameOfRelatedOrg

FieldValueIRS element (for citing)
Business Name Line1PREMIER FINANCIAL SERVICES INCBusinessNameLine1

Address US AddressUS

FieldValueIRS element (for citing)
Address Line1PO BOX 2178AddressLine1
CityCHATSWORTHCity
StateCAState
ZIP Code91313ZIPCode
FieldValueIRS element (for citing)
EIN954391970EIN
Primary ActivitySALE OF INVESTMENT & INSURANCE PRODUCTSPrimaryActivity
Legal Domicile StateCALegalDomicileState

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1PREMIER AMERICA CREDIT UNIONBusinessNameLine1
FieldValueIRS element (for citing)
Type Of EntityCTypeOfEntity
Percentage Ownership1.00000PercentageOwnership
FieldValueIRS element (for citing)
Receipt Of Int Ann Rents Royalties0ReceiptOfIntAnnRentsRoyalties
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 Orgs0PerformOfServicesByOtherOrgs
Sharing Of Facilities0SharingOfFacilities
Sharing Of Paid Employees0SharingOfPaidEmployees
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrg
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrg
Other Transfer To Other Org0OtherTransferToOtherOrg
Other Transfer From Other Org0OtherTransferFromOtherOrg

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