2011-11-28T14:51:11-06:00 2010-12-31 RSM MCGLADREY LLC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 953442691 PREMIER AMERICA CREDIT UNION PREM 8187724021 19867 PRAIRIE STREET CHATSWORTH CA 91311 BRAD CUNNINGHAM 8187724021 2011-11-28 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z JOHN MERLO 19867 PRAIRIE STREET CHATSWORTH CA 91311 65554306 0 1526 X WWW.PREMIER.ORG X 1957 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 8 276 5 361972 -104641 0 0 73835360 61877013 3063591 2956750 6795875 417219 83694826 65250982 0 0 20561304 10442601 15177804 14425866 0 0 0 50443021 37508031 86182129 62376498 -2487303 2874484 1346147801 1300705890 1236622372 1188235673 109525429 112470217 X 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, 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. 0 0 THE ORGANIZATION SUCCESSFULLY INCREASED AND ACHIEVED TARGET DEPOSIT BALANCES, ENCOURAGING AND PROMOTING SAVINGS BY MEMBERS. THE ORGANIZATION MET MORTGAGE NEEDS OF FIRST TIME HOME BUYERS AT REASONABLY LOW INTEREST RATES BY BECOMING A FNMA MORTAGE LOAN SELLER AND SERVICER. PROVIDED EDUCATIONAL INFORMATION ON DEPOSIT AND LOAN PRODUCTS AS WELL AS CU PRODUCTS SUCH AS HOMEBANKING AND BILL PAY. 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 60451 0 276 1 1 1 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X LINDA MARQUEZ 8187724021 19867 PRAIRIE STREET CHATSWORTH CA 91311 JOHN M MERLO 40.00 X X 500506 0 52601 JOHN DE VERE 1.00 X X 0 0 0 NORMAN L ROBERTS 1.00 X X 683 0 0 ERIC GOLDNER 1.00 X X 0 0 0 LARRY COLSON 1.00 X 0 0 0 NANCY CHANDLER 1.00 X 601 0 0 ROGER LUBIG 1.00 X 0 0 0 JAMES ANDERSEN 1.00 X 0 0 0 LAWRENCE S HOKE 1.00 X 0 0 0 W BRAD CUNNINGHAM 40.00 X 176098 0 11495 TIMOTHY G PAULSON 40.00 X 1629764 0 6161 MARJORIE MCNAUGHT 40.00 X 352984 0 31811 LIZBETH CONDERCURI 40.00 X 319853 0 401090 SANA SALEH 40.00 X 230481 0 6774 JAMES RITTER 40.00 X 161651 0 10803 KELLY KAREN 40.00 X 159464 0 14535 BILL LORTZ 40.00 X 136104 0 9243 JESUS LOPEZ 40.00 X 160456 0 15023 DONNA MCNEELY 40.00 X 144355 0 1346 3973000 0 560882 15 0 1 0 ANTHUM BLUE CROSS DEPARTMENT 5812 LOS ANGELES CA 900715812 EMPLOYEE HEALTH INSURANCE 769440 FIDELITY NATIONAL INFORMATION SERVICES 601 S LAKE DESTINY ROAD SUITE 300 MAITLAND FL 32751 CORE COMPUTER SYSTEM & SUPPORT 637031 DIGITAL INSIGHT AN INTUIT COMPANY 26025 MUREAU RD CALABASAS CA 91302 HOMEBANKING SERVICE PROVIDER 614298 THE MEMBERS GROUP (TMG) 1500 NW 118TH ST DES MOINES IA 503258242 DEBIT/CREDIT CARD SERVICES PROCESSOR 586737 KAISER FOUNDATION HEALTH PLAN PO BOX 80204 WORLD WAY POSTAL CENTE LOS ANGELES CA 90080 EMPLOYEE HEALTH INSURANCE 494134 15 INCOME FROM MEMBER LOA 522100 54013539 54013539 SERVICE CHARGES & OTHE 522100 4160971 3798999 361972 INTERCHANGE INCOME 522100 2206919 2206919 INVESTMENT BROKERAGE C 523000 935958 935958 OTHER NON-INTEREST INC 522100 559626 559626 61877013 1429571 1429571 720543 303324 417219 417219 417219 1527179 1527179 1527179 1527179 65250982 61515041 361972 3373969 10442601 3349055 9263220 304266 621559 887766 284852 170460 217420 3908321 2089752 85899 1072128 37031 1250 217514 7442758 632204 131494 PROVISION FOR LOAN LOSS 16755000 MISCELLANEOUS OPERATING 1340382 NCUSIF (SHARE INSURANCE 1221038 LOAN SERVICING EXPENSE 1173784 NCUA CORPORATE STABILIZ 695293 31451 62376498 278264293 308904023 4080046 4143397 956462281 816609682 27028640 10641906 17383118 16386734 15148676 116351661 44973765 8865369 1394461 1254878 28441161 28190146 1346147801 1300705890 10855973 15114514 180000000 150000000 1045766399 1023121159 1236622372 1188235673 X 0 0 0 0 109525429 112470217 109525429 112470217 1346147801 1300705890 X 2874484 70304 X 0 1 1 X 0 10878 10878 10878 1 AUDRA STRICKLAND FOR SUPERVISOR VENTURA COUNTY 2010 PO BOX 1142 THOUSAND OAKS CA 91358 500 TONY STRICKLAND FOR CONTROLLER 2010 515 S FIGUEROA STREET 16TH FLOOR LOS ANGELES CA 90071 500 CALIFORNIA & NEVADA CREDIT UNION LEAGUE PO BOX 51476 ONTARIO CA 917610076 942329967 9628 MIKE GATTO FOR STATE ASSEMBLY 2010 2658 GRIFFITH PARK BLVD SUITE 415 LOS ANGELES CA 90039 250 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: THE CREDIT UNION MAKES CONTRIBUTIONS TO SUPPORT CANIDATES OR ACTION COMMITTEES PROMOTING CREDIT UNION CAUSES. 3731592 3731592 13049351 4748887 8300464 2697187 2398162 299025 7550510 3494857 4055653 16386734 MEMBER SHARES 1020599787 OTHER LIABILITIES 2521372 1023121159 65250982 62376498 2874484 -959 71263 70304 2944788 64983290 -267692 -267692 65250982 0 65250982 62376498 0 62376498 0 62376498 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: AS 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. X X 1 1 X X X X 0 0 0 JOHN M MERLO 500506 0 0 0 0 0 9800 0 42801 0 553107 0 0 0 W BRAD CUNNINGHAM 176098 0 0 0 0 0 5621 0 5874 0 187593 0 0 0 TIMOTHY G PAULSON 1629764 0 0 0 0 0 2722 0 3439 0 1635925 0 675879 0 MARJORIE MCNAUGHT 352984 0 0 0 0 0 9835 0 21976 0 384795 0 0 0 LIZBETH CONDERCURI 319853 0 0 0 0 0 381353 0 19737 0 720943 0 0 0 SANA SALEH 230481 0 0 0 0 0 6019 0 755 0 237255 0 0 0 JAMES RITTER 128644 0 33007 0 0 0 0 0 10803 0 172454 0 0 0 KELLY KAREN 20133 0 139331 0 0 0 6722 0 7813 0 173999 0 0 0 JESUS LOPEZ 25314 0 135142 0 0 0 6625 0 8398 0 175479 0 0 0 PART I, LINE 1A TRAVEL 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. FORM 990, PART VI, SECTION A, LINE 6 THE 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 7A MEMBERS 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 7B MEMBERS 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 11 THE 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. FORM 990, PART VI, SECTION B, LINE 12C 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 15 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 C, LINE 19 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: 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. PREMIER FINANCIAL SERVICES INC PO BOX 2178 CHATSWORTH CA 91313 954391970 SALE OF INVESTMENT & INSURANCE PRODUCTS CA PREMIER AMERICA CREDIT UNION C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0