2011-11-06T10:38:19-06:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 940335800 1ST UNITED SERVICES CREDIT UNION 1STU 9255984837 PO BOX 11746 PLEASANTON CA 94588 STEVE STONE 9255984837 2011-11-04 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z VICTOR QUINT PO BOX 11746 PLEASANTON CA 94588 38453076 0 1526 X WWW.1STUSCU.ORG X 1932 CA TO PROVIDE A LIFETIME OF SIMPLER, FASTER, FRIENDLIER FINANCIAL SERVICES FOR OUR MEMBERS. 9 9 124 14 268289 -341855 0 0 42210114 34615844 2886994 3837232 0 0 45097108 38453076 0 0 13651148 9065985 9230398 9233052 0 0 0 22048704 19371679 44930250 37670716 166858 782360 770746315 788708418 698868884 716709599 71877431 71998819 X 1ST UNITED SERVICES CREDIT UNION (1ST USCU) SERVES MEMBERS PRIMARILY LOCATED IN THE EAST BAY OF THE SAN FRANCISCO BAY AREA, WITH A WIDE RANGE OF COMPETITIVELY PRICED PRODUCTS AND SERVICES. 1ST USCU OFFERS A RANGE OF LOAN PRODUCTS, WHICH INCLUDE REAL ESTATE LOANS, NEW AND USED AUTO LOANS AND VISA CREDIT CARDS. REAL ESTATE LOANS COMPRISE OVER HALF OF 1ST USCU'S $500 MILLION LOAN PORTFOLIO. FOR SAVERS, 1ST USCU OFFERS A WIDE RANGE OF DEPOSIT PRODUCTS, INCLUDING CHECKING ACCOUNTS, MONEY MARKET ACCOUNTS, SHARE CERTIFICATES AND IRA CERTIFICATES. IN THE COMMUNITY, 1ST USCU OFFERS NO COST FINANCIAL EDUCATION SEMINARS TO MEMBERS, NON-MEMBERS, TEENS AND ADULTS. 0 0 1ST UNITED SERVICES CREDIT UNION OFFERS A COMPREHENSIVE PORTFOLIO OF SAVINGS AND LOAN PRODUCTS FOR MEMBERS. 1ST UNITED SERVICES' PRODUCTS ARE AN EXCELLENT VALUE, COMPETITIVELY PRICED AND EASY TO PURCHASE. ALL OF OUR PRODUCTS ARE AVAILABLE TO MEMBERS THROUGH OUR EXTENSIVE BRANCH NETWORK, VIA OUR MEMBER SERVICES CALL CENTER OR ONLINE AT WWW.1STUSCU.ORG. 1ST UNITED SERVICES OFFERS FINANCIAL PLANNING AND INVESTMENT SERVICES FOR OUR MEMBERS. THESE SERVICES ARE AVAILABLE AT NO COST TO ALL MEMBERS OF THE CREDIT UNION AND ARE DELIVERED THROUGH CUSO FINANCIAL SERVICES, A REGISTERED BROKER-DEALER. AT 1ST UNITED SERVICES, WE ARE KNOWN IN THE COMMUNITY FOR OUR FINANCIAL EDUCATION PROGRAM. THE CREDIT UNION OFFERS FINANCIAL EDUCATION SEMINARS IN OUR BRANCHES, ON-SITE PROGRAMS AT EMPLOYER LOCATIONS AND SELF-STUDY MATERIALS ON OUR WEBSITE AT WWW.1STUSCU.ORG. WE ALSO SPONSOR FINANCIAL EDUCATION PROGRAMS IN HIGH SCHOOLS THROUGHOUT THE EAST BAY. IN 2010, 1ST UNITED SERVICES DELIVERED OVER 30 FINANCIAL EDUCATION WORKSHOPS TO OVER 1,000 PEOPLE. 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 47 0 124 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 0 1 1 1 0 CA X VIKTORIA EARLE 9255984837 PO BOX 11746 PLEASANTON CA 94588 HOWARD T GARRIGAN 1.00 X X 0 0 6597 STEVE MANNING 1.00 X X 0 0 0 NAOMI O BURNS 1.00 X X 0 0 114 NEIL PETERSON 1.00 X X 0 0 6621 DIANA BONANNO 1.00 X 0 0 5742 RICK CASTRO 1.00 X 0 0 4099 GERALD DEMARIA 1.00 X 0 0 2349 TERESITA M LAUIGAN 1.00 X 0 0 4688 DAVE MACDONALD 1.00 X 0 0 3457 VICTOR QUINT 40.00 X 360930 0 70967 STEPHEN M STONE 40.00 X 148069 0 16917 GREGORY PULLIAM 40.00 X 157470 0 25560 EDWARD RENTERIA 40.00 X 157857 0 25892 TOSHA EAGLES-WILLIAMS 40.00 X 134851 0 8852 MELINDA ERICKS CROSS 40.00 X 100837 0 21156 VICTORIA PIPKIN 40.00 X 115486 0 10484 MIKE HUFFORD 40.00 X 102800 0 20587 MATT MITLO 40.00 X 141026 0 21530 1419326 0 255612 9 0 1 0 NATIONAL CREDIT UNION ADMINISTRATION PO BOX 979069 ST LOUIS MO 631979000 SHARE INSURANCE PREMIUM 1603422 DIEBOLD GLOBAL FINANCE PO BOX 644399 PITTSBURGH PA 152644399 ATM/CHECK PROCESSING 885888 KAISER FOUNDATION HEALTH PLAN INC FILE NUMBER 73046 PO BOX 60000 SAN FRANCISCO CA 941603046 HEALTH INSURANCE 713349 XP SYSTEMS CORP 75 REMITTANCE DRIVE SUITE 6963 CHICAGO IL 606756963 CORE DATA PROCESSING 448807 PM SYSTEMS CORPORATION PO BOX 459 115 CLARK STREET CHAPIN SC 29036 ONLINE BANKING 277417 21 INCOME FROM LOANS 522100 28212507 28212507 FEE INCOME 522100 4857665 4771247 86418 OTHER INCOME 524292 1545672 1363801 181871 34615844 3559228 3559228 278004 278004 278004 278004 38453076 34347555 268289 3837232 9065985 997329 6603554 344013 702152 586004 612323 110498 153119 105517 699042 1204021 1542909 1871656 21914 253537 709147 1528337 PROVISION FOR LOAN LOSS 8045789 PLASTIC CARD SERVICES 1860653 LOAN SERVICING 653217 37670716 78695710 51131282 493383354 443405648 21124766 11142105 11019179 9982661 172774450 270056373 14873622 14132454 770746315 788708418 1097228 1182664 759 697771656 715526176 698868884 716709599 X 71877431 71998819 71877431 71998819 770746315 788708418 X 782360 -660972 X 0 1 1 X 0 0 1 1760872 1760872 7474113 2045610 5428503 3254837 2227351 1027486 4787282 3444880 1342402 3847662 3424264 423398 9982661 AVAILABLE FOR SALE SECURITIES 200765973 F MEMBERSHIP CAPITAL AT CORPORATE CREDIT UNIONS 900000 F CERTIFICATES OF DEPOSIT 65000000 F OTHER INVESTMENTS 3390400 F 270056373 MEMBER SHARES 715526176 715526176 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOANS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FOR THE AUDIT YEAR ENDED JUNE 30, 2010, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X X X X 1 1 0 VICTOR QUINT 330930 0 30000 0 0 0 42520 0 28447 0 431897 0 0 0 STEPHEN M STONE 148069 0 0 0 0 0 10365 0 6552 0 164986 0 0 0 GREGORY PULLIAM 157470 0 0 0 0 0 10718 0 14842 0 183030 0 0 0 EDWARD RENTERIA 157857 0 0 0 0 0 11050 0 14842 0 183749 0 0 0 MATT MITLO 141026 0 0 0 0 0 8194 0 13336 0 162556 0 0 0 PART I, LINES 4A-B MATT MITLO, VP RISK MANAGEMENT, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $57,051. VICTOR QUINT PARTICIPATED IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. NO DISTRIBUTIONS WERE MADE TO THE PARTICIPANT. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. EVERY CREDIT UNION MEMBER HAS A SINGLE VOTING SHARE. 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. 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 FINANCE MANAGER GATHERS AND PREPARES THE INFORMATION. VP FINANCE, CAO, CFO AND CEO REVIEWS FORM 990 UPON COMPLETION. A COPY OF THE FORM IS MADE AVAILABLE TO EACH VOTING MEMBER OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS PROVIDED TO EMPLOYEES IN THE EMPLOYEE HANDBOOK. ANNUALLY, EMPLOYEES ARE REMINDED OF THE POLICY AND ARE REQUIRED TO ACKNOWLEDGE IN WRITING THAT THEY HAVE READ THE POLICY, AS WELL AS THE OTHER SECTIONS IN THE HANDBOOK. MANAGERS ARE HELD ACCOUNTABLE TO MONITOR ADHERENCE TO THE POLICY AND TO ENSURE THEIR EMPLOYEES UNDERSTAND IT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION AT THE CREDIT UNION IS GOVERNED BY A BOARD OF DIRECTORS APPROVED SALARY ADMINISTRATION POLICY. THE CREDIT UNION SETS COMPENSATION RANGES FOR ALL EMPLOYEES, INCLUDING OFFICERS AND KEY EMPLOYEES, USING A THIRD PARTY COMPENSATION CONSULTING FIRM. THIS THIRD PARTY ORGANIZATION PROVIDES COMPENSATION INFORMATION AND SALARY RANGES FOR COMPANIES NATIONWIDE. SALARY RANGES ARE DEVELOPED THROUGH NATIONWIDE, INDUSTRY-SPECIFIC COMPENSATION SURVEYS AND COMPENSATION BENCHMARKING FOR KEY POSITIONS. THE BOARD OF DIRECTORS APPROVE THE SALARY RANGES AND EVALUATE ANY ANNUAL CHANGES RECOMMENDED BY THE THIRD PARTY FIRM. SALARY LEVELS AND JOB GRADES FOR INDIVIDUAL POSITIONS ARE DETERMINED USING A JOB EVALUATION PROCESS PROVIDED BY THE THIRD PARTY FIRM. FORM 990, PART VI, SECTION C, LINE 19 GENERALLY, GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC OR TO MEMBERS. DISCLOSURE OF THESE ITEMS AS WELL AS OTHER RECORDS THAT MAY BE CLASSIFIED FOR INTERNAL USE ARE GOVERNED UNDER NCUA 701.3 (MEMBER INSPECTION OF CREDIT UNION BOOKS, RECORDS, AND MINUTES) AND WILL BE DISCLOSED TO MEMBERS ONLY AS LAW OR REGULATION PERMIT. THE ANNUAL FINANCIAL STATEMENT IS MADE AVAILABLE TO THE MEMBERSHIP AND PUBLIC IN SEVERAL WAYS BY PUBLISHING IN: -MEMBERSHIP NEWSLETTER -CREDIT UNION INTERNET SITE -PRINTED ANNUAL REPORT AVAILABLE TO MEMBERS IN OUR BRANCHES CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -660,972.