2011-11-14T16:37:02-06:00 2010-12-31 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2010-01-01 330358683 AMERICAN FIRST CREDIT UNION AMER 8002901112 700 N HARBOR BLVD LA HABRA CA 90631 SCOTT RAINS 8002901112 2011-11-10 1 VALENTINO CREUS CPA 8189549700 2010 2016-02-24 21:20:13Z PAMELLA EASLEY 700 N HARBOR BLVD LA HABRA CA 90631 102477989 0 X WWW.AMERFIRST.ORG X CREDIT UNION 1989 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 5 5 138 8 145188 -132156 0 0 36423673 29310504 5780577 2126183 3617721 260032 45821971 31696719 0 0 0 0 9863700 9073755 0 0 0 50359840 26749493 60223540 35823248 -14401569 -4126529 577046854 550898917 536894161 515020849 40152693 35878068 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, AMERICAN FIRST CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 ACHIEVEMENT OF MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND SIMILAR ACCOUNTS. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH CONSUMER AND REAL ESTATE LOANS, I.E., AUTO LINES, VISA, 1ST MORTGAGE AND PERSONAL LINES OF CREDIT. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH OUR LONG TERM COMMITMENT TO HELP OUR MEMBERS REACH THEIR FINANCIAL GOALS. 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 21857 0 1 138 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X MICHAEL TAYLOR 8002901112 700 NORTH HARBOR BLVD LA HABRA CA 906314026 DANNY DOSS 1.00 X 0 0 0 TOM COOK 1.00 X 0 0 0 PATTI MALLOT 1.00 X 0 0 0 DON KOCHERHANS 1.00 X 0 0 0 GREG TIPPINGS 1.00 X 0 0 0 DAVID DE LEON 1.00 X 0 0 0 AMANDA SECOLA 1.00 X 0 0 0 ROGER VANDER WENDE 1.00 X 0 0 0 PAMELLA EASLEY 40.00 X 217316 0 6206 SCOTT RAINS 40.00 X 147866 0 19527 BRIAN THOMPSON 40.00 X 154656 0 13108 ARTHUR HICKSON 40.00 X 38795 0 2260 RYAN ZILKER 40.00 X 162747 0 13084 ROBERT STREET 40.00 X 660369 0 9499 CARLOS MIRAMONTEZ 40.00 X 231281 0 12305 ROCHELLE ESPARZA 40.00 X 116119 0 10347 SUSAN HUSS 40.00 X 111218 0 20118 1840367 0 106454 8 0 1 0 DIGITAL INSIGHT CORP PO BOX 515306 LOS ANGELES CA 90051 HOME BANKING PROVIDER 261912 ANAYA LAW GROUP 26135 MUREAU ROAD SUITE 203 CALABASAS CA 91302 ATTORNEY SERVICES 216726 PAETEC COMMUNICATIONS INC PO BOX 1283 BUFFALO NY 14240 IP PHONE SERVICES 168418 FISERV 75 REMITTANCE DRIVE SUITE 1698 CHICAGO IL 60675 MAINFRAME MAINTENANCE 168369 WEINTRAUB & SELTH APC 11766 WILSHIRE BLVD SUITE 1170 LOS ANGELES CA 90025 ATTORNEY SERVICES 162322 14 INTEREST INCOME 522100 21169163 21169163 OTHER OPERATING INCOME 522100 4983596 4838408 145188 FEE INCOME 522100 3157745 3157745 29310504 3255236 3255236 68716353 935864 69329892 1451378 -613539 -515514 -1129053 -1129053 OTHER NON-OPERATING IN 522100 260032 260032 260032 31696719 31551531 145188 0 1840367 5454217 214126 970320 594725 159047 143712 2113632 756217 1774958 20052 591448 99784 11037206 711195 1324788 PROV-LOAN/LEASE LOSSES 6742738 LOAN SERVICING EXPENSE 1034925 MISCELLANEOUS OPERATING 169855 OPERATING FEES 49911 LOSS ON SALE OF INVESTM 20025 35823248 1565339 1497871 44902872 93540616 5935181 4114045 11105823 7289973 3579735 3815850 55860539 52529548 434249993 363684946 30953195 31716041 577046854 550898917 4427770 4305003 532466391 510715846 536894161 515020849 X 0 0 0 0 40152693 35878068 40152693 35878068 577046854 550898917 X -4126529 -148096 X X 0 1 1 X 0 1342302 1342302 3403710 1669799 1733911 745499 368220 377279 5614312 5251954 362358 3815850 OTHER INVESTMENTS 8313100 F LOANS AND LEASES 345394935 F INVESTMENTS HELD FOR SALE 4884508 F NCUA SHARE INSURANCE CAP DEPOSITS 5092403 F 363684946 ACCRUED INTEREST ON LOANS 1230304 FORECLOSED & REPOSS'ED ASSETS 5847347 ACCRUED INTEREST ON INVESTMENTS 215888 ALL OTHER ASSETS 24422502 31716041 MEMBER SHARE DEPOSITS 510715846 510715846 X 1 1 X X 1 0 0 PAMELLA EASLEY 217049 0 0 0 267 0 2308 0 3898 0 223522 0 0 0 SCOTT RAINS 147253 0 0 0 613 0 4483 0 15044 0 167393 0 0 0 BRIAN THOMPSON 154184 0 0 0 472 0 4662 0 8446 0 167764 0 0 0 RYAN ZILKER 155050 0 0 0 7697 0 4688 0 8396 0 175831 0 0 0 ROBERT STREET 369477 0 0 0 290892 0 5583 0 3916 0 669868 0 0 0 CARLOS MIRAMONTEZ 199917 0 0 0 31364 0 3615 0 8690 0 243586 0 0 0 PART I, LINE 4A ROBERT STREET, CEO/PRESIDENT RETIRED ON MAY 21, 2010. MR. STREET SIGNED A "SEPARATION AGREEMENT AND RELEASE OF CLAIMS" FORM ON MAY 25, 2010, WHICH ENTITLED HIM TO A SEVERANCE AMOUNT OF $288,016. A CHECK WAS ISSUED TO HIM ON JUNE 2, 2010. CARLOS MIRAMONTEZ, VP OF OPERATIONS, WAS LAID OFF ON AUGUST 2, 2010. MR. MIRAMONTEZ SIGNED A "SEPARATION AGREEMENT AND RELEASE OF CLAIMS" FORM ON AUGUST 2, 2010, WHICH ENTITLED HIM TO A SEVERANCE AMOUNT OF $31,153.80. A CHECK WAS ISSUED TO HIM ON AUGUST 2, 2010. RYAN ZILKER, CHIEF MARKETING OFFICER, RESIGNED HIS POSITION TO PURSUE ANOTHER OPPORTUNITY ON DECEMBER 10, 2010. MR. ZILKER SIGNED A "SEPARATION AGREEMENT AND RELEASE OF CLAIMS" FORM ON DECEMBER 14, 2010, WHICH ENTITLED HIM TO $7,500. A CHECK WAS ISSUED TO HIM ON DECEMBER 22, 2010. SUSAN HUSS LOC X 4988 0 0 1 SUSAN HUSS 1ST MORTGAGE X 650000 608431 0 0 1 SUSAN HUSS 1ST MORTGAGE X 250800 239355 0 0 1 SUSAN HUSS 2ND MORTGAGE X 65000 54495 0 0 1 ROCHELLE ESPARZA AUTO X 38900 29495 0 0 1 ROCHELLE ESPARZA 1ST MORTGAGE X 473600 460975 0 0 1 ROCHELLE ESPARZA HELOC X 75000 65559 0 0 1 ROCHELLE ESPARZA 1ST MORTGAGE X 84500 73654 0 0 1 THOMAS COOK 1ST MORTGAGE X 128000 124481 0 1 1 PATTI MALOTT HELOC X 150000 113812 0 1 1 ROBERT STREET 1ST MORTGAGE X 312000 299322 0 1 1 ROBERT STREET HELOC X 50000 16338 0 1 1 CARLOS MIRAMONTEZ 1ST MORTGAGE X 244000 211505 0 0 1 CARLOS MIRAMONTEZ 1ST MORTGAGE X 615000 584750 0 0 1 CARLOS MIRAMONTEZ HELOC X 61000 55882 0 0 1 CARLOS MIRAMONTEZ HELOC X 107000 96490 0 0 1 BRIAN THOMPSON AUTO X 19581 5037 0 0 1 BRIAN THOMPSON 1ST MORTGAGE X 417000 395912 0 0 1 BRIAN THOMPSON HELOC X 200000 40696 0 0 1 SCOTT RAINS AUTO X 15408 9829 0 0 1 BRIAN THOMPSON AUTO X 11918 7745 0 0 1 SCOTT RAINS 1ST MORTGAGE X 282500 272734 0 0 1 SCOTT RAINS AUTO X 14884 8009 0 0 1 PATTI MALOTT 1ST MORTGAGE X 158800 156657 0 1 1 ROBERT STREET LOC X 400 0 1 1 GREG TIPPINGS 1ST MORTGAGE X 68200 40893 0 1 1 GREG TIPPINGS HELOC X 150000 118350 0 1 1 ROGER VANDER WENDE AUTO X 5182 0 0 1 ROGER VANDER WENDE AUTO X 13069 0 0 1 4114045 FORM 990, PART VI, SECTION A, LINE 6 AMERICAN FIRST 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. AMERICAN FIRST CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF AMERICAN FIRST 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 PROVIDED TO THE BOD WHO RECOMMEND CHANGES WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION CONFLICT OF INTEREST AND ETHICS POLICY IS MONITORED ON A REGULAR BASIS. COMPLIANCE IS MONITORED THROUGH THIRD PARTY AUDITS, THE INTERNAL AUDIT STAFF AND COMPLIANCE DEPARTMENTS. RELATED PARTY TRANSACTIONS ARE REPORTED TO THE GOVERNING BODY FOR REVIEW AND APPROPRIATENESS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO COMPENSATION IS DETERMINED BY THE ORGANIZATION'S GOVERNING BODY. THE BOARD REVIEWS THE CEO'S ACCOMPLISHMENTS, CREDIT UNION FINANCIAL POSITION, OTHER EXECUTIVE SALARIES AND INDUSTRY COMPENSATION SURVEYS FOR RANGES IN LIKE POSITIONS WITHIN THE INDUSTRY IN DETERMINING THE APPROPRIATE SALARY. THE SALARY AND COMPENSATION OF OTHER OFFICERS OF THE ORGANIZATION ARE DETERMINED BY THE CEO AND CHIEF ADMINISTRATIVE OFFICER. COMPENSATION LEVELS ARE DETERMINED THROUGH THE USE OF THIRD PARTY VENDORS THAT SUPPLY INDUSTRY COMPENSATION INFORMATION FOR LIKE ORGANIZATIONS BY ASSET SIZE AND REGIONAL COMPENSATION TRENDS. MINIMUM AND MAXIMUM COMPENSATION RANGES ARE ESTABLISHED FOR EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST TO MEMBERS OF THE ORGANIZATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -145,731. PRIOR YEAR - OTHER ADJUSTMENTS -2,365. TOTAL TO FORM 990, PART XI, LINE 5: -148,096. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. AMERICAN FIRST FINANCIAL SERVICES INC 700 NORTH HARBOR BLVD LA HABRA CA 90631 330820079 FINANCIAL SERVICES CA AMERICAN FIRST CREDIT UNION C 3597 1949 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 AMERICAN FIRST FINANCIAL SERVICES M AMOUNT BELOW REPORTING THRESHOLD AMERICAN FIRST FINANCIAL SERVICES N AMOUNT BELOW REPORTING THRESHOLD