2011-11-10T19:04:53-06:00 2010-12-31 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2010-01-01 941696676 NATIONAL 1ST CREDIT UNION NATI 8886726073 2999 SAN YSIDRO WAY SANTA CLARA CA 95051 MARCIA ELAINE LILLIS 8886726073 2011-11-03 1 VALENTINO CREUS CPA 8189549700 2010 2016-03-07 17:11:31Z MARCIA ELAINE LILLIS 2999 SAN YSIDRO WAY SANTA CLARA CA 95051 8142799 0 X WWW.NATIONAL1ST.ORG X CREDIT UNION 1968 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 6 5 49 8 9456 -8810 0 0 7534174 7210361 1018999 910146 1014312 22292 9567485 8142799 0 0 0 0 2878248 3041518 0 0 0 8894847 5183964 11773095 8225482 -2205610 -82683 177339790 185988441 158712685 167486885 18627105 18501556 X NATIONAL 1ST 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 COOPERATIVE, NATIONAL 1ST CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING A HIGH-YIELD CHECKING ACCOUNT PRODUCT AND A PREMIUM-RATE MONEY MARKET SAVINGS PRODUCT. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3601 0 1 49 1 1 1 0 0 0 0 0 X 6 5 0 0 0 0 1 1 1 1 1 0 1 1 1 0 1 1 1 1 0 CA X SCOTT BOLSTER CFO 8886726073 2999 SAN YSIDRO WAY SANTA CLARA CA 950510604 ROBERT DEBARR 1.00 X 0 0 0 SEAMUS MORAN 1.00 X 0 0 0 PATRICIA MAHAN 1.00 X 0 0 0 THOMAS RANDAZZO 1.00 X 0 0 0 THOMAS SUCHEVITS 1.00 X 0 0 0 MARK VEEH 1.00 X 0 0 0 TEJINDER SINGH 1.00 X 0 0 0 SESHADRI RAMASWAMI 1.00 X 0 0 0 MARCIA LILLIS 40.00 X X 205872 0 37971 RUSSELL MELTON 40.00 X 163399 0 40062 SCOTT BOLSTER 40.00 X 70542 0 12573 PAUL J HERRERA 40.00 X 104033 0 20892 LAURA STARK LACOMBLE 40.00 X 138473 0 30843 SANDRA SCUTCHALL 40.00 X 122544 0 22858 MALGORZATA CZYZ 40.00 X 107057 0 27486 911920 0 192685 6 0 1 0 XP SYSTEMS 75 REMITTANCE DRIVE SUITE 6963 CHICAGO IL 60675 ENTERPRISE DATA MANAGEMENT SYSTEM 238842 RESOURCE TECHNICAL SERVICES INC MICHAEL R POUR MECHANICSVILLE VA 23111 BUSINESS CONSULTING 161491 DIEBOLD 5995 MAYFAIR ROAD PO BOX 3077 NORTH CANTON OH 44720 SECURITY SOLUTIONS 142119 PM SYSTEMS CORPORATION 105 BEAUFORT STREET SUITE E CHAPIN SC 29036 TRANSACTION SERVICING/PROCESSING 124623 4 LOAN INCOME 522100 5862306 5862306 OTHER OPERATING INCOME 522100 807790 807495 295 FEE INCOME 522100 540265 531104 9161 7210361 910146 910146 OTHER NON OPERATING IN 522100 19408 19408 GAIN ON INVESTMENT 522100 2884 2884 22292 8142799 8133343 9456 0 911920 1428424 63066 444998 193110 31965 40800 1045131 185787 550027 138343 214005 27166 1258893 413565 446660 PROVISION FOR LOAN AND 649748 MISC. OPERATING EXPENSE 89258 LOAN SERVICING EXPENSE 76294 OPERATING FEES 16322 8225482 829358 583404 28781787 24340224 2997213 1446573 6354499 4879199 1729576 1475300 6048348 15200880 136036863 141784171 916645 1157889 177339790 185988441 769276 779527 157943409 166707358 158712685 167486885 X 0 0 0 0 18627105 18501556 18627105 18501556 177339790 185988441 X -82683 -42866 X X 0 1 1 X 0 3361852 2175094 1186758 2992647 2704105 288542 1475300 ALL OTHER INVESTMENTS 1231932 F DEPOSITS 38242000 F LOANS AND LEASES 100798900 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 1511339 F 141784171 TOTAL SHARES AND DEPOSITS 166707358 166707358 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FOR THE YEAR ENDED MARCH 31, 2011, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION IS NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AND STATE TAX AUTHORITIES FOR TAX YEARS BEFORE 2006. FOR THE YEAR ENDED MARCH 31, 2011, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. STATE TAXES, HOWEVER, ARE PAID ON INCOME EARNED BY THE CREDIT UNION IN CALIFORNIA. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. X 0 0 0 MARCIA LILLIS 185658 0 17621 0 2593 0 19776 0 18195 0 243843 0 0 0 RUSSELL MELTON 150924 0 12350 0 125 0 22674 0 17388 0 203461 0 0 0 LAURA STARK LACOMBLE 129855 0 8350 0 268 0 10257 0 20586 0 169316 0 0 0 MARCIA E LILLIS HOME EQUITY LINE OF CREDIT X 10000 9416 0 1 1 MARCIA E LILLIS VISA X 7500 1131 0 1 1 SANDRA J SCUTCHALL VISA X 20000 4690 0 1 1 SANDRA J SCUTCHALL HOME EQUITY LINE OF CREDIT X 63914 97131 0 1 1 SANDRA J SCUTCHALL 1ST MORTGAGE X 600000 548219 0 1 1 LAURA L LACOMBLE AUTO X 48497 1254 0 1 1 ROBERT E DEBARR VISA X 0 1 1 ROBERT E DEBARR HOME EQUITY LINE OF CREDIT X 200000 87949 0 1 1 CRAIG MURATA AUTO X 35230 11609 0 1 1 MARCIA E LILLIS AUTO X 67189 66524 0 1 1 MARCIA E LILLIS 1ST MORTGAGE X 626144 618650 0 1 1 1446573 FORM 990, PART VI, SECTION A, LINE 6 AS A CALIFORNIA STATE-CHARTERED CREDIT UNION, THE ORGANIZATION OFFERS COMMON-BOND MEMBERSHIPS TO PERSONS WHO LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN SANTA CLARA COUNTY, CALIFORNIA AND TARRANT COUNTY, TEXAS. FORM 990, PART VI, SECTION A, LINE 7A AT MEMBERS' ANNUAL MEETING HOSTED BY ORGANIZATION'S VOLUNTEER BOARD OF DIRECTORS AND MANAGEMENT, MEMBERS HAVE THE ABILITY TO FILL ANY VACANCIES ON THE BOARD BY WAY OF AN ELECTION. 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 PRIOR TO FILING, THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS WHO RECOMMEND MODIFICATIONS IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATION DOES NOT HAVE A SEPARATE CONFLICT OF INTEREST POLICY. HOWEVER AS PER THE CODE OF ETHICS EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AS AND WHEN THEY ARISE. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST GUIDELINES AS PER THE CODE OF ETHICS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE MANAGEMENT, ON AT LEAST AN ANNUAL BASIS, OBTAINS COMPENSATION SURVEY DATA FOR HIGHLY COMPENSATED EMPLOYEES (WHICH CONSIST OF VICE PRESIDENTS AND HIGHER) FOR PURPOSES OF COMPENSATION BENCHMARKING. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THIS DATA IN CONJUNCTION WITH EXECUTIVE MANAGEMENT TO DETERMINE APPROPRIATE COMPENSATION LEVELS BY EMPLOYEE POSITION. COMPENSATION LEVELS FOR OTHER KEY EMPLOYEES AND GENERAL STAFF IS AVAILABLE TO THE COMPENSATION COMMITTEE AT ANY TIME FOR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS MONTHLY FINANCIAL STATEMENTS FOR PUBLIC VIEWING BY MEMBERS IN ALL BRANCHES. ORGANIZATION DOES NOT POST GOVERNING DOCUMENTS OR A CONFLICT OF INTEREST POLICY FOR PUBLIC VIEWING. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED GAINS/LOSSES ON AVAILABLE FOR SALE SECURITIES -42,866. TOTAL TO FORM 990, PART XI, LINE 5: -42,866. FORM 990, PART VII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.