2024-11-15T07:40:43-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 2875 MICHELLE DRIVE 300 IRVINE CA 92606 990 2023-01-01 951184903 SAN DIEGO COUNTY CREDIT UNION SAND 8777322848 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 TERESA CAMPBELL CEO 8777322848 2024-10-28 1 1 LISA N RYSSEL CPA P00643670 7149781300 2024-10-28 2023 2024-10-15 13:58:12Z TERESA CAMPBELL 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 525954701 0 X WWW.SDCCU.COM X 1938 CA STATE-CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO MEMBERS 12 11 1193 14 2255307 0 0 0 257162218 268198502 61663327 167821528 10651881 11659649 329477426 447679679 0 0 0 0 99772229 100629932 0 0 0 131505388 256769604 231277617 357399536 98199809 90280143 11238527302 13480213226 9567239947 11760617452 1671287355 1719595774 A NOT-FOR-PROFIT CREDIT UNION WHOLLY OWNED BY ITS MEMBERS 0 0 OFFER LOAN AND DEPOSIT PRODUCTS AND SERVICES TO MEMBERS, AS WELL AS OTHER FINANCIAL SERVICES. 0 0 0 0 0 0 0 0 0 1 0 1 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 1 0 0 0 1 86289 0 1 1193 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 12 11 0 0 0 0 0 1 1 1 1 0 0 0 0 0 1 1 1 0 CA X AARON SATO 8777322848 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 TERESA CAMPBELL CEO & PRESIDENT 60.00 X X 3100634 0 1779353 ILAN AWERBUCH DIRECTOR 2.00 X 530 0 0 HEATHER BENJAMIN DIRECTOR 2.00 X 499 0 0 RICHARD COLLINS DIRECTOR 2.00 X 264 0 0 ALFIE GONZAGA DIRECTOR 2.00 X 573 0 0 CHRISTOPHER HART DIRECTOR 2.00 X 3771 0 0 PATRICIA HONEYCUTT DIRECTOR 2.00 X 0 0 0 SHIRLEY JACKSON DIRECTOR 2.00 X 0 0 0 LAURIE LEVENSON DIRECTOR 2.00 X 991 0 0 STEVE REUEL DIRECTOR 2.00 X 12580 0 0 KEN VAN RIPER DIRECTOR 2.00 X 4073 0 0 VANESSA YBARRA DAVIS DIRECTOR 2.00 X 0 0 0 AARON SATO CFO & EXECUTIVE VICE PRESIDENT 60.00 X 708876 0 37297 NATHAN SCHMIDT EVP, CHIEF EXPERIENCE OFFICER 60.00 X 824508 0 204996 CAROLYN KISSICK EVP, ERM & CHIEF RISK OFFICE 60.00 X 1122413 0 178650 MICHAEL BRADSHAW EVP, REAL ESTATE LENDING 60.00 X 750786 0 46363 DAVID PERKINS EVP, INFORMATION TECHNOLOGY 60.00 X 595519 0 192319 RYAN LITTLE EVP, CONSUMER LENDING 60.00 X 657750 0 42056 SHEENA PEOPLES EVP, OPERATIONS & CHIEF SALES 60.00 X 518319 0 24664 LAUREN LAPPINGA EVP, HUMAN RESOURCES 60.00 X 550379 0 40139 CINDY LE EVP, RETAIL 60.00 X 211388 0 10890 DONALD JARRETT SVP, REAL ESTATE 40.00 X 352969 0 53121 SCOTT CARROLL CHIEF TECHNOLOGY OFFICER 40.00 X 397864 0 39448 SCOTT MAXWELL SVP, CHIEF IT SECURITY OFFICER 40.00 X 326026 0 39544 SUSAN FARGO SVP, INVESTMENT & WEALTH 40.00 X 293719 0 45081 BRADLEY BATES SVP, INTERNAL AUDIT 40.00 X 370397 0 30912 MICHELLE PAGNI FORMER EVP, RETAIL 60.00 X 865316 0 23536 11670144 0 2788369 180 1 1 0 SHEPPARD MULLIN RICHTER & HAMPTON LLP PO BOX 840728 LOS ANGELES CA 90084 LEGAL SERVICES 5963755 KPMG LLP PO BOX 120922 DALLAS TX 75312 AUDIT SERVICES 1951684 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 31001 PASADENA CA 91110 SECURITY SERVICES 1223324 MICROSOFT CORPORATION 1950 N STEMMONS FY DALLAS TX 75207 SOFTWARE 1159839 LOOMIS PO BOX 120757 DALLAS TX 75312 CASH HANDLING SERVICES 1125017 50 INTEREST INCOME 522100 215740204 215740204 FEE INCOME 522100 52458298 52007097 451201 268198502 146935769 146935769 271390 0 271390 271390 271390 93278101 5882680 72555044 5719978 20723057 162702 20885759 20885759 OTHER INCOME 522100 7401953 5597847 1804106 MEMBER INVESTMENT SERVICES 522100 3986306 3986306 11388259 447679679 277331454 2255307 168092918 12509432 72609323 1390018 13060772 1060387 7154395 2143403 18884378 7058180 10354574 13889717 19657504 1010163 81263047 3570666 683609 DIVIDENDS PAID TO MEMBE 77665086 LOAN PROCESSING 10065601 OTHER GENERAL AND ADMIN 1636844 FRAUD LOSS 1186704 545733 357399536 458630317 2431780563 6249521365 5904227353 9197001 9488798 157306810 124860177 35673574 32446633 4267300535 4805852495 218204510 296417384 11238527302 13480213226 73554035 144971962 525000000 3325000000 8968685912 8290645490 9567239947 11760617452 X 0 0 0 0 1671287355 1719595774 1671287355 1719595774 11238527302 13480213226 X 90280143 554 -40927278 -1045000 X X 0 1 X 1 0 12020901 12020901 39856876 29099649 10757227 21596175 20050632 1545543 83379619 75709896 7669723 453239 453239 32446633 GOVERNMENT INVESTMENTS 4788592102 F FHLB OF SAN FRANCISCO 17250000 F CERTIFICATES OF DEPOSIT 10393 F 4805852495 MEMBERS' SHARES 8267182803 LEASE LIABILITY 23462687 8290645490 X PART X, LINE 2: SAN DIEGO COUNTY CREDIT UNION (THE CREDIT UNION) IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES, EXCEPT FOR UNRELATED BUSINESS INCOME, AS DEFINED IN IRC SECTION 512 AND IN TECHNICAL ADVICE MEMORANDUMS (TAM) RELEASED IN 2007 TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. PART X, LINE 2: SAN DIEGO COUNTY CREDIT UNION 95-1184903 IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. MANAGEMENT HAS DETERMINED THAT NO MATERIAL LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. FASB CODIFICATION TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. X X X X 1 1 0 TERESA CAMPBELL CEO & PRESIDENT 1368325 0 1680000 0 52309 0 1721701 0 57652 0 4879987 0 0 0 CAROLYN KISSICK EVP, ERM & CHIEF RISK OFFICE 465466 0 200000 0 456947 0 159433 0 19217 0 1301063 0 436548 0 NATHAN SCHMIDT EVP, CHIEF EXPERIENCE OFFICER 570598 0 225000 0 28910 0 185556 0 19440 0 1029504 0 0 0 MICHELLE PAGNI FORMER EVP, RETAIL 475071 0 0 0 390245 0 12800 0 10736 0 888852 0 364244 0 MICHAEL BRADSHAW EVP, REAL ESTATE LENDING 497124 0 250000 0 3662 0 13200 0 33163 0 797149 0 0 0 DAVID PERKINS EVP, INFORMATION TECHNOLOGY 438661 0 150000 0 6858 0 163169 0 29150 0 787838 0 0 0 AARON SATO CFO & EXECUTIVE VICE PRESIDENT 507634 0 200000 0 1242 0 13200 0 24097 0 746173 0 0 0 RYAN LITTLE EVP, CONSUMER LENDING 437149 0 200000 0 20601 0 13200 0 28856 0 699806 0 0 0 LAUREN LAPPINGA EVP, HUMAN RESOURCES 390353 0 150000 0 10026 0 13200 0 26939 0 590518 0 0 0 SHEENA PEOPLES EVP, OPERATIONS & CHIEF SALES 342920 0 150000 0 25399 0 12019 0 12645 0 542983 0 0 0 SCOTT CARROLL CHIEF TECHNOLOGY OFFICER 355542 0 40000 0 2322 0 12313 0 27135 0 437312 0 0 0 DONALD JARRETT SVP, REAL ESTATE 306727 0 45000 0 1242 0 13200 0 39921 0 406090 0 0 0 BRADLEY BATES SVP, INTERNAL AUDIT 272642 0 65000 0 32755 0 13200 0 17712 0 401309 0 0 0 SCOTT MAXWELL SVP, CHIEF IT SECURITY OFFICER 251511 0 40000 0 34515 0 13079 0 26465 0 365570 0 0 0 SUSAN FARGO SVP, INVESTMENT & WEALTH 272909 0 20000 0 810 0 11988 0 33093 0 338800 0 0 0 CINDY LE EVP, RETAIL 200571 0 10000 0 817 0 8133 0 2757 0 222278 0 0 0 PART I, LINES 4A-B: SAN DIEGO COUNTY CREDIT UNION PROVIDES CERTAIN OFFICERS, DIRECTORS, KEY EMPLOYEES AND HIGHLY COMPENSATED EXECUTIVES WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN OR RETENTION PLAN. AMOUNTS CREDITED TO PARTICIPANTS ARE SUBJECT TO FORFEITURE IF CERTAIN EMPLOYMENT CONDITIONS AND VESTING PERIODS ARE NOT MET. FOR THE YEAR ENDING DECEMBER 31, 2023, THE FOLLOWING INDIVIDUALS LISTED IN SCHEDULE J, PART II HAD AN AMOUNT RELATING TO THE SERP BENEFITS LISTED AS DEFERRED COMPENSATION LISTED IN COLUMN C: TERESA CAMPBELL: $1,708,501 CAROLYN KISSICK: $146,233 NATHAN SCHMIDT: $172,356 DAVID PERKINS: $150,000 FOR THE YEAR ENDING DECEMBER 31, 2023, THE FOLLOWING INDIVIDUALS LISTED IN SCHEDULE J, PART II HAD A DISTRIBUTION AMOUNT RELATING TO THE SERP BENEFITS LISTED AS OTHER COMPENSATION LISTED IN COLUMN B(III): MICHELLE PAGNI: $364,244 (PAID FEB 2023) CAROLYN KISSICK: $436,548 (PAID JUNE 2023) FORM 990, PART VI, SECTION A, LINE 7A SAN DIEGO COUNTY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B SAN DIEDO COUNTY CREDIT UNION MEMBERS 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 11B THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER, WHO CONSULTS WITH AN EXTERNAL CPA FIRM AND LEGAL COUNSEL AS NEEDED TO ENSURE THE ACCURACY AND SUFFICIENCY OF ALL RESPONSES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS ANNUALLY OBTAINS AN INDEPENDENT PROFESSIONAL ASSESSMENT OF MARKET COMPENSATION FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE INDEPENDENT PROFESSIONAL ASSESSMENT OF MARKET COMPENSATION AND RECOMMENDS THE CHIEF EXECUTIVE OFFICER'S COMPENSATION, WHICH IS DISCUSSED AND APPROVED BY THE BOARD OF DIRECTORS. THE DECISION IS CONTEMPORANEOUSLY DOCUMENTED IN A MEMO AND KEPT IN THE CHIEF EXECUTIVE OFFICER'S PERSONNEL FILE. AN INDEPENDENT PROFESSIONAL ASSESSMENT OF MARKET COMPENSATION IS ALSO OBTAINED FOR OTHER EXECUTIVE TEAM MEMBERS (EXECUTIVE VICE PRESIDENTS), AS WELL AS THE SENIOR VICE PRESIDENT/DIRECTOR OF INTERNAL AUDIT. THE PRESIDENT AND CHIEF EXECUTIVE OFFICER REVIEWS AND APPROVES THE COMPENSATION FOR THE EXECUTIVE TEAM. THESE DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN A MEMO AND KEPT IN THEIR RESPECTIVE PERSONNEL FILES. THE LAST TIME THE REVIEW AND APPROVAL PROCESS OCCURRED FOR THE CHIEF EXECUTIVE OFFICER WAS IN NOVEMBER 2022. THE LAST TIME THE REVIEW AND APPROVAL PROCESS OCCURRED FOR OTHER KEY EMPLOYEES WAS IN JANUARY 2023. FORM 990, PART VI, SECTION C, LINE 19 SAN DIEGO COUNTY CREDIT UNION (THE CREDIT UNION) MAKES ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. THE CREDIT UNION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: PROVISION FOR CREDIT LOSSES -1,045,000. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. FRESH START REAL ESTATE LLC 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 452981200 REAL ESTATE CA -4565 531012 SAN DIEGO COUNTY CREDIT UNION SD FINANCIAL GROUP LLC 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 452980994 E-COMMERCE-INACTIVE CA 0 0 SAN DIEGO COUNTY CREDIT UNION