2024-11-14T18:20:30-06:00 2023-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 1100 LOS ANGELES CA 90024 990 2023-01-01 951288265 WESCOM CENTRAL CREDIT UNION WESC 8884937266 123 SOUTH MARENGO AVENUE PASADENA CA 911012428 CINDY LAW VP/CONTROLLER 8884937266 2024-11-13 1 0 NANAZ BENYAMINI P00666808 3104773924 2024-11-08 2023 2024-10-15 13:58:12Z WESCOM CREDIT UNION CINDY LAW 123 SOUTH MARENGO AVENUE PASADENA CA 911012428 742277979 0 X WWW.WESCOM.ORG X CREDIT UNION 1934 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 10 10 1007 15 5392621 0 0 0 176591593 227021524 111403390 96513536 3000000 0 290994983 323535060 627664 677922 0 0 96751423 103960953 0 0 0 127419881 195026211 224798968 299665086 66196015 23869974 5648909213 5820504418 5431653118 5569859052 217256095 250645366 X THE GENERAL MISSION OF THE CREDIT UNION IS TO PROMOTE THRIFT, HONESTY, INTEGRITY AND A SPIRIT OF SERVICE AMONG ITS MEMBERS. IN ADDITION, THE ORGANIZATION MAKES LOANS TO ITS MEMBERS AT REASONABLE RATES, INVESTS EXCESS LIQUIDITY PRUDENTLY AND WITHIN LIMITS AS PERMITTED BY CALIFORNIA LAW, AND ENGAGES IN ANY OTHER LAWFUL ACTIVITY NOT PROHIBITED BY APPLICABLE LAWS AND REGULATIONS. 0 0 THE CREDIT UNION HAD $5.8 BILLION IN ASSETS, $3.2 BILLION IN LOANS AND $4.26 BILLION IN MEMBER DEPOSITS AS OF DECEMBER 31, 2023. THE CREDIT UNION POSTED NET EARNINGS OF $30 MILLION IN 2023. THE CREDIT UNION'S 2023 INITIATIVES INCLUDED MEMBERSHIP GROWTH, ENHANCING PRODUCTS AND SERVICES, MORE GROWTH WITH MERGER AND PARTNERSHIPS, INCREASED SERVICE IN OUR COMMUNITIES, DEVELOPMENTS IN DELIVERY CHANNELS, AND LOAN GROWTH. THE CREDIT UNION THROUGH ITS EMPLOYEES, MEMBERS, AND WESCOM FOUNDATION SUPPORTED COMMUNITY OUTREACH THROUGHOUT 2023. $1,130,000+ GRANTED TO SUPPORT NON-PROFIT PARTNERS, $180,000 DONATED TO NATIONAL MULTIPLE SCLEROSIS SOCIETY, AND DONATED $35,000 TO UCLA CAMPUS LIFE & RECREATION. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 1 0 1 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 88528 0 1 1007 1 1 1 0 0 0 0 0 0 0 1 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X X CINDY LAW VPCONTROLLER 8884937266 123 S MARENGO AVENUE PASADENA CA 911012428 POURIA ABBASI BOARD MEMBER 2.00 X 1734 0 0 HANI BHIMIJI VICE CHAIRMAN 2.00 X X 10523 0 0 RON FISCHER BOARD MEMBER 2.00 X 13391 0 0 GINA FRIEDRICH BOARD MEMBER 2.00 X 13229 0 0 JESSICA GUTIERREZ BOARD MEMBER 2.00 X 3630 0 0 DANIEL KRAUS SECRETARY 2.00 X X 16991 0 0 JEFF LUONG BOARD MEMBER 2.00 X 5503 0 0 DAVID PEREZ TREASURER 2.00 X X 7095 0 0 NOEL ROSS CHAIRMAN 2.00 X X 12510 0 0 BRAD SELBY BOARD MEMBER 2.00 X 8785 0 0 WILLIAMS DARREN PRESIDENT/CEO 40.00 X 4496966 0 1327102 PIPES KEITH EXECUTIVE VP AND COO 40.00 X 1053709 0 67987 PELLISSERY JOSEPH SENIOR VP TECHNOLOGY/CIO 40.00 X 589306 0 130621 YU IRVING SENIOR VP FINANCE/CFO 40.00 X 576697 0 131817 PEDERSON MELISSA SENIOR VP ADMINISTRATION 40.00 X 521141 0 99271 FORRESTER HASHIM SENIOR VP REMOTE SERVICE DELIVERY 40.00 X 516007 0 65069 THOMAS CHARLES SENIOR VP CHIEF LENDING OFFICER 40.00 X 515396 0 51745 ALLEN JONATHON SENIOR VP FINANCIAL SERVICES AND DEPOSIT OPERATION 40.00 X 478373 0 125214 HOLLIS CARINA SENIOR VP AND GENERAL COUNSEL 40.00 X 451524 0 48990 WELCH ADRIANA SENIOR VP BRANCH OPERATIONS 40.00 X 442090 0 104749 WINKLER STEPHANIE VP HUMAN CAPITAL AND DEVELOPMENT 40.00 X 369425 0 37857 LAW CINDY CHING-CHING VP FINANCE 40.00 X 354475 0 67537 BAUMAN JONATHON VP LOAN SERVICING AND DEFAULT MANAGEMENT 40.00 X 343355 0 49402 THOMPSON LISA VP ENTERPRISE RISK 40.00 X 336402 0 38707 PACHECO MAGGIE VP MORTGAGE LENDING 40.00 X 334005 0 51745 REDDI DESIGAN VP IT OPERATIONS AND ARCHITECTURE 40.00 X 326197 0 67891 KOKONYAN GARY VP BUSINESS ANALYTICS 40.00 X 319337 0 67987 SMRCKA JEFF VP CONSUMER LENDING 40.00 X 315676 0 67937 LOPEZ VICTOR VP BRANCH OPERATIONS 40.00 X 314908 0 30367 DY-RAGOS MARK VP INFORMATION SECURITY 40.00 X 310821 0 50402 HOSHIDE DARREN VP BRANCH OPERATIONS 40.00 X 298193 0 50902 SEDLAK BRIAN VP INFORMATION TECHNOLOGY DEVELOPMENT 40.00 X 297137 0 37857 CERWINSKI DAVID VP CORPORATE DEVELOPMENT AND PRESIDENT WRG 40.00 X 290966 0 49568 DOUGLASS RUSSELL VP TREASURY 40.00 X 286847 0 64937 KWE PAN FINANCIAL ADVISOR 40.00 X 472305 0 48393 RUBIA PHILIP FINANCIAL ADVISOR 40.00 X 322854 0 24607 THIEU TRUONG FINANCIAL ADVISOR 40.00 X 320975 0 32973 THORMAN ASHANA JEFFERSON WEALTH ADVISOR 40.00 X 237579 0 42744 FRENCH BARRIE DIRECTOR INVESTMENTS 40.00 X 224429 0 47461 15810486 0 3081839 102 0 1 0 GRAIL BRAND DESIGN LLC 12 CORPORATE PLAZA DRIVE SUITE 200 NEWPORT BEACH CA 92660 ADVERTISING 2586897 ACCENTURE 500 W MADISON ST 20TH FL CHICAGO IL 60661 SOFTWARE SERVICES 520533 ORRAVAN MECHANICAL INC 6134 FACULTY AVENUE LAKEWOOD CA 90712 REPAIRS & MAINTENANCE 462636 ROPES & GRAY LLP PO BOX 70280 MAIL CODE 11104 PHILADELPHIA PA 19176 LEGAL SERVICES 427817 MCDERMOTT AND BULL 2 VENTURE SUITE 100 IRVINE CA 92618 RECRUITMENT SERVICES 330128 17 INTEREST INCOME 522100 155288060 155212036 76024 FEE INCOME 522100 42465803 42087933 377870 OTHER OPERATING INCOME 522100 29267661 24328934 4938727 227021524 96170337 96170337 417700102 1386016 418628431 114488 -928329 1271528 343199 343199 323535060 318142439 5392621 0 662922 15000 15478083 70087644 5576656 7264012 5554558 942328 267851 4000 1222448 8765733 18247924 6114586 12104386 1659681 97850082 14315419 683328 LOAN SERVICING 20102766 PROVISION CREDITS 6500000 OPERATING EXPENSES 4790100 TAXES & LICENSES 1295229 160350 299665086 25445027 26315288 164455129 173272150 12877359 15906696 7117232 9208429 197555902 123996319 68601286 73559583 2034631496 2031886267 3053591320 3201479549 8100139 8100139 274090225 280776317 5648909213 5820504418 90580730 93828298 5341072388 5476030754 5431653118 5569859052 X 0 0 0 0 217256095 250645366 217256095 250645366 5648909213 5820504418 X 23869974 52115962 -42596665 X 0 1 X 1 0 4000 CA CREDIT UNION LEAGUE 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 942329967 4000 0 6000000 6000000 50413265 25656867 24756398 20131501 10625890 9505611 120143528 87713562 32429966 867608 867608 73559583 LOANS AND INVESTMENTS IN NATURAL PERSON CUS 100000 C ALL OTHER INVESTMENTS 20533300 F LOANS AND LEASES 3140605814 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 40240435 C 3201479549 OTHER NOTES AND INTEREST PAYABLE 1211979944 SHARES AND DEPOSITS 4262263640 DEFERRED REVENUE 1787170 5476030754 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARIES, WESCOM FINANCIAL SERVICES, LLC AND WESCOM RESOURCES GROUP, LLC ARE SUBJECT TO STATE AND FEDERAL INCOME TAX. OPERATIONS OF THE WHOLLY OWNED SUBSIDIARIES RESULTED IN AN INSIGNIFICANT AMOUNT OF INCOME TAXES FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE SUBSIDIARIES ARE SUBJECT TO U.S. FEDERAL INCOME TAX AS WELL AS INCOME TAX OF THE STATE OF CALIFORNIA. THE SUBSIDIARIES ARE NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2019. THE SUBSIDIARIES RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN OTHER EXPENSE. THERE WERE NO INTEREST OR PENALTIES RECORDED IN 2023 OR 2022. 1 AUSTRALIA ATHLETIC GRANT 7500 GERMANY ATHLETIC GRANT 7500 0 0 0 0 0 0 15000 0 15000 GRANT TO COLLEGIATE ATHLETICS EAST ASIA AND THE PACIFIC 1 7500 ACH DIRECT DEPOSIT GRANT TO COLLEGIATE ATHLETICS GERMANY 1 7500 ACH DIRECT DEPOSIT 0 0 0 0 0 0 SCH F PART V THESE GRANTS ARE TAXABLE TO THE RECIPIENTS, AND FOREIGN WITHHOLDING FORMS HAVE BEEN FILED ACCORDINGLY. 0 CHILDREN'S MIRACLE NETWORK 2855 E GUASTI ROAD SUITE 600 ONTARIO CA 917611250 870387205 501(C)(3) 46016 0 TO INCREASE FUNDS AND AWARENESS FOR CHILDREN'S HOSPITAL LOS ANGELES. WESCOM FOUNDATION 123 SOUTH MARENGO AVENUE PASADENA CA 91101 311709115 501(C)(3) 551653 0 TO PROVIDE FINANCIAL SUPPORT TO SPONSOR COMMUNITY SERVICE OPPORTUNITIES. FRIENDS IN DEED 444 EAST WASHINGTON BLVD PASADENA CA 91104 951644608 501(C)(3) 12500 0 FINANCIAL ASSISTANCE IN ORDER TO PROVIDE SUPPORTIVE SERVICES TO MEET BASIC HUMAN NEEDS. RICHARD MYLES JOHNSON FOUNDATION 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 917611250 956141173 501(C)(3) 20500 0 GENERAL SUPPORT UCLA FOUNDATION 10889 WILSHIRE BLVD STE 1500 LOS ANGELES CA 90024 952250801 501(C)(3) 25500 0 GENERAL SUPPORT CHILDREN HOSPITAL LOS ANGELES 4650 SUNSET BOULEVARD LOS ANGELES LOS ANGELES CA 90027 951690977 501(C)(3) 6603 0 GENERAL SUPPORT 6 0 X X 1 1 X X X X 0 1 0 WILLIAMS DARREN PRESIDENT/CEO 935938 0 504750 0 3056278 0 1294807 0 32295 0 5824068 0 3000000 0 PIPES KEITH EXECUTIVE VP AND COO 481128 0 239544 0 333037 0 22500 0 45487 0 1121696 0 300000 0 PELLISSERY JOSEPH SENIOR VP TECHNOLOGY/CIO 423243 0 155657 0 10406 0 88184 0 42437 0 719927 0 0 0 YU IRVING SENIOR VP FINANCE/CFO 376898 0 178944 0 20855 0 86330 0 45487 0 708514 0 0 0 PEDERSON MELISSA SENIOR VP ADMINISTRATION 371353 0 123423 0 26365 0 83414 0 15857 0 620412 0 0 0 ALLEN JONATHON SENIOR VP FINANCIAL SERVICES AND DEP 347136 0 118082 0 13155 0 95969 0 29245 0 603587 0 0 0 FORRESTER HASHIM SENIOR VP REMOTE SERVICE DELIVERY 364114 0 135974 0 15919 0 46670 0 18399 0 581076 0 0 0 THOMAS CHARLES SENIOR VP CHIEF LENDING OFFICER 360355 0 124812 0 30229 0 22500 0 29245 0 567141 0 0 0 WELCH ADRIANA SENIOR VP BRANCH OPERATIONS 328163 0 108939 0 4988 0 95000 0 9749 0 546839 0 0 0 KWE PAN FINANCIAL ADVISOR 0 0 471485 0 820 0 22500 0 25893 0 520698 0 0 0 HOLLIS CARINA SENIOR VP AND GENERAL COUNSEL 332833 0 102623 0 16068 0 46193 0 2797 0 500514 0 0 0 LAW CINDY CHING-CHING VP FINANCE 270945 0 72658 0 10872 0 22500 0 45037 0 422012 0 0 0 WINKLER STEPHANIE VP HUMAN CAPITAL AND DEVELOPMENT 285238 0 73828 0 10359 0 22500 0 15357 0 407282 0 0 0 REDDI DESIGAN VP IT OPERATIONS AND ARCHITECTURE 260383 0 64231 0 1583 0 22404 0 45487 0 394088 0 0 0 BAUMAN JONATHON VP LOAN SERVICING AND DEFAULT MANAGE 263862 0 71073 0 8420 0 22500 0 26902 0 392757 0 0 0 KOKONYAN GARY VP BUSINESS ANALYTICS 248185 0 68399 0 2753 0 22500 0 45487 0 387324 0 0 0 PACHECO MAGGIE VP MORTGAGE LENDING 262703 0 69790 0 1512 0 22500 0 29245 0 385750 0 0 0 SMRCKA JEFF VP CONSUMER LENDING 247550 0 66774 0 1352 0 22500 0 45437 0 383613 0 0 0 THOMPSON LISA VP ENTERPRISE RISK 262688 0 69614 0 4100 0 22500 0 16207 0 375109 0 0 0 DY-RAGOS MARK VP INFORMATION SECURITY 246059 0 63419 0 1343 0 22500 0 27902 0 361223 0 0 0 THIEU TRUONG FINANCIAL ADVISOR 0 0 320593 0 382 0 22500 0 10473 0 353948 0 0 0 DOUGLASS RUSSELL VP TREASURY 220876 0 59257 0 6714 0 22500 0 42437 0 351784 0 0 0 HOSHIDE DARREN VP BRANCH OPERATIONS 224318 0 58033 0 15842 0 22500 0 28402 0 349095 0 0 0 RUBIA PHILIP FINANCIAL ADVISOR 6746 0 315726 0 382 0 15698 0 8909 0 347461 0 0 0 LOPEZ VICTOR VP BRANCH OPERATIONS 236458 0 61589 0 16861 0 20294 0 10073 0 345275 0 0 0 CERWINSKI DAVID VP CORPORATE DEVELOPMENT AND PRESIDE 224657 0 60538 0 5771 0 22500 0 27068 0 340534 0 0 0 SEDLAK BRIAN VP INFORMATION TECHNOLOGY DEVELOPMEN 227824 0 61573 0 7740 0 22500 0 15357 0 334994 0 0 0 THORMAN ASHANA JEFFERSON WEALTH ADVISOR 0 0 234289 0 3290 0 16849 0 25895 0 280323 0 0 0 FRENCH BARRIE DIRECTOR INVESTMENTS 192051 0 29497 0 2881 0 18353 0 29108 0 271890 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: THE PRESIDENT IS AUTHORIZED TO INCUR FIRST CLASS TRAVEL EXPENSES ON BEHALF OF HIS/HER SPOUSE PROVIDED THAT THE PRESIDENT SHALL BE RESPONSIBLE FOR ALL TAXES FOR ANY SUCH EXPENSES, AND THE TRAVEL IS RELATED TO THE CREDIT UNION AND IN THE BEST INTEREST OF THE CREDIT UNION. PART I, LINE 4B THE CREDIT UNION MAINTAINS A NONQUALIFIED DEFERRED COMPENSATION PLAN. FOR TAX YEAR 2023, THE FOLLOWING INDIVIDUALS HAVE EARNED BUT UNPAID INCENTIVE COMPENSATION DEFERRED UNDER A DEFERRED COMPENSATION PLAN. THE APPLICABLE AMOUNTS BELOW ARE INCLUDED AS PART OF THEIR "RETIREMENT AND OTHER DEFERRED COMPENSATION" FIGURES ON PART II COLUMN C: - DARREN WILLIAMS $1,249,807 - KEITH PIPES $0 - IRVING YU $63,830 - JONATHON ALLEN $73,469 - MELISSA PEDERSON $60,914 - JOSEPH PELLISSERY $74,678 - ADRIANA WELCH $72,500 - HASHIM FORRESTER $28,846 - CARINA HOLLIS $ 23,693 PART III TWO INDIVIDUALS, DARREN WILLIAMS AND KEITH PIPES, RECEIVED PAYOUTS DURING 2023 FROM THEIR RESPECTIVE SERP PLANS. THESE PAYOUTS WERE INCLUDED AS PART OF TAXABLE COMPENSATION IN 2023 AND WERE PREVIOUSLY REPORTED ON PRIOR YEAR FORM 990S AS DEFERRED COMPENSATION, AS REFLECTED IN COLUMN F OF PART II ADRIANA WELCH KEY EMPLOYEE 1ST MORTGAGE X 799200 577217 0 1 1 ADRIANA WELCH KEY EMPLOYEE CREDIT CARD X 4000 441 0 1 1 ADRIANA WELCH KEY EMPLOYEE CREDIT CARD X 5000 254 0 1 1 ADRIANA WELCH KEY EMPLOYEE AUTO LOAN X 48706 24714 0 1 1 CARINA HOLLIS KEY EMPLOYEE 1ST MORTGAGE X 393750 319001 0 1 1 CINDY CHING-CHING LAW KEY EMPLOYEE AUTO LOAN X 36578 29872 0 1 1 COLLEEN SAVAGE KEY EMPLOYEE 1ST MORTGAGE X 202500 184515 0 1 1 DARREN WILLIAMS OFFICER HELOC X 700000 699546 0 1 1 DARREN WILLIAMS OFFICER 1ST MORTGAGE X 2695170 2605280 0 1 1 DARREN WILLIAMS OFFICER AUTO LOAN X 80000 73888 0 1 1 DAVID CERWINSKI KEY EMPLOYEE 1ST MORTGAGE X 390000 259825 0 1 1 DAVID CERWINSKI KEY EMPLOYEE AUTO LOAN X 60000 11521 0 1 1 IRVING YU OFFICER 1ST MORTGAGE X 800000 742866 0 1 1 IRVING YU OFFICER HELOC X 250000 110000 0 1 1 JONATHON ALLEN KEY EMPLOYEE AUTO LOAN X 65000 62659 0 1 1 JONATHON ALLEN KEY EMPLOYEE HELOC X 1000000 700000 0 1 1 JONATHON BAUMAN KEY EMPLOYEE HELOC X 438500 25798 0 1 1 KEITH PIPES OFFICER 1ST MORTGAGE X 2280000 2148890 0 1 1 KEITH PIPES OFFICER CREDIT CARD X 24500 554 0 1 1 MAGGIE PACHECO KEY EMPLOYEE HELOC X 425000 411000 0 1 1 MAGGIE PACHECO KEY EMPLOYEE 1ST MORTGAGE X 776000 678000 0 1 1 MARK DY-RAGOS KEY EMPLOYEE 1ST MORTGAGE X 680000 605699 0 1 1 MELISSA PEDERSON-DULAY KEY EMPLOYEE CREDIT CARD X 26500 23057 0 1 1 MELISSA PEDERSON-DULAY KEY EMPLOYEE AUTO LOAN X 70470 32680 0 1 1 MELISSA PEDERSON-DULAY KEY EMPLOYEE 1ST MORTGAGE X 636000 510393 0 1 1 MELISSA PEDERSON-DULAY KEY EMPLOYEE HELOC X 350000 349220 0 1 1 RUSSELL DOUGLAS KEY EMPLOYEE 1ST MORTGAGE X 438000 347009 0 1 1 SYLVIE OHANNESSIAN KEY EMPLOYEE 1ST MORTGAGE X 682000 567339 0 1 1 SYLVIE OHANNESSIAN KEY EMPLOYEE AUTO LOAN X 30190 25394 0 1 1 VICTOR LOPEZ KEY EMPLOYEE 1ST MORTGAGE X 362000 240377 0 1 1 DARREN HOSHIDE KEY EMPLOYEE 1ST MORTGAGE X 812000 759615 0 1 1 DARREN HOSHIDE KEY EMPLOYEE AUTO LOAN X 120000 99007 0 1 1 DARREN HOSHIDE KEY EMPLOYEE HELOC X 155000 154253 0 1 1 HELIO MARTINEZ KEY EMPLOYEE 1ST MORTGAGE X 200000 122912 0 1 1 DANIEL MOORE KEY EMPLOYEE 1ST MORTGAGE X 507500 391846 0 1 1 DANIEL MOORE KEY EMPLOYEE HELOC X 350000 346820 0 1 1 GARY KOKONYAN KEY EMPLOYEE AUTO LOAN X 21871 5485 0 1 1 ASHLEY WHITE KEY EMPLOYEE 1ST MORTGAGE X 327700 303751 0 1 1 ASHLEY WHITE KEY EMPLOYEE AUTO LOAN X 46158 16531 0 1 1 RALPH BAUTISTA KEY EMPLOYEE 1ST MORTGAGE X 376000 229701 0 1 1 RALPH BAUTISTA KEY EMPLOYEE HELOC X 100000 24620 0 1 1 DONALD SABLATURA KEY EMPLOYEE 1ST MORTGAGE X 599500 573194 0 1 1 DONALD SABLATURA KEY EMPLOYEE AUTO LOAN X 60000 59281 0 1 1 DONALD SABLATURA KEY EMPLOYEE AUTO LOAN X 35000 35000 0 1 1 MARISA SUE KEY EMPLOYEE 1ST MORTGAGE X 416000 376009 0 1 1 MARISA SUE KEY EMPLOYEE AUTO LOAN X 23583 15568 0 1 1 CINDY CHING-CHING LAW KEY EMPLOYEE CREDIT CARD X 50000 5274 0 1 1 VICTOR LOPEZ KEY EMPLOYEE CREDIT CARD X 26800 4358 0 1 1 DANIEL MOORE KEY EMPLOYEE CREDIT CARD X 20500 16004 0 1 1 GARY KOKONYAN KEY EMPLOYEE CREDIT CARD X 26500 458 0 1 1 15906696 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS OWNED BY MEMBERS, MEMBERSHIP IS AVAILABLE TO ANY AND ALL PERSONS WHO LIVE, REGULARLY WORK, CURRENTLY ATTEND SCHOOL, OR CURRENTLY WORSHIP IN THE TWENTY-ONE COUNTIES OF CALIFORNIA. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS MEMBERS WHO MAY ELECT THE GOVERNING BODY. EACH MEMBER HAS ONE VOTE TO ELECT THE MEMBERS FOR THE GOVERNING BODY OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE DIRECTORS, ELECTIONS ARE HELD AND BOARD DECISIONS REGARDING ELECTION OR REMOVAL OF DIRECTORS ARE VOTED ON BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY THE VP CONTROLLER, THE SVP CHIEF FINANCIAL OFFICER, AND THE CEO OF THE ORGANIZATION. THE RETURN THEN GOES THROUGH A FINAL REVIEW BY THE BOARD OF DIRECTORS BEFORE FINAL SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS ENFORCED AND MONITORED THROUGH OUR VARIOUS REPORTING MECHANISMS (ETHICS POINT, OPEN DOOR COMMUNICATION POLICY, WHICH INCLUDES RECOMMENDING THAT EMPLOYEES DISCUSS THE ISSUES WITH THEIR MANAGER, HUMAN RESOURCES, SENIOR MANAGEMENT OR THE CEO), WE ADDRESS THE ISSUE AND USE OUR POLICY FOR GUIDANCE, WHICH PROMOTES CONSISTENCY. FORM 990, PART VI, SECTION B, LINE 15 CEO'S COMPENSATION: WESCOM CREDIT UNION'S BOARD OF DIRECTORS PARTNERS WITH A THIRD PARTY VENDOR TO PERFORM REGULAR REVIEWS TO ENSURE THAT THE PRESIDENT/CEO'S SALARY AND TARGET INCENTIVE REMAIN IN THE APPROPRIATE RELATIONSHIP TO THE MARKET. OUR THIRD PARTY CONSULTANT EXAMINES THE CURRENT COMPENSATION MARKET THROUGH AN ANALYSIS WHICH INCLUDES A CREDIT UNION PEER GROUP BASED ON ASSET SIZE AND FINANCIAL PERFORMANCE. IN ADDITION, THE PRESIDENT/CEO'S SUPPLEMENTAL RETIREMENT ACCOUNT IS REVIEWED WITH THE BOARD TO EVALUATION INVESTMENT PERFORMANCE AND TO CONSIDER ANY PROGRAM ADJUSTMENTS THAT NEED TO BE MADE TO ENSURE THE PROGRAM REMAINS APPROPRIATE TO THE MARKET. THE BOARD APPROVES ALL CHANGES TO THE PRESIDENT/CEO'S COMPENSATION AND SUPPLEMENTAL RETIREMENT PLANS. FORM 990, PART VI, SECTION B, LINE 15B: OTHER KEY EMPLOYEES' COMPENSATION: WESCOM CREDIT UNION PARTNERS WITH A THIRD PARTY TO PERFORM A PERIODIC REVIEW TO ENSURE THAT THE EXECUTIVE AND STAFF TEAM MEMBERS' SALARY RANGES AND TARGET INCENTIVES REMAIN IN AN APPROPRIATE RELATIONSHIP WITH THE MARKET. OUR THIRD PARTY CONSULTANT EXAMINES THE CURRENT COMPENSATION MARKET THROUGH AN ANALYSIS WHICH INCLUDES A CREDIT UNION PEER GROUP BASED ON ASSET SIZE AND FINANCIALS PERFORMANCE. THE HR COMMITTEE OF THE BOARD REVIEWS THE INFORMATION AND PREPARES A RECOMMENDATION FOR THE BOARD OF DIRECTORS APPROVAL. FORM 990, PART VI, SECTION C, LINE 18 FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. REQUESTS REGARDING GOVERNING DOCUMENTS AND CONFLICT OF INTERESTS CAN BE SUBMITTED TO THE ORGANIZATION AND COPIES WILL BE PROVIDED UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S INFORMATIONAL RETURN IS AVAILABLE UPON REQUEST OR ON A PUBLIC WEBSITE, GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: ADJUSTMENT DUE TO THE ADOPTION OF THE CECL METHOD -37,000,000. CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS -6,292,260. CHANGE IN FUNDED STATUS OF DEFINED BENEFIT PENSION PLAN 695,595. WESCOM FINANCIAL SERVICES LLC 123 SOUTH MARENGO AVENUE PASADENA CA 91101 954853684 FINANCIAL SERVICES CA 404733 0 WESCOM CREDIT UNION WESCOM RESOURCES GROUP LLC 123 SOUTH MARENGO AVENUE PASADENA CA 91101 431966875 DATA PROCESSING CA 5008578 6737708 WESCOM CREDIT UNION WESCOM FOUNDATION 123 SOUTH MARENGO AVENUE PASADENA CA 91101 311709115 CHARITY FUND CA 501(C)(3) LINE 10 N/A 0 WESCOM CENTER ASSOCIATION INC 5601 E LA PALMA AVE ANAHEIM CA 92807 562628434 MANAGEMENT OF REAL PROPERTY CA WESCOM CENTRAL CREDIT UNION C 16812 0.33820 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 WESCOM FINANCIAL SERVICES LLC J 56360 ACTUAL AMOUNT PAID WESCOM RESOURCES GROUP LLC J 1378272 ACTUAL AMOUNT PAID WESCOM FOUNDATION B 121202 EMPLOYEE CONTRIB. PLUS WCCU MATCH WESCOM FOUNDATION B 491052 AMOUNT OF CONTRIBUTION WESCOM FOUNDATION B 339055 AMOUNT OF MEMBER CONTRIBUTION