2024-11-07T13:24:01-06:00 2023-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2023-01-01 941287157 COAST CENTRAL CREDIT UNION COAS 7074458801 2650 HARRISON AVENUE EUREKA CA 95501 FRED MOORE PRESIDENT/CEO 7074458801 2024-11-01 1 0 JENIFER L CHASE P01306883 5638884000 2024-11-01 2023 2024-10-15 13:58:12Z FRED MOORE 2650 HARRISON AVENUE EUREKA CA 95501 85336490 0 X WWW.COASTCCU.ORG X 1950 CA PROVIDING FINANCIAL SERVICES TO MEMBERS. 9 9 320 70 248737 0 0 0 45774369 53747329 20749424 31526190 68099 62971 66591892 85336490 255204 357500 0 0 21108353 24041199 0 0 0 25338135 49110125 46701692 73508824 19890200 11827666 2039204894 2050365109 1909888337 1894048238 129316557 156316871 COAST CENTRAL CREDIT UNION'S MISSION IS TO BE THE PRIMARY FINANCIAL INSTITUTION FOR MEMBERS BY PROVIDING HIGH QUALITY FINANCIAL SERVICES AT COMPETITIVELY FAVORABLE RATES CONSISTENT WITH MAINTAINING FINANCIAL STRENGTH. 0 0 COAST CENTRAL CREDIT UNION PROVIDES A RANGE OF DEPOSIT SERVICES TO ITS APPROXIMATELY 77,000 MEMBERS. THESE INCLUDE SAVINGS, CHECKING, MONEY MARKET, AND SAVINGS CERTIFICATE ACCOUNTS. SERVICES CAN BE ACCESSED THROUGH OUR 11 MEMBER SERVICES BRANCHES, ONLINE, BY PHONE, OR THROUGH A LARGE NETWORK OF ATMS. COAST CENTRAL CREDIT UNION OFFERS MANY DIFFERENT LOAN PRODUCTS. THESE INCLUDE CREDIT CARDS, CONSUMER PERSONAL, AUTO, AND RV LOANS; REAL ESTATE PURCHASE, REFINANCE, AND HOME EQUITY LINES-OF-CREDIT; AND MEMBER BUSINESS LOANS. LOAN DECISIONS ARE MADE LOCALLY WITH KNOWLEDGE OF LOCAL CONDITIONS AND THE CREDIT UNION MEMBERS THEMSELVES. COAST CENTRAL CREDIT UNION IS ACTIVE IN SUPPORTING MANY LOCAL EVENTS AND CHARITIES. OVER $300,000 IS DONATED TO LOCAL CHARITABLE ORGANIZATIONS, COLLEGE SCHOLARSHIPS TO LOCAL HIGH SCHOOL GRADUATES, AND COMMUNITY PROJECTS EACH YEAR. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 42039 0 1 320 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X FRED MOORE 7074458801 2650 HARRISON AVENUE EUREKA CA 95501 JAMES SESSA PRESIDENT/CEO 40.00 X 1126292 0 76487 FRED MOORE EVP/CFO 40.00 X 451072 0 61179 ROBERT MOORE VP/CHIEF CREDIT OFFICER 40.00 X 350475 0 57506 ANN JADRO-BETTIGA VP/HUMAN RESOURCES 40.00 X 269042 0 67402 VAUGHN PETERSON VP/INFORMATION SVCS 40.00 X 295110 0 16866 KRISTIN KUXHAUSEN VP/OPERATIONS 40.00 X 260989 0 49572 JOHN GRACYALNY VP/MEMBER DIGITAL SERVICES 40.00 X 208558 0 48173 ROBIN BAILIE FORMER SECRETARY 1.00 X X 0 0 0 LOUIS BUCHER FORMER DIRECTOR 1.00 X 0 0 0 JOHN GLADDING TREASURER 2.00 X X 0 0 0 REES HUGHES DIRECTOR 1.00 X 0 0 0 DENISE JONES VICE CHAIRPERSON 2.00 X X 0 0 0 BRENDAN MCKENNY DIRECTOR 1.00 X 0 0 0 TERRY MEIERDING DIRECTOR 1.00 X 0 0 0 PETER PENNEKAMP FORMER DIRECTOR 1.00 X 0 0 0 RONALD RUDEBOCK CHAIRPERSON 2.00 X X 0 0 0 KLARK SWAN FORMER DIRECTOR 1.00 X 0 0 0 DANE VALADAO DIRECTOR 1.00 X 0 0 0 MATT WAKEFIELD DIRECTOR 1.00 X 0 0 0 KELLY WALSH DIRECTOR/SECRETARY 1.00 X X 0 0 0 2961538 0 377185 31 0 1 0 TRUEDGE BUILDS INC 2600 E BIDWELL ST STE 202 FOLSOM CA 95630 CONSTRUCTION PROJECT MANAGEMENT 2839366 PACIFIC BUILDERS 880 L STREET ARCATA CA 95521 CONSTRUCTION PROJECT MANAGEMENT 1054920 Q2 SOFTWARE PO BOX 205970 DALLAS TX 75320 ONLINE BANKING PROVIDER 707396 CUBUS 3049A INDEPENDENCE DR LIVERMORE CA 94551 MEMBER STATEMENT PROVIDER 637556 COMPUTER SERVICES INC 3901 TECHNOLOGY DRIVE PADUCAH KY 42001 DATA BACKUP SERVICES 561339 32 INTEREST ON LOANS 522100 39591888 39591888 SERVICE INCOME 522100 14155441 13906704 248737 53747329 31523250 31523250 62971 0 62971 62971 62971 2940 0 2940 2940 2940 85336490 53498592 248737 31589161 300000 57500 1715030 17099770 1589371 2282794 1354234 25613 272940 4183374 1450674 2583761 924761 1470422 86944 252807 1606368 4564643 178576 DIVIDENDS PAID TO MEMBE 29503615 PROVISION FOR LOAN LOSS 1524162 STAFF EVENTS/APPRECIATI 158876 DUES AND SUBSCRIPTIONS 157140 165449 73508824 364719956 324680496 27330912 26934466 6372478 6420706 870366739 934189305 1049279 907968 38009853 14480114 19268613 23529739 725245321 708119927 24851596 25582502 2039204894 2050365109 6853354 7060886 1710020 2035585 72074126 66286429 1829250837 1818665338 1909888337 1894048238 X 0 0 0 0 129316557 156316871 129316557 156316871 2039204894 2050365109 X 11827666 16402434 -1229786 X X 0 0 0 8467 0 0 8467 8467 1 CALIFORNIA CREDIT UNION LEAGUE PAC PO BOX 51476 ONTARIO CA 91761 942329967 8467 0 PART I-A, LINE 1: COAST CENTRAL CREDIT UNION CONTRIBUTES TO THE CALIFORNIA CREDIT UNION LEAGUE PAC TO SUPPORT CREDIT UNION ISSUES. 0 1 X 1667245 1667245 18331733 5378227 12953506 717789 614994 102795 3284731 2619174 665557 14008355 5867719 8140636 23529739 FHLB STOCK 11660600 C AVAILABLE FOR SALE GOV'T SECURITIES 339370664 F MORTGAGE-RELATED SECURITIES 309777832 F BOLI INSURANCE PLAN 36795225 F CDA INVESTMENT 10515606 F 708119927 ACCRUED INTEREST PAYABLE 75651 WORK IN PROCESS 9325374 SHARES 1809264313 1818665338 PART IV, LINE 2B: COAST CENTRAL CREDIT UNION ACTS AS CUSTODIAN ON BEHALF OF ITS MEMBER'S ESCROWED FUNDS WHICH ARE UTILIZED TO PAY REAL ESTATE TAXES AND HOME OWNERS INSURANCE ON BEHALF OF ITS MEMBERS. 1 211 HUMBOLDT INFORMATION & RESOURCE CENTER PO BOX 6683 EUREKA CA 95502 465092911 501(C)(3) 7000 0 PURCHASING CLOTHING CLOSET STORE VOUCHERS. CLOTHING PROGRAM FOR PEOPLE IN NEED. AMERICAN LEGION POST 415 PO BOX 628 HOOPA CA 95546 943004583 501(C)(3) 9499 0 REPLACE ROOF BIG LAGOON COMMUNITY SERVICES PO BOX 847 TRINIDAD CA 95570 871323961 501(C)(3) 6800 0 HELP REPLACE GENERATOR BLUE LAKE VOLUNTEER FIRE DEPARTMENT PO BOX 245 BLUE LAKE CA 95525 680461950 501(C)(3) 11500 0 CPR CENTER/FORCIBLE ENTRY EQUIPMENT CATALYST FORCE ENTRY DOOR SYSTEM CLARKE HISTORICAL MUSEUM 240 E ST EUREKA CA 95501 941651124 501(C)(3) 15587 0 PURCHASE OF DEHUMIDIFIER & INSTALLATION DEL NORTE AMATEUR RADIO CLUB 160 CLYDE ST CRESCENT CITY CA 95531 320568910 501(C)(3) 7500 0 HELP REPAIR AND UPGRADE EQUIPMENT. FORTUNA SENIOR CENTER 3000 NEWBURG RD STE B FORTUNA CA 95540 200322659 501(C)(3) 20000 0 FIRE SPRINKLER INSTALLATION GARBERVILLE FIRE PROTECTION PO BOX 288 GARBERVILLE CA 95542 680325654 CITY OF GARBERVILLE 11492 0 FIREFIGHTING EQUIPMENT GASQUET FIRE PROTECTION DISTRICT PO BOX 85 GASQUET CA 95543 680030138 CITY OF GASQUET 8900 0 FIREFIGHTING EQUIPMENT & SWIFTWATER RESCUE TRAILER HUMBOLDT COMMUNITY ACCESS AND RESOURCE CENTER 1707 E ST STE 2 EUREKA CA 95501 946107605 501(C)(3) 6570 0 SHIPPING CONTAINER FOR STORAGE HUMBOLDT SKATEPARK COLLECTIVE 2437 E COCHRAN RD MCKINLEYVILLE CA 95519 680462298 501(C)(3) 9330 0 ADA CONCRETE SIDEWALK FOR COMMUNITY SKATEPARK INK PEOPLE 627 3RD ST EUREKA CA 95501 943056179 501(C)(3) 10000 0 HUMBOLDT PERIOD PROJECT LIGHTHOUSE REPERTORY THEATRE 1020 BLACKWELL LN CRESCENT CITY CA 95531 237302035 501(C)(3) 9200 0 STAGE, LIGHTS, & SEATING FOR THEATRE NORTH FORK GRANGE NO 763 PO BOX 5 JUNCTION CITY CA 96048 850701180 501(C)(3) 25000 0 RESTORE WATER TO NORTH FORK GRANGE: BRING WATER STORAGE AND ABILITY TO USE IT WHEN POWER IS OUT. TRINITY JR WOLVES YOUTH FOOTBALL & CHEER PO BOX 2544 WEAVERVILLE CA 96093 882253829 501(C)(3) 6500 0 FOOTBALL & CHEER UNIFORMS WEAVERVILLE FIRE DEPT PO BOX 447 WEAVERVILLE CA 96093 946038146 501(C)(3) 5058 0 CPR MANIKINS WILLOW CREEK FIRE SAFETY COUNCIL PO BOX 224 WILLOW CREEK CA 95573 263766157 501(C)(3) 6835 0 CHIPPER AND CARGO TRAILER STORAGE 17 0 LOCAL COLLEGE SCHOLARSHIPS 52 57500 PART I, LINE 2: COAST CENTRAL CREDIT UNION PROVIDES A GRANT REPORT FORM WITH WRITTEN NOTIFICATION TO GRANT RECIPIENTS. AS THE GRANT PROGRAM IS A REIMBURSEMENT FORMAT, GRANT RECIPIENTS MUST INCUR THE AMOUNT OF THE GRANT EXPENSES FIRST (SOMETIMES IN PARTIAL AMOUNTS), THEN COMPLETE AND SEND THE GRANT FORM AND PROOF OF EXPENSES TO COAST CENTRAL CREDIT UNION'S VICE PRESIDENT OF MARKETING & COMMUNICATION WHO PERFORMS VERIFICATION, AND THEN INITIATES REIMBURSEMENT. COAST CENTRAL CREDIT UNION'S ACCOUNTING DEPARTMENT TRACKS REIMBURSEMENT ACTIVITY. THE ADMINISTRATION OF COAST CENTRAL CREDIT UNION APPROVES SCHOLARSHIPS. FUNDS ARE SENT DIRECTLY TO THE FINANCIAL AID OFFICES OF THE COLLEGES THE STUDENTS WILL BE ATTENDING. IF THE STUDENTS DO NOT ACTUALLY ENROLL, THE FUNDS ARE RETURNED TO THE CREDIT UNION. X X 1 1 X X 0 0 0 JAMES SESSA PRESIDENT/CEO 922249 0 184302 0 19741 0 49500 0 26987 0 1202779 0 0 0 FRED MOORE EVP/CFO 381223 0 62141 0 7708 0 36945 0 24234 0 512251 0 0 0 ROBERT MOORE VP/CHIEF CREDIT OFFICER 301130 0 41845 0 7500 0 46949 0 10557 0 407981 0 0 0 ANN JADRO-BETTIGA VP/HUMAN RESOURCES 227089 0 35607 0 6346 0 40619 0 26783 0 336444 0 0 0 VAUGHN PETERSON VP/INFORMATION SVCS 271582 0 16028 0 7500 0 3935 0 12931 0 311976 0 0 0 KRISTIN KUXHAUSEN VP/OPERATIONS 224059 0 29430 0 7500 0 26283 0 23289 0 310561 0 0 0 JOHN GRACYALNY VP/MEMBER DIGITAL SERVICES 175375 0 27737 0 5446 0 21735 0 26438 0 256731 0 0 0 PART I, LINE 1A COAST CENTRAL CREDIT UNION (THE CREDIT UNION) PROVIDE MEMBERSHIP DUES FOR JAMES SESSA AND FRED MOORE TO SERVICES CLUBS (E.G. ROTARY, KIWANIS, ETC.) FOR EDUCATIONAL, NETWORKING, AND COMMUNITY SERVICES PURPOSES. THE MEMBERSHIP DUES AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION ON SCHEDULE J, PART II. THE CREDIT UNION ALSO PROVIDES A DISCRETIONARY SPENDING ACCOUNT TO JAMES SESSA AND FRED MOORE. EXPENSES INCURRED FOR BUSINESS PURPOSES ARE REIMBURSED TO SENIOR MANAGEMENT UNDER AN ACCOUNTABLE PLAN AND ARE NOT INCLUDED IN TAXABLE COMPENSATION. ANY PERSONAL EXPENSES INCURRED ARE INCLUDED IN REPORTABLE COMPENSATION ON SCHEDULE J, PART II. JAMES SESSA OFFICER COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY X 146210 6420706 0 1 1 6420706 FORM 990, PART VI, SECTION A, LINE 6 COAST CENTRAL CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A COAST CENTRAL CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE BOARD CHAIR, AND THEN A COPY IS MADE AVAILABLE TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AN INTERESTED PERSON COVERED UNDER THE CONFLICT OF INTEREST POLICY IS ANY DIRECTOR OR MEMBER OF A VOLUNTEER COMMITTEE, WHO HAS A DIRECT OR INDIRECT INTEREST. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. EACH DIRECTOR OR VOLUNTEER COMMITTEE MEMBER SHALL ANNUALLY SIGN A STATEMENT, WHICH AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST AND FULL DISCLOSURE POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE ORGANIZATION IS A CREDIT UNION AND MUST ENGAGE PRIMARILY IN ACTIVITIES, WHICH ACCOMPLISH THE FUNCTIONS OF A CREDIT UNION. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSIONS WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION TO THE GOVERNING BOARD, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD SHALL IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CREDIT UNION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY DURING THE BUDGET PROCESS, THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION RANGES FOR THE CHIEF EXECUTIVE OFFICER. THESE RANGES ARE DEVELOPED BY THE HUMAN RESOURCES DEPARTMENT USING COMPARABLE DATA COLLECTED FROM COMPENSATION SURVEYS. THE COMPARABLE DATA INCLUDES CREDIT UNION COMPARISONS AS WELL AS COMPENSATION RANGES POSITIONS AT SIMILARLY SITUATED LOCAL ORGANIZATIONS. THE CHIEF EXECUTIVE SALARY IS BY CONTRACT AND REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THIS IS DOCUMENTED IN THE BOARD MEETING MINUTES. THE LAST TIME THIS PROCESS OCCURRED WAS IN FEBRUARY OF 2024. FORM 990, PART VI, SECTION C, LINE 19 COAST CENTRAL CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. FORM 990, PART XI, LINE 9: CURRENT EXPECTED CREDIT LOSS IMPLEMENTATION -1,229,786. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF MARCH 31ST, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST.