2023-05-15T16:41:42-07:00 2022-12-31 990 2022-01-01 941417215 DOW GREAT WESTERN CREDIT UNION DOWG 9253311010 3457 Deer Valley Rd Antioch CA 94531 Paul Kramer CEO 9253311010 2023-05-15 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Paul Kramer 3457 Deer Valley Rd Antioch CA 94531 2135824 0 X www.dowcu.org X 1938 CA Provides Thrift Savings & Borrowing for member owned financial institution. The credit union provides one overall activity; that being a financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. The number of members/owners at 12/31/22 was 2248 with 3249 loans totaling $27,037,422 and with 4216 share deposit accounts totaling $46,399,289. 7 7 8 7 12551 12551 0 0 1173234 1758924 325976 237843 314195 139057 1813405 2135824 0 0 0 0 689615 694294 0 0 0 1107212 1456423 1796827 2150717 16578 -14893 56104925 51207764 51405380 48069039 4699545 3138725 The credit union provide thrift savings, borrowing and financial services to members of a member owned cooperative financial institution. The credit union provides overall activity; that being financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. Number of members/owners at 12/31/22 was 2248 with 3249 loans totaling $27,037,422 and with 4216 share deposit accounts totaling $46,399,289. 0 0 2150717 0 2135824 Regarding members and the member deposit side of the balance sheet, members gain from 2221 to 2248. And member deposit accounts decreased from 4216 decreased amount to $46,399,288. Dividend Interest paid on these accounts for the year was $115,202. Checking accounts increased from 1299 to 1312. Debit cards and transactions continued to grow, along with transactions on the credit union's atm. Depositing and check cashing services at the member services counter continued to grow. Loan services with 3268 loans made for $12,995,598 as well as other services around loans, such as offering mechanical breakdown insurance coverage on auto loans. And offering insurance coverage for members if they are disabled and unable to make their payments. Various types of loans, including home loans were offered, including 1st trust and 2nd trust deed and fixed and variable rate loans, home equity lines of credit and credit card loans. 0 0 0 2150717 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 659 1 8 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 X Dow Great Western Credit Union 9253311010 3457 Deer Valley Rd Antioch CA 94531 Paul Kramer CEO 80 0 X X X X X 229615 0 46527 Steven McAdams Director 1 0 X 0 0 0 Art Solis Director 2.0 0 X 0 0 0 John Jacobson Director 1 0 X 0 0 0 Curtis Tong Director 2.00 0 X 0 0 0 Sally Siemak Director 1 0 X 0 0 0 Jeff Noyer Chairperson 4 0 X 0 0 0 David Parks Secretary 4 0 X 0 0 0 229615 0 46527 1 0 1 0 FISERV 255 FISERV Drive Brookfield WI 53045 Information Systems 212188 1 0 Member Loan Interest 522100 1111919 1111919 0 0 647005 634454 12551 0 1758924 237843 237843 0 0 0 0 0 0 0 0 0 0 139057 0 0 0 139057 0 139057 139057 0 0 0 0 0 2135824 2123273 12551 0 229615 229615 293370 293370 29919 29919 103139 103139 38251 38251 0 0 0 0 0 0 0 0 0 0 0 0 70532 70532 66021 66021 226566 226566 260506 260506 0 0 518484 518484 3439 3439 9235 9235 115203 115203 106210 106210 21116 21116 Association Membership Dues 16135 16135 0 0 Provision for Loan Losses 22535 22535 0 0 Realized Loss on Investments 20441 20441 0 0 2150717 2150717 0 0 284208 232228 39629 41106 0 0 0 0 21182840 26909090 0 0 101280 96975 4158009 490668 4102130 3667341 11315057 8893903 18449143 10570280 630638 796841 56104925 51207764 342375 1455902 0 0 0 0 0 0 0 0 0 0 0 0 0 0 51063005 46613137 51405380 48069039 X 0 0 0 0 4699545 3138725 4699545 3138725 56104925 51207764 -14893 -1545927 0 0 0 0 X 1 1 1 0 708541 0 708541 2867912 0 163661 2704251 0 0 0 0 581556 0 327007 254549 0 0 0 0 3667341 0 0 Investment in Mortgage Backed Securities 6699461 F Investment in Municipal Bonds 2194442 F 8893903 Credit Union and Bank Certificates Deposits 6959000 C Corporate Credit Union Deposits 31035 C Investment in Corporate Credit Union 68479 C Investment in Credit Union Service Organization 25758 C Investment to Prefund Employee Benefits 3486008 C 10570280 0 Federal Withholding Payables to IRS 4893 Other Withholding Payable to State 1199 General Ledger Clearing Accounts 207756 Member Share Deposits 46399289 46613137 X 2135824 0 0 0 0 0 2135824 0 0 0 2135824 2150717 0 0 0 0 0 2150717 0 0 0 2150717 Schedule D, Part X, Line 2 FASB ASC 740-10-65 Income taxes provides guidance for how uncertain tax positions should be recognized, measure, disclosed and presented in the financial statements. This requires the evaluation of tax position taken or expected to be taken in course of preparing the credit unions tax returns to determine whether the positions are "more likely-than-not of being sustained "when challenged or 'when examined by applicable tax authority. Tax positions not deemed to be the more-likely-than-not of being threshold would be reposted as tax expense and liability in the current year. For year ended June 30, 2022, managements determined that there are no material uncertain tax positions, and accordingly has no recorded liability for the payment of interest or penalties. State taxes, if applicable are pain 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 Paul Kramer CEO 204615 0 25000 0 0 0 0 0 46527 0 276142 0 0 0 Schedule J, Part I, Line 3 The Salary Committee approved the top management compensation review every end of the year. Form 990, Part VI, Section A, Line 6 The credit union is a California-Not For Profit Corporation that has members/owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section A, Line 7a The credit union is a California not for Profit Corporation that has members/owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section B, Line 11b The form is prepared by Accounting Manager and reviewed and approved by the CEO. The credit union's regulator and auditor periodically reviewed it. Form 990, Part VI, Section B, Line 12c The credit union has a conflict of Interest Policy and is audited by the outside firm and examined by stste regulator that reviewed the Board of Directors accounts for any improper activity. The Board of Directors are required to disclose any conflicts of interest at the monthly Board of Directors meetings. Also the credit union has appointed Supervisory Committee that performs various independent audit procedures with the help of outside auditors. Form 990, Part VI, Section B, Line 15 The Board of Directors has approved an Employee Handbook covering compensation policy and has approved a salary scale by employee position, including management. The Board of Directors has appointed CEO salary review committee to review and make compensation recommendations to the Board of Directors along with other employees salary performed by the CEO. Form 990, Part VI, Section C, Line 19 The credit union makes its Form 990 and any documents required by regulation available upon request. It's most recent Financial Statement are posted monthly in the credit union lobby. Other governing documents are available on a case-to-case basis.