2023-10-02T19:17:37-05:00 2022-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2022-01-01 951652797 VALLEY STRONG CU FKA KERN SCHOOLS FEDERAL CREDIT UNION VALL 6618337900 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 LINDSAY REYES SVP/CFO 6618337900 2023-09-26 1 LINDSAY REYES 999009999 1 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NICHOLAS AMBROSINI 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 205551126 0 X WWW.VALLEYSTRONG.COM X CREDIT UNION 1938 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 13 12 793 18 -121662 0 0 0 106240457 184022787 22857820 4880510 2691659 5163929 131789936 194067226 1291795 2226640 0 0 42425578 63116903 0 0 0 57277032 112071008 100994405 177414551 30795531 16652675 3451789893 4187947178 3115676692 3886683632 336113201 301263546 X SEE SCHEDULE OVALLEY STRONG 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 A COOPERATIVE, VALLEY STRONG CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 MEMBERSHIP EDUCATION CONFERENCES: WE HAVE EXTENSIVE WORKSHOP/ONLINE SEMINAR PROGRAMS WITH TOPICS WHICH TYPICALLY ARE HELD TWICE A MONTH. TOPICS COVERED ARE AUTO AND HOME BUYING, RETIREMENT AND WEALTH MANAGEMENT, BUSINESS BANKING, CYBER SECURITY AND MEDICARE ASSISTANCE. ADDITIONALLY, WE HOLD FINANCIAL LITERACY CLASSES OFF SITE AT LOCAL SCHOOLS K-12 AS WELL AS AREA COLLEGES TO HELP INTRODUCE OUR YOUNG COMMUNITY MEMBERS WITH FINANCIAL KNOWLEDGE. ONGOING MARKETING STRATEGIES: WE HAVE FOCUSED OUR MARKETING EFFORTS ON BRANDING IN OUR EXPANSION MARKETS WHICH INCLUDE CHECKING OFFERS, MORTGAGE AND AUTO LOAN OPTIONS, BUSINESS BANKING OPPORTUNITIES, AND RETIREMENT AND WEALTH MANAGEMENT POSSIBILITIES. COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: WE KEEP MEMBERS UPDATED, PROVIDING ALL RULES AND REGULATIONS GOVERNING THE CREDIT UNION AS WELL AS COMPLIANCE ASSISTANCE. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 33094 0 1 793 1 1 1 0 0 0 0 0 1 0 X 13 12 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 0 1 1 1 0 CA X X STACY PHELPS CONTROLLER 6618337024 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 DR LARRY REIDER BOARD CHAIRPERSON 3.00 X 0 0 0 MIKE KILEEN 1ST VICE CHAIRMAN 3.00 X 0 0 0 CARL BA LANGE III TREASURER 3.00 X 0 0 0 JOANNE MILLS SECRETARY 3.00 X 0 0 0 JOE DREW BOARD MEMBER 3.00 X 0 0 0 DR S WILLIAM BRUCE BOARD MEMBER 2.00 X 0 0 0 MARILYN JONES BOARD MEMBER 2.00 X 0 0 0 DR DENNIS SCOTT BOARD MEMBER 2.00 X 0 0 0 DR JAMES FILLBRANDT BOARD MEMBER 2.00 X 0 0 0 DR BRYON SCHAEFER BOARD MEMBER 2.00 X 0 0 0 VALENCIA JONES BOARD MEMBER 2.00 X 975 0 0 MARK MORENO BOARD MEMBER 3.00 X 1703 0 0 TROY FRINGER SPVE CMTE CHAIR 2.00 X 1608 0 0 DAN SHANNON SPVE CMTE MEMBER 2.00 X 0 0 0 DOUG MILLER SPVE CMTE MEMBER 2.00 X 0 0 0 KEN GRAGG SPVE CMTE MEMBER 2.00 X 0 0 0 RAMON HENDRIX SPVE CMTE MEMBER 2.00 X 0 0 0 TENIELLE TENSLEY SPVE CMTE MEMBER 2.00 X 1163 0 0 NICHOLAS AMBROSINI PRESIDENT/CEO 45.00 X 1273801 0 71747 LINDSAY REYES SVP/CFO 45.00 X 382009 0 50649 MICHAEL P DUFFY EVP/CHIEF ADVOCACY OFFICER 45.00 X 1004706 0 83339 STEVEN MATEJKA EVP/COO 45.00 X 801278 0 45874 MIRELLA ELIZABETH REZNIC EVP/CHIEF STRATEGY OFFICER 45.00 X 731082 0 45690 CHARLES ALLEN SMITH SVP/CHIEF LENDING OFFICER 45.00 X 513958 0 35305 MARK MANNS SVP/CHIEF HUMAN RESOURCES OFFICER 45.00 X 439712 0 13766 DEANNA L BLAISE SVP OF MEMBER BUSINESS SERVICES 45.00 X 439629 0 67247 STEPHEN C ROACH SVP/CHIEF DIGITAL OFFICER 45.00 X 428151 0 71837 ERIN RICKELLE ESTELLE SVP/CHIEF MARKETING OFFICER 45.00 X 423959 0 65545 SHONNA SHEARSON SVP OF OPERATIONS 45.00 X 421575 0 12678 LINDSEY A BALUKOFF STRANGE SVP/CHIEF RETAIL OFFICER 45.00 X 333448 0 5379 NIKI MYRTO KOIMTZOGLOU SVP/CHIEF COMPLIANCE OFFICER 45.00 X 303729 0 9315 JAMES B HUSSEY VP OF WEALTH MANAGEMENT 45.00 X 402655 0 70247 BRIAN GRANT REYNOLDS VP OF REAL ESTATE LENDING 45.00 X 374098 0 65883 NORA M STROH LEGACY AMBASSADOR 45.00 X 302546 0 59268 HENA RAINA BHAT SVP/CHIEF TECHNOLOGY OFFICER 45.00 X 302145 0 23253 STEVEN G LEIGA VP OF ACCOUNTING 45.00 X 269728 0 85020 JOSHUA ALLEN FETTING VP OF CONSUMER LENDING 45.00 X 265494 0 53487 CHEI WHITMORE MARKET PRESIDENT 45.00 X 252573 0 65075 RENEE KILLION DIRECTOR OF MARKETING 45.00 X 245207 0 49541 LEE JACOBS VP OF INFORMATION TECHNOLOGY 45.00 X 235445 0 12811 AMIE J HALE VP OF EPMO AND M&A 45.00 X 234846 0 12311 CHRISTOPHER HANSON VP OF DATA OFFICE/ADVANCED ANALYTICS 45.00 X 234568 0 7265 KATHLEEN JULIA KELLY MARKET PRESIDENT 45.00 X 230688 0 40776 RICHARD NEAL SAZAMA HEAD OF FACILITIES & CAPITAL PROJECTS 45.00 X 227753 0 10915 BRIDGET LYNN JOHNSON MARKET PRESIDENT 45.00 X 225593 0 43707 STACY PHELPS VP OF ACCOUNTING 45.00 X 201264 0 11866 JAMES LAWITZ VP OF CULTURE AND COMMUNICATIONS 45.00 X 200108 0 14400 SUSAN MAYS HEAD OF RETAIL OPERATIONS 45.00 X 198451 0 26262 KEVIN MCCLOSKEY DIRECTOR OF IT DEVELOPMENT 45.00 X 196536 0 64677 KEVIN MICHAEL LANGE DIRECTOR OF CAPITAL MARKETS 45.00 X 193464 0 63620 ROBYN R POTTER DIRECTOR OF HOME LOAN CENTER 45.00 X 190964 0 33840 FRANK XIAODONG FENG FINANCIAL SERVICES PROFESSIONAL 45.00 X 751614 0 18063 DAVID JAMES RAINWATER SENIOR PROJECT MANAGER 45.00 X 344579 0 18168 AMANDA JOAN VERSTL HUMAN RESOURCES MANAGER 45.00 X 343501 0 10041 RICHARD RAMOS FINANCIAL SERVICES PROFESSIONAL 45.00 X 209285 0 10250 FAIYAZ ELAHI PRODUCT MANAGER OF CONSUMER LENDING 45.00 X 196329 0 0 14331920 0 1449117 103 0 1 0 KLASSEN AND SMITH CONSTRUCTION INC 1502 MILL ROCK WAY SUITE 170 BAKERSFIELD CA 93311 CONSTRUCTION CONTRACTOR 2811628 ALKAMI TECHNOLOGY INC DEPT 2223 PO BOX 122223 DALLAS TX 753122223 ONLINE BANKING PROVIDER 2682153 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE SYSTEM PROVIDER 1745314 XPRESS DATA INC 10983 VIA FRONTERA SAN DIEGO CA 92127 STATEMENT PROVIDER 1635989 STRATEGIC RESOURCE MANAGEMENT INC 5100 POPLAR AVE STE 2500 MEMPHIS TN 38137 PROFESSIONAL SERVICES - CONTRACT NEGOTIA 1356742 98 INTEREST ON LOANS 522100 138226650 138226650 OTHER OPERATING INCOME 522100 32337145 33454898 -1117753 FEE INCOME 522100 13458992 12462901 996091 184022787 9607771 9607771 6328259 428380 11142517 341383 -4814258 86997 -4727261 -4727261 GAIN ON SALE OF LOANS 522100 5159379 5159379 OTHER NON INTEREST INC 522100 4550 4550 5163929 194067226 194188888 -121662 0 2226640 14331920 36404359 2447193 6273493 3659938 642278 224505 14260421 4621295 18172655 7850651 5879443 2243679 14742750 5488726 729357 PROVISION FOR LOAN AND 32881838 LOAN SERVICING EXPENSE 2961257 MISC OPERATING EXPENSES 1048235 OPERATING FEES 323918 177414551 68977722 130020231 333271193 27338720 21998665 32702848 3100887 6571186 151366469 71543216 68851637 79823253 615596029 478993859 870611 588211 2254448829 3335259841 84674320 96649029 3451789893 4187947178 62509246 78013123 3053167446 3808670509 3115676692 3886683632 X 0 0 0 0 336113201 301263546 336113201 301263546 3451789893 4187947178 16652675 -51502330 0 X X 0 1 X 1 0 45400 45400 45400 1 SOL JOBRACK FOR CITY COUNSEL 425 N EL DORADO STREET STOCKTON CA 95202 1000 CCUL - PAC 1201 K ST STE 1050 SACRAMENTO CA 95814 940357265 25000 CARLOS VILLAPUDUA FOR ASSEMBLY PO BOX 1282 STOCKTON CA 95201 4500 DR JASMEET BAINS FOR ASSEMBLY 2022 1100 O ST STE 200 SACRAMENTO CA 95814 4900 NAFCU POLITICAL FUND CONTRIBUTION 3138 10TH ST NORTH ARLINGTON VA 222012149 952642719 10000 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES TO INDIVIDUALS RUNNING FOR OFFICES WHO SUPPORT CREDIT UNION ISSUES. ROB BONTA 465 CALIFONIA STREET, SUITE 425 SAN FRANCISCO, CA 94104 ID#1437201 12065214 12065214 67722262 21313587 46408675 16763479 5065050 11698429 54815514 45164579 9650935 79823253 PAID-IN CAPITAL AT CORP 2227976 C ALL OTHER INVESTMENTS 15000000 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 30304156 C NET LOANS AND LEASES 3277643363 F DEPOSITS IN COMMERCIAL BANKS 10084346 C 3335259841 TOTAL SHARE AND DEPOSITS 3319705336 ACCRUED DIVIDENDS & INTEREST PAYABLE ON SHARES & DEPOSITS 465173 BORROWINGS 488500000 3808670509 X 194067226 0 194067226 0 194067226 177414552 0 177414552 0 177414552 PART X, LINE 2: ASC 740-10-65, 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" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, MANAGEMENT HAS DETERMINED THAT THE CREDIT UNION HAS NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. STATE TAXES, IF APPLICABLE, 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. 1 FCCU2 FOUNDATION 18 S CENTER ST STOCKTON CA 95202 871724276 501(C)(3) 250000 0 FMV TO HELP SUPPORT CHARITABLE ORGANIZATIONS IN THE SAN JOAQUIN VALLEY COMMUNITY. GREATER BAKERSFIELD CHAMBER OF COMMERCE PO BOX 1947 BAKERSFIELD CA 93303 950521125 501(C)(6) 232000 0 FMV TO ASSIST IN THE EDUCATION & NETWORKING OF THE BUSINESS COMMUNITY OF BAKERSFIELD/KERN COUNTY. TAFT COLLEGE FOUNDATION 29 COUGAR ST TAFT CA 93268 432023035 501(C)(3) 110000 0 FMV TO HELP SPONSOR SCHOLARSHIPS AND THE NEW VOCATION EDUCATION BUILDING. CSUB FOUNDATION 9001 STOCKDALE HWY BAKERSFIELD CA 93311 952643086 501(C)(3) 80000 0 FMV TO ASSIST CSU BAKERSFIELD IN PROVIDING SCHOLARSHIPS & IMPROVING CAMPUS FACILITIES. KERN COMMUNITY FOUNDATION 5701 TRUXTUN AVE STE 110 BAKERSFIELD CA 93309 770555874 501(C)(3) 50000 0 FMV TO HELP ASSIST THE FOUNDATION GROW IN ITS MISSION OF COMMUNITY AND PHILANTHROPY. KERN HIGH SCHOOL DISTRICT EDUCATIONAL FOUNDATION 5801 SUNDALE AVE BAKERSFIELD CA 93309 770235452 501(C)(3) 50000 0 FMV TO SUPPORT THE EDUCATIONAL AND OTHER PROGRAMS OF THE KERN HIGH SCHOOL DISTRICT. GAMEDAY SPORTS ACADEMY 3101 GILMORE AVE STE100 BAKERSFIELD CA 93308 834479668 35000 0 FMV TO SUPPORT ACTIVITIES THAT BENEFIT THE HEALTH OF YOUNG ATHLETES IN OUR COMMUNITY. AMERICAN HEART ASSOCIATION INC 2007 O ST SACRAMENTO CA 95811 135613797 501(C)(3) 32000 0 FMV TO ASSIST IN THE ADVANCEMENT OF CARDIOVASCULAR HEALTH FOR ALL. BAKERSFIELD WOMEN'S BUSINESS CONFERENCE PO BOX 11049 BAKERSFIELD CA 93389 274473875 501(C)(3) 30000 0 FMV TO HELP PROVIDE RESOURCES FOR WOMEN AT A CROSSROADS. GLOBAL FAMILY CARE NETWORK INC PO BOX 13160 BAKERSFIELD CA 93389 208346599 501(C)(3) 30000 0 FMV TO ASSIST THE DAUGHTER PROJECT IN PROVIDING YOUTH INTERVENTION AND TREATMENT SERVICES. FAIRFIELD-SUISUN CHAMBER OF COMMERCE 111 WEBSTER ST FAIRFIELD CA 94534 941059185 501(C)(6) 29100 0 FMV TO ASSIST IN PROVIDING NETWORKING AND PROMOTIONAL OPPORTUNITIES OF MEMBER BUSINESSES. CHILDREN'S MIRACLE NETWORK HOSPITALS 18400 VON KARMAN AVE STE900 IRVINE CA 92612 870387205 501(C)(3) 25550 0 FMV TO ASSIST IN PROVIDING FUNDS AND AWARENESS FOR CHILDREN'S HOSPITALS. KERN HIGH SCHOOL DISTRICT 5801 SUNDALE AVE BAKERSFIELD CA 93309 956001764 25000 0 FMV TO PROVIDE PROGRAMS AND SERVICES TO ALLOW ALL STUDENTS TO GRADUATE FROM HIGH SCHOOL. CALIFORNIA FORWARD 925 L ST STE 600 SACRAMENTO CA 95814 260566540 501(C)(3) 20000 0 FMV TO HELP BETTER GOVERNMENT BY BRINGING COMMUNITIES TOGETHER AND CREATING INCLUSIVE ENVIRONMENTS. HOFFMANN HOSPICE OF THE VALLEY INC 4325 BUENA VISTA RD BLDG A BAKERSFIELD CA 93311 770386207 501(C)(3) 20000 0 FMV TO ASSIST IN PROVIDING COMPASSIONATE END-OF-LIFE CARE. KERN COUNTY SUPERINTENDENT OF SCHOOLS EDUCATIONAL SERVICES FOUNDATION 1300 17TH ST BAKERSFIELD CA 93301 770383293 501(C)(3) 15000 0 FMV TO HELP ASSIST THE COMMUNITY BY PROVIDING EDUCATION RESOURCES. BAKERSFIELD MEMORIAL HOSPITAL FOUNDATION PO BOX 2401 BAKERSFIELD CA 93303 953555043 501(C)(3) 15000 0 FMV TO ASSIST THE COMMUNITY BY HELPING FUND THE HOSPITAL'S HEALTHCARE TECHNOLOGY AND SERVICES. SOLANO ECONOMIC DEVCO CORPORATION 5050 BUSINESS CENTER DR STE 200 FAIRFIELD CA 94534 911790564 501(C)(6) 12500 0 FMV TO ASSIST IN THE GROWTH, AND RETAINMENT OF BUSINESS AND INDUSTRY IN SOLANO COUNTY. SUPPORT STOCKTON POLICE FOUNDATION 3439 BROOKSIDE RD STE 204 STOCKTON CA 95219 461463274 501(C)(3) 10000 0 FMV TO ASSIST IN PROVIDING FINANCIAL AND MATERIAL SUPPORT TO THE STOCKTON POLICE DEPARTMENT. BAKERSFIELD CITY SCHOOL DISTRICT 1300 BAKER ST BAKERSFIELD CA 93305 956000671 10000 0 FMV TO HELP FUND INNOVATIVE EDUCATIONAL PROGRAMS. 1984 GRUPE FAIR FUND PO BOX 7576 STOCKTON CA 95267 942985503 501(C)(3) 10000 0 FMV TO HELP PROVIDE FUNDS TO LOCAL CHARITIES. BAKERSFIELD COLLEGE FOUNDATION INC 1801 PANORAMA DR BAKERSFIELD CA 93305 510151490 501(C)(3) 9250 0 FMV TO ASSIST STUDENTS BY FUNDING SCHOLARSHIPS & ENHANCING COLLEGE FACILITIES. BAKERSFIELD CONDORS PO BOX 1806 BAKERSFIELD CA 93303 464459706 9000 0 FMV TO SUPPORT LOCAL COMMUNITIES AND SPORTS. KERN ECONOMIC DEVELOPMENT CORPORATION PO BOX 1033 BAKERSFIELD CA 93302 770151886 501(C)(6) 7500 0 FMV TO HELP ATTRACT NEW BUSINESS AND INDUSTRY TO ALL COMMUNITIES IN KERN COUNTY. MARY GRAHAM CHILDRENS FOUNDATION PO BOX 792 STOCKTON CA 95201 943377000 501(C)(3) 7500 0 FMV TO ASSIST IN PROVIDING AGED OUT FOSTER YOUTH WITH COLLEGE OR TRADE SCHOOL SCHOLARSHIPS. DINUBA CHAMBER OF COMMERCE 210 N L ST DINUBA CA 93618 940432705 501(C)(6) 7300 0 FMV TO HELP THE GROWTH AND OPPORTUNITIES IN THE CITY OF DINUBA. SAN JOAQUIN COUNTY OFFICE OF EDUCATION EDUCATIONAL FOUNDATION PO BOX 213030 STOCKTON CA 95213 680342748 501(C)(3) 6000 0 FMV TO ASSIST IN IMPROVING THE EDUCATION OF STUDENTS UNDER THE CARE OF THE SJCOE. KERN RIVER PARKWAY FOUNDATION PO BOX 1602 BAKERSFIELD CA 93302 953842364 501(C)(3) 6000 0 FMV TO SUPPORT PROJECTS THAT ADVANCE EDUCATIONAL AND SCIENTIFIC KNOWLEDGE OF THE KERN RIVER. MENDIBURU MAGIC FOUNDATION AGAINST CANCER PO BOX 20687 BAKERSFIELD CA 93390 311742956 501(C)(3) 6000 0 FMV TO ASSIST LOCAL CHILDREN AND FAMILIES THAT MAYBE BE FACING CANCER OR OTHER LIFE-THREATENING ILLNESS. 20 9 X X 1 1 X X X X 1 1 0 NICHOLAS AMBROSINI PRESIDENT/CEO 793620 0 450200 0 29981 0 18300 0 53447 0 1345548 0 0 0 LINDSAY REYES SVP/CFO 263791 0 100220 0 17998 0 18300 0 32349 0 432658 0 0 0 MICHAEL P DUFFY EVP/CHIEF ADVOCACY OFFICER 686282 0 300340 0 18084 0 18000 0 65339 0 1088045 0 0 0 STEVEN MATEJKA EVP/COO 583003 0 200240 0 18035 0 18300 0 27574 0 847152 0 0 0 MIRELLA ELIZABETH REZNIC EVP/CHIEF STRATEGY OFFICER 500987 0 200060 0 30035 0 18299 0 27391 0 776772 0 0 0 CHARLES ALLEN SMITH SVP/CHIEF LENDING OFFICER 420696 0 75070 0 18192 0 18300 0 17005 0 549263 0 0 0 MARK MANNS SVP/CHIEF HUMAN RESOURCES OFFICER 276388 0 145240 0 18084 0 13297 0 469 0 453478 0 0 0 DEANNA L BLAISE SVP OF MEMBER BUSINESS SERVICES 297446 0 130080 0 12103 0 13800 0 53447 0 506876 0 0 0 STEPHEN C ROACH SVP/CHIEF DIGITAL OFFICER 334501 0 75410 0 18240 0 18300 0 53537 0 499988 0 0 0 ERIN RICKELLE ESTELLE SVP/CHIEF MARKETING OFFICER 330901 0 75060 0 17998 0 12008 0 53537 0 489504 0 0 0 SHONNA SHEARSON SVP OF OPERATIONS 273221 0 130270 0 18084 0 12097 0 581 0 434253 0 0 0 LINDSEY A BALUKOFF STRANGE SVP/CHIEF RETAIL OFFICER 267644 0 50050 0 15754 0 5320 0 59 0 338827 0 0 0 NIKI MYRTO KOIMTZOGLOU SVP/CHIEF COMPLIANCE OFFICER 253617 0 50050 0 62 0 9315 0 0 0 313044 0 0 0 JAMES B HUSSEY VP OF WEALTH MANAGEMENT 377438 0 25160 0 57 0 16800 0 53447 0 472902 0 0 0 BRIAN GRANT REYNOLDS VP OF REAL ESTATE LENDING 344275 0 11788 0 18035 0 15487 0 50396 0 439981 0 0 0 NORA M STROH LEGACY AMBASSADOR 213628 0 76815 0 12103 0 12491 0 46777 0 361814 0 0 0 HENA RAINA BHAT SVP/CHIEF TECHNOLOGY OFFICER 66591 0 128000 0 107554 0 5118 0 18135 0 325398 0 0 0 STEVEN G LEIGA VP OF ACCOUNTING 189203 0 68422 0 12103 0 16681 0 68339 0 354748 0 0 0 JOSHUA ALLEN FETTING VP OF CONSUMER LENDING 197696 0 53550 0 14248 0 10711 0 42776 0 318981 0 0 0 CHEI WHITMORE MARKET PRESIDENT 220150 0 20320 0 12103 0 11628 0 53447 0 317648 0 0 0 RENEE KILLION DIRECTOR OF MARKETING 45348 0 6734 0 193125 0 11910 0 37631 0 294748 0 0 0 LEE JACOBS VP OF INFORMATION TECHNOLOGY 129470 0 15000 0 90975 0 5179 0 7632 0 248256 0 0 0 AMIE J HALE VP OF EPMO AND M&A 200930 0 33859 0 57 0 11730 0 581 0 247157 0 0 0 CHRISTOPHER HANSON VP OF DATA OFFICE/ADVANCED ANALYTICS 121080 0 15000 0 98488 0 7265 0 0 0 241833 0 0 0 KATHLEEN JULIA KELLY MARKET PRESIDENT 198504 0 20060 0 12124 0 8427 0 32349 0 271464 0 0 0 RICHARD NEAL SAZAMA HEAD OF FACILITIES & CAPITAL PROJECT 189686 0 20070 0 17997 0 10915 0 0 0 238668 0 0 0 BRIDGET LYNN JOHNSON MARKET PRESIDENT 190168 0 23407 0 12018 0 12138 0 31569 0 269300 0 0 0 STACY PHELPS VP OF ACCOUNTING 147163 0 54063 0 38 0 11866 0 0 0 213130 0 0 0 JAMES LAWITZ VP OF CULTURE AND COMMUNICATIONS 179778 0 20080 0 250 0 7091 0 7309 0 214508 0 0 0 SUSAN MAYS HEAD OF RETAIL OPERATIONS 146082 0 36240 0 16129 0 11905 0 14357 0 224713 0 0 0 KEVIN MCCLOSKEY DIRECTOR OF IT DEVELOPMENT 186726 0 9647 0 163 0 11230 0 53447 0 261213 0 0 0 KEVIN MICHAEL LANGE DIRECTOR OF CAPITAL MARKETS 176105 0 17329 0 30 0 10173 0 53447 0 257084 0 0 0 ROBYN R POTTER DIRECTOR OF HOME LOAN CENTER 171103 0 19620 0 241 0 10649 0 23191 0 224804 0 0 0 FRANK XIAODONG FENG FINANCIAL SERVICES PROFESSIONAL 749564 0 1963 0 87 0 17682 0 381 0 769677 0 0 0 DAVID JAMES RAINWATER SENIOR PROJECT MANAGER 97500 0 26682 0 220397 0 7452 0 10716 0 362747 0 0 0 AMANDA JOAN VERSTL HUMAN RESOURCES MANAGER 94830 0 27165 0 221506 0 4833 0 5208 0 353542 0 0 0 RICHARD RAMOS FINANCIAL SERVICES PROFESSIONAL 204551 0 4677 0 57 0 10250 0 0 0 219535 0 0 0 FAIYAZ ELAHI PRODUCT MANAGER OF CONSUMER LENDING 2596 0 42983 0 150750 0 0 0 0 0 196329 0 0 0 PART I, LINES 4A-B THE CREDIT UNION PROVIDES CERTAIN INDIVIDUALS WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS HAVE BEEN ENTERED INTO WITH THE PARTICIPANTS OF THE EXECUTIVES COVERED UNDER THE PLAN. AS PART OF THE SPLIT DOLLAR LOAN AGREEMENTS, THE EXECUTIVES HAVE ASSIGNED THE POLICIES TO THE CREDIT UNION AS COLLATERAL. THIS ASSIGNMENT SECURES REPAYMENT OF ANY ADVANCES AND ACCRUED INTEREST FOR THE POLICY PREMIUMS AND ANY OTHER ADVANCES UNDER ANY AGREEMENT. THE LOANS HAVE A FIXED INTEREST RATE, WITH INTEREST ACCRUED MONTHLY AND CAPITALIZED AS PART OF THE TOTAL LOAN BALANCE ANNUALLY. TOTAL SPLIT DOLLAR LOANS AND ACCRUED INTEREST APPROXIMATED $29,656,200 AND $21,800,000 AS OF DECEMBER 31, 2022 AND 2021,RESPECTIVELY. THE CREDIT UNION MAINTAINS NON-QUALIFIED PENSION PLANS FOR A SELECT GROUP OF MANAGEMENT. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. UNDER THIS PLAN, PARTICIPANTS DEFER A PORTION OF THEIR COMPENSATION. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE PLAN APPROXIMATED $11,378,200 AND $37,458,000 AS OF DECEMBER 31, 2022 AND 2021, RESPECTIVELY. NICHOLAS AMBROSINI OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 9900000 10129872 0 1 1 NICHOLAS AMBROSINI OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 7500000 7633882 0 1 1 NICHOLAS AMBROSINI OFFICER AUTO X 43147 40948 0 1 1 STEVEN MATEJKA OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 9150000 9362457 0 1 1 JAMES HUSSEY KEY EMPLOYEE AUTO X 77530 37773 0 1 1 JAMES HUSSEY KEY EMPLOYEE MORTGAGE LOAN X 485000 474684 0 1 1 CARL LANGE DIRECTOR MORTGAGE LOAN X 310000 306701 0 1 1 DENNIS SCOTT DIRECTOR AUTO X 54381 11427 0 1 1 MICHAEL WARRELL KEY EMPLOYEE FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 4759012 2530002 0 1 1 CHARLES SMITH OFFICER MORTGAGE LOAN X 384925 382329 0 1 1 ERIN ESTELLE OFFICER MORTGAGE LOAN X 1057500 1044374 0 1 1 BRYON SCHAEFER DIRECTOR MORTGAGE LOAN X 650000 634655 0 1 1 TENIELLE TENSLEY DIRECTOR MORTGAGE LOAN X 100000 99241 0 1 1 VALENCIA JONES DIRECTOR AUTO X 51828 11267 0 0 0 VALENCIA JONES DIRECTOR AUTO X 21000 3236 0 0 0 32702848 FORM 990, PART VI, SECTION A, LINE 6 VALLEY STRONG CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. VALLEY STRONG CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF VALLEY STRONG CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY ITS BY-LAWS. 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 11B THE 990 IS PRESENTED TO THE BOARD DURING ONE OF ITS BOARD MEETINGS. THE APPROVAL FOR FILING IS THEN DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES, BOARD AND VOLUNTEERS ARE REQUIRED TO REPORT KNOWN CONFLICTS OF INTEREST. EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY AT THE TIME OF HIRE AND ANNUALLY EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONDUCTS AN EXECUTIVE COMMITTEE SESSION TO DETERMINE SALARY OF THE PRESIDENT/CEO. VALLEY STRONG CREDIT UNION ALSO HAS A COMPENSATION SYSTEM THAT COMPARES SALARIES BASED ON OTHER CREDIT UNIONS, THEIR ASSET SIZE AND GEOGRAPHIC LOCATION. VALLEY STRONG CREDIT UNION USES RANGES FOR ALL OF THEIR POSITIONS. EACH POSITION IS THEN CAREFULLY REVIEWED. FORM 990 PART VI SECTION B LINE 15B: THE CEO AND ESC EVALUATES EACH SENIOR EXECUTIVE POSITION IN ACCORDANCE WITH VALLEY STRONG CREDIT UNION'S COMPENSATION GUIDELINES, THE COMPENSATION SYSTEM AND BASED ON THEIR OVERALL PERFORMANCE AS ASSESSED DURING THE FORMAL EVALUATION PROCESS WHICH IS CONDUCTED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 VALLEY STRONG CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. VALLEY STRONG SERVICES LLC 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 061675166 INSURANCE CA -1113967 19059560 VALLEY STRONG CREDIT UNION KERN VENTURE GROUP II LLC 5001 CALIFORNIA AVE STE 214 BAKERSFIELD CA 93309 872175951 INVESTMENT STRATEGY DE N/A UNRELATED -10543 83757 0 0 0.20000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0