2023-11-03T15:01:39-05:00 2022-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2022-01-01 941287157 COAST CENTRAL CREDIT UNION COAS 7074458801 2650 HARRISON AVENUE EUREKA CA 95501 FRED MOORE EVP/CFO 7074458801 2023-11-02 1 FRED MOORE 999009999 0 JENIFER L CHASE P01306883 5638884000 2023-11-02 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JAMES SESSA 2650 HARRISON AVENUE EUREKA CA 95501 66667199 0 X WWW.COASTCCU.ORG X 1950 CA PROVIDING FINANCIAL SERVICES TO MEMBERS. 9 9 330 12 230778 0 0 0 45585474 45774369 11578813 20749424 62644 68099 57226931 66591892 282640 255204 0 0 19882447 21108353 0 0 0 23794938 25338135 43960025 46701692 13266906 19890200 2147688324 2039204894 1944359797 1909888337 203328527 129316557 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 23416 0 1 330 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X JAMES T SESSA 7074458801 2650 HARRISON AVENUE EUREKA CA 95501 RONALD RUDEBOCK CHAIRPERSON 2.00 X X 0 0 0 DENISE JONES VICE CHAIRPERSON 2.00 X X 0 0 0 JOHN GLADDING TREASURER 2.00 X X 0 0 0 ROBIN BAILIE SECRETARY 1.00 X X 0 0 0 BRENDAN MCKENNY DIRECTOR 1.00 X 0 0 0 KELLY WALSH DIRECTOR 1.00 X 0 0 0 PETER PENNEKAMP DIRECTOR 1.00 X 0 0 0 LOUIS BUCHER DIRECTOR 1.00 X 0 0 0 KLARK SWAN DIRECTOR 1.00 X 0 0 0 JAMES SESSA PRESIDENT/CEO 40.00 X 1036206 0 72752 FRED MOORE EVP/CFO 40.00 X 382864 0 60219 ROBERT MOORE VP/CHIEF CREDIT OFFICER 40.00 X 319468 0 52864 COLLEEN TOSTE VP/MARKETING 40.00 X 189193 0 37373 ANN JADRO-BETTIGA VP/HUMAN RESOURCES 40.00 X 244530 0 63054 KRISTIN KUXHAUSEN VP/OPERATIONS 40.00 X 234570 0 44562 JOHN GRACYALNY VP/MEMBER DIGITAL SERVICES 40.00 X 232993 0 42798 2639824 0 373622 24 0 1 0 Q2 SOFTWARE PO BOX 205970 DALLAS TX 75320 ONLINE BANKING PROVIDER 667340 CUBUS 3049A INDEPENDENCE DR LIVERMORE CA 94551 MEMBER STATEMENT PROVIDER 570745 COX RASMUSSEN & COMPANY 2830 F STREET EUREKA CA 95501 ADVERTISING/MEDIA 485657 CORELATION INC BUSINESS STE 300 2305 HISTORIC RD SAN DIEGO CA 92106 SOFTWARE PROVIDER 460045 CDW DIRECT LLC PO BOX 75723 CHICAGO IL 60675 COMPUTER & SOFTWARE PROVIDER 345140 27 INTEREST ON LOANS 522100 31083939 31083939 SERVICE INCOME 522100 14690430 14459652 230778 45774369 20824731 20824731 68099 0 68099 68099 68099 75307 -75307 -75307 -75307 66591892 45543591 230778 20817523 204704 50500 1552041 14584396 1825499 1964047 1182370 55710 235778 3524440 1100384 2133030 827848 1308805 59430 214621 1817390 4171917 164366 DIVIDENDS PAID TO MEMBE 7762742 PROVISION FOR LOAN LOSS 1545611 STAFF EVENTS/APPRECIATI 151403 DUES AND SUBSCRIPTIONS 138287 126373 46701692 514357218 364719956 24055205 27330912 6489700 6372478 786842854 870366739 606958 1049279 32963816 13695203 19925453 19268613 735445246 725245321 59965690 24851596 2147688324 2039204894 7237207 6853354 1740645 1710020 74534736 72074126 1860847209 1829250837 1944359797 1909888337 X 0 0 0 0 203328527 129316557 203328527 129316557 2147688324 2039204894 19890200 -93902170 0 X X 0 0 0 7587 0 0 7587 7587 1 CALIFORNIA CREDIT UNION LEAGUE PAC PO BOX 51476 ONTARIO CA 91761 942329967 7587 0 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES TO THE CALIFORNIA CREDIT UNION LEAGUE PAC TO SUPPORT CREDIT UNION ISSUES. 0 1 X 1667245 1667245 17203120 4937641 12265479 716533 567209 149324 3048622 2609592 439030 10328296 5580761 4747535 19268613 FHLB STOCK 11027000 C AVAILABLE FOR SALE GOV'T SECURITIES 331016056 F MORTGAGE-RELATED SECURITIES 337292441 F BOLI INSURANCE PLAN 35894579 F CDA INVESTMENT 10015245 F 725245321 ACCRUED INTEREST PAYABLE 92275 WORK IN PROCESS 6590967 SHARES 1822567595 1829250837 PART IV, LINE 2B: THE CREDIT UNION ACTS AS CUSTODIAN ON BEHALF OF ITS MEMBER'S ESCROWED FUNDS WHICH ARE UTILIZED TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MEMBERS. 1 REDWOOD COAST MOUNTAIN BIKE ASSOCIATION PO BOX 386 ARCATA CA 95518 464305959 501(C)(3) 6418 0 COMPLETE TRAIL UPGRADE IN ARCATA WEAVERVILLE FIRE PROTECTION DISTRICT PO BOX 447 WEAVERVILLE CA 96093 646038146 CITY OF WEAVERVILLE 7000 0 CARCINOGENS REDUCTION PROJECT SALMON CREEK VOLUNTEER FIRE DEPARTMENT PO BOX 662 MIRANDA CA 95553 843824767 501(C)(3) 8129 0 FIREFIGHTER PPE/GEAR KIT PROJECT JUNCTION CITY FIRE PROTECTION DISTRICT PO BOX 418 JUNCTION CITY CA 96048 593786960 JUNCTION CITY 9636 0 AED REPLACEMENT PROJECT TELEGRAPH RIDGE FIRE PROTECTION PO BOX 1803 REDWAY CA 95560 272200752 CITY OF REDWAY 9974 0 FIRE STATION UPGRADE COOPERATION HUMBOLDT PO BOX 7248 EUREKA CA 95502 954126989 501(C)(3) 10000 0 MINI GARDENS DREAM QUEST WILLOW CREEK YOUTH PARTNERSHIP 100 COUNTRY BLUB DRIVE WILLOW CREEK CA 95573 680477682 501(C)(3) 10000 0 YOUTH CENTER PROJECT FREE TO FLY FOUNDATION 1501 ROSE AVE FERNDALE CA 95536 845170991 501(C)(3) 10000 0 PROVIDE SUPPORT TO HUNDREDS OF SINGLE MOMS PACIFIC UNION SCHOOL PTO 3001 JANES RD ARCATA CA 95521 461779005 501(C)(3) 10427 0 NEW SCHOOL TRACK NORTHERN CALIFORNIA COMMUNITY BLOOD BANK 2524 HARRISON AVE EUREKA CA 95501 941337639 501(C)(3) 12475 0 BLOOD DONOR SCREENING DEVICES BRICELAND VOLUNTEER FIRE DEPARTMENT PO BOX 1249 REDWAY CA 95560 261532450 501(C)(3) 12500 0 GARAGE DOORS FOR FIRE STATION GRACE GOOD SHEPPARD PO BOX 2446 MCKINLEYVILLE CA 95519 842313054 501(C)(3) 13000 0 EXPANSION OF FARMSTAND + BARN ORLEANS VOLUNTEER FIRE DEPT PO BOX 312 ORLEANS CA 95556 942572021 501(C)(3) 13500 0 PURCHASE GENERATOR TO SUPPORT EMERGENCY OPERATIONS DURING POWER OUTAGES INK PEOPLE 627 3RD ST EUREKA CA 95501 943056179 501(C)(3) 15000 0 MARZ PROJECT STUDIO IMPROVEMENTS EUREKA RESCUE MISSION PO BOX 76 EUREKA CA 95502 946135983 501(C)(3) 20000 0 MATRESSES FOR BUNK BEDS HOSPICE OF HUMBOLDT 3327 TIMBER FALL CT EUREKA CA 95503 942499333 501(C)(3) 15000 0 CARGO VAN FOR HOSPICE SHOP 16 0 LOCAL COLLEGE SCHOLARSHIPS 43 50500 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 X 0 0 0 JAMES SESSA PRESIDENT/CEO 850029 0 171291 0 14886 0 45750 0 27002 0 1108958 0 0 0 FRED MOORE EVP/CFO 327709 0 46155 0 9000 0 30111 0 30108 0 443083 0 0 0 ROBERT MOORE VP/CHIEF CREDIT OFFICER 272849 0 39119 0 7500 0 42840 0 10024 0 372332 0 0 0 ANN JADRO-BETTIGA VP/HUMAN RESOURCES 208726 0 29804 0 6000 0 37806 0 25248 0 307584 0 0 0 KRISTIN KUXHAUSEN VP/OPERATIONS 205141 0 21929 0 7500 0 23839 0 20723 0 279132 0 0 0 JOHN GRACYALNY VP/MEMBER DIGITAL SERVICES 203151 0 23842 0 6000 0 23661 0 19137 0 275791 0 0 0 COLLEEN TOSTE VP/MARKETING 159631 0 23562 0 6000 0 19325 0 18048 0 226566 0 0 0 PART I, LINE 1A COAST CENTRAL CREDIT UNION (THE CREDIT UNION) PROVIDES MEMBERSHIP DUES FOR SENIOR MANAGEMENT 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 SENIOR MANAGEMENT. 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 PRESIDENT/CEO COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 146210 6372478 0 1 1 6372478 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 EACH MANAGEMENT POSITION. THESE RANGES ARE DEVELOPED BY THE HUMAN RESOURCES DEPARTMENT USING COMPARABLE DATA INCLUDING CREDIT UNION COMPARISONS AS WELL AS 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 2023. FORM 990, PART VI, SECTION C, LINE 19 COAST CENTRAL CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNER INTERNAL REVENUE CODE SECTION 6104. 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. FORM 990, PART I, LINES 14 & 17: IN 2022, COAST CENTRAL CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN THE PRIOR YEAR COLUMN FOR LINE 17 (OTHER EXPENSES) CERTAIN ITEMS INCLUDED IN PRIOR YEAR FORMS 990, PART IX, IN LINE 4 (BENEFITS PAID TO OR FOR MEMBERS). CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE CURRENT YEAR AMOUNTS LISTED IN THE CURRENT YEAR COLUMN OF PART I AND PART IX.