2022-09-01T19:13:43-05:00 2021-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2021-01-01 880132649 WESTSTAR CREDIT UNION WEST 7027914777 PO BOX 94138 LAS VEGAS NV 89113 RICK SCHMIDT PRESIDENT/CEO 7027914777 2022-08-25 1 RICK SCHMIDT 999009999 VALENTINO CREUS CPA P01054153 8189549700 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z RICK SCHMIDT PO BOX 94138 LAS VEGAS NV 89113 11267150 0 X WWW.WESTSTAR.ORG X CREDIT UNION 1975 NV A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 5 5 95 9 30430 0 0 0 8894029 8584219 1507465 1004396 42594 786277 10444088 10374892 500 5000 0 0 4794722 4749224 0 0 0 5729333 4588631 10524555 9342855 -80467 1032037 231442426 257379875 207784887 234506956 23657539 22872919 X 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, WESTSTAR 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 WESTSTAR CREDIT UNION PROVIDES VARIOUS LOAN PRODUCTS INCLUDING RESIDENTIAL MORTGAGES, AUTO LOANS, CREDIT CARDS, AND OTHER CONSUMER LOANS. WESTSTAR CREDIT UNION PROVIDES A VARIETY OF CHECKING AND SAVINGS ACCOUNTS TO MEET ITS MEMBERS' NEEDS. WESTSTAR CREDIT UNION PROVIDES MEMBERS FREE ACCESS TO THEIR ACCOUNT INFORMATION VIA THE INTERNET AND MOBILE DEVICES. THE CREDIT UNION ALSO PROVIDES AN EXTENSIVE ATM NETWORK WITH OVER 28,000 SURCHARGE FREE ATMS VIA A CO-OP NETWORK. 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 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 3311 0 1 95 1 1 1 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X RICK SCHMIDT 7027914777 2775 S RAINBOW BLVD LAS VEGAS NV 89146 CRAIG HAWKINS BOARD CHAIRMAN 3.00 X 0 0 0 CURTIS CHING VICE CHAIRMAN 3.00 X 0 0 0 JEFF PERO SECRETARY, AUDIT CMTE MEMBER 3.00 X 0 0 0 KEVIN ORROCK TREASURER 3.00 X 0 0 0 MICHAEL HUETTNER BOARD MEMBER 3.00 X 0 0 0 MERV GUPTON AUDIT CMTE. CHAIRMAN 3.00 X 0 0 0 JOAN SCRIVNER AUDIT CMTE. MEMBER 3.00 X 0 0 0 WILLIAM BARBEE AUDIT CMTE. MEMBER 3.00 X 0 0 0 DOUG MICHAEL AUDIT CMTE. MEMBER 3.00 X 0 0 0 RICK SCHMIDT PRESIDENT & CEO 40.00 X 234845 0 79541 DION KOOP SVP & CFO 40.00 X 162154 0 23752 LORRAINE VALLONE VP HR 40.00 X 106766 0 13748 503765 0 117041 3 0 1 0 CO-OP 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM/DEBIT CARD SERVICING 568325 JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE SYSTEM/ONLINE BANKING 304530 DIEBOLD PO BOX 944399 PITTSBURGH PA 15264 ATM MACHINE SERVICER 249225 TPX COMMUNICATIONS PO BOX 93865 LAS VEGAS NV 89193 TELEPHONE SERVICE 163698 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STATEMENTS/NOTICES 125255 6 INTEREST INCOME 522100 4785897 4785897 FEE INCOME 522100 3537718 3507288 30430 OTHER OPERATING INCOME 522100 260604 260604 8584219 1004040 1004040 892614 892258 356 356 356 PROVISION FOR LOAN & LEASE LOSSES 522100 768500 768500 SALE OF REPO AUTOS 522100 17777 17777 786277 10374892 10344462 30430 0 5000 503765 3397730 113549 428165 306015 69825 57327 42266 388067 1692949 548797 520750 10238 232809 426742 LOAN SERVICING 416362 MISC. OPERATING EXPENSE 144646 OPERATING FEES 37853 9342855 3393662 3133498 51348187 38374738 1634387 801518 510502 463499 11290197 6950527 4596088 4339670 51915701 102178316 115401262 105053089 2642637 3035547 231442426 257379875 1495348 1654402 206289539 232852554 207784887 234506956 X 0 0 0 0 23657539 22872919 23657539 22872919 231442426 257379875 1032037 -1816657 0 X X 0 1 X 1 0 5000 5000 5000 1 CALIFORNIA-NEVADA CREDIT UNION LEAGUE 2855 EAST GUASTI RD SUITE 202 ONTARIO CA 91761 940357265 5000 853629 853629 5616413 2787590 2828823 362840 289407 73433 4457315 3873530 583785 4339670 DEPOSITS IN COMMERCIAL BANKS 2241000 C LOANS & INVESTMENTS IN NATURAL PERSON CREDIT UNIONS 747000 F PAID-IN CAPITAL AT CORP. 339166 C ALL OTHER INVESTMENTS 889700 F LOANS AND LEASES 98615158 F NCUA SHARE INSURANCE 2221065 C 105053089 SHARES AND DEPOSITS 232852554 232852554 X 10374892 0 10374892 0 10374892 9342855 0 9342855 0 9342855 PART X, LINE 2: FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE 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 PERIOD. FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X X 0 1 0 RICK SCHMIDT PRESIDENT & CEO 220457 0 7200 0 7188 0 55729 0 23812 0 314386 0 0 0 DION KOOP SVP & CFO 157158 0 4750 0 246 0 14625 0 9127 0 185906 0 0 0 PART I, LINE 4B THE CREDIT UNION OFFERS A NONQUALIFIED RETIREMENT, 457(F) PLAN. THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN MEMBERS OF MANAGEMENT. UNDER THE TERMS OF THE PLAN, THE PARTICIPANTS ARE ENTITLED TO THE PRINCIPAL, EARNINGS AND APPRECIATION ON THE DEFERRED COMPENSATION PLAN INVESTMENTS, SUBJECT TO VESTING IF PLAN CONDITIONS ARE MET. THE DEFERRED COMPENSATION INVESTMENTS ARE SHOWN AS AN ASSET ON THE CREDIT UNION'S STATEMENTS OF FINANCIAL CONDITION. RICK SCHMIDT AND DION KOOP ARE PARTICIPANTS OF THE PLAN. RICK SCHMIDT OFFICER MORTGAGE X 292000 220981 0 1 1 RICK SCHMIDT OFFICER CREDIT CARD X 1000 442 0 1 1 DION KOOP OFFICER MORTGAGE X 364000 354938 0 1 1 DION KOOP OFFICER AUTO X 15642 8519 0 1 1 LORRAINE VALLONE OFFICER MORTGAGE X 220000 216638 0 1 1 801518 FORM 990, PART VI, SECTION A, LINE 6 WESTSTAR 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. WESTSTAR CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF WESTSTAR CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS; 5 BOARD MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS AND 5 AUDIT COMMITTEE MEMBERS WHO ARE APPOINTED BY THE BOARD. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR 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 DISSOLUTIONS. FORM 990, PART VI, SECTION B, LINE 11B DATA SUBMITTED TO ACCOUNTING FIRM FOR TAX RETURN PREPARATION; FORM 990 REVIEWED BY MANAGEMENT AND THE BOARD FORM 990, PART VI, SECTION B, LINE 12C ALL POLICIES ARE REVIEWED BY MANAGEMENT AND APPROVED BY THE BOARD ANNUALLY AND DISTRIBUTED TO ALL EMPLOYEES ELECTRONICALLY WITH REQUEST FOR READ RECEIPT. THE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEEE HANDBOOK. ALL CONFLICTS OF INTEREST SITUATIONS MUST BE DISCLOSED FORM 990, PART VI, SECTION B, LINE 15 IN NORMAL CIRCUMSTANCES COMPENSATION OF EMPLOYEES (INCLUDING CEO) IS REVIEWED BY VP HR AND COMPARED WITH THIRD PARTY DATA RELATED TO INDUSTRY AND REGIONAL COMP. THE BOARD OF DIRECTORS APPROVES THE COMPENSATION FOR THE CEO FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER ITS SELECTION PROCESS OR OVERSIGHT PROCESS DURING THE TAX YEAR.