2022-11-04T16:33:28-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2021-01-01 951585409 SOUTHLAND CREDIT UNION SOUT 5628626831 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 THOMAS LENT PRESIDENT/CEO 5628626831 2022-11-01 1 THOMAS LENT 999009999 MELISSA HANGSLEBEN P02087031 6022662248 2022-11-01 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z THOMAS LENT 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 82769370 0 X WWW.SOUTHLANDCU.ORG X 1936 CA WE ARE DEDICATED TO PROVIDING OUR MEMBERS WITH EXCEPTIONAL, COMPREHENSIVE, AND INNOVATIVE FINANCIAL SOLUTIONS, DELIVERED WITH UNIQUELY PERSONAL SOUTHLAND SERVICE. 9 9 191 12 98094 0 0 0 29104001 29137463 4515111 4688004 46156 47186 33665268 33872653 0 0 3864531 2508988 15046233 16356084 0 0 0 14102199 13380114 33012963 32245186 652305 1627467 995946122 1048013508 898532443 955635980 97413679 92377528 WE ARE DEDICATED TO PROVIDING OUR MEMBERS WITH EXCEPTIONAL, COMPREHENSIVE, AND INNOVATIVE FINANCIAL SOLUTIONS, DELIVERED WITH UNIQUELY PERSONAL SOUTHLAND SERVICE. 0 0 PROVIDED LOW COST LOANS AND HIGH-YIELD DEPOSIT OPTIONS FOR OUR MEMBERSHIP. EDUCATED OUR MEMBERSHIP TO ENSURE FINANCIAL LITERACY AND SECURITY. DURING 2021, 17,869 LOANS WERE GRANTED AND SERVICES WERE PROVIDED TO 60,994 MEMBERS. 0 0 1 0 0 0 0 0 0 1 0 0 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 1 1 0 0 1 9276 0 191 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 CA X CHRISTOPHER BURNS 5629368757 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 JOSE MANZANO CHAIRMAN 1.00 X X 0 0 0 BRAD SILCOX VICE CHAIRMAN 1.00 X X 0 0 0 DOLORES ARRIOLA SECRETARY/TREASURER 1.00 X X 0 0 0 ANGELA AVERY DIRECTOR 1.00 X 0 0 0 BECKY COOL DIRECTOR 1.00 X 0 0 0 WALTER FINNIGAN DIRECTOR 1.00 X 0 0 0 JUSTIN LAIRD DIRECTOR 1.00 X 0 0 0 ANNIE PEREZ DIRECTOR 1.00 X 0 0 0 TOM WILLINGHAM DIRECTOR 1.00 X 0 0 0 THOMAS LENT PRESIDENT/CEO 40.00 X 400047 0 41950 RENE LEJAY EVP/COO 40.00 X 279088 0 29270 CHRISTOPHER BURNS SVP/CFO 40.00 X 256992 0 26720 MATTHEW HERRICK SVP SALES & MARKETING 40.00 X 228790 0 29827 TINA FUGELSANG VP HARBOR OPERATIONS 40.00 X 1328246 0 26381 PAM GHEZZI MANAGER 40.00 X 751304 0 40991 PAUL WALKER MORTGAGE LOAN COUNSELOR 40.00 X 373141 0 29568 JONATHAN ZERMENO MORTGAGE LOAN COUNSELOR 40.00 X 203430 0 33712 3821038 0 258419 33 0 1 0 JACK HENRY & ASSOCIATES 663 W HIGHWAY 60 PO BOX 807 MONETT MO 657088215 CORE INFORMATION PROCESSING SOLUTIONS 841943 THE DRALA PROJECT INC 2629 MANHATTAN AVE HERMOSA BEACH CA 90254 TECHNOLOGY SOLUTIONS AND CYBERSECURITY 828590 ORANGE LABEL ADVERTISING 660 BAKER ST B-250 COSTA MESA CA 92626 MARKETING 693863 DIEBOLD 5995 MAYFAIR ROAD NORTH CANTON OH 44720 ATM SERVICING 579098 FISERV PO BOX 208457 DALLAS TX 753208457 MOBILE BANKING AND E-BILL PAY SERVICES 513326 16 INTEREST INCOME ON LOANS 522100 22114485 22114485 FEES AND CHARGES 522100 4099615 4051156 48459 INTERCHANGE INCOME 522100 1782408 1782408 OTHER OPERATING INCOME 522100 1140955 1091320 49635 29137463 3939978 3939978 47186 0 47186 47186 47186 49644327 416 48896717 0 747610 416 748026 748026 33872653 29039369 98094 4735190 2508988 1034067 12019816 756496 1468804 1076901 135261 177254 6000 732361 2104448 1146202 1520002 1456145 212940 980784 1635035 188814 LOAN SERVICING 1499017 ATM EXPENSES 1288872 DUES & SUBSCRIPTIONS 214628 MISCELLANEOUS EXPENSES 82351 32245186 9743458 7257053 108042646 81229682 865176 1309552 12042018 12381594 521030415 581460136 2086025 1693148 34698492 16913212 17561107 17785280 286743017 308702315 4242702 5332731 944984 822498 32644574 30039519 995946122 1048013508 6333432 5649070 71700000 56700000 820499011 893286910 898532443 955635980 X 0 0 0 0 97413679 92377528 97413679 92377528 995946122 1048013508 X 1627467 -7452124 788506 X X 0 1 X 1 0 6000 0 0 6000 6000 1 CALIFORNIA CREDIT UNION LEAGUE 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 917611249 940357265 6000 PART I-A, LINE 1: CONTRIBUTION TO POLITICAL ORGANIZATION 6148856 6148856 13772779 5547058 8225721 1368403 1259804 108599 13100402 10106350 2994052 308052 308052 17785280 MEMBERS' SHARES AND SAVINGS ACCOUNTS 893286910 893286910 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL AND STATE INCOME TAXES, UNDER INTERNAL REVENUE CODE 501(C)(14). THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A MINIMAL NET OPERATING LOSS CARRYFORWARD. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL AFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X X 1 1 X X X X X 0 1 0 TINA FUGELSANG VP HARBOR OPERATIONS 23531 0 0 0 1304715 0 26258 0 123 0 1354627 0 1150000 0 PAM GHEZZI MANAGER 35103 0 750 0 715451 0 39123 0 1868 0 792295 0 640000 0 THOMAS LENT PRESIDENT/CEO 369133 0 21914 0 9000 0 20300 0 21650 0 441997 0 0 0 PAUL WALKER MORTGAGE LOAN COUNSELOR 36000 0 337141 0 0 0 20300 0 9268 0 402709 0 0 0 RENE LEJAY EVP/COO 268583 0 10505 0 0 0 19697 0 9573 0 308358 0 0 0 CHRISTOPHER BURNS SVP/CFO 247339 0 9653 0 0 0 18119 0 8601 0 283712 0 0 0 MATTHEW HERRICK SVP SALES & MARKETING 212364 0 8518 0 7908 0 16539 0 13288 0 258617 0 0 0 JONATHAN ZERMENO MORTGAGE LOAN COUNSELOR 35585 0 167845 0 0 0 15046 0 18666 0 237142 0 0 0 PART I, LINE 1A TRAVEL EXPENSES FOR BOARD AND SUPERVISORY MEMBERS ARE PAID BY THE CREDIT UNION AND INCLUDED IN TAXABLE COMPENSATION. KEY EMPLOYEES ARE ELIGIBLE FOR HEALTH CLUB DUES PROVIDED BY THE CREDIT UNION. PART I, LINE 3 THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN, SECTION 457(F), FOR CERTAIN MEMBERS OF MANAGEMENT. THE FOLLOWING INDIVIDUALS RECEIVED A DISTRIBUTION FROM THE 457(F) PLAN DURING 2021: TINA FUGELSANG - $1,150,000 PAM GHEZZI - $640,000 THE FOLLOWING INDIVIDUALS RECEIVED A CONTRIBUTION TO THE 457(F) PLAN DURING 2021: TINA FUGELSANG - $5,958 PAM GHEZZI - $15,823 ADDITIONALLY, THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THOMAS LENT, CHRISTOPHER BURNS, RENE LEJAY, AND MATTHEW HERRICK, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR". AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX-FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH, THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. THOMAS LENT PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 6450000 6733608 0 1 1 RENE LEJAY EVP/COO SPLIT DOLLAR LIFE INSURANCE X 1500000 1580260 0 1 1 CHRISTOPHER BURNS SVP/CFO SPLIT DOLLAR LIFE INSURANCE X 2100000 2135832 0 1 1 MATTHEW HERRICK SVP SALES & MARKETING SPLIT DOLLAR LIFE INSURANCE X 1900000 1931894 0 1 1 12381594 SCHEDULE L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR". ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTUION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS. PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS GENERALLY CONSISTS OF THOSE WHO LIVE, WORK, WORSHIP, OR GO TO SCHOOL IN ORANGE COUNTY AND LOS ANGELES COUNTY, CALIFORNIA, AND OTHER SELECT EMPLOYEE GROUPS WHO HAVE PETITIONED FOR MEMBERSHIP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH BOARD MEMBER SERVES A 3 YEAR TERM AND IS NOMINATED AND ELECTED BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION A, LINE 8B THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE SUPERVISORY COMMITTEE FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT IS RESPONSIBLE FOR ENFORCING AND COMPLYING WITH THE CONFLICT OF INTEREST POLICY. ALL EMPLOYEES ARE REQUIRED TO AFFIRM THEIR COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH REVIEW AND SIGN OFF ON THE EMPLOYEE HANDBOOK WHICH IS RETAINED IN PERSONNEL FILES. PERIODIC REVIEWS ARE COMPLETED BY INTERNAL AUDITORS WHO REPORT THEIR FINDINGS TO THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD FORMS AN EXECUTIVE COMPENSATION COMMITTEE WHICH SOLICITS A REVIEW FROM INDEPENDENT SOURCES AS WELL AS COMPARABILITY DATA. THIS COMMITTEE PROVIDES A RECOMMENDATION TO THE FULL BOARD TO APPROVE THE CEO'S SALARY. FINAL APPROVAL IS GIVEN BY THE BOARD AND APPROVED AT THE BOARD MEETING AND DOCUMENTED IN THE BOARD MINUTES. OTHER MANAGEMENT SALARIES ARE DETERMINED USING COMPARATIVES AND 3RD PARTY RECOMMENDATIONS. FINAL APPROVAL IS GIVEN BY THE CEO. THE BOARD IS NOTIFIED BY THE CEO AT THE BOARD MEETING. THE FINAL COMPENSATION DECISIONS ARE DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CREDIT FOR LOAN LOSSES 593,000. CHANGE IN VALUE OF LIFE INSURANCE POLICIES 195,506. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR. SCFCU SERVICES INC 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 954489756 INSURANCE CA SOUTHLAND CREDIT UNION C 40 2198 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0