2022-11-14T11:45:38-06:00 2021-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2021-01-01 941521987 MERIWEST CREDIT UNION MERI 4089725222 5615 CHESBRO AVENUE SAN JOSE CA 95123 BRIAN HENNESSEY CFO 4089725222 2022-11-07 1 BRIAN HENNESSEY 999009999 VALENTINO CREUS CPA P01054153 8189549700 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JULIE KIRSCH 5615 CHESBRO AVENUE SAN JOSE CA 95123 135150470 0 X WWW.MERIWEST.COM X CREDIT UNION 1961 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 285 15 473699 13848 0 0 68492474 64712513 4835101 4181313 367266 194659 73694841 69088485 20087 13418 0 0 33162373 32250385 0 0 0 31539350 27284993 64721810 59548796 8973031 9539689 1884893406 2043643160 1753325967 1895069833 131567439 148573327 X MERIWEST 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, MERIWEST 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 MERIWEST CREDIT UNION PROVIDED MEMBERS 842 REAL ESTATE BASE LOANS TOTALING $500 MILLION IN 2021. MERIWEST CREDIT UNION PROVIDED MEMBERS 23,652 CONSUMER LOANS TOTALING $382.5 MILLION IN 2021. MERIWEST CREDIT UNION OFFERED LOANS, DEPOSITS AND OTHER SERVICES TO 91,310 MEMBERS IN 2021. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 22725 0 1 285 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 0 0 1 1 1 0 CA X X BRIAN HENNESSEY CFO 4083633200 5615 CHESBRO AVENUE SAN JOSE CA 95123 DRARTHUR L JUE CHAIRPERSON 2.00 X 0 0 0 SCOTT TIMPE VICE CHAIRMAN 2.00 X 0 0 0 HARSHA VYAS TREASURER 2.00 X 0 0 0 LAUREN BURCH SECRETARY 2.00 X 0 0 0 UDEY CHAUDHRY BOARD MEMBER 2.00 X 0 0 0 EDWIN MACH BOARD MEMBER 2.00 X 0 0 0 CHARLIE MUNCH BOARD MEMBER 2.00 X 0 0 0 STAN CHAPMAN BOARD MEMBER 2.00 X 0 0 0 JIM HICKS BOARD MEMBER 2.00 X 0 0 0 STEVE GOVEIA SUPV CMTE CHAIRPERSON 2.00 X 0 0 0 PHILIP FLUEGEMANN SUPV CMTE MEMBER 2.00 X 0 0 0 JASON LAKER SUPV CMTE MEMBER 2.00 X 0 0 0 JULIE ANN KIRSCH PRESIDENT/CEO 40.00 X 745534 0 17548 BRIAN HENNESSEY CHIEF FINANCIAL OFFICER 40.00 X 410954 0 63430 LISA MARIE PESTA SVP, CHIEF OPERATING OFFIC 40.00 X 350197 0 70087 JEFF BARNES SVP, CHIEF LENDING OFFICER 40.00 X 323784 0 10061 JIHONG HUANG VP TREASURY & FINANCE 40.00 X 257771 0 27300 LINA ESTHER HESS VP IT 40.00 X 266473 0 19768 MARY ELLEN SNIDER VP COMPLIANCE AND OPERATIONAL RISK 40.00 X 203723 0 12061 FRED WILLIAMSON RELATIONSHIP MANAGER 40.00 X 229871 0 17548 GENNADY FICHTENHOLZ VP DIGITAL STRATEGY AND ENGAGEMENT 40.00 X 223738 0 27300 MICHAEL DAVID LUONG RELATIONSHIP MANAGER 40.00 X 225490 0 10061 ERNESTO SEGOVIA AVP NETWORK OPERATIONS 40.00 X 217379 0 25749 AMJAD ELIAS VICE PRESIDENT RETAIL DELIVERY 40.00 X 188954 0 21806 3643868 0 322719 62 0 1 0 JACK HENRY & ASSOCIATES INC 663 W HWY 60 MONETT MO 65708 IT SERVICES 802451 TERAFINA INC 2430 CAMINO RAMON SUITE 345 SAN RAMON CA 94538 BANK SOLUTIONS 459350 FTSI 406 HUNTINGTON DRIVE MONROVIA CA 91016 ATM SERVICES 320981 BAY AREA NEWS GROUP 4 NORTH SECOND STREET SUITE 800 SAN JOSE CA 95113 DEPOSIT SERVICES 305158 INFO IMAGE 175 SOUTH HILL DRIVE BRISBANE CA 94005 STATEMENT PROCESSING 294672 36 INTEREST ON LOANS 522100 49649915 49255713 394202 OTHER OPERATING INCOME 522100 10105126 10068370 36756 FEE INCOME 522100 4957472 4914731 42741 64712513 4162607 4162607 66080691 66061207 778 19484 -778 18706 18706 OTHER NON-OPERATING RE 522100 194659 194659 194659 69088485 68614786 473699 0 9268 4150 3643868 20448400 3291065 3263427 1603625 150303 232912 1371208 1305826 8185313 587457 1732262 149173 9148313 1295875 326872 LOAN SERVICING EXPENSE 1350943 MISC OPERATING EXPENSE 705856 PROVISION FOR LOAN AND 515807 OPERATING FEES 225161 1712 59548796 7875488 6045630 75575335 84020976 1347088 3650325 4136057 3927198 28427707 22404908 6912809 6022799 340439886 449753275 1420314699 1458514508 2111000 2111000 26181044 29597449 1884893406 2043643160 30442288 23327103 1722883679 1871742730 1753325967 1895069833 X 0 0 0 0 131567439 148573327 131567439 148573327 1884893406 2043643160 X 9539689 -4118877 11585076 X X 0 1 X 1 0 1843987 1843987 5252695 4483827 768868 11835427 9683979 2151448 9495598 8237102 1258496 6022799 ALL OTHER INVESTMENTS 10494417 F TOTAL LOANS AND LEASES 1422425601 F NCUA INSURANCE DEPOSIT 13872301 C DEPOSITS IN COMMERCIAL BANKS 5205000 C LOANS HELD FOR SALE 6517189 F 1458514508 TOTAL SHARES AND DEPOSITS 1703974613 PROMISSORY NOTES & INTEREST PAYABLE 167768117 1871742730 X 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 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 WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED SEPTEMBER 30, 2021, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 X X X 0 1 0 JULIE ANN KIRSCH PRESIDENT/CEO 590351 0 119677 0 35506 0 0 0 17548 0 763082 0 0 0 BRIAN HENNESSEY CHIEF FINANCIAL OFFICER 349439 0 55500 0 6015 0 50619 0 12811 0 474384 0 0 0 LISA MARIE PESTA SVP, CHIEF OPERATING OFFIC 289252 0 57000 0 3945 0 50619 0 19468 0 420284 0 0 0 JEFF BARNES SVP, CHIEF LENDING OFFICER 267787 0 50000 0 5997 0 0 0 10061 0 333845 0 0 0 JIHONG HUANG VP TREASURY & FINANCE 222441 0 33500 0 1830 0 0 0 27300 0 285071 0 0 0 LINA ESTHER HESS VP IT 226281 0 35000 0 5192 0 0 0 19768 0 286241 0 0 0 MARY ELLEN SNIDER VP COMPLIANCE AND OPERATIONAL RISK 171365 0 25000 0 7358 0 0 0 12061 0 215784 0 0 0 FRED WILLIAMSON RELATIONSHIP MANAGER 89594 0 132391 0 7886 0 0 0 17548 0 247419 0 0 0 GENNADY FICHTENHOLZ VP DIGITAL STRATEGY AND ENGAGEMENT 195629 0 26500 0 1609 0 0 0 27300 0 251038 0 0 0 MICHAEL DAVID LUONG RELATIONSHIP MANAGER 116355 0 102733 0 6402 0 0 0 10061 0 235551 0 0 0 ERNESTO SEGOVIA AVP NETWORK OPERATIONS 199509 0 12252 0 5618 0 0 0 25749 0 243128 0 0 0 AMJAD ELIAS VICE PRESIDENT RETAIL DELIVERY 164032 0 22500 0 2422 0 0 0 21806 0 210760 0 0 0 PART I, LINE 4B THE CREDIT UNION OFFERS A SERP TO ITS SENIOR MANAGEMENT TEAM. THE PLAN PROVIDES FOR THE PAYMENT OF $300,000 TO EACH PERSON AT DATES CERTAIN WITH CLIFF VESTING. THE PLAN IS FUNDED BY A COLI CONTRACT PURCHASED FOR THE BENEFIT OF THE CREDIT UNION. THE PARTICIPANTS IN THE PLAN ARE BRIAN HENNESSEY AND LISA PESTA. LISA PESTA OFFICER FIRST MORTGAGE X 456000 364646 0 1 1 JIHONG HUANG KEY EMPLOYEE FIRST MORTGAGE X 2000000 1972430 0 1 1 AMJAD ELIAS OFFICER FIRST MORTGAGE X 400000 378479 0 1 1 LINA HESS OFFICER FIRST MORTGAGE X 510400 475267 0 1 1 JULIE KIRSCH OFFICER FIRST MORTGAGE X 467100 459503 0 1 1 3650325 FORM 990, PART VI, SECTION A, LINE 6 MERIWEST 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. MERIWEST CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF MERIWEST 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 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 DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS MADE AVAILABLE TO THE ORGANIZATION'S GOVERNING BODY FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15 THE COMPANY HAS PURCHASED AN ANNUAL SUBSCRIPTION TO A COMPENSATION PROGRAM CALLED BALANCED COMP. THIS MANAGES ALL OUR SALARIES. IN ADDITION HR PARTICIPATES IN 3-4 CREDIT UNION SALARY SURVEYS FOR EXECUTIVES. THIS INFORMATION IS ALSO PROVIDED TO THE PERSONNEL PRACTICES COMMITTEE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION FINANCIAL CENTERS MONTHLY. THE CONFLICT OF INTEREST POLICY IS POSTED ON THE CREDIT UNION WEBSITE ANNUALLY IN THE NOMINATION PACKET. THE ANNUAL REPORT IS PUBLISHED ON THE CREDIT UNION WEBSITE AND IT CONTAINS ANNUAL FINANCIAL STATEMENTS AS WELL. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST PROVIDED THERE IS NO RULE OR REGULATION GOVERNING PROHIBITION OF GIVING OUT THE INFORMATION. FORM 990, PART XI, LINE 9: CHANGE IN OCI 11,585,076. FORM 990, PART XI, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION: MERIWEST CREDIT UNION 5615 CHESBRO AVENUE SAN JOSE, CA 95123 TAXPAYER IDENTIFICATION NUMBER: 94-1521987 FOR THE YEAR ENDING DECEMBER 31, 2020. MERIWEST CREDIT UNION IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC.1.263(A)-1(F). MERIWEST MORTGAGE COMPANY LLC 5615 CHESBRO AVE SUITE 120 SAN JOSE CA 951233046 470847322 FINANCIAL PRODUCTS, MORTGAGE CA 8876859 33107788 MERIWEST CREDIT UNION MERIWEST WEALTH ADVISORS LLC 5615 CHESBRO AVE SUITE 120 SAN JOSE CA 951233046 811392554 FINANCIAL PRODUCTS CA 671001 4226047 MERIWEST CREDIT UNION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 MERIWEST MORTGAGE COMPANY LLC P 1496323 ACTUAL AMOUNT PAID MERIWEST MORTGAGE COMPANY LLC Q 168725 ACTUAL AMOUNT PAID MERIWEST WEALTH ADVISORS LLC Q 642634 ACTUAL AMOUNT PAID MERIWEST MORTGAGE COMPANY LLC A 47184 ACTUAL AMOUNT PAID MERIWEST WEALTH ADVISORS LLC A 3000 ACTUAL AMOUNT PAID MERIWEST WEALTH ADVISORS LLC P 0 ACTUAL AMOUNT PAID