2022-11-15T16:32:13-06:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 941439553 VALLEY FIRST CREDIT UNION VALL 2095498500 1005 W ORANGEBURG AVENUE MODESTO CA 95350 TODD MCCOY CHIEF FINANCIAL OFFICER 2095498500 2022-11-15 1 TODD MCCOY 999009999 JENIFER L CHASE P01306883 5638884000 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z KATHRYN DAVIS 1005 W ORANGEBURG AVENUE MODESTO CA 95350 33569498 0 X WWW.VALLEYFIRSTCU.ORG X 1956 CA PROVIDE SUPERIOR SERVICE TO OUR MEMBERS AND COMMUNITY. 7 7 201 12 746832 0 0 0 32965977 32695866 1361858 801717 0 0 34327835 33497583 32857 177444 1306597 1275415 11326910 10813382 0 0 0 16137213 13077607 28803577 25343848 5524258 8153735 769456143 895204166 698024078 817121086 71432065 78083080 WORKING TOGETHER TO PROVIDE SUPERIOR SERVICE FOR OUR MEMBERS AND COMMUNITY 0 0 AS A STATE CHARTERED CREDIT UNION, VALLEY FIRST PROVIDES LOANS TO MEMBERS AT REDUCED INTEREST RATES AS COMPARED TO COMPETITORS. IN GENERAL, THE CREDIT CRITERIA IS LESS STRINGENT, LOAN RATES ARE LOWER, AND A HIGHER LEVEL OF LOAN COVERAGE IS PROVIDED. AT 12/31/2021 THE CREDIT UNION HAD $531,255,158 IN OUTSTANDING LOAN BALANCES AND 74,150 TOTAL MEMBERS. VALLEY FIRST PROVIDES SAVINGS ACCOUNT PRODUCTS THAT ARE OF GREATER BENEFIT TO MEMBERS AS COMPARED TO COMPETITORS. VALLEY FIRST PAYS HIGHER DIVIDEND RATES FOR COMPARABLE SAVINGS PRODUCTS. AT 12/31/2021 THE CREDIT UNION HAD 93,064 SAVINGS ACCOUNTS WITH A BALANCE OF $629,904,444. VALLEY FIRST PROVIDES CHECKING ACCOUNT PRODUCTS THAT ARE OF GREATER BENEFIT TO MEMBERS, AS COMPARED TO ITS COMPETITORS. SEVERAL TYPES OF CHECKING ACCOUNTS ARE OFFERED, FROM FREE CHECKING TO OUR PURPLE CHECKING PRODUCT, WHICH PROVIDES MEMBERS THE ABILITY TO HAVE NO SERVICE FEES, ATM REIMBURSEMENTS AND OFFERS CASH BACK ON PURCHASES. 0 0 1 0 0 0 0 0 0 1 1 0 0 1 0 1 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 0 0 1 7983 0 1 201 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X TODD MCCOY 2095498500 1005 W ORANGEBURG AVENUE MODESTO CA 95350 CHRIS PETERSON CHAIR 2.00 X X 0 0 0 FRED CRUZ VICE CHAIR 2.00 X X 0 0 0 PATTI GILLIHAN SECRETARY 2.00 X X 0 0 0 PATRICK DODD TREASURER 1.00 X X 0 0 0 GARY HALL DIRECTOR 1.00 X 0 0 0 TOM KANE DIRECTOR 2.00 X 0 0 0 JOHN SCHNEIDER DIRECTOR 2.00 X 0 0 0 KATHRYN DAVIS PRESIDENT & CHIEF EXECUTIVE OFFICER 50.00 X 510899 0 45703 TODD MCCOY CHIEF FINANCIAL OFFICER 50.00 X 52685 0 4050 PAUL EMANUELS VP LENDING 50.00 X 185122 0 17962 CATHERINE RANDO VP INFORMATION SERVICES (END 12/31/21) 40.00 X 222142 0 0 COURTNAY LYNCH VP PEOPLE & CULTURE 50.00 X 177040 0 24570 CHRISTOPHER HEWITT VP OPERATING AND DIGITAL BANKING 50.00 X 183160 0 33566 ANITA MORPHEW VP MARKETING (END 1/15/21) 40.00 X 295930 0 0 MELANIE BORRAS CONTROLLER (END 10-1-21) 40.00 X 120001 0 11502 ROBERTA GAALSWYK DIRECTOR OF LENDING SERVICES 40.00 X 112583 0 4992 1859562 0 142345 8 0 1 0 PRESIDIO NETWORKED SOLUTIONS ONE PENN PLAZA NEW YORK NY 10119 COMPUTER SUPPORT 1469112 HANLEY CONSTRUCTION INC 939 W CHARTER WAY STOCKTON CA 95206 CONSTRUCTION 1193124 JACK HENRY AND ASSOCIATES PO BOX 609 MONETT MO 65708 COMPUTER SUPPORT 635111 FINANCIAL TECH SOLUTIONS INTL 406 HUNTINGTON DRIVE MONRONVIA CA 91016 ATM SERVICING 633905 Q2 SOFTWARE PO BOX 205970 DALLAS TX 75320 COMPUTER SUPPORT 544808 26 INTEREST FROM LOANS 522100 22928572 22928572 FEES & CHARGES 522100 5924269 5924269 OTHER NONINTEREST INCOME 522100 2036801 2036801 MERCHANT CARD & OTHER NETWORK INC 522100 1806224 1059392 746832 32695866 736706 736706 136926 0 71915 136926 -71915 65011 65011 33497583 31949034 746832 801717 177444 1275415 613336 7466096 574830 1471648 687472 1724620 237193 1991503 903429 2194616 1390974 1734882 130864 805171 117024 LOAN/BANKING SERVICES 1066235 PROVISION FOR LOAN LOSS 781096 25343848 50097876 35459697 106116000 148611837 26128588 15240947 490042350 529532574 2174059 3078694 32755865 20661467 10944521 12094398 61939899 122822113 22012850 28363906 769456143 895204166 8457022 9568791 689567056 807552295 698024078 817121086 X 0 0 0 0 71432065 78083080 71432065 78083080 769456143 895204166 8153735 -1502720 0 X 0 1 X 1 0 7050 7050 7050 1 CALIFORNIA CREDIT UNION LEAGUE 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 910357265 7050 0 PART I-A, LINE 1: THE CREDIT UNION MAKES FINANCIAL CONTRIBUTIONS TO CALIFORNIA CREDIT UNION LEAGUE PAC TO SUPPORT CREDIT UNION ISSUES. 1754982 1754982 14211240 8495376 5715864 2840161 616436 2223725 13949482 11549655 2399827 12094398 AVAILABLE FOR SALE SECURITIES 122822113 F 122822113 MEMBER SHARES 807552295 807552295 33497583 0 33497583 0 33497583 25343848 0 25343848 0 25343848 1 UNITED WAY OF STANISLAUS COUNTY INC 422 MCHENRY AVENUE MODESTO CA 95354 941212129 501(C)(3) 9343 0 SUPPORT OUR COMMUNITY THROUGH A PARTNERSHIP WITH UNITED WAY. MODESTO CHILDRENS MUSEUM 928 11TH ST MODESTO CA 95354 842442152 501(C)(3) 100000 0 GENERAL PROGRAM SUPPORT STANISLAUS BUSINESS ALLIANCE INC 1625 I STREET MODESTO CA 95354 205186517 501(C)(3) 13333 0 GENERAL PROGRAM SUPPORT 3 0 X 1 1 X X X X X X 1 1 0 KATHRYN DAVIS PRESIDENT & CHIEF EXECUTIVE OFFICER 416399 0 94500 0 0 0 19500 0 26203 0 556602 0 0 0 ANITA MORPHEW VP MARKETING (END 1/15/21) 15430 0 0 0 280500 0 0 0 0 0 295930 0 0 0 CATHERINE RANDO VP INFORMATION SERVICES (END 12/31/2 198454 0 0 0 23688 0 0 0 0 0 222142 0 0 0 CHRISTOPHER HEWITT VP OPERATING AND DIGITAL BANKING 154917 0 28243 0 0 0 8002 0 25564 0 216726 0 0 0 PAUL EMANUELS VP LENDING 165113 0 20009 0 0 0 9210 0 8753 0 203085 0 0 0 COURTNAY LYNCH VP PEOPLE & CULTURE 148025 0 29015 0 0 0 7670 0 16900 0 201610 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDES SOCIAL CLUB DUES FOR USE BY CEO WITH MEMBERS, STAFF AND PEERS TO DISCUSS BUSINESS ISSUES. FORM 990, PART VI, SECTION A, LINE 6 VALLEY FIRST CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED BY THE CEO AND CFO. A COPY IS ALSO PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS ALL DIRECTORS OR TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS BY SIGNING THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE HUMAN RESOURCES DEPARTMENT AND THE EXECUTIVE COMMITTEE VIEW INDUSTRY DATA AND APPROVE SALARY ADJUSTMENTS BASED ON THAT DATA. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). MONTHLY FINANCIAL STATEMENTS ARE ALSO PUBLISHED IN EACH BRANCH LOBBY AS REQUIRED BY THE NCUA.