2022-10-25T18:55:12-05:00 2021-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2021-01-01 951652797 VALLEY STRONG CU FKA KERN SCHOOLS FEDERAL CREDIT UNION VALL 6618337900 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 LINDSAY REYES EVP/CFO 6618337900 2022-10-24 1 LINDSAY REYES 999009999 VALENTINO CREUS CPA P01054153 8189549700 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z NICHOLAS AMBROSINI 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 136355893 0 X WWW.VALLEYSTRONG.COM X CREDIT UNION 1938 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 13 12 700 18 1653587 176071 0 0 76560645 106240457 19904329 22857820 3295306 2691659 99760280 131789936 856994 1291795 0 0 36368477 42425578 0 0 0 42985313 57277032 80210784 100994405 19549496 30795531 2205905112 3451789893 1997741705 3115676692 208163407 336113201 X SEE SCHEDULE OVALLEY STRONG 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, VALLEY STRONG 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 MEMBERSHIP EDUCATION CONFERENCES: WE HAVE EXTENSIVE WORKSHOP/ONLINE SEMINAR PROGRAMS WITH TOPICS WHICH TYPICALLY ARE HELD TWICE A MONTH. TOPICS COVERED ARE AUTO AND HOME BUYING, RETIREMENT AND WEALTH MANAGEMENT, BUSINESS BANKING, CYBER SECURITY AND MEDICARE ASSISTANCE. ADDITIONALLY, WE HOLD FINANCIAL LITERACY CLASSES OFF SITE AT LOCAL SCHOOLS K-12 AS WELL AS AREA COLLEGES TO HELP INTRODUCE OUR YOUNG COMMUNITY MEMBERS WITH FINANCIAL KNOWLEDGE. ONGOING MARKETING STRATEGIES: WE HAVE FOCUSED OUR MARKETING EFFORTS ON BRANDING IN OUR EXPANSION MARKETS WHICH INCLUDE CHECKING OFFERS, MORTGAGE AND AUTO LOAN OPTIONS, BUSINESS BANKING OPPORTUNITIES, AND RETIREMENT AND WEALTH MANAGEMENT POSSIBILITIES. COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: WE KEEP MEMBERS UPDATED, PROVIDING ALL RULES AND REGULATIONS GOVERNING THE CREDIT UNION AS WELL AS COMPLIANCE ASSISTANCE. 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 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 30026 0 1 700 1 1 1 0 0 0 0 0 1 0 X 13 12 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 0 1 1 1 0 CA X X STACY PHELPS CONTROLLER 6618337024 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 DR LARRY REIDER BOARD CHAIRPERSON 3.00 X 0 0 0 MIKE KILEEN 1ST VICE CHAIRMAN 3.00 X 0 0 0 CARL BA LANGE III TREASURER 3.00 X 0 0 0 JOANNE MILLS SECRETARY 3.00 X 0 0 0 JOE DREW BOARD MEMBER 3.00 X 0 0 0 DR S WILLIAM BRUCE BOARD MEMBER 2.00 X 0 0 0 MARILYN JONES BOARD MEMBER 2.00 X 0 0 0 DR DENNIS SCOTT BOARD MEMBER 2.00 X 0 0 0 DR JAMES FILLBRANDT BOARD MEMBER 2.00 X 0 0 0 DR BRYON SCHAEFER BOARD MEMBER 2.00 X 0 0 0 VALENIA JONES BOARD MEMBER 2.00 X 0 0 0 MARK MORENO BOARD MEMBER 3.00 X 0 0 0 TROY FRINGER SPVE CMTE CHAIR 2.00 X 778 0 0 DAN SHANNON SPVE CMTE MEMBER 2.00 X 0 0 0 DOUG MILLER SPVE CMTE MEMBER 2.00 X 0 0 0 KEN GRAGG SPVE CMTE MEMBER 2.00 X 0 0 0 RAMON HENDRIX SPVE CMTE MEMBER 2.00 X 1116 0 0 TENIELLE TENSLEY SPVE CMTE MEMBER 2.00 X 849 0 0 STEPHEN P RENOCK IV FORMER PRESIDENT/CEO 40.00 X 3246433 0 50038 NICHOLAS AMBROSINI PRESIDENT/CEO 40.00 X 1297309 0 50038 LINDSAY REYES SVP/CFO 40.00 X 269485 0 35209 STEVEN MATEJKA EVP/COO 40.00 X 753849 0 31949 CHARLES ALLEN SMITH SVP/CHIEF LENDING OFFICER 40.00 X 467085 0 27653 MARK MANNS SVP/CHIEF HUMAN RESOURCES OFFICER 40.00 X 418518 0 11600 STEPHEN ROACH SVP/CHIEF DIGITAL OFFICER 40.00 X 415878 0 50038 CORNELIUS R MARSHALL FORMER SVP/CHIEF RETAIL OFFICER 40.00 X 400000 0 40718 SHONNA SHEARSON SVP OF OPERATIONS 40.00 X 375735 0 9057 DEANNA BLAISE SVP OF MEMBER BUSINESS SERVICES 40.00 X 338670 0 45951 ELIZABETH MIRELLA REZNIC CHIEF STRATEGY OFFICER 40.00 X 187650 0 14365 JAMES B HUSSEY VP OF WEALTH MANAGEMENT 40.00 X 371067 0 49587 CHEI WHITMORE VP OF BRANCHES 40.00 X 243357 0 48032 CHRISTOPHER HANSON VP, DATA OFFICE AND ADVANCED ANALYTICS 40.00 X 209195 0 8749 NORA STROH MARKET PRESIDENT 40.00 X 206078 0 13601 KATHLEEN JULIA KELLY MARKET PRESIDENT 40.00 X 201508 0 23587 STEVEN G LEIGA VP OF ACCOUNTING 40.00 X 199954 0 17166 LEE JACOBS VP INFORMATION TECH 40.00 X 194730 0 20657 AMIE J HALE VP OF EPMO AND M&A 40.00 X 189733 0 4636 KEVIN MCCLOSKEY DIRECTOR OF IT DEVELOPMENT 40.00 X 187547 0 46471 BRIAN GRANT REYNOLDS VICE PRESIDENT OF REAL ESTATE LENDING 40.00 X 186050 0 1816 BRIDGET LYNN JOHNSON HEAD OF RETAIL SERVICES 40.00 X 180902 0 29648 RICHARD NEAL SAZAMA HEAD OF FACILITIES AND CAPITAL PROJECTS 40.00 X 175310 0 7685 JAMES LAWITZ VP, CULTURE AND COMMUNICATIONS 40.00 X 174090 0 12818 MICHAEL H SHOEMAKER FORMER VP IT 40.00 X 159205 0 0 STACY PHELPS DIRECTOR OF ACCOUNTING/CONTROLLER 40.00 X 157673 0 7078 CHERI PLETT DIRECTOR OF ORGANIZATIONAL DEVELOPMENT 40.00 X 157400 0 19349 ROBYN R POTTER DIRECTOR OF HOME LOAN CENTER 40.00 X 154518 0 20286 MICHAEL S WARRELL FORMER MARKET PRESIDENT 40.00 X 152619 0 2101 HERBERT SIEGERS DIRECTOR OF ADMINISTRATIVE SERVICES 40.00 X 152255 0 19053 MARIA TRANCOSO SENIOR BUSINESS BANKING OFFICER 40.00 X 195853 0 8466 RICHARD RAMOS FINANCIAL SERVICES PROFESSIONAL 40.00 X 186375 0 8226 RETHA CAMERON FORMER COMPLIANCE OFFICER 40.00 X 176148 0 7873 CLIFFORD JOSEPH SENIOR AUTOMATION SPECIALIST 40.00 X 167604 0 7382 VANESSA L HUDSON SENIOR BUSINESS LENDING MANAGER 40.00 X 165788 0 44959 12718314 0 795842 66 1 1 0 MCDERMOTT & BULL EXECUTIVE SEARCH 2 VENTURE STE 100 IRVINE CA 92618 EXECUTIVE SEARCH & RECRUITING SERVICES 805451 DELL MARKETING LP PO BOX 910916 PASADENA CA 911100916 COMPUTER EQUIPMENT 544366 ALM FIRST FINANCIAL ADVISORS 3800 MAPLE AVE STE 600 DALLAS TX 75219 FINANCIAL ADVISORY SERVICES 473511 CONNECT FINANCIAL SOFTWARE SOLUTIONS PO BOX 923 SANDY UT 84091 DIGITAL PLATFORM SOFTWARE 465507 CARROLL & ASSOCIATES LLP 205 DE ANZA BLVD 13 SAN MATEO CA 94402 CONSULTING/ADVISORY SERVICES 464242 5 INTEREST ON LOANS 522100 71605939 71605939 OTHER OPERATING INCOME 522100 22441647 21758809 682838 FEE INCOME 522100 12192871 11222122 970749 106240457 8246933 8246933 18486039 690805 3803875 762082 14682164 -71277 14610887 14610887 UNREALIZED GAIN DUE TO 522100 2691659 2691659 2691659 131789936 130136349 1653587 0 X 1291795 12718314 22045841 1207246 4208408 2245769 652848 50271 13156189 2522116 11340218 4840399 3936137 982671 6932755 3827645 359063 PROVISION FOR LOAN AND 4462671 LOAN SERVICING EXPENSE 2810375 MISC OPERATING EXPENSES 1112682 OPERATING FEES 270549 20443 100994405 53105411 68977722 259796848 333271193 19342520 21998665 2312520 3100887 132766944 63915307 48381111 68851637 397484615 615596029 870611 1380857559 2254448829 44624528 84674320 2205905112 3451789893 40454794 62509246 1957286911 3053167446 1997741705 3115676692 X 0 0 0 0 208163407 336113201 208163407 336113201 2205905112 3451789893 X 30795531 -9912955 107067218 X X 0 1 X 1 0 26000 26000 26000 1 NATIONAL ASSOCIATION OF FEDERALLY-INSURED CREDIT UNIONS 3138 10TH STREET NORTH ARLINGTON VA 222012149 952642719 10000 CCUL - PAC 2855 E GUASTI ROAD ONTARIO CA 91761 940357265 15000 ROB BONTA FOR CALIFORNIA ATTORNEY GENERAL 2022 465 CALIFORNIA STREET STE 425 SAN FRANCISCO CA 94104 1000 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES TO INDIVIDUALS RUNNING FOR OFFICES WHO SUPPORT CREDIT UNION ISSUES. ROB BONTA 465 CALIFONIA STREET, SUITE 425 SAN FRANCISCO, CA 94104 ID#1437201 11186153 11186153 60146707 19305508 40841199 12773653 2715021 10058632 48660431 41894778 6765653 68851637 PAID-IN CAPITAL AT CORP 1357365 C ALL OTHER INVESTMENTS 11983200 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 28353773 C NET LOANS AND LEASES 2199419736 F DEPOSITS IN COMMERCIAL BANKS 9586147 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CU'S 3748608 C 2254448829 TOTAL SHARE AND DEPOSITS 3052973372 ACCRUED DIVIDENDS & INTEREST PAYABLE ON SHARES & DEPOSITS 194074 3053167446 X 131898032 0 131898032 -108096 -108096 131789936 101102501 0 101102501 -108096 -108096 100994405 PART X, LINE 2: 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 SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, MANAGEMENT HAS DETERMINED THAT THE CREDIT UNION HAS NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. STATE TAXES, IF APPLICABLE, ARE PAID ON INCOME EARNED BY THE CREDIT UNION IN CALIFORNIA. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF FIXED ASSETS -108,096. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF FIXED ASSETS -108,096. 1 BAKERSFIELD COLLEGE FOUNDATION INC 1801 PANORAMA DR BAKERSFIELD CA 93305 510151490 501(C)(3) 593500 0 FMV EXPAND OPPORTUNITIES FOR STUDENTS BY FUNDING SCHOLARSHIPS & ENHANCING COLLEGE FACILITIES. CALIFORNIA PUMPKIN GROWERS CLUB 1661 E MONTE VISTA AVE VACAVILLE CA 95688 863244883 501(C)(3) 10000 0 FMV TO SUPPORT & SPONSOR THE GIANT PUMPKIN WEIGH-OFF. CALIFORNIA STATE UNIVERSITY BAKERSFIELD FOUNDATION 9001 STOCKDALE HIGHWAY BAKERSFIELD CA 93311 952643086 501(C)(3) 547605 0 FMV ASSISTING CSU BAKERSFIELD IN PROVIDING SCHOLARSHIPS & IMPROVING CAMPUS FACILITIES. CITY OF FAIRFIELD 1000 WEBSTER ST FAIRFIELD CA 945334883 946000331 7500 0 FMV TO SUPPORT & SPONSOR THE TOMATO & VINE FESTIVAL. GREATER BAKERSFIELD CHAMBER OF COMMERCE PO BOX 1947 BAKERSFIELD CA 93303 950521125 501(C)(6) 35000 0 FMV PROVIDE EDUCATION & NETWORKING TO THE BUSINESS COMMUNITY OF BAKERSFIELD/KERN COUNTY. HOFFMAN HOSPICE OF THE VALLEY INC 4325 BUENA VISTA RD BLDG A BAKERSFIELD CA 93311 770386207 501(C)(3) 15000 0 FMV TO ASSIST IN PROVIDING COMPASSIONATE END-OF-LIFE CARE. VACAVILLE CHAMBER OF COMMERCE 411 DAVIS ST STE 101 VACAVILLE CA 95688 941111162 501(C)(3) 10610 0 FMV PROVIDE LEADERSHIP & EDUCATION TO IMPROVE THE SUCCESS OF THE VACAVILLE BUSINESS COMMUNITY. 5 2 X X 1 1 X X X X 1 1 0 STEPHEN P RENOCK IV FORMER PRESIDENT/CEO 968324 0 250000 0 2028109 0 11600 0 38438 0 3296471 0 0 0 NICHOLAS AMBROSINI PRESIDENT/CEO 648119 0 625190 0 24000 0 11600 0 38438 0 1347347 0 0 0 LINDSAY REYES SVP/CFO 225275 0 35210 0 9000 0 12112 0 23097 0 304694 0 0 0 STEVEN MATEJKA EVP/COO 560619 0 175230 0 18000 0 11600 0 20349 0 785798 0 0 0 CHARLES ALLEN SMITH SVP/CHIEF LENDING OFFICER 399025 0 50060 0 18000 0 14400 0 13253 0 494738 0 0 0 MARK MANNS SVP/CHIEF HUMAN RESOURCES OFFICER 290288 0 110230 0 18000 0 11600 0 0 0 430118 0 0 0 STEPHEN ROACH SVP/CHIEF DIGITAL OFFICER 322478 0 75400 0 18000 0 11600 0 38438 0 465916 0 0 0 CORNELIUS R MARSHALL FORMER SVP/CHIEF RETAIL OFFICER 0 0 0 0 400000 0 40718 0 0 0 440718 0 0 0 SHONNA SHEARSON SVP OF OPERATIONS 277475 0 80260 0 18000 0 9057 0 0 0 384792 0 0 0 DEANNA BLAISE SVP OF MEMBER BUSINESS SERVICES 276600 0 50070 0 12000 0 7513 0 38438 0 384621 0 0 0 ELIZABETH MIRELLA REZNIC CHIEF STRATEGY OFFICER 87600 0 100050 0 0 0 6671 0 7694 0 202015 0 0 0 JAMES B HUSSEY VP OF WEALTH MANAGEMENT 354580 0 16487 0 0 0 11149 0 38438 0 420654 0 0 0 CHEI WHITMORE VP OF BRANCHES 213547 0 17810 0 12000 0 9594 0 38438 0 291389 0 0 0 CHRISTOPHER HANSON VP, DATA OFFICE AND ADVANCED ANALYTI 194095 0 15100 0 0 0 8749 0 0 0 217944 0 0 0 NORA STROH MARKET PRESIDENT 55718 0 150360 0 0 0 5801 0 7800 0 219679 0 0 0 KATHLEEN JULIA KELLY MARKET PRESIDENT 161458 0 30050 0 10000 0 6185 0 17402 0 225095 0 0 0 STEVEN G LEIGA VP OF ACCOUNTING 49694 0 150260 0 0 0 7303 0 9863 0 217120 0 0 0 LEE JACOBS VP INFORMATION TECH 179530 0 15200 0 0 0 7181 0 13476 0 215387 0 0 0 AMIE J HALE VP OF EPMO AND M&A 180700 0 9033 0 0 0 4636 0 0 0 194369 0 0 0 KEVIN MCCLOSKEY DIRECTOR OF IT DEVELOPMENT 178213 0 9334 0 0 0 8033 0 38438 0 234018 0 0 0 BRIAN GRANT REYNOLDS VICE PRESIDENT OF REAL ESTATE LENDIN 46000 0 140050 0 0 0 0 0 1816 0 187866 0 0 0 BRIDGET LYNN JOHNSON HEAD OF RETAIL SERVICES 145742 0 27660 0 7500 0 7117 0 22531 0 210550 0 0 0 RICHARD NEAL SAZAMA HEAD OF FACILITIES AND CAPITAL PROJE 152525 0 4785 0 18000 0 7685 0 0 0 182995 0 0 0 JAMES LAWITZ VP, CULTURE AND COMMUNICATIONS 145290 0 28800 0 0 0 6985 0 5833 0 186908 0 0 0 MICHAEL H SHOEMAKER FORMER VP IT 45571 0 0 0 113634 0 0 0 0 0 159205 0 0 0 STACY PHELPS DIRECTOR OF ACCOUNTING/CONTROLLER 139647 0 18026 0 0 0 7078 0 0 0 164751 0 0 0 CHERI PLETT DIRECTOR OF ORGANIZATIONAL DEVELOPME 152400 0 5000 0 0 0 6096 0 13253 0 176749 0 0 0 ROBYN R POTTER DIRECTOR OF HOME LOAN CENTER 138838 0 15680 0 0 0 6675 0 13611 0 174804 0 0 0 MICHAEL S WARRELL FORMER MARKET PRESIDENT 39639 0 0 0 112980 0 864 0 1237 0 154720 0 0 0 HERBERT SIEGERS DIRECTOR OF ADMINISTRATIVE SERVICES 145000 0 7255 0 0 0 5800 0 13253 0 171308 0 0 0 MARIA TRANCOSO SENIOR BUSINESS BANKING OFFICER 150394 0 36459 0 9000 0 8466 0 0 0 204319 0 0 0 RICHARD RAMOS FINANCIAL SERVICES PROFESSIONAL 182930 0 3445 0 0 0 8226 0 0 0 194601 0 0 0 RETHA CAMERON FORMER COMPLIANCE OFFICER 129586 0 7156 0 39406 0 3247 0 4626 0 184021 0 0 0 CLIFFORD JOSEPH SENIOR AUTOMATION SPECIALIST 163397 0 4207 0 0 0 7382 0 0 0 174986 0 0 0 VANESSA L HUDSON SENIOR BUSINESS LENDING MANAGER 144324 0 21464 0 0 0 6519 0 38440 0 210747 0 0 0 PART I, LINES 4A-B THE CREDIT UNION PROVIDES CERTAIN INDIVIDUALS WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS HAVE BEEN ENTERED INTO WITH THE PARTICIPANTS OF THE EXECUTIVES COVERED UNDER THE PLAN. AS PART OF THE SPLIT DOLLAR LOAN AGREEMENTS, THE EXECUTIVES HAVE ASSIGNED THE POLICIES TO THE CREDIT UNION AS COLLATERAL. THIS ASSIGNMENT SECURES REPAYMENT OF ANY ADVANCES AND ACCRUED INTEREST FOR THE POLICY PREMIUMS AND ANY OTHER ADVANCES UNDER ANY AGREEMENT. THE LOANS HAVE A FIXED INTEREST RATE, WITH INTEREST ACCRUED MONTHLY AND CAPITALIZED AS PART OF THE TOTAL LOAN BALANCE ANNUALLY. TOTAL SPLIT DOLLAR LOANS AND ACCRUED INTEREST APPROXIMATED $21,800,000 AND $19,108,000 AS OF DECEMBER 31, 2021 AND 2020,RESPECTIVELY. THE CREDIT UNION MAINTAINS NON-QUALIFIED PENSION PLANS FOR A SELECT GROUP OF MANAGEMENT. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. UNDER THIS PLAN, PARTICIPANTS DEFER A PORTION OF THEIR COMPENSATION. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE PLAN APPROXIMATED $37,458,000 AND $33,824,000 AS OF DECEMBER 31, 2021 AND 2020, RESPECTIVELY. DURING 2021 THE FOLLOWING RECEIVED PAYOUTS FROM NON-QUALIFIED PENSION PLAN: STEPHEN P RENOCK IV - $1,997,326 CORNELIUS R MARSHALL - $400,000 NICHOLAS AMBROSINI OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 9900000 10029576 0 1 1 NICHOLAS AMBROSINI OFFICER AUTO X 14070 6770 0 1 1 STEPHEN ROACH OFFICER AUTO X 36243 0 0 1 1 STEPHEN ROACH OFFICER PERSONAL LOAN X 3100 300 0 1 1 STEVEN MATEJKA OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 9150000 9269760 0 1 1 AMIE HALE KEY EMPLOYEE PERSONAL LOAN X 3500 3499 0 1 1 CHRISTOPHER HANSON KEY EMPLOYEE AUTO X 32832 0 0 1 1 JAMES HUSSEY KEY EMPLOYEE AUTO X 77530 48895 0 1 1 JAMES HUSSEY KEY EMPLOYEE AUTO X 12809 12552 0 1 1 LEE JACOBS KEY EMPLOYEE AUTO X 36732 0 0 1 1 CARL LANGE III DIRECTOR AUTO X 62000 50559 0 1 1 CARL LANGE III DIRECTOR AUTO X 25929 0 0 1 1 DENNIS SCOTT DIRECTOR AUTO X 54381 21671 0 1 1 JAMES FILLBRANDT DIRECTOR PERSONAL LOAN X 4861 0 0 1 1 JAMES FILLBRANDT DIRECTOR PERSONAL LOAN X 25000 18039 0 1 1 TROY FRINGER DIRECTOR AUTO X 26895 0 0 1 1 TROY FRINGER DIRECTOR AUTO X 25030 6016 0 1 1 JOE DREW DIRECTOR AUTO X 30638 30285 0 1 1 MICHAEL WARRELL KEY EMPLOYEE FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 4759012 2500743 0 1 1 21998665 FORM 990, PART VI, SECTION A, LINE 4 THE NUMBER OF VOTING BOARD MEMBERS OF THE GOVERNING BODY INCREASED FROM 11 TO 13. THE NUMBER OF INDENPENDENT VOTING BOARD MEMBERS OF THE GOVERNING BODY INCREASED FROM 11 TO 12. FORM 990, PART VI, SECTION A, LINE 6 VALLEY STRONG 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. VALLEY STRONG CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF VALLEY STRONG 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 ITS 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 990 IS PRESENTED TO THE BOARD DURING ONE OF ITS BOARD MEETINGS. THE APPROVAL FOR FILING IS THEN DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES, BOARD AND VOLUNTEERS ARE REQUIRED TO REPORT KNOWN CONFLICTS OF INTEREST. EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY AT THE TIME OF HIRE AND ANNUALLY EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONDUCTS AN EXECUTIVE COMMITTEE SESSION TO DETERMINE SALARY OF THE PRESIDENT/CEO. VALLEY STRONG CREDIT UNION ALSO HAS A COMPENSATION SYSTEM THAT COMPARES SALARIES BASED ON OTHER CREDIT UNIONS, THEIR ASSET SIZE AND GEOGRAPHIC LOCATION. VALLEY STRONG CREDIT UNION USES RANGES FOR ALL OF THEIR POSITIONS. EACH POSITION IS THEN CAREFULLY REVIEWED. FORM 990 PART VI SECTION B LINE 15B: THE CEO AND ESC EVALUATES EACH SENIOR EXECUTIVE POSITION IN ACCORDANCE WITH VALLEY STRONG CREDIT UNION'S COMPENSATION GUIDELINES, THE COMPENSATION SYSTEM AND BASED ON THEIR OVERALL PERFORMANCE AS ASSESSED DURING THE FORMAL EVALUATION PROCESS WHICH IS CONDUCTED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 VALLEY STRONG CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 13,156,189. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 89,747,905. MISCELLANEOUS EQUITY 17,319,313. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SOLANO FIRST FEDERAL CREDIT UNION MERGED INTO VALLEY STRONG CREDIT UNION EFFECTIVE JULY 1, 2021. FINANCIAL CENTER CREDIT UNION MERGED INTO VALLEY STRONG CREDIT UNION EFFECTIVE OCTOBER 1, 2021. VALLEY STRONG SERVICES LLC 11500 BOLTHOUSE DRIVE BAKERSFIELD CA 93311 061675166 INSURANCE CA 765373 20332074 VALLEY STRONG CREDIT UNION KERN VENTURE GROUP II LLC 5001 CALIFORNIA AVE STE 214 BAKERSFIELD CA 93309 872175951 INVESTMENT STRATEGY DE N/A UNRELATED -5700 94300 0 0 0.20000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0