2022-11-15T13:58:55-06:00 2021-12-31 420714325 RSM US LLP 4650 E 53RD STREET DAVENPORT IA 52827 990 2021-01-01 951679662 FIRST CITY CREDIT UNION FIRS 2134823477 550 W WOODBURY ROAD ALTADENA CA 91001 LOURDES RUANO EVP/CHIEF FINANCIAL OFFICER 2134823477 2022-11-14 1 LOURDES RUANO XXX-XX-XXXX JENIFER L CHASE P01306883 5638884000 2022-11-14 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JAMES MILLER 550 W WOODBURY ROAD ALTADENA CA 91001 42042494 0 X WWW.FIRSTCITYCU.ORG X 1937 CA TO PROVIDE HIGH QUALITY FINANCIAL SERVICES AND COMPETITIVE PRODUCTS TO OUR MEMBERS BASE. 6 6 126 7 375249 0 0 0 19807050 20801979 7165533 18581855 299550 3412 27272133 39387246 0 0 1984691 1551118 9335490 9234965 0 0 0 12673258 9346890 23993439 20132973 3278694 19254273 838293496 929815680 743346826 828772128 94946670 101043552 X FIRST CITY CREDIT UNION EXISTS TO SERVE ITS MEMBERS. THE CREDIT UNION IS COMMITTED TO OFFER A BROAD RANGE OF QUALITY FINANCIAL SERVICES, DELIVERED AND PRICED TO PROVIDE GOOD VALUE. THE CREDIT UNION SHALL MAINTAIN FINANCIALLY SOUND AND ETHICAL PRACTICES TO MERIT CONFIDENCE AND TRUST. 0 0 RETAIL LENDING: FIRST CITY CREDIT UNION PROVIDES A FULL RANGE OF RETAIL LENDING PRODUCTS TO ITS MEMBERS, INCLUDING NEW AND USED AUTO FINANCING, REAL ESTATE MORTGAGES, UNSECURED LOANS, HOME EQUITY LINES OF CREDIT AND OTHER RETAIL CREDIT. WE ARE AMONG THE LEADING CREDIT UNIONS IN THE COUNTRY IN TERMS OF OUR RELATIVE CONCENTRATION OF SUCCESSFUL AUTO LENDING PRODUCTS, WHICH REPRESENT 70% OF OUR TOTAL LOANS. WE CONTINUE TO DEVELOP OUR LENDING CAPABILITIES AS A RELIABLE SOURCE OF CREDIT IN THE CHALLENGING ECONOMIC CONDITIONS OF THE PAST YEAR. AT 12/31/2021 FCCU HAD 61,292 MEMBERS LOANS OUTSTANDING WITH A TOTAL BALANCE OF $295,860,397 DEPOSITS: FIRST CITY CREDIT UNION PROVIDES A FULL RANGE OF RETAIL DEPOSIT PRODUCTS TO ITS MEMBERS TO PROVIDE A SAFE AND INSURED INVESTMENT VEHICLE TO HELP FINANCIAL MANAGEMENT. THIS INCLUDES BOTH FIXED TERM CERTIFICATES OF DEPOSIT AND NON-MATURING DEPOSITS, SUCH AS MONEY MARKET ACCOUNTS. WE ALSO PROVIDE A FULL RANGE OF CHECKING ACCOUNT PRODUCTS THAT ALLOW OUR MEMBERS TO MANAGE THEIR DAY-TO-DAY FINANCES EFFECTIVELY THROUGH SUCH SERVICES AS DIRECT DEPOSIT OF PAYROLL AND ON-LINE BILL PAYMENT. OUR NETWORK OF 7 BRANCHES PROVIDE EASY ACCESS TO OUR DEPOSIT AS WELL AS OTHERS PRODUCTS. AT 12/31/2021 FCCU HAD 107,066 SHARES WITH A TOTAL DEPOSIT BALANCE OF $825,263,548 CARD SERVICES: FIRST CITY CREDIT UNION PROVIDES CREDIT CARDS AND DEBIT CARDS TO ITS MEMBERS. THESE PROVIDE THEM THE CASH MANAGEMENT TOOLS NECESSARY FOR MUCH OF THE ONGOING PURCHASES AND BILL PAYMENTS ON A DAILY BASIS. THEY ALSO PROVIDE THE ABILITY TO MANAGE FINANCES WITH A VARIETY OF OPTIONS, E.G., DEFERRING PAYMENTS UNTIL CASH IS AVAILABLE TO PAY OR MAKING PURCHASES WITH A DIRECT DEBIT WHEN PHYSICAL CHECKS ARE NOT ACCEPTED BY A MERCHANT. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6188 0 1 126 1 1 1 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 0 0 1 1 0 0 0 CA X TRAM NGUYEN 2134823477 550 W WOODBURY ROAD ALTADENA CA 91001 MICHAEL STEINBERGER CHAIR 1.00 X X 0 0 0 WILLA GLOVER VICE CHAIR 1.00 X X 0 0 0 JOHN BENEDICT SECRETARY 1.00 X X 0 0 0 BARBARA OLIVER TREASURER 1.00 X X 0 0 0 CAROLYN BERNARDEZ DIRECTOR 1.00 X 0 0 0 MARISA LOPEZ DIRECTOR 1.00 X 0 0 0 JAMES MILLER CEO 40.00 X 550592 0 20819 LOURDES RUANO EVP/CFO 40.00 X 287621 0 37085 MICHAEL WILKINS SVP/COO 40.00 X 222592 0 43769 QAMAR NOORY VP/CIO 40.00 X 175169 0 13274 DAVID KIM VP/RE 40.00 X 150827 0 15883 DAVID WONG VP/CMO 40.00 X 162046 0 11395 TRAM NGUYEN VP OF FINANCIAL SERVICES 40.00 X 157275 0 12241 MARY RUBIO VP OF HUMAN RESOURCES 40.00 X 155213 0 12405 1861335 0 166871 13 0 1 0 NCR CORPORATION 864 SPRING STREET NW ATLANTA GA 30308 WEBSITE 784894 BUSINESS DATA INC 321 NO OAK STREET INGLEWOOD CA 90302 MAILING HOUSE 435436 RON POULSON 766 LAKEFILED RD- SUITE D WESTLAKE VILLAGE CA 91361 CONSTRUCTION 349541 FINANCIAL TECHNOLOGY SOLUTIONS 406 E HUNTINGTON DRIVE SUITE 100 MONROVIA CA 91017 TECHNOLOGY SERVICES 315529 ALLIED NATIONWIDE SEC INC 7116 VALJEAN AVE SUITE VAN NUYS CA 91406 SECURITY 254103 12 LOAN INCOME 522100 12454306 12454306 INTERCHANGE INCOME 522100 2279302 2279302 FEES & SERVICE CHARGES INCOME 522100 2254681 1879432 375249 RECOVERY OF LOAN LOSS 522100 2226109 2226109 OTHER INCOME 522100 1587581 1587581 20801979 6410643 6410643 3412 0 3412 3412 3412 14826460 2655248 12171212 12171212 12171212 39387246 20426730 375249 18585267 1551118 1175204 6592134 97753 852893 516981 17766 237201 89241 6238 340983 995918 1728227 1640721 7746 50318 1232343 45891 ATM/FSCC 1161919 LOAN SERVICING 855950 TOTAL VISA EXPENSES 809900 ASSOCIATION DUES 98508 28020 20132973 7197948 6037338 1874787 1634716 282845946 295018040 1209058 1174930 28321501 10039388 18983784 18282113 495996030 585412716 72064 72064 30113879 22183763 838293496 929815680 3873051 3508580 739473775 825263548 743346826 828772128 X 0 0 0 0 94946670 101043552 94946670 101043552 838293496 929815680 X 19254273 -13119353 -38038 X X 0 1 X 1 0 3997000 3997000 11404885 451175 10953711 2706886 1679526 1027360 10212730 7908687 2304042 18282113 AVAILABLE FOR SALE SECURITIES 484775706 F SHORT TERM INVESTMENTS 93902166 C FHLB STOCK 6734844 C 585412716 MEMBER SHARES 825263548 825263548 X 37161137 0 37161137 2226109 2226109 39387246 17906864 -2226109 -2226109 20132973 0 20132973 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14) AND, AS SUCH, IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. 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 YEAR. FOR THE YEAR ENDED DECEMBER 31, 2021, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. 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: RECOVER OF LOAN LOSS RECLASSIFIED FROM EXPENSE 2,226,109. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECOVER OF LOAN LOSS RECLASSIFIED TO REVENUE -2,226,109. X X 0 0 0 JAMES MILLER CEO 389643 0 152550 0 8399 0 5749 0 20090 0 576431 0 0 0 LOURDES RUANO EVP/CFO 283840 0 350 0 3431 0 5419 0 35699 0 328739 0 0 0 MICHAEL WILKINS SVP/COO 220756 0 0 0 1836 0 4331 0 43110 0 270033 0 0 0 QAMAR NOORY VP/CIO 167748 0 1100 0 6321 0 3229 0 12534 0 190932 0 0 0 DAVID WONG VP/CMO 157484 0 2550 0 2012 0 1951 0 11581 0 175578 0 0 0 TRAM NGUYEN VP OF FINANCIAL SERVICES 149537 0 2550 0 5188 0 2796 0 12018 0 172089 0 0 0 DAVID KIM VP/RE 150125 0 0 0 702 0 0 0 21225 0 172052 0 0 0 MARY RUBIO VP OF HUMAN RESOURCES 152016 0 1500 0 1697 0 2960 0 12222 0 170395 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 FIRST CITY 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 FORM 990 IS REVIEWED IN DETAIL BY THE CONTROLLER AND CFO, FOCUSING ON BACK-UP SUPPORTING DETAIL AS NEEDED PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12 KEY EMPLOYEE ACTIVITIES ARE MONITORED BY OUR AUDIT DEPARTMENT ON A REGULAR BASIS. THIS IS DONE THROUGH THE USE OF REPORTS, SYSTEMS, AUDITS, ETC. IN ADDITION, EACH MANAGER MONITORS THE ACTIVITY OF THEIR STAFF MEMBERS TO ENSURE BEST PRACTICES AND ELIMINATE THE ABILITY FOR BEHAVIOR THAT CONFLICTS WITH THE CREDIT UNION'S CODE OF CONDUCT. FORM 990, PART VI, SECTION B, LINE 15 FIRST CITY PARTICIPATES IN SEVERAL INDUSTRY-RELATED COMPENSATION SURVEYS EVERY YEAR. DATA FROM THE SURVEYS IS THEN REVIEWED AND ANALYZED, BASED ON FACTORS SUCH AS REGION, AREA, "COMPARABLE" PAY DATA, AND RANGE ARE DETERMINED FOR EACH POSITION. WITH MIDPOINT REPRESENTING MARKET SALARY FOR AN EXPERIENCED INCUMBENT, WE DETERMINE PLACEMENT WITHIN THE EMPLOYEES COMPARABLE EXPERIENCE AND RESPONSIBILITY OF POSITION. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE AT ALL LOCATIONS FOR VIEWING AND ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENT FOR NET GAINS INCLUDED IN NET INCOME -38,038. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED.