2021-11-09T18:45:21-06:00 2020-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2020-01-01 941521987 MERIWEST CREDIT UNION MERI 4089725222 5615 CHESBRO AVENUE SAN JOSE CA 95123 BRIAN HENNESSEY CFO 4089725222 2021-11-08 1 BRIAN HENNESSEY 999009999 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JULIE KIRSCH 5615 CHESBRO AVENUE SAN JOSE CA 95123 88481922 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 9 268 14 67980 0 0 0 67154856 68492474 6218876 4835101 160077 367266 73533809 73694841 17800 20087 0 0 29060000 33162373 0 0 0 30331530 31539350 59409330 64721810 14124479 8973031 1678537853 1884893406 1552526714 1753325967 126011139 131567439 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 1,007 REAL ESTATE BASE LOANS TOTALING $568 MILLION IN 2020. MERIWEST CREDIT UNION PROVIDED MEMBERS 22,862 CONSUMER LOANS TOTALING $373.9 MILLION IN 2020. MERIWEST CREDIT UNION OFFERED LOANS, DEPOSITS AND OTHER SERVICES TO 88,306 MEMBERS IN 2020. 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 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 22800 0 1 268 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 JENNIFER MACKIE SUPV CMTE MEMBER 2.00 X 0 0 0 JULIE ANN KIRSCH PRESIDENT/CEO 40.00 X 905585 0 7040 BRIAN HENNESSEY CHIEF FINANCIAL OFFICER 40.00 X 393458 0 211691 ANTHONY JOSE CORTEZ FORMER SVP,CXO 40.00 X 346302 0 1337 LISA MARIE PESTA SVP, CHIEF OPERATING OFFICER 40.00 X 319449 0 215924 JEFF BARNES SVP, CHIEF LENDING OFFICER 40.00 X 289136 0 14851 JIHONG HUANG VP TREASURY & FINANCE 40.00 X 266701 0 25973 LINA ESTHER HESS VP IT 40.00 X 257750 0 17349 MARY ELLEN SNIDER VP COMPLIANCE & OPERATIONAL RISK 40.00 X 191680 0 16671 ERNESTO SEGOVIA AVP NETWORK OPERATIONS 40.00 X 212830 0 23939 GENNADY FICHTENHOLZ VP DIGITAL STRATEGY AND ENGAGEMENT 40.00 X 207780 0 25330 ROBERT WESLEY ROGERS VICE PRESIDENT BUSINESS BANKING 40.00 X 204398 0 16049 MICHAEL DAVIS LUONG RELATIONSHIP MANAGER 40.00 X 196033 0 14851 JOHN KWAN ASSISTANT CONTROLLER 40.00 X 183807 0 24459 3974909 0 615464 59 0 1 0 JACK HENRY & ASSOCIATES INC 663 W HWY 60 MONETT MO 65708 IT SERVICES 998129 FTSI 406 HUNTINGTON DRIVE MONROVIA CA 91016 ATM SERVICES 582753 ZAG TECHNICAL SERVICES INC 645 RIVER OAKS PKWY SAN JOSE CA 95134 IT SERVICES 529233 FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 DEPSOSIT SERVICES 480390 BAY AREA NEWS GROUP 4 NORTH SECOND STREET SUITE 800 SAN JOSE CA 95113 MARKETING 329386 27 INTEREST ON LOANS 522100 53669026 53648713 20313 OTHER OPERATING INCOME 522100 11141464 11121984 19480 FEE INCOME 522100 3681984 3653797 28187 68492474 4761855 4761855 14860327 14787081 73246 73246 73246 OTHER NON-OPERATING RE 522100 367266 367266 367266 73694841 73626861 67980 0 17587 2500 3974909 20248399 4146472 3182777 1609816 180194 155718 1173463 1198080 6484247 503186 1750699 129186 13015474 1514129 336376 PROVISION FOR LOAN AND 2690544 LOAN SERVICING EXPENSE 1341214 MISC OPERATING EXPENSE 858063 OPERATING FEES 208777 64721810 7194312 7875488 39081205 75575335 2895639 1347088 3627709 4136057 28081808 21168999 7371176 6912809 192768636 340439886 1397789380 1420314699 2111000 2111000 25698796 26181044 1678537853 1884893406 23494737 30442288 1529031977 1722883679 1552526714 1753325967 X 0 0 0 0 126011139 131567439 126011139 131567439 1678537853 1884893406 X 8973031 2545085 -5961816 X X 0 1 X 1 0 1843986 1843986 5252697 4327445 925252 11765070 9212526 2552544 9220055 7629028 1591027 6912809 ALL OTHER INVESTMENTS 8543817 F TOTAL LOANS AND LEASES 1378052114 F NCUA INSURANCE DEPOSIT 12908455 C DEPOSITS IN COMMERCIAL BANKS 15122000 C LOANS HELD FOR SALE 5688313 F 1420314699 TOTAL SHARES AND DEPOSITS 1534231627 PROMISSORY NOTES & INTEREST PAYABLE 188652052 1722883679 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, 2020, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 HUNGER AT HOMEFOOD DRIVE 1560 BERGER DRIVE SAN JOSE CA 95112 475462753 501(C)(3) 5000 FMV TO SERVE AS A CONDUIT BETWEEN THE BUSINESS COMMUNITY AND NON-PROFIT PARTNERS BY WHICH EXCESS FOOD AND SURPLUS ARE DIVERTED FROM THE LANDFILL TO THOSE IN NEED. SECOND HARVEST OF SILICON VALLEY 750 CURTNER AVENUE SAN JOSE CA 95124 942614101 501(C)(3) 5000 FMV LEAD OUR COMMUNITY TO ENSURE THAT ANYONE WHO NEEDS A HEALTHY MEAL CAN GET ONE. LOAVES AND FISHES 1500 BERGER DRIVE SAN JOSE CA 95112 770370874 501(C)(3) 5000 FMV TO PROVIDE HOT, NUTRITIOUS PREPARED MEALS THAT ARE PREPARED, DELIVERED AND SERVED TO DISADVANTAGED INDIVIDUALS WITH A SPECIAL CONCERN FOR FAMILIES, SENIORS, AND THE HOMELESS. 3 0 1 X X X 1 1 0 JULIE ANN KIRSCH PRESIDENT/CEO 592533 0 277546 0 35506 0 0 0 7040 0 912625 0 0 0 BRIAN HENNESSEY CHIEF FINANCIAL OFFICER 337428 0 50015 0 6015 0 194090 0 17601 0 605149 0 0 0 ANTHONY JOSE CORTEZ FORMER SVP,CXO 17713 0 20000 0 308589 0 0 0 1337 0 347639 0 0 0 LISA MARIE PESTA SVP, CHIEF OPERATING OFFICER 275543 0 40000 0 3906 0 194090 0 21834 0 535373 0 0 0 JEFF BARNES SVP, CHIEF LENDING OFFICER 257431 0 20000 0 11705 0 0 0 14851 0 303987 0 0 0 JIHONG HUANG VP TREASURY & FINANCE 213867 0 35000 0 17834 0 0 0 25973 0 292674 0 0 0 LINA ESTHER HESS VP IT 219694 0 33000 0 5056 0 0 0 17349 0 275099 0 0 0 MARY ELLEN SNIDER VP COMPLIANCE & OPERATIONAL RISK 166536 0 18015 0 7129 0 0 0 16671 0 208351 0 0 0 ERNESTO SEGOVIA AVP NETWORK OPERATIONS 192195 0 9381 0 11254 0 0 0 23939 0 236769 0 0 0 GENNADY FICHTENHOLZ VP DIGITAL STRATEGY AND ENGAGEMENT 189437 0 13000 0 5343 0 0 0 25330 0 233110 0 0 0 ROBERT WESLEY ROGERS VICE PRESIDENT BUSINESS BANKING 172086 0 20515 0 11797 0 0 0 16049 0 220447 0 0 0 MICHAEL DAVIS LUONG RELATIONSHIP MANAGER 113568 0 76071 0 6394 0 0 0 14851 0 210884 0 0 0 JOHN KWAN ASSISTANT CONTROLLER 157842 0 7774 0 18191 0 0 0 24459 0 208266 0 0 0 PART I, LINES 4A-B 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. ANTHONY JOSE CORTEZ, REPORTED ON PART VII AS AN OFFICER, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $126,701 IN 2020. LISA PESTA OFFICER FIRST MORTGAGE X 456000 379659 0 1 1 JIHONG HUANG KEY EMPLOYEE FIRST MORTGAGE X 1000000 967429 0 1 1 1347088 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 -5,961,816. 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 14987175 31692839 MERIWEST CREDIT UNION MERIWEST WEALTH ADVISORS LLC 5615 CHESBRO AVE SUITE 120 SAN JOSE CA 951233046 811392554 FINANCIAL PRODUCTS CA 621119 3859304 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 1461503 ACTUAL AMOUNT PAID MERIWEST MORTGAGE COMPANY LLC Q 401499 ACTUAL AMOUNT PAID MERIWEST WEALTH ADVISORS LLC Q 679394 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 215093 ACTUAL AMOUNT PAID