2021-11-15T12:40:57-06:00 2020-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2020-01-01 941278209 THE POLICE CREDIT UNION OF CALIFORNIA POLI 4155643800 1250 GRUNDY LANE SAN BRUNO CA 94066 EDDIE YOUNG CEO 4155643800 2021-11-12 1 EDDIE YOUNG 999009999 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z EDDIE YOUNG 1250 GRUNDY LANE SAN BRUNO CA 94066 37025982 0 X WWW.THEPOLICECU.ORG X CREDIT UNION 1953 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 148 10 98703 0 0 0 34458807 34455691 5391168 2569987 0 0 39849975 37025678 9038 16108 0 0 13390191 15507398 0 0 0 20213153 21245268 33612382 36768774 6237593 256904 937699327 1072229522 802286174 934219698 135413153 138009824 X THE POLICE CREDIT UNION OF CALIFORNIA 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, THE POLICE CREDIT UNION OF CALIFORNIA CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCTS OFFERINGS, INCLUDING A NO FEE CHECKING ACCOUNT PRODUCTS AND HIGH RATE MONEY MARKET. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 9924 0 1 148 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X EDDIE YOUNG CEO 4155643800 1250 GRUNDY LN SAN BRUNO CA 94066 JOHN GOLDBERG CHAIRPERSON 1.00 X 0 0 0 STEVE TACCHINI VICE CHAIRPERSON 1.00 X 0 0 0 MICHELLE JEAN BOARD SECRETARY 1.00 X 0 0 0 CROCE A CASCIATO BOARD MEMBER 1.00 X 0 0 0 MIKE HEBEL BOARD MEMBER 1.00 X 0 0 0 ROBERT PUTS BOARD MEMBER 1.00 X 0 0 0 GLENN R SYLVESTER BOARD MEMBER 1.00 X 0 0 0 EDDIE YOUNG PRESIDENT/CEO 56.00 X 631268 0 30037 MICHAEL BARE SVP/CFO 56.00 X 289076 0 49887 DEIRDRE CLOHERTY SVP/COO 56.00 X 258246 0 20252 BLAKE PELLETIER SVP/CIO 56.00 X 242388 0 50391 SHANEEL MAHARAJ SVP/MEMBER EXPERIENCE 56.00 X 221175 0 25232 MICHAEL MASTERS VP BUSINESS APP SERVICES 40.00 X 199323 0 23272 KATHLEEN GRAHAM SVP/MARKETING 56.00 X 196977 0 55470 ROBYN CALADIM FORMER VP REAL ESTATE 40.00 X 192363 0 22610 DARLENE HONG VP MEMBER DEVELOPMENT 40.00 X 180996 0 12777 NATALIE SIGNORELLI VP HUMAN RESOURCES 40.00 X 169156 0 12884 SUSAN KIRK VP ACCOUNTING & EPS 40.00 X 169123 0 14721 BRIAN YOUNG FORMER AVP MEMBER EXPERIENCE 40.00 X 200138 0 23361 VICTOR TO NETWORK SERVICES MANAGER 40.00 X 154246 0 12738 THOMAS HUGHES AVP RISK MANAGEMENT 40.00 X 153737 0 24331 JULIETA TORRES AVP ELECTRONIC PAYMENTS 40.00 X 151340 0 13428 CHRISTOPHER MICHALAK SVP/LENDING 56.00 X 143478 0 16252 PATRICK CHIN INFRASTRUCTURE SERVICE MAN 40.00 X 131491 0 40238 3684521 0 447881 40 0 1 0 CORELATION INC 2305 HISTORIC DECATUR RD 300 SAN DIEGO CA 92106 SYSTEM SUPPORT 748858 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 75320 SYSTEM SUPPORT 704203 NCR CORPORATION 14181 COLLECTIONS CENTER DR CHICAGO IL 60693 SYSTEM SUPPORT 602994 SHI INTERNATIONAL CORP BOX 952121 DALLAS TX 753952121 SOFTWARE SUPPORT 349204 INFO IMAGE 175 SOUTH HILL DRIVE BRISBANE CA 94005 SYSTEM SUPPORT 311456 29 INTEREST ON LOANS 522100 26286620 26286620 OTHER OPERATING INCOME 522100 6685361 6595561 89800 FEE INCOME 522100 1483710 1474807 8903 34455691 2570291 2570291 304 -304 -304 -304 37025678 36926975 98703 0 4108 12000 3684521 9176150 853072 915686 877969 114006 120000 8833 1434655 1001776 4769004 1685892 1276681 74896 4206319 2973426 316987 LOAN SERVICING EXPENSE 2010830 PROVISION FOR LOAN LOSS 1014308 MISC OPERATING EXPENSE 119294 OPERATING FEES 118361 36768774 1469696 2011486 78327454 130536371 9208852 9989150 1738934 1821126 66078218 13335535 53916873 52742683 87063268 271002049 684752092 582291573 131475 131475 21090683 21703609 937699327 1072229522 5814495 6233825 796471679 927985873 802286174 934219698 X 0 0 0 0 135413153 138009824 135413153 138009824 937699327 1072229522 256904 2339767 0 X X 0 1 X 1 0 4108 4108 4108 1 CCUL PAC PO BOX 51476 ONTARIO CA 91761 940357265 4108 6155905 6155905 52714444 8309506 44404938 6003436 5026029 977407 1204433 1204433 52742683 DEPOSITS IN COMMERCIAL BANKS 1395000 C NET LOANS & LEASES 564676550 F INVESTMENTS IN NATURAL PERSON CUS 847000 C NCUA SHARE INSURANCE CAPITALIZATION DEPOSITS 7590255 C ALL OTHER INVESTMENTS 7182768 F PERPETUAL CONTRIBUTED CAPITAL 600000 C 582291573 TOTAL SHARES AND DEPOSITS 922985873 OTHER NOTES, PROMISSORY NOTES & INTEREST PAYABLE 5000000 927985873 X 37025678 0 37025678 0 37025678 36768774 0 36768774 0 36768774 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 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, 2020, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. 1 SCHOLARSHIPS 6 12000 FMV SCHEDULE I, PART I, LINE 2: THE POLICE CREDIT UNION HAS PLEDGED TO SUPPORT THEIR LAW ENFORCEMENT MEMBERS AND THEIR FAMILIES BY AWARDING SCHOLARSHIPS TO DESERVING MEMBERS WHO PROVE THEIR ACADEMIC EXCELLENCE AND CONTRIBUTE TO THE IMPROVEMENT OF THEIR LOCAL COMMUNITY. THE POLICE CREDIT UNION'S EXECUTIVE STAFF SELECTS THE WINNERS WITH THE BOARD OF DIRECTORS' APPROVAL. CANDIDATES ARE JUDGED BASED ON THEIR ACADEMIC ACHIEVEMENTS, INVOLVEMENT IN COMMUNITY ACTIVITIES, PARTICIPATION IN EXTRACURRICULAR ACTIVITIES, WORK EXPERIENCE, A PERSONAL RECOMMENDATION THEY MUST PROVIDE, AND AN ESSAY QUESTION THEY MUST ANSWER EITHER IN WRITING OR VIA VIDEO. X X 1 1 0 EDDIE YOUNG PRESIDENT/CEO 597495 0 0 0 33773 0 21650 0 8387 0 661305 0 0 0 MICHAEL BARE SVP/CFO 268366 0 0 0 20710 0 21650 0 28237 0 338963 0 0 0 DEIRDRE CLOHERTY SVP/COO 257571 0 0 0 675 0 20168 0 84 0 278498 0 0 0 BLAKE PELLETIER SVP/CIO 238699 0 0 0 3689 0 19723 0 30668 0 292779 0 0 0 SHANEEL MAHARAJ SVP/MEMBER EXPERIENCE 220629 0 0 0 546 0 16845 0 8387 0 246407 0 0 0 MICHAEL MASTERS VP BUSINESS APP SERVICES 191525 0 0 0 7798 0 15302 0 7970 0 222595 0 0 0 KATHLEEN GRAHAM SVP/MARKETING 193503 0 0 0 3474 0 16800 0 38670 0 252447 0 0 0 ROBYN CALADIM FORMER VP REAL ESTATE 191212 0 0 0 1151 0 14687 0 7923 0 214973 0 0 0 DARLENE HONG VP MEMBER DEVELOPMENT 169345 0 0 0 11651 0 11387 0 1390 0 193773 0 0 0 NATALIE SIGNORELLI VP HUMAN RESOURCES 161491 0 0 0 7665 0 12884 0 0 0 182040 0 0 0 SUSAN KIRK VP ACCOUNTING & EPS 168751 0 0 0 372 0 13335 0 1386 0 183844 0 0 0 BRIAN YOUNG FORMER AVP MEMBER EXPERIENCE 96463 0 0 0 103675 0 6735 0 16626 0 223499 0 0 0 VICTOR TO NETWORK SERVICES MANAGER 148113 0 0 0 6133 0 12305 0 433 0 166984 0 0 0 THOMAS HUGHES AVP RISK MANAGEMENT 152309 0 0 0 1428 0 12053 0 12278 0 178068 0 0 0 JULIETA TORRES AVP ELECTRONIC PAYMENTS 149982 0 0 0 1358 0 12075 0 1353 0 164768 0 0 0 CHRISTOPHER MICHALAK SVP/LENDING 142840 0 0 0 638 0 11215 0 5037 0 159730 0 0 0 PATRICK CHIN INFRASTRUCTURE SERVICE MAN 120275 0 0 0 11216 0 12001 0 28237 0 171729 0 0 0 PART I, LINES 4A-B A SPLIT-DOLLAR LIFE INSURANCE AGREEMENT WAS SIGNED BETWEEN THE CREDIT UNION AND ITS CEO EFFECTIVE JULY 29, 2016. THE CEO IS THE SOLE OWNER OF THE LIFE INSURANCE POLICIES PURCHASED. BRIAN YOUNG RECEIVED A SEVERANCE PAYMENT IN 2020. EDDIE YOUNG OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 8320717 9485118 0 1 1 MICHAEL BARE OFFICER MORTGAGE X 610000 504032 0 1 1 9989150 FORM 990, PART VI, SECTION A, LINE 6 THE POLICE CREDIT UNION OF CALIFORNIA 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. THE POLICE CREDIT UNION OF CALIFORNIA DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF THE POLICE CREDIT UNION OF CALIFORNIA 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 COMPLETED FORM 990 WILL BE REVIEWED BY MANAGEMENT FOR ACCURACY AND A COPY OF THE 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE RECEIVES, REVIEWS AND PROVIDES A SIGNED ACKNOWLEDGEMENT OF THE EMPLOYEE HANDBOOK UPON BEING HIRED. THE EMPLOYEE HANDBOOK INCLUDES A CONFLICT OF INTEREST POLICY. DECISIONS MADE AT THE EXECUTIVE AND DEPARTMENTAL LEVELS CONSIDER CONFLICT OF INTEREST POLICIES. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY THE HR DEPARTMENT CONDUCTS A FULL ANALYSIS UTILIZING 1-3 CREDIT UNION INDUSTRY SPECIFIC SALARY SURVEYS. THIS DATA IS THEN TRENDED UP TO LEAD THE MARKET. THE MARKET DATA IS THEN COMPARED TO INTERNAL COMPENSATION STRUCTURES. SPECIAL ATTENTION IS GIVEN TO GREEN AND RED CIRCLE SITUATIONS. INTERNAL PAY EQUITY ANALYSIS IS ALSO CONDUCTED. HR THEN PREPARES A MERIT INCREASE MATRIX BASED UPON PROJECTED BUDGETING AND PRESENTS TO CEO, COO AND CFO. ONCE AGREED UPON, THE ANALYSIS IS PRESENTED TO THE BOD. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE BUILDING LOBBY AND MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.