2021-11-08T10:49:12-06:00 2020-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2020-01-01 952513485 FIRST ENTERTAINMENT CREDIT UNION FKA CREDIT UNIONS IN THE STATE OF CA FIRS 8888003328 6735 FOREST LAWN DRIVE NO 300 HOLLYWOOD CA 90068 KEN KRAMER SVP/CFO 8888003328 2021-11-04 1 KEN KRAMER 999009999 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z LISA LANDT 6735 FOREST LAWN DRIVE NO 300 HOLLYWOOD CA 90068 71717254 0 X WWW.FIRSTENT.ORG X CREDIT UNION 1967 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 295 19 115160 0 0 0 62907619 63142535 11482320 8417287 224399 99059 74614338 71658881 38830 30158 0 0 25814245 29119068 0 0 0 36094823 43334848 61947898 72484074 12666440 -825193 1613755239 1891651990 1461009657 1736307258 152745582 155344732 X FIRST ENTERTAINMENT 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, FIRST ENTERTAINMENT 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 FIRST ENTERTAINMENT CREDIT UNION OFFERS ITS MEMBERS A VARIETY OF SAVINGS PROGRAMS INCLUDING CHECKING ACCOUNTS, MONEY MARKET ACCOUNTS, TERM SAVINGS CERTIFICATES, AND IRAS. ADDITIONALLY, THE CREDIT UNION OFFERS BUSINESS CHECKING AND MONEY MARKET ACCOUNTS. FIRST ENTERTAINMENT CREDIT UNION MEMBERS HAVE ACCESS TO A VARIETY OF LOAN PRODUCTS INCLUDING PERSONAL AND AUTO LOANS AND A COMPREHENSIVE PORTFOLIO OF REAL ESTATE LOANS. ADDITIONALLY, THE CREDIT UNION OFFERS A COMPLETE SUITE OF COMMERCIAL REAL ESTATE AS WELL AS COMMERCIAL AND INDUSTRIAL LOANS TO SERVICE BUSINESS LENDING NEEDS. FIRST ENTERTAINMENT CREDIT UNION MEMBERS ENJOY FREE ONLINE ACCOUNT ACCESS AS WELL AS A VARIETY OF ADDITIONAL MEMBER-ONLY BENEFITS. 0 0 1 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 0 1 1 0 0 1 37794 0 1 295 1 1 1 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 1 1 1 1 1 0 CA X X FELIPE CASTANEDA VP FINANCE 3234364203 6735 FOREST LAWN DRIVE SUITE 300 HOLLYWOOD CA 90068 HOWARD WELINSKY BOARD CHAIR 1.00 X 0 0 0 MICHAEL EDWARDS BOARD VICE-CHAIR 1.00 X 0 0 0 IRWIN JACOBSON TREASURER 1.00 X 0 0 0 PATRICK WALTERS SECRETARY 1.00 X 0 0 0 DENNIS TANGE BOARD MEMBER 1.00 X 0 0 0 GARI ANN DOUGLAS BOARD MEMBER 1.00 X 0 0 0 LAURA VALAN BOARD MEMBER 1.00 X 0 0 0 STEPHEN RAYNES BOARD MEMBER 1.00 X 0 0 0 TERRA POTTS BOARD MEMBER 1.00 X 0 0 0 LISA LANDT PRESIDENT/CEO 40.00 X 749079 0 36066 FRANK WASSON FORMER PRESIDENT/CEO 40.00 X 542570 0 38106 KENNETH KRAMER SVP/CFO 40.00 X 168028 0 20448 THOMAS E ORMAN SVP/CLO 40.00 X 348655 0 23114 MICHELLE FRATTOLIN SVP/CAO/CHRO 40.00 X 344663 0 36066 ADDIE ALLISON SVP/CXO 40.00 X 278641 0 45522 JAMES MARCELLINO VP, OPERATIONS 40.00 X 253281 0 28817 JENNIFER JORDAN VP, RISK MANAGEMENT & GENERAL COUNSEL 40.00 X 239811 0 14239 AMONDO D REDMOND FORMER VP, CHIEF MARKETING OFFICER 40.00 X 237782 0 18178 WILLIAM H WALKER VP, REAL ESTATE LENDING 40.00 X 226913 0 34411 WILLIAM J BENNETT FORMER VP, COMMERCIAL LENDING AND BUSINESS BANKING 40.00 X 224845 0 26186 NAS BIRMINGHAM VP, DIGITAL EXPERIENCE 40.00 X 222359 0 32848 STEPHEN BONE FORMER SVP/CIO 40.00 X 220880 0 5842 LORI L MARSCHALK FORMER VP, RETAIL 40.00 X 208347 0 5422 RAMI BORSHEH VP, CONSUMER LOANS & RESOLUTIONS 40.00 X 202516 0 12020 DANIEL ARITA VP, PAYMENTS/PMO 40.00 X 189076 0 18981 JONAH M LAFOLLETTE VP, TECHNOLOGY 40.00 X 170957 0 45091 FELIPE A CASTANEDA VP, FINANCE 40.00 X 160714 0 44741 VYTAUTAS A KEBLYS REAL ESTATE LOAN OFFICER 40.00 X 364370 0 18134 EDWARD CHOU REAL ESTATE LOAN OFFICER 40.00 X 310862 0 19184 JACQUELYN PAYTON REAL ESTATE LOAN OFFICER 40.00 X 242485 0 14375 MATTHEW A KENNEDY COMMERCIAL BUSINESS DEVELOPMENT OFFICER 40.00 X 193432 0 18092 PATRICIA A MARTINEZ-SKINNER REAL ESTATE LOAN OFFICER 40.00 X 188567 0 45583 6288833 0 601466 65 0 1 0 THE REC LEAGUE LLC 118 SUNRIDGE STREET PLAYA DEL REY CA 90293 MARKETING AND ADVERTISING 1040498 EXCEL SPORTS MANAGEMENT LLC 1700 BROADWAY 29TH FLOOR NEW YORK NY 10019 MARKETING AND ADVERTISING 550730 BLUESPACE INTERIORS 23303 LA PALMA AVE YORBA LINDA CA 92887 FURNITURE 450565 BROW DOWN ENTERPRISE LLC 936 CIVIC CENTER DR BEVERLY HILLS CA 90210 MARKETING AND ADVERTISING 375000 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 31001-2374 PASADENA CA 911102374 SECURITY SERVICES 371621 10 INTEREST ON LOANS 522100 46945256 46945256 OTHER OPERATING INCOME 522100 11872067 11845853 26214 FEE INCOME 522100 4325212 4236266 88946 63142535 7250052 7250052 1225608 58373 1167235 1167235 1167235 OTHER NON-OPERATING IN 522100 69872 69872 UNREALIZED GAIN FV OF 522100 29187 29187 99059 71658881 71543721 115160 0 30158 6288833 18416359 532753 2333134 1547989 834001 87300 2714451 7517075 5657502 2816590 2784745 380905 6475054 2349325 380423 PROVISION FOR LOAN & LE 7394941 LOAN SERVICING EXPENSE 2385199 MISCELLANEOUS EXPENSES 980860 ATM EXPENSES 330581 245896 72484074 6001536 15348295 105332974 197935124 7732088 7870986 3391369 3317168 29227240 20296173 9128089 8931067 356761721 417082072 1095181580 1200847663 30225882 40319615 1613755239 1891651990 17129012 16138178 1443880645 1720169080 1461009657 1736307258 X 0 0 0 0 152745582 155344732 152745582 155344732 1613755239 1891651990 X -825193 3386662 37681 X X 0 1 X 1 0 500 500 500 1 ANTHONY PORTANTINO FOR SENATE 2020 1414 K STREET SUITE 250 SACRAMENTO CA 95814 500 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES TO INDIVIDUALS RUNNING FOR OFFICES WHO SUPPORT CREDIT UNION ISSUES. THE CREDIT UNION WAS UNABLE TO OBTAIN AN EIN FOR THE FOLLOWING INDIVIDUAL RUNNING FOR SENATE 2020. FOLLOWING IS THE NAME, ADDRESS AND FPPC# OF THE CAMPAIGN: ANTHONY PORTANTINO 1414 K STREET, SUITE 250 SACRAMENTO, CA 95814 ID#1392849 1097000 1097000 9281014 6046428 3234586 8642896 6348537 2294359 10206330 7901208 2305122 8931067 LOANS AND LEASES 1177064670 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 14424893 F ALL OTHER INVESTMENTS 9358100 F 1200847663 MEMBER DEPOSITS 1720169080 1720169080 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 SHOULD 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, 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. 1 CHILDREN'S MIRACLE NETWORK HOSPITAL 1351 HARTER PARKWAY YUBA CITY CA 95993 870387205 501(C)(3) 16500 FMV TO PROVIDE THE BEST CARE FOR KIDS IN CHILDREN'S HOSPITALS CALIFORNIA CREDIT UNION LEAGUE PO BOX 51476 ONTARIO CA 917610076 940357265 501(C)(6) 6000 FMV PARTNERS FOR ADVOCACY PROGRAM SPONSORSHIP 1 1 X X X X 0 1 0 LISA LANDT PRESIDENT/CEO 639825 0 98272 0 10982 0 8550 0 27516 0 785145 0 0 0 FRANK WASSON FORMER PRESIDENT/CEO 432768 0 99779 0 10023 0 8550 0 29556 0 580676 0 0 0 KENNETH KRAMER SVP/CFO 162427 0 0 0 5601 0 4478 0 15970 0 188476 0 0 0 THOMAS E ORMAN SVP/CLO 283670 0 60550 0 4435 0 8550 0 14564 0 371769 0 0 0 MICHELLE FRATTOLIN SVP/CAO/CHRO 268848 0 66393 0 9422 0 8550 0 27516 0 380729 0 0 0 ADDIE ALLISON SVP/CXO 213181 0 61275 0 4185 0 5901 0 39621 0 324163 0 0 0 JAMES MARCELLINO VP, OPERATIONS 222885 0 26282 0 4114 0 7701 0 21116 0 282098 0 0 0 JENNIFER JORDAN VP, RISK MANAGEMENT & GENERAL COUNSE 194821 0 40990 0 4000 0 7210 0 7029 0 254050 0 0 0 AMONDO D REDMOND FORMER VP, CHIEF MARKETING OFFICER 205214 0 28796 0 3772 0 7203 0 10975 0 255960 0 0 0 WILLIAM H WALKER VP, REAL ESTATE LENDING 190771 0 28485 0 7657 0 6895 0 27516 0 261324 0 0 0 WILLIAM J BENNETT FORMER VP, COMMERCIAL LENDING AND BUSINESS 185907 0 33873 0 5065 0 6865 0 19321 0 251031 0 0 0 NAS BIRMINGHAM VP, DIGITAL EXPERIENCE 182103 0 36249 0 4007 0 5332 0 27516 0 255207 0 0 0 STEPHEN BONE FORMER SVP/CIO 190059 0 25000 0 5821 0 5671 0 171 0 226722 0 0 0 LORI L MARSCHALK FORMER VP, RETAIL 181385 0 20345 0 6617 0 5422 0 0 0 213769 0 0 0 RAMI BORSHEH VP, CONSUMER LOANS & RESOLUTIONS 178679 0 19513 0 4324 0 4991 0 7029 0 214536 0 0 0 DANIEL ARITA VP, PAYMENTS/PMO 180094 0 5000 0 3982 0 5783 0 13198 0 208057 0 0 0 JONAH M LAFOLLETTE VP, TECHNOLOGY 166946 0 0 0 4011 0 5470 0 39621 0 216048 0 0 0 FELIPE A CASTANEDA VP, FINANCE 156494 0 25 0 4195 0 5120 0 39621 0 205455 0 0 0 VYTAUTAS A KEBLYS REAL ESTATE LOAN OFFICER 122689 0 239779 0 1902 0 3570 0 14564 0 382504 0 0 0 EDWARD CHOU REAL ESTATE LOAN OFFICER 94700 0 214257 0 1905 0 5986 0 13198 0 330046 0 0 0 JACQUELYN PAYTON REAL ESTATE LOAN OFFICER 101546 0 139049 0 1890 0 7335 0 7040 0 256860 0 0 0 MATTHEW A KENNEDY COMMERCIAL BUSINESS DEVELOPMENT OFFI 102164 0 88899 0 2369 0 4894 0 13198 0 211524 0 0 0 PATRICIA A MARTINEZ-SKINNER REAL ESTATE LOAN OFFICER 70577 0 116114 0 1876 0 5962 0 39621 0 234150 0 0 0 PART I, LINE 4B THE CREDIT UNION OFFERS A NONQUALIFIED RETIREMENT, 457(F) PLAN. THE PLAN IS UNFUNDED, THEREFORE BENEFITS ARE PAID FROM THE GENERAL ASSETS OF THE CREDIT UNION. LISA LANDT, ADDIE ALLISON AND JAMES MARCELLINO WERE PARTICIPANTS AS OF DECEMBER 31, 2020. THE CREDIT UNION ENTERED INTO A SPLIT-DOLLAR AGREEMENT WITH TWO CREDIT UNION EXECUTIVES. UNDER THE ARRANGEMENT, THE CREDIT UNION MAKES A LOAN TO THE EXECUTIVE EQUAL TO THE LIFE INSURANCE POLICY PREMIUMS. THE EXECUTIVE ASSIGNS THE INSURANCE POLICY TO THE CREDIT UNION AS COLLATERAL FOR REPAYING THE PREMIUMS AND BORROWS FROM THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE CREDIT UNION IS REPAID FROM THE POLICY'S DEATH PROCEEDS UNLESS EARLIER TERMINATED. INTEREST ACCRUES ON THE LOANS AT THE APPLICABLE FEDERAL RATE AT THE TIME OF THE ADVANCE. ANY PRINCIPAL OR INTEREST NOT REPAID UNDER THE ARRANGEMENTS IS TAXABLE TO THE EXECUTIVE. AS OF SEPTEMBER 30, 2020 AND 2019, THE BALANCE OF THE LOAN TO ONE OF THE EXECUTIVES UNDER THIS ARRANGEMENT WAS APPROXIMATELY $3,696,120 AND $3,817,327, RESPECTIVELY. AS OF SEPTEMBER 30, 2020 AND 2019, THE BALANCE OF THE LOAN TO THE EXECUTIVE UNDER THIS ARRANGEMENT WAS APPROXIMATELY $1,959,846 AND $1,950,000, RESPECTIVELY. THE EXECUTIVE MAY BORROW UP TO $1,039,500 AGAINST THE POLICY BASED ON A VESTING SCHEDULE AS DEFERRED COMPENSATION. IN ANTICIPATION OF THE BORROWING BY THE EXECUTIVE, THE CREDIT UNION HAS ACCRUED $459,811 AND $280,000 IN ACCRUED EXPENSES AND OTHER LIABILITIES AS OF SEPTEMBER 30, 2020 AND 2019, RESPECTIVELY. FRANK WASSON OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 3775000 3677444 0 1 1 WILLIAM BENNETT OFFICER MORTGAGE X 516000 498012 0 1 1 WILLIAM BENNETT OFFICER AUTO X 35997 30721 0 0 1 LISA LANDT OFFICER MORTGAGE X 312500 294988 0 1 1 MICHELLE FRATTOLIN OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 1950000 1959846 0 1 1 LISA LANDT OFFICER MORTGAGE X 171000 132287 0 1 1 ADDIE ALLISON OFFICER HELOC X 75000 24618 0 1 1 ADDIE ALLISON OFFICER MORTGAGE X 606000 583951 0 1 1 LORI L MARSCHALK OFFICER MORTGAGE X 641000 638449 0 1 1 LORI L MARSCHALK OFFICER AUTO X 35117 30670 0 0 1 7870986 FORM 990, PART VI, SECTION A, LINE 6 FIRST ENTERTAINMENT 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. FIRST ENTERTAINMENT CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF FIRST ENTERTAINMENT 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 REVIEWED BY THE BOARD DURING ONE OF ITS BOARD MEETINGS. 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 AT THE BEGINNING OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD CONDUCTS AN EXECUTIVE COMMITTEE SESSION TO DETERMINE SALARY OF THE PRESIDENT/CEO. FIRST ENTERTAINMENT CREDIT UNION ALSO HAS A COMPENSATION SYSTEM THAT COMPARES SALARIES BASED ON OTHER CREDIT UNIONS, THEIR ASSET SIZE AND GEOGRAPHIC LOCATION. FIRST ENTERTAINMENT 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 FIRST ENTERTAINMENT 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 FIRST ENTERTAINMENT CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. FORM 990, PART XI, LINE 9: ADJUSTMENT TO UNDIVIDED EARNINGS 37,681. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. MEDIA BENEFITS CORP 6735 FOREST LAWN DR SUITE 300 HOLLYWOOD CA 90068 953974685 SALES CA FIRST ENT CU C 551295 47231 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0