2021-11-12T11:48:14-06:00 2020-12-31 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2020-01-01 951184903 SAN DIEGO COUNTY CREDIT UNION SAND 8777322848 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 ASHLEE SCOTT CFO 8777322848 2021-11-09 1 ASHLEE SCOTT 999009999 YONG ZHANG CPA P01249785 7033366400 2021-11-09 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z TERESA CAMPBELL 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 311815699 0 X WWW.SDCCU.COM X 1938 CA STATE CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO MEMBERS 11 10 1076 14 2497668 0 0 0 297896550 275746126 34543673 26568189 11230490 9501384 343670713 311815699 0 0 0 0 87212115 89723598 0 0 0 163048544 150578887 250260659 240302485 93410054 71513214 8469209045 9693856295 7068279443 8221414142 1400929602 1472442153 A NOT-FOR-PROFIT CREDIT UNION WHOLLY OWNED BY ITS MEMBERS 0 0 PROVIDE LOAN PRODUCTS AND SERVICES TO MEMBERSHIP PROVIDE DEPOSIT PRODUCTS AND SERVICES TO MEMBERSHIP PROVIDE OTHER FINANCIAL SERVICES TO MEMBERSHIP 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 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 84407 0 1 1076 1 1 1 0 0 0 0 0 1 0 X 11 10 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 1 1 0 CA AZ X ASHLEE SCOTT CFO 8777322848 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 ILAN AWERBUCH DIRECTOR 1.00 X 0 0 0 HEATHER BENJAMIN DIRECTOR 1.00 X 0 0 0 RICHARD COLLINS DIRECTOR 1.00 X 0 0 0 ALFIE GONZAGA DIRECTOR 1.00 X 0 0 0 CHRISTOPHER HART DIRECTOR 1.00 X 1547 0 0 PATRICIA HONEYCUTT DIRECTOR 1.00 X 0 0 0 SHIRLEY JACKSON DIRECTOR 1.00 X 0 0 0 LAURIE LEVENSON DIRECTOR 1.00 X 0 0 0 STEVE REUEL DIRECTOR 1.00 X 0 0 0 KEN VAN RIPER DIRECTOR 1.00 X 0 0 0 TERESA CAMPBELL CEO & PRESIDENT 40.00 X X 2129063 0 5364816 ASHLEE N MICALE EXECUTIVE VP & CFO 40.00 X 569304 0 642847 CHITRAPHOL T VONGSAWAD COSO (ENDING 03/20) 40.00 X 1628018 0 -1323804 CAROLYN KISSICK EVP, ERM & CHIEF RISK OFFICER 40.00 X 939587 0 243351 NATHAN S SCHMIDT EVP, CXO AND DIGITAL CHANNELS 40.00 X 796537 0 141748 VALERIE KWIATKOWSKI EVP, INFORMATION TECHNOLOGY 40.00 X 505762 0 29053 MICHELLE PAGNI EXECUTIVE VICE PRESIDENT, HUMAN RESOURCES 40.00 X 499594 0 514228 PATRICK M COSGROVE EVP, CONSUMER LENDING (ENDING 11/20) 40.00 X 377012 0 -211001 DENNIS W KINGERY EVP, OPS & CHIEF SALES & SERVICE OFFICER 40.00 X 373337 0 29484 MARC A MATHEWS VP, BLO 40.00 X 391276 0 132580 KAREN M SCANLAN VP, RESSM (ENDING 07/20) 40.00 X 591573 0 10024 SCOTT L MAXWELL SVP, CHIEF ITSO 40.00 X 309140 0 32074 CHRISTOPHER M WILDER SVP, OPS & CS (ENDING 07/20) 40.00 X 269840 0 38458 JOHN STEVENSON SVP, CONTROLLER (ENDING 07/20) 40.00 X 254247 0 28929 9635837 0 5672787 144 0 1 0 SHEPPARD MULLIN RICHTER & HAMPTON LLP 333 SOUTH HOPE STREET LOS ANGELES CA 90071 LEGAL SERVICES 4318713 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 31001-2374 PASADENA CA 91110 SECURITY SERVICES 1075998 BRINK'S INCORPORATED PO BOX 64115 BALTIMORE MD 21264 CASH HANDLING SERVICES 1030178 MICROSOFT CORPORATION 1950 N STEMMONDS FWY SUITE 5010 DALLAS TX 75207 SOFTWARE 935419 KPMG LLP PO BOX 120922 DALLAS TX 75312 AUDIT SERVICES 916880 48 INTEREST INCOME 522100 215881640 215881640 FEE INCOME 522100 59864486 59424815 439671 275746126 26510864 26510864 57325 0 57325 57325 57325 OTHER INCOME 522100 6555506 4497509 2057997 MEMBER INVESTMENT SERV 522100 2945878 2945878 9501384 311815699 282749842 2497668 26568189 13250482 59620389 3142829 7666691 6043207 4535243 984889 3381658 9259867 4936826 9038383 18397687 288739 36891775 8259308 775083 PROVISION FOR LOAN LOSS 23450000 LOAN PROCESSING EXPENSE 14525149 OTHER OPERATING EXPENSE 9762016 FRAUD LOSS 1155057 4937207 240302485 641586924 1209180707 6416965541 5307807021 6614420 8035832 154238592 113264183 45147038 40974409 1104431905 2878844764 254463217 249013562 8469209045 9693856295 45104198 52679526 7023175245 8168734616 7068279443 8221414142 X 0 0 0 0 1400929602 1472442153 1400929602 1472442153 8469209045 9693856295 71513214 -663 0 X 0 1 X 1 0 12500 12500 12500 1 CA CREDIT UNION LEAGUE 2855 E GUASTI RD STE 600 ONTARIO CA 91761 940357265 10000 SAN DIEGO COUNTY CREDIT UNIONS' PAC 9201 SPECTRUM CENTER BLVD SAN DIEGO CA 92123 743032876 2500 PART I-A, LINE 1: SDCCU HAD A $12,500 POLITICAL ACTION COMMITTEE CONTRIBUTION TO THE CA CREDIT UNION LEAGUE IN DECEMBER 2020. 12020901 12020901 39068627 24237524 14831103 21102256 16994389 4107867 82046808 72032270 10014538 40974409 GOVERNMENT INVESTMENTS 65749 F GOVERNMENT INVESTMENTS 2561529015 C FHLB OF SAN FRANCISCO 17250000 F LONG TERM INV-REPO AGREEMENTS 300000000 F 2878844764 MEMBERS' SHARES 8168734616 8168734616 X 311815036 -663 -663 311815699 0 311815699 240302485 0 240302485 0 240302485 PART X, LINE 2: INCOME TAXES: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES, EXCEPT FOR UNRELATED BUSINESS INCOME, AS DEFINED IN IRC SECTION 512 AND IN TECHNICAL ADVICE MEMORANDUMS (TAM) RELEASED IN 2007 TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. MANAGEMENT HAS DETERMINED THAT NO MATERIAL LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. FASB CODIFICATION TOPIC 740, 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 TO BE SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X 1 1 X X X X 1 1 0 TERESA CAMPBELL CEO & PRESIDENT 1124879 0 1000620 0 3564 0 5327182 0 37634 0 7493879 0 0 0 ASHLEE N MICALE EXECUTIVE VP & CFO 428293 0 140000 0 1011 0 621384 0 21463 0 1212151 0 0 0 CHITRAPHOL T VONGSAWAD COSO (ENDING 03/20) 143310 0 0 0 1484708 0 -1327250 0 3446 0 304214 0 0 0 CAROLYN KISSICK EVP, ERM & CHIEF RISK OFFICER 408297 0 530000 0 1290 0 231816 0 11535 0 1182938 0 0 0 NATHAN S SCHMIDT EVP, CXO AND DIGITAL CHANNELS 348263 0 447713 0 561 0 127181 0 14567 0 938285 0 0 0 VALERIE KWIATKOWSKI EVP, INFORMATION TECHNOLOGY 369472 0 135000 0 1290 0 11159 0 17894 0 534815 0 0 0 MICHELLE PAGNI EXECUTIVE VICE PRESIDENT, HUMAN RESO 347182 0 150000 0 2412 0 502616 0 11612 0 1013822 0 0 0 PATRICK M COSGROVE EVP, CONSUMER LENDING (ENDING 11/20) 376213 0 0 0 799 0 -229458 0 18457 0 166011 0 0 0 DENNIS W KINGERY EVP, OPS & CHIEF SALES & SERVICE OFF 292496 0 80000 0 841 0 11400 0 18084 0 402821 0 0 0 MARC A MATHEWS VP, BLO 116842 0 273340 0 1094 0 122090 0 10490 0 523856 0 0 0 KAREN M SCANLAN VP, RESSM (ENDING 07/20) 132055 0 273340 0 186178 0 8550 0 1474 0 601597 0 0 0 SCOTT L MAXWELL SVP, CHIEF ITSO 253301 0 55000 0 839 0 11400 0 20674 0 341214 0 0 0 CHRISTOPHER M WILDER SVP, OPS & CS (ENDING 07/20) 147336 0 0 0 122504 0 11017 0 27441 0 308298 0 0 0 JOHN STEVENSON SVP, CONTROLLER (ENDING 07/20) 144082 0 0 0 110165 0 10180 0 18749 0 283176 0 0 0 PART I, LINE 1B THE FOLLOWING DIRECTOR WAS PROVIDED BENEFITS AND REIMBURSEMENTS RELATING TO TRAVEL FOR COMPANIONS: CHRISTOPHER HART - $1,547 PART I, LINES 4A-B SCHEDULE J, PART I, LINE 4A: FOUR EMPLOYEES WHO RECEIVED A SEVERANCE PAYMENT FROM THE ORGANIZATION, PROPERLY REPORT THEIR RESPECTIVE COMPENSATION, ON FORM 990, PART VII AND SCHEDULE J, PART II. THE TERMS AND CONDITIONS OF THE AGREEMENT ARE CONFIDENTIAL AND CAN BE MADE AVAILABLE TO THE IRS UPON REQUEST. ALL AMOUNTS PAID DURING THE PERIOD COVERED BY THIS RETURN, ARE APPROPRIATELY INCLUDED IN FORM 990, PART VII, AND IN SCHEDULE J, PART II AS A PART OF REPORTABLE COMPENSATION REPORTED ON THEIR RESPECTIVE FORMS W-2. SCHEDULE J, PART I, LINE 4B: SDCCU PROVIDES CERTAIN OFFICERS, DIRECTORS, KEY EMPLOYEES AND HIGHLY COMPENSATED EXECUTIVES WITH A SPLIT-DOLLAR SUPPLEMEMTAL EXECUTIVE RETIREMENT PLAN (SERP) TO AUGMENT RETIREMENT INCOME FOR THESE EMPLOYEES. AMOUNTS CREDITED TO PARTICIPANTS ARE EARNED ON AN ANNUAL BASIS AND BASED ON CERTAIN ACTUARIAL FACTORS. THE AMOUNTS ARE ALSO SUBJECT TO FORFEITURE IF CERTAIN EMPLOYMENT CONDITIONS AND VESTING PERIODS ARE NOT MET. FOR THE YEAR ENDING DECEMBER 31, 2020, THE INDIVIDUALS LISTED IN SCHEDULE J, PART II HAD AN AMOUNT RELATING TO THE SERP BENEFITS LISTED AS DEFERRED COMPENSATION LISTED IN COLUMN C: TERESA CAMPBELL - $5,315,782 ASHLEE N. MICALE - $610,563 CHITRAPHOL T. VONGSAWAD - $(-1,338,650) CAROLYN KISSICK - $220,416 NATHAN S. SCHMIDT - $116,029 MICHELLE PAGNI - $491,216 PATRICK M. COSGROVE - $(-240,858) MARC A MATHEWS - $110,860 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A NOT-FOR-PROFIT ORGANIZATION MADE UP OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS MAY ELECT ALL MEMBERS OF THE BOARD OF DIRECTORS AND THE SUPERVISORY COMMITTEE. MEMBERS MAY NOMINATE CANDIDATES FOR THE BOARD THROUGH A PETITION PROCESS SET FORTH IN THE BYLAWS. A NOMINATION COMMITTEE ALSO NOMINATES CANDIDATES. IF MEMBERS FAIL TO NOMINATE A CANDIDATE FOR AN OPEN BOARD POSITION, THEN THE NOMINATION COMMITTEE'S CANDIDATE MAY BE APPOINTED TO THE BOARD WITHOUT AN ELECTION. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS MADE BY THE CREDIT UNION'S BOARD OF DIRECTORS ARE SUBJECT TO REGULATORY OR MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER ("CFO") AND ACCOUNTING MANAGER, WHO CONSULT WITH EXTERNAL CPA FIRMS AND LEGAL COUNSEL AS NEEDED TO ENSURE THE ACCURACY AND SUFFICIENCY OF ALL RESPONSES. FORM 990, PART VI, SECTION B, LINE 12C THERE ARE REGULAR COMPLIANCE REVIEWS BY THE CREDIT UNION'S COMPLIANCE OFFICER AND A THIRD (3RD) PARTY VENDOR WHICH ADDRESSES COMPLIANCE WITH ALL CREDIT UNION POLICIES. IN ADDITION, REGULATORS AND CPA'S MONITOR COMPLIANCE DURING THEIR PERIODIC AND ANNUAL AUDITS. FORM 990, PART VI, SECTION B, LINE 15 HUMAN RESOURCES PARTICIPATES IN SURVEYS AND PROVIDES COMPARABILITY DATA ON COMPENSATION FOR KEY OFFICERS TO THE CEO. OUTSIDE PROFESSIONALS ALSO VALIDATE THE COMPENSATION DATA ON A PERIODIC BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY COMPLYING WITH THE PUBLIC DISCLOSURE REQUIREMENTS SET FORTH IN THE REGULATIONS FOR IRC SECTION 6104 AT 26 C.F.R. SECTION 301.604 FRESH START REAL ESTATE LLC 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 452981200 REAL ESTATE CA 1693 551849 SAN DIEGO COUNTY CREDIT UNION SD FINANCIAL GROUP LLC 6545 SEQUENCE DRIVE SAN DIEGO CA 92121 452980994 E-COMMERCE - INACTIVE CA 0 0 SAN DIEGO COUNTY CREDIT UNION