2021-11-15T10:55:51-06:00 2020-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2020-01-01 951593663 WHEELHOUSE CREDIT UNION FKA SAN DIEGO METROPOLITAN CREDIT UNION WHEE 6192974835 PO BOX 719099 SAN DIEGO CA 92171 LISA PAUL-HILL CEO 6192974835 2021-11-12 1 LISA PAUL-HILL 999009999 VALENTINO CREUS CPA P01054153 8189549700 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z LISA PAUL-HILL PO BOX 719099 SAN DIEGO CA 92171 16826599 0 X WWW.WHEELHOUSECU.COM X CREDIT UNION 1934 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 114 14 139812 0 0 0 14539451 16229161 801208 482095 489038 115343 15829697 16826599 8000 11000 0 0 7062087 7780622 0 0 0 9012340 8939156 16082427 16730778 -252730 95821 332489066 376061136 302594891 345824388 29894175 30236748 X SEE SCHEDULE OWHEELHOUSE 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, WHEELHOUSE 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 AMONG OUR LARGEST ACCOUNT HOLDER BASE (OUTSIDE OF MEMBERSHIP SAVINGS) IS A CHECKING ACCOUNT. WHEELHOUSE OFFERS VARIOUS PRODUCT LINES WITH VARYING FEATURES AND BENEFITS. OUR AVERAGE CHECKING BALANCE IS $10,000 AMONG THE CHECKING ACCOUNTS. THE TWO MOST POPULAR ACCOUNTS INCLUDE A NO-DIVIDEND, NO MONTHLY FEE ACCOUNT FOR THOSE MEETING CERTAIN CRITERIA (MOST OFTEN DIRECT DEPOSIT) AND A DIVIDEND-BEARING ACCOUNT WHICH REQUIRES AN AVERAGE DAILY BALANCE TO BE FREE OF REGULAR MONTHLY FEES. ALL MEMBERS WITH CHECKING ACCOUNTS HAVE A BASIC SAVINGS, BUT THE SECOND MOST POPULAR ACCT COMBINATION FOR CHECKING ACCT HOLDERS INCLUDES A SAVINGS AND CONSUMER LOAN, FOLLOWED BY A SAVINGS CERTIFICATE ACCT. THE CREDIT UNION UNDERWENT A NAME CHANGE IN SEPTEMBER OF 2018 CHANGING SAN DIEGO METROPOLITAN CREDIT UNION TO WHEELHOUSE CREDIT UNION. IN ADDITION TO THE NAME CHANGE, THE CREDIT UNION INTRODUCED A NEW HOME BANKING PLATFORM AND A NEW MONEY MOVING SERVICE AVAILABLE USING DEBIT CARDS AND ACH. IN OCTOBER OF 2019, WHEELHOUSE CREDIT UNION CONVERTED ITS CORE PROCESSOR FROM FISERV XP2 TO KEYSTONE. THE SERVICE GARNERING LARGE ENROLLMENT IS INTERNET BANKING ENROLLMENT, WHICH ALLOWS MEMBERS TO MANAGE THEIR FINANCIAL ACCOUNTS 24 HOURS A DAY FROM A PERSONAL COMPUTER WITH INTERNET ACCESS. FEATURES OF THIS SERVICE ARE THE ABILITY TO VIEW ACCOUNT BALANCES AND HISTORIES AT ANY TIME, VIEW CHECK IMAGES, AND PERFORM TRANSFERS FROM ONE OF THE MEMBER'S ACCOUNTS TO ANOTHER. THE BREADTH OF TRANSACTIONS PROVIDED TO THE MEMBER VIA THIS PLATFORM PROVIDES AN EFFICIENCY AND CONVENIENCE TO THE MEMBER AND IS LESS COSTLY THAN A BRANCH TRANSACTION. NEW FEATURES TO INTERNET BANKING NOW ALLOW MEMBERS TO MAKE AND/OR SCHEDULE TRANSFERS AND LOAN PAYMENTS FROM INTERNAL AND/OR EXTERNAL SOURCES. ENERGY EFFICIENT/SOLAR LOANS MAKE UP 49% OF THE LOAN PORTFOLIO WITH A PORTFOLIO BALANCE OF $121M AND AN AVERAGE LOAN BALANCE OF $30,000. THESE LOANS ARE GRANTED TO MEMBERS FOR STRUCTURAL IMPROVEMENTS TO THEIR HOMES WHICH MAKE THEM MORE ENERGY EFFICIENT. IMPROVEMENTS INCLUDE SOLAR PANELS, WINDOWS, ROOFING AND AIR CONDITIONING. BY PERFORMING SUCH IMPROVEMENTS TO THEIR HOME, MEMBERS SEE A SIGNIFICANT REDUCTION IN ENERGY EFFICIENT COSTS AS WELL AS RECEIVE A TAX CREDIT FROM THE IRS.DURING 2020, WHEELHOUSE CREDIT UNION WAS PART OF THE PAYMENT PROTECTION LOANS WHICH ARE SBA BACKED LOANS THAT HELPED BUSINESSES KEEP THEIR WORKFORCE EMPLOYED DURING THE COVID-19 CRISIS. THE CREDIT UNION FUNDED 270 LOANS FOR $13.2M. AVERAGE LOAN AMOUNT WAS $49K. ALSO, TO FURTHER ASSIST THE COMMUNITY DURING THE PANDEMIC, THE CREDIT UNION IMPLEMENTED THE WORK REMOTE PROGRAM THAT WAS INSTITUTED FOR MOST BACK OFFICE DEPARTMENTS WHICH PROVIDED SAFE WORK ENVIRONMENTS. 0 0 0 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 3436 0 1 114 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 0 0 CA X X LISA PAUL-HILL CEO 6192785719 PO BOX 719099 SAN DIEGO CA 92171 DAN SOBEL CHAIRPERSON 1.00 X 0 0 0 SHARON FLOYD VICE CHAIRPERSON 1.00 X 0 0 0 STEPHANIE ROSE BOARD SECRETARY AND TREASURER 1.00 X 0 0 0 MARCIA MCLATCHY BOARD MEMBER 1.00 X 0 0 0 MICHAEL AHLERING BOARD MEMBER 1.00 X 0 0 0 D CRUZ GONZALEZ BOARD MEMBER 1.00 X 0 0 0 ROBERT LAWRENCE BOARD MEMBER 1.00 X 0 0 0 MARIO MODIANO BOARD MEMBER 1.00 X 0 0 0 ROBERT WILSON BOARD MEMBER 1.00 X 0 0 0 KAY DUKE SUPV CMTE CHAIRPERSON 1.00 X 0 0 0 SCOTT WAHL SUPV CMTE MEMBER 1.00 X 0 0 0 EDWARD PRENDELL SUPV CMTE MEMBER 1.00 X 0 0 0 HOLLY REED-FALK SUPV CMTE MEMBER 1.00 X 0 0 0 GAIL GLUTTING SUPV CMTE MEMBER 1.00 X 0 0 0 LISA PAUL - HILL CEO 50.00 X 274024 0 32771 LISA CHAN CFO 50.00 X 156366 0 18039 JOHN FRAZZA VP/CLO 50.00 X 187274 0 9337 MICHAEL GLOGOWSKI VP INFORMATION TECH 50.00 X 162626 0 17670 JILL FAUCHER VP MARKETING 50.00 X 160250 0 7974 REBECCA-RAMOS ARZOLA VP HUMAN RESOURCES 50.00 X 158660 0 19271 CURT YASUHARA VP BUSINESS INTELLIGENCE 50.00 X 153701 0 20478 1252901 0 125540 10 0 1 0 LIEN SOLUTIONS 330 NORTH BRAND BOULEVARD GLENDALE CA 91203 FINANCIAL SERVICES 707308 ALKAMI TECHNOLOGY INC 5601 GRANITE PARKWAY SUITE 120 PLANO TX 75024 FINANCIAL SERVICES 380296 BUSINESS DATA INC 321 NORTH OAK ST INGLEWOOD CA 90302 ACCOUNTING 314578 CORELATION INC 2305 HISTORIC DECATUR ROAD SUITE 30 SAN DIEGO CA 92106 FINANCIAL SERVICES 250314 MERIDIAN LINK INC 1600 SUNFLOWER AVE COSTA MESA CA 92626 COMPUTER SOFTWARE 182736 11 INTEREST ON LOANS 522100 11823950 11823950 OTHER OPERATING INCOME 522100 3049209 3049209 FEE INCOME 522100 1356002 1216190 139812 16229161 481890 481890 205 0 205 205 205 PROVISION FOR LOAN & LEASES (CRED 522100 115343 115343 115343 16826599 16686787 139812 0 11000 1252901 5189048 297435 597248 443990 30902 44762 259542 536105 2008877 786523 747229 29110 2055398 1375881 149980 LOAN SERVICING 690587 MISC. OPERATING EXPENSE 183144 OPERATING FEES 41116 16730778 1403655 2128694 62942191 72661271 267834 135863 698041 720810 17832606 10115454 8589322 7717152 10701548 36963908 245241848 250831574 2644627 4901864 332489066 376061136 13515725 20343764 289079166 325480624 302594891 345824388 X 0 0 0 0 29894175 30236748 29894175 30236748 332489066 376061136 95821 246752 0 X X 0 1 X 1 0 2275000 2275000 5696207 2826250 2869957 555154 399254 155900 9049283 6889950 2159333 256962 256962 7717152 ALL OTHER INVESTMENTS 1264808 F NET LOANS AND LEASES 246049276 F NCUA SHARE INSURANCE 2917490 C PAID IN CAPITAL AT CORP 600000 C 250831574 MEMBER'S SHARES AND DEPOSITS 320480624 DRAWS AGAINST LINES OF CREDIT 5000000 325480624 X 16573793 -252806 -252806 16826599 0 16826599 16477972 -252806 -252806 16730778 0 16730778 PART X, LINE 2: 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 WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2020, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION BETWEEN REVENUE AND EXPENSES -252,806. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION BETWEEN REVENUE AND EXPENSES -252,806. 1 SCHOLARSHIPS 11 11000 FMV PART III - SCHOLARSHIPS A COMMITTEE (USUALLY MADE UP OF CEO AND BOARD/SUPERVISORY MEMBERS) REVIEWS THE SUBMISSIONS FROM QUALIFYING APPLICANTS. THE TOP APPLICANTS ARE SELECTED. X 0 0 0 LISA PAUL - HILL CEO 255040 0 0 0 18984 0 13073 0 19698 0 306795 0 0 0 LISA CHAN CFO 155010 0 0 0 1356 0 7915 0 10124 0 174405 0 0 0 JOHN FRAZZA VP/CLO 184796 0 0 0 2478 0 9337 0 0 0 196611 0 0 0 MICHAEL GLOGOWSKI VP INFORMATION TECH 153927 0 0 0 8699 0 8376 0 9294 0 180296 0 0 0 JILL FAUCHER VP MARKETING 159526 0 0 0 724 0 7974 0 0 0 168224 0 0 0 REBECCA-RAMOS ARZOLA VP HUMAN RESOURCES 143168 0 0 0 15492 0 7386 0 11885 0 177931 0 0 0 CURT YASUHARA VP BUSINESS INTELLIGENCE 143335 0 0 0 10366 0 8676 0 11802 0 174179 0 0 0 REBECCA RAMOS-ARZOLA HCE MORTGAGE X 219129 87724 0 0 1 MICHAEL GLOGOWSKI HCE CREDIT CARD X 10000 2513 0 0 1 MICHAEL GLOGOWSKI HCE AUTO X 15572 11391 0 0 1 MICHAEL GLOGOWSKI HCE SOLAR X 22827 19274 0 0 1 REBECCA RAMOS-ARZOLA HCE HELOC X 50000 14961 0 1 1 135863 FORM 990, PART VI, SECTION A, LINE 6 WHEELHOUSE 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. THE CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF WHEELHOUSE 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 IN THE CASE OR MERGER OF DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW BUT NO APPROVAL IS REQUIRED PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C POSSIBLE CONFLICTS OF INTEREST ARE LEARNED THROUGH PERSONAL OBSERVATION OR CONFLICTS WITH OTHER EMPLOYEES AND ARE REPORTED TO THE SUPERVISORY COMMITTEE FOR DECISIONS ON FURTHER INVESTIGATIONS AND REPORTING TO THE BOARD. WE DETERMINE A POSSIBLE CONFLICT BASED ON THE CIRCUMSTANCES AND HOW THEY RELATE TO THE BY-LAWS AND BOARD POLICY STATEMENTS ON CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE VP OF THE HR UTILIZES COMPEASE, A PROGRAM PROVIDED BY KG & ASSOCIATES TO ESTABLISH GRADE LEVELS AND SALARY RANGES. EACH MANAGER IS RESPONSIBLE FOR COMPLETING A JOB EVALUATION WHICH IS A PROCESS UTILIZING GUIDE CHARTS. THE EVALUATION IS ESSENTIALLY A POINT/FACTOR COMPARISON PLAN. EACH JOB IS COMPARED TO OTHER JOBS THROUGH THE USE OF FACTORS COMMON TO ALL POSITION TO DETERMINE THE JOB'S RELATIVE IMPORTANCE. A RANKING OF POSITION IS BUILT FROM LOW TO HIGH BASED ON THE FOLLOWING FACTORS: KNOWLEDGE/SKILLS (EXPERIENCE, EDUCATION, MANAGERIAL RESPONSIBILITY, INTERPERSONAL SKILLS), PROBLEM SOLVING (INDEPENDENT, JUDGMENT, MENTAL PROCESS) AND ACCOUNTABILITY (ORGANIZATIONAL IMPACT, ORGANIZATIONAL RESTRAINT). THE INFORMATION IS THEN ENTERED INTO THE COMPEASE SYSTEM. THIS RESULTS IN TOTAL POINT SCORES WHICH ARE USED TO PLACE JOBS IN SALARY GRADES. THESE RESULTS ARE THEN COMPARED WITH THE RESULTS OF THE CUES EXECUTIVE COMPENSATION SURVEY DATA. ONCE THE SALARY RANGES AND GRADES ARE ESTABLISHED, THE INFORMATION IS GIVEN TO THE CEO AND THE SVP OF FINANCE AND ADMINISTRATION. FORM 990, PART VI, SECTION C, LINE 19 IN ADDITION TO THE PUBLIC ACCESSING THE CREDIT UNION'S QUARTERLY 5300 REPORT THROUGH THE NCUA'S WEBSITE. THE CREDIT UNION POSTS FINANCIAL STATEMENTS ON ITS WEBSITE IN THE "ABOUT US" TAB. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.