2021-11-05T10:14:48-05:00 2020-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1200 MINNEAPOLIS MN 554022526 990 2020-01-01 941530642 SACRAMENTO CREDIT UNION SACR 9164446070 PO BOX 2351 SACRAMENTO CA 958122351 GLENDA KAISER CFO 9164446070 2021-11-03 1 GLENDA KAISER XXX-XX-XXXX KACIE MCEWEN P01599614 6123324300 2021-11-03 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BHAVNESH MAKIN PO BOX 2351 SACRAMENTO CA 958122351 23578342 0 X WWW.SACTOCU.ORG X 1935 CA TO PROVIDE PROMPT, COMPETITIVE, QUALITY CONSUMER FINANCIAL SERVICES TO OUR MEMBERS. 7 7 129 12 125767 0 0 0 17859186 20161808 4013701 3160871 133100 -50670 22005987 23272009 0 0 1652982 1703334 7135779 8281008 0 0 0 6257608 6443428 15046369 16427770 6959618 6844239 498944488 606462494 422768486 523442253 76176002 83020241 X SACRAMENTO CREDIT UNION'S MISSION IS TO PROVIDE PROMPT, COMPETITIVE, QUALITY CONSUMER FINANCIAL SERVICES TO OUR MEMBERS IN A FRIENDLY, PROFESSIONAL, AND PRUDENT MANNER. 1 0 ESTABLISHED MARCH 18, 1935, SACRAMENTO CREDIT UNION (SCU) IS INCORPORATED UNDER SECTION 14100 OF THE CREDIT UNION DIVISION OF THE STATE OF CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT. SCU IS A FEDERALLY INSURED COMMUNITY CREDIT UNION SERVING 27,024 MEMBERS ACROSS THE FOLLOWING COUNTIES: SACRAMENTO, EL DORADO, PLACER, SOLANO, SUTTER, YOLO, AND YUBA. COMPOSED OF INDIVIDUALS, CORPORATIONS, PARTNERSHIPS, AND OTHER LEGAL ENTITIES, SCU MAINTAINS THE STANDARDS OF A TRADITIONAL MEMBER-OWNED COOPERATIVE WHILE PROVIDING SUPERIOR FINANCIAL SERVICES AT SEVEN LOCATIONS AS WELL AS CONVENIENT PAYMENT OPPORTUNITIES AFFORDED BY ONLINE BANKING, BILL PAY, MOBILE BANKING, POINT-OF-SALE, AND ATM TRANSACTIONS. SCU OFFERS A WIDE RANGE OF COMPETITIVELY PRICED CONSUMER LOAN PRODUCTS TO HELP MEMBERS WITH FINANCING FOR VEHICLES AND FIRST MORTGAGES. FINANCING IS ALSO AVAILABLE IN THE FORM OF SECURED AND UNSECURED LINES OF CREDIT. REGARDING THE LATTER, SCU OFFERS VISA PLATINUM CREDIT CARDS BOTH WITH AND WITHOUT THE POPULAR REWARDS FEATURE. SCU ALSO OFFERS COMMERCIAL REAL ESTATE LOANS AND SBA LOANS. SCU OFFERS A BROAD RANGE OF DEPOSIT PRODUCTS TO ASSIST MEMBERS IN MANAGING CASH FLOW AND SAVING FOR THE FUTURE. INSURED TO AT LEAST $250,000 AND BACKED BY THE FULL FAITH AND CREDIT OF THE FEDERAL GOVERNMENT, SAVINGS OPPORTUNITIES INCLUDE THE FOLLOWING COMPETIVELY PRICED ACCOUNTS: REGULAR, VACATION CLUB, HOLIDAY, IRA, MONEY MARKET, REGULAR AND REWARDS CHECKING, AND CERTIFICATES OF DEPOSIT. SAVINGS IS MADE CONVENIENT VIA DIRECT DEPOSIT OF PAY CHECKS AS WELL AS ANY OTHER RECURRING SOURCE OF CASH INFLOW. THROUGH ONLINE, MOBILE OR TELEPHONE BANKING, MEMBERS CAN EASILY TRANSFER FUNDS BETWEEN SAVINGS ACCOUNTS OR MAKE PAYMENT ON LOANS. ALSO AVAILABLE ARE INVESTMENT SERVICES PROVIDED BY CERTIFIED IN-HOUSE FINANCIAL ADVISORS. 0 0 1 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 8721 0 1 129 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 0 1 1 1 1 1 1 0 0 CA X GLENDA KAISER 9164446070 PO BOX 2351 SACRAMENTO CA 958122351 LES BROWN CHAIR 1.00 X X 0 0 0 WILLIE L SOUTHWARD III VICE CHAIR 1.00 X X 0 0 0 ARON BREWER SECRETARY-TREASURER 1.00 X X 0 0 0 MARY ANN CARRASCO DIRECTOR 1.00 X 0 0 0 LINDA FOSTER-HALL DIRECTOR 1.00 X 0 0 0 JUDY MCGARRY DIRECTOR (SEC/TREAS. THRU FEB) 1.00 X X 0 0 0 KRISTIN VAN GAASBECK DIRECTOR 1.00 X 0 0 0 BHAVNESH MAKIN PRESIDENT/CEO 40.00 X 353008 0 30165 GLENDA KAISER CFO 40.00 X 136234 0 29301 TARIK ELDIN DIRECTOR INVESTMENT SERVICES 40.00 X 667564 0 56647 DERI ROSS MORTGAGE LOAN CONSULTANT 40.00 X 343831 0 44880 MICHAEL HASTINGS FINANCIAL ADVISOR 40.00 X 162463 0 22480 EDWIN MATSUOKA REAL ESTATE MANAGER 40.00 X 130836 0 22290 ALETHA HICKEY VP HUMAN RESOURCES 40.00 X 121117 0 14107 1915053 0 219870 10 0 1 0 MASTER CRAFT BUILDERS 5555 AGUILAR ROAD ROCKLIN CA 95677 CONSTRUCTION CONTRACTOR 612321 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CARD PROCESSOR 376763 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE/MOBILE BANKING PROVIDER 278299 FINASTRA PO BOX 535120 ATLANTA GA 30353 DATA PROCESSING 230380 COOK SECURITY GROUP 9225 NE CASCADES PARKWAY PORTLAND OR 97220 ATM SERVICING 135551 9 NET LOAN PORTFOLIO 522100 11458168 11458168 OTHER INCOME 522100 7283947 7158180 125767 FEE INCOME 522100 1419693 1419693 20161808 3158977 3158977 67125 117795 -50670 -50670 -50670 190432 188538 1894 1894 1894 23272009 20036041 125767 3110201 1703334 552701 6119593 399402 744565 464747 20848 70000 207441 301714 285597 1126969 787007 40398 768544 61878 VISA OPERATIONS 738381 LENDING COLLECTIONS 724921 ATM OPERATIONS 367394 942336 16427770 3351856 3083943 39685218 42344546 45441 607617 3296516 3382279 297546698 307646612 495813 505730 14393605 9272371 4903979 5121234 134622844 223524078 14996123 20246455 498944488 606462494 2541122 4521058 5000000 420227364 513921195 422768486 523442253 X 0 0 0 0 76176002 83020241 76176002 83020241 498944488 606462494 6844239 0 X 0 1 X 1 0 2665 0 2665 2665 1 CCUL PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 999999999 2665 0 PART I-A, LINE 1: SACRAMENTO CREDIT UNION PARTICIPATES IN POLITICAL CAMPAIGN ACTIVITIES SO WE HAVE AN OPPORTUNITY TO PROVIDE INPUT ON LEGISLATION THAT AFFECTS CREDIT UNIONS. 233500 233500 6525418 4462769 2062649 2487092 924634 1562458 4491307 3336224 1155083 656288 548744 107544 5121234 FEDERAL AGENCY SECURITIES 186684183 C FEDERALLY INSURED CDS 34203000 C CUSO & MISCELLANEOUS 2036895 C INVESTMENT IN CORP CREDIT UNIONS 600000 C 223524078 CORE DEPOSITS 190157071 MONEY MARKET 115181525 SHAREDRAFT WITH DIVIDENDS 121402295 SHAREDRAFT WITHOUT DIVIDENDS 38747528 IRA SHARES: ROTH & EDUCATION 718117 IRA SHARES: TRADITIONAL 4217091 IRA CERTIFICATES 5752729 SHARE CERTIFICATES 37744839 513921195 X X X X 0 0 0 TARIK ELDIN DIRECTOR INVESTMENT SERVICES 18530 0 186488 0 462546 0 30165 0 28221 0 725950 0 0 0 DERI ROSS MORTGAGE LOAN CONSULTANT 25255 0 1000 0 317576 0 30165 0 15160 0 389156 0 0 0 BHAVNESH MAKIN PRESIDENT/CEO 295920 0 28450 0 28638 0 30165 0 1987 0 385160 0 0 0 MICHAEL HASTINGS FINANCIAL ADVISOR 22961 0 48216 0 91286 0 15142 0 14077 0 191682 0 0 0 GLENDA KAISER CFO 120715 0 13000 0 2519 0 11679 0 19628 0 167541 0 0 0 EDWIN MATSUOKA REAL ESTATE MANAGER 88477 0 1000 0 41359 0 10549 0 14319 0 155704 0 0 0 BHAVNESH MAKIN OFFICER OF ORGANIZATION SPLIT DOLLAR POLICY LOAN X 3500000 3382279 0 1 1 3382279 FORM 990, PART III, LINE 2 OFFERED SBA PAYCHECK PROTECTION PROGRAM LOANS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO BEFORE IT IS FILED WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C MANAGERS ARE RESPONSIBLE AND HELD ACCOUNTABLE FOR SUPERVISING THE DAILY TRANSACTIONS AND ACTIVITIES PERFORMED WITHIN THEIR RESPECTIVE DEPARTMENTS INCLUDING, BUT NOT LIMITED TO, MONITORING ALL GIFTS AND GRATUITIES RECEIVED BY STAFF FROM VENDORS OR MEMBERS AND MONITORING FOR OUTSIDE EMPLOYMENT BY STAFF THAT COULD POSE A POTENTIAL CONFLICT OF INTEREST. MANAGERS ARE RESPONSIBLE FOR DOCUMENTING ALL SITUATIONS THAT MAY PRESENT A CONFLICT OF INTEREST AND FOR BRINGING TO A VICE PRESIDENT'S ATTENTION ANY AND ALL VIOLATIONS OF POLICY. VICE PRESIDENTS ARE RESPONSIBLE FOR SUPERVISING ALL TRANSACTION AND ACTIVITIES PERFORMED BY MANAGERS. COMPLIANCE WITH POLICY IS ENFORCED THROUGH THE USE OF THE DISCIPLINARY PROCESS FOR FAILURE TO DISCLOSE INFORMATION RELATIVE TO A POTENTIAL CONFLICT OF INTEREST AND FOR ANY AND ALL VIOLATIONS OF POLICY. FORM 990, PART VI, SECTION B, LINE 15A A COMPENSATION BENCHMARKING SYSTEM, COMPEASE, WAS IMPLEMENTED IN NOVEMBER 2017 AND IS USED ANNUALLY TO BENCHMARK OUR SALARIES AGAINST SIMILARLY SITUATED COMPANIES. COMPEASE IS ALSO USED TO ESTABLISH SALARY RANGES FOR ALL POSITIONS. WHEN SETTING OFFICER AND KEY EMPLOYEE COMPENSATION, FACTORS TAKEN INTO CONSIDERATION ARE COMPA RATIO, SUBJECT EXPERTISE, INDUSTRY EXPERIENCE, JOB TENURE AND JOB PERFORMANCE. THE CEO APPROVES ALL SALARY RANGES BASED ON DATA PROVIDED FROM COMPEASE. THE BOARD OF DIRECTORS CONSULTS WITH A THIRD PARTY CONSULTANT TO ESTABLISH THE CEO'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS ARE MADE AVAILABLE TO MEMBERS UPON REQUEST. CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN BRANCH LOBBIES. "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION" THE 2020 FORM 990 DOES NOT ALLOW PDF ATTACHMENTS TO BE INCLUDED WITH THE ELECTRONICALLY FILED FORM 990, WITH THE EXCEPTION OF SPECIFIC ATTACHMENTS REQUIRED BY THE IRS. SACRAMENTO CREDIT UNION HAS AN E-FILE REQUIREMENT AND CANNOT PAPER FILE UNLESS REQUIRED TO DO SO BY THE IRS. IF A PAPER COPY OF THE RETURN IS FILED WHEN IT IS NOT REQUIRED THE IRS MAY CONSIDER THE RETURN AS NOT TIMELY FILED; THEREFORE THE "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION" IS AVAILABLE UPON REQUEST TO THE IRS.