2021-11-11T13:33:52-06:00 2020-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1200 MINNEAPOLIS MN 554022526 990 2020-01-01 941484851 CREDIT UNIONS IN THE STATE OF CALIFORNIA SIERRA CENTRAL CREDIT UNION CRED 8002227228 1351 HARTER PKWY YUBA CITY CA 95993 JOHN CASSIDY CEO 8002227228 2021-11-10 1 JOHN CASSIDY 999009999 KACIE MCEWEN P01599614 6123324300 2021-11-10 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z SIERRA CENTRAL CREDIT UNION JOHN CASSIDY 1351 HARTER PKWY YUBA CITY CA 95993 52945093 0 1 X WWW.SIERRACENTRAL.COM X 1955 CA AS YOUR FINANCIAL INSTITUTION: WE PLEDGE TO SERVE YOU AND OUR COMMUNITY FAITHFULLY; WE WILL BE FRIENDLY, HELPFUL AND PROFESSIONAL. WE WILL PROVIDE GREAT PRODUCTS AND COMPETITIVE RATES. 6 6 260 9 121261 0 0 0 48281184 49654600 7099520 3290493 0 0 55380704 52945093 23000 21000 7997429 6317868 15123452 16408210 0 0 0 21194766 20859131 44338647 43606209 11042057 9338884 1138801437 1305531617 1013381576 1170772872 125419861 134758745 AS YOUR FINANCIAL INSTITUTION: WE PLEDGE TO SERVE YOU AND OUR COMMUNITY FAITHFULLY; WE WILL BE FRIENDLY, HELPFUL AND PROFESSIONAL. WE WILL PROVIDE GREAT PRODUCTS AND COMPETITIVE RATES. 0 0 SIERRA CENTRAL CREDIT UNION (SCCU) PROVIDES FINANCIAL SERVICES, INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRA SAVINGS ACCOUNTS AND REGULAR AND IRA CDS TO MEMBER OWNERS. MEMBERS HAVE ACCESS TO OVER 30,000 ATMS, ONLINE BANKING AND DEBIT CARDS. IN 2020 SCCU PROVIDED FINANCIAL SERVICES, SAVINGS AND LOAN ACCOUNTS TO 72,121 MEMBERS AND FUNDED $309.6M IN LOANS. 0 0 1 0 0 0 0 1 0 1 1 0 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 15141 0 1 260 1 1 1 0 0 0 0 0 0 0 X 6 6 1 0 0 0 1 1 1 1 1 0 1 1 1 1 0 0 1 1 1 0 0 CA X STEPHANIE DICKINSON 8002227228 1351 HARTER PKWY YUBA CITY CA 95993 DAN MIERZWA CHAIR 2.00 X X 0 0 0 DEVIN BARBER VICE CHAIR 2.00 X X 0 0 0 DIANE MEYERS SECRETARY/TREASURER 2.00 X X 0 0 0 TIB BELZA DIRECTOR 2.00 X 0 0 0 BALDEV JOHAL DIRECTOR 2.00 X 0 0 0 DIANA LANGLEY DIRECTOR 2.00 X 0 0 0 JOHN CASSIDY CEO 40.00 X 553163 0 39280 RON SWEENEY COO/EVP 40.00 X 544845 0 43136 STEPHANIE DICKINSON CFO 40.00 X 242913 0 47123 STEVE HENDERSON CIO, SVP ISIT & FACILITIES 40.00 X 268076 0 38485 DAVID KELSAY CLO, SVP LENDING 40.00 X 251310 0 39451 DESIREE MANES SVP RETAIL BANKING (UNTIL 10/15/20) 40.00 X 175695 0 21735 PAMELA SWEENEY VP PUBLIC RELATIONS (UNTIL 9/30/20) 40.00 X 157000 0 19701 BARBARA MENEFEE VP OF MARKETING 40.00 X 144755 0 39717 CORINNE DAVIS VP OF HR 40.00 X 158341 0 22377 NICOLE STRAGALAS VP OF TRAINING 40.00 X 142779 0 22458 KATHLEEN STEINER VP ISIT 40.00 X 138971 0 20593 2777848 0 354056 21 0 1 0 FISERV INC 75 REMITTANCE DR 6962 CHICAGO IL 60675 IT SERVICES 2291254 TPX COMMUNICATIONS PO BOX 509013 SAN DIEGO CA 92150 COMMUNICATION SERVICES 555464 QUEST MEDIA PO BOX 430 ROSEVILLE CA 95678 IT SERVICES 476972 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICING 470117 EXPERIAN PO BOX 881971 LOS ANGELES CA 90088 CREDIT SCORING 394035 24 LOAN INTEREST INCOME 522110 40042685 40042685 SERVICE CHARGES & OTHER FEES 522110 7921279 7800018 121261 OTHER NONINTEREST INCOME 522110 1690636 1690636 49654600 3290493 3290493 52945093 49533339 121261 3290493 21000 6317868 2265611 10340488 902824 1902719 996568 204156 255184 33530 90679 423908 4387467 1590017 1835023 130671 5426 3125 2306640 182042 PROVISION FOR LOAN LOSS 3949145 PLASTIC CARD OPERATIONS 2680033 LOAN SERVICING 1448286 1333799 43606209 8456453 17187570 138292107 215983530 12504532 12784634 787314165 809738348 1131486 1041020 64658926 24302865 38284506 40356061 137997666 192940181 14820522 15500273 1138801437 1305531617 11104518 11225721 1111499 1337361 1001165559 1158209790 1013381576 1170772872 X 0 0 0 0 125419861 134758745 125419861 134758745 1138801437 1305531617 9338884 0 X 0 1 X 1 0 22000 22000 22000 1 CA CREDIT UNION LEAGUE PAC PO BOX 51476 ONTARIO CA 917610076 942329967 22000 0 PART I-A, LINE 1: SIERRA CENTRAL CREDIT UNION CONTRIBUTED FINANCIALLY TO THE CALIFORNIA CREDIT UNION LEAGUE'S POLITICAL ACTION COMMITTEE. 1 349356 578622 615886 312092 1 X 11908297 11908297 30290051 7851267 22438784 1209518 1135836 73682 19771899 15012385 4759514 1479161 303377 1175784 40356061 FHLB STOCK 3046800 C CO-OP STOCK 20000 C CUDL STOCK 500000 C FEDERAL AGENCY SECURITIES 114003308 F US TREASURIES 75370073 F 192940181 MEMBER SHARES 1158209790 1158209790 X 52945093 0 52945093 0 52945093 43606209 0 43606209 0 43606209 PART IV, LINE 1B: WE HOLD ESCROW ACCOUNTS FOR LOANS THAT ARE NOT OWNED BY THE CREDIT UNION, BUT ARE SERVICED BY THE CREDIT UNION. PART IV, LINE 2B: THE CREDIT UNION HOLD FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. PART X, LINE 2: FOR THE YEAR ENDED DECEMBER 31, 2020, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 SCHOLARSHIPS TO STUDENTS ATTENDING COLLEGE 21 21000 CASH VALUE N/.A PART I, LINE 2: FUNDS FOR COLLEGE SCHOLARSHIPS ARE SENT DIRECTLY TO THE RECIPIENTS AND THE CREDIT UNION DOES NOT MONITOR THE USE OF THE FUNDS. X X 1 1 X X X 1 1 0 JOHN CASSIDY CEO 467806 0 81793 0 3564 0 19950 0 19330 0 592443 0 0 0 RON SWEENEY COO/EVP 458528 0 83995 0 2322 0 19950 0 23186 0 587981 0 0 0 STEVE HENDERSON CIO, SVP ISIT & FACILITIES 250976 0 0 0 17100 0 19154 0 19330 0 306560 0 0 0 DAVID KELSAY CLO, SVP LENDING 230440 0 0 0 20870 0 18121 0 21330 0 290761 0 0 0 STEPHANIE DICKINSON CFO 227239 0 0 0 15674 0 17799 0 29324 0 290036 0 0 0 DESIREE MANES SVP RETAIL BANKING (UNTIL 10/15/20) 160695 0 0 0 15000 0 12467 0 9268 0 197430 0 0 0 BARBARA MENEFEE VP OF MARKETING 135036 0 0 0 9719 0 10893 0 28824 0 184472 0 0 0 CORINNE DAVIS VP OF HR 147959 0 0 0 10382 0 11313 0 11064 0 180718 0 0 0 PAMELA SWEENEY VP PUBLIC RELATIONS (UNTIL 9/30/20) 95786 0 0 0 61214 0 11178 0 8523 0 176701 0 0 0 NICOLE STRAGALAS VP OF TRAINING 133640 0 0 0 9139 0 11905 0 10553 0 165237 0 0 0 KATHLEEN STEINER VP ISIT 129044 0 0 0 9927 0 9929 0 10664 0 159564 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - TRAVEL FOR COMPANIONS IS ONLY PROVIDED FOR BOARD AND SUPERVISORY COMMITTEE MEMBERS. EXPENSES ARE TRACKED DURING THE YEAR AND FORM 1099 IS FILED IF THE $600 REPORTING THRESHOLD IS MET. SOCIAL CLUB DUES - GOLF CLUB DUES ARE PROVIDED TO SVPS AND ABOVE TO COVER THE COST OF THEIR DUES AT THE LOCAL GOLF CLUB. THIS AMOUNT IS INCLUDED IN THEIR W-2. PART I, LINES 4A-B SPLIT-DOLLAR PLAN: THE CREDIT UNION ENTERED INTO AN AGREEMENT WITH SENIOR EXECUTIVES, JOHN CASSIDY AND RON SWEENEY, WHEREBY THE CREDIT UNION MADE A FULLY SECURED LOAN TO THE EXECUTIVES TO MAKE THE PAYMENTS FOR PREMIUMS ON LIFE INSURANCE POLICIES. THE LOAN IS SECURED BY A PORTION OF THE POLICIES BENEFITS. THE EXECUTIVES ARE THE OWNERS AND BENEFICIARIES OF THE POLICIES. PAM SWEENEY RECEIVED A SEVERANCE PAYMENT JOHN CASSIDY OFFICER OF ORGANIZATION FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICIES X 6275594 6921063 0 1 1 RON SWEENEY OFFICER OF ORGANIZATION FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICIES X 5316725 5863571 0 1 1 12784634 FORM 990, PART VI, SECTION A, LINE 2 RON SWEENEY AND PAMELA SWEENEY - FAMILY RELATIONSHIP 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 A COPY OF FORM 990 WILL BE PROVIDED ELECTRONICALLY TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS CONTRACT WITH AN EXTERNAL CONSULTING COMPANY TO PROVIDE COMPARABLE COMPENSATION DATA FOR LIKE POSITIONS. AFTER DISCUSSION AMONGST BOARD MEMBERS CONDUCTED IN CLOSED SESSION FORMAT THE COMPENSATION PACKAGE, IN CONJUNCTION WITH THE EMPLOYEE CONTRACTS, WERE PRESENTED TO AND ACCEPTED BY THE CEO IN 2007. THE COO'S SALARY IS A PERCENTAGE OF THE CEO'S SALARY. THE PERCENTAGE IS DETERMINED BY THE BOARD AND IS UP TO THEIR DISCRETION. ALL OTHER OFFICERS AND KEY EMPLOYEE SALARIES WERE DETERMINED BY GATHERING COMPARABLE DATA FROM MULTIPLE SOURCES AND ANALYZING IT TO DETERMINE A SALARY. THIS INFORMATION WAS THEN PRESENTED TO JOHN CASSIDY, CEO AND RON SWEENEY, COO AND THEY BOTH APPROVED IT. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED INTERNALLY THROUGH THE ANNUAL APPRAISAL PROCESS, WHICH IS APPROVED BY THE IMMEDIATE SUPERVISOR. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH BRANCH. ALL OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART I, LINE 6: THE 9 VOLUNTEERS CONSIST OF THE 6 BOARD MEMBERS AND 3 SUPERVISORY COMMITTEE MEMBERS.