2025-09-29T20:15:12-05:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 940362026 MEMBERS 1ST CREDIT UNION MEMB 5302226060 4710 MOUNTAIN LAKES BLVD REDDING CA 96003 CAROLINE REDMANN CEO/PRESIDENT 5302226060 2025-09-26 1 0 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z CAROLINE REDMANN 4710 MOUNTAIN LAKES BLVD REDDING CA 96003 17141886 0 X WWW.M1CU.ORG X CREDIT UNION 1936 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 81 14 119033 0 0 0 13294740 14311540 1011377 2586979 449079 178175 14755196 17076694 0 32590 0 0 5383234 5671262 0 0 0 6615848 7991256 11999082 13695108 2756114 3381586 317741113 340724621 289444929 308831882 28296184 31892739 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, MEMBERS 1ST CREDIT UNIONCONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICESOF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 GENERAL SERVICE TO OUR MEMBERS: THE DELIVER CHANNELS INCLUDE FIVE BRANCH LOCATIONS WHERE STAFF ARE FULLY TRAINED AND AVAILABLE TO PROVIDE SERVICES RELATED TO LOAN AND DEPOSIT TRANSACTIONS. ALL BRANCHES INCLUDE ATM ACCESS. A FINANCIAL PLANNER IS AVAILABLE TO ADVISE MEMBERS AT NO CHARGE. THE CREDIT UNION SERVICES APPROXIMATELY 24,000 MEMBERS. THE CORPORATE OFFICE HOUSES A CALL CENTER, WEBSITE STAFF, AND OTHER KEY EMPLOYEES WHOSE JOBS REVOLVE AROUND KEEPING THE CREDIT UNION OPERATIONS SAFE AND SECURE. THE CREDIT UNION STRIVES TO BE GREAT VALUE TO ITS MEMBERS. PRODUCTS ARE COMPETITIVELY PRICED AND MANY TRANSACTIONS CAN BE CONDUCTED ON THE CREDIT UNION'S WEBSITE OR MOBILE APP 24 HOURS PER DAY, 7 DAYS PER WEEK. LENDING PROGRAM: MEMBERS 1ST CREDIT UNION FIRST BEGAN LENDING TO ITS MEMBERS IN 1936. WE HAVE A SUCCESSFUL TRACK RECORD OF HELPING COMMUNITY MEMBERS ESTABLISH CREDIT. WE PROVIDE AUTO, MORTGAGES, PERSONAL LOANS AND CREDIT CARDS OFFERED AT COMPETITIVE RATES. EXPENSES ASSOCIATED WITH LENDING INCLUDE STAFF MEMBERS AND OTHER COST GENERALLY ASSOCIATED WITH OPERATING AN OFFICE. DEPOSIT SERVICES: EXTENDING COMPETITIVE SAVINGS RATES TO OUR MEMBERS ENABLES THE CREDIT UNION TO GROW, REWARD SAVERS, HAVE ACCESSIBLE FUNDS TO LEND TO BORROWERS, AND FULFILL OUR COOPERATIVE MISSION. MULTIPLE TYPES OF INDIVIDUAL RETIREMENT ACCOUNTS ARE OFFERED TO SERVE THE MEMBERSHIP INTO THE FUTURE. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 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 0 0 0 1 3568 0 1 81 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 CAROLINE REDMANN CEOPRESIDENT 5302226060 4710 MOUNTAIN LAKES BLVD REDDING CA 96003 KENNETH REED BOARD CHAIR 1.00 X 0 0 0 SHARON O'QUIN BOARD VICE CHAIR 1.00 X 0 0 0 KARINA LAPP BOARD TREASURER & SECRETARY 1.00 X 0 0 0 AARON MOORE BOARD MEMBER 1.00 X 0 0 0 GRIFFITH TONKIN BOARD MEMBER 1.00 X 0 0 0 JASON MONTAGUE BOARD MEMBER 1.00 X 0 0 0 RILEY BRESLIN BOARD MEMBER 1.00 X 0 0 0 JAMES WILSON BOARD MEMBER 1.00 X 0 0 0 ERIC WOODSTROM BOARD MEMBER 1.00 X 0 0 0 BRYAN FRASER SUPERVISORY COMMITTEE CHAIR 1.00 X 0 0 0 STEVE CLARK SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 BLAKE WERNER SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 AMANDA DEOCAMPO SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 SCOTT BADGER SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 CAROLINE REDMANN CEO/PRESIDENT 40.00 X 373672 0 32200 DEAN BIRGE CFO 40.00 X 270918 0 37604 AARON PITROFF VP OF LENDING 40.00 X 219333 0 23122 NOEL STRATTON VP OF IT 40.00 X 216016 0 8639 JOSHUA MARKLE VP OF MARKETING/HR 40.00 X 211986 0 11375 MEGAN LITTLER VP OF OPERATIIONS 40.00 X 135360 0 6487 MICHAEL HANICH INDIRECT LOAN MANAGER 40.00 X 124385 0 6596 NICOLE EMBURY REGIONAL MANAGER 40.00 X 105287 0 4556 1656957 0 130579 8 0 1 0 COMPUTER MARKETING CORP 8520 SOUTH SANDY PARKWAY SANDY UT 84070 CORE SOFTWARE MAINTENANCE 307181 COOK SECURITY GROUP 2825 CORDELIA RD SUITE 600 FAIRFIELD CA 94534 ATM PURCHASES & REPAIRS/MAINT 158816 DOXIM IDS LLC 1911 WOODSLEE DR TROY MI 48083 MAILING & PRINTING STATEMENTS 138962 3 INTEREST ON LOANS 522100 11091376 11091376 OTHER OPERATING INCOME 522100 2075613 1978935 96678 FEE INCOME 522100 1144551 1122196 22355 14311540 2581284 2581284 139166 65192 73974 73974 73974 5695 0 5695 5695 5695 OTHER NON-INTEREST INC 522100 104201 104201 104201 17076694 16883687 119033 73974 32590 1656957 3141065 151602 335136 386502 98355 110153 286457 1711558 92542 360215 82139 3191308 538817 70814 CREDIT LOSS EXPENSE 617070 LOAN SERVICING EXPENSE 413905 MISCELLANEOUS NON-INTER 374990 OPERATING FEES 42933 13695108 3299105 3324835 19713776 52439645 707779 3077210 3525824 248256606 476876 545779 13165482 6747998 6414447 6417484 30239207 36552790 231821851 5556107 6096413 317741113 340724621 3983357 2777492 285461572 306054390 289444929 308831882 X 0 0 0 0 28296184 31892739 28296184 31892739 317741113 340724621 3381586 214969 0 X X 0 1 X 1 0 2000 2000 2000 1 CCUL - PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 917611249 940357265 2000 1529449 1529449 3358593 1478984 1879609 4724183 2381142 2343041 3419488 2887872 531616 133769 133769 6417484 PAID IN CAPITAL AT CORP 262913 C NET LOANS AND LEASES 228777299 C NCUA SHARE INSURANCE DEPOSIT 2781639 C 231821851 BORROWINGS 1000000 MEMBER SHARES OF ALL TYPES 305054390 306054390 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 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 PERIOD. FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, 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, HOWEVER, 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 BANZAI PO BOX 560352 DENVER CO 802560352 260233660 14790 0 FMV TO PROVIDE LOCAL SCHOOLS WITH THE RESOURCES THAT BANZAI OFFERS. THIS ASSISTS TEACHERS IN TEACHING FINANCIAL LITERACY TO THEIR STUDENTS. CURRENTLY, WE SERVE 12 SCHOOLS AND 45 TEACHERS IN OUR COMMUNITY. CHICO AREA RECREATION & PARK DISTRICT 545 VALLOMBROSA AVENUE CHICO CA 95926 941156263 10650 0 FMV TO HELP ENRICH THE COMMUNITY THROUGH DIVERSE RECREATIONAL OPPORTUNITIES. SHASTA REGIONAL SOCCER ASSOCIATION 9800 OLD OREGON TRAIL REDDING CA 96003 204029805 501(C)(3) 7150 0 FMV TO ASSIST IN CONNECTING THE REDDING COMMUNITY, HELP ENRICH LIVES AND INSPIRE FAMILIES, THROUGH HIGH QUALITY EXPERIENCES. 1 2 X X X 0 1 0 CAROLINE REDMANN CEO/PRESIDENT 240824 0 132848 0 0 0 11172 18672 21028 21028 405872 39700 0 0 DEAN BIRGE CFO 182886 0 11783 0 76249 0 19076 11576 18528 18528 308522 30104 0 0 AARON PITROFF VP OF LENDING 141354 0 9476 0 68503 0 8824 8824 14298 14298 242455 23122 0 0 NOEL STRATTON VP OF IT 132751 0 8380 0 74885 0 8639 8639 0 0 224655 8639 0 0 JOSHUA MARKLE VP OF MARKETING/HR 130277 0 8089 0 73620 0 8589 8589 2786 2786 223361 11375 0 0 PART I, LINE 4B THE CREDIT UNION HAS A SPLIT-DOLLAR AGREEMENT WITH CURRENT CEO/PRESIDENT, CAROLINE REDMANN. THE CREDIT UNION PROVIDES A 457(B) DEFERRED COMPENSATION PLAN FOR CERTAIN KEY EMPLOYEES. THE PARTICIPANTS IN THE 457B PLAN ARE CAROLINE REDMANN, DEAN BIRGE, AARON PITROFF AND JOSHUA MARKLE. CAROLINE REDMANN OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 428571 1285714 0 1 1 MEGAN LITTLER HCE CREDIT CARD X 20000 16674 0 1 1 TERI DAVIS FORMER OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 118952 1263436 0 1 1 MARK MOORE FORMER OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 96000 960000 0 1 1 3525824 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A STATE-CHARTERED CREDIT UNION AND MEMBERSHIP IS MADE UP OF NATURAL PERSONS WHO MAINTAIN A MINIMUM BALANCE IS THE MEMBERSHIP OR SHARE SAVINGS ACCOUNT. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP VOTES AT THE ANNUAL MEETING TO ELECT DIRECTORS TO A THREE-YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B SOME DECISIONS REQUIRE APPROVAL OF THE CREDIT UNION'S MEMBERSHIP, SUCH AS CHANGING CHARTERS BETWEEN STATE AND FEDERAL. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THIS RETURN IS PROVIDED TO THE BOARD OF DIRECTORS AT THEIR MONTHLY MEETING PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES AND VOLUNTEERS ARE TRAINED ANNUALLY ON THE CONFLICT OF INTEREST POLICY. EMPLOYEES AND VOLUNTEERS ARE INSTRUCTED TO DISCLOSE ALL ACCOUNT RELATIONSHIPS THAT THEY HAVE WITH THE CREDIT UNION AND THOSE ACCOUNT ARE FLAGGED IN THE CORE SOFTWARE APPLICATION FOR PERIODIC REVIEW. FORM 990, PART VI, SECTION B, LINE 15 THE INITIAL PERFORMANCE REVIEW OF THE PRESIDENT/CEO IS COMPLETED BY THE PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS UNDER THE DIRECTION OF AN INDEPENDENT THIRD PARTY COMPANY. ONCE COMPLETED IT IS PRESENTED TO THE ENTIRE BOARD OF DIRECTORS FOR APPROVAL WITH A RECOMMENDATION FOR ANY SALARY CHANGES OR BONUS PAYMENT. PERFORMANCE REVIEWS OF OTHER OFFICERS AND KEY EMPLOYEES ARE COMPLETED BY THE PRESIDENT/CEO OR THEIR DIRECT MANAGER. FORM 990, PART VI, SECTION C, LINE 19 THE BY-LAWS ARE FILED WITH THE STATE OF CALIFORNIA AND ARE ACCESSIBLE TO THE PUBLIC. THE CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC VIA A LINK ON THE MEMBERS 1ST CREDIT UNION WEBSITE, AND A MONTHLY FINANCIAL REPORT IS POSTED IN THE LOBBY OF EACH BRANCH, WHILE THE NCUA 5300 CALL REPORT IS AVAILABLE ON THE NCUA WEBSITE. FORM 990,PART XII,LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.