2020-11-03T15:17:14-06:00 2019-12-31 KPMG LLP 500 Capitol Mall Suite 2100 Sacramento CA 95814 990 2019-01-01 940362025 THE GOLDEN 1 CREDIT UNION % ALLYSON HILL SVP/CFO GOLD 9167322900 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 ALLYSON HILL SVP-CFO 9167322900 2020-10-29 true MARC HOLLIS P00231474 9164484700 2020-10-08 127.0.0.1 68051020203085000000 2020-11-03 P 30C1023336612D47B5A9EB3719A15785E568262B 3A8A6DE1C1C375DB038E0A26443B2650873FEAB3 2019 2021-04-22 16:20:28Z DONNA A BLAND 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 723476545 false X WWW.GOLDEN1.COM X 1933 CA THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE. 11 10 2313 15 7048842 741491 0 0 315932077 353501067 66071258 73504034 101452890 105325102 483456225 532330203 0 0 0 0 133218889 148795421 0 0 0 256822866 285014557 390041755 433809978 93414470 98520225 12255270007 12993881498 10862192247 11476584280 1393077760 1517297218 THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE TO OUR MEMBERS. THE PURPOSE OF THE CORPORATION IS TO ENGAGE IN CREDIT UNION BUSINESS AND ANY OTHER LAWFUL ACTIVITIES WHICH ARE NOT PROHIBITED TO A CREDIT UNION BY APPLICABLE LAWS OR REGULATIONS. false false GOLDEN 1 OFFERS AN ARRAY OF DEPOSIT PRODUCTS TO OUR MEMBERSHIP, INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRAS AND CERTIFICATES. WHILE EARNING COMPETITIVE DIVIDEND RATES, OUR MEMBERSHIP CAN ACCESS THEIR DEPOSITS THROUGH OUR BRANCH NETWORK, VIA AN ATM, ONLINE OR BY CALLING OUR MEMBER SERVICE CONTACT CENTER. GOLDEN 1 OFFERS AN ARRAY OF COMPETITIVE LOAN OPTIONS TO OUR MEMBERSHIP, INCLUDING NEW AND USED AUTO, FIRST MORTGAGE, HOME EQUITY, CREDIT CARD AND PERSONAL LOANS. GOLDEN 1 STRIVES TO MAINTAIN COMPETITIVE PRICING AND A VARIETY OF LOAN PRODUCTS THAT MEET OUR MEMBER'S BORROWING NEEDS. MEMBERS CAN APPLY FOR LOANS IN A BRANCH, ONLINE, OR AT AN AUTO DEALERSHIP. GOLDEN 1 OFFERS OUR MEMBERS AN ARRAY OF INSURANCE AND INVESTMENT-RELATED PRODUCTS SUCH AS CREDIT LIFE/CREDIT DISABILITY, MECHANICAL BREAKDOWN INSURANCE, GUARANTEED ASSET PROTECTION AND FINANCIAL CONSULTING. false false true false false false false false false true true false false true true true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 462051 0 true 2313 true true true false false false false false false false X 11 10 false false false false true true true true true false true true true true true true true true true true false CA X X ALLYSON HILL SVPCFO 9167322900 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 Donna Bland Board Director and President/C 60.0 0.0 X 797683 0 42276 Tommy Genessy EVP/Service Ops, Security, Tec 60.0 0.0 X 440342 0 43252 Richard Musci EVP/Products and Delivery 60.0 0.0 X 449400 0 29950 Dustin Luton EVP/Finance Risk & Administrat 60.0 0.0 X 411046 0 35747 Greg Brown SVP/Chief Lending Officer 60.0 0.0 X 334285 0 32988 Allyson Hill SVP-CFO 60.0 0.0 X 345861 0 17100 Courtney Linn SVP/General Counsel 60.0 0.0 X 325678 0 25528 Michael Popp SVP/Chief Retail Officer 60.0 0.0 X 293942 0 40656 Chad Carrington SVP - Security, Tech, Infrastr 60.0 0.0 X 298225 0 24845 Kathy Flynn SVP- Service Operations 60.0 0.0 X 286591 0 24910 Joshua Summerhays Financial Consultant 50.0 0.0 X 269632 0 41502 Heather Andrade-Neuman SVP/Chief Human Resources Offi 60.0 0.0 X 285549 0 23674 Douglas Aguiar SVP/Chief Marketing Officer 60.0 0.0 X 271526 0 31010 Paul Sidhu VP - Enterprise Apps & Pymts 50.0 0.0 X 236899 0 38563 Tracey Starback Home Loan External Advisor 50.0 0.0 X 240751 0 28405 Ryan Little VP - Consumer Lending 50.0 0.0 X 221982 0 37174 Terri Bertrand Home Loan External Advisor 50.0 0.0 X 233058 0 21703 Marlen Foster VP - Digital Channel Delivery 50.0 0.0 X 224338 0 28059 Steven Frith Financial Consultant 50.0 0.0 X 217172 0 27742 Walter Anasovitch VP - Coll & Subsvcng Oversight 50.0 0.0 X 207559 0 37104 Joseph Harrison VP - Compliance Officer 50.0 0.0 X 205610 0 31013 Grant Shear VP - Account Servicing Ops 50.0 0.0 X 198179 0 38073 Lew Lemon Financial Consultant 50.0 0.0 X 219881 0 15129 Carolyn Pena VP - Information Technology 50.0 0.0 X 194949 0 36527 Todd Haines VP - Human Resources Admin 50.0 0.0 X 196885 0 29383 Mollyana Mallinson VP - Integrated Solutions 50.0 0.0 X 199042 0 27051 Diana Forti VP - Cards 50.0 0.0 X 192742 0 24934 Joleen Ayers VP - Enterprise Risk Officer 50.0 0.0 X 180940 0 34541 Ryan Kelly VP - Audit Services 50.0 0.0 X 179837 0 29249 John Tennant VP - Member Svc Contact Ctr 50.0 0.0 X 175083 0 28033 Erica Taylor VP - Comm and Community Rltns 50.0 0.0 X 186506 0 13339 Alphonso Cosby VP - Regional Br Chan Deliv 50.0 0.0 X 157683 0 32328 Kyle Long VP - Corporate Strategy 50.0 0.0 X 159402 0 29222 Denise Zboralske VP - Finance 50.0 0.0 X 141461 0 28791 Marissa O'Connor Associate General Counsel 50.0 0.0 X 148124 0 8205 Duane Kirkpatrick Mgr. Secondary Market 50.0 0.0 X 119996 0 6323 Paris Coleman Director, Chair 5.0 0.0 X 0 0 0 James Gomez Director, Vice Chair 5.0 0.0 X 0 0 0 Keri L Thomas Director, Secretary/Treasurer 5.0 0.0 X 0 0 0 Keeley Bosler Director 6.0 0.0 X 0 0 0 P Craig Cornett Director 5.0 0.0 X 0 0 0 Ting Lan Sun Director 5.0 0.0 X 0 0 0 Cassandra Jennings Director 5.0 0.0 X 0 0 0 Samantha Lui Director 5.0 0.0 X 0 0 0 Aeisha Mastagni Director 5.0 0.0 X 0 0 0 Craig Brown Director 5.0 0.0 X 0 0 0 7407023 0 782313 36 true true false Sacramento Kings 660 J Sreet SACRAMENTO CA 95814 Advertising 5503753 DNA BRAND MECHANICS 1301 FIFTH AVENUE SUITE 2600 SEATTLE WA 98101 ADVERTISING 5078091 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 31001-2374 PASADENA CA 911102374 SECURITY SERVICES 1041755 Printing By Design PO Box 103 RESCUE CA 95672 Printing Services 603948 KPMG LLP DEPT 0922 PO BOX 120922 DALLAS TX 753120922 AUDIT & CONSULTING 430740 5 0 INTEREST INCOME - LOANS 522200 353501067 353501067 353501067 70811452 70811452 0 0 0 0 0 193198477 640447 190593931 552411 2604546 88036 2692582 2692582 0 0 0 0 0 0 0 0 0 CHECKING ACCOUNTS FEE INCOME 522100 31344697 31344697 STAR NETWORK FEE INCOME 522100 23390409 23390409 DEBIT CARD INCOME 522100 22550459 22550459 28039537 28039537 105325102 532330203 532330203 7048842 0 0 0 0 10292168 0 102830095 9552104 17349237 8771817 0 -575455 721434 0 0 0 4688221 18070610 14735865 14692991 0 17181131 1072022 0 826793 8221 0 16768467 655590 DISBURSEMENTS TO MEMBERS 82356005 PROVISION FOR LOAN LOSSES 47085368 PRODUCT SERVICES 28179773 ATM EXPENSES 22546496 16001025 433809978 121463144 105543596 0 0 0 0 762374832 1312440031 15854550 16228540 0 0 8750716550 8559655326 0 0 0 0 190971219 111363914 73705070 79607305 0 0 1933048257 2304379439 0 0 0 0 598107604 616027261 12255270007 12993881498 4430116 5959794 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10857762131 11470624486 10862192247 11476584280 X 0 0 0 0 1393077760 1517297218 1393077760 1517297218 12255270007 12993881498 X 98520225 25699233 X false true true false 9500 9500 9500 true CA CREDIT UNION LEAGUE PAC 9500 CLEVELAND AVE SUITE 200 RANCHO CUCAMONGA CA 91730 942329967 9500 FORM 990 SCHEDULE C, PART 1-A, LINE 1 THE GOLDEN 1 CREDIT UNION CONTRIBUTED TO THE CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE (PAC) DURING 2019. 8062932 8062932 56356393 23050107 33306286 126551893 88313806 38238087 79607305 US GOVERNMENT AGENCY OBL.-AFS 2147745692 F US GOVERNMENT AGENCY OBL.-HTM 156633747 C 2304379439 0 REGULAR SHARES 2885209342 SHARE DRAFTS AND MM ACCOUNTS 6157082094 TERM SHARE CERTIFICATES 2295894016 OTHER LIABILITIES 132439034 11470624486 533718700 1388497 1388497 532330203 532330203 433857907 47929 47929 433809978 433809978 FORM 990 In accordance with FASB ASC Subtopic 740-10 - Income Taxes - Overall, the Credit Union recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The amount of unrecognized tax benefits at December 31, 2019 and 2018 was $ 0 and $0 respectively, including interest and penalties. As of December 31, 2019 and 2018, the Credit Union had accrued $0 and $0 respectively, for the interest and penalties related to unrecognized tax benefits. X true true X X X X false true false Donna Bland Board Director and President/C 580078 0 126834 0 90771 0 16800 0 25476 0 839959 0 0 0 Richard Musci EVP/Products and Delivery 319352 0 58762 0 71286 0 16800 0 13150 0 479350 0 0 0 Tommy Genessy EVP/Service Ops, Security, Tec 317805 0 62251 0 60286 0 16800 0 26452 0 483594 0 0 0 Dustin Luton EVP/Finance Risk & Administrat 308083 0 56985 0 45978 0 16800 0 18947 0 446793 0 0 0 Allyson Hill SVP-CFO 251866 0 42367 0 51628 0 16800 0 300 0 362961 0 0 0 Greg Brown SVP/Chief Lending Officer 266940 0 32694 0 34651 0 16800 0 16188 0 367273 0 0 0 Courtney Linn SVP/General Counsel 245473 0 39530 0 40675 0 16800 0 8728 0 351206 0 0 0 Michael Popp SVP/Chief Retail Officer 248314 0 30381 0 15247 0 16500 0 24156 0 334598 0 0 0 Chad Carrington SVP - Security, Tech, Infrastr 226036 0 36252 0 35937 0 16800 0 8045 0 323070 0 0 0 Kathy Flynn SVP- Service Operations 234474 0 37202 0 14915 0 16500 0 8410 0 311501 0 0 0 Heather Andrade-Neumann SVP/Chief Human Resources Offi 229311 0 11631 0 44607 0 16800 0 6874 0 309223 0 0 0 Douglas Aguiar SVP/Chief Marketing Officer 211162 0 32086 0 28278 0 16216 0 14794 0 302536 0 0 0 Denise Zboralske VP - Finance 122437 0 18055 0 969 0 8239 0 20552 0 170252 0 0 0 Marissa O'Connor Associate General Counsel 118926 0 10004 0 19194 0 8205 0 0 0 156329 0 0 0 Duane Kirkpatrick Mgr. Secondary Market 111635 0 5022 0 3339 0 6323 0 0 0 126319 0 0 0 Paul Sidhu VP - Enterprise Apps & Pymts 180473 0 24421 0 32005 0 14256 0 24307 0 275462 0 0 0 Marlen Foster VP - Digital Channel Delivery 182310 0 22372 0 19656 0 14025 0 14034 0 252397 0 0 0 Ryan Little VP - Consumer Lending 189695 0 21791 0 10496 0 13659 0 23515 0 259156 0 0 0 Walter Anasovitch VP - Coll & Subsvcng Oversight 164718 0 20584 0 22257 0 12948 0 24156 0 244663 0 0 0 Joseph Harrison VP - Compliance Officer 171457 0 21066 0 13087 0 12726 0 18287 0 236623 0 0 0 Mollyana Mallinson VP - Integrated Solutions 141435 0 19288 0 38319 0 12178 0 14873 0 226093 0 0 0 Grant Shear VP - Account Servicing Ops 164701 0 13663 0 19815 0 12194 0 25879 0 236252 0 0 0 Todd Haines VP - Human Resources Admin 172878 0 12960 0 11047 0 12143 0 17240 0 226268 0 0 0 Carolyn Pena VP - Information Technology 161322 0 14031 0 19596 0 12478 0 24049 0 231476 0 0 0 Diana Forti VP - Cards 166212 0 18052 0 8478 0 11816 0 13118 0 217676 0 0 0 Erica Taylor VP - Comm and Community Rltns 156435 0 14773 0 15298 0 11205 0 2134 0 199845 0 0 0 Joleen Ayers VP - Enterprise Risk Officer 157454 0 0 0 23486 0 10385 0 24156 0 215481 0 0 0 Ryan Kelly VP - Audit Services 155191 0 16886 0 7760 0 10002 0 19247 0 209086 0 0 0 John Tennant VP - Member Svc Contact Ctr 135121 0 14851 0 25111 0 11159 0 16874 0 203116 0 0 0 Kyle Long VP - Corporate Strategy 136580 0 16510 0 6312 0 10071 0 19151 0 188624 0 0 0 Alphonso Cosby VP - Regional Br Chan Deliv 138486 0 5990 0 13207 0 9784 0 22544 0 190011 0 0 0 Joshua Summerhays Financial Consultant 32570 0 226293 0 10769 0 16500 0 25002 0 311134 0 0 0 Tracey Starback Home Loan External Advisor 14294 0 219149 0 7308 0 14589 0 13816 0 269156 0 0 0 Terri Bertrand Home Loan External Advisor 6356 0 203602 0 23100 0 13850 0 7853 0 254761 0 0 0 Lew Lemon Financial Consultant 23860 0 168737 0 27284 0 13091 0 2038 0 235010 0 0 0 Steven Frith Financial Consultant 37788 0 168994 0 10390 0 13106 0 14636 0 244914 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A THE CREDIT UNION WILL REIMBURSE A DIRECTOR FOR REASONABLE ACTUAL EXPENSES INCURRED IN CONNECTION WITH ATTENDING APPROVED CONFERENCES, SEMINARS, AND OTHER BUSINESS FUNCTIONS. REIMBURSEMENT MAY INCLUDE EXPENSES FOR ONE IMMEDIATE FAMILY MEMBER TO FACILITATE TRAVEL TO AND FROM SUCH EVENT PER GOLDEN 1'S BOARD TRAVEL POLICY. FORM 990, SCHEDULE J, PART I, LINE 4B DONNA BLAND, PRESIDENT AND CEO, AND THE THREE EXECUTIVE VICE PRESIDENTS PARTICIPATE IN A SPLIT DOLLAR LIFE INSURANCE PLAN AS APPROVED BY THE BOARD OF DIRECTORS. Donna Bland CEO Split Dollar Loan X 6752218 7192657 false true true Richard Musci EVP Split Dollar Loan X 1933000 2030146 false true true Tom Genessy EVP Split Dollar Loan X 3860500 4054516 false true true Dustin Luton EVP Split Dollar Loan X 2810000 2951221 false true true 16228540 FORM 990, PART VI, LINE 7A The Golden 1 Credit Union members have the right to vote for the election of Directors. The Golden 1 has one class of members that shall be restricted to the persons and organizations having specific affiliations or identifying characteristics established by the Board of Directors in our Field of Membership. The Golden 1's Field of Membership includes persons who live and/or regularly work in one of our regulatory-permissible community charter counties and employees and immediate family members of our regulatory-permissible organizations. FORM 990, PART VI, LINE 7B THE GOLDEN 1 CREDIT UNION MEMBERS, BY A TWO-THIRDS (2/3) VOTE, SHALL HAVE THE POWER TO REVIEW THE ACTS AND REVERSE THE DECISIONS OF THE BOARD OF DIRECTORS OF THIS CREDIT UNION. FORM 990, PART VI, LINE 11A/11B A committee of the Golden 1 Board of Directors was designated to review the Form 990, in advance of the October 29, 2020 Golden 1 Board Meeting. The committee of Board members approved the 2019 Form 990 on October 21, 2020. Copies of the 2019 Form 990 were provided to the full Golden 1 Board in advance of the filing. FORM 990, PART VI, LINE 12C In accordance with Board Policy, The Golden 1 requires all elected officials, committee members, officers, managers and other key employees designated by the Chief Executive Office to receive, complete, and sign an annual Statement of Disclosure Form. The Statement of Disclosure asks a series of questions pertaining to potential conflicts of interest. The Golden 1 Administration Department coordinates the distribution, collection and exception review of the completed statements. Golden 1's Internal Audit Department performs an annual audit of the Statement of Disclosures to ensure compliance with Board Policy, timeliness of the process and appropriate review of completed statements. On an annual basis, the Board also reviews and approves the related Board Policy and Statement of Disclosure Form. FORM 990, PART VI, LINE 15A/15B Officers of The Golden 1 Credit Union include the Chief Executive Officer (CEO), EXECUTIVE VICE PRESIDENT (EVPS), and Senior Vice Presidents (SVPs). The compensation review process for Officers is as follows: CEO COMPENSATION: A committee consisting of four members from the Board of Directors (called the CEO Compensation Committee) is formed each year to review CEO Compensation. The Chairman of this Committee directs the SVP/Chief Human Resources Officer to provide pay trend information for review and consideration taking into consideration asset size, business scope, and overall complexity of the operations. Similar industry and banking surveys are used for comparison purposes. The results, which are provided to the Committee, compares benchmark base pay, incentive pay, and total compensation to Golden 1's current CEO compensation package. After review and consideration, the Committee provides a recommendation to the full Board of Directors for approval. THE DECISION IS DOCUMENTED CONTEMPOARENOUSLY AND MAINTAINED IN HUMAN RESOURCES. SVP COMPENSATION: A similar analysis is performed for the SVPs as requested by the President & CEO. Similar industry and banking surveys are used as referenced above. An overall competitive analysis is performed by the SVP/Chief Human Resources Officer and the results and supporting documentation are presented to the CEO. FORM 990, PART VI, LINE 19 The Golden 1 Credit Union's Form 990 will be available on GuideStar.org for public inspection. The Golden 1 Credit Union's quarterly National Credit Union Administration (NCUA) Call 5300 Report contains financial and statistical data. This regulatory report is available for public inspection online at NCUA.gov. Golden 1's Annual Report is publically available on our website at golden1.com. Golden 1 members may request copies of financial statements by calling our Member Service Contact Center. FORM 990, PART VI, LINE 6 The Golden 1 Credit Union provides financial services for its regulatory-permissible field of membership. FORM 990, PART IV, LINE 26 Loans from the credit union to interested persons were made on the same terms as offered to other members of the credit union. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCE: CHANGE IN OTHER COMPREHENSIVE LOSS 24,310,736 UNREALIZED GAINS ON INVESTMENTS 1,388,497 ------------- TOTAL 25,699,233 =============