2020-11-16T19:54:50-06:00 2019-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1100 MINNEAPOLIS MN 554022526 990 2019-01-01 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 2020-11-16 1 KACIE MCEWEN P01599614 6123324300 2020-11-16 68.47.31.197 2020-11-16 12:36:45 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 03529DF6567CFB0D20C3C8C4F0F8DA9C5BDC3671 2019 2021-04-22 16:20:28Z SIERRA CENTRAL CREDIT UNION JOHN CASSIDY 1351 HARTER PKWY YUBA CITY CA 95993 55380704 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 6 257 10 107992 -65029 0 0 44546769 48281184 4053425 7099520 0 0 48600194 55380704 22000 23000 5368890 7997429 12871506 15123452 0 0 0 20605709 21194766 38868105 44338647 9732089 11042057 1115563517 1138801437 1001185713 1013381576 114377804 125419861 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 2019 SCCU PROVIDED FINANCIAL SERVICES, SAVINGS AND LOAN ACCOUNTS TO 70,067 MEMBERS AND FUNDED $302.5M 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 17376 0 1 257 1 1 1 0 0 0 0 0 0 0 X 6 6 0 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 JOHN CASSIDY CEO 40.00 X 536449 0 40539 RON SWEENEY COO/EVP 40.00 X 511039 0 42339 STEVE HENDERSON CIO, SVP ISIT & FACILITIES 40.00 X 264095 0 39711 STEPHANIE DICKINSON CFO 40.00 X 250116 0 49045 DAVID KELSAY CLO, SVP LENDING 40.00 X 251348 0 39771 DESIREE MANES SVP RETAIL BANKING 40.00 X 222139 0 28662 GENE MARCUCCI VP OF COMMERCIAL LENDING 40.00 X 177014 0 16585 BARBARA MENEFEE VP OF MARKETING 40.00 X 141299 0 39259 CORINNE DAVIS VP OF HR 40.00 X 153759 0 23012 DAVID BUMPUS BUSINESS DEVELOPMENT MANAGER 40.00 X 130960 0 29854 TERRI GARCIA VP OF AUDIT/COMPLIANCE 40.00 X 134085 0 14859 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 RON BARTOLI DIRECTOR 2.00 X 0 0 0 TIB BELZA DIRECTOR 2.00 X 0 0 0 BALDEV JOHAL DIRECTOR 2.00 X 0 0 0 DAVID MACHOWIAK DIRECTOR 2.00 X 0 0 0 2772303 0 363636 22 0 1 0 FISERV INC 75 REMITTANCE DR 6962 CHICAGO IL 60675 IT SERVICES 2444749 HILBERS INC 770 N WALTON AVE 100 YUBA CITY CA 95993 CONTRUCTION 1803230 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICING 503344 EXPERIAN PO BOX 881971 LOS ANGELES CA 90088 CREDIT SCORING 464084 INFOIMAGE 141 JEFFERSON DR MENLO PARK CA 94025 STATEMENT PROCESSING 382306 19 LOAN INTEREST INCOME 522110 38319689 38319689 SERVICE CHARGES & OTHER FEES 522110 8712285 8604293 107992 OTHER NONINTEREST INCOME 522110 1249210 1249210 48281184 7099520 7099520 55380704 48173192 107992 7099520 23000 7997429 2275252 9468929 790341 1631405 957525 229643 149100 33402 84858 649989 3730721 1741017 1626703 269755 21913 5722 2151931 195035 PROVISION FOR LOAN LOSS 5488414 PLASTIC CARD OPERATIONS 2519286 LOAN SERVICING 1273546 1023731 44338647 7596368 8456453 221239618 138292107 12230570 12504532 737714273 787314165 844413 1131486 60337891 22053385 35870374 38284506 87005998 137997666 13061903 14820522 1115563517 1138801437 10714339 11104518 1599986 1111499 988871388 1001165559 1001185713 1013381576 X 0 0 0 0 114377804 125419861 114377804 125419861 1115563517 1138801437 11042057 0 X 0 1 X 1 0 17500 17500 17500 1 CA CREDIT UNION LEAGUE PAC PO BOX 51476 ONTARIO CA 917610076 942329967 17000 0 JAMES GALLAGHER FOR ASSEMBLY 1017 L STREET 131 SACRAMENTO CA 95814 814491439 500 0 PART I-A, LINE 1: SIERRA CENTRAL CREDIT UNION CONTRIBUTED FINANCIALLY TO THE CALIFORNIA CREDIT UNION LEAGUE'S POLITICAL ACTION COMMITTEE. 1 466145 2889488 3006277 349356 1 X 11290122 11290122 26248971 7089086 19159885 1209518 1125496 84022 17951169 13597637 4353532 3638111 241166 3396945 38284506 FHLB STOCK 2266000 C CO-OP STOCK 20000 C CUDL STOCK 500000 C FEDERAL AGENCY SECURITIES 50182092 F US TREASURIES 85029574 F 137997666 MEMBER SHARES 1001165559 1001165559 X 55380704 0 55380704 0 55380704 44338647 0 44338647 0 44338647 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, 2019, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 SCHOLARSHIPS TO STUDENTS ATTENDING COLLEGE 23 23000 0 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 0 1 0 JOHN CASSIDY CEO 454601 0 78284 0 3564 0 22400 0 18139 0 576988 0 0 0 RON SWEENEY COO/EVP 428962 0 79755 0 2322 0 22400 0 19939 0 553378 0 0 0 STEVE HENDERSON CIO, SVP ISIT & FACILITIES 232075 0 0 0 32020 0 21572 0 18139 0 303806 0 0 0 STEPHANIE DICKINSON CFO 219688 0 0 0 30428 0 20958 0 28087 0 299161 0 0 0 DAVID KELSAY CLO, SVP LENDING 218438 0 0 0 32910 0 20632 0 19139 0 291119 0 0 0 DESIREE MANES SVP RETAIL BANKING 189847 0 0 0 32292 0 18014 0 10648 0 250801 0 0 0 GENE MARCUCCI VP OF COMMERCIAL LENDING 160718 0 0 0 16296 0 7336 0 9249 0 193599 0 0 0 BARBARA MENEFEE VP OF MARKETING 131429 0 0 0 9870 0 12172 0 27087 0 180558 0 0 0 CORINNE DAVIS VP OF HR 142720 0 0 0 11039 0 12563 0 10449 0 176771 0 0 0 DAVID BUMPUS BUSINESS DEVELOPMENT MANAGER 127876 0 0 0 3084 0 10966 0 18888 0 160814 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, LINE 4B 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. JOHN CASSIDY OFFICER OF ORGANIZATION FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICIES X 6275594 6769428 0 1 1 RON SWEENEY OFFICER OF ORGANIZATION FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICIES X 5316725 5735104 0 1 1 12504532 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 10 VOLUNTEERS CONSIST OF THE 7 BOARD MEMBERS AND 3 SUPERVISORY COMMITTEE MEMBERS.