2020-11-12T18:14:05-06:00 2019-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2019-01-01 941521987 MERIWEST CREDIT UNION MERI 4089725222 5615 CHESBRO AVENUE SAN JOSE CA 95123 BRIAN HENNESSEY CFO 4089725222 2020-11-10 1 VALENTINO CREUS CPA P01054153 8189549700 108.95.190.209 2020-11-10 08:45:11 PS P CEFC9F3E0A6DCC685B364005133C18EB560DB533 048EE652F0479155537D3ADFC76134B616B923FF 2019 2021-04-22 16:20:28Z JULIE KIRSCH 5615 CHESBRO AVENUE SAN JOSE CA 95123 89107331 0 X WWW.MERIWEST.COM X CREDIT UNION 1961 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 246 12 122255 25389 0 0 60542378 67154856 6412438 6218876 427935 160077 67382751 73533809 13000 17800 0 0 27137004 29060000 0 0 0 27945741 30331530 55095745 59409330 12287006 14124479 1617798786 1678537853 1494092360 1552526714 123706426 126011139 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS 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, MERIWEST CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 MERIWEST CREDIT UNION PROVIDED MEMBERS 1,036 REAL ESTATE BASE LOANS TOTALING $541 MILLION IN 2019. MERIWEST CREDIT UNION PROVIDED MEMBERS 24,321 CONSUMER LOANS TOTALING $385 MILLION IN 2019. MERIWEST CREDIT UNION OFFERED LOANS, DEPOSITS AND OTHER SERVICES TO 85,868 MEMBERS IN 2019. 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 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 18869 0 1 246 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 0 0 1 1 1 0 CA X X BRIAN HENNESSEY CFO 4083633200 5615 CHESBRO AVENUE SAN JOSE CA 95123 DR ARTHUR L JUE CHAIRPERSON 2.00 X 0 0 0 SCOTT TIMPE VICE CHAIRMAN 2.00 X 965 0 0 KARL NIGG TREASURER 2.00 X 2443 0 0 LAUREN BURCH SECRETARY 2.00 X 0 0 0 CHARLES MUNCH BOARD MEMBER 2.00 X 840 0 0 EDWIN MACH BOARD MEMBER 2.00 X 0 0 0 HARSHA VYAS BOARD MEMBER 2.00 X 0 0 0 UDEY CHAUDRHY BOARD MEMBER 2.00 X 0 0 0 STANLEY CHAPMAN BOARD MEMBER 2.00 X 0 0 0 PHILIP FLUEGEMANN SUPV CMTE CHAIRPERSON 2.00 X 0 0 0 JAMES M HICKS SUPV CMTE MEMBER 2.00 X 0 0 0 STEVE GOVEIA SUPV CMTE MEMBER 2.00 X 0 0 0 JULIE ANN KIRSCH CEO 40.00 X 846492 0 2224 BRIAN HENNESSEY SVP, CFO 40.00 X 362032 0 62872 MARK DAVID ANTONIOLI SVP, CHIEF CREDIT OFFICER 40.00 X 572870 0 13095 ANTHONY JOSE CORTEZ SVP, CXO 40.00 X 274994 0 67806 LISA MARIE PESTA SVP, CHIEF HR & COO 40.00 X 271313 0 75920 LINA ESTHER HESS VP INFORMATIONAL TECHNOLOGY 40.00 X 249969 0 18042 JIHONG HUANG VP TREASURY & FINANCE 40.00 X 224751 0 26906 MARY ELLEN SNIDER VP COMPLIANCE AND OPERATIONAL RISK 40.00 X 180574 0 10708 ROBERT WESLEY ROGERS VICE PRESIDENT BUSINESS BANKING 40.00 X 199223 0 16742 ERNESTO SEGOVIA AVP NETWORK OPERATIONS 40.00 X 199084 0 24026 GENNADY FICHTENHOLZ VP DIGITAL STRATEGY AND ENGAGEMENT 40.00 X 181569 0 26506 AMJAD ELIAS VICE PRESIDENT RETAIL DELIVERY 40.00 X 170512 0 22986 LISA G ROMANO CONTROLLER 40.00 X 166323 0 10408 3903954 0 378241 41 0 1 0 JACK HENRY & ASSOCIATES INC 663 W HWY 60 MONETT MO 65708 IT SERVICES 1474253 FINANCIAL SUPERMARKETS INC 383 CLARKESVILLE STREET CORNELIA GA 30531 FINANCIAL SERVICES 1195757 FTSI 406 HUNTINGTON DRIVE MONROVIA CA 91016 ATM SERVICES 482477 BAY AREA NEWS GROUP 4 NORTH SECOND STREET SUITE 800 SAN JOSE CA 95113 MARKETING 410709 INFOIMAGE INC 141 JEFFERSON DRIVE MENLO PARK CA 94025 FINANCIAL TECHNOLOGY 320535 28 INTEREST ON LOANS 522100 55477582 55411774 65808 OTHER OPERATING INCOME 522100 7309498 7294414 15084 FEE INCOME 522100 4367776 4326413 41363 67154856 6101030 6101030 15403503 287865 15406000 167522 -2497 120343 117846 117846 OTHER NON-OPERATING RE 522100 160077 160077 160077 73533809 73411554 122255 0 15250 2550 3903954 17656406 3012760 2984664 1502216 148385 151093 949062 1298736 6207558 535539 1987883 396303 13219511 1381259 329220 LOAN SERVICING EXPENSE 1336172 PROVISION FOR LOAN AND 1266681 MISC OPERATING EXPENSE 940725 OPERATING FEES 183403 59409330 5434368 7194312 23113769 39081205 3375703 2895639 7930614 3627709 27155129 19783953 6857093 7371176 191811672 192768636 1351086121 1397789380 2111000 28189446 25698796 1617798786 1678537853 11015886 23494737 1483076474 1529031977 1494092360 1552526714 X 0 0 0 0 123706426 126011139 123706426 126011139 1617798786 1678537853 X 14124479 2661790 -14481556 X X 0 1 X 1 0 1843986 1843986 5252697 4171065 1081632 11602015 8644939 2957076 8456431 6967949 1488482 7371176 ALL OTHER INVESTMENTS 8447217 F TOTAL LOANS AND LEASES 1321861691 F NCUA INSURANCE DEPOSIT 10836000 C DEPOSITS IN COMMERCIAL BANKS 45111000 C LOANS HELD FOR SALE 11533472 F 1397789380 TOTAL SHARES AND DEPOSITS 1328141569 PROMISSORY NOTES & INTEREST PAYABLE 200682364 ACCRUED DIVIDENDS AND INTEREST PAYABLE ON SHARES AND DEPOSITS 208044 1529031977 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 CONSOLIDATED 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 WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED SEPTEMBER 30, 2019, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 EVERFI INC PO BOX 200034 PITTSBURGH PA 152510034 261818856 8000 FMV PROVIDE FINANCIAL SUPPORT FOR FINANCIAL LITERACY EDUCATION FOR STUDENTS 0 1 X 1 1 X X X 0 1 0 JULIE ANN KIRSCH CEO 563040 0 253511 0 29941 0 0 0 2224 0 848716 0 0 0 BRIAN HENNESSEY SVP, CFO 302592 0 53500 0 5940 0 51064 0 11808 0 424904 0 0 0 MARK DAVID ANTONIOLI SVP, CHIEF CREDIT OFFICER 162530 0 67000 0 343340 0 0 0 13095 0 585965 0 0 0 ANTHONY JOSE CORTEZ SVP, CXO 229380 0 40500 0 5114 0 51064 0 16742 0 342800 0 0 0 LISA MARIE PESTA SVP, CHIEF HR & COO 227260 0 40700 0 3353 0 51064 0 24856 0 347233 0 0 0 LINA ESTHER HESS VP INFORMATIONAL TECHNOLOGY 212196 0 33000 0 4773 0 0 0 18042 0 268011 0 0 0 JIHONG HUANG VP TREASURY & FINANCE 193755 0 30000 0 996 0 0 0 26906 0 251657 0 0 0 MARY ELLEN SNIDER VP COMPLIANCE AND OPERATIONAL RISK 161045 0 16000 0 3529 0 0 0 10708 0 191282 0 0 0 ROBERT WESLEY ROGERS VICE PRESIDENT BUSINESS BANKING 167826 0 20000 0 11397 0 0 0 16742 0 215965 0 0 0 ERNESTO SEGOVIA AVP NETWORK OPERATIONS 185119 0 8677 0 5288 0 0 0 24026 0 223110 0 0 0 GENNADY FICHTENHOLZ VP DIGITAL STRATEGY AND ENGAGEMENT 180152 0 0 0 1417 0 0 0 26506 0 208075 0 0 0 AMJAD ELIAS VICE PRESIDENT RETAIL DELIVERY 153798 0 15545 0 1169 0 0 0 22986 0 193498 0 0 0 LISA G ROMANO CONTROLLER 156928 0 7182 0 2213 0 0 0 10408 0 176731 0 0 0 PART I, LINE 4B THE CREDIT UNION OFFERS A SERP TO ITS SENIOR MANAGEMENT TEAM. THE PLAN PROVIDES FOR THE PAYMENT OF $300,000 TO EACH PERSON AT DATES CERTAIN WITH CLIFF VESTING. THE PLAN IS FUNDED BY A COLI CONTRACT PURCHASED FOR THE BENEFIT OF THE CREDIT UNION. THE PARTICIPANTS IN THE PLAN ARE BRIAN HENNESSEY, LISA PESTA AND ANTHONY CORTEZ. JULIE KIRSCH OFFICER FIRST MORTGAGE X 845000 154126 0 1 1 MARK ANTONIOLI OFFICER FIRST MORTGAGE X 417000 343269 0 1 1 ANTHONY CORTEZ OFFICER FIRST MORTGAGE X 668000 546568 0 1 1 LINA HESS KEY EMPLOYEE FIRST MORTGAGE X 588500 465488 0 1 1 LISA PESTA OFFICER FIRST MORTGAGE X 456000 394247 0 1 1 JIHONG HUANG KEY EMPLOYEE FIRST MORTGAGE X 1000000 991941 0 1 1 2895639 FORM 990, PART VI, SECTION A, LINE 2 DIRECTOR SCOTT TIMPE IS THE SON-IN-LAW OF DIRECTOR KARL NIGG. FORM 990, PART VI, SECTION A, LINE 6 MERIWEST CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. MERIWEST CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF MERIWEST CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS MADE AVAILABLE TO THE ORGANIZATION'S GOVERNING BODY FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15 THE COMPANY HAS PURCHASED AN ANNUAL SUBSCRIPTION TO A COMPENSATION PROGRAM CALLED BALANCED COMP. THIS MANAGES ALL OUR SALARIES. IN ADDITION HR PARTICIPATES IN 3-4 CREDIT UNION SALARY SURVEYS FOR EXECUTIVES. THIS INFORMATION IS ALSO PROVIDED TO THE PERSONNEL PRACTICES COMMITTEE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION FINANCIAL CENTERS MONTHLY. THE CONFLICT OF INTEREST POLICY IS POSTED ON THE CREDIT UNION WEBSITE ANNUALLY IN THE NOMINATION PACKET. THE ANNUAL REPORT IS PUBLISHED ON THE CREDIT UNION WEBSITE AND IT CONTAINS ANNUAL FINANCIAL STATEMENTS AS WELL. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST PROVIDED THERE IS NO RULE OR REGULATION GOVERNING PROHIBITION OF GIVING OUT THE INFORMATION. FORM 990, PART XI, LINE 9: CHANGE IN OCI -14,481,556. FORM 990, PART XI, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION MERIWEST CREDIT UNION 5615 CHESBRO AVENUE SAN JOSE, CA 95123 TAXPAYER IDENTIFICATION NUMBER: 94-1521987 FOR THE YEAR ENDING DECEMBER 31, 2019. MERIWEST CREDIT UNION IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC.1.263(A)-1(F). MERIWEST MORTGAGE COMPANY LLC 5615 CHESBRO AVE SUITE 120 SAN JOSE CA 951233046 470847322 FINANCIAL PRODUCTS, MORTGAGE CA 6795415 28499595 MERIWEST CREDIT UNION MERIWEST WEALTH ADVISORS LLC 5615 CHESBRO AVE SUITE 120 SAN JOSE CA 951233046 811392554 FINANCIAL PRODUCTS CA 1008880 3515126 MERIWEST CREDIT UNION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 MERIWEST MORTGAGE COMPANY LLC P 1102956 ACTUAL AMOUNT PAID MERIWEST MORTGAGE COMPANY LLC Q 65337 ACTUAL AMOUNT PAID MERIWEST WEALTH ADVISORS LLC Q 383449 ACTUAL AMOUNT PAID MERIWEST MORTGAGE COMPANY LLC A 47184 ACTUAL AMOUNT PAID MERIWEST WEALTH ADVISORS LLC A 3000 ACTUAL AMOUNT PAID