2020-07-15T12:18:33-07:00 2019-12-31 990 2019-01-01 941417215 DOW GREAT WESTERN CREDIT UNION DOWG 9253311010 4041 Lone Tree Way Suite 100 Antioch CA 94531 Paul Kramer CEO 9253311010 2020-07-15 74.95.193.105 2019 2020-09-23 17:36:50Z Paul Kramer 4041 Lone Tree Way Suite 100 Antioch CA 94531 1713924 0 X www.dowcu.org X 1938 CA Provides Thrift Savings & Borrowing for member owned financial institution. The credit union provides one overall activity; that being a financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. The number of members/owners at 12/31/19 was 2124 with 1023 loans totaling $22,665,032 and with 4072 share deposit accounts totaling $39,996,259 7 7 9 8 7390 -7390 0 0 1054133 1180957 573250 494281 0 38686 1627383 1713924 0 0 0 0 587277 641540 0 0 0 860315 970025 1447592 1611565 179791 102359 45208736 45211707 40280443 40181055 4928293 5030652 The credit union provide thrift savings, borrowing and financial services to members of a member owned cooperative financial institution. The credit union provides overall activity; that being financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. Number of members/owners at 12/31/19 was 2124 with 1023 loans totaling $22,665,032 and with 4072 share deposit accounts totaling $39,996,259 0 0 1611565 2250 1713924 Regarding members and the member deposit side of the balance sheet, members loss from 2158 to 2124. And member deposit accounts decreased from 4050 decreased amount to $39,996,259. Dividend Interest paid on these accounts for the year was $133,864. Checking accounts increased from 1152 to 1190. Debit cards and transactions continued to grow, along with transactions on the credit union's atm. Depositing and check cashing services at the member services counter continued to grow. Loan services with 833 loans made for $6,192538 as well as other services around loans, such as offering mechanical breakdown insurance coverage on auto loans. And offering insurance coverage for members if they are disabled and unable to make their payments. Various types of loans, including home loans were offered, including 1st trust and 2nd trust deed and fixed and variable rate loans, home equity lines of credit and credit card loans. 0 0 0 1611565 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 788 0 1 9 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 X Dow Great Western Credit Union 9253311010 4041 Lone Tree Way Suite 100 Antioch CA 94531 Paul Kramer CEO 50 X X X X X 149649 0 13186 John Jacobson Vice Chairperson 4 X 0 0 0 Curtis Tong Secretary 3 X 0 0 0 Steven McAdams Director 2 X 0 0 0 Art Solis Director 2 X 0 0 0 Sally Siemak Director 2 X 0 0 0 Jeff Noyer Director 3 X 0 0 0 David Parks Chairperson 4 X 0 0 0 149649 0 13186 1 0 1 0 FISERV 255 FISERV Drive Brookfield WI 53045 Information Systems 234653 Bluerock Partners LLC 1200 Concord Avenue Suite 200 Concord CA 94520 Leased Office Space 255480 2 0 Member Loan Interest 522100 1005054 1005054 0 0 175903 168513 7390 0 1180957 494281 494281 0 0 0 0 0 0 0 0 0 0 38686 0 0 0 38686 0 38686 38686 0 0 0 0 0 1713924 1706534 7390 0 0 0 0 0 0 0 0 0 149649 149649 0 0 343592 343592 28113 28113 80346 80346 39840 39840 0 0 0 0 0 0 0 0 0 0 54448 54448 67341 67341 94922 94922 272196 272196 0 0 310013 310013 2583 2583 0 0 8648 8648 134106 134106 0 0 12183 12183 18737 18737 Association Memberhip Dues 17053 17053 0 0 Provision for Loan Losses -15561 -15561 0 0 NCUSIF Ins Refund -6644 -6644 0 0 1611565 1611565 0 0 371591 258229 0 0 0 0 51061 30874 0 0 0 0 22333629 22642889 0 0 117519 112274 3699232 1004544 331874 2694688 0 0 21438550 18915359 564512 557394 45208736 45211707 98900 111204 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40181543 40069851 40280443 40181055 X 0 0 0 0 4928293 5030652 4928293 5030652 45208736 45211707 102359 0 0 0 0 0 X 0 1 X 1 0 708541 0 708541 1702585 0 0 1702585 853332 0 581921 271411 434774 0 422623 12151 0 0 0 0 2694688 Credit Union and Bank Certificate Deposits 12681000 C Corporate Credit Union Deposits 3136721 C Investment in Corporate Credit union 68479 C Investment in Credit Union Service Organization 26687 C Investment to Prefund Employee Benefits 3002472 C 18915359 2369 Other Withholding 324 General Ledger Clearing Accounts 70898 Member Share Deposits 39996260 40069851 X 1713924 0 0 0 0 0 1713924 0 0 0 1713924 1611565 0 0 0 0 0 1611565 0 0 0 1611565 Schedule D, Part X, Line 2 FASB ASC 740-10-65, Income taxes provides guidance for how uncertain tax positions should be recognized, measure, disclosed and presented in the financial statements. This requires the evaluation of tax position taken or expected to be taken in course of preparing the credit unions tax returns to determine whether the positions are "more likely-than-not of being sustained "when challenged or "when examined by applicable tax authority. Tax positions not deemed to meet the more-likely-than not threshold would be reported as tax expense and liability in the current year. For year ended June 30, 2019 managements determined that there are no material uncertain tax positions, and accordingly, has no recorded liability for the payment of interest or penalties. State taxes, if applicable are pain on income earned by the credit union in California. The credit union is subject to and pays all state and city taxes on good and services purchased by the credit union. X 0 0 0 Paul Kramer CEO 133649 0 16000 0 0 0 0 0 13186 0 162835 0 Schedule J, Part I, Line 3 The Salary Committee approved the top management compensation review every end of the year. Form 990, Part VI, Section A, Line 6 The credit union is a California-Not-For-Profit Corporation that has member/owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section A, Line 7a The credit union is a California Not-For-Profit Corporation that has member/owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section B, Line 11b The form is prepared by Accounting Manager and reviewed/approve by the CEO. The credit union's regulator and auditor periodically reviewed it. Form 990, Part VI, Section B, Line 12c The credit union has a conflict of Interest Policy and is audited by the outside audit firm and examined by state regulator that reviewed Board of Director's accounts for any improper activity. The Board of Directors are required to disclose any conflicts of interest at the monthly Board of Directors meetings. Also the credit union has an appointed Supervisory Committee that performs various independent audit procedures. Form 990, Part VI, Section B, Line 15 The Board of Directors has approved an Employee Handbook covering compensation policy and has approved a salary scale by employee position, including management. The Board of Directors has appointed CEO salary review committee to review and make compensation recommendations to the Board of Directors, along with other employees salary performed by the CEO. Form 990, Part VI, Section C, Line 19 The credit union makes its Form 990 and any documents required by regulation available upon request. Its most recent Financial Statement are posted monthly in the credit union lobby. Other governing documents are made available on a case to case basis.