2025-08-22T07:26:26-05:00 2024-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2024-01-01 941530642 SACRAMENTO CREDIT UNION SACR 9164446070 PO BOX 2351 SACRAMENTO CA 958122351 GLENDA KAISER CFO 9164446070 2025-08-22 1 1 JENIFER L CHASE P01306883 5638884000 2025-08-22 2024 2025-03-06 01:10:19Z BHAVNESH MAKIN PO BOX 2351 SACRAMENTO CA 958122351 39690538 0 X WWW.SACTOCU.ORG X 1935 CA TO PROVIDE PROMPT, COMPETITIVE, QUALITY CONSUMER FINANCIAL SERVICES TO OUR MEMBERS. 7 7 124 12 4176641 0 0 0 22860181 27790325 6322980 11522572 33192 21469 29216353 39334366 0 0 0 0 8976275 9971112 0 0 0 13247280 19893965 22223555 29865077 6992798 9469289 806115615 760065390 704779043 649597935 101336572 110467455 SACRAMENTO CREDIT UNION'S MISSION IS TO PROVIDE PROMPT, COMPETITIVE, QUALITY CONSUMER FINANCIAL SERVICES TO OUR MEMBERS IN A FRIENDLY, PROFESSIONAL, AND PRUDENT MANNER. 0 0 ESTABLISHED MARCH 18, 1935, SACRAMENTO CREDIT UNION (THE CREDIT UNION) IS INCORPORATED UNDER SECTION 14100 OF THE CREDIT UNION DIVISION OF THE STATE OF CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT. THE CREDIT UNION IS A FEDERALLY INSURED COMMUNITY CREDIT UNION SERVING 28,838 MEMBERS ACROSS THE FOLLOWING COUNTIES: SACRAMENTO, EL DORADO, PLACER, SOLANO, SUTTER, YOLO, AND YUBA. COMPOSED OF INDIVIDUALS, CORPORATIONS, PARTNERSHIPS, AND OTHER LEGAL ENTITIES, THE CREDIT UNION MAINTAINS THE STANDARDS OF A TRADITIONAL MEMBER-OWNED COOPERATIVE WHILE PROVIDING SUPERIOR FINANCIAL SERVICES AT SEVEN LOCATIONS AS WELL AS CONVENIENT PAYMENT OPPORTUNITIES AFFORDED BY ONLINE BANKING, BILL PAY, MOBILE BANKING, POINT-OF-SALE, AND ATM TRANSACTIONS. SACRAMENTO CREDIT UNION (THE CREDIT UNION) OFFERS A WIDE RANGE OF COMPETITIVELY PRICED CONSUMER LOAN PRODUCTS TO HELP MEMBERS WITH FINANCING FOR VEHICLES AND FIRST MORTGAGES. FINANCING IS ALSO AVAILABLE IN THE FORM OF SECURED AND UNSECURED LINES OF CREDIT. REGARDING THE LATTER, THE CREDIT UNION OFFERS VISA PLATINUM CREDIT CARDS BOTH WITH AND WITHOUT THE POPULAR REWARDS FEATURE. THE CREDIT UNION ALSO OFFERS COMMERCIAL REAL ESTATE LOANS AND SBA LOANS. SACRAMENTO CREDIT UNION OFFERS A BROAD RANGE OF DEPOSIT PRODUCTS TO ASSIST MEMBERS IN MANAGING CASH FLOW AND SAVING FOR THE FUTURE. INSURED TO AT LEAST $250,000 AND BACKED BY THE FULL FAITH AND CREDIT OF THE FEDERAL GOVERNMENT, SAVINGS OPPORTUNITIES INCLUDE THE FOLLOWING COMPETIVELY PRICED ACCOUNTS: REGULAR, VACATION CLUB, HOLIDAY, IRA, MONEY MARKET, REGULAR AND REWARDS CHECKING, AND CERTIFICATES OF DEPOSIT. SAVINGS IS MADE CONVENIENT VIA DIRECT DEPOSIT OF PAY CHECKS AS WELL AS ANY OTHER RECURRING SOURCE OF CASH INFLOW. THROUGH ONLINE, MOBILE OR TELEPHONE BANKING, MEMBERS CAN EASILY TRANSFER FUNDS BETWEEN SAVINGS ACCOUNTS OR MAKE PAYMENT ON LOANS. ALSO AVAILABLE ARE INVESTMENT SERVICES PROVIDED BY CERTIFIED IN-HOUSE FINANCIAL ADVISORS. 0 0 1 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 9893 0 1 124 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 0 0 1 1 1 0 0 CA X GLENDA KAISER 9164446070 PO BOX 2351 SACRAMENTO CA 958122351 ARON BREWER SECRETARY/TREASURER 1.00 X X 0 0 0 LES BROWN CHAIR 1.00 X X 0 0 0 JIM CULLETON DIRECTOR 1.00 X 0 0 0 ROSS HUGGINS DIRECTOR 1.00 X 0 0 0 HERMAN LI DIRECTOR 1.00 X 0 0 0 JUDY MCGARRY DIRECTOR 1.00 X 0 0 0 WILLIE SOUTHWARD III VICE CHAIR 1.00 X X 0 0 0 BHAVNESH MAKIN PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 X 487391 0 38250 GLENDA KAISER CHIEF FINANCIAL OFFICER 40.00 X 228515 0 36003 TARIK ELDIN DIRECTOR INVESTMENT SERVICES 40.00 X 893635 0 50554 MICHAEL HASTINGS FINANCIAL ADVISOR 40.00 X 231936 0 36006 JULIE SHEPHERD VP LENDING 40.00 X 190203 0 24962 KARL GOIN VP MARKETING 40.00 X 168384 0 19588 ALETHA HICKEY VP HUMAN RESOURCES 40.00 X 153649 0 16530 2353713 0 221893 14 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CARD PROCESSOR & DATA PROCESSING 920674 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE/MOBILE BANKING PROVIDER 272181 COOK SOLUTIONS GROUP 9225 NE CASCADES PKWY PORTLAND OR 97220 ATM SERVICER 266440 RSM US LLP 4650 EAST 53RD ST DAVENPORT IA 52807 CPA 180632 MERIDIAN LINK PO BOX 846822 LOS ANGELES CA 90084 LOAN AND NEW ACCOUNTS PLATFORM 163884 14 NET LOAN PORTFOLIO 522100 20297788 20297788 OTHER INCOME 522100 6253837 6132252 121585 FEE INCOME 522100 1238700 1238700 27790325 11534259 4055056 7479203 170995 149526 21469 21469 21469 194959 206646 -11687 -11687 -11687 39334366 27668740 4176641 7488985 790159 7364287 443920 826364 546382 334520 167331 3000 645744 360469 304738 1347534 1048426 141822 3681635 741943 86265 DIVIDENDS PAID TO MEMBE 8670385 VISA OPERATIONS 1028646 LENDING AND COLLECTIONS 584792 ATM OPERATIONS 476996 269719 29865077 2799661 3160050 145709500 60482566 665843 1065473 3644448 3874323 401972927 419070147 509818 634702 14101330 10539424 3802942 3561906 225268534 243734157 21741942 24482066 806115615 760065390 9169896 8153877 89403156 0 606205991 641444058 704779043 649597935 X 0 0 0 0 101336572 110467455 101336572 110467455 806115615 760065390 9469289 -338406 0 X X 0 0 0 3000 0 0 3000 3000 1 CCUL PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 999999999 3000 0 PART I-A, LINE 1: SACRAMENTO CREDIT UNION PARTICIPATES IN POLITICAL CAMPAIGN ACTIVITIES SO WE HAVE AN OPPORTUNITY TO PROVIDE INPUT ON LEGISLATION THAT AFFECTS CREDIT UNIONS. 233500 233500 6954249 5576137 1378112 2509462 1606357 903105 4404119 3356930 1047189 3561906 FEDERAL AGENCY SECURITIES 204553418 C FEDERALLY INSURED CDS 11947000 C CUSO & MISCELLANEOUS 4206249 C PERPETUAL CONTRIBUTED CAPITAL WITH CATALYST CORP 525000 C US TREASURIES 22502490 C 243734157 CORE DEPOSITS 187669338 MONEY MARKET 113067623 SHAREDRAFT WITH DIVIDENDS 128752238 SHAREDRAFT WITHOUT DIVIDENDS 39385335 IRA SHARES: ROTH & EDUCATION 478270 IRA SHARES: TRADITIONAL 3359501 IRA CERTIFICATES 6965071 SHARE CERTIFICATES 161766682 641444058 X X X X 0 0 0 TARIK ELDIN DIRECTOR INVESTMENT SERVICES 26051 0 70179 0 797405 0 37570 0 12984 0 944189 0 0 0 BHAVNESH MAKIN PRESIDENT/CHIEF EXECUTIVE OFFICER 404453 0 47742 0 35196 0 36420 0 1830 0 525641 0 0 0 MICHAEL HASTINGS FINANCIAL ADVISOR 22908 0 18359 0 190669 0 22636 0 13370 0 267942 0 0 0 GLENDA KAISER CHIEF FINANCIAL OFFICER 205756 0 21471 0 1288 0 21923 0 14080 0 264518 0 0 0 JULIE SHEPHERD VP LENDING 164308 0 17512 0 8383 0 16531 0 8431 0 215165 0 0 0 KARL GOIN VP MARKETING 151798 0 15000 0 1586 0 13859 0 5729 0 187972 0 0 0 ALETHA HICKEY VP HUMAN RESOURCES 138754 0 13444 0 1451 0 12110 0 4420 0 170179 0 0 0 BHAVNESH MAKIN OFFICER COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 3500000 3874323 0 1 1 3874323 LOANS TO INTERESTED PERSONS: IN DECEMBER 2016, SACRAMENTO CREDIT UNION (THE CREDIT UNION) ENTERED INTO AN AGREEMENT WITH A SENIOR EXECUTIVE WHEREBY THE CREDIT UNION MADE A LOAN TO THE EXECUTIVE TO MAKE THE PAYMENTS FOR PREMIUMS ON LIFE INSURANCE POLICIES. THE LOAN IS SECURED BY A PORTION OF THE POLICIES' BENEFITS. THE EXECUTIVE IS THE OWNER AND BENEFICIARY OF THE POLICIES. THE CREDIT UNION RECORDED A RECEIVABLE FROM THE EXECUTIVE FOR THE PREMIUMS PAID TO THE INSURANCE COMPANY. FORM 990, PART VI, SECTION A, LINE 6 SACRAMENTO CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A SACRAMENTO CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B SACRAMENTO CREDIT UNION MEMBERS HAVE THE POWER TO ELECT AND REMOVE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 8B SACRAMENTO CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THEN PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15A A COMPENSATION BENCHMARKING SYSTEM, COMPEASE, IS USED ANNUALLY TO BENCHMARK OUR SALARIES AGAINST SIMILARLY SITUATED COMPANIES. COMPEASE IS ALSO USED TO ESTABLISH SALARY RANGES FOR ALL POSITIONS. WHEN SETTING OFFICER AND KEY EMPLOYEE COMPENSATION, FACTORS TAKEN INTO CONSIDERATION ARE COMPA RATIO, SUBJECT EXPERTISE, INDUSTRY EXPERIENCE, JOB TENURE AND JOB PERFORMANCE. THE CHIEF EXECUTIVE OFFICER APPROVES ALL SALARY RANGES BASED ON DATA PROVIDED FROM COMPEASE. THE BOARD OF DIRECTORS CONSULTS WITH A THIRD-PARTY CONSULTANT TO ESTABLISH THE CHIEF EXECUTIVE OFFICER'S COMPENSATION. THE BOARD OF DIRECTORS KEEPS CONTEMPORANEOUS DOCUMENTATION OF THE DECISION-MAKING PROCESS USED TO DETERMINE THE CHIEF EXECUTIVE OFFICER COMPENSATION. THIS PROCESS LAST OCCURRED IN MAY OF 2025. FORM 990, PART VI, SECTION C, LINE 19 SACRAMENTO CREDIT UNION (THE CREDIT UNION) MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B: SACRAMENTO CREDIT UNION'S (THE CREDIT UNION) FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF SEPTEMBER 30TH, WHILE THE CREDIT UNION'S TAX YEAR-END IS DECEMBER 31ST.