2020-09-22T18:27:24-05:00 2019-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2019-01-01 952023588 ALTURA CREDIT UNION FKA RIVERSIDE COUNTY'S CREDIT UNION ALTU 9515715395 2847 CAMPUS PARKWAY RIVERSIDE CA 92507 KATHY THAYER SVP/CFO 9515715395 2020-09-21 1 VALENTINO CREUS CPA P01054153 8189549700 24.176.202.186 2020-09-21 11:02:14 PD P CEFC9F3E0A6DCC685B364005133C18EB560DB533 048EE652F0479155537D3ADFC76134B616B923FF 2019 2022-02-16 14:24:37Z JENNIFER BINKLEY 2847 CAMPUS PARKWAY RIVERSIDE CA 92507 105472968 0 X WWW.ALTURACU.COM X CREDIT UNION 1957 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 13 13 467 15 210777 -222857 0 0 77722630 88996667 5148537 5231642 325504 723239 83196671 94951548 1180470 98065 0 0 27646374 29859742 0 0 0 39907161 45644982 68734005 75602789 14462666 19348759 1415150496 1515289444 1262825171 1340781902 152325325 174507542 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, ALTURA 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 ALTURA CREDIT UNION OFFERS TRADITIONAL BANKING SERVICES, INCLUDING CHECKING ACCOUNTS, SAVINGS ACCOUNTS, AND INVESTMENT SERVICES (RETIREMENT ACCOUNTS, STOCKS, BONDS, AND MUTUAL FUNDS) FOR PERSONAL AND BUSINESS PURPOSES. IT ALSO OFFERS MOBILE BANKING THROUGH A PHONE APPLICATION AVAILABLE FOR IPHONE, ANDROID PHONES, AND BLACKBERRY PHONES. MEMBERS CAN HAVE 24/7 ACCOUNT ACCESS, CHECK THEIR ACCOUNT AND LOAN BALANCES, TRANSFER FUNDS WITHIN AN ACCOUNT PAY THEIR CREDIT CARD AND LOAN WITHIN AN ACCOUNT, LOCATE BRANCHES AND ATM MACHINES, AND HAVE ACCESS TO OTHER MEMBER SERVICES. ALTURA CREDIT UNION OFFERS A WIDE RANGE LINE OF CREDIT PRODUCTS TO ITS MEMBERS THAT INCLUDES VEHICLE LOANS, HOME LOANS, PERSONAL LOANS, AND CREDIT CARDS. THE ORGANIZATION OFFERS FINANCING OR REFINANCING FOR NEW OR USED AUTOMOBILES WITH TERMS UP TO 84 MONTHS. IT ALSO OFFERS FINANCING FOR RECREATIONAL VEHICLES, BOATS, JET SKIS, AND MOTORCYCLES. THE ORGANIZATION OFFERED TRADITIONAL AND ADJUSTABLE RATE MORTGAGES IN 2019. IN 2019, IT SPECIFICALLY SOUGHT TO ASSIST MEMBERS THAT WERE IMPACTED BY FIRE, GOVERNMENT SHUTDOWN,OR OTHER EMERGENCY, THROUGH A VARIETY OF EFFORTS BY OFFERING EMERGENCY AND OTHER SPECIALIZED LOANS. THE ORGANIZATION OFFERS TWO TYPES OF PERSONAL LOANS: SIGNATURE LOAN AND SECURED LOANS. A SIGNATURE LOAN PROVIDES UP TO $15,000 TO ITS MEMBERS FOR ANY PURPOSE. A SECURED LOAN PROVIDES LOANS TO ITS MEMBERS THAT IS SECURED BY COLLATERAL. A SECURED LOAN HAS TERMS UP TO 10 YEARS OR UP TO THE MATURITY DATE FOR A SHARE CERTIFICATE. THE ORGANIZATION ALSO OFFERS A VARIETY OF CREDIT CARDS INCLUDING MASTERCARD PLATINUM PREFERRED, MASTERCARD PLATINUM, MASTERCARD CLASSIC, AND MASTERCARD REWARDS. ALTURA CREDIT UNION OFFERED FREE WORKSHOPS IN 2019 TO ITS MEMBERS THROUGH COMMUNITY OUTREACH AND CONNECTING WITH OUR COMMUNITY PARTNERS. THESE WORKSHOPS COVERED THE FOLLOWING TOPICS: REBUILDING AFTER A FINANCIAL CRISIS, SOLVING THE MYSTERY OF CREDIT REPORTS, RAISING MONEY SMART KIDS, BUILDING A BETTER BUDGET, IDENTIFY THEFT SOLUTIONS, TEN STEPS TO FINANCIAL SUCCESS, PSYCHOLOGY OF SPENDING, TEENS AND MONEY AND UNDERSTANDING CREDIT. WE ALSO OFFER ACCESS TO CERTIFIED FINANCIAL COUNSELORS (BALANCE), ONLINE COURSE AND EDUCATION ARTICLES. THE FREE ONLINE COURSES CONSIST OF VARIOUS TOPICS ENABLING OUR MEMBERS TO EXPLORE DIFFERENT ASPECTS OF FINANCIAL EDUCATION AT THEIR OWN PACE. CLASSES INCLUDED: MONEY MANAGEMENT,CHECKING ACCOUNT MANAGEMENT,THE PSYCHOLOGY OF SPENDING,THE ROAD TO HOME OWNERSHIP, FINANCIAL FIRST AID, FINANCES FOR COLLEGE STUDENTS, AND BUYING A VEHICLE. 0 0 1 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 23656 0 1 467 1 1 1 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X KATHY THAYER SVPCFO 9515715362 2847 CAMPUS PARKWAY RIVERSIDE CA 92507 JACQUELINE HALL CHAIRWOMAN 2.00 X 868 0 0 PERRY REED VICE CHAIRMAN 2.00 X 2690 0 0 JERRY RIVERA TREASURER 2.00 X 991 0 0 JOSEPH CALDERON SECRETARY 2.00 1.00 X 0 0 0 MARK BALYS IMMEDIATE PAST CHAIRMAN 2.00 X 0 0 0 GEORGE PRICE DIRECTOR 2.00 X 1639 0 0 KEITH D DOWNS DIRECTOR 2.00 X 0 0 0 ALAN STRZEMIECZNY DIRECTOR 2.00 1.00 X 0 0 0 NORMAN PERRY DIRECTOR 2.00 X 0 0 0 BARBARA PURVIS DIRECTOR 2.00 1.00 X 0 0 0 GLORIA PEREZ DIRECTOR 2.00 X 745 0 0 EUGENE KIM DIRECTOR 2.00 X 0 0 0 NINFA DELGADO DIRECTOR 2.00 X 0 0 0 JENNIFER BINKLEY CEO 40.00 1.00 X 702787 0 29711 KEVIN SHERRELL EVP/CIAO 40.00 X 360497 0 27205 DAVID CONSTANTINO SVP/CLO 40.00 X 331580 0 17689 ROBERT WHITTON SVP/COO 40.00 X 302665 0 22691 CHRIS ANDRUS SVP/CCO 40.00 X 299442 0 29986 KATHLEEN THAYER SVP/CFO 40.00 X 246516 0 21430 CHIN H PYUN SVP/GENERAL COUNSEL 40.00 X 210098 0 4082 LUIS BARRIOS COMMERCIAL BUS DEVELOPMENT 40.00 X 240813 0 28663 SCOTT MURRAY VP OF TECHNOLOGY INFORMATI 40.00 X 210054 0 8273 NATALIE BROWN VP OF CONSUMER LENDING 40.00 X 175480 0 15740 AARON LYNN VP, AUTO EXPERT 40.00 X 158363 0 20039 TINA COVINGTON VP, SALES & BUSINESS DEVELOPMENT 40.00 X 151320 0 19685 3396548 0 245194 48 0 1 0 INTEGRATED BUILDERS GROUP INC 5137 GOLDEN FOOTHILL PKWY 140 EL DORADO HILLS CA 95762 CONSTRUCTION SERVICES 2042779 FTSI PO BOX 919 MONROVIA CA 91017 SECURITY CONTROL SERVICES 1137249 ALKAMI TECHNOLOGY INC 5601 GRANITE PARKWAY STE 120 PLANO TX 75024 STATEMENT PROCESSING 1091250 DBSI INC 6950 WEST MORELOS PL CHANDLER AZ 85226 BANKING 1052184 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STATEMENT PROCESSING 949028 43 INTEREST ON LOANS 522100 52533674 52533674 OTHER OPERATING INCOME 522100 20073593 20073593 FEE INCOME 522100 16389400 16178623 210777 88996667 5158431 5158431 525986 158668 367318 367318 367318 10435963 10362752 73211 73211 73211 GAIN ON SALE OF REOS 522100 278526 278526 OTHER NON-OPERATING IN 522100 77395 77395 355921 94951548 94740771 210777 0 98065 3396548 21648809 656143 2307174 1851068 75638 194594 3538775 3138169 5523848 484221 3612617 592148 6050497 2999364 563332 LOAN SERVICING EXPENSE 8530465 PROVISION FOR LOAN AND 7866835 MISC. EXPENSE 2312352 OPERATING FEES 162127 75602789 23540206 19571781 71521694 37568143 6263319 9094113 2094887 2321411 97793113 52891404 39605374 44901709 169018778 162268719 1023531663 1155394293 1004787 399631 78569788 83769644 1415150496 1515289444 20688298 18694072 1242136873 1322087830 1262825171 1340781902 X 0 0 0 0 152325325 174507542 152325325 174507542 1415150496 1515289444 19348759 2833458 0 X X 0 1 X 1 0 9811 9811 9811 1 CCUL - PAC 2855 E GUASTI ROAD ONTARIO CA 91761 940357265 9811 PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE TO PROMOTE TRADE INFORMATION PERTAINING TO CREDIT UNIONS. 7682954 7682954 50438055 21926264 28511791 5972057 4358776 1613281 26444829 21188816 5256013 7255218 5417548 1837670 44901709 DEPOSITS IN COMMERCIAL BANKS 248000 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CU 992000 C PAID-IN CAPITAL AT CORP. 2250000 C ALL OTHER INVESTMENTS 3392900 F LOANS HELD FOR SALE 483636 C LOANS AND LEASES 1135781121 F NCUA SHARE INSURANCE 12246636 C 1155394293 FORECLOSED ASSETS 458434 ACCRUED INTEREST ON LOANS 3176673 ACCRUED INTEREST ON INVESTMENTS 492734 ALL OTHER ASSETS 79641803 83769644 SHARES AND DEPOSITS 1322087830 1322087830 X PART X, LINE 2: ASC 740-10-65, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, PROVIDES GUIDANCE ON HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. ASC 740 REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN, WITH A DETERMINATION OF WHETHER UNCERTAIN TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED WHEN EXAMINED BY THE TAXING AUTHORITIES. TAX POSITIONS NOT DEEMED TO HAVE MET THE MORE-LIKELY-THAN-NOT CRITERIA WOULD BE RECORDED AS AN EXPENSE AND A LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018, AS WELL AS ANY REMAINING OPEN TAX YEARS, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. 1 ALTURA CREDIT UNION FOUNDATION 2847 CAMPUS PARKWAY RIVERSIDE CA 92507 330625895 501(C)(3) 98065 FMV TO ASSIST HIGH SCHOOL SENIORS IN REACHING THEIR HIGHER EDUCATION GOALS. 1 PART I, LINE 2: A MAJORITY OF THE DIRECTORS OF THE GRANTEE, ALTURA CREDIT UNION FOUNDATION, ARE ALSO OFFICERS OR DIRECTORS OF ALTURA CREDIT UNION. ALTURA CREDIT UNION EXERCISES OVERSIGHT OVER THE USE OF GRANT FUNDS, WHICH ARE USED FOR SCHOLARSHIPS FOR HIGH SCHOOL GRADUATES, THROUGH THESE OVERLAPPING DIRECTORS. X X 1 1 X X 0 1 0 JENNIFER BINKLEY CEO 521931 0 172796 0 8060 0 10560 0 19151 0 732498 0 0 0 KEVIN SHERRELL EVP/CIAO 267637 0 86337 0 6523 0 11000 0 16205 0 387702 0 0 0 DAVID CONSTANTINO SVP/CLO 251871 0 77666 0 2043 0 7757 0 9932 0 349269 0 0 0 ROBERT WHITTON SVP/COO 228188 0 74082 0 395 0 10953 0 11738 0 325356 0 0 0 CHRIS ANDRUS SVP/CCO 224700 0 74112 0 630 0 10835 0 19151 0 329428 0 0 0 KATHLEEN THAYER SVP/CFO 200055 0 44402 0 2059 0 9692 0 11738 0 267946 0 0 0 CHIN H PYUN SVP/GENERAL COUNSEL 205021 0 5077 0 0 0 308 0 3774 0 214180 0 0 0 LUIS BARRIOS COMMERCIAL BUS DEVELOPMENT 220066 0 20560 0 187 0 9512 0 19151 0 269476 0 0 0 SCOTT MURRAY VP OF TECHNOLOGY INFORMATI 169841 0 39879 0 334 0 8273 0 0 0 218327 0 0 0 NATALIE BROWN VP OF CONSUMER LENDING 134514 0 34686 0 6280 0 4002 0 11738 0 191220 0 0 0 AARON LYNN VP, AUTO EXPERT 134122 0 20507 0 3734 0 6448 0 13591 0 178402 0 0 0 TINA COVINGTON VP, SALES & BUSINESS DEVELOPMENT 120348 0 29750 0 1222 0 6094 0 13591 0 171005 0 0 0 PART I, LINE 1A THE CHIEF EXECUTIVE OFFICER WAS REIMBURSED FOR SOCIAL CLUB DUES. THE AMOUNT IS INCLUDED IN COMPENSATION ON SCHEDULE J, PART II, COLUMN B(III). THE DUES REPRESENT AMOUNTS PAID TO THE VICTORIA CLUB, AND ARE A TAXABLE ITEM FOR THE CEO AS IT IS CONSIDERED A BENEFIT. THE REIMBURSEMENT FOR COMPANION TRAVEL EXPENSES MUST BE APPROVED IN ADVANCE OF TRAVEL BY THE BOARD OF DIRECTORS. FOR TRAVEL BENEFITS RECEIVED IN EXCESS OF $600 DURING ANY TAX YEAR, THE CREDIT UNION WILL ISSUE A FORM 1099 TO THE RECIPIENT. PART I, LINE 4B THE CREDIT UNION ENTERED INTO A SPLIT-DOLLAR AGREEMENT WITH THE CEO IN 2018. THE CREDIT UNION ENTERED INTO A SPLIT-DOLLAR AGREEMENT WITH THE EVP/CSO IN 2019. JENNIFER BINKLEY OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 6042522 6331073 0 1 1 KEVIN SHERRELL OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 2741186 2763040 0 1 1 9094113 FORM 990, PART VI, SECTION A, LINE 6 ALTURA 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. ALTURA CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF ALTURA 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 ITS 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 CFO REVIEWS THE INFORMATION LISTED ON THE FORM 990 FOR ACCURACY BEFORE SUBMITTING IT TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ALTURA CREDIT UNION'S EMPLOYEE HANDBOOK DETAILS THE CONFLICT OF INTEREST POLICY. ACCOUNT STATUS IS REVIEWED FOR DIRECTORS, OFFICERS AND EMPLOYEES. THERE IS AN ETHICS HOTLINE AVAILABLE FOR USE BY OUR MEMBERS AND EMPLOYEES. IN THE CASE OF A POTENTIAL CONFLICT IS SUSPECTED, AN INVESTIGATION IS CONDUTED AND IF NECESSARY, STEPS ARE TAKEN TO RESOLVE THE ISSUE IN A TIMELY MANNER. FORM 990, PART VI, SECTION B, LINE 15 A PERFORMANCE APPRAISAL IS COMPLETED BY THE BOARD OF DIRECTORS. EXTERNAL MARKET DATA IS GATHERED AND A REPORT ON PROJECTED CEO INCREASES WITH THE RECOMMENDATION IS PREPARED BY AN OUTSIDE FIRM. THE BOARD OF DIRECTORS MEETS TO REVIEW THE DATA AND RECOMMENDS INCREASES AND THE CURRENT TOTAL COMPENSATION PACKAGE OF THE CEO. THE BOARD THEN VOTES ON THE NEW SALARY. FOR OTHER OFFICERS OR KEY EMPLOYEES, COMPENSATION SURVEYS ARE CONDUCTED AND USED, AS WELL AS AN INFORMATION SYSTEM THAT PROVIDES MARKET SALARIES AND INCREASES FOR SIMILAR ROLES IN THE SURROUNDING AREAS. FORM 990, PART VI, SECTION C, LINE 19 ALTURA CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CODE OF ETHICS, AND FINANCIAL STATEMENTS AVAILABLE TO ITS MEMBERS UPON REQUEST. THE MONTHLY FINANCIALS STATEMENTS ARE POSTED IN EACH OF THE BRANCHES. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. ALTURA CREDIT UNION FOUNDATION 2847 CAMPUS PARKWAY RIVERSIDE CA 92507 330625895 SCHOLARSHIPS CA 501(C)(3) 7 ALTURA CU 1 ALTURA GROUP INC 2847 CAMPUS PKWY RIVERSIDE CA 92507 330466710 LENDING CA ALTURA CU C 4581726 6742075 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 ALTURA CREDIT UNION FOUNDATION B 98065 FMV ALTURA GROUP INC L 192448 FMV