2019-11-13T19:09:12-06:00 2018-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2018-01-01 330358683 AMERICAN FIRST CREDIT UNION AMER 8002901112 6 POINTE DRIVE NO 400 BREA CA 928219322 CHRIS LAWRENCE CFO 8002901112 2019-11-12 1 VALENTINO CREUS CPA P01054153 8189549700 108.95.190.209 2019-11-12 14:47:50 PS P 858CFD5BF01852FA2489562124A1344FB9A1C194 EAB9806DEF4238CAE74313C6CC2BD34B53E62B85 2018 2020-03-31 21:24:44Z JON SHIGEMATSU 6 POINTE DRIVE NO 400 BREA CA 928219322 63369031 0 X WWW.AMERFIRST.ORG X CREDIT UNION 1989 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 160 12 388192 0 0 0 25475242 31748829 4182212 3412047 30671 2248098 29688125 37408974 27685 42756 0 0 10887349 11487496 0 0 0 14057341 17350056 24972375 28880308 4715750 8528666 734890873 782981054 669031831 708204918 65859042 74776136 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, AMERICAN FIRST CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 ACHIEVEMENT OF MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND SIMILAR ACCOUNTS. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH CONSUMER AND REAL ESTATE LOANS, I.E., AUTO LOANS, VISA, 1ST MORTGAGE, PERSONAL LINES OF CREDIT, 2ND MORTGAGE, HOME EQUITY LINES OF CREDIT, AND COMMERCIAL REAL ESTATE. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH OUR LONG TERM COMMITMENT TO HELP OUR MEMBERS REACH THEIR FINANCIAL GOALS. 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 13515 0 1 160 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X TIM LABUDA VP ACCOUNTING & CORPORATE CONTROLLER 8002901112 6 POINTE DRIVE SUITE 400 BREA CA 928219322 TOM COOK CHAIRMAN 1.00 X 0 0 0 PATTI MALOTT SECRETARY 1.00 X 0 0 0 JASON PHILIBERT TREASURER 1.00 X 620 0 0 AMANDA SECOLA BOARD MEMBER 1.00 X 0 0 0 ERIC LEDESMA BOARD MEMBER 1.00 X 0 0 0 ROGER VANDER WENDE BOARD MEMBER 1.00 X 0 0 0 DONNA BROOKS BOARD MEMBER 1.00 X 0 0 0 ROBERT WARKENTON SUPV CMTE CHAIRPERSON 1.00 X 0 0 0 DAVID WEED SUPV CMTE MEMBER 1.00 X 0 0 0 JAMES HOPKINS SUPV CMTE MEMBER 1.00 X 0 0 0 GIZI CLEMMER SUPV CMTE MEMBER 1.00 X 0 0 0 MARK SALIBA SUPV CMTE MEMBER 1.00 X 0 0 0 JON SHIGEMATSU CEO/PRESIDENT 40.00 X 850588 0 40342 CHRISTOPHER LAWRENCE CFO 40.00 X 356478 0 41523 THERESA DAVY COO 40.00 X 333241 0 22011 ROBERT FARRINGTON SR VP COMMERCIAL REAL ESTA 40.00 X 215254 0 34588 PAUL WELCH SR VP RISK MANAGEMENT 40.00 X 282889 0 8530 MICHAEL WELCH SVP LENDING 40.00 X 179849 0 15288 MICHAEL ROSS BUS DEV REAL ESTATE LOAN A 40.00 X 299654 0 5885 TEANNA DONOVAN COMMERCIAL REAL ESTATE LOAN OFFICER 40.00 X 190020 0 23784 2708593 0 191951 19 0 1 0 FISERV INC PO BOX 80123 CITY OF INDUSTRY CA 917168123 CORE SYSTEM MAINTENANCE 1379121 OLEN POINTE BREA CORP 7 CORPORATE PLAZA NEWPORT BEACH CA 92660 COMMERCIAL RENTAL LEASE 471447 EXPERIAN PO BOX 881971 LOS ANGELES CA 900881971 CREDIT REPORTING AGENCY 212860 KFORCE INC PO BOX 277997 ATLANTA GA 303847997 RECRUITING AGENCY 203444 BCCS INC 9804 CRESCENT CERNTER DR 602 RANCHO CUCAMONGA CA 91730 COMMERCIAL BUILDER 169633 14 INTEREST ON LOANS 522100 21984438 21984438 OTHER OPERATING INCOME 522100 7141838 7059813 82025 FEE INCOME 522100 2622553 2316386 306167 31748829 3487787 3487787 25880982 3335 25899050 61007 -18068 -57672 -75740 -75740 OTHER NON-OPERATING INCOME 522100 2248098 2248098 2248098 37408974 37020782 388192 0 35256 7500 2708593 6328571 329049 1281434 839849 99114 230619 2562615 355422 311268 2149119 1027624 387939 6806292 364276 LOAN SERVICING EXPENSE 1691231 PROVISIONS FOR LOAN & L 688139 MISC. OPERATING EXPENSE 574017 OPERATING FEES 76373 26008 28880308 1086835 667503 17705661 21175482 38243 31147 537832 433607 7606854 5753874 3990486 1852980 120426704 111042723 554729822 608036396 36375290 39741216 734890873 782981054 8341154 7506551 660690677 700698367 669031831 708204918 X 0 0 0 0 65859042 74776136 65859042 74776136 734890873 782981054 8528666 -369929 758357 0 X X 0 1 X 1 0 1419416 706105 713311 6187438 5047769 1139669 1852980 ALL OTHER INVESTMENTS 6477690 F LOANS AND LEASES 540374623 F LOANS HELD FOR SALE 56061074 F NCUA SHARE INSURANCE CAP DEPOSITS 4523009 C MEMBERSHIP CAPITAL AT CORP. CUS 600000 C 608036396 ACCRUED INTEREST ON LOANS 1363611 FORECLOSED ASSETS 462581 ACCRUED INTEREST ON INVESTMENTS 690133 ALL OTHER ASSETS 37185829 NON-TRADING DERIVATIVE ASSETS 39062 39741216 MEMBER SHARE DEPOSITS 511657695 DRAWS AGAINST LINE OF CREDIT 189000000 NON-TRADING DERIVATIVE 40672 700698367 X 37408975 0 37408975 0 37408975 28880309 0 28880309 0 28880309 PART X, LINE 2: ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE 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 SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2018, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. 1 AMERICAN CANCER SOCIETY 1940 E DEERE AVE STE 100 SANTA ANA CA 92705 131788491 501(C)(3) 13706 FMV FIGHT BACK AGAINST CANCER BY HONORING CANCER SURVIVORS AND REMEMBERING THOSE WHO WERE LOST. TARA'S CHANCE 219 E CLAIRE AVE FULLERTON CA 92835 460941505 501(C)(3) 5000 FMV PROMOTING THE PHYSICAL, COGNITIVE AND SOCIAL WELL-BEING OF AT RISK YOUTH OR THOSE WITH SPECIAL NEEDS THROUGH EQUINE ASSISTED ACTIVITIES AND THERAPIES. EVERFI INC PO BOX 200034 PITTSBURGH PA 15251 261818856 5000 FMV TO SUPPORT FINANCIAL EDUCATION FOR HIGH SCHOOLS TRAVELERS OF GULLIVERS 3700 CAMPUS DRIVE SUITE 107 NEWPORT BEACH CA 92660 330845299 501(C)(3) 5000 FMV TO IDENTIFY AND ASSITT THOSE WHO ARE MAKING A MEANINGFUL DIFFERENCE IN OUR COMMUNITY. 3 1 SCHOLARSHIPS 5 7500 FMV SCHEDULE I, PART I, LINE 2 SCHOLARSHIP FUNDS WILL BE DISBURSED TO THE STUDENT WHEN EVIDENCE OF ENROLLMENT IN A COLLEGE, UNIVERSITY OR TRADE SCHOOL IS PRESENTED. X X 1 1 X X 0 1 0 JON SHIGEMATSU CEO/PRESIDENT 341548 0 50100 0 458940 0 12375 0 27967 0 890930 0 0 0 CHRISTOPHER LAWRENCE CFO 204741 0 35000 0 116737 0 12375 0 29148 0 398001 0 0 0 THERESA DAVY COO 193384 0 35000 0 104857 0 7559 0 14452 0 355252 0 0 0 ROBERT FARRINGTON SR VP COMMERCIAL REAL ESTA 186855 0 28000 0 399 0 7982 0 26606 0 249842 0 0 0 PAUL WELCH SR VP RISK MANAGEMENT 157345 0 35000 0 90544 0 7943 0 587 0 291419 0 0 0 MICHAEL WELCH SVP LENDING 148797 0 30000 0 1052 0 6793 0 8495 0 195137 0 0 0 MICHAEL ROSS BUS DEV REAL ESTATE LOAN A 3694 0 295960 0 0 0 0 0 5885 0 305539 0 0 0 TEANNA DONOVAN COMMERCIAL REAL ESTATE LOAN OFFICER 50704 0 139313 0 3 0 8625 0 15159 0 213804 0 0 0 PART I, LINE 4B THE CREDIT UNION ESTABLISHED A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN EXECUTIVE/SENIOR MANAGEMENT EMPLOYEES UNDER INTERNAL REVENUE CODE (IRC) SECTION 457(F). MICHAEL WELCH OFFICER AUTO LOAN X 42821 30880 0 1 1 MICHAEL WELCH OFFICER CREDIT CARD X 500 267 0 1 1 31147 FORM 990, PART VI, SECTION A, LINE 6 AMERICAN FIRST 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. AMERICAN FIRST CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF AMERICAN FIRST 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 990 IS PROVIDED TO THE BOD WHO RECOMMENDS CHANGES WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION CONFLICT OF INTEREST AND ETHICS POLICY IS MONITORED ON A REGULAR BASIS. COMPLIANCE IS MONITORED THROUGH THIRD PARTY AUDITS, THE INTERNAL AUDIT STAFF AND COMPLIANCE DEPARTMENTS. RELATED PARTY TRANSACTIONS ARE REPORTED TO THE GOVERNING BODY FOR REVIEW AND APPROPRIATENESS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO COMPENSATION IS DETERMINED BY THE ORGANIZATION'S GOVERNING BODY. THE BOARD REVIEWS THE CEO'S ACCOMPLISHMENTS, CREDIT UNION FINANCIAL POSITION, OTHER EXECUTIVE SALARIES AND INDUSTRY COMPENSATION SURVEYS FOR RANGES IN LIKE POSITIONS WITHIN THE INDUSTRY IN DETERMINING THE APPROPRIATE SALARY. THE SALARY AND COMPENSATION OF OTHER OFFICERS OF THE ORGANIZATION ARE DETERMINED BY THE CEO AND CHIEF OPERATING OFFICER. COMPENSATION LEVELS ARE DETERMINED THROUGH THE USE OF THIRD PARTY VENDORS THAT SUPPLY INDUSTRY COMPENSATION INFORMATION FOR LIKE ORGANIZATIONS BY ASSET SIZE AND REGIONAL COMPENSATION TRENDS. MINIMUM AND MAXIMUM COMPENSATION RANGES ARE ESTABLISHED FOR EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST TO MEMBERS OF THE ORGANIZATION. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.