2019-11-15T14:23:35-06:00 2018-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1100 MINNEAPOLIS MN 554022526 990 2018-01-01 941287157 COAST CENTRAL CREDIT UNION COAS 7074458801 2650 HARRISON AVENE EUREKA CA 95501 JAMES SESSA PRESIDENT/CEO 7074458801 2019-11-15 1 KACIE MCEWEN P01599614 6123324300 66.98.98.3 2019-11-15 12:22:50 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B56786F7D21A8F39D00ED83C272556B8DDCB8C36 2018 2020-04-17 16:48:07Z JAMES SESSA 2650 HARRISON AVENE EUREKA CA 95501 55434419 0 X WWW.COASTCCU.ORG X 1950 CA PROVIDING FINANCIAL SERVICES TO MEMBERS. 9 9 314 12 193532 -40396 0 0 35541541 39976703 12121771 15360906 20826 -12044 47684138 55325565 256517 245845 6028383 7754468 15020679 16087313 0 0 0 13984780 14652830 35290359 38740456 12393779 16585109 1382696019 1473051481 1237383097 1315146162 145312922 157905319 COAST CENTRAL CREDIT UNION'S MISSION IS TO BE THE PRIMARY FINANCIAL INSTITUTION FOR MEMBERS BY PROVIDING HIGH QUALITY FINANCIAL SERVICES AT COMPETITIVELY FAVORABLE RATES CONSISTENT WITH MAINTAINING FINANCIAL STRENGTH. 0 0 COAST CENTRAL PROVIDES A RANGE OF DEPOSIT SERVICES TO ITS APPROXIMATELY 65,000 MEMBERS. THESE INCLUDE SAVINGS, CHECKING, MONEY MARKET, AND SAVINGS CERTIFICATE ACCOUNTS. SERVICES CAN BE ACCESSED THROUGH OUR 12 MEMBER SERVICES BRANCHES, ONLINE, BY PHONE, OR THROUGH A LARGE NETWORK OF ATMS. WE OFFER MANY DIFFERENT LOAN PRODUCTS. THESE INCLUDE CREDIT CARDS, CONSUMER PERSONAL, AUTO, AND RV LOANS; REAL ESTATE PURCHASE, REFINANCE, AND HOME EQUITY LINES-OF-CREDIT; AND, MEMBER BUSINESS LOANS. LOAN DECISIONS ARE MADE LOCALLY, WITH KNOWLEDGE OF LOCAL CONDITIONS AND THE CREDIT UNION MEMBERS THEMSELVES. COAST CENTRAL IS ACTIVE IN SUPPORTING MANY LOCAL EVENTS AND CHARITIES. OVER $250,000 IS DONATED TO LOCAL CHARITABLE ORGANIZATIONS, COLLEGE SCHOLARSHIPS TO LOCAL HIGH SCHOOL GRADUATES, AND COMMUNITY PROJECTS, EACH YEAR. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 0 0 0 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 17728 0 1 314 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CA X JAMES SESSA 7074458801 2650 HARRISON AVENUE EUREKA CA 95501 X RONALD RUDEBOCK CHAIR 2.00 X X 1450 0 0 DENISE JONES VICE CHAIR 2.00 X X 0 0 0 JOHN GLADDING TREASURER 2.00 X X 0 0 0 JOYCE JURY SECRETARY 2.00 X X 0 0 0 ROBERT GEARHEART DIRECTOR 1.00 X 0 0 0 LOUIS BUCHER DIRECTOR 1.00 X 0 0 0 BRENDAN MCKENNY DIRECTOR 1.00 X 0 0 0 KELLY WALSH DIRECTOR 1.00 X 2195 0 0 ROBIN BAILIE DIRECTOR 1.00 X 0 0 0 JAMES SESSA PRESIDENT/CEO 40.00 X 849250 0 63686 FRED MOORE VP/CFO 40.00 X 194994 0 6302 ED CHRISTIANS VP MEMBER INFORMATION SYSTEMS 40.00 X 251477 0 61627 ROBERT MOORE VP MEMBER LOAN SERVICES 40.00 X 275352 0 35599 ANN JADRO-BETTIGA VP HUMAN RESOURCES 40.00 X 224643 0 32649 KRISTIN BLAIR VP MEMBER SERVICES 40.00 X 204005 0 28843 COLLEEN TOSTE VP OF MARKETING 40.00 X 143040 0 12359 2146406 0 241065 9 0 1 0 DANCO BUILDERS 5251 ERICSON WAY ARCATA CA 95521 CONSTRUCTION/REMODEL 3737700 COX RSMUSSEN 2830 F STREET EUREKA CA 95501 MARKETING SERVICES 592040 CDW DIRECT PO BOX 75723 CHICAGO IL 60675 COMPUTER/SOFTWARE SERVICES 526539 FINASTRA USA CORP PO BOX 535120 ATLANTA GA 30353 SOFTWARE SERVICES 477090 Q2 SOFTWARE PO BOX 205970 ATLANTA GA 30353 SOFTWARE SERVICES 450131 20 INTEREST ON LOANS 522100 27728336 27728336 SERVICE INCOME 522100 11565608 11372076 193532 OTHER MISC INCOME 522100 682759 682759 39976703 15409727 15409727 47989 60033 -12044 -12044 -12044 48821 -48821 -48821 -48821 55325565 39783171 193532 15348862 200000 45845 7754468 1114232 11156464 1467733 1408223 940661 38534 165586 2365195 938584 1726147 1024067 1001650 48200 151831 2132381 2497214 125251 PROVISION FOR LOAN & OV 2154729 DUES & SUBSCRIPTIONS 117806 PUBLIC RELATIONS 79348 STAFF EVENTS/APPRECIATI 66424 19883 38740456 204040161 260348928 4324889 5018644 340588 7064292 613589187 672985945 389661 560699 28449395 10472959 12841830 17976436 536630093 491692444 10539610 17404093 1382696019 1473051481 2817183 4822104 957702 1084762 63890069 66472046 1169718143 1242767250 1237383097 1315146162 X 0 0 0 0 145312922 157905319 145312922 157905319 1382696019 1473051481 16585109 -3992712 0 X 0 1 X 1 0 6000 6000 6000 1 CALIFORNIA CREDIT UNION LEAGUE PAC PO BOX 51476 ONTARIO CA 91761 942329967 6000 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES TO THE CALIFORNIA CREDIT UNION LEAGUE PAC TO SUPPORT CREDIT UNION ISSUES. 0 1 X 1667245 1667245 16015884 3412799 12603085 959089 691048 268041 2891957 2298248 593709 6915220 4070864 2844356 17976436 FHLB STOCK 8128100 C FHLB DAILY 136668 C AVAILABLE FOR SALE GOV'T SECURITIES 218431033 F MORTGAGE-RELATED SECURITIES 264996643 F 491692444 ACCRUED INTEREST PAYABLE 54567 WORK IN PROCESS 4342875 SHARES 1238369808 1242767250 PART IV, LINE 2B: THE CREDIT UNION ACTS AS CUSTODIAN ON BEHALF OF ITS MEMBER'S ESCROWED FUNDS; WHICH ARE UTILIZED TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MEMBERS. 1 SAMOA PENINSULA FIREFIGHTERS PO BOX 234 SAMOA CA 95564 946107870 501(C)(3) 11330 RETROFIT RESCUE VEHICLE FOR BEACH/DUNES HEALY SENIOR CENTER PO BOX 1849 REDWAY CA 95540 942762224 501(C)(3) 10096 RENOVATE COMMERICAL KITCHEN WILD SOULS RANCH PO BOX 396 EUREKA CA 95502 471895953 501(C)(3) 4939 SUPPORT FOR SERVICE HORSES FOR FOSTER/ADOPTED YOUTH ZERO WASTE HUMBOLDT PO BOX 293 ARCATA CA 95518 464706894 501(C)(3) 7733 PURCHASE OF HYDRATION STATIONS BLUE LAKE UNION SCHOOL DISTRICT PO BOX 268 BLUE LAKE CA 95525 364799843 501(C)(3) 7000 CHROMEBOOKS FOR CLASSROOM HUMBOLDT BAY FIRE 533 C ST EUREKA CA 95501 461531077 501(C)(3) 7000 THERMAL IMAGING CAMERA HUMBOLDT LIBRARY FOUNDATION PO BOX 440 EUREKA CA 95502 911879359 501(C)(3) 5000 CHILDREN'S BOOKS NORTH COAST GROWERS ASSOCIATION 1385 8TH ST ARCATA CA 95521 770212408 501(C)(3) 10000 TRUCK & SAFETY EQUIPMENT SPECIAL OLYMPICS N CALIFORNIA 515 J ST STE C EUREKA CA 95501 680363121 501(C)(3) 11000 TRANSPORATION/LODGING FOR ATHLETES DEL NORTE SHERIFF SEARCH & RESCUE 650 5TH ST CRESTENT CITY CA 95531 680469654 501(C)(3) 4673 EMERGENCY VEHICLE PURCHASE ORLEANS VOLUNRTEER FIRE DEPARTMENT PO BOX 415 ORLEANS CA 95556 942572021 501(C)(3) 13000 ROPE RESCUE EQUIPMENT BLESS THE BEASTS 375 WILDWOOD RIO DELL CA 95562 680417175 501(C)(3) 2505 MEALS ON WHEELS FOR SENIORS' PETS PENINSULA SCHOOL DISTRICT PO BOX 175 SAMOA CA 95564 383953012 501(C)(3) 5000 CHROMEBOOKS REDWOOD EMPIRE LITTLE LEAGUE PO BOX 339 CUTTEN CA 95534 510256037 501(C)(3) 3000 GAME/PRACTICE BASEBALLS ARCATA HOUSE PARTNERSHIP 1005 ELEVENTH ST ARCATA CA 95521 943163269 501(C)(3) 25000 VAN FOR DELIVERIES REDWOOD ELEMENTARY 344 HUMBOLDT AVE REDWAY CA 95560 946002153 501(C)(3) 4969 50 CHAIRS FOR MUSIC CLASS LEWISTON COMMUNITY SERVICE DISTRICT 302 TEXAS AVE LEWISTON CA 96052 363666729 501(C)(3) 12626 HEAING A/C SYSTEM FOR COMMUNITY CENTER HUMBOLDT SENIOR RESIDENCE CENTER 1910 CALIFORNIA ST EUREKA CA 95501 942261434 501(C)(3) 12729 COMMERICAL KITCHEN MIXER 18 0 LOCAL COLLEGE SCHOLARSHIPS 38 45845 PART I, LINE 2: THE MARKETING DEPARTMENT APPROVES PAYMENT OF GRANT EXPENSES TO ORGANIZATIONS AND THE ADMINISTRATION APPROVES SCHOLARSHIPS. FUNDS ARE SENT DIRECTLY TO THE FINANCIAL AID OFFICES OF THE COLLEGES THE STUDENTS WILL BE ATTENDING. IF THE STUDENTS DO NOT ACTUALLY ENROLL, THE FUNDS ARE RETURNED TO THE CREDIT UNION. ORGANIZATIONS PROVIDE A PACKET OF BACKGROUND INFORMATION ABOUT THEIR SERVICE/ORGANIZATION WHEN APPLYING FOR A GRANT. THE ORGANIZATION'S ARE LOCAL SO THE CREDIT UNION IS AWARE OF HOW THE FUNDS ARE USED. X X X 1 1 X X X 0 0 0 JAMES SESSA PRESIDENT/CEO 629712 0 192164 0 27374 0 41250 0 22436 0 912936 0 0 0 FRED MOORE VP/CFO 188017 0 0 0 6977 0 0 0 6302 0 201296 0 0 0 ED CHRISTIANS VP MEMBER INFORMATION SYSTEMS 192378 0 52830 0 6269 0 26409 0 35218 0 313104 0 0 0 ROBERT MOORE VP MEMBER LOAN SERVICES 199204 0 69879 0 6269 0 25457 0 10142 0 310951 0 0 0 ANN JADRO-BETTIGA VP HUMAN RESOURCES 179438 0 40090 0 5115 0 30390 0 2398 0 257431 0 0 0 KRISTIN BLAIR VP MEMBER SERVICES 163040 0 35850 0 5115 0 16431 0 12412 0 232848 0 0 0 COLLEEN TOSTE VP OF MARKETING 137607 0 4972 0 461 0 0 0 12359 0 155399 0 0 0 PART I, LINE 1A TRAVEL - BOARD MEMBERS CAN TAKE A GUEST ON UP TO TWO CONFERENCES PER YEAR. THE GUEST EXPENSES PAID BY THE CREDIT UNION ARE REPORTED AS TAXABLE INCOME TO THE BOARD MEMBER. MEMBERSHIP DUES - THE CREDIT UNION PAYS FOR MANAGEMENT EMPLOYEES' DUES TO SERVICE CLUBS SUCH AS ROTARY, KIWANIS, ETC., FOR EDUCATIONAL, NETWORKING, AND COMMUNITY SERVICE PURPOSES. JAMES SESSA PRESIDENT/CEO LOAN TO FUND INSURANCE POLICY X 146210 7064292 0 1 1 7064292 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING DEPARTMENT PREPARES THE INFORMATION WHICH IS THEN REVIEWED BY SENIOR MANAGEMENT. THE 990 IS PRESENTED TO THE BOARD CHAIR BEFORE FILING, AND A COPY IS MADE AVAILABLE FOR ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY FOR ITS STAFF, OFFICIALS, AND THE BOARD OF DIRECTORS. CONFLICT OF INTEREST BY EMPLOYEES WHEN HANDLING MEMBER ACCOUNTS IS MONITORED BY THE COMPUTER SYSTEM. BOARD MEMBERS CANNOT VOTE ON MATTERS WHERE THERE IS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY DURING THE BUDGET PROCESS, THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION RANGES FOR EACH POSITION. THESE RANGES ARE DEVELOPED BY THE HUMAN RESOURCES DEPARTMENT USING COMPARABLE DATA SPECIFIC TO THE CREDIT UNION INDUSTRY. THE CEO SALARY IS BY CONTRACT AND REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF ALL OFFICES. ALL OTHER REQUESTS MUST BE PRESENTED IN WRITING TO THE BOARD OF DIRECTORS. DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PT VII AND SCHEDULE J, PT II - COMPENSATION RELATED DISCLOSURES SCHEDULE J EXPLANATION OF "BONUS AND INCENTIVE COMPENSATION" THE CREDIT UNION HAS TWO PRIMARY INCENTIVE COMPENSATION PLANS, AN ANNUAL INCENTIVE COMPENSATION PLAN THAT ALL EMPLOYEES ARE ELIGIBLE FOR AND A LONG-TERM DEFERRED INCENTIVE COMPENSATION PLAN FOR ELIGIBLE SENIOR MANAGEMENT. GOALS ARE ESTABLISHED BY THE CREDIT UNION FOR EACH OF THESE PLANS TO PROVIDE INCENTIVE AND REWARDS TO EMPLOYEES FOR ACHIEVING RESULTS THAT IMPROVE AND STRENGTHEN THE CREDIT UNION. THE GOALS ARE ESTABLISHED FOR EACH OF THESE PLANS AT THE BEGINNING OF THE INCENTIVE PLAN PERIOD. FOR THE ANNUAL PLAN,PAYOUTS ARE MADE TO PARTICIPANTS BASED UPON ACHIEVEMENT OF THE ANNUAL GOALS. FOR THE LONG-TERM DEFERRED PLAN, THE GOALS MUST BE ACHIEVED OVER A THREE YEAR PERIOD FOR THE PARTICIPANT TO EARN A PAYOUT UNDER THE PLAN. SCHEDULE J EXPLANATION OF "OTHER REPORTABLE COMPENSATION" THE CREDIT UNION HAS ESTABLISHED A 401K RETIREMENT PLAN FOR ALL ELIGIBLE EMPLOYEES. IT HAS ALSO PUT IN PLACE OTHER PLANS AND FUNDING PAYMENTS TO PROVIDE A REASONABLE TARGETED RETIREMENT BENEFIT FOR HIGHER PAID EMPLOYEES BECAUSE OF THE LIMITATIONS UNDER QUALIFIED PLANS SUCH AS OUR 401K PLAN, WHICH CREATES A REVERSE DISCRIMINATION EFFECT. THE CREDIT UNION PROVIDES IN LIEU PAYMENTS TO AN INDIVIDUAL ONCE THE QUALIFIED LIMIT IS REACHED EQUAL TO WHAT OTHERWISE WOULD HAVE BEEN CONTRIBUTED TO THE PLAN IF NOT FOR THE LIMITATION. IN 2010 COAST CENTRAL CREDIT UNION ATTACHED TO ITS 990 FILING A "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION". THE 2018 FORM 990 DOES NOT ALLOW PDF ATTACHMENTS TO BE INCLUDED WITH THE ELECTRONICALLY FILED FORM 990, WITH THE EXCEPTION OF SPECIFIC ATTACHMENTS REQUIRED BY THE IRS. COAST CENTRAL CREDIT UNION HAS AN E-FILE REQUIREMENT AND CANNOT PAPER FILE UNLESS REQUIRED TO DO SO BY THE IRS. IF A PAPER COPY OF THE RETURN IS FILED WHEN IT IS NOT REQUIRED THE IRS MAY CONSIDER THE RETURN AS NOT TIMELY FILED; THEREFORE THE "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION" IS AVAILABLE TO THE IRS UPON REQUEST. FORM 990, PART I, LINE 6 DURING 2018 THE CREDIT UNION HAD 12 VOLUNTEERS; WHICH CONSISTED OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE.