2019-05-13T16:10:35-07:00 2018-12-31 990 2018-01-01 941417215 DOW GREAT WESTERN CREDIT UNION DOWG 9253311010 4041 Lone Tree Way Suite 100 Antioch CA 94531 Paul Kramer CEO 9253311010 2019-05-10 216.31.238.130 2018 2019-02-21 02:37:17Z Paul Kramer 4041 Lone Tree Way Suite 100 Antioch CA 94531 1627383 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 12/31/18 was 2158 with 779 loans totaling $22,384,970 and with 4050 share deposit accounts totaling $40,108,208 8 8 8 8 3954 -3954 0 0 903540 1054133 520994 573250 0 0 1424534 1627383 0 0 0 0 483856 587277 0 0 0 820978 860315 1304834 1447592 119700 179791 47456139 45208736 42707637 40280443 4748502 4928293 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 12/31/18 was 2158 with 779 loans totaling $22,384,970 and with 4050 share deposit accounts totaling $40,108,208 0 0 1447592 0 1627383 Regarding members and the member deposit side of the balance sheet, members gain from 2128 to 2158. And member deposit accounts increased from 4002 $42,364,164 to 4050 decreased amount to $40108,208. Dividend Interest paid on these accounts for the year was $84,548. Checking accounts increased from 1108 to 1152. 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 725 loans made for $9,262573 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 1447592 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 815 0 1 8 1 1 1 0 0 0 0 0 0 0 X 8 8 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 John Jacobson Vice Chairperson 4 X 0 0 0 Curtis Tong Director 2 X 0 0 0 Karen Harvey Secretary 2 X 0 0 0 Steven McAdams Director 2 X 0 0 0 Art Solis Director 2 X 0 0 0 Sally Siemak Director 0 2 X 0 0 0 Jeff Noyer Director 3 X 0 0 0 David Parks Chairperson 4 X 0 0 0 Paul Kramer CEO 50 X X X X X 123205 0 3929 123205 0 3929 1 0 0 0 FISERV 255 FISERV Drive Brookfield WI 53045 Information Systems 174311 Bluerock Partners LLC 1200 Concord Avenue Suite 200 Concord CA 94520 Leased Office Space 249314 2 0 Member Loan Interest 522100 888856 888856 0 0 165277 161323 3954 0 1054133 573250 573250 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1627383 1623429 3954 0 0 0 0 0 0 0 0 0 123205 123205 0 0 329871 329871 25829 25829 68856 68856 39516 39516 0 0 0 0 0 0 0 0 0 0 47732 47732 20017 20017 87529 87529 243957 243957 0 0 295536 295536 5800 5800 0 0 6096 6096 84548 84548 0 0 16867 16867 18332 18332 Association Membership Dues 16633 16633 0 0 Provision for Loan Losses 48172 48172 0 0 NCUSIF Ins Refund -30904 -30904 0 0 1447592 1447592 0 0 290334 371591 0 0 0 0 9473 51061 0 0 0 0 18911131 22333629 0 0 115698 117519 1287288 955414 383656 331874 0 0 0 0 27197565 21438550 0 548282 564512 47456139 45208736 208742 98900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 42498895 40181543 42707637 40280443 X 0 0 0 0 4748502 4928293 4748502 4928293 47456139 45208736 179791 0 0 0 0 0 X 0 1 X 1 0 0 0 0 0 0 0 0 853332 0 539073 314259 433956 0 416341 17615 0 0 0 0 331874 Credit union and Bank Certificate Deposits 17046000 C Corporate Credit Union Deposits 1442452 C Investment in Corporate Credit Union 68479 C Investment in Credit Union Service Organization 26485 C Investment to Prefund Employee Benefits 2855134 C 21438550 3662 Other Withholding 1242 General Ledger Clearing Accounts 68431 Member Share Deposits 40108208 40181543 X 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 union's tax returns to determine whether the tax 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-tan-not threshold would be reported as tax expense and liability in the current year. For year ended June 30, 2018, management has 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 goods and services purchased by the credit union. 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 requests. Its most recent Financial Statement are posted monthly in the credit union. Other governing documents are made available on a case to case basis.