2019-03-06T15:51:36-06:00 2016-12-31 KPMG LLP 500 Capitol Mall Suite 2100 Sacramento CA 95814 990 2016-01-01 940362025 GOLDEN 1 CREDIT UNION % ALLYSON HILL SVP/CFO GOLD 9167322900 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 ALLYSON HILL SVP-CFO 9167322900 2019-03-04 true MARC HOLLIS P00231474 9164484700 2019-01-18 167.68.102.5 68051020173045000000 2017-10-31 P 867DFF253AEE71F5D1EA92A7D484EE785EADDF34 AF0E69B5B8C9A6D50FBA4DBC4B5BF6CDC7477AF1 2016 2019-02-21 02:37:17Z X DONNA A BLAND 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 613946601 false X WWW.GOLDEN1.COM X 1933 CA THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE. 11 11 2008 16 5758613 1265057 0 0 204900319 242858278 53351989 56914904 85697939 99384021 343950247 399157203 0 0 0 0 110388367 115313217 0 0 0 163912503 194129293 274300870 309442510 69649377 89714693 9676953370 10617388977 8542365552 9395668766 1134587818 1221720211 THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE. THE PURPOSE OF THE CORPORATION IS TO ENGAGE IN CREDIT UNION BUSINESS AND ANY OTHER LAWFUL ACTIVITIES WHICH ARE NOT PROHIBITED TO A CREDIT UNION BY APPLICABLE LAWS OR REGULATIONS. false false GOLDEN 1 OFFERS AN ARRAY OF DEPOSIT PRODUCTS TO OUR MEMBERSHIP, INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRAS AND CERTIFICATES. WHILE EARNING COMPETITIVE DIVIDEND RATES, OUR MEMBERSHIP CAN ACCESS THEIR DEPOSITS THROUGH OUR BRANCH NETWORK, VIA AN ATM, ONLINE OR BY CALLING OUR MEMBER SERVICE CONTACT CENTER. GOLDEN 1 OFFERS AN ARRAY OF COMPETITIVE LOAN OPTIONS TO OUR MEMBERSHIP, INCLUDING NEW AND USED AUTO, FIRST MORTGAGE, HOME EQUITY, CREDIT CARD AND PERSONAL LOANS. GOLDEN 1 STRIVES TO MAINTAIN COMPETITIVE PRICING AND A VARIETY OF LOAN PRODUCTS THAT MEET OUR MEMBER'S BORROWING NEEDS. MEMBERS CAN APPLY FOR LOANS IN A BRANCH, ONLINE, OR AT AN AUTO DEALERSHIP. GOLDEN 1 OFFERS OUR MEMBERS AN ARRAY OF INSURANCE AND INVESTMENT-RELATED PRODUCTS SUCH AS CREDIT LIFE/CREDIT DISABILITY, MECHANICAL BREAKDOWN INSURANCE, GUARANTEED ASSET PROTECTION AND FINANCIAL CONSULTING. false false true false false false false false false true true false true true true true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 195707 0 true 2008 true true true false false false false false X 11 11 false false false false true true true true true false true true true true true true true true true true false CA X X ALLYSON HILL SVPCFO 9167322900 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 Ting Lan Sun DIRECTOR, CHAIR 5.0 0.0 X 0 0 0 Craig Brown DIRECTOR, SECRETARY/TREASURER 5.0 0.0 X 0 0 0 Paris Coleman DIRECTOR, VICE CHAIR 5.0 0.0 X 0 0 0 P Craig Cornett DIRECTOR 5.0 0.0 X 0 0 0 James Gomez DIRECTOR 5.0 0.0 X 0 0 0 Cassandra Jennings DIRECTOR 5.0 0.0 X 0 0 0 Aeisha Mastagni DIRECTOR 5.0 0.0 X 0 0 0 Thomas P McCaffery DIRECTOR 5.0 0.0 X 0 0 0 Pedro Reyes DIRECTOR 5.0 0.0 X 0 0 0 Keri L Thomas DIRECTOR 5.0 0.0 X 0 0 0 John Harrigan DIRECTOR 5.0 0.0 X 0 0 0 Donna Bland PRESIDENT/CEO 60.0 0.0 X 746504 0 42511 Richard Musci EVP/PRODUCTS AND DELIVERY 60.0 0.0 X 423877 0 34878 Dustin Luton EVP/FINANCE RISK & ADMIN 60.0 0.0 X 363045 0 39562 Douglas Aguiar SVP/CHIEF MARKETING OFFICER 60.0 0.0 X 232537 0 46042 Greg Brown SVP/CHIEF LENDING OFFICER 60.0 0.0 X 313053 0 32380 Jose Delgado SVP/CHIEF RETAIL OFFICER 60.0 0.0 X 249524 0 35062 Elizabeth Freeman SVP-INV OFF/STRATEGIC PLANNING 60.0 0.0 X 306558 0 39562 Tommy Genessy SVP/CHIEF OPERATING OFFICER 60.0 0.0 X 396904 0 39562 George Myers SVP/Chief HR OFFICER 60.0 0.0 X 191092 0 23399 Valorie Scott SVP/CHIEF TECH & INNOVATION 60.0 0.0 X 123813 0 11977 Walter Anasovitch VP - MEMBER CARE & CREDIT RISK 50.0 0.0 X 208628 0 12425 Chad Carrington VP - IT INFRAS. & FACILITIES 50.0 0.0 X 229043 0 22375 James Deas VP - BRANCH CHANNEL DELIVERY 50.0 0.0 X 196620 0 32888 Tamara Ferrin VP - FINANCE 50.0 0.0 X 221912 0 12683 Allyson Hill VP - CONTROLLER 50.0 0.0 X 228661 0 13443 Michael Popp VP - Home Loans 50.0 0.0 X 227904 0 37279 Harpal Sidhu VP - IT APPLICATIONS 50.0 0.0 X 234008 0 17743 Kathy Flynn VP - ACCOUNT SERVICES 50.0 0.0 X 212313 0 21755 Ryan Kelly VP - AUDIT SERVICES 50.0 0.0 X 150745 0 30805 Erica Taylor VP - COMM & COMNTY RELATIONS 50.0 0.0 X 169899 0 12244 Kara Giano Director of Compliance 50.0 0.0 X 194004 0 11310 Tammy Davis SrMgr - Comm & Comnty Relation 50.0 0.0 X 178494 0 26659 Eric Burgess SrMgr - Home Loan Prodction 50.0 0.0 X 188524 0 30673 Terri Bertrand Home Loan External Advisor 50.0 0.0 X 229360 0 22040 Brandee Stephens Home Loan External Advisor 50.0 0.0 X 334180 0 27601 Machelle Martin VP - HR,TRAINING & DEVELOPMENT 50.0 0.0 X 106025 0 7874 Keith Caldwell Retail Process Delivery Admin 50.0 0.0 X 101155 0 11138 Anthony Cowell Home Loan External Production 50.0 0.0 X 149768 0 23648 Nicholas Hannemann Home Loan External Advisor 50.0 0.0 X 112046 0 20947 Peter Snyder VP - Financial Services 50.0 0.0 X 234008 0 17035 7254204 0 757500 30 true true false BUCHALTER NEMER 1000 WILSHIRE BLVD SUITE 1500 LOS ANGELES CA 900172457 ATTORNEY-LEGAL SERV. 701735 DNA BRAND MECHANICS 1301 FIFTH AVENUE SUITE 2600 SEATTLE WA 98101 ADVERTISING 6446560 SACRAMENTO SPORTS PARTNERS LLC 660 J SreeT SACRAMENTO CA 95812 Advertising 9000000 SACRAMENTO KINGS 660 J Sreet SACRAMENTO CA 95812 Advertising 6000000 KPMG LLP Dept 0922 PO Box 120922 DALLAS TX 753120922 CONSULTING AND AUDIT 1147038 5 0 INTEREST INCOME - LOANS 522200 242858278 242858278 242858278 50923833 50923833 0 0 0 0 0 220099978 25789 214332905 456493 5767073 -430704 5991071 5991071 0 0 0 0 0 0 0 0 0 CHECKING ACCOUNTS FEE INCOME 522100 26483089 26483089 STAR NETWORK FEE INCOME 522100 19518225 19518225 DEBIT CARD INCOME 522100 30789508 30789508 22593199 16834586 5758613 99384021 399157203 393398590 5758613 0 0 0 0 8011704 0 79624448 6587252 13626022 7463791 0 785508 655077 0 0 0 4659397 15098663 13955906 9764244 0 15942228 639053 0 398920 5625688 0 14413497 779101 DISBURSEMENTS TO MEMBERS 27562104 PROVISION FOR LOAN LOSSES 22334535 PRODUCT SERVICES 27217660 ATM EXPENSES 20255867 14041845 309442510 127322507 147749233 0 0 0 0 492342122 462093461 0 6763866 0 0 5732796136 7322270911 0 0 0 0 175074952 101739772 75080629 73335180 0 0 2766313715 2055261151 0 0 0 0 483098261 549915175 9676953370 10617388977 2335436 2304551 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8540030116 9393364215 8542365552 9395668766 X 0 0 0 0 1134587818 1221720211 1134587818 1221720211 9676953370 10617388977 X 89714693 -2582300 X false true true false 3290 3290 3290 true CA CREDIT UNION LEAGUE PAC 9500 CLEVELAND AVE SUITE 200 RANCHO CUCAMONGA CA 91730 942329967 3290 FORM 990 SCHEDULE C, PART 1-A, LINE 1 THE GOLDEN 1 CREDIT UNION CONTRIBUTED TO THE CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE (PAC) DURING 2016. 7634026 7634026 48804065 16903822 31900243 118636861 84835950 33800911 73335180 US GOVERNMENT AGENCY OBL.-AFS 1512381743 F ANTICIPATION NOTES - HTM 30023172 C US GOVERNMENT AGENCY OBL.-HTM 512856236 C 2055261151 PAYROLL DEDUCTION RECEIVABLE 397680249 OTHER ASSETS 152234926 549915175 0 REGULAR SHARES 2073713049 SHARE DRAFTS AND MM ACCOUNTS 5588916665 TERM SHARE CERTIFICATES 1610606363 OTHER LIABILITIES 120128138 9393364215 X 400818475 1661272 1661272 399157203 399157203 309873214 430704 430704 309442510 309442510 FORM 990 In accordance with FASB ASC Subtopic 740-10 - Income Taxes - Overall, the Credit Union recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The amount of unrecognized tax benefits at December 31, 2016 and 2015 was $ 28,939 and $47,111, respectively, including interest and penalties, and is reported in other liabilities. As of December 31, 2016 and 2015, the Credit Union had accrued $7,302 and $11,888 respectively, for the interest and penalties related to unrecognized tax benefits, which is classified as other liabilities in the balance sheet. X X true true X X X X true true false Donna Bland PRESIDENT/CEO 559220 0 146000 0 41284 0 15900 0 26611 0 789015 0 0 0 Richard Musci EVP/PRODUCTS AND DELIVERY 291061 0 87681 0 45135 0 15900 0 18978 0 458755 0 0 0 Dustin Luton EVP/FINANCE RISK & ADMIN 277203 0 48791 0 37051 0 15900 0 23662 0 402607 0 0 0 Douglas Aguiar SVP/CHIEF MARKETING OFFICER 187407 0 9908 0 35222 0 13495 0 32547 0 278579 0 0 0 Greg Brown SVP/CHIEF LENDING OFFICER 238080 0 54752 0 20221 0 15900 0 16480 0 345433 0 0 0 Jose Delgado SVP/CHIEF RETAIL OFFICER 240461 0 8252 0 811 0 7748 0 27314 0 284586 0 0 0 Elizabeth Freeman SVP-INV OFF/STRATEGIC PLANNING 232564 0 54720 0 19274 0 15900 0 23662 0 346120 0 0 0 Tommy Genessy SVP/CHIEF OPERATING OFFICER 289339 0 70472 0 37093 0 15900 0 23662 0 436466 0 0 0 Walter Anasovitch VP - MEMBER CARE & CREDIT RISK 158304 0 30771 0 19553 0 12425 0 0 0 221053 0 0 0 Chad Carrington VP - IT INFRAS. & FACILITIES 167180 0 38843 0 23020 0 13863 0 8512 0 251418 0 0 0 James Deas VP - BRANCH CHANNEL DELIVERY 163529 0 26928 0 6163 0 11710 0 21178 0 229508 0 0 0 Tamara Ferrin VP - FINANCE 167510 0 36041 0 18361 0 12683 0 0 0 234595 0 0 0 Kara Giano Director of Compliance 127919 0 29576 0 36509 0 11310 0 0 0 205314 0 0 0 Allyson Hill VP - CONTROLLER 156411 0 35913 0 36337 0 13113 0 330 0 242104 0 0 0 Machelle Martin VP - HR,TRAINING & DEVELOPMENT 77141 0 22476 0 6408 0 3754 0 4120 0 113899 0 0 0 Michael Popp VP - Home Loans 187326 0 33147 0 7431 0 13655 0 23624 0 265183 0 0 0 Harpal Sidhu VP - IT APPLICATIONS 181003 0 34609 0 18396 0 13555 0 4188 0 251751 0 0 0 Tammy Davis SrMgr - Comm & Comnty Relation 101351 0 51977 0 25166 0 10893 0 15766 0 205153 0 0 0 Eric Burgess SrMgr - Home Loan Prodction 184374 0 0 0 4150 0 7452 0 23221 0 219197 0 0 0 George Myers SVP/Chief HR OFFICER 166448 0 0 0 24644 0 9750 0 13649 0 214491 0 0 0 Keith Caldwell Retail Process Delivery Admin 99507 0 0 0 1648 0 3773 0 7365 0 112293 0 0 0 Anthony Cowell Home Loan External Production 142490 0 0 0 7278 0 8817 0 14831 0 173416 0 0 0 Nicholas Hannemann Home Loan External Advisor 97655 0 0 0 14391 0 6301 0 14646 0 132993 0 0 0 Peter Snyder VP - Financial Services 228312 0 0 0 5696 0 6048 0 10987 0 251043 0 0 0 Kathy Flynn VP - ACCOUNT SERVICES 167989 0 33252 0 11072 0 12884 0 8871 0 234068 0 0 0 Ryan Kelly VP - AUDIT SERVICES 136869 0 5803 0 8073 0 9363 0 21442 0 181550 0 0 0 Erica Taylor VP - COMM & COMNTY RELATIONS 138715 0 17250 0 13934 0 10221 0 2023 0 182143 0 0 0 Terri Bertrand Home Loan External Advisor 211360 0 0 0 18000 0 13879 0 8161 0 251400 0 0 0 Brandee Stephens Home Loan External Advisor 328725 0 0 0 5455 0 12072 0 15529 0 361781 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A THE CREDIT UNION WILL REIMBURSE A DIRECTOR FOR REASONABLE ACTUAL EXPENSES INCURRED IN CONNECTION WITH ATTENDING APPROVED CONFERENCES, SEMINARS, AND OTHER BUSINESS FUNCTIONS. REIMBURSEMENT MAY INCLUDE EXPENSES FOR ONE IMMEDIATE FAMILY MEMBER TO FACILITATE TRAVEL TO AND FROM SUCH EVENT PER GOLDEN 1'S BOARD TRAVEL POLICY. FORM 990, SCHEDULE J, PART I, LINE 2 GOLDEN 1 PROVIDED A HOUSING ALLOWANCE TO TWO SVP'S DURING 2016 FOR THEIR RELOCATION. FORM 990, SCHEDULE J, PART I, LINE 4B DONNA BLAND, PRESIDENT AND CEO, PARTICIPATES IN A SPLIT DOLLAR LIFE INSURANCE PLAN AS APPROVED BY THE BOARD OF DIRECTORS. Donna Bland CEO Split Dollar Loan X 6752218 6763866 false true true 6763866 FORM 990, PART VI, LINE 7A The Golden 1 Credit Union members have the right to vote for the election of Directors. The Golden 1 has one class of members that shall be restricted to the persons and organizations having specific affiliations or identifying characteristics established by the Board of Directors in our Field of Membership. The Golden 1's Field of Membership includes persons who live and/or regularly work in one of our regulatory-permissible community charter counties and employees and immediate family members of our regulatory-permissible organizations. FORM 990, PART VI, LINE 7B THE GOLDEN 1 CREDIT UNION MEMBERS, BY A TWO-THIRDS (2/3) VOTE, SHALL HAVE THE POWER TO REVIEW THE ACTS AND REVERSE THE DECISIONS OF THE BOARD OF DIRECTORS OF THIS CREDIT UNION. FORM 990, PART VI, LINE 11A/11B The 2016 Form 990 was reviewed by Golden 1's Board of Directors in advance of filing. A committee of the Golden 1 Board of Directors was designated to review the Form 990, in advance of the October 26, 2017 Golden 1 Board Meeting. Copies of the 2016 Form 990 were provided to the full Golden 1 Board, and at the recommendation of the committee of Board members, the Golden 1 Board of Directors approved (as filed) the 2016 Form 990 on October 26, 2017. FORM 990, PART VI, LINE 12C In accordance with Board Policy, The Golden 1 requires all elected officials, committee members, officers, managers and other key employees designated by the Chief Executive Office to receive, complete, and sign an annual Statement of Disclosure Form. The Statement of Disclosure asks a series of questions pertaining to potential conflicts of interest. The Golden 1 Administration Department coordinates the distribution, collection and exception review of the completed statements. Golden 1's Internal Audit Department performs an annual audit of the Statement of Disclosures to ensure compliance with Board Policy, timeliness of the process and appropriate review of completed statements. On an annual basis, the Board also reviews and approves the related Board Policy and Statement of Disclosure Form. FORM 990, PART VI, LINE 15A/15B Officers of The Golden 1 Credit Union include the Chief Executive Officer (CEO), EXECUTIVE VICE PRESIDENT (EVPS), and Senior Vice Presidents (SVPs). The compensation review process for Officers is as follows: CEO COMPENSATION: A committee consisting of four members from the Board of Directors (called the CEO Compensation Committee) is formed each year to review CEO Compensation. The Chairman of this Committee directs the SVP/Chief Human Resources Officer to provide pay trend information for review and consideration taking into consideration asset size, business scope, and overall complexity of the operations. Similar industry and banking surveys are used for comparison purposes. The results, which are provided to the Committee, compares benchmark base pay, incentive pay, and total compensation to Golden 1's current CEO compensation package. After review and consideration, the Committee provides a recommendation to the full Board of Directors for approval. THE DECISION IS DOCUMENTED CONTEMPOARENOUSLY AND MAINTAINED IN HUMAN RESOURCES. SVP COMPENSATION: A similar analysis is performed for the SVPs as requested by the President & CEO. Similar industry and banking surveys are used as referenced above. An overall competitive analysis is performed by the SVP/Chief Human Resources Officer and the results and supporting documentation are presented to the CEO. FORM 990, PART VI, LINE 19 The Golden 1 Credit Union's Form 990 will be available on GuideStar.org for public inspection. The Golden 1 Credit Union's quarterly National Credit Union Administration (NCUA) Call 5300 Report contains financial and statistical data. This regulatory report is available for public inspection online at NCUA.gov. Golden 1's Annual Report is publically available on our website at golden1.com. Golden 1 members may request copies of financial statements by calling our Member Service Contact Center. FORM 990, PART VI, LINE 6 The Golden 1 Credit Union provides financial services for its regulatory-permissible field of membership. FORM 990, PART IV, LINE 26 Loans from the credit union to interested persons were made on the same terms as offered to other members of the credit union. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCE: CHANGE IN OTHER COMPREHENSIVE LOSS (4,243,572) UNREALIZED GAINS ON INVESTMENTS 1,661,272 ------------- TOTAL (2,582,300) =============