2019-10-31T18:29:50-05:00 2018-12-31 KPMG LLP 500 Capitol Mall Suite 2100 Sacramento CA 95814 990 2018-01-01 940362025 THE GOLDEN 1 CREDIT UNION % ALLYSON HILL SVP/CFO GOLD 9167322900 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 ALLYSON HILL SVP-CFO 9167322900 2019-10-25 true MARC HOLLIS P00231474 9164484700 2019-10-23 199.207.253.101 68051020193045000001 2019-10-31 P 81AB044BCC501FFB8E36B1E1C835C453D921BCB8 FA88369C4C40E7D9D43FE142B88F5BBDB571FCE0 2018 2020-03-31 21:24:44Z DONNA A BLAND 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 716254750 false X WWW.GOLDEN1.COM X 1933 CA THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE. 11 11 2248 16 8935501 1086899 0 0 281684200 315932077 69128218 66071258 102749436 101452890 453561854 483456225 0 0 0 0 127956122 133218889 0 0 0 237849755 256822866 365805877 390041755 87755977 93414470 11486760824 12255270007 10187619202 10862192247 1299141622 1393077760 THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE TO OUR MEMBERS. 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 false 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 214599 0 true 2248 true true true false false 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 Paris Coleman Director, Vice Chair 5.0 0.0 X 0 0 0 Craig Brown Director, Secretary/Treasurer 5.0 0.0 X 0 0 0 Keeley Bosler Director 6.0 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 John Harrigan Director 5.0 0.0 X 0 0 0 Cassandra Jennings Director 5.0 0.0 X 0 0 0 Samantha Lui Director 5.0 0.0 X 0 0 0 Aeisha Mastagni Director 5.0 0.0 X 0 0 0 Keri L Thomas Director 5.0 0.0 X 0 0 0 Donna Bland President/CEO 60.0 0.0 X 774536 0 43807 Tommy Genessy EVP/Service Ops, Security, Tec 60.0 0.0 X 431550 0 43807 Dustin Luton EVP/Finance Risk & Admin 60.0 0.0 X 400691 0 36199 Richard Musci EVP/Products and Delivery 60.0 0.0 X 436348 0 30134 Heather Andrade-Neumann SVP/Chief HR Officer 60.0 0.0 X 96696 0 9850 Douglas Aguiar SVP/Chief Marketing Officer 60.0 0.0 X 268623 0 32174 Greg Brown SVP/Chief Lending Officer 60.0 0.0 X 328150 0 32230 Chad Carrington SVP/Security, Tech, Infrastr 60.0 0.0 X 278538 0 24025 Kathy Flynn SVP/Service Operations 60.0 0.0 X 268800 0 24907 Allyson Hill SVP/CFO 60.0 0.0 X 336106 0 16800 Courtney Linn SVP/General Counsel 60.0 0.0 X 321320 0 25244 Michael Popp SVP/Chief Retail Officer 60.0 0.0 X 267923 0 38799 Walter Anasovitch VP- Member Care 50.0 0.0 X 209170 0 35762 Diana Forti Isales VP- Cards 50.0 0.0 X 202863 0 25849 Marlen Foster VP- Digital Channel Delivery 50.0 0.0 X 227517 0 27260 Elizabeth Freeman-Rogers VP - Investment Officer 50.0 0.0 X 233940 0 40201 Joseph Harrison VP - Compliance Officer 50.0 0.0 X 186147 0 30226 Ryan Kelly VP- Audit Services 50.0 0.0 X 182262 0 30080 Ryan Little VP- Consumer Lending 50.0 0.0 X 225253 0 38033 Kyle Long VP-Corporate Strategy 50.0 0.0 X 164930 0 30302 Molly Mallinson VP- Integrated Solutions 50.0 0.0 X 196928 0 25922 Erica Taylor VP- Communications & Community 50.0 0.0 X 189229 0 13518 John Tennant VP - Contact Center 50.0 0.0 X 155577 0 25783 Harpal Sidhu VP- IT Applications 50.0 0.0 X 235339 0 37048 Denise Zboralske VP - Finance 50.0 0.0 X 175827 0 34255 Terri Bertrand Home Loan External Advisor 50.0 0.0 X 215520 0 20387 Steven Frith Financial Consultant 50.0 0.0 X 200443 0 27618 Lew Lemon Financial Consultant 50.0 0.0 X 194792 0 13618 Gary Paul Financial Consultant 50.0 0.0 X 196086 0 21620 Joshua Summerhays Financial Consultant 50.0 0.0 X 202226 0 38777 Nicole Bloss User Interface Designer 50.0 0.0 X 129379 0 11763 James Deas VP- Branch Channel Delivery 50.0 0.0 X 216567 0 10152 Jose Delgado SVP/Chief Retail Officer 50.0 0.0 X 270554 0 8351 Daniel Draper Senior Manager- IT 50.0 0.0 X 103360 0 6047 Samuel Eddings Manager- IT 50.0 0.0 X 126974 0 4623 George Myers SVP/Chief HR Officer 50.0 0.0 X 328603 0 10750 Anita Massey Senior Manager- Branch Channel 50.0 0.0 X 131875 0 9270 Mason McCartney Regional Product Manager 50.0 0.0 X 127082 0 23707 Anthony Paro Manager- Talent Acquisition 50.0 0.0 X 110116 0 11047 9347840 0 969945 38 true true false Sacramento Kings 660 J Sreet SACRAMENTO CA 95812 Advertising 6005000 DNA BRAND MECHANICS 1301 FIFTH AVENUE SUITE 2600 SEATTLE WA 98101 ADVERTISING 5975611 Buchalter Nemer 1000 Wilshire Blvd Suite 1500 LOS ANGELES CA 900172457 Attorney-Legal Serv 519422 Printing By Design PO Box 103 RESCUE CA 95672 Printing Services 623033 Allied Universal Security Services PO BOX 31001-2374 PASADENA CA 911102374 Security Services 491334 5 0 INTEREST INCOME - LOANS 522200 315932077 315932077 315932077 63603271 63603271 0 0 0 0 0 194946422 40320090 192551720 40246805 2394702 73285 2467987 2467987 0 0 0 0 0 0 0 0 0 CHECKING ACCOUNTS FEE INCOME 522100 30948092 30948092 STAR NETWORK FEE INCOME 522100 21326538 21326538 DEBIT CARD INCOME 522100 20544878 20544878 28633382 28633382 101452890 483456225 483456225 8935501 0 0 0 0 10317785 0 90326151 8688347 15509157 8377449 0 5433949 649208 0 0 0 3975467 16220956 13815005 12470820 0 16516365 1039724 0 637089 4498015 0 15681679 657465 DISBURSEMENTS TO MEMBERS 40073727 PROVISION FOR LOAN LOSSES 59546846 PRODUCT SERVICES 30383142 ATM EXPENSES 24157980 11065429 390041755 155135401 121463144 0 0 0 0 767141272 762374832 6903637 15854550 0 0 8110335887 8750716550 0 0 0 0 178187676 104482606 75111416 73705070 0 0 1807183990 1933048257 0 0 0 0 564949221 598107604 11486760824 12255270007 2611164 4430116 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10185008038 10857762131 10187619202 10862192247 X 0 0 0 0 1299141622 1393077760 1299141622 1393077760 11486760824 12255270007 X 93414470 521668 X false true true false 9500 9500 9500 true CA CREDIT UNION LEAGUE PAC 9500 CLEVELAND AVE SUITE 200 RANCHO CUCAMONGA CA 91730 942329967 9500 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 2018. 7634026 7634026 50579739 20605665 29974076 119973911 83876942 36096968 73705070 US GOVERNMENT AGENCY OBL.-AFS 1454585069 F US GOVERNMENT AGENCY OBL.-HTM 478463188 C 1933048257 0 REGULAR SHARES 2719483030 SHARE DRAFTS AND MM ACCOUNTS 6116218870 TERM SHARE CERTIFICATES 1886444851 OTHER LIABILITIES 135615380 10857762131 484854719 1398494 1398494 483456225 483456225 390059318 17563 17563 390041755 390041755 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, 2018 and 2017 was $ 0 and $0 respectively, including interest and penalties. As of December 31, 2018 and 2017, the Credit Union had accrued $0 and $0 respectively, for the interest and penalties related to unrecognized tax benefits. X true true X X X X true true false Donna Bland President/CEO 572263 0 135225 0 67048 0 16500 0 27307 0 818343 0 0 0 Tommy Genessy EVP/Service Ops, Security, Tec 308593 0 63523 0 59434 0 16500 0 27307 0 475357 0 0 0 Dustin Luton EVP/Finance Risk & Admin 299617 0 62785 0 38289 0 16500 0 19699 0 436890 0 0 0 Richard Musci EVP/Products and Delivery 310761 0 75963 0 49624 0 16500 0 13634 0 466482 0 0 0 Douglas Aguiar SVP/Chief Marketing Officer 187964 0 43219 0 37440 0 16344 0 15830 0 300797 0 0 0 Greg Brown SVP/Chief Lending Officer 257048 0 49635 0 21467 0 16500 0 15730 0 360380 0 0 0 Chad Carrington SVP/Security, Tech, Infrastr 221949 0 31783 0 24806 0 16500 0 7525 0 302563 0 0 0 Kathy Flynn SVP/Service Operations 224846 0 30011 0 13943 0 16201 0 8706 0 293707 0 0 0 Allyson Hill SVP/CFO 236406 0 46375 0 53325 0 16500 0 300 0 352906 0 0 0 Courtney Linn SVP/General Counsel 236144 0 48258 0 36918 0 16500 0 8744 0 346564 0 0 0 Michael Popp SVP/Chief Retail Officer 215599 0 34321 0 18003 0 16006 0 22793 0 306722 0 0 0 Nicole Bloss User Interface Designer 126421 0 2406 0 552 0 3849 0 7914 0 141142 0 0 0 James Deas VP- Branch Channel Delivery 184469 0 28688 0 3410 0 6477 0 3675 0 226719 0 0 0 Jose Delgado SVP/Chief Retail Officer 221299 0 48576 0 679 0 4978 0 3373 0 278905 0 0 0 Daniel Draper Senior Manager- IT 88781 0 4141 0 10438 0 6047 0 0 0 109407 0 0 0 Samuel Eddings Manager- IT 122516 0 4119 0 339 0 3634 0 989 0 131597 0 0 0 George Myers SVP/Chief HR Officer 252090 0 51902 0 24611 0 9104 0 1646 0 339353 0 0 0 Anita Massey Senior Manager- Branch Channel 111486 0 4225 0 16164 0 7351 0 1919 0 141145 0 0 0 Mason McCartney Regional Product Manager 114940 0 0 0 12142 0 7500 0 16207 0 150789 0 0 0 Anthony Paro Manager- Talent Acquisition 102464 0 0 0 7652 0 5662 0 5385 0 121163 0 0 0 Walter Anasovitch VP- Member Care 160100 0 29027 0 20043 0 12969 0 22793 0 244932 0 0 0 Diana Forti Isales VP- Cards 165058 0 28001 0 9804 0 12511 0 13338 0 228712 0 0 0 Marlen Foster VP- Digital Channel Delivery 177882 0 30564 0 19071 0 14037 0 13223 0 254777 0 0 0 Elizabeth Freeman-Rogers VP - Investment Officer 154515 0 52038 0 27387 0 14110 0 26091 0 274141 0 0 0 Joseph Harrison VP - Compliance Officer 163374 0 10762 0 12011 0 11637 0 18589 0 216373 0 0 0 Ryan Kelly VP- Audit Services 147422 0 27129 0 7711 0 10081 0 19999 0 212342 0 0 0 Ryan Little VP- Consumer Lending 183089 0 29883 0 12281 0 13679 0 24354 0 263286 0 0 0 Kyle Long VP-Corporate Strategy 123603 0 23875 0 17452 0 10438 0 19864 0 195232 0 0 0 Molly Mallinson VP- Integrated Solutions 135056 0 24636 0 37236 0 11999 0 13923 0 222850 0 0 0 Erica Taylor VP- Communications & Community 148416 0 25316 0 15497 0 11368 0 2150 0 202747 0 0 0 John Tennant VP - Contact Center 135632 0 0 0 19945 0 9900 0 15883 0 181360 0 0 0 Harpal Sidhu VP- IT Applications 172813 0 31569 0 30957 0 14105 0 22943 0 272387 0 0 0 Denise Zboralske VP - Finance 147269 0 9602 0 18956 0 10894 0 23361 0 210082 0 0 0 Terri Bertrand Home Loan External Advisor 11183 0 183983 0 20354 0 13054 0 7333 0 235907 0 0 0 Steven Frith Financial Consultant 14264 0 171271 0 14908 0 12533 0 15085 0 228061 0 0 0 Lew Lemon Financial Consultant 18391 0 155927 0 20474 0 11602 0 2016 0 208410 0 0 0 Gary Paul Financial Consultant 16244 0 157044 0 22798 0 11684 0 9936 0 217706 0 0 0 Joshua Summerhays Financial Consultant 23435 0 171750 0 7041 0 12620 0 26157 0 241003 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 4A Two previous Senior Vice Presidents and one Vice President received severance payments during 2018. FORM 990, SCHEDULE J, PART I, LINE 4B DONNA BLAND, PRESIDENT AND CEO, AND THE THREE EXECUTIVE VICE PRESIDENTS PARTICIPATE IN A SPLIT DOLLAR LIFE INSURANCE PLAN AS APPROVED BY THE BOARD OF DIRECTORS. Donna Bland CEO Split Dollar Loan X 6752218 7046788 false true true Richard Musci EVP Split Dollar Loan X 1933000 1978893 false true true Tom Genessy EVP Split Dollar Loan X 3860500 3952155 false true true Dustin Luton EVP Split Dollar Loan X 2810000 2876714 false true true 15854550 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 A committee of the Golden 1 Board of Directors was designated to review the Form 990, in advance of the October 24, 2019 Golden 1 Board Meeting. The committee of Board members approved the 2018 Form 990 on October 21, 2019. Copies of the 2018 Form 990 were provided to the full Golden 1 Board in advance of the filing. 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 (876,824) UNREALIZED GAINS ON INVESTMENTS 355,156 ------------- TOTAL 521,668 ============= =============