2019-11-14T16:28:29-06:00 2018-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2018-01-01 951288265 WESCOM CENTRAL CREDIT UNION DBA WESCOM CREDIT UNION WESC 8884937266 123 SOUTH MARENGO AVENUE PASADENA CA 911012428 CINDY LAW VP/CONTROLLER 8884937266 2019-11-07 1 VALENTINO CREUS CPA P01054153 8189549700 108.95.190.209 2019-11-07 14:43:03 PS P 858CFD5BF01852FA2489562124A1344FB9A1C194 EAB9806DEF4238CAE74313C6CC2BD34B53E62B85 2018 2020-03-31 21:24:44Z CINDY LAW 123 SOUTH MARENGO AVENUE PASADENA CA 911012428 590784195 0 X WWW.WESCOM.ORG X CREDIT UNION 1934 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 11 11 894 16 24183465 0 0 0 142764489 163237087 33936664 37730770 3611 0 176704764 200967857 252548 220698 0 0 74167592 79745234 0 0 0 78075158 99886074 152495298 179852006 24209466 21115851 3363529588 3478388201 3095295778 3188131098 268233810 290257103 X THE GENERAL MISSION OF THE CREDIT UNION IS TO PROMOTE THRIFT, HONESTY, INTEGRITY AND A SPIRIT OF SERVICE AMONG ITS MEMBERS. IN ADDITION, THE ORGANIZATION MAKES LOANS TO ITS MEMBERS AT REASONABLE RATES, INVESTS EXCESS LIQUIDITY PRUDENTLY AND WITHIN LIMITS AS PERMITTED BY CALIFORNIA LAW, AND ENGAGES IN ANY OTHER LAWFUL ACTIVITY NOT PROHIBITED BY APPLICABLE LAWS AND REGULATIONS. 0 0 THE CREDIT UNION HAD $3.48 BILLION IN ASSETS, $2.29 BILLION IN LOANS AND $2.84 BILLION IN MEMBER DEPOSITS AS OF DECEMBER 31, 2018. THE CREDIT UNION POSTED NET EARNINGS OF $20.8 MILLION IN 2018. THE CREDIT UNION'S 2018 INITIATIVES INCLUDED MEMBERSHIP GROWTH, ENHANCING PRODUCTS AND SERVICES, INCREASED SERVICE IN OUR COMMUNITIES, DEVELOPMENTS IN DELIVERY CHANNELS, AND LOAN GROWTH. THE CREDIT UNION THROUGH ITS EMPLOYEES, MEMBERS, AND WECARE FOUNDATION DONATED OVER $190,000 TO CHARITIES IN 2018. THE CREDIT UNION ALSO PARTICIPATED IN THE NATIONAL MULTIPLE SCLEROSIS (MS) SOCIETY'S BIKE MS RIDE AND HAS BEEN THE HIGHEST FUNDRAISING CORPORATE TEAM IN RECENT YEARS. IN 2018, WESCOM CONTINUED TO EDUCATE MEMBERS AND COMMUNITIES BY OFFERING FINANCIAL EDUCATION WORKSHOPS, SEMINARS, AND ONLINE TOOLS AND RESOURCES. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 74488 0 1 894 1 1 1 0 0 0 0 0 0 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X CINDY LAW VPCONTROLLER 8884937266 123 SOUTH MARENGO AVENUE PASADENA CA 911012428 NOEL ROSS CHAIRMAN 2.00 X 11513 0 0 JAVIER MORALES VICE CHAIRMAN/SUPV CMTE CH 2.00 X 1786 0 0 DANIEL KRAUS SECRETARY 2.00 X 13160 0 0 RON FISCHER TREASURER 2.00 X 10922 0 0 GINA FRIEDRICH DIRECTOR 2.00 X 10558 0 0 PHILLIP PERKINS DIRECTOR 2.00 X 9587 0 0 JEFF LUONG DIRECTOR 2.00 X 1838 0 0 JULIE SINA DIRECTOR/SUPV CMTE MEMBER 2.00 X 0 0 0 ARMANDO NODAL DIRECTOR/SUPV CMTE MEMBER 2.00 X 1778 0 0 VIRGINIA PANOSSIAN DIRECTOR 2.00 X 5590 0 0 BRAD SELBY DIRECTOR 2.00 X 11281 0 0 LARRY MCCAULEY SUPV CMTE MEMBER 2.00 X 25 0 0 RICK WIEDEMANN SUPV CMTE MEMBER 2.00 X 6153 0 0 ROBERT GRAHAM DIRECTOR EMERITUS 2.00 X 1154 0 0 VICTOR MOY DIRECTOR EMERITUS 2.00 X 7507 0 0 WILL BROWN DIRECTOR EMERITUS 2.00 X 0 0 0 TOM SUTER DIRECTOR EMERITUS 2.00 X 5854 0 0 ADDISON CARTER DIRECTOR EMERITUS 2.00 X 0 0 0 MARK DILBECK DIRECTOR EMERITUS 2.00 X 0 0 0 LIZ WOOD DIRECTOR EMERITUS 2.00 X 5147 0 0 NORBERTA NOGUERA DIRECTOR EMERITUS 2.00 X 0 0 0 TIM DOLAN DIRECTOR EMERITUS 2.00 X 4000 0 0 KAMILLE DICKEY ASSOCIATE DIRECTOR 2.00 X 2234 0 0 KRISTINA DIXON ASSOCIATE DIRECTOR 2.00 X 1854 0 0 DAVID MARTIN ASSOCIATE DIRECTOR 2.00 X 1099 0 0 GARRET SCHNEIDER ASSOCIATE DIRECTOR 2.00 X 4394 0 0 HANI BHIMIJI ASSOCIATE DIRECTOR 2.00 X 1000 0 0 DAVID PEREZ ASSOCIATE DIRECTOR 2.00 X 0 0 0 JESSICA GUTIERREZ ASSOCIATE DIRECTOR 2.00 X 0 0 0 SHEMIKA JONES ASSOCIATE DIRECTOR 2.00 X 0 0 0 DARREN WILLIAMS PRESIDENT & CEO 40.00 X 2871599 0 68646 IRVING CHIU HENG YU SVP FINANCE & CFO 40.00 X 389975 0 50146 KEITH PIPES EVP LENDING & FINANCIAL SE 40.00 X 649908 0 17762 JANE WOOD FORMER EVP & COO 40.00 X 543838 0 23644 KEVIN SARBER SVP TECHNOLOGY & DELIVERY 40.00 X 453008 0 17762 CHARLES THOMAS SVP LENDING 40.00 X 398662 0 28685 DEENA OTTO SVP ADMINSTRATION 40.00 X 382417 0 29557 JONATHON ALLEN SVP FINANCIAL SVCS 40.00 X 368910 0 37999 MELISSA PEDERSON SVP MEMBER SERVICES 40.00 X 343886 0 20263 JONATHON BAUMAN VP REAL ESTATE AND DEFAULT 40.00 X 284238 0 38645 DAVID GUMPERT-HERSH VP BUSINESS ANALYTICS 40.00 X 272936 0 38911 CINDY CHING-CHING LAW VP FINANCE 40.00 X 268143 0 46710 RAFAEL GUERRA PRESIDENT WIS 40.00 X 259648 0 31532 CONNIE KNOX FORMER PRESIDENT WFS 40.00 X 232654 0 13295 VICTOR LOPEZ VP BRANCH OPERATIONS 40.00 X 232171 0 22331 KATHIE CHISM VP BRANCH OPERATIONS 40.00 X 230939 0 29691 ADRIANA WELCH VP CONSUMER LENDING 40.00 X 230336 0 20972 STEPHANIE WINKLER VP HUMAN RESOURCES 40.00 X 225841 0 21328 DAVID CERWINSKI VP SALES & CLIENT SERVICE 40.00 X 220072 0 28022 JEANNE BROWN VP RISK MGMT 40.00 X 219803 0 31360 SYLVIE OHANNESSIAN VP INTERNAL AUDIT 40.00 X 210818 0 13618 COLLEEN SAVAGE VP PAYMENT SYSTEMS 40.00 X 208126 0 13574 KAREN FALL VP MEMBER SVCS 40.00 X 205608 0 34310 RUSSELL DOUGLASS VP TREASURY 40.00 X 202759 0 34195 PAN KWE SR FINANCIAL ADVISOR 40.00 X 549093 0 36229 DANOVA CHOW SR FINANCIAL ADVISOR 40.00 X 324601 0 33315 DAVID JABCZENSKI INVESTMENT SERVICES MANAGER 40.00 X 231983 0 42252 BRIAN SEDLAK DIRECTOR APPLICATION DESIGN AND DEVELOPMENT 40.00 X 217569 0 20638 ASHANA JEFFERSON THORMAN WEALTH ADVISOR 40.00 X 198925 0 30840 11546900 0 876232 161 0 1 0 GRAIL BRAND DESIGN LLC 12 CORPORATE PLAZA DRIVE SUITE 200 NEWPORT BEACH CA 92660 ADVERTISING 2817224 SECURITAS SECURITY SERVICES 2099 S STATE COLLEGE BLVD SUITE 100 ANAHEIM CA 92806 SECURITY 651697 ROPES & GRAY LLP 800 BOYLSTON STREET - PRUDENTIAL TO BOSTON MA 02199 LEGAL SERVICES 270105 LERETA LLC 1123 PARK VIEW DR COVINA CA 91724 FINANCIAL SERVICES 263380 CROWE LLP PO BOX 51660 LOS ANGELES CA 90051 AUDIT SERVICES 222000 92 X INTEREST INCOME 522100 97241613 97216335 25278 FEE INCOME 522100 34747624 34165420 582204 OTHER OPERATING INCOME 522100 31247850 7671867 23575983 163237087 36540675 36540675 390826871 179562 389640326 176012 1186545 3550 1190095 1190095 200967857 176784392 24183465 0 X 220698 11546900 53086370 2814148 7708926 4588890 1408914 289045 1075804 8175694 14214846 4827172 7585734 1334139 31003680 10252754 911844 TAX EXPENSE 748596 LOAN SERVICING EXPENSE 11152783 PROVISION FOR LOAN AND 2940000 MISC. OPERATING EXPENSE 2860136 1104933 179852006 21291581 20753312 106036348 103171136 8203861 7754348 5656545 5466825 157671079 90870482 64302364 66800597 944557384 891846687 2141782775 2311341792 10849488 10690001 60849242 60563503 3363529588 3478388201 73905867 85380825 3021389911 3102750273 3095295778 3188131098 X 0 0 0 0 268233810 290257103 268233810 290257103 3363529588 3478388201 X 21115851 -9392473 10299915 X X 0 1 X 1 0 19800 19800 19800 1 CCUL - PAC 1201 K STREET 1050 SACRAMENTO CA 95814 940357265 19800 PART I-A, LINE 1: CONTRIBUTION TO CCUL - PAC 9390319 9390319 71179024 37294369 33884655 9426743 6980063 2446680 65979878 46596050 19383828 1695115 1695115 66800597 LOANS AND INVESTMENTS IN NATURAL PERSON CUS 200821 C ALL OTHER INVESTMENTS 17250000 F LOANS AND LEASES 2265108866 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 27235747 C LOANS HELD FOR SALE 1546358 C 2311341792 OTHER NOTES AND INTEREST PAYABLE 91348696 SHARES AND DEPOSITS 3010625617 DEFERRED REVENUE 775960 3102750273 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX AS FURTHER DISCUSSED IN NOTE 12. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARIES, WESCOM INSURANCE SERVICES, LLC, CUSO MORTGAGE, INC., WESCOM FINANCIAL SERVICES, LLC, AND WESCOM RESOURCES GROUP, LLC ARE SUBJECT TO STATE AND FEDERAL INCOME TAX. OPERATIONS OF THE WHOLLY OWNED SUBSIDIARIES RESULTED IN AN INSIGNIFICANT AMOUNT OF INCOME TAXES FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE SUBSIDIARIES ARE SUBJECT TO U.S. FEDERAL INCOME TAX AS WELL AS INCOME TAX OF THE STATE OF CALIFORNIA. THE SUBSIDIARIES ARE NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2013. THE SUBSIDIARIES RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN OTHER EXPENSE. THERE WERE NO INTEREST OR PENALTIES RECORDED IN 2018 AND 2017. 1 CHILDRENS MIRACLE NETWORK 4650 SUNSET BLVD LOS ANGELES CA 90027 870387205 501(C)(3) 91284 FMV TO INCREASE FUNDS AND AWARENESS FOR CHILDREN'S HOSPITAL LOS ANGELES WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT ROAD MADISON WI 53705 396093210 501(C)(3) 15000 FMV ADVOCATE INTERNATIONALLY TO ACHIEVE A BETTER LEGISLATIVE AND REGULATORY OUTCOME FOR CREDIT UNIONS AND THEIR MEMBERS. WESCOM'S WECARE FOUNDATION 123 SOUTH MARENGO AVE PASADENA CA 91101 311709115 501(C)(3) 100464 FMV TO PROVIDE FINANCIAL SUPPORT TO SPONSOR COMMUNITY SERVICE OPPORTUNITIES 3 0 X X 1 1 X X X X 1 1 0 DARREN WILLIAMS PRESIDENT & CEO 731137 0 420977 0 1719485 0 35000 0 33646 0 2940245 0 0 0 IRVING CHIU HENG YU SVP FINANCE & CFO 251477 0 120055 0 18443 0 16500 0 33646 0 440121 0 0 0 KEITH PIPES EVP LENDING & FINANCIAL SE 381454 0 249560 0 18894 0 16500 0 1262 0 667670 0 0 0 JANE WOOD FORMER EVP & COO 127527 0 260297 0 156014 0 19269 0 4375 0 567482 0 0 0 KEVIN SARBER SVP TECHNOLOGY & DELIVERY 309936 0 121908 0 21164 0 16500 0 1262 0 470770 0 0 0 CHARLES THOMAS SVP LENDING 266019 0 108241 0 24402 0 7186 0 21499 0 427347 0 0 0 DEENA OTTO SVP ADMINSTRATION 253067 0 124042 0 5308 0 13918 0 15639 0 411974 0 0 0 JONATHON ALLEN SVP FINANCIAL SVCS 272958 0 86766 0 9186 0 16500 0 21499 0 406909 0 0 0 MELISSA PEDERSON SVP MEMBER SERVICES 240240 0 83301 0 20345 0 11228 0 9035 0 364149 0 0 0 JONATHON BAUMAN VP REAL ESTATE AND DEFAULT 216175 0 61160 0 6903 0 16500 0 22145 0 322883 0 0 0 DAVID GUMPERT-HERSH VP BUSINESS ANALYTICS 204329 0 60344 0 8263 0 14820 0 24091 0 311847 0 0 0 CINDY CHING-CHING LAW VP FINANCE 199960 0 57533 0 10650 0 13138 0 33572 0 314853 0 0 0 RAFAEL GUERRA PRESIDENT WIS 193435 0 60932 0 5281 0 10136 0 21396 0 291180 0 0 0 CONNIE KNOX FORMER PRESIDENT WFS 84484 0 22818 0 125352 0 6749 0 6546 0 245949 0 0 0 VICTOR LOPEZ VP BRANCH OPERATIONS 170352 0 44713 0 17106 0 13969 0 8362 0 254502 0 0 0 KATHIE CHISM VP BRANCH OPERATIONS 159642 0 50896 0 20401 0 12445 0 17246 0 260630 0 0 0 ADRIANA WELCH VP CONSUMER LENDING 180387 0 48707 0 1242 0 13033 0 7939 0 251308 0 0 0 STEPHANIE WINKLER VP HUMAN RESOURCES 172347 0 48406 0 5088 0 0 0 21328 0 247169 0 0 0 DAVID CERWINSKI VP SALES & CLIENT SERVICE 158301 0 61236 0 535 0 11526 0 16496 0 248094 0 0 0 JEANNE BROWN VP RISK MGMT 169862 0 45604 0 4337 0 13284 0 18076 0 251163 0 0 0 SYLVIE OHANNESSIAN VP INTERNAL AUDIT 168477 0 37192 0 5149 0 12625 0 993 0 224436 0 0 0 COLLEEN SAVAGE VP PAYMENT SYSTEMS 160742 0 43998 0 3386 0 5710 0 7864 0 221700 0 0 0 KAREN FALL VP MEMBER SVCS 156497 0 44918 0 4193 0 10598 0 23712 0 239918 0 0 0 RUSSELL DOUGLASS VP TREASURY 172596 0 26720 0 3443 0 12327 0 21868 0 236954 0 0 0 PAN KWE SR FINANCIAL ADVISOR 0 0 541210 0 7883 0 12057 0 24172 0 585322 0 0 0 DANOVA CHOW SR FINANCIAL ADVISOR 0 0 324124 0 477 0 10376 0 22939 0 357916 0 0 0 DAVID JABCZENSKI INVESTMENT SERVICES MANAGER 116940 0 114620 0 423 0 9453 0 32799 0 274235 0 0 0 BRIAN SEDLAK DIRECTOR APPLICATION DESIGN AND DEV 186186 0 29676 0 1707 0 9322 0 11316 0 238207 0 0 0 ASHANA JEFFERSON THORMAN WEALTH ADVISOR 0 0 196540 0 2385 0 10040 0 20800 0 229765 0 0 0 PART I, LINE 1A PART 1, LINE 1A: TRAVEL FOR COMPANIONS THE PRESIDENT IS AUTHORIZED TO INCUR FIRST CLASS TRAVEL EXPENSES ON BEHALF OF HIS/HER SPOUSE PROVIDED THAT THE PRESIDENT SHALL BE RESPONSIBLE FOR ALL TAXES FOR ANY SUCH EXPENSES, AND THE TRAVEL IS RELATED TO THE CREDIT UNION AND IN THE BEST INTEREST OF THE CREDIT UNION. PART I, LINES 4A-B AN EMPLOYEE WHO IS A MEMBER OF A SELECT MANAGEMENT GROUP OR IS HIGHLY COMPENSATED IS ELIGIBLE TO PARTICIPATE IN A 457B PLAN EFFECTIVE ON THE FIRST DAY OF EMPLOYMENT. THE PARTICIPANT IS ELIGIBLE TO DEFER A MAXIMUM OF $18,500 IN THE 2018 PLAN YEAR. THE PRESIDENT/CEO OF THE CREDIT UNION IS ELIGIBLE TO PARTICIPATE IN A SEPARATE 457B PLAN EFFECTIVE ON THE FIRST DAY OF EMPLOYMENT. FOR EACH PLAN YEAR, THE CREDIT UNION WILL CONTRIBUTE TO THE PLAN THE FULL ELIGIBLE CONTRIBUTION AMOUNT. THE BENEFIT PROVIDED IS SUBJECT TO TAXATION UNDER SECTION 457B OF THE INTERNAL REVENUE CODE OF 1986. THE 2018 COMPENSATION DATA FOR MR. WILLIAMS INCLUDES A RETIREMENT PLAN DISTRIBUTION. THE 2018 COMPENSATION DATA FOR MRS. WOOD INCLUDES A RETIREMENT PLAN DISTRIBUTION. CONNIE KNOX RECEIVED A SEVERANCE PAYMENT OF $118,867.38 IN 2018. KEITH PIPES OFFICER 1ST MORTGAGE X 625500 533954 0 1 1 KEITH PIPES OFFICER CREDIT CARD X 24500 1159 0 1 1 KEVIN SARBER KEY EMPLOYEE 1ST MORTGAGE X 1300000 1094762 0 1 1 KEVIN SARBER KEY EMPLOYEE CREDIT CARD X 24500 5517 0 1 1 DAVID GUMPERT-HERSH KEY EMPLOYEE 1ST MORTGAGE X 652500 496867 0 1 1 DAVID GUMPERT-HERSH KEY EMPLOYEE HELOC X 72000 240999 0 1 1 CINDY CHING-CHING LAW KEY EMPLOYEE HELOC X 150000 13111 0 1 1 KATHIE CHISM KEY EMPLOYEE 1ST MORTGAGE X 585000 450742 0 1 1 KATHIE CHISM KEY EMPLOYEE AUTO LOAN X 48458 9147 0 1 1 KATHIE CHISM KEY EMPLOYEE CREDIT CARD X 19500 3079 0 1 1 IRVING YU OFFICER 1ST MORTGAGE X 440250 373943 0 1 1 IRVING YU OFFICER HELOC X 250000 45000 0 1 1 MELISSA PEDERSON KEY EMPLOYEE CREDIT CARD X 16500 14865 0 1 1 JONATHON BAUMAN KEY EMPLOYEE 1ST MORTGAGE X 209000 126723 0 1 1 DEENA OTTO KEY EMPLOYEE CREDIT CARD X 8000 28796 0 1 1 STEPHANIE WINKLER KEY EMPLOYEE AUTO LOAN X 54558 3917 0 1 1 DAVID CERWINSKI KEY EMPLOYEE 1ST MORTGAGE X 390000 340864 0 1 1 KAREN FALL KEY EMPLOYEE 1ST MORTGAGE X 181200 130431 0 1 0 KAREN FALL KEY EMPLOYEE HELOC X 49000 34089 0 1 1 KAREN FALL KEY EMPLOYEE CREDIT CARD X 9500 5145 0 1 1 DAVID CERWINSKI KEY EMPLOYEE 1ST MORTGAGE X 180000 168411 0 1 1 JONATHON BAUMAN KEY EMPLOYEE PERSONAL LOC X 18000 10712 0 1 1 ADRIANA WELCH KEY EMPLOYEE 1ST MORTGAGE X 799200 768068 0 1 1 KAREN FALL KEY EMPLOYEE AUTO LOAN X 36168 27645 0 1 1 VICTOR LOPEZ KEY EMPLOYEE 1ST MORTGAGE X 371000 350952 0 1 1 VICTOR LOPEZ KEY EMPLOYEE CREDIT CARD X 22780 3948 0 1 1 VICTOR LOPEZ KEY EMPLOYEE AUTO LOAN X 37947 27204 0 1 1 SYLVIE OHANNESSIAN KEY EMPLOYEE 1ST MORTGAGE X 682000 656712 0 1 1 MELISSA PEDERSON KEY EMPLOYEE AUTO LOAN X 43972 32881 0 1 1 COLLEEN SAVAGE KEY EMPLOYEE 1ST MORTGAGE X 150000 81458 0 1 1 COLLEEN SAVAGE KEY EMPLOYEE CREDIT CARD X 9713 1104 0 1 1 GARRET SCHNEIDER DIRECTOR CREDIT CARD X 4521 51 0 1 1 RUSSELL DOUGLASS KEY EMPLOYEE 1ST MORTGAGE X 438000 406373 0 1 1 MELISSA PEDERSON KEY EMPLOYEE 1ST MORTGAGE X 636000 620768 0 1 1 MELISSA PEDERSON KEY EMPLOYEE HELOC X 55000 54097 0 1 1 DAVID GUMPERT-HERSH KEY EMPLOYEE PERSONAL LINE OF CREDIT X 0 1485 0 1 1 CONNIE MONICA KNOX 1ST MORTGAGE X 636000 579653 0 1 1 CONNIE MONICA KNOX AUTO LOAN X 37027 9716 0 1 1 7754348 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS OWNED BY MEMBERS. MEMBERSHIP IS AVAILABLE TO ANY AND ALL PERSONS WHO LIVE, REGULARY WORK, CURRENTLY ATTEND SCHOOL, OR CURRENTLY WORSHIP IN THE SEVEN COUNTIES OF SOUTHERN CALIFORNIA. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS MEMBERS WHO MAY ELECT THE GOVERNING BODY. EACH MEMBER HAS ONE VOTE TO ELECT THE MEMBERS FOR THE GOVERNING BODY OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE DIRECTORS, ELECTIONS ARE HELD AND BOARD DECISIONS REGARDING ELECTION OR REMOVAL OF DIRECTORS ARE VOTED ON BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY THE VP CONTROLLER, THE SVP CHIEF FINANCIAL OFFICER, AND THE CEO OF THE ORGANIZATION. THE RETURN THEN GOES THROUGH A FINAL REVIEW BY THE BOARD OF DIRECTORS BEFORE FINAL SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS ENFORCED AND MONITORED THROUGH OUR VARIOUS REPORTING MECHANISMS (ETHICS POINT, OPEN DOOR COMMUNICATION POLICY, WHICH INCLUDES RECOMMENDING THAT EMPLOYEES DISCUSS THE ISSUES WITH THEIR MANAGER, HUMAN RESOURCES, SENIOR MANAGEMENT OR THE CEO), WE ADDRESS THE ISSUE AND USE OUR POLICY FOR GUIDANCE, WHICH PROMOTES CONSISTENCY. FORM 990, PART VI, SECTION B, LINE 15 CEO'S COMPENSATION: WESCOM CREDIT UNION'S BOARD OF DIRECTORS PARTNERS WITH A THIRD PARTY VENDOR TO PERFORM REGULAR REVIEWS TO ENSURE THAT THE PRESIDENT/CEO'S SALARY AND TARGET INCENTIVE REMAIN IN AN APPROPRIATE RELATIONSHIP TO THE MARKET. OUR THIRD PARTY CONSULTANT EXAMINES THE CURRENT COMPENSATION MARKET THROUGH AN ANALYSIS WHICH INCLUDES A CREDIT UNION PEER GROUP BASED ON ASSET SIZE AND FINANCIAL PERFORMANCE. IN ADDITION, THE PRESIDENT/CEO'S SUPPLEMENTAL RETIREMENT ACCOUNT IS REVIEWED WITH THE BOARD TO EVALUATE INVESTMENT PERFORMANCE AND TO CONSIDER ANY PROGRAM ADJUSTMENTS THAT NEED TO BE MADE TO ENSURE THE PROGRAM REMAINS APPROPRIATE TO THE MARKET. THE BOARD APPROVES ALL CHANGES TO THE PRESIDENT/CEO'S COMPENSATION AND SUPPLEMENTAL RETIREMENT PLANS. FORM 990, PART VI, SECTION B, LINE 15B: EXECUTIVE TEAM (OTHER OFFICERS) AND OTHER KEY EMPLOYEES' COMPENSATION: WESCOM CREDIT UNION PARTNERS WITH A THIRD PARTY TO PERFORM A PERIODIC REVIEW TO ENSURE THAT THE EXECUTIVE AND STAFF TEAM MEMBERS' SALARY RANGES AND TARGET INCENTIVES REMAIN IN AN APPROPRIATE RELATIONSHIP WITH THE MARKET. OUR THIRD PARTY CONSULTANT EXAMINES THE CURRENT COMPENSATION MARKET THROUGH AN ANALYSIS WHICH INCLUDES A CREDIT UNION PEER GROUP BASED ON ASSET SIZE AND FINANCIAL PERFORMANCE. THE HR COMMITTEE OF THE BOARD REVIEWS THE INFORMATION AND PREPARES A RECOMMENDATION FOR THE BOARD OF DIRECTORS APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. REQUESTS REGARDING GOVERNING DOCUMENTS AND CONFLICT OF INTERESTS CAN BE SUBMITTED TO THE ORGANIZATION AND COPIES WILL BE PROVIDED UPON REQUEST. FORM 990, PART VIII, LINE 7A - 7C, COLUMN (I): PROCEEDS $390,826,871 BASIS $389,640,326 ------------ GAIN $1,186,545 FORM 990, PART IX, LINE 24E: OPERATING FEES 1,061,479 MISC. OPERATING EXPENSE 2,860,136 ------------ TOTAL OTHER EXPENSES 3,921,615 FORM 990, PART XI, LINE 9: CY ADJ OTHER COMPEN INC PENSION PLAN -8,776. CY ADJ UNREALIZED GAINS (LOSSES) ON INTEREST RATE SWAPS 3,204,672. OTHER ADJUSTMENT TO UNDIVIDED EARNINGS 7,104,016. ROUNDING 3. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. WESCOM HOLDINGS LLC 123 SOUTH MARENGO AVENUE PASADENA CA 91101 954889848 FINANCIAL SERVICES CA 0 8645050 WESCOM CREDIT UNION WESCOM FINANCIAL SERVICES LLC 123 SOUTH MARENGO AVENUE PASADENA CA 91101 954853684 FINANCIAL SERVICES CA 7911533 6336214 WESCOM HOLDINGS LLC WESCOM INSURANCE SERVICES LLC 123 SOUTH MARENGO AVENUE PASADENA CA 91101 954821865 FINANCIAL SERVICES CA 2940954 14253395 WESCOM HOLDINGS LLC WESCOM RESOURCES GROUP LLC 123 SOUTH MARENGO AVENUE PASADENA CA 91101 431966875 DATA PROCESSING CA 11817962 9595571 WESCOM HOLDINGS LLC HALLMARK ASSOCIATES INSURANCE SERVICES LLC 123 SOUTH MARENGO AVENUE PASADENA CA 91101 954800085 INSURANCE CA 0 11816 WESCOM INSURANCE SERVICES LLC WESCOM'S WECARE FOUNDATION 123 SOUTH MARENGO AVE PASADENA CA 91101 311709115 CHARITY FUND CA 501(C)(3) 9 N/A 0 CUSO MORTGAGE INC 5601 EAST LA PALMA AVENUE ANAHEIM CA 92807 710946762 MORTGAGE SERVICES CA WESCOM HOLDINGS LLC C 100882 1.00000 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 WESCOM INSURANCE SERVICES LLC J 368628 ACTUAL AMOUNT PAID WESCOM FINANCIAL SERVICES LLC J 741600 ACTUAL AMOUNT PAID WESCOM RESOURCES GROUP LLC J 2893380 ACTUAL AMOUNT PAID WESCOM'S WECARE FOUNDATION B 105464 ACTUAL AMOUNT PAID