2019-11-04T16:28:42-06:00 2018-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2018-01-01 941696676 PREMIERONE CREDIT UNION PREM 8555007128 6640 VIA DEL ORO SAN JOSE CA 95119 BRADFORD THOMAS VP/CFO 8886726073 2019-10-28 1 VALENTINO CREUS CPA P01054153 8189549700 108.95.190.209 2019-10-28 15:41:40 PD P 858CFD5BF01852FA2489562124A1344FB9A1C194 EAB9806DEF4238CAE74313C6CC2BD34B53E62B85 2018 2020-03-31 21:24:44Z ANDREA BREWER 6640 VIA DEL ORO SAN JOSE CA 95119 17419427 0 X WWW.PREMIERONECU.ORG X CREDIT UNION 1968 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 108 13 88084 0 0 0 12736826 14374810 2518305 2962106 85564 82511 15340695 17419427 4000 4000 0 0 6389259 7069918 0 0 0 7050486 7483465 13443745 14557383 1896950 2862044 413300729 422671600 373866235 381454860 39434494 41216740 X PREMIERONE CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, PREMIERONE CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING A HIGH-YIELD CHECKING ACCOUNT PRODUCT AND A PREMIUM-RATE MONEY MARKET SAVINGS PRODUCT. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 7806 0 1 108 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 1 1 1 0 1 1 1 1 0 CA X X BRAD THOMAS CFO 8555007128 6640 VIA DEL ORO SAN JOSE CA 95119 SEAMUS MORAN CHAIRMAN 1.00 X 0 0 0 RICHARD TOLEDO VICE CHAIRPERSON 1.00 X 0 0 0 THOMAS BREWER SECRETARY 1.00 X 0 0 0 TOM SUCHEVITS TREASURER 1.00 X 0 0 0 MARCIA LILLIS DIRECTOR 1.00 X 0 0 0 MARK VEEH DIRECTOR 1.00 X 0 0 0 DON BARTELS DIRECTOR 1.00 X 0 0 0 WILLIAM STAPLES DIRECTOR 1.00 X 0 0 0 JAY CASTELLANO DIRECTOR 1.00 X 0 0 0 GREG PECK SUPERVISORY COMMITTEE CHAIR 1.00 X 0 0 0 TEJINDER SINGH SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 FRANCES EDWARDS SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 BARBARA CANUP SUPERVISORY COMMITTEE CHAIR 1.00 X 0 0 0 ANDREA BREWER PRESIDENT/CEO 60.00 X 356080 0 73114 BRAD THOMAS VP FINANCE/CFO 40.00 X 233987 0 8072 DOROTHY GEMETTE VP BUSINESS OPERATIONS 40.00 X 190345 0 32946 BELINDA METZLER VP LENDING 40.00 X 183532 0 34819 RICHARD TRESLER VP MEMBER SERVICE 40.00 X 163649 0 15911 THU CUSHING AVP IT 40.00 X 136797 0 17948 JANICE JOHNSON VP MARKETING 40.00 X 136163 0 9572 1400553 0 192382 11 0 1 0 FISERV INC PO BOX 80123 INDUSTRY CA 917168123 ENTERPRISE DATA MANAGEMENT 792861 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 ON-LINE DOCUMENT MANAGEMENT 177615 2 LOAN INCOME 522100 11338776 11338776 OTHER OPERATING INCOME 522100 1965857 1887402 78455 FEE INCOME 522100 1070177 1060548 9629 14374810 2962106 2962106 OTHER NON OPERATING INCOME 522100 82511 82511 82511 17419427 17331343 88084 0 4000 1400553 3417696 145824 1391591 714254 137180 98117 922046 193358 1614945 712119 80351 1071737 901101 43443 LOAN SERVICING EXPENSE 883935 PROVISIONS FOR LOAN & L 692435 MISC. OPERATING EXPENSE 85880 OPERATING FEES 46818 14557383 1436441 2843021 36948194 31226423 1610529 5320947 499436 635056 18143925 5759828 11780237 12384097 63848128 60525390 295169801 303923499 413937 402825 1594026 5410342 413300729 422671600 939766 2307310 372926469 379147550 373866235 381454860 X 0 0 0 0 39434494 41216740 39434494 41216740 413300729 422671600 2862044 -1079798 0 X X 0 1 X 1 0 1562353 1562353 10081333 1126583 8954750 1824881 1359354 465527 4675358 3273891 1401467 12384097 ALL OTHER INVESTMENTS 1910300 F DEPOSITS IN COMMERCIAL BANKS 33586000 C LOANS AND LEASES 260991372 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 3515827 C LOANS TO NATURAL PERSON CREDIT UNIONS 3920000 C 303923499 TOTAL SHARES AND DEPOSITS 379147550 379147550 X PART X, LINE 2: FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE 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 THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT PERIOD. FOR THE YEAR ENDED JUNE 30, 2018, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. X 0 1 0 ANDREA BREWER PRESIDENT/CEO 288507 0 67518 0 55 0 42282 0 30832 0 429194 0 0 0 BRAD THOMAS VP FINANCE/CFO 200388 0 33563 0 36 0 8072 0 0 0 242059 0 0 0 DOROTHY GEMETTE VP BUSINESS OPERATIONS 162003 0 28287 0 55 0 5170 0 27776 0 223291 0 0 0 BELINDA METZLER VP LENDING 155338 0 28143 0 51 0 6427 0 28392 0 218351 0 0 0 RICHARD TRESLER VP MEMBER SERVICE 157244 0 6405 0 0 0 6053 0 9858 0 179560 0 0 0 THU CUSHING AVP IT 124725 0 12058 0 14 0 4485 0 13463 0 154745 0 0 0 PART I, LINE 4B THE CREDIT UNION ENTERED INTO A SPLIT-DOLLAR AGREEMENT WITH A CREDIT UNION EXECUTIVE IN 2018. ANDREA BREWER OFFICER 1ST MORTGAGE X 729000 597341 0 1 1 ANDREA BREWER OFFICER VISA PLATINUM X 25000 15446 0 1 1 ANDREA BREWER OFFICER NEW AUTO X 74625 47285 0 1 1 DOROTHY GEMETTE HCE 1ST MORTGAGE X 930000 877919 0 1 1 DOROTHY GEMETTE HCE VISA GOLD X 20000 19902 0 1 1 ANDREA BREWER OFFICER HELOC X 184551 182008 0 1 1 BRADFORD THOMAS OFFICER HELOC X 46587 46587 0 1 1 ANDREA BREWER OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 3500000 3534459 0 1 1 5320947 FORM 990, PART VI, SECTION A, LINE 2 THOMAS BREWER (BOARD SECRETARY) IS AN UNCLE OF ANDREA BREWER (CEO)'S HUSBAND FORM 990, PART VI, SECTION A, LINE 6 PREMIERONE CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. PREMIERONE CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF PREMIERONE CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B EACH BOARD MEMBER WILL RECEIVE A COMPLETED DRAFT OF THE FORM 990 FOR REVIEW AND BE GIVEN AN OPPORTUNITY TO SUGGEST CORRECTIONS OR REVISIONS PRIOR TO FILING EACH YEAR. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATION DOES NOT HAVE A SEPARATE CONFLICT OF INTEREST POLICY. HOWEVER AS PER THE CODE OF ETHICS EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AS AND WHEN THEY ARISE. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST GUIDELINES AS PER THE CODE OF ETHICS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE MANAGEMENT, ON AT LEAST AN ANNUAL BASIS, OBTAINS COMPENSATION SURVEY DATA FOR HIGHLY COMPENSATED EMPLOYEES (WHICH CONSIST OF VICE PRESIDENTS AND HIGHER) FOR PURPOSES OF COMPENSATION BENCHMARKING. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THIS DATA IN CONJUNCTION WITH EXECUTIVE MANAGEMENT TO DETERMINE APPROPRIATE COMPENSATION LEVELS BY EMPLOYEE POSITION. COMPENSATION LEVELS FOR OTHER KEY EMPLOYEES AND GENERAL STAFF IS AVAILABLE TO THE COMPENSATION COMMITTEE AT ANY TIME FOR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS MONTHLY FINANCIAL STATEMENTS FOR PUBLIC VIEWING BY MEMBERS IN ALL BRANCHES. ORGANIZATION DOES NOT POST GOVERNING DOCUMENTS OR A CONFLICT OF INTEREST POLICY FOR PUBLIC VIEWING. FORM 990, PART VII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.