2019-11-15T12:51:16-06:00 2018-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2018-01-01 951593663 WHEELHOUSE CREDIT UNION FKA SAN DIEGO METROPOLITAN CREDIT UNION WHEE 6192974835 PO BOX 719099 SAN DIEGO CA 92171 LISA PAUL-HILL CEO 6192974835 2019-11-12 1 VALENTINO CREUS CPA P01054153 8189549700 24.176.202.186 2019-11-12 17:28:01 PS P 858CFD5BF01852FA2489562124A1344FB9A1C194 EAB9806DEF4238CAE74313C6CC2BD34B53E62B85 2018 2020-03-31 21:24:44Z LISA PAUL-HILL PO BOX 719099 SAN DIEGO CA 92171 15907448 0 X WWW.WHEELHOUSECU.COM X CREDIT UNION 1934 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 103 12 194945 0 0 0 13879661 14454973 623874 683050 1130975 769425 15634510 15907448 6000 7000 0 0 5899720 6567679 0 0 0 6495507 7858782 12401227 14433461 3233283 1473987 276477652 286136344 247960610 256217758 28517042 29918586 X SEE SCHEDULE OWHEELHOUSE 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, WHEELHOUSE CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 AMONG OUR LARGEST ACCOUNT HOLDER BASE (OUTSIDE OF MEMBERSHIP SAVINGS) IS A CHECKING ACCOUNT. WHEELHOUSE OFFERS VARIOUS PRODUCT LINES WITH VARYING FEATURES AND BENEFITS. OUR AVERAGE CHECKING BALANCE IS $8,000.00 AMONG THE CHECKING ACCOUNTS. THE TWO MOST POPULAR ACCOUNTS INCLUDE A NO-DIVIDEND, NO MONTHLY FEE ACCOUNT FOR THOSE MEETING CERTAIN CRITERIA (MOST OFTEN DIRECT DEPOSIT) AND A DIVIDEND-BEARING ACCOUNT WHICH REQUIRES AN AVERAGE DAILY BALANCE TO BE FREE OF REGULAR MONTHLY FEES. ALL MEMBERS WITH CHECKING ACCOUNTS HAVE A BASIC SAVINGS, BUT THE SECOND MOST POPULAR ACCT COMBINATION FOR CHECKING ACCT HOLDERS INCLUDES A SAVINGS AND CONSUMER LOAN, FOLLOWED BY A SAVINGS CERTIFICATE ACCT. THE CREDIT UNION UNDERWENT A NAME CHANGE IN SEPTEMBER OF 2018 CHANGING SAN DIEGO METROPOLITAN CREDIT UNION TO WHEELHOUSE CREDIT UNION. IN ADDITION TO THE NAME CHANGE,A NEW HOME BANKING PLATFORM WAS INTRODUCED. IN ADDITION TO THE SERVICES PREVIOUSLY OFFERED,WHEELHOUSE INTRODUCED A NEW MONEY MOVING SERVICES AVAILABLE USING DEBIT CARDS AND ACH. THE SERVICE GARNERING LARGE ENROLLMENT IS INTERNET BANKING ENROLLMENT, WHICH ALLOWS MEMBERS TO MANAGE THEIR FINANCIAL ACCOUNTS 24 HOURS A DAY FROM A PERSONAL COMPUTER WITH INTERNET ACCESS. FEATURES OF THIS SERVICE ARE THE ABILITY TO VIEW ACCOUNT BALANCES AND HISTORIES AT ANY TIME, VIEW CHECK IMAGES, AND PERFORM TRANSFERS FROM ONE OF THE MEMBER'S ACCOUNTS TO ANOTHER. THE BREADTH OF TRANSACTIONS PROVIDED TO THE MEMBER VIA THIS PLATFORM PROVIDES AN EFFICIENCY AND CONVENIENCE TO THE MEMBER AND IS LESS COSTLY THAN A BRANCH TRANSACTION. NEW FEATURES TO INTERNET BANKING NOW ALLOW MEMBERS TO MAKE AND/OR SCHEDULE TRANSFERS AND LOAN PAYMENTS FROM INTERNAL AND/OR EXTERNAL SOURCES. ENERGY EFFICIENT/SOLAR LOANS MAKE UP 45% OF THE LOAN PORTFOLIO WITH A PORTFOLIO BALANCE OF $90M AND AN AVERAGE LOAN BALANCE OF $25,500. THESE LOANS ARE GRANTED TO MEMBERS FOR STRUCTURAL IMPROVEMENTS TO THEIR HOMES WHICH MAKE THEM MORE ENERGY EFFICIENT. IMPROVEMENTS INCLUDE SOLAR PANELS, WINDOWS, ROOFING AND AIR CONDITIONING. BY PERFORMING SUCH IMPROVEMENTS TO THEIR HOME, MEMBERS SEE A SIGNIFICANT REDUCTION IN ENERGY EFFICIENT COSTS AS WELL AS RECEIVE A TAX CREDIT FROM THE IRS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 3561 0 1 103 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 CA X X LISA PAUL-HILL CEO 6192785719 PO BOX 719099 SAN DIEGO CA 92171 MARCIA MCLATCHY CHAIRPERSON 1.00 X 0 0 0 DAN SOBEL VICE CHAIRPERSON 1.00 X 0 0 0 SHARON FLOYD BOARD SECRETARY AND TREASU 1.00 X 0 0 0 MICHAEL AHLERING BOARD MEMBER 1.00 X 0 0 0 D CRUZ GONZALEZ BOARD MEMBER 1.00 X 0 0 0 ROBERT LAWRENCE BOARD MEMBER 1.00 X 0 0 0 MARIO MODIANO BOARD MEMBER 1.00 X 0 0 0 STEPHANIE ROSE BOARD MEMBER 1.00 X 0 0 0 ROBERT WILSON BOARD MEMBER 1.00 X 0 0 0 JUNE DUDAS SUPV CMTE CHAIR 1.00 X 0 0 0 SCOTT WAHL SUPV CMTE MEMBER 1.00 X 0 0 0 EDWARD PRENDELL SUPV CMTE MEMBER 1.00 X 0 0 0 HOLLY REED-FALK SUPV CMTE MEMBER 1.00 X 0 0 0 KATHY RUIZ SUPV CMTE MEMBER 1.00 X 0 0 0 LISA PAUL-HILL CEO 50.00 X 248704 0 17942 JOHN STABLER CFO 50.00 X 112304 0 16046 REBECCA-RAMOS ARZOLA VP HUMAN RESOURCES 50.00 X 149191 0 16112 ALEX HOSCH SVP,ENTERPRISE RISK 50.00 X 145565 0 18323 MICHAEL GLOGOWSKI VP INFORMATION TECH 50.00 X 143828 0 14206 BRET JOHNSON VP OPERATIONS 50.00 X 103337 0 9718 902929 0 92347 6 0 1 0 LIEN SOLUTIONS 20101 HAMILTON AVE TORRANCE CA 90502 BUSINESS TECHNOLOGY 403156 FISERV XP PO BOX 80123 CITY OF INDUSTRY CA 91716 CREDIT CARD PROCESSING 372455 DAVIS AND ADAMS 7848 CONVOY CT SAN DIEGO CA 92111 CONSTRUCTION 318155 CORELATION INC 2305 HISTORIC DECATUR RD SAN DIEGO CA 92106 FINANCIAL SERVICES 307850 4 INTEREST ON LOANS 522100 11547337 11547337 OTHER OPERATING INCOME 522100 1740444 1740444 FEE INCOME 522100 1167192 972247 194945 14454973 683050 683050 GAIN ON SOLAR LN - DEF FEES 522100 577496 577496 OTHER NON-OPERATING INCOME 522100 191929 191929 769425 15907448 15712503 194945 0 7000 902929 4561427 193701 494956 414666 82736 82437 1219395 331315 2001119 61116 478990 88775 595133 763008 108685 PROVISION FOR LOAN LOSS 752715 LOAN SERVICING 662478 MISC. OPERATING EXPENSE 599593 OPERATING FEES 31287 14433461 1752061 1958858 29955317 16118752 1770842 794542 799873 814220 16133629 9901717 5284696 6231912 18694041 16208393 216913629 240637462 1307193 3372205 276477652 286136344 10647346 11220784 237313264 244996974 247960610 256217758 X 0 0 0 0 28517042 29918586 28517042 29918586 276477652 286136344 1473987 -72443 0 X X 0 1 X 1 0 2275000 2275000 4132628 2306500 1826128 949752 673832 275920 8232191 6921385 1310806 544058 544058 6231912 ALL OTHER INVESTMENTS 1342314 F NET LOANS AND LEASES 236435168 F NCUA SHARE INSURANCE 2259980 C PAID IN CAPITAL AT CORP 600000 C 240637462 MEMBER'S SHARES AND DEPOSITS 244996974 244996974 X 15907447 0 15907447 0 15907447 14433460 0 14433460 0 14433460 PART X, LINE 2: 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 WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2018, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. 1 SCHOLARSHIPS 4 7000 FMV PART I, LINE 2: A COMMITTEE (USUALLY MADE UP OF CEO AND BOARD/SUPERVISORY MEMBERS) REVIEWS THE SUBMISSIONS FROM QUALIFYING APPLICANTS. THREE TOP APPLICANTS ARE SELECTED. X 0 0 0 LISA PAUL-HILL CEO 226529 0 15000 0 7175 0 10186 0 7756 0 266646 0 0 0 REBECCA-RAMOS ARZOLA VP HUMAN RESOURCES 132047 0 6766 0 10378 0 6005 0 10107 0 165303 0 0 0 ALEX HOSCH SVP,ENTERPRISE RISK 133377 0 6766 0 5422 0 6221 0 12102 0 163888 0 0 0 MICHAEL GLOGOWSKI VP INFORMATION TECH 138106 0 5074 0 648 0 5931 0 8275 0 158034 0 0 0 REBECCA RAMOS-ARZOLA HCE MORTGAGE X 219129 112683 0 0 1 JOHN STABLER OFFICER MORTGAGE X 538500 538231 0 0 1 JOHN STABLER OFFICER CREDIT CARD X 12000 7797 0 0 1 JOHN STABLER OFFICER AUTO X 14168 2923 0 0 1 ALEX HOSCH HCE LL X 5000 1269 0 0 1 ALEX HOSCH HCE AUTO X 6100 2602 0 0 1 ALEX HOSCH HCE HELOC X 97643 97643 0 0 1 ALEX HOSCH HCE VISA X 10000 9621 0 0 1 MICHAEL GLOGOWSKI HCE AUTO X 20735 19839 0 0 1 MICHAEL GLOGOWSKI HCE CREDIT CARD X 10000 1934 0 0 1 794542 FORM 990, PART VI, SECTION A, LINE 4 THE CREDIT UNION CHANGED ITS NAME TO WHEELHOUSE CREDIT UNION EFFECTIVE SEPTEMBER 20, 2018. FORM 990, PART VI, SECTION A, LINE 6 WHEELHOUSE 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. THE CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF WHEELHOUSE 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 IN THE CASE OR MERGER OF DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW BUT NO APPROVAL IS REQUIRED PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C POSSIBLE CONFLICTS OF INTEREST ARE LEARNED THROUGH PERSONAL OBSERVATION OR CONFLICTS WITH OTHER EMPLOYEES AND ARE REPORTED TO THE SUPERVISORY COMMITTEE FOR DECISIONS ON FURTHER INVESTIGATIONS AND REPORTING TO THE BOARD. WE DETERMINE A POSSIBLE CONFLICT BASED ON THE CIRCUMSTANCES AND HOW THEY RELATE TO THE BY-LAWS AND BOARD POLICY STATEMENTS ON CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE VP OF THE HR UTILIZES COMPEASE, A PROGRAM PROVIDED BY KG & ASSOCIATES TO ESTABLISH GRADE LEVELS AND SALARY RANGES. EACH MANAGER IS RESPONSIBLE FOR COMPLETING A JOB EVALUATION WHICH IS A PROCESS UTILIZING GUIDE CHARTS. THE EVALUATION IS ESSENTIALLY A POINT/FACTOR COMPARISON PLAN. EACH JOB IS COMPARED TO OTHER JOBS THROUGH THE USE OF FACTORS COMMON TO ALL POSITION TO DETERMINE THE JOB'S RELATIVE IMPORTANCE. A RANKING OF POSITION IS BUILT FROM LOW TO HIGH BASED ON THE FOLLOWING FACTORS: KNOWLEDGE/SKILLS (EXPERIENCE, EDUCATION, MANAGERIAL RESPONSIBILITY, INTERPERSONAL SKILLS), PROBLEM SOLVING (INDEPENDENT, JUDGMENT, MENTAL PROCESS) AND ACCOUNTABILITY (ORGANIZATIONAL IMPACT, ORGANIZATIONAL RESTRAINT). THE INFORMATION IS THEN ENTERED INTO THE COMPEASE SYSTEM. THIS RESULTS IN TOTAL POINT SCORES WHICH ARE USED TO PLACE JOBS IN SALARY GRADES. THESE RESULTS ARE THEN COMPARED WITH THE RESULTS OF THE CUES EXECUTIVE COMPENSATION SURVEY DATA. ONCE THE SALARY RANGES AND GRADES ARE ESTABLISHED, THE INFORMATION IS GIVEN TO THE CEO AND THE SVP OF FINANCE AND ADMINISTRATION. FORM 990, PART VI, SECTION C, LINE 19 IN ADDITION TO THE PUBLIC ACCESSING THE CREDIT UNION'S QUARTERLY 5300 REPORT THROUGH THE NCUA'S WEBSITE. THE CREDIT UNION POSTS FINANCIAL STATEMENTS ON ITS WEBSITE IN THE "ABOUT US" TAB. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.