2025-11-06T12:51:59-06:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 941278209 THE POLICE CREDIT UNION OF CALIFORNIA POLI 4155643800 1250 GRUNDY LANE SAN BRUNO CA 94066 EDDIE YOUNG CEO 4155643800 2025-11-05 1 1 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z EDDIE YOUNG 1250 GRUNDY LANE SAN BRUNO CA 94066 46296065 0 X WWW.THEPOLICECU.ORG X CREDIT UNION 1953 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 152 10 80041 0 0 0 34089515 36751035 7407302 9545030 0 0 41496817 46296065 17233 17233 0 0 17885376 18867984 0 0 0 28112855 32848170 46015464 51733387 -4518647 -5437322 1077109877 1052661080 984737624 961421244 92372253 91239836 X THE POLICE CREDIT UNION OF CALIFORNIA 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, THE POLICE CREDIT UNION OF CALIFORNIA 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 PRODUCTS OFFERINGS, INCLUDING A NO FEE CHECKING ACCOUNT PRODUCTS AND HIGH RATE MONEY MARKET. 0 0 1 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 11449 0 1 152 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X EDDIE YOUNG CEO 4155643800 1250 GRUNDY LN SAN BRUNO CA 94066 STEVE TACCHINI CHAIRMAN 1.00 X 0 0 0 JOHN GOLDBERG VICE CHAIR 1.00 X 0 0 0 MICHELLE JEAN BOARD SECRETARY 1.00 X 0 0 0 CROCE A CASCIATO BOARD MEMBER 1.00 X 0 0 0 MICHAEL HEBEL BOARD MEMBER 1.00 X 0 0 0 GLENN R SYLVESTER BOARD MEMBER 1.00 X 0 0 0 MUNA BUSAILAH BOARD MEMBER 1.00 X 0 0 0 EDDIE YOUNG PRESIDENT/CEO 56.00 X 711137 0 36680 MICHAEL BARE CFO 56.00 X 338564 0 46983 DEIRDRE CLOHERTY COO 56.00 X 318251 0 25470 CHRISTOPHER MICHALAK CLO 56.00 X 296921 0 32159 SYED HOSSAIN VP INFORMATION TECHNOLOGY 56.00 X 275343 0 8247 KATHLEEN GRAHAM SVP/MARKETING 56.00 X 238280 0 33340 NICOLE POOLE VP REAL ESTATE 56.00 X 223580 0 34353 MICHAEL MASTERS VP BUSINESS APPLICATION SE 40.00 X 218187 0 26683 SUSAN KIRK VP BUSINESS APPLICATION SE 40.00 X 204095 0 16605 NATALIE SIGNORELLI VP TALENT & ORGANIZATION D 40.00 X 202135 0 26388 KYMBERLI ROBERTS VP MEMBER EXPERIENCE 40.00 X 201003 0 25216 DARLENE HONG VP MEMBER DEVELOPMENT 40.00 X 178503 0 10471 PATRICK CHIN SR INFASTRUCTURE MANAGER 40.00 X 192416 0 45101 VICTOR TO SR SECURITY ARCHITECT 40.00 X 174922 0 14215 THOMAS HUGHES AVP RISK MANAGEMENT 40.00 X 170107 0 24030 JESSICA NUGENT RE OPERATIONS MANAGER 40.00 X 187134 0 14925 SIMON LIU AVP RETAIL 40.00 X 181455 0 16564 4312033 0 437430 56 0 1 0 SHI INTERNATIONAL CORP PO BOX 952121 DALLAS TX 75395 SYSTEM SUPPORT 793696 CARDTRONICS USA INC PO BOX 7411058 CHICAGO IL 60674 SERVICES AND TECHNOLOGY 510022 NCR VOYIX CORPORATION PO BOX 740641 LOS ANGELES CA 90074 DIGITAL SOFTWARE SUPP 410849 INFO IMAGE 175 SOUTH HILL DRIVE BRISBANE CA 94005 MAILING HOUSE 366975 CORELATION INC SUITE 3002305 HISTORIC DECATUR ROA SAN DIEGO CA 92106 CORE SYSTEM SVS 271825 20 INTEREST ON LOANS 522100 28731262 28731262 OTHER OPERATING INCOME 522100 5603569 5542409 61160 FEE INCOME 522100 2416204 2397323 18881 36751035 9545030 9545030 46296065 46216024 80041 0 4733 12500 4312033 11129549 1087692 1197160 1141550 94106 60000 6033 1053349 1032045 5569211 1696679 1353722 87666 14748663 2665504 215936 LOAN SERVICING EXPENSE 2163084 CREDIT LOSS EXPENSE 1816973 OPERATING FEES 133024 MISC OPERATING EXPENSE 102989 49186 51733387 1094037 1757583 29497917 136253723 11239764 11454377 1799576 838006 59768345 16964662 45348897 42803683 339258248 265287051 597872419 564884509 902937 837504 50096082 28544644 1077109877 1052661080 15291272 13319328 969446352 948101916 984737624 961421244 X 0 0 0 0 92372253 91239836 92372253 91239836 1077109877 1052661080 -5437322 4304905 0 X X 0 1 X 1 0 4733 4733 4733 1 CCUL PAC PO BOX 51476 ONTARIO CA 91761 940357265 4733 5328917 5328917 44846403 9163038 35683365 9323377 7801624 1521753 269648 269648 42803683 NET LOANS & LEASES 546259025 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSITS 8338133 C ALL OTHER INVESTMENTS 9762351 F PERPETUAL CONTRIBUTED CAPITAL 525000 C 564884509 TOTAL SHARES AND DEPOSITS 948101916 948101916 X 46246880 0 46246880 49185 49185 46296065 51684201 0 51684201 49186 49186 51733387 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 YEARS ENDED DECEMBER 31, 2024 AND 2023, 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED FROM REVENUE TO EXPENSE 49,186. ROUNDING -1. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED FROM REVENUE TO EXPENSE 49,186. 1 SCHOLARSHIPS 5 12500 FMV SCHEDULE I, PART I, LINE 2: THE POLICE CREDIT UNION HAS PLEDGED TO SUPPORT THEIR LAW ENFORCEMENT MEMBERS AND THEIR FAMILIES BY AWARDING SCHOLARSHIPS TO DESERVING MEMBERS WHO PROVE THEIR ACADEMIC EXCELLENCE AND CONTRIBUTE TO THE IMPROVEMENT OF THEIR LOCAL COMMUNITY. THE POLICE CREDIT UNION'S EXECUTIVE STAFF SELECTS THE WINNERS WITH THE BOARD OF DIRECTORS' APPROVAL. CANDIDATES ARE JUDGED BASED ON THEIR ACADEMIC ACHIEVEMENTS, INVOLVEMENT IN COMMUNITY ACTIVITIES, PARTICIPATION IN EXTRACURRICULAR ACTIVITIES, WORK EXPERIENCE, A PERSONAL RECOMMENDATION THEY MUST PROVIDE, AND AN ESSAY QUESTION THEY MUST ANSWER EITHER IN WRITING OR VIA VIDEO. X X 0 1 0 EDDIE YOUNG PRESIDENT/CEO 691270 0 0 0 19867 0 27600 0 9080 0 747817 0 0 0 MICHAEL BARE CFO 312067 0 0 0 26497 0 27415 0 19568 0 385547 0 0 0 DEIRDRE CLOHERTY COO 315244 0 0 0 3007 0 25470 0 0 0 343721 0 0 0 CHRISTOPHER MICHALAK CLO 282693 0 0 0 14228 0 23079 0 9080 0 329080 0 0 0 SYED HOSSAIN VP INFORMATION TECHNOLOGY 274472 0 0 0 871 0 8247 0 0 0 283590 0 0 0 KATHLEEN GRAHAM SVP/MARKETING 233195 0 0 0 5085 0 15634 0 17706 0 271620 0 0 0 NICOLE POOLE VP REAL ESTATE 222446 0 0 0 1134 0 16730 0 17623 0 257933 0 0 0 MICHAEL MASTERS VP BUSINESS APPLICATION SE 216211 0 0 0 1976 0 17412 0 9271 0 244870 0 0 0 SUSAN KIRK VP BUSINESS APPLICATION SE 201857 0 0 0 2238 0 16605 0 0 0 220700 0 0 0 NATALIE SIGNORELLI VP TALENT & ORGANIZATION D 189633 0 0 0 12502 0 16430 0 9958 0 228523 0 0 0 KYMBERLI ROBERTS VP MEMBER EXPERIENCE 200033 0 0 0 970 0 16136 0 9080 0 226219 0 0 0 DARLENE HONG VP MEMBER DEVELOPMENT 174714 0 0 0 3789 0 10471 0 0 0 188974 0 0 0 PATRICK CHIN SR INFASTRUCTURE MANAGER 189928 0 0 0 2488 0 16911 0 28190 0 237517 0 0 0 VICTOR TO SR SECURITY ARCHITECT 174145 0 0 0 777 0 14215 0 0 0 189137 0 0 0 THOMAS HUGHES AVP RISK MANAGEMENT 167836 0 0 0 2271 0 13686 0 10344 0 194137 0 0 0 JESSICA NUGENT RE OPERATIONS MANAGER 186556 0 0 0 578 0 14925 0 0 0 202059 0 0 0 SIMON LIU AVP RETAIL 180899 0 0 0 556 0 10920 0 5644 0 198019 0 0 0 PART I, LINE 4B A SPLIT-DOLLAR LIFE INSURANCE AGREEMENT WAS SIGNED BETWEEN THE CREDIT UNION AND ITS CEO EFFECTIVE JULY 29, 2016. THE CEO IS THE SOLE OWNER OF THE LIFE INSURANCE POLICIES PURCHASED. EDDIE YOUNG OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 8320717 10359138 0 1 1 MICHAEL BARE OFFICER MORTGAGE X 610000 417277 0 1 1 DEIRDRE S CLOHERTY KEY EMPLOYEE AUTO X 32731 857 0 1 1 DEIRDRE S CLOHERTY KEY EMPLOYEE AUTO X 41807 17140 0 1 1 DEIRDRE S CLOHERTY KEY EMPLOYEE MORTGAGE X 100000 97152 0 1 1 DEIRDRE S CLOHERTY KEY EMPLOYEE MORTGAGE X 1000000 562813 0 1 1 11454377 FORM 990, PART VI, SECTION A, LINE 6 THE POLICE CREDIT UNION OF CALIFORNIA 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 POLICE CREDIT UNION OF CALIFORNIA DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF THE POLICE CREDIT UNION OF CALIFORNIA 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 THE COMPLETED FORM 990 WILL BE REVIEWED BY MANAGEMENT FOR ACCURACY AND A COPY OF THE 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE RECEIVES, REVIEWS AND PROVIDES A SIGNED ACKNOWLEDGEMENT OF THE EMPLOYEE HANDBOOK UPON BEING HIRED. THE EMPLOYEE HANDBOOK INCLUDES A CONFLICT OF INTEREST POLICY. DECISIONS MADE AT THE EXECUTIVE AND DEPARTMENTAL LEVELS CONSIDER CONFLICT OF INTEREST POLICIES. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY THE HR DEPARTMENT CONDUCTS A FULL ANALYSIS UTILIZING 1-3 CREDIT UNION INDUSTRY SPECIFIC SALARY SURVEYS. THIS DATA IS THEN TRENDED UP TO LEAD THE MARKET. THE MARKET DATA IS THEN COMPARED TO INTERNAL COMPENSATION STRUCTURES. SPECIAL ATTENTION IS GIVEN TO GREEN AND RED CIRCLE SITUATIONS. INTERNAL PAY EQUITY ANALYSIS IS ALSO CONDUCTED. HR THEN PREPARES A MERIT INCREASE MATRIX BASED UPON PROJECTED BUDGETING AND PRESENTS TO CEO, COO AND CFO. ONCE AGREED UPON, THE ANALYSIS IS PRESENTED TO THE BOD. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE BUILDING LOBBY AND MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.