2018-11-09T17:52:50-06:00 2017-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2017-01-01 951585409 SOUTHLAND CREDIT UNION SOUT 5629368740 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 THOMAS LENT PRESIDENT/CEO 5629368740 2018-11-09 1 DOUGLAS J ORTH P01076394 3052328272 64.95.240.2 2018-11-09 17:51:07 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2017 2019-02-21 02:37:17Z THOMAS LENT 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 31810528 0 X WWW.SOUTHLANDCU.ORG X 1936 CA EXCEPTIONAL MEMBER SERVICE RESULTING IN SUPERIOR FINANCIAL STRENGTH 7 7 174 10 98103 -106538 0 0 25097515 27699288 1522443 2910654 1276943 1200586 27896901 31810528 0 0 0 0 11807043 13960636 0 0 0 14322631 16794961 26129674 30755597 1767227 1054931 617965066 741913433 553127806 658071775 64837260 83841658 SOUTHLAND CREDIT UNION IS DEDICATED TO EXCEPTIONAL MEMBER SERVICE RESULTING IN SUPERIOR FINANCIAL STRENGTH, OFFERING CONVENIENCE, COURTESY AND VALUED SOLUTIONS. 0 0 PROVIDED LOW COST LOANS AND HIGH-YIELD DEPOSIT OPTIONS FOR OUR MEMBERSHIP. EDUCATED OUR MEMBERSHIP TO ENSURE FINANCIAL LITERACY AND SECURITY. DURING 2017, (12,724) LOANS WERE GRANTED AND SERVICES WERE PROVIDED TO (59,092) MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 13642 0 1 174 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X THOMAS LENT 5629368740 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 WALTER FINNIGAN DIRECTOR 1.00 X 0 0 0 ANNIE PEREZ CHAIRMAN 1.00 X 0 0 0 ANGELA AVERY V. CHAIRMAN 1.00 X 0 0 0 DOLORES ARRIOLA DIRECTOR 1.00 X 0 0 0 ROBERT HALE DIRECTOR 1.00 X 0 0 0 BRAD SILCOX DIRECTOR 1.00 X 0 0 0 JOSE MANZANO SECRETARY/TREASURER 1.00 X 0 0 0 BECKY COOL DIRECTOR 1.00 X 0 0 0 MARGARET TOLLNER DIRECTOR 1.00 X 0 0 0 FERRIS FOSTER PRESIDENT/CEO 40.00 X 2784012 0 16209 THOMAS LENT CEO 40.00 X 731482 0 152755 RENE LEJAY COO 40.00 X 523672 0 107832 CHRISTOPHER BURNS CFO 40.00 X 196357 0 14767 MATTHEW HERRICK VP SALES & MARKETING 40.00 X 188925 0 30716 CURT BANNOCK VP CIO 40.00 X 174703 0 24973 CYNTHIA SMOLINSKI VP HR 40.00 X 172839 0 15991 TINA FUGELSANG SVP HARBOR OPERATIONS 40.00 X 184977 0 162587 BERTRAND VILLAVERT VP CONTROLLER 40.00 X 155287 0 30746 5112254 0 556576 26 0 1 0 JACK HENRY & ASSOCIATES 663 W HIGHWAY 60 MONETT MO 657088215 CORE SYSTEM PROCESSING 382754 PROMENADE PROPERTIES III LLC 525 SANTA MONICA BLVD SANTA MONICA CA 90401 PROPERTY MANAGEMENT 341158 FISERV PO BOX 80123 CITY OF INDUSTRY CA 91716 PAYMENT SOLUTIONS 323261 ACCOUNTEMPTS PO BOX 743295 LOS ANGELES CA 900743295 TEMPORARY STAFFING 212584 OBERTHUR TECHNOLOGIES OF AMERICA PO BOX 1450 MINNEAPOLIS MN 554855118 CARD SOLUTIONS 212201 18 INTEREST INCOME ON LOANS 522100 20615866 20615866 FEES/CHARGES/OTHER 522100 6985319 6985319 UNRELATED BUSINESS INCOME 900099 68385 68385 UNRELATED BUSINESS INCOME 524298 29718 29718 27699288 2910654 2910654 44274 0 44274 44274 44274 GAIN ON LOANS 522100 829654 829654 BARGAIN PURCHASE GAIN 900099 326658 326658 1156312 31810528 31712425 98103 0 X 4527086 5341227 715376 2438516 938431 733755 282560 125275 3000 302242 779342 761408 1274043 2032613 192338 90308 2416729 110539 1140512 271350 PROVISION FOR LOAN LOSS 2139000 MISCELLANEOUS 1120725 CHARGE-OFF 622271 MAINTENANCE AND REPAIRS 563930 1833021 30755597 10255742 7143221 55951829 53002083 4296078 3750071 2624386 2620918 428429296 503793196 1650419 1662568 22364818 11308397 7838755 11056421 78415899 104519840 5023112 20693779 1127866 2211805 22351684 31459531 617965066 741913433 10556063 8515331 542571743 649556444 553127806 658071775 X 0 0 0 0 64837260 83841658 64837260 83841658 617965066 741913433 X 1054931 -313518 18262985 X X 0 1 X 1 0 3335898 3335898 10082520 4105632 5976888 1463135 746760 716375 7483265 6456005 1027260 11056421 SHARE DRAFTS 141979503 SHARES/ESCROWS 229233108 MONEY MARKET 138027059 IRA SHARES 6580647 CERTIFICATES OF DEPOSIT 133736127 649556444 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2017, 2016, AND 2015 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X X 1 1 X X X X X 0 1 0 FERRIS FOSTER PRESIDENT/CEO 1444 0 0 0 2782568 0 16200 0 9 0 2800221 0 2048102 0 THOMAS LENT CEO 304038 0 32745 0 394699 0 130667 0 22088 0 884237 0 384265 0 RENE LEJAY COO 207796 0 13780 0 302096 0 96437 0 11395 0 631504 0 299644 0 CHRISTOPHER BURNS CFO 196154 0 0 0 203 0 7794 0 6973 0 211124 0 0 0 MATTHEW HERRICK VP SALES & MARKETING 167379 0 11056 0 10490 0 10610 0 20106 0 219641 0 0 0 CURT BANNOCK VP CIO 155169 0 10755 0 8779 0 5596 0 19377 0 199676 0 0 0 CYNTHIA SMOLINSKI VP HR 143182 0 7089 0 22568 0 9097 0 6894 0 188830 0 0 0 TINA FUGELSANG SVP HARBOR OPERATIONS 182240 0 0 0 2737 0 161285 0 1302 0 347564 0 0 0 BERTRAND VILLAVERT VP CONTROLLER 145164 0 10123 0 0 0 9967 0 20779 0 186033 0 0 0 PART I, LINE 4B CREDIT UNION EXECUTIVES, FERRIS FOSTER, THOMAS LENT, TINA FUGELSANG, AND RENE LEJAY PARTICIPATE IN A NONQUALIFIED RETIREMENT PLAN. THE CREDIT UNION RECOGNIZED BENEFIT EXPENSES FOR THREE EXECUTIVES DURING 2017. THE 2017 BENEFIT EXPENSES BY EXECUTIVE WERE AS FOLLOWS: RENE LEJAY $80,237; THOMAS LENT $114,467; TINA FUGELSANG $150,229. THE 2017 CASH DISTRIBUTION ARE AS FOLLOWS: THOMAS LENT $384,265; RENE LEJAY $299,644; FERRIS FOSTER $2,048,102. THOMAS LENT CEO TO FUND LIFE INSURANCE POLICY X 1200000 1207117 0 1 1 RENE LEJAY COO TO FUND LIFE INSURANCE POLICY X 1500000 1413801 0 1 1 2620918 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH BOARD MEMBER AND SUPERVISORY COMMITTEE MEMBER SERVES A 3 YEAR TERM, AND IS NOMINATED AND ELECTED BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. ON JANUARY 1, 2017, 100 PERCENT OF THE ASSETS AND LIABILITIES OF HARBOR FEDERAL CREDIT UNION WERE MERGED WITH SOUTHLAND CREDIT UNION. THE BUSINESS COMBINATION WAS A MUTUAL AGREEMENT BETWEEN SOUTHLAND CREDIT UNION AND HARBOR FEDERAL CREDIT UNION IN ORDER TO ENHANCE THE AVAILABILITY AND QUALITY OF SERVICES FOR BOTH FIELDS OF MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE SUPERVISORY COMMITTEE TO BE REPORTED TO THE BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT IS RESPONSIBLE FOR ENFORCING ALL CONFLICT OF INTEREST POLICIES. PERIODIC REVIEWS ARE COMPLETED BY INTERNAL AUDITORS WHO REPORT THEIR FINDINGS TO THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD FORMS AN EXECUTIVE COMPENSATION COMMITTEE WHICH SOLICITS A REVIEW FROM INDEPENDENT SOURCES AS WELL AS COMPARBILITY DATA. THIS COMMITTEE PROVIDES A RECOMMENDATION TO THE FULL BOARD TO APPROVE THE CEO'S SALARY. OTHER MANAGEMENT SALARIES ARE DETERMINED USING COMPARATIVES AND 3RD PARTY RECOMMENDATIONS. FORM 990, PART VI, SECTION C, LINE 19 ALL PUBLIC DOCUMENTS AND FINANCIALS ARE EITHER POSTED IN THE BRANCHES, AVAILABLE UPON REQUEST, OR BOTH. FORM 990, PART IX, LINE 24E VISA/CHECK CARD FEES 539,341. ATM FEES 417,982. ELECTRONIC BILL PAY 252,189. SHARE BRANCHING 206,792. MEMBER STATEMENTS 159,461. TRAINING/EDUCATION ACTIVITIES 98,343. BUSINESS DEVELOPMENT 85,353. LIFE INSURANCE (SD) 73,560. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED THROUGH BUSINESS COMBINATION 18,262,985. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. SCFCU SERVICES INC 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 954489756 INSURANCE CA SOUTHLAND CREDIT UNION C 72 2009 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0