2018-11-14T17:14:15-06:00 2017-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2017-01-01 941278209 SF POLICE CREDIT UNION SFPO 4155643800 2550 IRVING STREET SAN FRANCISCO CA 94122 EDDIE YOUNG CEO 4155643800 2018-11-12 1 VALENTINO CREUS CPA P01054153 8189549700 24.176.202.186 2018-11-12 10:53:59 PS P AF4F97BFF341B67202FA09B643B1D08BFF97A8E1 AF4F97BFF341B67202FA09B643B1D08BFF97A8E1 2017 2019-02-21 02:37:17Z EDDIE YOUNG 2550 IRVING STREET SAN FRANCISCO CA 94122 33537173 0 X WWW.SFPCU.ORG X CREDIT UNION 1953 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 126 11 282379 0 0 0 28257005 29695064 3898876 3842109 27738 0 32183619 33537173 10000 7815 0 0 11148471 11763026 0 0 0 16485563 17766017 27644034 29536858 4539585 4000315 844750174 878875237 726446982 756811362 118303192 122063875 X S.F. POLICE 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, S.F. POLICE 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 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 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 12747 0 1 126 1 1 1 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 2550 IRVING STREET SAN FRANCISCO CA 94122 MIKE HEBEL CHAIRMAN 1.50 X 0 0 0 CROCE A CASCIATO VICE CHAIR 1.50 X 0 0 0 STEVE TACCHINI SECRETARY 2.00 X 0 0 0 GLENN R SYLVESTER BOARD MEMBER 1.50 X 0 0 0 ROBERT PUTS BOARD MEMBER 1.50 X 0 0 0 JAMES F HENNESSY BOARD MEMBER 1.50 X 0 0 0 JOHN GOLDBERG BOARD MEMBER 1.50 X 0 0 0 EDDIE YOUNG CEO 56.00 X 570336 0 29518 MICHAEL BARE CFO 56.00 X 282076 0 43751 NANCY D WILSON SVP MEMBER EXPERIENCE 56.00 X 175685 0 22032 RATNENDU S MUKHERJEE SVP IT/CIO & CISO 56.00 X 166365 0 19266 DEIRDRE S CLOHERTY VP HUMAN RESOURCES 56.00 X 165394 0 12521 KATHLEEN GRAHAM SVP MARKETING 56.00 X 165010 0 48121 MICHAEL MASTERS IT DIRECTOR 56.00 X 153922 0 20336 DARLENE HONG CONTROLLER 56.00 X 151071 0 20209 VICTOR TO INFRA OPS SERVICES 40.00 X 139659 0 11244 CRAIG WINANS SR. FINANCIAL ANALYST 40.00 X 128098 0 18492 AYE MIN THANT BUSINESS APP SERVICES 40.00 X 120244 0 15188 PATRICIA LEE BUSINESS APP SERVICES 40.00 X 119845 0 17357 ANITA DIAZ MARKETING 40.00 X 114180 0 17264 2451885 0 295299 13 0 1 0 NEWGROUND RESOURCES 415 W GOLF ROAD STE 19 ARLINGTON IL 60005 NEW BUILDING CONSULTANTS 12650963 PSCU FINANCIAL SERVICES 19825 NORTH 7TH STREET PHOENIX AZ 85024 VISA PROCESSOR 1237804 COOP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM/NETWORK/CARD SYSTEM 844389 Q2 SOFTWARE INC 13785 REARCH BLVD AUSTIN TX 78750 ONLINE BANKING 690839 INFO IMAGE 14141 JEFFERSON DR MENLO PARK CA CA 91730 MAILING HOUSE 345724 8 INTEREST ON LOANS 522100 24471927 24471927 OTHER OPERATING INCOME 522100 3632107 3583655 48452 FEE INCOME 522100 1591030 1357103 233927 29695064 3842109 3842109 33537173 33254794 282379 0 3815 4000 2451885 7083655 643191 876765 707530 82876 72000 13420 695448 978561 4163475 1232353 972159 236648 2202458 692138 219797 PROVISION FOR LOAN LOSS 3663216 LOAN SERVICING EXPENSE 1728543 LOSS ON OREO 508552 MISC OPERATING EXPENSE 216048 88325 29536858 711770 1037869 98018412 18614373 10457177 8680232 1017584 1089293 48348554 11638365 11153699 36710189 130035120 147510745 564342163 635729673 147231 137259 28867018 29365604 844750174 878875237 4716361 4571019 721730621 752240343 726446982 756811362 X 0 0 0 0 118303192 122063875 118303192 122063875 844750174 878875237 4000315 -239632 0 X X 0 1 X 1 0 3815 3815 3815 1 CCUL PAC 2855 E GUASTI RD SUITE 600 ONTARIO CA 91761 940357265 3815 6155905 6155905 9365161 5433592 3931569 6867677 6204773 662904 25959811 25959811 36710189 DEPOSITS IN COMMERCIAL BANKS 33553857 C NET LOANS & LEASES 583304086 F INVESTMENTS IN NATURAL PERSON CUS 5178000 C NCUA SHARE INSURANCE CAPITALIZATION DEPOSITS 6637347 C MEMBERSHIP CAPITAL 600000 C ALL OTHER INVESTMENTS 6456383 F 635729673 TOTAL SHARES AND DEPOSITS 752240343 752240343 X 33027410 0 33027410 509763 509763 33537173 29027095 0 29027095 509763 509763 29536858 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 SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016, 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: OTHER NON-OPERATING INCOME RECLASSIFIED BETWEEN REVENUE AND EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER NON-OPERATING INCOME RECLASSIFIED BETWEEN REVENUE AND EXPENSES X X 0 1 0 EDDIE YOUNG CEO 458399 0 82522 0 29415 0 21200 0 8318 0 599854 0 0 0 MICHAEL BARE CFO 253516 0 27537 0 1023 0 19964 0 23787 0 325827 0 0 0 NANCY D WILSON SVP MEMBER EXPERIENCE 170999 0 4401 0 285 0 13714 0 8318 0 197717 0 0 0 RATNENDU S MUKHERJEE SVP IT/CIO & CISO 159252 0 6420 0 693 0 13183 0 6083 0 185631 0 0 0 DEIRDRE S CLOHERTY VP HUMAN RESOURCES 158410 0 6062 0 922 0 12521 0 0 0 177915 0 0 0 KATHLEEN GRAHAM SVP MARKETING 159943 0 4752 0 315 0 14908 0 33213 0 213131 0 0 0 MICHAEL MASTERS IT DIRECTOR 150181 0 3541 0 200 0 12018 0 8318 0 174258 0 0 0 DARLENE HONG CONTROLLER 145360 0 3769 0 1942 0 11891 0 8318 0 171280 0 0 0 VICTOR TO INFRA OPS SERVICES 133818 0 3182 0 2659 0 10858 0 386 0 150903 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 8680232 0 1 1 8680232 FORM 990, PART VI, SECTION A, LINE 6 S.F. POLICE 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. S. F. POLICE CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF S.F. POLICE 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 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.