2017-11-14T18:22:10-06:00 2016-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2016-01-01 330358683 AMERICAN FIRST CREDIT UNION AMER 8002901112 6 POINTE DRIVE NO 400 BREA CA 928219322 CHRIS LAWRENCE CFO 8002901112 2017-11-13 1 VALENTINO CREUS CPA P01054153 8189549700 108.95.190.209 2017-11-13 08:43:51 PS P F53CDBC3F18316389D6CFA617EE7B9AF17900040 AAA51A721A1433521015D48D976EB051C184777B 2016 2017-02-10 21:41:12Z X JON SHIGEMATSU 6 POINTE DRIVE NO 400 BREA CA 928219322 31895286 0 X WWW.AMERFIRST.ORG X CREDIT UNION 1989 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 6 6 156 11 261494 -50452 0 0 19843317 22639315 2477663 3651863 995044 349897 23316024 26641075 15970 22539 0 0 9022164 9859262 0 0 0 10393089 11880089 19431223 21761890 3884801 4879185 557237162 658176498 500898619 596975677 56338543 61200821 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, AMERICAN FIRST CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 ACHIEVEMENT OF MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND SIMILAR ACCOUNTS. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH CONSUMER AND REAL ESTATE LOANS, I.E., AUTO LOANS, VISA, 1ST MORTGAGE AND PERSONAL LINES OF CREDIT. ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH OUR LONG TERM COMMITMENT TO HELP OUR MEMBERS REACH THEIR FINANCIAL GOALS. 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 15903 0 1 156 1 1 1 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X TIM LABUDA VP ACCOUNTING & CORPORATE CONTROLLER 8002901112 6 POINTE DRIVE SUITE 400 BREA CA 928219322 TOM COOK CHAIRMAN 1.00 X 0 0 0 PATTI MALOTT SECRETARY 1.00 X 0 0 0 JASON PHILIBERT TREASURER 1.00 X 628 0 0 AMANDA SECOLA BOARD MEMBER 1.00 X 628 0 0 ERIC LEDESMA BOARD MEMBER 1.00 X 0 0 0 ROGER VANDER WENDE BOARD MEMBER 1.00 X 0 0 0 DONNA BROOKS SUPV CMTE CHAIRPERSON 1.00 X 0 0 0 DAVID WEED SUPV CMTE MEMBER 1.00 X 0 0 0 ROBERT WARKENTON SUPV CMTE MEMBER 1.00 X 0 0 0 JAMES HOPKINS SUPV CMTE MEMBER 1.00 X 0 0 0 MARK SALIBA SUPV CMTE MEMBER 1.00 X 0 0 0 JON SHIGEMATSU CEO/PRESIDENT 40.00 X 341768 0 42697 CHRISTOPHER LAWRENCE CFO 40.00 X 217670 0 40953 THERESA DAVY COO 40.00 X 195734 0 23789 ROBERT FARRINGTON SR VP COMMERCIAL REAL ESTATE 40.00 X 179046 0 37208 PAUL WELCH SR VP RISK MANAGEMENT 40.00 X 174070 0 7307 TAM-HAO NGUYEN VP ACCT & CORP CONTROLLER 40.00 X 146379 0 15870 MICHAEL WELCH VP LENDING 40.00 X 137924 0 29687 JOHN MARTINEZ REAL ESTATE CONSULTANT 40.00 X 130895 0 29406 1524742 0 226917 16 0 1 0 FISERV INC PO BOX 80123 CITY OF INDUSTRY CA 917168123 CORE SYSTEM MAINTENANCE 983813 CROWE HORWATH LLP PO BOX 51660 LOS ANGELES CA 900515960 AUDIT SERVICES 216509 KFORCE INC 1001 E PALM AVE TAMPA FL 33605 STAFFING AGENCY 153148 HABERFELD DIRECT INC TOTAL 206 S 13TH SUITE 1500 LINCOLN NE 68508 MARKETING SERVICES 139168 ARTEX RISK SOLUTIONS INC 39728 TREASURY CENTER CHICAGO IL 606949700 WORKERS COMP ADMIN 132522 9 INTEREST ON LOANS 522100 14048611 14048611 OTHER OPERATING INCOME 522100 5992330 5911358 80972 FEE INCOME 522100 2598374 2417852 180522 22639315 3583892 3583892 5322172 10 5253997 214 68175 -204 67971 67971 PROV FOR LOAN LOSSES 522100 338605 338605 OTHER NON-OPERATING INCOME 522100 11292 11292 349897 26641075 26379581 261494 0 X 22539 1524742 5867627 501378 1278309 687206 101590 249177 2337179 395210 645709 1631801 462821 270834 3339033 357330 LOAN SERVICING EXPENSE 1201996 MISC. OPERATING EXPENSE 650978 LOSS ON NON-TRADING DER 146681 OPERATING FEES 56707 33043 21761890 778644 830636 53828605 25779903 51569 37529 465795 496955 11619300 8885870 3058681 2733430 94319998 136152918 392470488 454381888 12263382 37763239 557237162 658176498 4637146 6624465 496261473 590351212 500898619 596975677 X 0 0 0 0 56338543 61200821 56338543 61200821 557237162 658176498 4879185 -16907 0 X X 0 1 X 1 0 1250000 1250000 3476063 2148744 1327319 614453 599043 15410 6278784 6138083 140701 2733430 ALL OTHER INVESTMENTS 6899561 F LOANS AND LEASES 370134110 F LOANS HELD FOR SALE 59199618 F NCUA SHARE INSURANCE CAP DEPOSITS 4380599 C MEMBERSHIP CAPITAL AT CORP. CUS 600000 C DEPOSITS IN COMMERCIAL BANKS 11923000 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CUS 1245000 C 454381888 ACCRUED INTEREST ON LOANS 976706 FORECLOSED ASSETS 758378 ACCRUED INTEREST ON INVESTMENTS 637819 ALL OTHER ASSETS 34962868 NON-TRADING DERIVATIVE ASSETS 427468 37763239 MEMBER SHARE DEPOSITS 457316292 DRAWS AGAINST LINE OF CREDIT 133000000 NON-TRADING DERIVATIVE 34920 590351212 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 CONSOLIDATED 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, 2016, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. 1 AMERICAN CANCER SOCIETY 1940 E DEERE AVE STE 100 SANTA ANA CA 92705 251798733 501(C)(3) 7338 FMV FIGHT BACK AGAINST CANCER BY HONORING CANCER SURVIVORS AND REMEMBERING THOSE WHO WERE LOST. FRIENDS OF THE CHILDREN'S MUSEUM AT LA HABRA 301 SEUCLID STREET LA HABRA CA 90631 330244625 501(C)(3) 5000 FMV TO ENCOURAGE ENTHUSIASM ABOUT LEARNING IN A HANDS-ON ENVIRONMENT THAT OPENS THE WORLD TO EVEN THE YOUNGEST CHILD. 2 0 X X 1 1 X X 0 1 0 JON SHIGEMATSU CEO/PRESIDENT 298331 0 35693 0 7744 0 10600 0 32097 0 384465 0 0 0 CHRISTOPHER LAWRENCE CFO 189492 0 22000 0 6178 0 8012 0 32941 0 258623 0 0 0 THERESA DAVY COO 171191 0 22000 0 2543 0 6854 0 16935 0 219523 0 0 0 ROBERT FARRINGTON SR VP COMMERCIAL REAL ESTATE 173809 0 5000 0 237 0 5314 0 31894 0 216254 0 0 0 PAUL WELCH SR VP RISK MANAGEMENT 146123 0 22000 0 5947 0 6083 0 1224 0 181377 0 0 0 TAM-HAO NGUYEN VP ACCT & CORP CONTROLLER 143781 0 2500 0 98 0 5919 0 9951 0 162249 0 0 0 MICHAEL WELCH VP LENDING 125872 0 11000 0 1052 0 5193 0 24494 0 167611 0 0 0 JOHN MARTINEZ REAL ESTATE CONSULTANT 129895 0 1000 0 0 0 5359 0 24047 0 160301 0 0 0 PART I, LINE 4B THE CREDIT UNION ESTABLISHED A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN EXECUTIVE/SENIOR MANAGEMENT EMPLOYEES UNDER INTERNAL REVENUE CODE (IRC) SECTION 457(F). CHRISTOPHER LAWRENCE OFFICER AUTO LOAN X 63322 37529 0 1 1 37529 FORM 990, PART VI, SECTION A, LINE 6 AMERICAN FIRST 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. AMERICAN FIRST CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF AMERICAN FIRST 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 990 IS PROVIDED TO THE BOD WHO RECOMMENDS CHANGES WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION CONFLICT OF INTEREST AND ETHICS POLICY IS MONITORED ON A REGULAR BASIS. COMPLIANCE IS MONITORED THROUGH THIRD PARTY AUDITS, THE INTERNAL AUDIT STAFF AND COMPLIANCE DEPARTMENTS. RELATED PARTY TRANSACTIONS ARE REPORTED TO THE GOVERNING BODY FOR REVIEW AND APPROPRIATENESS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO COMPENSATION IS DETERMINED BY THE ORGANIZATION'S GOVERNING BODY. THE BOARD REVIEWS THE CEO'S ACCOMPLISHMENTS, CREDIT UNION FINANCIAL POSITION, OTHER EXECUTIVE SALARIES AND INDUSTRY COMPENSATION SURVEYS FOR RANGES IN LIKE POSITIONS WITHIN THE INDUSTRY IN DETERMINING THE APPROPRIATE SALARY. THE SALARY AND COMPENSATION OF OTHER OFFICERS OF THE ORGANIZATION ARE DETERMINED BY THE CEO AND CHIEF OPERATING OFFICER. COMPENSATION LEVELS ARE DETERMINED THROUGH THE USE OF THIRD PARTY VENDORS THAT SUPPLY INDUSTRY COMPENSATION INFORMATION FOR LIKE ORGANIZATIONS BY ASSET SIZE AND REGIONAL COMPENSATION TRENDS. MINIMUM AND MAXIMUM COMPENSATION RANGES ARE ESTABLISHED FOR EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST TO MEMBERS OF THE ORGANIZATION. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 2,337,179. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. AMERICAN FIRST FINANCIAL SERVICES INC 700 NORTH HARBOR BLVD LA HABRA CA 90631 330820079 FINANCIAL SERVICES CA AMERICAN FIRST CREDIT UNION C 674 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 AMERICAN FIRST FINANCIAL SERVICES N AMOUNT BELOW REPORTING THRESHOLD AMERICAN FIRST FINANCIAL SERVICES O AMOUNT BELOW REPORTING THRESHOLD