2017-11-22T11:20:19-06:00 2016-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2016-01-01 950949175 FIREFIGHTERS FIRST CREDIT UNION FKA LOS ANGELES FIREMEN'S CREDIT UNION FIRE 3232541700 815 COLORADO BLVD LOS ANGELES CA 90041 DIXIE ABRAMIAN CEO 3232541700 2017-11-22 1 GERALD B KISSELL P00092658 6123324300 108.171.131.171 2017-11-22 11:17:42 CS P 01563F10D6676BDC9B96404AA3206AA292B808E6 65B732CC21A685C3520E3477F1E626F183C850C5 2016 2017-02-10 21:41:12Z DIXIE ABRAMIAN 815 COLORADO BLVD LOS ANGELES CA 90041 47577746 0 X WWW.FIREFIGHTERSFIRSTCU.ORG X 1935 CA TO PROVIDE FINANCIAL SERVICES EXCLUSIVELY TO FIREFIGHTERS THROUGHOUT THE STATE OF CALIFORNIA. WE STRIVE TO OFFER THE BEST RATES AND SERVICES TO OUR MEMBERSHIP. EFFECTIVE APRIL 18, 2017, WE ARE FEDERALLY INSURED AND OFFER SERVICES TO FIREFIGHTERS NATIONWIDE. 15 15 193 18 108164 17252 0 0 42911534 45579120 956466 1060761 574633 515605 44442633 47155486 12500 30000 7076089 8191483 14096471 15176841 0 0 0 17314589 16989612 38499649 40387936 5942984 6767550 1056273793 1150509281 950718464 1038123608 105555329 112385673 X TO PROVIDE FINANCIAL SERVICES EXCLUSIVELY TO FIREFIGHTERS THROUGHOUT THE STATE OF CALIFORNIA. WE STRIVE TO OFFER THE BEST RATES AND SERVICES TO OUR MEMBERSHIP. EFFECTIVE APRIL 18, 2017, WE ARE FEDERALLY INSURED AND OFFER SERVICES TO FIREFIGHTERS NATIONWIDE. 0 0 FIREFIGHTERS FIRST CREDIT UNION PROVIDES A VAST ARRAY OF REAL ESTATE LOANS AND SERVICES, WHICH INCLUDES 1ST TRUST DEEDS, 2ND'S, HOME EQUITY, CONSTRUCTION, LAND LOANS AND NON-OWNER OCCUPIED LOANS. IN ADDITION, WE SERVICE REAL ESTATE LOANS SOLD ON THE SECONDARY MARKET. AS OF DECEMBER 31, 2016, WE SERVICE OVER 4,270 LOANS TOTALING $683 MILLION. THROUGH OUR REAL ESTATE SERVICES, OUR EXPERT STAFF WILL ASSIST YOU FROM BEGINNING TO END INCLUDING THE ASSISTANCE OF THE DECISION OF PURCHASING A HOME. IN ADDITION, OUR STAFF WILL REVIEW ALL THE LOAN OPTIONS TO ENSURE MEMBERS ARE OBTAINING THE LOAN THAT BEST FITS THEIR NEEDS. WE SERVICE ALL REAL ESTATE LOANS WHETHER THEY ARE KEPT IN-HOUSE OR SOLD ON THE SECONDARY MARKET. TO ENSURE THE PROCESSING OF THE LOAN IS SMOOTH AND ACCURATE, WE ALSO COMPLETE ESCROW SERVICES IN-HOUSE FOR RE-FINANCES. FIREFIGHTERS FIRST CREDIT UNION PROVIDES ADDITIONAL INVESTMENT AND INSURANCE PRODUCTS AND SERVICES ABOVE OUR TRADITIONAL PRODUCTS AND SERVICES. OUR LICENSED FINANCIAL ADVISORS ARE REGISTERED THROUGH CUSO FINANCIAL SERVICES, L.P. ("CFS") AS BROKER DEALER, TO ASSIST OUR MEMBERS WITH THEIR FINANCIAL NEEDS FROM COLLEGE EDUCATION TO RETIREMENT. AS OF DECEMBER 31, 2016, WE HAVE OVER 1,100 HOUSEHOLD ACCOUNTS WITH OVER $200 MILLION IN ASSETS UNDER MANAGEMENT. MEMBERS ARE WELCOME TO COME IN AND SPEAK WITH OUR FINANCIAL ADVISORS. WE OFFER A COMPLIMENTARY NO OBLIGATION CONSULTATION AND ACCOUNT PROFILE. *NON-DEPOSIT INVESTMENT PRODUCTS AND SERVICES OFFERED THROUGH CUSO FINANCIAL SERVICES, L.P. (CFS), A REGISTERED BROKER/DEALER (MEMBER FINRA/SIPC) AND SEC REGISTERED INVESTMENT ADVISOR. PRODUCTS OFFERED THROUGH CFS: ARE NOT INSURED BY AMERICAN SHARE INSURANCE (ASI) OR OTHERWISE FEDERALLY INSURED, ARE NOT GUARANTEES OR OBLIGATIONS OF THE CREDIT UNION, AND MAY INVOLVE INVESTMENT RISK INCLUDING POSSIBLE LOSS OF PRINCIPAL. INVESTMENT REPRESENTATIVES ARE REGISTERED THROUGH CFS. FIREFIGHTERS FIRST CREDIT UNION HAS CONTRACTED WITH CFS TO MAKE NON-DEPOSIT INVESTMENT PRODUCTS AND SERVICES AVAILABLE TO ITS MEMBERS. FIREFIGHTERS FIRST CREDIT UNION OFFERS A FULL SUITE OF BUSINESS SERVICES FROM SAVINGS, CHECKING, BUSINESS LOANS AND COMMERCIAL REAL ESTATE LOANS. WE HAVE PROFESSIONAL STAFF TO ASSIST MEMBERS WITH THEIR BUSINESS NEEDS. ADDITIONAL SERVICES SUCH AS PAYROLL AND CREDIT CARD PROCESSING ARE ALSO AVAILABLE. OUR CHECKING AND BUSINESS VISA ACCOUNTS OFFER REWARD POINTS WHEN USING THE CHECK CARD OR VISA CARD. AS OF DECEMBER 31, 2016, WE SERVICE OVER 2,000 LOANS TOTALING OVER $88 MILLION. IN MARCH 2010, FIREFIGHTERS FIRST CREDIT UNION PARTNERED WITH AN INSURANCE COMPANY TO CREATE "FIREFIGHTERS INSURANCE SERVICES" (FIS). THIS SERVICE PROVIDES MEMBERS WITH COMPETITIVE RATES FOR AUTO, HOMEOWNERS, EARTHQUAKE AND LIFE INSURANCE. THROUGH FIS WE ALSO OFFER INSURANCE COVERAGE TO LARGE ORGANIZATIONS SUCH AS OTHER CREDIT UNIONS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 1 1 1 1 0 1 22080 0 1 193 1 1 1 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X CINDY IWAMOTO 3235502201 815 COLORADO BLVD LOS ANGELES CA 90041 SCOTT GRIBBONS CHAIR 30.00 X X 0 0 0 JOHN BUCK 1ST VICE CHAIR 10.00 X X 0 0 0 RICHARD FRAWLEY 2ND VICE CHAIR 10.00 X X 0 0 0 RONALD JACKSON TREASURER 10.00 X X 0 0 0 GREG PORTER SECRETARY 10.00 X X 0 0 0 LAWRENCE METZ DIRECTOR 5.00 X 0 0 0 GERALD HORWEDEL DIRECTOR 5.00 X 0 0 0 VINCE CARDINALE DIRECTOR 5.00 X 0 0 0 WAYNE SCHUETZ DIRECTOR 5.00 X 0 0 0 JOHN M DODD DIRECTOR 5.00 X 0 0 0 JOHN CERMAK DIRECTOR 5.00 X 0 0 0 PAT ENGEL DIRECTOR 5.00 X 0 0 0 SHELDON MCKOWAN DIRECTOR 5.00 X 0 0 0 JOHN DUCA DIRECTOR 5.00 X 0 0 0 MARV WILLIAMS DIRECTOR 5.00 X 0 0 0 MICHAEL MASTRO CEO 55.00 X 604167 0 438223 DIXIE ABRAMIAN EVP 60.00 X 418816 0 42648 BRADLEY MILLER CFO 60.00 X 159403 0 13666 RICHARD DILLON CFO 60.00 X 31922 0 0 KELLY RAMSAY SVP MARKETING 60.00 X 233807 0 15428 MATTHEW MITCHELL SVP LENDING/OPERATIONS 60.00 X 292585 0 30541 DYAN MASHMAN SVP IT 60.00 X 235518 0 26381 MARY STEUDLE SVP HR 60.00 X 218405 0 21163 CYNTHIA IWAMOTO VP CONTROLLER 55.00 X 182007 0 35520 SUNDEEP JAIN VP LENDING 55.00 X 180879 0 17612 JASON TORREY-PAYNE FINANCIAL ADVISOR 45.00 X 397084 0 38289 ANDY TRAN DIRECTOR TECHNICAL SERVICE 50.00 X 153483 0 15913 STACEY MILLER DIRECTOR REGIONAL OFFICES 50.00 X 119588 0 13453 CHRISTINA MEYERS DIRECTOR IT/OPERATIONS 50.00 X 118218 0 9575 JOSEPH KIM SENIOR SYSTEM ENGINEER 50.00 X 116532 0 9326 3462414 0 727738 19 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53045 SYSTEM CORE PROCESSOR 1111060 DIGITAL INSIGHT 1300 SEAPORT BLVD SUITE 300 REDWOOD CITY CA 94063 HOME BANKING 949439 WASATCH 807 E SOUTH TEMPLE SALT LAKE CITY UT 84102 JANITORIAL SERVICES 412497 CLICK PO BOX 56834 HAYWARD CA 94545 APPRAISAL SERVICE 345020 AT&T 208 SOUTH AKARD ST DALLAS TX 75202 PHONE SYSTEM 343237 22 LOAN INCOME 522100 35135027 35135027 INTERCHANGE INCOME 522100 4314675 4314675 OTHER OPERATING INCOME 522100 2103562 2103562 REAL ESTATE FEE INCOME 522100 1885133 1885133 FEE INCOME 522100 1201662 1093498 108164 939061 939061 45579120 1060761 1060761 937865 422260 515605 515605 515605 47155486 45470956 108164 1576366 X 30000 8191483 3236888 9478420 28815 1523491 909227 197533 49835 34073 4565370 762455 2595005 1165830 583579 143158 2466498 178699 LOAN SERVICING EXPENSE 2785706 COURIER SERVICE 291277 HUMAN RESOURCE/TRAINING 271150 899444 40387936 3187921 4436586 2965000 1229000 2056570 14065519 887790672 898772308 1301403 1397636 40796027 23364044 18601115 17431983 3377303 3079214 116523284 187951304 20470525 22145731 1056273793 1150509281 633920 10434571 1251505 797106 37500000 0 911333039 1026891931 950718464 1038123608 X 0 0 0 0 105555329 112385673 105555329 112385673 1056273793 1150509281 6767550 -19962 82756 0 X 0 1 X 1 0 0 1 X 2653197 2653197 22191895 11108253 11083642 9469346 7424021 2045325 6481589 4831770 1649819 17431983 OTHER INSTITUTION INVESTMENTS 172911138 C ALLOYA INVESTMENTS 15040166 C 187951304 MEMBER SHARE DEPOSITS 1026891931 1026891931 PART IV, LINE 2B: CU HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. 1 EDUCATIONAL SCHOLARSHIPS 6 30000 PART I, LINE 2: EACH YEAR FIREFIGHTERS FIRST CREDIT UNION OFFERS SCHOLARSHIP AWARDS. APPLICANTS ARE REQUIRED TO SUBMIT INFORMATION REGARDING THEIR CURRENT GPA, ANY VOLUNTEER WORK, COMMUNITY ACTIVITIES, AWARDS, ETC. IN ADDITION, EACH APPLICANT IS REQUIRED TO SUBMIT AN ESSAY ON A TOPIC THAT THE CREDIT UNION CHOOSES. THE ESSAYS ARE REVIWED BY THE QUALITY COMMITTEE AND THE TOP TEN ARE SENT FOR FURTHER REVIEW BY A SELECTED GROUP OF BOARD MEMBERS. THE TOP SIX OVERALL SCORES WERE SELECTED AS RECIPIENTS IN 2016. X 1 1 X X X 1 1 0 MICHAEL MASTRO CEO 486748 0 101141 0 16278 0 421234 0 29336 0 1054737 0 0 0 DIXIE ABRAMIAN EVP 355027 0 51602 0 12187 0 18550 0 29297 0 466663 0 0 0 BRADLEY MILLER CFO 137591 0 21450 0 362 0 9518 0 7025 0 175946 0 0 0 KELLY RAMSAY SVP MARKETING 206940 0 25438 0 1429 0 14269 0 4567 0 252643 0 0 0 MATTHEW MITCHELL SVP LENDING/OPERATIONS 262192 0 28738 0 1655 0 18200 0 17737 0 328522 0 0 0 DYAN MASHMAN SVP IT 208384 0 25050 0 2084 0 12439 0 17109 0 265066 0 0 0 MARY STEUDLE SVP HR 195604 0 21413 0 1388 0 13650 0 10385 0 242440 0 0 0 CYNTHIA IWAMOTO VP CONTROLLER 158231 0 19740 0 4036 0 11515 0 26585 0 220107 0 0 0 SUNDEEP JAIN VP LENDING 168073 0 11525 0 1281 0 11768 0 6195 0 198842 0 0 0 JASON TORREY-PAYNE FINANCIAL ADVISOR 393947 0 2000 0 1137 0 11858 0 26859 0 435801 0 0 0 ANDY TRAN DIRECTOR TECHNICAL SERVICE 140682 0 11880 0 921 0 9849 0 6322 0 169654 0 0 0 PART I, LINE 1A FIREFIGHTERS FIRST CREDIT UNION PROVIDES TRAVEL FOR COMPANIONS. THE COST OF COMPANION TRAVEL IS TREATED AS COMPENSATION TO THE APPROPRIATE EMPLOYEE OR MEMBER OF THE BOARD. PART I, LINES 4A-B CHRISTINA MEYERS RECEIVED A $31,750 SEVERANCE PAYMENT IN 2016. MICHAEL MASTRO, CHIEF EXECUTIVE OFFICER, PARTICIPATES IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS IN 2016. BROOKLYN KLECKLEY DAUGHTER OF EMPLOYEE 5000 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE REVIEWED BY THE VP CONTROLLER, CFO AND CEO AND ALSO PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS ALL EMPLOYEES AND BOARD OF DIRECTORS COMPLETE AND SIGN AN INDIVIDUAL DISCLOSURE INDICATING ANY POSSIBLE CONFLICT OF INTEREST. THIS IS THEN REVIEWED BY HUMAN RESOURCES, INTERNAL AUDIT, AND THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS HUMAN RESOURCES COMPLETES AN ANALYSIS OF ALL POSITIONS UTILIZING DATA FROM THIRD PARTY SURVEYS AND PRESENTS THE COMPENSATION TO THE CEO. IN ADDITION, ON OCCASION, THE CREDIT UNION WILL USE AN INDEPENDENT THIRD PARTY TO CONDUCT A DETAILED REVIEW FOR OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE CREDIT UNION ALSO SENDS QUARTERLY CALL REPORTS DATA ON THEIR FINANCIALS TO THE REGULATORY AGENCY, NCUA AND ASI. FORM 990, PART IX, LINE 11G ATM SERVICES 715,814. DEPOSITORY SERVICES 955,488. CONSULTANTS 2,894,068. FIREFIRST ENTERPRISES LLC 815 COLORADO BLVD LOS ANGELES CA 90041 320206848 HOLDING COMPANY CA -33024 394333 FIREFIGHTERS FIRST CREDIT UNION FIRE FAMILY FOUNDATION 815 COLORADO BLVD LOS ANGELES CA 90041 364613248 FUNDRAISING CA 501(C)(3) 170(B)(1)(A)(VI) FIREFIGHTERS FIRST CREDIT UNION 1 FIREFIGHTER INSURANCE SERVICES 815 COLORADO BLVD LOS ANGELES CA 90041 271428085 INSURANCE SERVICES CA N/A C 75169 274491 0.51000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 FIRE FAMILY FOUNDATION L 94430 ARMS LENGTH THE 2016 FORM 990 FOR FIREFIGHTERS FRIST CREDIT UNION WAS ORIGINALLY ELECTRONICALLY FILED WITH THE IRS ON NOVEMBER 10, 2017; HOWEVER THE RETURN WAS REJECTED. FIREFIGHTERS FIRST CREDIT UNION HAS AN ELECTRONIC FILING REQUIREMENT AND WAS UNABLE TO FILE A PAPER RETURN. THE IRS WAS CONTACTED TO RESOLVE THE ISSUE AND FORM 990 WAS RESUBMITTED VIA ELECTRONIC FILING ON NOVEMBER 22, 2017. WE RESPECTFULLY REQUEST NO LATE FILING PENATLIES BE ASSESSED BASED ON REASONABLE CAUSE.