2016-07-22T17:39:45-05:00 2015-12-31 910189318 Moss Adams LLP 805 SW Broadway Ste 1200 Portland OR 97205 990 2015-01-01 951652773 First Imperial Credit Union FIRS 7603521540 1602 W Main Street El Centro CA 92243 FIDEL GONZALEZ CEO 7603521540 2016-07-13 1 Wendy Campos P00448102 5032421447 2016-07-13 2015 2016-12-15 16:53:06Z FIDEL GONZALEZ 1602 W Main Street El Centro CA 92243 5895985 0 X www.ficu.com X 1942 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 60 7 85251 -15531 0 0 5527097 5708911 375974 182123 0 0 5903071 5891034 6654 8526 0 0 1980241 2108242 0 0 0 3100913 2845920 5087808 4962688 815263 928346 78125458 84942117 70330104 76106637 7795354 8835480 X See Schedule OA cooperative organized for the purpose of promoting thrift and savings among its members, creating a source of credit for members 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, First Imperial Credit Union conducts business for the mutual benefit and general welfare of its members with the earnings, savings, benefits, or services of the credit union being distributed to its members. 0 0 the credit union provides financial services to members including access to share accounts, certificates of deposit and retirement savings accounts, with active promotion of ATM/debit cards, electronic bill pay and home banking. members also have access to consumer loans, including vehicle loans, personal lines of credit and credit cards. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1033 0 1 60 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 0 1 1 1 0 CA X ROGELIO A GAMEZ 7603551007 1602 W Main Street El Centro CA 92243 Josh Mercado BoaRD CHAIRPERSON 5.00 X X 0 0 0 Tuen CHUN BOARD vice chair/secretary 5.00 X X 0 0 0 VICTOR JAIME BOARD SECretary/chair 5.00 X X 0 0 0 MICHAEL CAMPBELL BOARD TREASURER/vice chair 5.00 X X 0 0 0 KATIE LUNA BOARD TREASURER 5.00 X X 0 0 0 Gilbert Otero BoARD MEMBER 5.00 X 0 0 0 CHRISTOPHER PETREE BOARD member 5.00 X 0 0 0 FIDEL GONZALEZ PRESIDENT/CEO 40.00 X 169850 0 47462 CUAUHTEMOC DE LA TORRE EVP/CFO 40.00 X 120466 0 27449 290316 0 74911 2 0 1 0 Castillo Construction Company 400 N Imperial Ave Suite 1 Imperial CA 92251 CONTRACTOR 919281 Jack Henry & Associates Inc PO BOX 609 Monett MO 65708 IT & MAINTENANCE 245273 Cash Cycle Solutions 3035-R Horseshoe Lane Charlotte NC 28208 Data Processing 109973 3 LOAN INCOME 522100 3803879 3803879 FEES AND CHARGES 522100 1614070 1528819 85251 INTERCHANGE INCOME 522100 290962 290962 5708911 187074 187074 4951 -4951 -4951 -4951 5891034 5623660 85251 182123 8526 312278 1312389 197434 138746 147395 28922 43895 133406 129747 638333 243484 355548 213150 122939 UBI TAXES 8510 PROVISION FOR LOAN LOSS 345905 OPERATING EXPENSE 335977 LOAN SERVICING EXPENSE 125557 120547 4962688 9941484 9694094 5628000 7719000 52712638 56646774 5140016 1527646 1186611 3612370 4010881 4650872 4645844 2619007 78125458 84942117 958680 958481 69371424 75148156 70330104 76106637 X 0 0 0 0 7795354 8835480 7795354 8835480 78125458 84942117 X 928346 18785 92995 X 0 1 X 1 0 561120 561120 2827363 411631 2415732 278990 165866 113124 1159663 670497 489166 312880 279652 33228 3612370 MEMBER DEPOSITS 75148156 75148156 X 5895985 0 5895985 -4951 -4951 5891034 4967639 4951 4951 4962688 0 4962688 Part X, Line 2: THE CREDIT UNION IS STATE CHARTERED AND FEDERALLY TAX-EXEMPT UNDER THE INTERNAL REVENUE CODE 501(C)(14), EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. A TAX-EXEMPT ORGANIZATION AND UNRELATED BUSINESS INCOME TAX RETURN IS FILED ANNUALLY WITH THE INTERNAL REVENUE SERVICE AND IN CALIFORNIA. THE CREDIT UNION HAS HAD NO UNRECOGNIZED TAX BENEFITS WHICH WOULD REQUIRE RECOGNITION AS OF DECEMBER 31, 2015 OR 2014. IN ADDITION, THE CREDIT UNION RECOGNIZES INTEREST ACCRUED AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AS AN ADMINISTRATIVE EXPENSE. DURING THE YEARS ENDED DECEMBER 31, 2015 AND 2014, THE CREDIT UNION RECOGNIZED NO INTEREST AND PENALTIES FOR INCOME TAXES. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE/LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2011. Part XI, Line 4b - Other Adjustments: gain/loss included in expense for book -4,951. Part XII, Line 2d - Other Adjustments: gain/loss included in expense for book 4,951. X X X 0 0 0 FIDEL GONZALEZ PRESIDENT/CEO 169850 0 0 0 0 0 39880 0 7582 0 217312 0 0 0 Form 990, Part VI, Section A, line 6 THE ORGANIZATION CONSISTS OF MEMBERS. Form 990, Part VI, Section A, line 7a The governing board of First Imperial Credit Union is comprised of volunteer members who are directly elected by members of the credit union. Each member of the governing board serves for a period as described by our by-laws. Form 990, Part VI, Section A, line 7b At the end of each term of the board, elections are held and board members are voted on 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 11 A copy of Form 990 was sent to the board of directors for review prior to its filing. Form 990, Part VI, Section B, line 12c The board, staff and management of the organization review the conflict of interest policy and acknowledge compliance on an annual basis. Form 990, Part VI, Section B, line 15 Compensation for the CEO, officers, and key employees is recommended by an outside consultant. CEO compensation is approved by the Board. Form 990, Part VI, Section C, line 19 The financial statements for the credit union are available on a monthly basis and posted within the branch. Financial statements are also posted to a secure website available to the governing board members. Form 990, Part XI, line 9: CHANGE IN OTHER COMPREHENSIVE INCOME 92,995.