VISTERRA CREDIT UNION: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- VISTERRA CREDIT UNION (EIN 95-1803229)
- Tax period
- 2014-01-01 to 2014-12-31
- Filed
- 2015-05-07
- IRS object ID
- 201501279349301635
- Schema version
- 2014v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-05-07T19:43:23-05:00 | ReturnTs |
| Tax Period End | 2014-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 954083485 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TURNER WARREN HWANG & CONRAD ACCTCY | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 NORTH FIRST ST STE 202 | AddressLine1Txt |
| City | BURBANK | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 91502 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 951803229 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VISTERRA CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VIST | BusinessNameControlTxt |
| Phone | 9516564411 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 9500 | AddressLine1Txt |
| City | MORENO VALLEY | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 925529500 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TL SHRYOCK | PersonNm |
| Person Title | SENIOR VP/CFO | PersonTitleTxt |
| Phone | 9516564411 | PhoneNum |
| Signature | 2015-05-04 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | VALENTINO CREUS CPA | PreparerPersonNm |
| PTIN | P01054153 | PTIN |
| Phone | 8189549700 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROBERT CAMERON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 9500 | AddressLine1Txt |
| City | MORENO VALLEY | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 925529500 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $47,028,308 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.VISTERRACU.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1953 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 139 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $93,758 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$216,553 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $15,728,481 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $16,049,064 | CYProgramServiceRevenueAmt |
| PY Investment Income | $857,535 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,440,799 | CYInvestmentIncomeAmt |
| PY Other Revenue | $470,588 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $17,056,604 | PYTotalRevenueAmt |
| CY Total Revenue | $17,489,863 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,325,246 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,666,339 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $8,289,591 | PYOtherExpensesAmt |
| CY Other Expenses | $10,754,978 | CYOtherExpensesAmt |
| PY Total Expenses | $14,614,837 | PYTotalExpensesAmt |
| CY Total Expenses | $17,421,317 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,441,767 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $68,546 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $332,790,342 | TotalAssetsBOYAmt |
| Total Assets EOY | $335,609,213 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $305,947,563 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $308,565,590 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $26,842,779 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $27,043,623 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | VISTERRA 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, VISTERRA CREDIT UNION CONDUCTS ITS 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 AS PATRONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE LOANS AND LENDING PRODUCTS TO OUR MEMBERS AT COMPETITIVE RATES AND TERMS. MANY WOULD NOT QUALIFY FOR LOANS AT OTHER FINANCIAL INSTITUTIONS. THESE LOANS INCLUDE: VEHICLE LOANS, HOME MORTGAGES, HELOC LOANS, SIGNATURE LOANS AND CREDIT CARD LOANS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE FINANCIAL SERVICES TO OUR MEMBERS FOR PARTICIPATING IN THE PRODUCTS AND SERVICES OFFERED TO THE MEMBERSHIP AT COMPETITIVE PRICES AND TERMS. THIS WOULD INCLUDE: SAVINGS ACCOUNTS, CHECKING ACCOUNTS, ATM SERVICES, HOME BANKING SERVICES, BILL PAYMENT SERVICES, NOTARY SERVICES, DEBIT CARD SERVICES, SHARED BRANCHING SERVICES, INSURANCE PRODUCTS RELATED TO THESE SERVICES, AND OTHER INVESTMENT SERVICES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE CERTIFICATE, CHECKING AND SAVINGS ACCOUNTS TO OUR MEMBERS AT COMPETITIVE RATES AND TERMS. THIS WOULD INCLUDE: SAVINGS ACCOUNTS, CHECKING ACCOUNTS, MONEY MARKET ACCOUNTS, IRA SAVINGS ACCOUNTS, ESCROW ACCOUNTS, AND CERTIFICATES OF DEPOSITS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 4477 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 139 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TLSHRYOCK | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9516564411 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 23520 CACTUS AVENUE | AddressLine1Txt |
| City | MORENO VALLEY | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92553 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| BARBARA PURVIS | |||||||
| CHAIRMAN | 10.00 | Yes (X) | $0 | $0 | $0 | ||
| GARY BAUGH | |||||||
| VICE CHAIRMAN | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH CALDERON | |||||||
| SECRETARY | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| GEORGE PRICE | |||||||
| TREASURER | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| NORMAN PERRY | |||||||
| BOARD MEMBER | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| ALAN STRZEMIECZNY | |||||||
| BOARD MEMBER | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| PERRY REED | |||||||
| BOARD MEMBER | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBIN WETMORE | |||||||
| SUPV CMTE CHAIR | 10.00 | Yes (X) | $0 | $0 | $0 | ||
| RIX SKONBERG | |||||||
| SUPV CMTE SECRETARY | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBERT CAMERON | |||||||
| PRESIDENT/CEO | 40.00 | $230,812 | $0 | $277,106 | Yes (X) | ||
| TOMMIE SHRYOCK | |||||||
| SVP/CFO | 40.00 | $193,329 | $0 | $20,187 | Yes (X) | ||
| JANET DUHAIME SUCHOCKI | |||||||
| SVP/COO | 40.00 | $174,672 | $0 | $17,916 | Yes (X) | ||
| RON HELDER | |||||||
| VP INFO TECH | 40.00 | $155,070 | $0 | $18,737 | Yes (X) | ||
| JON FRIESTEDT | |||||||
| VP LENDING | 40.00 | $144,259 | $0 | $20,903 | Yes (X) | ||
| LESA VONDRACEK | |||||||
| VP HUMAN RESOURCES | 40.00 | $141,106 | $0 | $24,079 | Yes (X) | ||
| MATT KAHN | |||||||
| CONSUMER LOAN MANAGER | 40.00 | $108,422 | $0 | $11,104 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,147,670 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $390,032 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 7 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FTSI INC | |||||
| 676 W WILSON AVE | GLENDALE | CA | 91203 | ATM INSTALLATION | $1,873,204 |
| CU COOPERATIVE SYSTEMS INC | |||||
| 9692 HAVEN AVE | RANCHO CUCAMONGA | CA | 91730 | ATM SERVICES | $624,522 |
| BUSINESS DATA INC | |||||
| PO BOX 6081 | INGLEWOOD | CA | 90312 | MAILING HOUSE SVC | $280,379 |
| PSCU | |||||
| 19825 N 7TH ST | PHOENIX | AZ | 85024 | BILLING SERVICES | $236,126 |
| DH | |||||
| 605 CRESCENT EXECUTIVE COURT | LAKE MARY | FL | 32746 | COMPUTER SYSTEM/MAINTENANCE | $200,379 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $11,324,917 | $11,324,917 | |
| FEE INCOME | 522100 | $3,229,094 | $3,229,094 | |
| OTHER OPERATING INCOME | 522100 | $1,495,053 | $1,401,295 | $93,758 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $16,049,064 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $583,858 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $583,858 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,726,453 | SecuritiesAmt |
| Other | $3,668,933 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,899,415 | SecuritiesAmt |
| Other | $2,639,030 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$172,962 | SecuritiesAmt |
| Other | $1,029,903 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $856,941 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $856,941 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $17,489,863 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,396,105 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $93,758 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,147,670 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,301,532 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $163,678 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $609,231 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $444,228 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,014 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $125,777 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $525,084 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $488,397 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,237,614 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $614,281 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,061,047 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,818 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $848,165 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,512,936 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $110,319 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN & LE | $1,867,925 |
| ATM EXPENSES | $992,970 |
| LOAN SERVICING EXPENSES | $855,563 |
| MISC OPERATING EXPENSES | $383,362 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,706 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,421,317 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,487,286 | BOYAmt |
| EOY | $5,323,969 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,708,218 | BOYAmt |
| EOY | $22,586,161 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $429,080 | BOYAmt |
| EOY | $455,419 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $29,642,090 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $14,500,456 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,626,927 | BOYAmt |
| EOY | $15,141,634 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,745,143 | BOYAmt |
| EOY | $14,871,972 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $275,934,682 | BOYAmt |
| EOY | $270,143,576 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,859,006 | BOYAmt |
| EOY | $7,086,482 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $332,790,342 | BOYAmt |
| EOY | $335,609,213 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,192,011 | BOYAmt |
| EOY | $5,516,427 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $300,755,552 | BOYAmt |
| EOY | $303,049,163 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $305,947,563 | BOYAmt |
| EOY | $308,565,590 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,842,779 | BOYAmt |
| EOY | $27,043,623 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,842,779 | BOYAmt |
| EOY | $27,043,623 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $332,790,342 | BOYAmt |
| EOY | $335,609,213 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $68,546 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $132,298 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $124,857 | OtherCostOrOtherBasisAmt |
| Book Value | $124,857 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,356,955 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,966,585 | DepreciationAmt |
| Book Value | $11,390,370 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,360,935 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,120,331 | DepreciationAmt |
| Book Value | $240,604 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,799,343 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,413,540 | DepreciationAmt |
| Book Value | $3,385,803 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $15,141,634 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (6 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| ALL OTHER INVESTMENTS | $6,905,476 | F |
| NET LOANS AND LEASES | $222,405,082 | F |
| NCUA SHARE INSURANCE DEPOSIT | $2,904,443 | C |
| DEPOSITS IN COMMERCIAL BANKS | $37,112,000 | C |
| LOANS HELD FOR SALE | $216,575 | F |
| PAID IN CAPITAL AT CORP CUS | $600,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $270,143,576 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TOTAL SHARES & DEPOSITS | Desc |
| Amt | $303,049,163 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $303,049,163 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | FASB 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 WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED MARCH 31, 2014 MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION IS GENERALLY NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AUTHORITIES FOR TAX YEARS BEFORE 2010 AND BY STATE TAX AUTHORITIES BEFORE 2009. FOR THE YEAR ENDED MARCH 31, 2014, 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROBERT CAMERON | ||||||||||||||
| PRESIDENT/CEO | $221,762 | $0 | $0 | $0 | $9,050 | $0 | $261,548 | $0 | $15,558 | $0 | $507,918 | $0 | $0 | $0 |
| TOMMIE SHRYOCK | ||||||||||||||
| SVP/CFO | $190,378 | $0 | $0 | $0 | $2,951 | $0 | $5,777 | $0 | $14,410 | $0 | $213,516 | $0 | $0 | $0 |
| JANET DUHAIME SUCHOCKI | ||||||||||||||
| SVP/COO | $173,743 | $0 | $0 | $0 | $929 | $0 | $5,328 | $0 | $12,588 | $0 | $192,588 | $0 | $0 | $0 |
| RON HELDER | ||||||||||||||
| VP INFO TECH | $153,345 | $0 | $0 | $0 | $1,725 | $0 | $4,787 | $0 | $13,950 | $0 | $173,807 | $0 | $0 | $0 |
| JON FRIESTEDT | ||||||||||||||
| VP LENDING | $141,966 | $0 | $0 | $0 | $2,293 | $0 | $697 | $0 | $20,206 | $0 | $165,162 | $0 | $0 | $0 |
| LESA VONDRACEK | ||||||||||||||
| VP HUMAN RESOURCES | $139,483 | $0 | $0 | $0 | $1,623 | $0 | $4,485 | $0 | $19,594 | $0 | $165,185 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | IN MARCH 2005, THE CREDIT UNION ENTERED INTO A 457(B) DEFERRED COMPENSATION AGREEMENT WITH EXECUTIVES THAT PROVIDES BENEFITS PAYABLE TO THE EMPLOYEES, IF THEY REMAIN EMPLOYED BY THE CREDIT UNION. ROBERT CAMERON, PRESIDENT/CEO IS THE ONLY CURRENT PLAN PARTICIPANT. AS DEFINED IN THE AGREEMENT, IF THE EMPLOYEES BECOME FULLY DISABLED, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE AND BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE. THE AGREEMENT IS FUNDED BY A MODIFIED PREMIUM WHOLE LIFE INSURANCE POLICY. THE CONTRACT GUARANTEES THE CREDIT UNION EARNS A MINIMUM RETURN ON ITS INSURANCE POLICY INVESTMENTS. THE AGREEMENT AND INSURANCE POLICIES ARE REVALUED ANNUALLY ON THE ANNIVERSARY DATE OF MARCH 31 OF EACH YEAR, AT WHICH TIME THE LIABILITY IS ADJUSTED. THE ACCRUED LIABILITY RELATED TO THIS AGREEMENT WAS $1,170,987 AS OF DECEMBER 31, 2014. THE AMOUNT ACCRUED IN 2014 WAS $256,268. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | VISTERRA 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. VISTERRA CREDIT UNION DOES NOT HAVE STOCKHOLDERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE GOVERNING BOARD OF VISTERRA 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 11 | THE FORM AND RELATED DOCUMENTS WILL BE REVIEWED BY THE CFO, THEN IT WILL BE REVIEWED BY THE CEO, FINALLY IT WILL BE PRESENTED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW AND APPROVAL BEFORE BEING FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH BOARD MEMBER, EMPLOYEE, AND VOLUNTEER HAS THE RESPONSIBILITY TO PROMPTLY REPORT ANY OFFER OR SOLICITATION FROM ANYONE WHO DOES BUSINESS WITH THE CREDIT UNION OF AN ACTIVITY INVOLVING PERSONAL PROFIT, GAIN, OR BENEFIT TO ANY COMPANY EMPLOYEE OR OFFICIAL. EMPLOYEES SHALL REPORT ANY SITUATIONS COVERED BY THE POLICY TO HIS/HER IMMEDIATE SUPERVISOR OR MANAGER. REPORTS RECEIVED BY SUPERVISORS AND MANAGERS WILL BE FORWARDED TO THE PRESIDENT OR HIS DESIGNEE. OFFICIALS SHALL REPORT SITUATIONS COVERED BY THIS POLICY TO THE CHAIRMAN OF THE BOARD OF DIRECTORS. THE PRESIDENT SHALL MAINTAIN A FILE FOR ALL REPORTS OF POTENTIAL OR ACTUAL CONFLICTS. |
| FORM 990, PART VI, SECTION B, LINE 15 | IT IS THE POLICY OF THE CREDIT UNION TO MAINTAIN A WAGE AND SALARY PROGRAM THAT IS COMPETITIVE WITH THOSE IN OUR INDUSTRY AND IN OUR COMMUNITY. IT IS ALSO OUR DESIRE TO RECOGNIZE THE CONTRIBUTION OF EACH INDIVIDUAL TO THE SUCCESS OF THE ORGANIZATION. THEREFORE, THE CREDIT UNION HAS ESTABLISHED JOB GRADES AND PAY RANGES FOR EACH OF OUR JOB POSITIONS. A PAY RANGE INCLUDES A MINIMUM, 25TH PERCENTILE, 50TH PERCENTILE, 75TH PERCENTILE, AND MAXIMUM WAGE FOR A JOB GRADE. ALL PAY RANGES FOR ALL JOB GRADES ARE HELD IN COMPLETE CONFIDENCE BY THE VICE PRESIDENT OF HUMAN RESOURCES. MANAGEMENT PERSONNEL ARE DISTRIBUTED THE JOB GRADES AND PAY RANGES FOR THEIR AREAS OF RESPONSIBILITY. NEW EMPLOYEES ARE TYPICALLY HIRED AT A PAY RATE THAT FALLS BETWEEN THE MINIMUM AND THE 50TH PERCENTILE FOR THE JOB GRADE. WHEN A CANDIDATE HAS EXTENSIVE AND/OR SPECIALIZED EXPERIENCE, A HIGHER STARTING RATE MAY BE JUSTIFIED. OVER TIME, EMPLOYEES WHO ARE CONSIDERED FULLY QUALIFIED IN THEIR POSITION TYPICALLY RECEIVE A RATE THAT FALLS BETWEEN THE 50TH AND 75TH PERCENTILES. EMPLOYEES WHO ARE RECEIVING A RATE IN EXCESS OF THE 75TH PERCENTILE HAVE DEMONSTRATED A SUSTAINED PERFORMANCE ABOVE A FULLY QUALIFIED LEVEL. JOB GRADES AND PAY RANGES ARE REVIEWD EACH YEAR TO DETERMINE THEIR ADEQUACY AND COMPETITIVENESS FOR BUSINESS CONDITIONS. THE PRESIDENT WILL CONDUCT THE REVIEW BY DECEMBER 31ST FOR THE FOLLOWING YEAR AND SUBMIT MODIFICATIONS, IF ANY, TO THE BOARD OF DIRECTORS FOR APPROVAL. WHEN ADJUSTMENTS TO THE MINIMUM PAY RANGE IN ANY JOB GRADE ARE APPROVED, THE WAGES OF ACTIVE EMPLOYEES EARNING LESS THAN NEW PAY RANGE MINIMUM WILL ALSO BE ADJUSTED AS DIRECTED BY THE PRESIDENT. THE PERFORMANCE APPRAISAL PROCESS AND THE GRANTING OF MERIT INCREASES ARE INTERTWINED. ANNUAL PERFORMANCE REVIEWS ARE CONDUCTED ON OR ABOUT THE EMPLOYEE'S ANNIVERSARY DATE OF HIRE OR MOST RECENT PROMOTION, QUALIFYING TRANSFER, OR DEMOTION. THE OVERALL RATING THAT AN EMPLOYEE RECEIVES DETERMINES THE PERCENTAGE OF HIS/HER MERIT INCREASE. A MERIT INCREASE BECOMES EFFECTIVE ON THE FIRST DAY OF THE PAY PERIOD FOLLOWING AN EMPLOYEE'S PERFORMANCE APPRAISAL REVIEW DATE. EMPLOYEES WHO RECEIVE A RATING OF NEEDS IMPROVEMENT OR UNACCEPTABLE IN ANY INDIVIDUAL AREA RATED OR OVERALL WILL NOT RECEIVE A MERIT INCREASE. EMPLOYEES WHO ARE EARNING AT OR ABOVE THE PAY RANGE MAXIMUM FOR THEIR JOB GRADE WILL NOT BE ELIGIBLE FOR A MERIT INCREASE. IN UNUSUAL CIRCUMSTANCES, THE REVIEW OF AN EMPLOYEE'S CURRENT PAY MAY ALSO RESULT IN THE GRANTING OF A MERIT INCREASE. SHOULD BUSINESS CONDITIONS WARRANT, CHANGES TO THIS POLICY, OR A SUSPENSION OF THE ENTIRE PROGRAM, MAY BE MADE BY MANAGEMENT, AS APPROVED BY THE BOARD OF DIRECTORS, AT ANY TIME. IN THAT EVENT, EMPLOYEES WILL BE NOTIFIED IN AS TIMELY A MANNER AS POSSIBLE. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY EACH MONTH AFTER PREPARATION AND HANDED OUT AT THE ANNUAL MEMBERSHIP MEETING. |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SEE ATTACHED FORM 3115 FOR VISTERRA CREDIT UNION, EIN: 95-1803229 |