2025-11-07T09:05:55-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 2875 MICHELLE DRIVE 300 IRVINE CA 92606 990 2024-01-01 951585409 SOUTHLAND CREDIT UNION SOUT 5628626831 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 THOMAS LENT PRESIDENT/CEO 5628626831 2025-11-06 1 1 LISA N RYSSEL CPA P00643670 7149781300 2025-11-06 2024 2025-03-06 01:10:19Z THOMAS LENT 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 62813347 0 X WWW.SOUTHLANDCU.ORG X 1936 CA WE ARE DEDICATED TO PROVIDING OUR MEMBERS WITH EXCEPTIONAL, COMPREHENSIVE, AND INNOVATIVE FINANCIAL SOLUTIONS, DELIVERED WITH UNIQUELY PERSONAL SOUTHLAND SERVICE. 9 9 205 12 82929 0 0 0 43601931 53488227 7987627 9325120 0 0 51589558 62813347 0 0 10309254 17822697 17971081 19468782 0 0 0 19585485 29776499 47865820 67067978 3723738 -4254631 1151348506 1266650484 1081033318 1191025547 70315188 75624937 WE ARE DEDICATED TO PROVIDING OUR MEMBERS WITH EXCEPTIONAL, COMPREHENSIVE, AND INNOVATIVE FINANCIAL SOLUTIONS, DELIVERED WITH UNIQUELY PERSONAL SOUTHLAND SERVICE. 0 0 PROVIDED LOW COST LOANS AND HIGH-YIELD DEPOSIT OPTIONS FOR OUR MEMBERSHIP. EDUCATED OUR MEMBERSHIP TO ENSURE FINANCIAL LITERACY AND SECURITY. DURING 2024, 19,061 LOANS WERE GRANTED AND SERVICES WERE PROVIDED TO 70,059 MEMBERS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 15508 0 1 205 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 CA X CHRISTOPHER BURNS 5628626831 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 MEGAN HISZPANSKI SECRETARY/TREASURER 1.00 X X 0 0 0 ANNIE PEREZ DIRECTOR 1.00 X 0 0 0 JUSTIN LAIRD DIRECTOR 1.00 X 0 0 0 BECKY COOL DIRECTOR 1.00 X 0 0 0 ANGELA AVERY DIRECTOR 1.00 X 0 0 0 TOM WILLINGHAM CHAIRMAN 1.00 X X 0 0 0 WALTER FINNIGAN VICE CHAIRMAN 1.00 X X 0 0 0 BRAD SILCOX DIRECTOR 1.00 X 0 0 0 JOSE MANZANO DIRECTOR 1.00 X 0 0 0 CHRISTOPHER BURNS EVP/CFO 40.00 X 321116 0 33998 RENE LEJAY EVP/COO 40.00 X 335389 0 38546 THOMAS LENT PRESIDENT/CEO 40.00 X 564431 0 68460 BERTRAND VILLAVERT VP CONTROLLER 40.00 X 233833 0 35160 MATTHEW HERRICK SVP SALES & MARKETING THRU 5/24 40.00 X 221024 0 22462 CURTIS BANNOCK VP/CIO 40.00 X 246201 0 34983 PATTY JIMENEZ SVP LENDING 40.00 X 238623 0 28005 PAUL WALKER MORTGAGE LOAN COUNSELO 40.00 X 346642 0 39191 2507259 0 300805 44 0 1 0 ALKAMI 5601 GRANITE PARKWAY SUITE 120 PLANO TX 75024 DIGITAL BANKING SOLUTIONS 782151 DIEBOLD INC 5995 MAYFAIR ROAD NORTH CANTON OH 44720 ATM SERVICING 638179 JACK HENRY & ASSOCIATES 663 W HIGHWAY 60 PO BOX 807 MONETT MO 657088215 CORE INFORMATION PROCESSING SOLUTIONS 511231 PROMENADE PROPERTIES III LLC 525 SANTA MONICA BLVD SANTA MONICA CA 90401 PROPERTY MANAGEMENT 383657 CONVERGINT TECHNOLOGIES LLC 35257 EAGLE WAY CHICAGO IL 60678 SECURITY SYSTEMS 362588 30 INTEREST INCOME ON LOANS 522100 46386205 46386205 FEES AND CHARGES 522100 4619445 4570388 49057 INTERCHANGE INCOME 522100 1462523 1462523 OTHER OPERATING INCOME 522100 1020054 986182 33872 53488227 9325120 9325120 62813347 53405298 82929 9325120 17822697 1361940 14165415 1065344 1742150 1133933 1781339 318041 10000 1314613 1739714 1947971 2290621 1958308 663556 3083043 1624664 261013 PROVISION FOR LOAN LOSS 9492040 LOAN SERVICING 1715870 ATM EXPENSES 1074652 MISCELLANEOUS EXPENSES 295775 205279 67067978 6952595 8440135 89483035 103793838 749241 548288 12500018 13063604 785115002 880114877 2074125 2216698 39717600 23004565 16556486 16713035 200943796 192854911 5848279 7181658 822498 4562234 30303431 37161206 1151348506 1266650484 10099321 10850856 90900000 90900000 980033997 1089274691 1081033318 1191025547 X 0 0 0 0 70315188 75624937 70315188 75624937 1151348506 1266650484 X -4254631 1816881 7747499 X X 0 1 X 1 0 10000 0 0 10000 10000 1 CALIFORNIA CREDIT UNION LEAGUE 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 917611249 940357265 10000 PART I-A, LINE 1: CONTRIBUTION TO POLITICAL ORGANIZATION CALIFORNIA CREDIT UNION LEAGUE 2855 E. GUASTI ROAD ONTARIO, CA 91761-1249 4795267 4795267 14502885 6808273 7694612 2123540 2010142 113398 16749446 14186150 2563296 1546462 1546462 16713035 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1088023944 RIGHT-OF-USE LEASE LIABILITY 1250747 1089274691 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL AND STATE INCOME TAXES, UNDER INTERNAL REVENUE CODE 501(C)(14). THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A MINIMAL NET OPERATING LOSS CARRYFORWARD. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL AFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2024 AND 2023. THE CREDIT UNION'S 2021 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X X 1 1 X X X X X 0 1 0 THOMAS LENT PRESIDENT/CEO 502792 0 52639 0 9000 0 27600 0 40860 0 632891 0 0 0 PAUL WALKER MORTGAGE LOAN COUNSELO 0 0 346642 0 0 0 27600 0 11591 0 385833 0 0 0 RENE LEJAY EVP/COO 305855 0 29534 0 0 0 27038 0 11508 0 373935 0 0 0 CHRISTOPHER BURNS EVP/CFO 293977 0 27139 0 0 0 25786 0 8212 0 355114 0 0 0 CURTIS BANNOCK VP/CIO 225782 0 20419 0 0 0 17815 0 17168 0 281184 0 0 0 BERTRAND VILLAVERT VP CONTROLLER 212884 0 20949 0 0 0 19559 0 15601 0 268993 0 0 0 PATTY JIMENEZ SVP LENDING 218312 0 20311 0 0 0 19298 0 8707 0 266628 0 0 0 MATTHEW HERRICK SVP SALES & MARKETING THRU 5/24 194036 0 23946 0 3042 0 17764 0 4698 0 243486 0 0 0 PART I, LINE 1A TRAVEL EXPENSES FOR BOARD AND SUPERVISORY MEMBERS ARE PAID BY THE CREDIT UNION AND INCLUDED IN TAXABLE COMPENSATION. KEY EMPLOYEES ARE ELIGIBLE FOR HEALTH CLUB DUES PROVIDED BY THE CREDIT UNION. PART I, LINE 4B THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN, SECTION 457(F), FOR CERTAIN MEMBERS OF MANAGEMENT. THERE WERE NO DISTRIBUTIONS FROM THE PLAN OR CONTRIBUTIONS TO THE PLAN DURING CALENDAR 2024. ADDITIONALLY, THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THOMAS LENT, CHRISTOPHER BURNS, RENE LEJAY, AND MATTHEW HERRICK, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR". AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX-FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH, THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. THOMAS LENT PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 6450000 7237519 0 1 1 RENE LEJAY EVP/COO SPLIT DOLLAR LIFE INSURANCE X 1500000 1716708 0 1 1 CHRISTOPHER BURNS EVP/CFO SPLIT DOLLAR LIFE INSURANCE X 2100000 2169433 0 1 1 MATTHEW HERRICK SVP SALE & MARKETING SPLIT DOLLAR LIFE INSURANCE X 1900000 1939944 0 1 1 13063604 SCHEDULE L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR". ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS. PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS GENERALLY CONSISTS OF THOSE WHO LIVE, WORK, WORSHIP, OR GO TO SCHOOL IN ORANGE COUNTY AND LOS ANGELES COUNTY, CALIFORNIA, AND OTHER SELECT EMPLOYEE GROUPS WHO HAVE PETITIONED FOR MEMBERSHIP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH BOARD MEMBER SERVES A 3 YEAR TERM AND IS NOMINATED AND ELECTED BY THE MEMBERSHIP. 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 A, LINE 8B THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE SUPERVISORY COMMITTEE FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT IS RESPONSIBLE FOR ENFORCING AND COMPLYING WITH THE CONFLICT OF INTEREST POLICY. ALL EMPLOYEES ARE REQUIRED TO AFFIRM THEIR COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH REVIEW AND SIGN OFF ON THE EMPLOYEE HANDBOOK WHICH IS RETAINED IN PERSONNEL FILES. PERIODIC REVIEWS ARE COMPLETED BY INTERNAL AUDITORS WHO REPORT THEIR FINDINGS TO THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD FORMS AN EXECUTIVE COMPENSATION COMMITTEE WHICH SOLICITS A REVIEW FROM INDEPENDENT SOURCES AS WELL AS COMPARABILITY DATA. THIS COMMITTEE PROVIDES A RECOMMENDATION TO THE FULL BOARD TO APPROVE THE CEO'S SALARY. FINAL APPROVAL IS GIVEN BY THE BOARD AND APPROVED AT THE BOARD MEETING AND DOCUMENTED IN THE BOARD MINUTES. OTHER MANAGEMENT SALARIES ARE DETERMINED USING COMPARATIVES AND 3RD PARTY RECOMMENDATIONS. FINAL APPROVAL IS GIVEN BY THE CEO. THE BOARD IS NOTIFIED BY THE CEO AT THE BOARD MEETING. THE FINAL COMPENSATION DECISIONS ARE DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF LIFE INSURANCE POLICIES 414,209. EQUITY ACQUIRED BY ACQUISITION 7,333,290. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR. SCFCU SERVICES INC 10701 LOS ALAMITOS BLVD LOS ALAMITOS CA 90720 954489756 INSURANCE CA SOUTHLAND CREDIT UNION C 2234 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0