2015-11-09T18:20:48-06:00 2014-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2014-01-01 951790568 VENTURA COUNTY CREDIT UNION VENT 8054774024 PO BOX 6920 VENTURA CA 930066920 LINDA SIM CFO 8054774024 2015-11-09 1 VALENTINO CREUS CPA P01054153 8189549700 2014 2016-03-07 17:11:31Z JOSEPH SCHROEDER PO BOX 6920 VENTURA CA 930066920 57497732 0 X WWW.VCCUONLINE.NET X CREDIT UNION 1950 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 205 15 249436 0 0 0 24445950 28721364 4034546 3563466 311060 293409 28791556 32578239 96559 83911 0 0 10124607 10382882 0 0 0 13457360 16719290 23678526 27186083 5113030 5392156 654328438 693515945 596326295 629885809 58002143 63630136 X VENTURA COUNTY 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, VENTURA COUNTY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 THE CREDIT UNION EXPANDED ON ITS TECHNOLOGY OFFERINGS WITH A NEW ONLINE BANKING SYSTEM INCLUDING REMOTE DEPOSIT CAPTURE. VENTURA COUTY CREDIT UNION RECEIVED THE CREDIT UNION ADVOCATE OF THE YEAR AWARD FROM THE CALIFORNIA CREDIT UNION LEAGUE. VOTED BY "VC REPORTER" AS VENTURA COUNTY'S BEST/FAVORITE FINANCIAL INSTITUTION FOR THE FIFTH YEAR IN A ROW. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 10030 0 1 205 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X LINDA SIM CFO 8054774024 6026 TELEPHONE ROAD VENTURA CA 93006 ROXANNE OSTREM CHAIRPERSON 5.00 X 0 0 0 SUE TATANGELO VICE CHAIRPERSON 4.00 X 0 0 0 MONIQUE NOWLIN SECRETARY 3.80 X 0 0 0 PHILIP BOHAN ASSISTANT SECRETARY 3.80 X 0 0 0 PAT MADDEN TREASURER 3.80 X 0 0 0 BRENDA MORRIS BOARD MEMBER 3.80 X 0 0 0 SUSAN CRAIG BOARD MEMBER 3.80 X 0 0 0 J MATTHEW CARROLL BOARD MEMBER 3.80 X 0 0 0 AL DUFF BOARD MEMBER EMERITUS 1.80 X 0 0 0 WILLIAM FRANK ALCO COMMITTEE 7.50 X 0 0 0 JEFF LANDIS SUPV CMTE CHAIR 2.00 X 0 0 0 DANIELLE BRINKMAN-VERA SUPV CMTE VICE CHAIR 1.30 X 0 0 0 WENDY VICKERS SUPV CMTE SECRETARY 1.30 X 0 0 0 MARGO BYRNE SUPV CMTE MEMBER 1.30 X 0 0 0 KENNETH KAGAN SUPV CMTE MEMBER 1.30 X 0 0 0 JOSEPH SCHROEDER CEO & PRESIDENT 45.00 X 479568 0 374609 LINDA SIM CFO 45.00 X 239771 0 27521 GAVIN BRADLEY SVP RETAIL SVCS 45.00 X 232127 0 26580 LINDA ROSSI SVP STRATEGIC SVCS 45.00 X 224557 0 14613 LINDA MUSE-TABATA SR HOME LOAN SPECIALIST 45.00 X 183839 0 10034 JACKIE BENOUN VP LENDING 45.00 X 177902 0 21365 MARK ROSS VP IT 45.00 X 157674 0 23325 CLINTON LOVINGER AVP MEMBER SERVICES 45.00 X 119446 0 14938 ROSALIND GILBERT AVP HUMAN RESOURCES 45.00 X 111112 0 9259 GREGORY UTTAL AVP LENDING 45.00 X 108342 0 19859 CHRISTINA ESTES AVP MARKETING 45.00 X 106118 0 17764 ROBERT MARSHALL AVP TECHNOLOGY 40.00 X 94774 0 34629 2235230 0 594496 11 0 1 0 THE MEMBERS GROUP PO BOX 10409 DES MOINES IA 50306 PLASTIC CARD SERVICES 1131837 ACI WORLDWIDE CORP 3520 KRAFT ROAD SUITE 300 NAPLES FL 34105 SOFTWARE SERVICES 710226 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 657088215 INFORMATION PROCESSING SOLUTIONS 607765 BDI-BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STMT & POSTAGE SERVICES 517977 DATALINK NETWORKS INC 28110 AVE STANFORD UNIT A SANTA CLARITA CA 913551290 INFORMATION TECHNOLOGY SERVICES 359250 20 INTEREST ON LOANS 522100 18198356 18198356 FEE INCOME 522100 5468763 5404699 64064 OTHER OPERATING INCOME 522100 5054245 4868873 185372 28721364 3513848 3513848 24969111 24919493 49618 49618 49618 OTHER NON-OPERATING INCOME 522210 293409 293409 293409 32578239 32328803 249436 0 83911 2235230 5749782 625257 1060911 711702 134272 184184 401435 1022770 4956071 1287079 1133465 225278 1598785 1752600 PROV FOR LOAN LOSSES 2106144 LOAN SERVICING EXPENSE 1284313 MISC OPERATING EXPENSE 568729 OPERATING FEES 64165 27186083 4847793 4425460 88622686 20730118 552441 351288 939957 1179324 42676833 12877487 22089977 29799346 120982457 90452751 401390075 531276302 439368 0 14463684 15301356 654328438 693515945 3491934 5367664 592834361 624518145 596326295 629885809 X 0 0 0 0 58002143 63630136 58002143 63630136 654328438 693515945 5392156 235837 0 X X 0 1 X 1 0 7350 7350 7350 1 CCUL - PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 940357265 7350 9698188 9698188 22273645 5814500 16459145 1717120 1259745 457375 8987880 5803242 3184638 29799346 ALL OTHER INVESTMENTS 3186200 F LOANS AND LEASES 453633300 F NCUA SHARE INSURANCE CAP DEPOSIT 5910848 C HELD TO MATURITY SECURITIES 66948883 F LOANS HELD FOR SALE 1597071 F 531276302 DIVIDENDS PAYABLE 95166 TOTAL SHARES AND DEPOSITS 617422979 DRAWS AGAINST LINES OF CREDIT 7000000 624518145 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 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 JUNE 30, 2014, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION IS NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AUTHORITIES FOR TAX YEARS BEFORE 2011 AND STATE TAX AUTHORITIES BEFORE TAX YEAR 2010. 1 CALIFORNIA LUTHERAN UNIVERSITY 60 WEST OLSEN ROAD THOUSAND OAKS CA 91360 952962604 501(C)(3) 5000 FMV PROMOTES EDUCATION THROUGH SPECIAL EVENTS AND EDUCATIONAL PROGRAMS CAMARILLO HEALTH CARE DISTRICT ADULT DAY CENTER 3639 E LAS POSAS ROAD SUITE 117 CAMARILLO CA 93010 952834854 GOVT 5000 FMV PROMOTES THE QUALITY OF LIFE FOR THE COMMUNITY FOOD SHARE OF VENTURA COUNTY 4156 N SOUTHBANK ROAD OXNARD CA 93036 770018162 501(C)(3) 10000 FMV PROMOTES THE QUALITY OF LIFE FOR THE COMMUNITY WOCCU SERVICES GROUP INC 5710 MINERAL POINT ROAD MADISON WI 53705 391984681 501(C)(3) 5000 FMV ASSIST CREDIT UNION IN DEVELOPING AND IMPLEMENTING NEW TECHNOLOGIES CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 5500 FMV PROMOTES CHILDREN'S HEALTH 4 1 X X X 0 1 0 JOSEPH SCHROEDER CEO & PRESIDENT 361852 0 94836 0 22880 0 355309 0 19300 0 854177 0 0 0 LINDA SIM CFO 217294 0 17981 0 4496 0 7071 0 20450 0 267292 0 0 0 GAVIN BRADLEY SVP RETAIL SVCS 209356 0 18141 0 4630 0 6705 0 19875 0 258707 0 0 0 LINDA ROSSI SVP STRATEGIC SVCS 202472 0 17331 0 4754 0 6671 0 7942 0 239170 0 0 0 LINDA MUSE-TABATA SR HOME LOAN SPECIALIST 182966 0 873 0 0 0 5517 0 4517 0 193873 0 0 0 JACKIE BENOUN VP LENDING 154846 0 18482 0 4574 0 5169 0 16196 0 199267 0 0 0 MARK ROSS VP IT 154729 0 0 0 2945 0 4025 0 19300 0 180999 0 0 0 PART I, LINE 4B THE CREDIT UNION CONTRIBUTES TO A 457(F) PLAN AS ADDITIONAL RETIREMENT BENEFITS FOR THE CEO. THE CREDIT UNION OFFERS A SERP AS PART OF THE CEO'S 10-YEAR EMPLOYMENT CONTRACT. THE PURPOSE OF THE PLAN IS TO PROVIDE ADDITIONAL INCENTIVE FOR THE CEO TO REMAIN WITH THE CREDIT UNION. JOSEPH SCHROEDER OFFICER HOME LOAN X 595000 351288 0 1 1 351288 FORM 990, PART VI, SECTION A, LINE 6 VENTURA COUNTY 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. VENTURA COUNTY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF VENTURA COUNTY 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 ADVANCED MONTHLY BOARD PACKAGES, INCLUDING FINANCIAL STATEMENTS AND OTHER RELEVANT INFORMATION ARE DISTRIBUTED TO THE BOARD MONTHLY, IN ADVANCE OF THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS ANY EXCEPTION ON A PERIODIC BASIS PURSUANT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND PROVIDES ANY RESOLUTION WHERE NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCE DEPT. GATHERS RELEVANT SALARY INFORMATION COMPARABLE WITHIN INDUSTRY AND MARKET STANDARDS. THEREAFTER, APPROPRIATE RECOMMENDATIONS ARE PROVIDED TO THE CEO FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE ITS FINANCIAL STATEMENTS IN EVERY BRANCH LOCATION ON A MONTHLY BASIS AND PROVIDES ANY GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY UPON REQUEST. FORM 990, PART XI, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SEE ATTACHED FORM 3115 FOR VENTURA COUNTY CREDIT UNION, EIN: 95-1790568