2015-10-26T18:18:10-05:00 2014-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2014-01-01 941696676 PREMIERONE CREDIT UNION PREM 8555007128 140 ASBURY STREET SAN JOSE CA 95110 BRADFORD THOMAS CFO 8886726073 2015-10-07 1 VALENTINO CREUS CPA P01054153 8189549700 2014 2016-04-25 22:37:26Z ANDREA BREWER 140 ASBURY STREET SAN JOSE CA 95110 12398000 0 X WWW.PREMIERONECU.ORG X CREDIT UNION 1968 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 80 13 16631 0 0 0 9931197 9870628 1755749 2057193 163617 470179 11850563 12398000 0 0 0 0 4596939 4791869 0 0 0 5934527 5346859 10531466 10138728 1319097 2259272 333749671 342887920 302973019 309083912 30776652 33804008 X PREMIERONE 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, PREMIERONE 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 ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING A HIGH-YIELD CHECKING ACCOUNT PRODUCT AND A PREMIUM-RATE MONEY MARKET SAVINGS PRODUCT. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5498 0 1 80 1 1 1 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 1 1 1 0 1 1 1 1 0 CA X ANDREA BREWER CEO 8555007128 140 ASBURY STREET SAN JOSE CA 95110 ROBERT DEBARR CHAIRMAN 1.00 X 0 0 0 RICHARD TOLEDO VICE CHAIRMAN 1.00 X 0 0 0 THOMAS BREWER SECRETARY 1.00 X 0 0 0 SEAMUS MORAN TREASURER 1.00 X 0 0 0 MARCIA LILLIS DIRECTOR 1.00 X 0 0 0 TOM SUCHEVITS DIRECTOR 1.00 X 0 0 0 MARK VEEH DIRECTOR 1.00 X 0 0 0 DON BARTELS DIRECTOR 1.00 X 0 0 0 WILLIAM STAPLES DIRECTOR 1.00 X 0 0 0 JAY CASTELLANO SUPV CMTE CHAIRPERSON 1.00 X 0 0 0 TEJINDER SINGH SUPV CMTE MEMBER 1.00 X 0 0 0 RICHARD BUSSE SUPV CMTE MEMBER 1.00 X 0 0 0 GAY GALE SUPV CMTE MEMBER 1.00 X 0 0 0 ANDREA BREWER CEO 40.00 X 263309 0 39408 BRAD THOMAS CFO 40.00 X 57771 0 1675 CATHY MCCARTHY VP HR 40.00 X 166689 0 19197 DOROTHY GEMETTE VP BUSINESS OPERATION 40.00 X 149468 0 15987 BELINDA METZLER VP LENDING 40.00 X 138972 0 18624 PAUL KRAMER VP SALES/SRVC 40.00 X 132436 0 23631 MARGARET CZYZ AVP CONTROLLER 40.00 X 129326 0 35298 1037971 0 153820 7 0 1 0 FISERV INC 75 REMITTANCE DRIVE SUITE 6963 CHICAGO IL 60675 ENTERPRISE DATA MANAGEMENT 384229 JACK HENRY & ASSOCIATES PO BOX 807 MONETT MO 65708 FINANCIAL SERVICES 260052 ACI WORLDWIDE 3520 KRAFT ROAD STE 300 NAPLES FL 34105 PAYMENT SOLUTIONS 191580 BUSINESS DATA INC 321 NORTH OAK STREET INGLEWOOD CA 90302 ON-LINE DOCUMENT MANAGEMENT 169293 RESOURCE TECHNICAL SERVICES INC 11384 HILLCREST ROAD MECHANICSVILLE VA 23116 BUSINESS CONSULTING 129165 5 LOAN INCOME 522100 7414743 7414743 OTHER OPERATING INCOME 522100 1547383 1542079 5304 FEE INCOME 522100 908502 897175 11327 9870628 2057193 2057193 PROV FOR LOAN LOSS 522100 419125 419125 OTHER NON OPERATING INCOME 522100 51054 51054 470179 12398000 12381369 16631 0 1037971 2641470 101000 641397 370031 70008 67425 902983 180010 1259024 460221 55645 573158 676278 50808 LOAN SERVICING EXPENSE 890468 MISC. OPERATING EXPENSE 126826 OPERATING FEES 34005 10138728 1890417 2059667 56303758 48232853 407800 482386 17305674 10135353 3141609 7170321 40859623 46629429 229349650 236727460 488134 465122 1308680 1120682 333749671 342887920 935041 1077934 302037978 308005978 302973019 309083912 X 0 0 0 0 30776652 33804008 30776652 33804008 333749671 342887920 X 2259272 768084 0 X X 0 1 X 1 0 1562353 1562353 4262641 128263 4134378 4680588 3866208 814380 6800092 6140882 659210 7170321 ALL OTHER INVESTMENTS 1786000 F DEPOSITS IN COMMERCIAL BANKS 67935078 C LOANS AND LEASES 162278110 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 2911272 C LOANS TO NATURAL PERSON CREDIT UNIONS 1817000 C 236727460 TOTAL SHARES AND DEPOSITS 308005978 308005978 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 PERIOD. 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 TAX AUTHORITIES FOR TAX YEARS BEFORE 2011 AND STATE TAX AUTHORITIES FOR TAX YEARS BEFORE 2010. FOR THE YEAR ENDED JUNE 30, 2014, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. STATE TAXES, HOWEVER, ARE PAID ON INCOME EARNED BY THE CREDIT UNION IN CALIFORNIA. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. X 0 0 0 ANDREA BREWER CEO 228486 0 33971 0 852 0 9680 0 29728 0 302717 0 0 0 CATHY MCCARTHY VP HR 149329 0 16508 0 852 0 5748 0 13449 0 185886 0 0 0 DOROTHY GEMETTE VP BUSINESS OPERATION 133677 0 14939 0 852 0 4123 0 11864 0 165455 0 0 0 BELINDA METZLER VP LENDING 124142 0 13978 0 852 0 4944 0 13680 0 157596 0 0 0 PAUL KRAMER VP SALES/SRVC 118550 0 12935 0 951 0 4101 0 19530 0 156067 0 0 0 MARGARET CZYZ AVP CONTROLLER 119271 0 9408 0 647 0 4919 0 30379 0 164624 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THOMAS BREWER (BOARD SECRETARY) IS AN UNCLE OF ANDREA BREWER (CEO)'S HUSBAND FORM 990, PART VI, SECTION A, LINE 6 PREMIERONE 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. PREMIERONE CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF PREMIERONE 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 EACH BOARD MEMBER WILL RECEIVE A COMPLETED DRAFT OF THE FORM 990 FOR REVIEW AND BE GIVEN AN OPPORTUNITY TO SUGGEST CORRECTIONS OR REVISIONS PRIOR TO FILING EACH YEAR. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATION DOES NOT HAVE A SEPARATE CONFLICT OF INTEREST POLICY. HOWEVER AS PER THE CODE OF ETHICS EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AS AND WHEN THEY ARISE. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST GUIDELINES AS PER THE CODE OF ETHICS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE MANAGEMENT, ON AT LEAST AN ANNUAL BASIS, OBTAINS COMPENSATION SURVEY DATA FOR HIGHLY COMPENSATED EMPLOYEES (WHICH CONSIST OF VICE PRESIDENTS AND HIGHER) FOR PURPOSES OF COMPENSATION BENCHMARKING. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THIS DATA IN CONJUNCTION WITH EXECUTIVE MANAGEMENT TO DETERMINE APPROPRIATE COMPENSATION LEVELS BY EMPLOYEE POSITION. COMPENSATION LEVELS FOR OTHER KEY EMPLOYEES AND GENERAL STAFF IS AVAILABLE TO THE COMPENSATION COMMITTEE AT ANY TIME FOR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS MONTHLY FINANCIAL STATEMENTS FOR PUBLIC VIEWING BY MEMBERS IN ALL BRANCHES. ORGANIZATION DOES NOT POST GOVERNING DOCUMENTS OR A CONFLICT OF INTEREST POLICY FOR PUBLIC VIEWING. FORM 990, PART VII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990 SEE ATTACHED FORM 3115 FOR PREMIERONE CREDIT UNION, EIN: 94-1696676