2015-05-07T18:33:41-07:00 2014-12-31 990 2014-01-01 941417215 DOW GREAT WESTERN CREDIT UNION DOWG 9253311010 4041 Lone Tree Way Suite 100 PO Box 2059 Antioch CA 94531 Phylliss Rosas CEO 9253311010 2015-05-06 2014 2016-02-25 16:41:14Z Phylliss A Rosas 4041 Lone Tree Way Ste 100 Antioch CA 94531 1384795 0 X www.dowcu.org X 1938 CA Provides Thrift Savings & Borrowing for member owned financial institution. The credit union provides one overall activity; that being a financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. The number of members/owners at 12/31/14 was 2282 with 605 loans totaling $21,191,300 and with 4264 share deposit accounts totaling $34,966,172 9 9 8 9 5620 -5620 0 0 1215708 1115072 228491 269723 0 0 1444199 1384795 0 0 0 0 508495 490880 0 0 0 821761 1039881 1330256 1530761 113943 -145966 38962990 39184089 34981605 35079070 3981385 4105019 The credit union provide thrift savings, borrowing and financial services to members of a member owned cooperative financial institution. The credit union provides overall activity; that being financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. Number of members/owners at 12/31/14 was 2282 with 605 loans totaling $21,191,300 and with 4264 share deposit accounts totaling $34,966,172. 0 0 1530762 0 1384795 Regarding members and the member deposit side of the balance sheet, members loss from 2358 to 2282. And member deposit accounts decreased from 4376 and $34,844,446 to 4264 increased amount to $34,966,172. Dividend Interest paid on these accounts for the year was $65,203. Checking accounts increased from 1058 to 1075. Debit cards and transactions continued to grow, along with transactions on the credit union's atm. Depositing and check cashing services at the member services counter continued to grow. 968986 Loan services with 538 loans made for $3,906,812 as well as other services around loans, such as offerring mechanical breakdown insurance coverage on auto loans. And offerring insurance coverage for members if they are disabled and unable to make their payments. Various tpes of loans, including home loans were offerred, including 1st trust and 2nd trust deed and fixed and variable rate loans and home equity lines of credit. 0 0 0 1530762 0 0 0 0 0 0 0 0 0 1 0 1 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 1 971 0 1 8 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 X Dow Great Western Credit Union 9253311010 4041 Lone Tree Way Suite 100 Antioch CA 94531 John Jacobson Director 3 X 0 0 0 Curtis Tong Chairperson 4 X 0 0 0 Karen Harvey Secretary 3 X 0 0 0 Steven McAdams Director 2 X 0 0 0 Art Solis Director 3 X 0 0 0 Marshal Zimmerman Director 2 X 0 0 0 Sally Siemak Director 2 X 0 0 0 Jeff Noyer Vice Chairperson 4 X 0 0 0 David Parks Director 2 X 0 0 0 Phylliss Rosas CEO 50 X X 95192 0 22669 Ken Graves (Former as of 06/14/14) Chief Financial Officer 50 X 47530 0 0 142722 0 22669 0 1 0 0 FISERV 255 FISERV Drive Brookfield WI 53045 Information Systems 228696 Bluerock Partners LLC 1200 Concord Avenue Suite 200 Concord CA 94520 Leased Office Space 274588 2 0 0 0 0 0 0 0 0 Member Loan Interest 522100 968986 968986 0 0 146086 140466 5620 0 1115072 269723 269723 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1384795 1379175 5620 0 0 0 0 0 142722 0 238663 23431 51981 34083 34676 15626 63106 225555 327386 2079 0 7059 65203 0 27848 21143 Association Membership Dues 14714 Provision For Loan Losses -130030 Deferred Comp Plan Terminate 365516 1530761 0 0 0 240030 383006 34291 21852 0 0 21486448 20901324 37589 47879 1307310 746040 593799 561270 15798953 16792699 771880 476059 38962990 39184089 107645 95480 34873960 34983590 34981605 35079070 X 0 0 0 0 3981385 4105019 3981385 4105019 38962990 39184089 X -145966 0 0 0 0 269600 X 0 1 X 1 0 0 0 0 0 0 0 0 0 851972 365421 486551 0 455338 380619 74719 0 0 0 0 561270 Credit Union And Bank Certificate Deposits 13626000 C Corporate Credit Union Deposits 776715 C Investment in Corporate Credit Unions 68479 C Investment to Pre-Fund Employee Benefits 2294271 C Investment in Credit Union Service Organization 27234 C 16792699 Federal Withholding Payable to IRS 2040 Other withholding 384 General Ledger Clearing Accounts 14994 Member Share Deposits 34966172 34983590 X Schedule D, 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 course of preparing the credit union's tax returns to determine wheather the tax positions are "more-likely-than-not" of being sustained "When challenged" or "when examined" by the applicable tax authority.Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense and liability in the current year. For year ended June 30,2014, management has determined that there are no material uncertain tax positions, and accordingly, has not recorded a liability for the payment of interest or penalties. State taxes, if applicable, are pain 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 1 0 0 Ken Graves (Former as of 06/14/14) Chief Financial Officer 33624 0 0 0 13906 0 0 0 0 0 47530 0 0 Schedule J, Part I, Line 4 Ken Graves received a Severance Payment of $13,906.00 Form 990, Part VI, Section A, Line 6 The credit union is a California Not-For-Profit Corporation that has member/owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section A, Line 7a The credit union is a California Not-For-Profit Corporation that has member/Owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section B, Line 11b The form is prepared by the Accounting Manager and reviewed by the CEO. The credit union's regulator and auditor periodically reviewed it. Form 990, Part VI, Section B, Line 12c The credit union has a Conflict of Interest Policty and is audited by an outside audit firm and examined by a state regulator that review Board of Director's accounts for any improper activity. The Board of Directors are required to disclose any conflicts of interest at the monthly Board of Directors meetings. Also, the credit union has an appointed Supervisory Committee that performs various independent internal audit procedures. Form 990, Part VI, Section B, Line 15 The Board of Directors has approved an Employee Handbook covering compensation policy and has approved a salary scale by employee position, including management. The Board of Directors has appointed a President/CEO salary review committee to review and make compensation recommendations to the Board of Directors. Along with other employees salary review is performed by the CEO. Form 990, Part VI, Section C, Line 19 The credit union makes its Form 990 and any other documents required by regulation available upon request. Its most recent Financial Statements are posted monthly in the credit union. Other governing documents are made available on a case to case basis. Form 990, Part XI, Line 9 This account is Other Accumulated Comprehensive Income which relates to the long term financial obligation for Defined Benefits Retirement Plan of which the beginning balance was $269,599 and the ending balance was zero, since it was already terminated. It's part of the current income (loss).