2013-10-30T11:01:18-05:00 2012-12-31 KPMG LLP 500 Capitol Mall Suite 2100 Sacramento CA 95814 990 2012-01-01 940362025 THE GOLDEN 1 CREDIT UNION % ALLYSON HILL VP/CONTROLLER GOLD 9167322900 8945 CAL CENTER DRIVE Suite SACRAMENTO CA 95826 Allyson Hill 9167322817 2013-10-29 true MARC A HOLLIS 9164484700 2012 2016-03-07 17:11:31Z DONNA A BLAND 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 508706911 false 1526 X WWW.GOLDEN1.COM X 1933 CA THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE. 11 11 1534 17 5704713 871611 0 0 202820363 185909979 62744660 63830352 78917801 86668912 344482824 336409243 0 0 0 0 76340757 81045198 0 0 0 202781788 169560066 279122545 250605264 65360279 85803979 7508945792 7963005682 6665554917 7028430135 843390875 934575547 THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE. THE PURPOSE OF THE CORPORATION IS TO ENGAGE IN CREDIT UNION BUSINESS AND ANY OTHER LAWFUL ACTIVITIES WHICH ARE NOT PROHIBITED TO A CREDIT UNION BY APPLICABLE LAWS OR REGULATIONS. false false GOLDEN 1 OFFERS AN ARRAY OF DEPOSIT PRODUCTS TO OUR MEMBERSHIP INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRAS AND CERTIFICATES. WHILE EARNING COMPETITIVE DIVIDEND RATES, OUR MEMBERSHIP CAN ACCESS THEIR DEPOSITS THROUGH OUR BRANCH NETWORK, VIA AN ATM, ONLINE OR BY CALLING OUR MEMBER SERVICE CONTACT CENTER. GOLDEN 1 OFFERS AN ARRAY OF COMPETITIVE LOAN OPTIONS TO OUR MEMBERSHIP, INCLUDING NEW AND USED AUTO, FIRST MORTGAGE, HOME EQUITY, CREDIT CARD AND PERSONAL LOANS. GOLDEN 1 STRIVES TO MAINTAIN COMPETITIVE PRICING AND A VARIETY OF LOAN PRODUCTS THAT MEET OUR MEMBER'S BORROWING NEEDS. MEMBERS CAN APPLY FOR LOANS IN A BRANCH, ONLINE, OR AT AN AUTO DEALERSHIP. GOLDEN 1 OFFERS OUR MEMBERS AN ARRAY OF INSURANCE AND INVESTMENT-RELATED PRODUCTS SUCH AS CREDIT LIFE/CREDIT DISABILITY, MECHANICAL BREAKDOWN INSURANCE, GUARANTEED ASSET PROTECTION AND FINANCIAL CONSULTING. false false true false false false false false false true true false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 160304 0 true 1534 true true true false false false false false X 11 11 false false false false true true true true true false true true true true true true true true true true false CA X X ALLYSON HILL VPCONTROLLER 9167322900 8945 CAL CENTER DRIVE SACRAMENTO CA 95826 CASSANDRA JENNINGS 5.0 X 0 0 0 JOHN HARRIGAN 5.0 X 0 0 0 P CRAIG CORNETT 5.0 X 0 0 0 CRAIG BROWN 5.0 X 0 0 0 PARIS COLEMAN 5.0 X 0 0 0 JAMES GOMEZ 5.0 X 0 0 0 AEISHA MASTAGNI 5.0 X 0 0 0 THOMAS MCCAFFERY 5.0 X 731 0 0 PEDRO REYES 5.0 X 0 0 0 TING LAN SUN 5.0 X 0 0 0 KERI L THOMAS 5.0 X 0 0 0 MANUEL MATEO 5.0 X 0 0 0 DONNA BLAND 60.0 X 567060 0 122218 JOHN DANNELLEY 60.0 X 178538 0 31118 TAMMY DAVIS 60.0 X 227930 0 27473 TAMARA FERRIN 60.0 X 240935 0 14361 TOMMY GENESSY 60.0 X 300140 0 38271 CHARLES GOSS 60.0 X 314341 0 21964 SCOTT INGRAM 60.0 X 223833 0 26682 CHAD CARRINGTON 50.0 X 188173 0 17490 ROBERT GARRISON 50.0 X 178557 0 20307 KARA GIANO 50.0 X 178995 0 10892 KATHLEEN HIMES 50.0 X 151850 0 25531 MICHAEL POPP 50.0 X 189764 0 28813 DIANE SENNA 50.0 X 153540 0 24234 HARPAL SIDHU 50.0 X 187157 0 19871 ELIZABETH FREEMAN 50.0 X 126698 0 16773 KEVEN GRAY 50.0 X 148301 0 13705 JEFFREY PARTEN 50.0 X 126325 0 7676 JOHN-DAVID PHELPS 50.0 X 147546 0 22787 CATHY WOLFE 50.0 X 131585 0 13109 JAMES ANDERSON 50.0 X 167066 0 19557 LEONARD GZESH 60.0 X 130505 0 5074 4259570 0 527906 21 true true false PRINTING BY DESIGN PO BOX 103 RESCUE CA 95672 PRINTING SERVICES 615244 BUCHALTER NEMER 1100 WISHIRE BLVD SUITE 1500 LOS ANGELES CA 900172457 LEGAL SERVICES 450536 DOWNEY BRAND 621 CAPITOL MALL 18TH FLOOR SACRAMENTO CA 95814 LEGAL SERVICES 269291 KPMG LLP DEPT 922 PO BOX 120001 DALLAS TX 753120922 ACCOUNTING SERVICES 238836 MOORE BREWER BURBOTT 1015 SKILLMAN LANE PETALUMA CA 94952 CONSTRUCTION SERVICE 190950 5 0 INTEREST INCOME - LOANS 522200 185909979 185909979 185909979 59147495 59147495 0 0 0 0 0 176963277 17248 172267356 30313 4695921 -13065 4682857 4682857 0 0 0 CHECKING ACCOUNTS FEE INCOME 522100 33472930 33472930 STAR NETWORK FEE INCOME 522100 14587345 14587345 DEBIT CARD INCOME 522100 18323248 18323248 20285389 14580676 5704713 86668912 336409243 330704530 5704713 0 0 0 0 4787476 0 57712267 5642877 7918320 4984258 0 662833 276660 0 0 0 1583818 6649570 11668214 7176554 0 14285191 312047 0 327633 208162 0 7968669 812302 DISBURSEMENTS TO MEMBERS 44762624 PROVISION FOR LOAN LOSSES 27068196 PRODUCT SERVICES 14540212 ATM EXPENSE 12988323 18269058 250605264 95668921 94820743 0 0 0 0 232824913 569350163 0 0 0 0 3524087410 3485968712 0 0 0 0 149580509 93862396 54622896 55718113 0 0 3161690371 3327469399 0 0 0 0 440051281 429678552 7508945792 7963005682 4447694 2974272 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6661107223 7025455863 6665554917 7028430135 X 0 0 0 0 843390875 934575547 843390875 934575547 7508945792 7963005682 X 85803979 5380693 X false true X true false 9547 9547 9547 true CA CREDIT UNION LEAGUE PAC 9500 CLEVELAND AVE SUITE 200 RANCHO CUCAMONGA CA 91730 942329967 9547 FORM 990 SCHEDULE C, PART 1-A, LINE 1 THE GOLDEN 1 CREDIT UNION CONTRIBUTED TO THE CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE (PAC) DURING 2012. 7634026 7634026 43487849 12394622 31093227 98458634 81467774 16990860 55718113 US GOVERNMENT AGENCY OBL.-AFS 2699427275 F ANTICIPATION NOTES - HTM 50818885 C US GOVERNMENT AGENCY OBL.-HTM 577223239 C 3327469399 PAYROLL DEDUCTION RECEIVABLE 304879360 OTHER ASSETS 124799192 429678552 0 REGULAR SHARES 1126576873 SHARE DRAFTS AND MM ACCOUNTS 4089582853 TERM SHARE CERTIFICATES 1723962625 OTHER LIABILITIES 85333512 7025455863 X 337464283 1055040 0 0 0 1055040 336409243 336409243 250605264 0 0 0 0 0 250605264 250605264 FORM 990 In accordance with FASB ASC Subtopic 740-10 - Income Taxes - Overall, the Credit Union recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The amount of unrecognized tax benefits at December 31, 2012 and 2011 was $1,776,925 and $1,413,516, respectively, including interest and penalties, and is reported in other liabilities. As of December 31, 2012 and 2011, the Credit Union had accrued $212,452 and $155,600, respectively, for the interest and penalties related to unrecognized tax benefits, which is classified as other liabilities in the balance sheet. For years before 2005, the Credit Union is no longer subject to state income tax examinations. For years before 2006, the Credit Union is no longer subject to U.S. Federal income tax examinations. X true false X X X true true false DONNA BLAND 437026 0 92000 0 38034 0 102424 0 19794 0 689278 0 JOHN DANNELLEY 132256 0 4828 0 41454 0 11119 0 19999 0 209656 0 TAMMY DAVIS 153521 0 33138 0 41271 0 13882 0 13591 0 255403 0 TAMARA FERRIN 204300 0 29062 0 7573 0 14361 0 0 0 255296 0 TOMMY GENESSY 209122 0 41826 0 49192 0 14700 0 23571 0 338411 0 CHARLES GOSS 273736 0 24501 0 16104 0 14700 0 7264 0 336305 0 SCOTT INGRAM 178109 0 27841 0 17883 0 13197 0 13485 0 250515 0 CHAD CARRINGTON 143651 0 27195 0 17327 0 11385 0 6105 0 205663 0 ROBERT GARRISON 157727 0 14001 0 6829 0 10777 0 9530 0 198864 0 KARA GIANO 119267 0 25429 0 34299 0 10723 0 169 0 189887 0 KATHLEEN HIMES 125645 0 21258 0 4947 0 9376 0 16155 0 177381 0 MICHAEL POPP 145516 0 26321 0 17927 0 11019 0 17794 0 218577 0 DIANE SENNA 119551 0 19530 0 14459 0 9262 0 14972 0 177774 0 HARPAL SIDHU 164763 0 9487 0 12907 0 11385 0 8486 0 207028 0 KEVEN GRAY 110853 0 21876 0 15572 0 9120 0 4585 0 162006 0 JOHN-DAVID PHELPS 108173 0 22147 0 17226 0 9154 0 13633 0 170333 0 JAMES ANDERSON 132655 0 21256 0 13155 0 2898 0 16659 0 186623 0 LEONARD GZESH 81654 0 0 0 48851 0 3073 0 2001 0 135579 0 FORM 990 SCHEDULE J, PART I, LINE 1A THE CREDIT UNION WILL REIMBURSE A DIRECTOR FOR REASONABLE ACTUAL EXPENSES INCURRED IN CONNECTION WITH ATTENDING APPROVED CONFERENCES, SEMINARS, AND OTHER BUSINESS FUNCTIONS. REIMBURSEMENT MAY INCLUDE EXPENSES FOR ONE IMMEDIATE FAMILY MEMBER TO FACILITATE TRAVEL TO AND FROM SUCH EVENT PER GOLDEN 1'S BOARD TRAVEL POLICY. FORM 990 SCHEDULE J, PART I, LINE 4A SEVERANCE IN THE AMOUNT OF $48,951 WAS PAID TO THE FORMER SVP FINANCIAL SERVICES, LEONARD GZESH, DURING 2012. SEVERANCE IN THE AMOUNT OF $60,850 WAS PAID TO THE FORMER VP OF REAL ESTATE, JAMES ANDERSON, DURING 2012. FORM 990 SCHEDULE J, PART I, LINE 4B DONNA BLAND, PRESIDENT AND CEO, PARTICIPATES IN A 457(F) PLAN AS APPROVED BY THE BOARD OF DIRECTORS. EMPLOYER CONTRIBUTION TO THE PLAN DURING 2012 WAS $87,724 (non-vested). FORM 990 PART VI, LINE 7A The Golden 1 Credit Union members have the right to vote for the election of Directors. The Golden 1 has one class of members that shall be restricted to the persons and organizations having specific affiliations or identifying characteristics established by the Board of Directors in our Field of Membership. The Golden 1's Field of Membership includes persons who live and/or regularly work in one of our regulatory-permissible community charter counties and employees and immediate family members of our regulatory-permissible organizations. FORM 990 PART VI, LINE 7B THE GOLDEN 1 CREDIT UNION MEMBERS, BY A TWO-THIRDS (2/3) VOTE, SHALL HAVE THE POWER TO REVIEW THE ACTS AND REVERSE THE DECISIONS OF THE BOARD OF DIRECTORS OF THIS CREDIT UNION. FORM 990 PART VI, LINE 11A/11B The 2012 Form 990 was reviewed by Golden 1's Board of Directors in advance of filing. A committee of the Golden 1 Board of Directors was designated to review the Form 990, in advance of the October 24, 2013 Golden 1 Board Meeting. Copies of the 2012 Form 990 were provided to the full Golden 1 Board, and at the recommendation of the committee of Board members, the Golden 1 Board of Directors approved (as filed) the 2012 Form 990 on October 24, 2013. FORM 990 PART VI, LINE 12C In accordance with Board Policy, The Golden 1 requires all elected officials, committee members, officers, managers and other key employees designated by the Chief Executive Office to receive, complete, and sign an annual Statement of Disclosure Form. The Statement of Disclosure asks a series of questions pertaining to potential conflicts of interest. The Golden 1 Administration Department coordinates the distribution, collection and exception review of the completed statements. Golden 1's Internal Audit Department performs an annual audit of the Statement of Disclosures to ensure compliance with Board Policy, timeliness of the process and appropriate review of completed statements. On an annual basis, the Board also reviews and approves the related Board Policy and Statement of Disclosure Form. FORM 990 PART VI, LINE 15A/15B Officers of The Golden 1 Credit Union include the Chief Executive Officer (CEO) and Senior Vice Presidents (SVPs). The compensation review process for Officers is as follows: CEO COMPENSATION: A committee consisting of four members from the Board of Directors (called the CEO Compensation Committee) is formed each year to review CEO Compensation. The Chairman of this Committee directs the SVP of Human Resources to provide pay trend information for review and consideration taking into consideration asset size, business scope, and overall complexity of the operations. Similar industry and banking surveys are used for comparison purposes. The results, which are provided to the Committee, compares benchmark base pay, incentive pay, and total compensation to Golden 1's current CEO compensation package. After review and consideration, the Committee provides a recommendation to the full Board of Directors for approval. THE DECISION IS DOCUMENTED CONTEMPOARENOUSLY AND MAINTAINED IN HUMAN RESOURCES. SVP COMPENSATION: A similar analysis is performed for the SVPs as requested by the President & CEO. Similar industry and banking surveys are used as referenced above. An overall competitive analysis is performed by the SVP of Human Resources and the results and supporting documentation are presented to the CEO. FORM 990 PART VI, LINE 19 The Golden 1 Credit Union's Form 990 will be available on GuideStar.org for public inspection. The Golden 1 Credit Union's quarterly National Credit Union Administration (NCUA) Call 5300 Report contains financial and statistical data. This regulatory report is available for public inspection online at NCUA.gov. Golden 1's Annual Report is publically available on our website at golden1.com. Golden 1 members may request copies of financial statements by calling our Member Service Contact Center. Form 990 PART VI, LINE 6 The Golden 1 Credit Union provides financial services for its regulatory-permissible field of membership. Form 990 Part IV, Line 26 Loans from the credit union to interested persons were made on the same terms as offered to other members of the credit union. FORM 990 PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCE: CHANGE IN OTHER COMPREHENSIVE INCOME $ 4,325,653 UNREALIZED GAINS ON INVESTMENTS 1,055,040 ------------ TOTAL 5,380,693 ============ FORM 990 PRIOR TO THE 2008 FORM 990, THE GOLDEN 1 CREDIT UNION WAS PART OF THE GROUP FILING FOR CREDIT UNIONS IN THE STATE OF CALIFORNIA, BY THE DEPARTMENT OF FINANCIAL INSTITUTIONS (DFI).