2012-11-13T16:53:36-06:00 2011-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2011-01-01 950945085 SOUTHERN CALIFORNIA POSTAL CREDIT UNION SOUT 5624986057 2371 GRAND AVE LONG BEACH CA 90815 CHRISTINE HALEY 5624986057 2012-11-12 1 VALENTINO CREUS CPA P01054153 8189549700 2011 2016-02-24 21:20:13Z CHRISTINE HALEY 2371 GRAND AVE LONG BEACH CA 90815 2735027 0 X WWW.SCPCU.COM X CREDIT UNION 1933 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 21 12 699 0 0 0 1401820 1759369 722657 591146 60921 85512 2185398 2436027 0 2200 0 0 916392 1113324 0 0 0 1741740 1606051 2658132 2721575 -472734 -285548 57342507 73154547 48102036 63923171 9240471 9231376 X SOUTHERN CALIFORNIA POSTAL 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, SOUTHERN CALIFORNIA POSTAL 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 ACHIEVEMENT OF SATISFACTORY SERVICES PROVIDED TO MEMBERS IN CONNECTION WITH CONSUMER LOANS, I.E., AUTO LINES, VISA AND PERSONAL LINES OF CREDIT. ACCOMPLISHMENT OF TARGET GOALS IN CONNECTION WITH PROVISION OF MORTGAGE LOAN PRODUCTS TO EXISTING MEMBERS. MEMBER SATISFACTION IN CONNECTION WITH SERVICES PERTAINING TO CHECKING/SAVINGS ACCOUNTS, ATTRACTIVE CD RATES, IRA AND SIMILAR ACCOUNTS. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2056 0 1 21 1 0 0 0 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 0 0 CA X CHRISTINE HALEY 5624986057 2371 GRAND AVE LONG BEACH CA 90815 JERRY HARDISON 1.00 X 0 0 0 ALFRED SOUDER 1.00 X 0 0 0 MICHAEL KARLSON 1.00 X 0 0 0 ROXANNE STEPHENSON 1.00 X 0 0 0 PATRICK TILLET 1.00 X 0 0 0 RICHARD MAKAREWICZ 1.00 X 0 0 0 JIM DE SIMAS 1.00 X 0 0 0 BOB BOONE 1.00 X 0 0 0 CHRISTINE CHAVIRA 1.00 X 0 0 0 MARY HARMON 1.00 X 0 0 0 JOHN KATSUMATA 1.00 X 0 0 0 MARIA LUBRANO 1.00 X 0 0 0 CHRISTINE HALEY 50.00 X 150262 0 7845 KEN PETERSON 50.00 X 106437 0 14359 256699 0 22204 2 0 1 0 FISERV 75 REMITTANCE DRIVE SUITE 6958 CHICAGO IL 606756958 IT SERVICE PROVIDER 124529 1 INCOME FROM LOANS 522100 1389393 1389393 FEE INCOME 522100 369976 369976 1759369 590587 590587 299559 299000 559 559 559 MISC. INCOME 522100 85512 84813 699 85512 2436027 2435328 699 0 2200 256699 412218 386160 58247 71315 4550 292572 176044 303213 138356 74827 57462 349290 46476 ASSOCIATION DUES 34425 MISC OPERATING EXPENSES 33562 LOAN SERVICING EXPENSE 21834 OTHER LOSSES 2125 2721575 277480 914433 23261247 25914899 48673 31144 848069 728493 86236 119576 32626048 43827342 0 1042823 2347153 57342507 73154547 926433 1196646 47175603 62726525 48102036 63923171 X 0 0 0 0 9240471 9231376 9240471 9231376 57342507 73154547 X -285548 276453 X X 0 1 1 X 0 350 350 350 1 CCUL-PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 942329967 350 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: DONATION TO CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE TO PROMOTE TRADE INFORMATION PERTAINING TO CREDIT UNIONS. 415973 346759 69214 432096 381734 50362 119576 WC: INVESTMENTS 4527829 F CO-OP STOCK 25000 F ASI DEPOSIT 866269 F LOANS 26317907 F CORPORATE AMERICA CU 10928627 F ECCU RE PART LOANS - SAC 1161710 F 43827342 TAXES PAYABLE 5269 MEMBER SHARES 62721256 62726525 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 NOT DEEMED TO 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, 2012, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION IS NOT SUBJECT TO EXAMINATION BY U.S. FEDERAL AND STATE TAX AUTHORITIES FOR TAX YEARS BEFORE 2006. FOR THE YEAR ENDED JUNE 30, 2012, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. X 1 1 X X 0 0 0 CHRISTINE HALEY 132090 0 10000 0 8172 0 5970 0 1875 0 158107 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 SOUTHERN CALIFORNIA POSTAL 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. SOUTHERN CALIFORNIA POSTAL CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF SOUTHERN CALIFORNIA POSTAL 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 DISSOLUTIONS. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD AND MANAGEMENT REVIEW THE FORM 990 DURING THE BOARD MEETING AND PROVIDE COMMENTS AND MODIFICATIONS WHERE NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS SIGN A CONFLICT OF INTEREST POLICY AFTER THEY ARE ELECTED AND ANNUALLY THEREAFTER. FORM 990, PART VI, SECTION B, LINE 15A AN HR COMMITTEE IS FORMED FROM THE BOARD OF DIRECTORS TO PREPARE THE CEO'S REVIEW. INDUSTRY REPORTS INDICATING TOTAL COMPENSATION ARE REVIEWED. THE COMMITTEE BRINGS THE INFORMATION TO THE FULL BOARD FOR REVIEW, INPUT AND FINAL APPROVAL. THE CEO PREPARES THE REVIEW FOR ALL DIRECT REPORTS, AND USES INDUSTRY REPORTS INDICATING SALARY RANGES SPECIFIC TO EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION POSTS A SIGN IN THE LOBBY TO INQUIRE WITHIN TO REVIEW THE CREDIT UNION'S FINANCIALS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 76,453. EQUITY AQUIRED IN MERGER 200,000. TOTAL TO FORM 990, PART XI, LINE 5: 276,453. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. NOTE REGARDING MERGER: IN AUGUST 2011, SACRAMENTO DISTRICT POSTAL EMPLOYEES CREDIT UNION (MERGED CREDIT UNION) MERGED INTO SOUTHERN CALIFORNIA POSTAL CREDIT UNION. THE DEPARTMENT OF FINANCIAL INSTITUTIONS LIQUIDATED THE MERGED CREDIT UNION AND APPOINTED AMERICAN SHARE INSURANCE (ASI) AS ITS LIQUIDATING AGENT. SOUTHERN CALIFORNIA POSTAL CREDIT UNION ENTERED INTO AN AGREEMENT WITH ASI TO PURCHASE THE ASSETS OF THE MERGED CREDIT UNION.