PREMIER AMERICA CREDIT UNION: Form 990, tax year 2008
View the entire original 990 at ProPublica ↗
- Organization
- PREMIER AMERICA CREDIT UNION (EIN 95-3442691)
- Tax period
- 2008-01-01 to 2008-12-31
- Filed
- 2011-07-20
- IRS object ID
- 201112019349300216
- Schema version
- 2008v2.9
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-07-20T12:45:51-05:00 | Timestamp |
| Tax Period End Date | 2008-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM McGladrey Inc | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 Nicollet Mall Suite 1100 | AddressLine1 |
| City | Minneapolis | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2008-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 953442691 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PREMIER AMERICA CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | PREM | NameControl |
| Phone | 8187724021 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19867 PRAIRIE STREET | AddressLine1 |
| City | CHATSWORTH | City |
| State | CA | State |
| ZIP Code | 91311 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | BRAD CUNNINGHAM | Name |
| Title | CFO | Title |
| Phone | 8187724021 | Phone |
| Date Signed | 2011-07-20 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Collin F Buzzell | Name |
| Phone | 6125738750 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2008 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amended Return | X | AmendedReturn |
| Name Of Principal Officer Person | JOHN M MERLO | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19867 PRAIRIE STREET | AddressLine1 |
| City | CHATSWORTH | City |
| State | CA | State |
| ZIP Code | 91311 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 77979555 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.PREMIER.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1957 | YearFormation |
| State Legal Domicile | CA | StateLegalDomicile |
| Activity Or Mission Description | A cooperative organized for the purpose of promoting thrift and savings among its members. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 8 | NbrIndependentVotingMembers |
| Total Nbr Employees | 280 | TotalNbrEmployees |
| Total Nbr Volunteers | 13 | TotalNbrVolunteers |
| Total Gross UBI | 295810 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -150458 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 75404126 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 82330880 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 5978623 | InvestmentIncomePriorYear |
| Investment Income Current Year | 5557612 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1895477 | OtherRevenuePriorYear |
| Other Revenue Current Year | -9908937 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 83278226 | TotalRevenuePriorYear |
| Total Revenue Current Year | 77979555 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 33468760 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 31485157 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 15030628 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 17407124 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 26724686 | OtherExpensePriorYear |
| Other Expenses Current Year | 33961134 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 75224074 | TotalExpensesPriorYear |
| Total Expenses Current Year | 82853415 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 8054152 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -4873860 | RevenuesLessExpensesCY |
| Total Assets BOY | 1384432894 | TotalAssetsBOY |
| Total Assets EOY | 1454057321 | TotalAssetsEOY |
| Total Liabilities BOY | 1260782978 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1342876579 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 123649916 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 111180742 | NetAssetsOrFundBalancesEOY |
| Mission Description | 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, Premier America Credit Union conducts its business for the mutual benefit and general welfare of its members with the earnings, savings, benefits, or services of the credit union being distributed to its members as patrons. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | The organization successfully increased its membership and achieved target deposit balances, encouraging and promoting savings by members. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | The organization met mortgage needs of first time home buyers. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Provided educational information on deposit and loan products. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 1 | PoliticalActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Audited Financial Statements | 1 | AuditedFinancialStatements |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Number Forms Transmitted With1096 | 52755 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 280 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 8 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | LINDA MARQUEZ | NamePerson |
| Telephone Number | 8187724021 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19867 PRAIRIE STREET | AddressLine1 |
| City | CHATSWORTH | City |
| State | CA | State |
| ZIP Code | 91311 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (18 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| JOHN M MERLO | ||||||||
| PRESIDENT/CEO | 40.00 | X | X | 604176 | 0 | 676526 | ||
| NANCY CHANDLER | ||||||||
| CHAIR | 1.00 | X | X | 1102 | 0 | 0 | ||
| JOHN DE VERE | ||||||||
| VICE CHAIR | 1.00 | X | X | 757 | 0 | 0 | ||
| NORMAN L ROBERTS | ||||||||
| SECRETARY/TREASURER | 1.00 | X | X | 0 | 0 | 0 | ||
| LARRY CARLSON | ||||||||
| DIRECTOR | 1.00 | X | 908 | 0 | 0 | |||
| ERIC GOLDNER | ||||||||
| DIRECTOR | 1.00 | X | 912 | 0 | 0 | |||
| ROGER LUBIG | ||||||||
| DIRECTOR | 1.00 | X | 1187 | 0 | 0 | |||
| JAMES ANDERSEN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| LAWRENCE S HOKE | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| TIMOTHY G PAULSON | ||||||||
| SENIOR VP/CFO | 40.00 | X | 1673622 | 0 | 538704 | |||
| MARJORIE MCNAUGHT | ||||||||
| SENIOR VP, LENDING & TEC | 40.00 | 410127 | 0 | 373179 | X | |||
| LIZABETH CONDERCURI | ||||||||
| SENIOR VP, OPERATIONS | 40.00 | 1677499 | 0 | 469159 | X | |||
| KERRY LEWIS | ||||||||
| SENIOR VP, MARKETING | 40.00 | 228811 | 0 | 15855 | X | |||
| JAMES RITTER | ||||||||
| VP/MGMR BUS SERVICES | 40.00 | 221140 | 0 | 18664 | X | |||
| BILL LORTZ | ||||||||
| VP, SYSTEMS & TECH | 40.00 | 161354 | 0 | 10030 | X | |||
| KELLY KAREN | ||||||||
| INVESTMENT REP/CONSULTAN | 40.00 | 173035 | 0 | 15195 | X | |||
| JESUS LOPEZ | ||||||||
| INVESTMENT REP/CONSULTAN | 40.00 | 118487 | 0 | 12496 | X | |||
| MICHELLE JAMES | ||||||||
| VP, LENDING | 40.00 | 132437 | 0 | 4910 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 5405554 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 2134718 | TotalOtherCompensation |
| Number Individuals GT100 K | 15 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| FIDELITY NATIONAL INFORMATION SERVICES | |||||
| 601 S LAKE DESTINY RD STE 300 | MAITLAND | FL | 32751 | CORE COMPUTER SYSTEM AND SUPPORT | 1413238 |
| STARNET DATA DESIGN INC | |||||
| 2659 TOWNSGATE RD STE 227 | WESTLAKE VILLAGE | CA | 91361 | CORE SYS CONVERSION EQUIP/TECH SUPPORT | 753897 |
| DIGITAL INSIGHT | |||||
| 26025 MUREAU RD | CALABASAS | CA | 91302 | HOME BANKING SYSTEM & MAINTENANCE | 687484 |
| BLUE SHIELD OF CALIFORNIA | |||||
| CASH RECEIVING POB FILE 55331 | LOS ANGELES | CA | 900745331 | EMPLOYEE HEALTH INSURANCE | 559508 |
| KAISER FOUNDATION HEALTH PLAN INC | |||||
| PO BOX 80204 WORLD WAY POSTAL CENTE | LOS ANGELES | CA | 90080 | EMPLOYEE HEALTH INSURANCE | 428505 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 30 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| income from member loa | 522100 | 73719590 | 73719590 | |
| SERVICE CHARGES AND FE | 522100 | 4453655 | 4157845 | 295810 |
| OTHER NON-INTEREST INC | 522100 | 2100725 | 2100725 | |
| CREDIT/DEBIT CARD INTE | 522100 | 2056910 | 2056910 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 82330880 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 5557612 | TotalRevenueColumn |
| Exclusion | $5,557,612 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | impairment loss on cap | Description |
| Business Code | 522100 | BusinessCode |
| Total Revenue Column | -9908937 | TotalRevenueColumn |
| Related Or Exempt Function Income | -9908937 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | -9908937 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 77979555 | TotalRevenueColumn |
| Related Or Exempt Function Income | 72126133 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 295810 | UnrelatedBusinessRevenue |
| Exclusion | $5,557,612 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31485157 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4745174 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9686678 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 344260 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1733085 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 897927 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 244119 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 155150 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 237049 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4290799 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1181913 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 101183 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1159707 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 39015 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 340574 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10296361 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 765279 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 160502 | Total |
Other Expenses OtherExpenses (3 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| Provision for Loan Loss | 13210000 |
| Loan Servicing Expense | 1204386 |
| miscellaneous operating | 575097 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 82853415 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 63824971 | BOY |
| EOY | 76696954 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5185830 | BOY |
| EOY | 5498051 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1159079813 | BOY |
| EOY | 1218593430 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 29534353 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 11555268 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15277373 | BOY |
| EOY | 17979085 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12922880 | BOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 96261301 | BOY |
| EOY | 110174533 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 1257812 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 31880726 | BOY |
| EOY | 23857456 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1384432894 | BOY |
| EOY | 1454057321 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11321265 | BOY |
| EOY | 11530737 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 185000000 | BOY |
| EOY | 190000000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1064461713 | BOY |
| EOY | 1141345842 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1260782978 | BOY |
| EOY | 1342876579 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 123649916 | BOY |
| EOY | 111180742 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 123649916 | BOY |
| EOY | 111180742 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1384432894 | BOY |
| EOY | 1454057321 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | 9500 | PoliticalExpenditures |
| Amt Of Internal Funds Contributed | 9500 | AmtOfInternalFundsContributed |
| Total Exmpt Function Expenditures | 9500 | TotalExmptFunctionExpenditures |
| Form1120 Pol Filed | 1 | Form1120PolFiled |
Sec527 Pol Orgs Sec527PolOrgs (6 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | Amt Pd From Internal FundsAmtPdFromInternalFunds |
|---|---|---|---|---|
| CALIFORNIA CREDIT UNION LEAGUE PAC | ||||
| 1201 K STREET SUITE 1050 | SACRAMENTO | CA | 95814 | 6000 |
| FRIENDS OF ERFRN CARILLO | ||||
| PO BOX 7041 | SANTA ROSA | CA | 954070041 | 500 |
| PADILLA FOR SENATE | ||||
| PO BOX | SANTA MONICA | CA | 90403 | 1000 |
| RE-ELECT AUDRA STRICKLAND FOR ASSEMBLY | ||||
| PO BOX 1142 | THOUSAND OAKS | CA | 91358 | 500 |
| COMMITTEE RO RE-ELECT AUDRA STRICKLAND ASSEMBLY 2008 | ||||
| PO BOX 1142 | THOUSAND OAKS | CA | 91358 | 500 |
| DAVE JONES FOR ASSEMBLY 2008 | ||||
| 1127 11TH STREET SUITE 505 | SACRAMENTO | CA | 95814 | 1000 |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Part I-A, Line 1: | Identifier |
| Return Reference | Organizations Direct and Indirect Political Campaign Activities: | ReturnReference |
| Explanation | THE CREDIT UNION CONTRIBUTIONS TO CAMPAIGNS THAT SUPPORT CREDIT UNIONS. | Explanation |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3731592 | OtherCostOrOtherBasis |
| Book Value | 3731592 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 12657174 | OtherCostOrOtherBasis |
| Depreciation | 4146526 | Depreciation |
| Book Value | 8510648 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2893795 | OtherCostOrOtherBasis |
| Depreciation | 2326150 | Depreciation |
| Book Value | 567645 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10251792 | OtherCostOrOtherBasis |
| Depreciation | 5082592 | Depreciation |
| Book Value | 5169200 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 17979085 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| fhlb stock | 9955200 | F |
| share certificates in a copr cu | 100200000 | F |
| other investments | 19333 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 110174533 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| MEMBER SHARE DEPOSITS | $1,035,795,835 |
| state of california treasury deposits | $100,142,105 |
| other liabilities | $5,407,902 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1141345842 | TotalOfAmounts |
| Total Revenue | 77979555 | TotalRevenue |
| Total Expenses | 82853415 | TotalExpenses |
| Excess Or Deficit For Year | -4873860 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -6658349 | NetUnrealizedGLOnInvestments |
| Other | -$936,965 | OtherAmount |
| Total Adjustments | -7595314 | TotalAdjustments |
| Excess Or Deficit Per FS | -12469174 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 71244086 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | -6735469 | OtherRevenues |
| Revenue Not Rptd F990 | -6735469 | RevenueNotRptdF990 |
| Revenue Subtotal | 77979555 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 77979555 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 82853415 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 82853415 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 82853415 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Part X: | Description of Uncertain Tax Positions Under FIN 48: | FIN48 IS NOT APPLICABLE TO THE YEAR ENDED 12/31/2008. |
| Part XI, Line 8 - Other Adjustments: | net change in fair value of derivatives used as cash flow hedges: -936965. | |
| Part XII, Line 2d - Other Adjustments: | unrealized loss in value of insurance/annuity policies: -6735469. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 0 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (8 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Bonus Filing OrgBonusFilingOrg | Deferred Comp Filing OrgDeferredCompFilingOrg | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Total Compensation Filing OrgTotalCompensationFilingOrg |
|---|---|---|---|---|
| JOHN M MERLO | ||||
| 543924 | 60252 | 639648 | 36878 | 1280702 |
| TIMOTHY G PAULSON | ||||
| 1644321 | 29301 | 512870 | 25834 | 2212326 |
| MARJORIE MCNAUGHT | ||||
| 379426 | 30701 | 352839 | 20340 | 783306 |
| LIZABETH CONDERCURI | ||||
| 1648198 | 29301 | 453150 | 16009 | 2146658 |
| KERRY LEWIS | ||||
| 219811 | 9000 | 7767 | 8088 | 244666 |
| JAMES RITTER | ||||
| 130310 | 90830 | 8866 | 9798 | 239804 |
| BILL LORTZ | ||||
| 153247 | 8107 | 6438 | 3592 | 171384 |
| KELLY KAREN | ||||
| 15826 | 157209 | 8500 | 6695 | 188230 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| Part I, Line 1a | TRAVEL FOR COMPANIONS - BOARD MEMBERS MAY BRING HIS/HER SPOUSE TO OUT OF STATE CONFERENCES. THE CREDIT UNION PAYS FOR PLANE FARES AND MEALS. FORM 1099-MISC IS FILED IF THE AMOUNT EXCEEDS $600 FOR THE YEAR. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS - THIS IS RELATED TO SELECTED CREDIT UNION EXECUTIVES WITH SPLIT-DOLLAR INSURANCE POLICIES. |
| Part I, Line 4a | Part I, Line 4b: LIZABETH CONDERCURI - $1,331,032 TIMOTHY G PAULSON - $1,317,934 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Form 990, Part VI, Section A, line 6 | The credit union's members have rights to elect the members of the governing body. The credit union's members also receive a share of the organization's profits in the form of cash dividends. |
| Form 990, Part VI, Section A, line 7a | Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, or as vacancies arise, or otherwise. |
| Form 990, Part VI, Section A, line 7b | Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur. |
| Form 990, Part VI, Section A, line 10 | FORM 990 IS REVIEWED BY THE CONTROLLER, CFO, AND PRESIDENT. AN ELECTRONIC COPY IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND DISCUSSION. ANY CHANGES AND MODIFICATIONS ARE THEN TAKEN INTO ACCOUNT FOR FINAL COMPLETION AND APPROVAL OF FORM 990 PRIOR TO FILING WITH THE IRS. |
| Form 990, Part VI, Section B, line 12c | THE CONFLICT OF INTEREST POLICY IS CONTAINED IN THE CODE OF RESPONSIBILITY AND ETHICS THAT EACH EMPLOYEE IS REQUIRED, ANNUALLY, TO ACKNOWLEDGE. VIA WRITTEN POLICY, ALL EMPLOYEES AND OFFICIALS ARE MADE AWARE OF THE CREDIT UNION'S COMPLIANCE REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, CONFLICTS OF INTEREST POLICY. STANDARD CREDIT UNION PROCEDURES AND REQUIREMENTS ARE CONSISTENTLY APPLIED TO ANY BUSINESS TRANSACTION BY DIRECTORS, OFFICERS AND EMPLOYEES. IF A DECISION IS REQUIRED REGARDING A BUSINESS TRANSACTION THAT COULD POTENTIALLY RISE TO A PERCEPTION OF A CONFLICT OF INTEREST, THE INVOLVED PARTY WILL RECLUSE HIM OR HERSELF FROM DISCUSSION AND REVIEW OF TRANSACTION. TRANSACTIONS INVOLVING INDIVIDUAL ACCOUNTS ARE MONITORED BY THE INTERNAL AUDITOR ON A REGULAR BASIS. |
| Form 990, Part VI, Section B, line 15 | Extensive annual surveys are conducted for key positions in the Credit Union including, but not limited to, top management and key employees. These surveys are provided by professional compensation analysts who work directly with data within the financial industry field. These surveys provide total compensation information that ranges from broad macro issues to specific elements of total compensation structures. |
| Form 990, Part VI, Section C, line 19 | FINANCIAL STATEMENTS ARE POSTED MONTHLY IN ALL BRANCHES. THE ANNUAL REPORT IS AVAILABLE AT THE CREDIT UNION'S WEBSITE. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PREMIER FINANCIAL SERVICES INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2178 | AddressLine1 |
| City | CHATSWORTH | City |
| State | CA | State |
| ZIP Code | 91313 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 954391970 | EIN |
| Primary Activity | SALE OF INVESTMENT/INSURANCE PRODUCTS | PrimaryActivity |
| Legal Domicile State | CA | LegalDomicileState |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Type Of Entity | C | TypeOfEntity |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |