2022-09-15T11:09:03-05:00 2021-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2021-01-01 951653038 FINANCIAL PARTNERS CREDIT UNION FINA 5629044208 7800 EAST IMPERIAL HIGHWAY DOWNEY CA 90242 MARY TORSNEY SVP/CFO 5629044208 2022-09-14 1 MARY TORSNEY 999009999 VALENTINO CREUS CPA P01054153 8189549700 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z NADER MOGHADDAM 7800 EAST IMPERIAL HIGHWAY DOWNEY CA 90242 88455849 0 X WWW.FPCU.ORG X CREDIT UNION 1937 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 397 15 968815 0 0 0 81954216 75725683 1920430 3546864 0 4787648 83874646 84060195 83397 632789 0 0 31058173 31471113 0 0 0 41477398 40262935 72618968 72366837 11255678 11693358 1754411091 1913935025 1606173121 1756025216 148237970 157909809 X FINANCIAL PARTNERS 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, FINANCIAL PARTNERS 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. 0 0 RECEIVED THE BANK-ON CERTIFICATION - GIVING ACCESS TO A CHECKING ACCOUNT FOR ALL PEOPLE. RECEIVED A GRANT FOR CREDIT BUILDER LOAN FOR LOW MOD INCOME HOUSEHOLDS. RECEIVED THE DESIGNATION OF CDFI (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS) TO HELP LOW-INCOME COMMUNITIES BY PROVIDING ACCESS TO FINANCIAL PRODUCTS AND SERVICES FOR LOCAL RESIDENTS AND BUSINESSES. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 21127 0 1 397 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 CA X X MARY TORSNEY SVPCFO 5629044213 7800 EAST IMPERIAL HIGHWAY DOWNEY CA 90242 BARBARA SMITH CHAIR 1.00 X 1725 0 0 YVES PINKOWITZ VICE CHAIR 1.00 X 1474 0 0 ALAN BERGMAN TREASURER 1.00 X 1835 0 0 DR WILLIAM FEASTER SECRETARY 1.00 X 0 0 0 RALPH CROWTHER PAST CHAIRMAN BOARD MEMBER 1.00 X 2774 0 0 DONNA CLAWSON BOARD MEMBER 1.00 X 1077 0 0 MARIO GUERRA BOARD MEMBER 1.00 X 3003 0 0 PAUL GEERY BOARD MEMBER 1.00 X 0 0 0 ALEX SAAB BOARD MEMBER 1.00 X 0 0 0 JOE SPETZ EMERITUS 1.00 X 0 0 0 GARY MACHEEL EMERITUS 1.00 X 0 0 0 CARYN PHILLIPS SUPV CMTE CHAIR 1.00 X 2814 0 0 STEVE KOESTER SUPV CMTE SECRETARY 1.00 X 0 0 0 VINCE WORKMAN SUPV CMTE MEMBER 1.00 X 0 0 0 NADER MOGHADDAM PRESIDENT/CEO 40.00 X 1130545 0 52102 MARY TORSNEY SVP/CFO 40.00 X 462632 0 45129 WANDA A WILLIAMS SVP/CAO 40.00 X 619426 0 40369 JOSEPH BRANCUCCI SVP/CLO 40.00 X 581116 0 26000 JUAN A JIMENEZ-LINDMEIER VP REAL ESTATE LOAN PRODUC 40.00 X 504189 0 45602 DARREN HERRMANN SVP/COO 40.00 X 378871 0 38445 ERMETE VESTRI VP REAL ESTATE LENDING 40.00 X 303160 0 47949 JUSTIN CHANG VP COMMERCIAL LENDING 40.00 X 285788 0 31438 JILL HALL-ERPS SVP/CRO 40.00 X 288013 0 26000 LORI REEVES SVP MARKETING 40.00 X 263732 0 35093 PHILLIP FOWLER VP/CIO 40.00 X 246715 0 19129 CAMBRIA BRIGGS SVP HUMAN RESOURCES 40.00 X 249594 0 18058 STEVEN JOFFE VP CONSUMER LENDING 40.00 X 227175 0 14595 MARIO OSORIO VP INVESTMENT/INSURANCE 40.00 X 226003 0 22506 DENNIS DONNELLY VP MEMBER CONTACT CENTER 40.00 X 200916 0 24787 ERIC JOHNSON VP CONTROLLER 40.00 X 200426 0 26747 STEPHANIE HEGLAR VP RISK MANAGEMENT 40.00 X 194138 0 38656 TRAVIS LONG VP ENTERPRISE PROJECT MGMT 40.00 X 190526 0 38318 JOHN ROBERT SANCHEZ VP FACILITIES PURCHASING & 40.00 X 171843 0 35515 KRIS SMITH VP IT 40.00 X 155988 0 41647 JOANN FORTE VP LOAN RESOLUTION 40.00 X 169990 0 24325 LARRY ROMERO SR COMMERCIAL LOAN OFFICER 40.00 X 562776 0 19920 WILLIAM BROWN EXTERNAL REAL ESTATE LOAN 40.00 X 759159 0 25979 CARLOS EDUARDO BURGA EXTERNAL REAL ESTATE LOAN 40.00 X 611070 0 26166 SHANE L STOCKWELL EXTERNAL REAL ESTATE LOAN 40.00 X 432913 0 0 JOHN IACONA EXTERNAL REAL ESTATE LOAN 40.00 X 399968 0 26000 TAMER ABOUELEZZ EXTERNAL REAL ESTATE LOAN 40.00 X 381520 0 39420 10212894 0 829895 85 0 1 0 0 INTEREST ON LOANS 522100 46650736 46650736 OTHER OPERATING INCOME 522100 25068327 24164429 903898 FEE INCOME 522100 4006620 3941703 64917 75725683 3411705 3411705 3666708 864105 3527754 867900 138954 -3795 135159 135159 CHANGE IN FAIR VALUE O 522100 2404383 2404383 OTHER NON-OPERATING IN 522100 2383265 2383265 4787648 84060195 83091380 968815 0 627789 5000 10212894 14114455 1845590 3093469 2204705 273016 398931 2305823 2039574 4608640 3107761 3355190 583165 12478975 2351491 301739 LOAN SERVICING EXPENSE 6150447 MISC OPERATING EXPENSES 1580650 PROVISION FOR LOAN & LE 522680 OPERATING FEES 204853 72366837 29374128 27442907 145172452 138737926 28972682 28033166 2978800 2136130 51421606 20280597 29627294 31141009 110713355 268010262 1357879182 1371647202 198113 106033 49495085 46680390 1754411091 1913935025 38475641 66022353 1567697480 1690002863 1606173121 1756025216 X 0 0 0 0 148237970 157909809 148237970 157909809 1754411091 1913935025 X 11693358 -3415505 1393986 X X 0 1 X 1 0 12539 12539 12539 1 CCUL - PAC 2855 E GUASTI ROAD ONTARIO CA 91761 940357265 8539 BOB ARCHULETA FOR SENATE 2022 3124 W BEVERLY BLVD 2ND FLOOR MONTEBELLO CA 90640 4000 PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE TO PROMOTE TRADE INFORMATION PERTAINING TO CREDIT UNIONS. THE CREDIT UNION CONTRIBUTES TO INDIVIDUALS RUNNING FOR OFFICES WHO SUPPORT CREDIT UNION ISSUES. THE CREDIT UNION WAS UNABLE TO OBTAIN AN EIN FOR THE FOLLOWING INDIVIDUAL RUNNING FOR SENATE 2022. FOLLOWING IS THE NAME, ADDRESS AND FPPC# OF THE CAMPAIGN. BOB ARCHULETA 3124 W. BEVERLY BLVD, 2ND FLOOR MONTEBELLO, CA 90640 ID#1414156 8461810 8461810 24393142 6844715 17548427 2619505 1537942 1081563 15947149 11897940 4049209 31141009 ALL OTHER INVESTMENTS 7773200 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 13955399 C LOANS AND LEASES 1218609179 F LOANS HELD FOR SALE 131309424 F 1371647202 SHARES AND DEPOSITS 1622502701 OTHER PAYABLES 67500000 ACCRUED DIVIDENDS & INTEREST PAYABLE ON SHARE & DEPOSITS 162 1690002863 X 84060195 0 84060195 0 84060195 72366837 0 72366837 0 72366837 PART X, LINE 2: THE CREDIT UNION RECOGNIZES THE TAX BENEFIT FROM UNCERTAIN TAX POSITIONS, IF ANY, ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFIT IS MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE CREDIT UNION RECOGNIZES INTEREST ACCRUED AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AS AN ADMINISTRATIVE EXPENSE. THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2020 OR 2019. DURING THE YEARS ENDED DECEMBER 31, 2021 AND 2020, THE CREDIT UNION RECOGNIZED NO INTEREST AND PENALTIES. 1 CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 28345 0 FMV PROVIDE FINANCIAL SUPPORT FOR MEDICAL CARE FOR CHILDREN EMPLOYEES COMMUNITY FUND OF BOEING CALIFORNIA 2201 SEAL BEACH BLVD MC 110-SC04 SEAL BEACH CA 90740 952311678 501(C)(3) 6000 0 FMV INVOLVE BOEING EMPLOYEES IN SUPPORT OF COMMUNITY SERVICES WHERE THEY LIVE AND WORK. COLUMBIA MEMORIAL SPACE CENTER 12400 COLUMBIA WAY DOWNEY CA 90242 202904115 501(C)(3) 15000 0 FMV THROUGH WORLD-CLASS PROGRAMS AND ENGAGING EXHIBITS, THE COLUMBIA MEMORIAL SPACE CENTER STRIVES TO IGNITE A COMMUNITY OF CRITICAL AND CREATIVE THINKERSLEADERSHIP. NATIONAL COUNCIL FOR FINANCIAL OPPORTUNITIES 535 DOCK STREET SUITE 209 TACOMA WA 98402 611575044 501(C)(3) 500000 0 FMV TO INCREASE OPPORTUNITY INITIATIVE FOR ALL FILENE RESEARCH INSTITUTE 1010 EASH WASHINGTON SUITE 306 MADISON WI 53703 391645910 501(C)(3) 50000 0 FMV CONDUCT CUTTING-EDGE ACTIONABLE RESEARCH TO INCREASE LEARNING AND TRANSFORM ORGANIZATIONS. 5 1 SCHOLARSHIPS 4 5000 FMV X X 1 1 X X X X 0 1 0 NADER MOGHADDAM PRESIDENT/CEO 732367 0 395010 0 3168 0 26000 0 26102 0 1182647 0 0 0 MARY TORSNEY SVP/CFO 345852 0 114716 0 2064 0 26000 0 19129 0 507761 0 0 0 WANDA A WILLIAMS SVP/CAO 289132 0 324198 0 6096 0 25774 0 14595 0 659795 0 0 0 JOSEPH BRANCUCCI SVP/CLO 310863 0 260364 0 9889 0 26000 0 0 0 607116 0 0 0 JUAN A JIMENEZ-LINDMEIER VP REAL ESTATE LOAN PRODUC 150471 0 353259 0 459 0 19500 0 26102 0 549791 0 0 0 DARREN HERRMANN SVP/COO 291576 0 85231 0 2064 0 19316 0 19129 0 417316 0 0 0 ERMETE VESTRI VP REAL ESTATE LENDING 186425 0 113912 0 2823 0 16099 0 31850 0 351109 0 0 0 JUSTIN CHANG VP COMMERCIAL LENDING 197854 0 87277 0 657 0 15693 0 15745 0 317226 0 0 0 JILL HALL-ERPS SVP/CRO 219645 0 66350 0 2018 0 26000 0 0 0 314013 0 0 0 LORI REEVES SVP MARKETING 207042 0 54775 0 1915 0 26000 0 9093 0 298825 0 0 0 PHILLIP FOWLER VP/CIO 211988 0 32753 0 1974 0 0 0 19129 0 265844 0 0 0 CAMBRIA BRIGGS SVP HUMAN RESOURCES 216883 0 32250 0 461 0 18058 0 0 0 267652 0 0 0 STEVEN JOFFE VP CONSUMER LENDING 180444 0 45073 0 1658 0 0 0 14595 0 241770 0 0 0 MARIO OSORIO VP INVESTMENT/INSURANCE 198856 0 26208 0 939 0 22506 0 0 0 248509 0 0 0 DENNIS DONNELLY VP MEMBER CONTACT CENTER 174712 0 25871 0 333 0 8202 0 16585 0 225703 0 0 0 ERIC JOHNSON VP CONTROLLER 178299 0 21576 0 551 0 10162 0 16585 0 227173 0 0 0 STEPHANIE HEGLAR VP RISK MANAGEMENT 167450 0 25171 0 1517 0 26000 0 12656 0 232794 0 0 0 TRAVIS LONG VP ENTERPRISE PROJECT MGMT 165411 0 24600 0 515 0 19500 0 18818 0 228844 0 0 0 JOHN ROBERT SANCHEZ VP FACILITIES PURCHASING & 151539 0 18960 0 1344 0 20920 0 14595 0 207358 0 0 0 KRIS SMITH VP IT 151556 0 0 0 4432 0 7615 0 34032 0 197635 0 0 0 JOANN FORTE VP LOAN RESOLUTION 154309 0 13665 0 2016 0 17659 0 6666 0 194315 0 0 0 LARRY ROMERO SR COMMERCIAL LOAN OFFICER 140197 0 419062 0 3517 0 0 0 19920 0 582696 0 0 0 WILLIAM BROWN EXTERNAL REAL ESTATE LOAN 20544 0 738588 0 27 0 19500 0 6479 0 785138 0 0 0 CARLOS EDUARDO BURGA EXTERNAL REAL ESTATE LOAN 58656 0 552335 0 79 0 19500 0 6666 0 637236 0 0 0 SHANE L STOCKWELL EXTERNAL REAL ESTATE LOAN 58096 0 374703 0 114 0 0 0 0 0 432913 0 0 0 JOHN IACONA EXTERNAL REAL ESTATE LOAN 58096 0 341544 0 328 0 26000 0 0 0 425968 0 0 0 TAMER ABOUELEZZ EXTERNAL REAL ESTATE LOAN 50487 0 330919 0 114 0 19500 0 19920 0 420940 0 0 0 PART I, LINE 4B THREE MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM HAVE A NON-RECOURSE COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE POLICY, THE PREMIUMS OF WHICH ARE SUBJECT TO A LOAN TO THE EXECUTIVE, WHICH IS SECURED BY THE CASH SURRENDER VALUE IN THE POLICY. NADER MOGHADDAM OFFICER MORTGAGE X 1456900 1280557 0 1 1 LARRY ROMERO KEY EMPLOYEE MORTGAGE X 560000 494969 0 0 1 LORI REEVES OFFICER MORTGAGE X 720000 658636 0 1 1 NADER MOGHADDAM OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 10000000 11324207 0 1 1 DARREN HERRMANN OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 3200000 3414820 0 1 1 MARY TORSNEY OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 4850000 5175587 0 1 1 ERMETE VESTRI OFFICER MORTGAGE X 405000 368969 0 1 1 STEVEN JOFFE OFFICER MORTGAGE X 676000 642149 0 1 1 STEPHANIE HEGLAR OFFICER AUTO X 5000 2469 0 0 1 STEPHANIE HEGLAR OFFICER MORTGAGE X 508500 474684 0 1 1 TRAVIS LONG OFFICER MORTGAGE X 333000 297583 0 0 1 PHILLIP FOWLER OFFICER CREDIT CARD X 13000 2246 0 1 1 PHILLIP FOWLER OFFICER AUTO X 55648 44059 0 1 1 MARY TORSNEY OFFICER MORTGAGE X 770000 751584 0 1 1 WANDA A WILLIAMS OFFICER HELOC X 200000 199298 0 1 1 ERIC JOHNSON OFFICER MORTGAGE X 510000 493761 0 0 1 JOHN ROBERT SANCHEZ OFFICER AUTO X 24358 15032 0 1 1 CAMBRIA BRIGGS OFFICER AUTO X 36364 27586 0 1 1 JOSEPH BRANCUCCI MORTGAGE X 768000 762240 0 0 0 JUAN A JIMENEZ-LINDMEIER MORTGAGE X 825000 821579 0 0 0 WANDA A WILLIAMS MORTGAGE X 450000 447311 0 1 1 JOHN ROBERT SANCHEZ MORTGAGE X 337000 333840 0 0 0 28033166 FORM 990, PART VI, SECTION A, LINE 6 FINANCIAL PARTNERS 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. FINANCIAL PARTNERS CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF FINANCIAL PARTNERS 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 11B PRIOR TO FILING, THE EXECUTIVE COMMITEE OF THE BOARD REVIEWS THE 990 AND RECOMMENDS CHANGES IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C FOR THE CONFLICT OF INTEREST, EMPLOYEES RECEIVE THE CONFLICT OF INTEREST POLICY ON THE DATE OF HIRE. IF ANY CONFLICTS ARE NOTED THEN HR REVIEWS TO DETERMINE IF THERE REALLY IS A CONFLICT. ANNUALLY THE FORM IS SENT TO EACH EMPLOYEE FROM THE COMPLIANCE OFFICER AND IF ANY CONFLICTS ARE NOTED THEN HR REVIEWS TO DETERMINE IF THERE REALLY IS A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE CEO SALARY WAS DETERMINED BY THE EXECUTIVE COMMITTEE. THEY USED A CONSULTANT AS WELL AS COMPETITIVE DATA. THEY THEN MAKE A RECOMMENDATION TO THE BOD FOR FINAL APPROVAL. ALL OTHER POSITIONS ARE DETERMINED USING COMPETITIVE DATA. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED IN THE BRANCH LOCATIONS ON A MONTHLY BASIS. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME 1,393,986. ROUNDING FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR ITS SELECTION PROCESS DURING THE TAX YEAR. FINANCIAL PARTNERS SERVICES LLC 7800 E IMPERIAL HIGHWAY DOWNEY CA 90242 800434985 INSURANCE CA 0 0 FINANCIAL PARTNERS CREDIT UNION PARTNERSHIP INSURANCE AGENCY LLC 7800 E IMPERIAL HIGHWAY DOWNEY CA 90242 824137633 INSURANCE CA 440327 100274 FINANCIAL PARTNERS CREDIT UNION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 FINANCIAL PARTNERS SERVICES LLC O 0 ACTUAL AMOUNT PAID PARTNERSHIP INSURANCE AGENCY LLC O 49949 ACTUAL AMOUNT PAID