2024-11-01T17:48:16-07:00 2023-12-31 990 2023-01-01 951679450 MY POINT CREDIT UNION MYPO 8584953400 9420 Farnham Street San Diego CA 92123 Matthew Rhead SVP-Finance/CFO 8584953400 2024-11-01 1 2023 2024-10-15 13:58:12Z MyPoint Credit Union 9420 Farnham Street San Diego CA 92123 28485147 0 X www.mypointcu.com X Credit Union 1948 CA MyPoint Credit Union provides its members with higher saving dividends, enhanced services, lower loan rates, and reduced service fees. 7 7 125 14 0 0 0 0 24561685 28485147 0 0 0 0 24561685 28485147 0 0 0 0 11850522 12842821 0 0 0 10367605 14783874 22218127 27626695 2343558 858452 686854759 657682402 631974539 601943730 54880220 55738672 We are committed to working together to help our members achieve their financial goals, while being financially prudent to assure safety and soundness. 0 0 MyPoint Credit Union provides its membership competitively priced deposit products. As of 12/31/23, the credit union held 31,970 savings accounts, 22,420 checking accounts, 3,278 money market accounts, 3,388 share certificates, and 1,367 IRA certificates in the amount of $150,379,419, $170,558,486, $85,683,650, $137,674,223 and $14,227,077 respectively. In total, the credit union held 62,423, accounts in the amount of $558,522,855 with a membership of 27,903. MyPoint Credit Union provides its membership competitive consumer loan programs including vehicle loans, unsecured loans, and a business loan program to help our local small businesses. The credit union funded 1,268 new loans in the amount of $59,696,883. As of 12/31/2023, the credit union held 14,939 consumer and business loans in the amount of $247,928,386. MyPoint Credit Union offers a competitive mortgage loan program to make home ownership more affordable to its membership. In 2023, the credit union funded new real estate loans including 1st and 2nd trust deed mortgages and home equity lines of credit, in the amount of $37,117,418. As of 12/31/23, the credit union held the total of 1,701 real estate loans in the amount of $228,118,676. 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 1 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 6734 0 125 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 0 1 0 0 1 1 1 0 0 X MyPoint Credit Union 8584953400 9420 Farnham Street San Diego CA 92123 David R Brooke President/CEO 40 X 652918 0 46360 Matthew Mower SVP/CIO 40 X 336476 0 37134 Peter Butler SVP/COO 40 X 329248 0 36130 Matthew Rhead SVP/CFO 40 X 321836 0 38761 Michael Kim VP/Lending 40 X 233236 0 40203 Christopher Crockett VP/Retail Operations 40 X 242497 0 18596 Laura Carpanzano Director of Business Lending 40 X 231969 0 28936 Janet Mainenti VP/HR 40 X 243778 0 14510 Nicole Henderson Controller 40 X 179261 0 37903 Pey-Shiuan Zavala IT Director 40 X 193394 0 10009 Stephen Wallis Director of Internal Audit 40 X 172077 0 21715 Scott Norris VP/Marketing 40 X 159008 0 24807 Jeffrey M Goecke Chairman 10 X 0 0 0 Mark R Moeller Vice Chairman 10 X 0 0 0 Jane M White Treasurer 10 X 0 0 0 Linda O Stay Secretary 10 X 0 0 0 Jo Anna Lamott Director 10 X 0 0 0 Salvatore J Lupo Director 10 X 0 0 0 Malcolm C McCollum Director 10 X 0 0 0 3295698 0 355064 20 0 1 0 0 0 Interest from Loans 522130 19494174 19494174 0 0 Fee Income 522130 4220953 4220953 0 0 Investment Income 522130 4142875 4142875 0 0 Non-Operating Gain 522130 627145 627145 0 0 28485147 0 0 0 0 0 28485147 28485147 0 0 0 0 0 0 3650761 0 7206562 491798 755518 738182 190753 39063 60225 0 0 0 0 575399 648323 2189672 0 1206065 20970 0 283457 241282 0 1260047 149421 Dividend to Members 4160609 Provision for Loan Losses 1240948 Operation Expenses 2219184 298456 27626695 0 0 0 30330089 30507297 0 0 0 0 10926404 9653623 0 0 0 0 487282295 474277211 1261805 2865775 20703632 13976208 6363100 6727424 0 0 0 0 134187502 119195715 16503564 0 14455357 686854759 657682402 28436850 24726430 0 0 0 379439 421647 603158250 576795653 631974539 601943730 X 0 0 0 0 54880220 55738672 54880220 55738672 686854759 657682402 858452 0 0 0 0 X 0 1 X 1 0 1 425319 4312083 4516501 220901 1 X 0 1715651 1715651 0 5439156 3401170 2037986 0 1743367 795574 947793 0 11805458 9779464 2025994 0 0 0 0 6727424 GSE bonds 119195715 C 119195715 576795653 576795653 28485147 0 0 0 0 0 28485147 0 0 0 28485147 27626695 0 0 0 0 0 27626695 0 0 0 27626695 Schedule D, Part IV, Line 1b Schedule D, Part IV, Line 1b - The credit union sold some of its mortgage loans to Fannie Mae, but continues to provide loan servicing. The mortgage payments are collected from the members and held in the custodial accounts until Fannie Mae transfers the funds. Schedule D, Part IV, Line 2b Schedule D, Part IV, Line 1b - The credit union sold some of its mortgage loans to Fannie Mae, but continues to provide loan servicing. The mortgage payments are collected from the members and held in the custodial accounts until Fannie Mae transfers the funds. X 1 1 X X X 0 0 0 David R Brooke President/CEO 542070 0 68300 0 42547 0 24879 0 21481 0 699277 0 Peter Butler SVP/COO 293355 0 26194 0 9700 0 15106 0 21024 0 365379 0 Matthew Rhead SVP/CFO 286539 0 25597 0 9700 0 14586 0 24175 0 360597 0 Matthew Mower SVP/CIO 297269 0 26257 0 12950 0 14851 0 22283 0 373610 0 Michael Kim VP/Lending 212339 0 16848 0 4049 0 11123 0 29080 0 273439 0 Christopher Crockett VP/Retail Operations 221812 0 16636 0 4049 0 7003 0 11593 0 261093 0 Janet Mainenti VP/HR 223067 0 16662 0 4049 0 11113 0 3397 0 258288 0 Laura Carpanzano Director of Business Lending 217203 0 14765 0 0 0 11114 0 17822 0 260904 0 Nicole Henderson Controller 168064 0 11198 0 0 0 9030 0 28873 0 217165 0 Pey-Shiuan Zavala IT Director 181937 0 11456 0 0 0 7843 0 2166 0 203402 0 Stephen Wallis Director of Internal Audit 156046 0 10664 0 5368 0 7935 0 13779 0 193792 0 Scott Norris VP/Marketing 155115 0 0 0 3893 0 7875 0 16932 0 183815 0 Schedule J, Part I, Line 1a Schedule J, Part I, Line 1a - Officials are reimbursed for their business expenses including those of one spouse/guest. Reimbursement will be for all reasonable expenses (i.e. travel, meals, lodging, and conference registration) in compliance with the Internal Revenue Service Code and credit union rules and regulations. Form 990, Header, Line A Form 990, Part VI, Section A, Line 6 - MyPoint Credit Union is owned by its members. Form 990, Part VI, Section A, Line 7a - The credit union members elect the 7-member Board of Directors Form 990, Part VI, Section B, Line 11b - Form 990 was prepared by the Controller and reviewed for accuracy by the CFO. Form 990, Part VI, Section B, Line 15 - Upon analysis and recommendation of Executive Compensation Committee, the Board of Directors determines compensation of the CEO based on comparability data and performance evaluation. Contemporaneous minutes are recorded or Executive Compensation Commitee and Board of Directors meetings during which CEO compensation is addressed. It's conducted annually. Form 990, Part VI, Section C, Line 19 - Upon request. Form 990, Part VI, Section A, Line 6 Form 990, Part VI, Section A, Line 6 - MyPoint Credit Union is owned by its members. Form 990, Part VI, Section A, Line 7a Form 990, Part VI, Section A, Line 7a - The credit union members elect the 7-member Board of Directors. Form 990, Part VI, Section B, Line 11b Form 990, Part VI, Section B, Line 11b - Form 990 was prepared by the Controller and reviewed for accuracy by the CFO. Form 990, Part VI, Section B, Line 15 Form 990, Part VI, Section B, Line 15 - Upon analysis and recommendation of Executive Compensation Committee, the Board of Directors determines compensation of the CEO based on comparability data and performance evaluation. Contemporaneous minutes are recorded or Executive Compensation Commitee and Board of Directors meetings during which CEO compensation is addressed. It's conducted annually. Form 990, Part VI, Section C, Line 19 Form 990, Part VI, Section C, Line 19 - Upon request. short of staff