2024-11-14T11:33:06-06:00 2023-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2023-01-01 951968774 CABRILLO CREDIT UNION CABR 8585477400 3710 RUFFIN ROAD SAN DIEGO CA 92123 ALLEN ARVIZU CFO 8585477400 2024-11-12 1 1 VALENTINO CREUS CPA P01054153 8189549700 2023 2024-10-15 13:58:12Z KEVIN POSEY 3710 RUFFIN ROAD SAN DIEGO CA 92123 19750188 0 X WWW.CABRILLOCU.COM X CREDIT UNION 1955 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 93 10 39993 0 0 0 10410665 16936114 2180509 2774286 4673884 39788 17265058 19750188 0 71000 528766 0 7088988 7275982 0 0 0 7296512 10899770 14914266 18246752 2350792 1503436 404914151 397739431 382562374 370017508 22351777 27721923 X SEE SCHEDULE OCABRILLO 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, CABRILLO 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 PROVIDED DEPOSIT AND LOAN ACCOUNTS TO 24,459 MEMBERS.PROVIDED LOW COST SOURCE OF CREDIT AND LOW COST FINANCIAL SERVICES TO OUR MEMBERS. PROVIDED SOURCE FOR MEMBER SAVINGS AND CHECKING ACCOUNT NEEDS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 4560 0 1 93 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 0 1 1 0 0 0 CA X X X ALLEN ARVIZU CFO 8585477400 3710 RUFFIN ROAD SAN DIEGO CA 92123 RANDI LARSSON CHAIR 2.00 X 1206 0 0 RICHARD AMEZCUA VICE CHAIR 2.00 X 899 0 0 FRANK MIRANDA SECRETARY 2.00 X 859 0 0 KRISTOPHER WHITWORTH TREASURER 2.00 X 868 0 0 MANUEL BAYON BOARD MEMBER 1.00 X 1060 0 0 DAVE C RODRIGUEZ BOARD MEMBER 1.00 X 884 0 0 MARCELLA SERRANO-GOMEZ BOARD MEMBER 1.00 X 954 0 0 MICHAEL BARANIC SUPV CMTE CHAIR 2.00 X 867 0 0 JOEL LARA SUPV CMTE MEMBER 1.00 X 905 0 0 TINA PAISLEY SUPV CMTE MEMBER 1.00 X 883 0 0 KEVIN POSEY PRESIDENT/CEO 40.00 X 368286 0 28132 JOHN STEVENSON CFO 40.00 X 231820 0 13361 FRANKIE DUENAS CTO 40.00 X 255978 0 30807 GREGORY BROWN CLO 40.00 X 249998 0 20408 JUSTIN BURNS VP IT 40.00 X 144609 0 6455 ZHANNA SAUCIER SENIOR ANALYST 40.00 X 124623 0 4638 KELLI DAVIS AVP RISK & COMPLIANCE 40.00 X 118550 0 16882 JULIA FREITAS AVP MEMBER EXPERIENCE 40.00 X 114191 0 20648 LIZBETH BIALECKI AVP BUSINESS DEVELOPMENT 40.00 X 113808 0 10673 1731248 0 152004 13 0 1 0 SMITH FINANCIAL CONSULTING LLC 1651 MAPLELEAF COURT ENCINITAS CA 92024 FINANCIAL 407272 CYNTHIA GLEASON 3710 RUFFIN ROAD SAN DIEGO CA 92123 HUMAN RESOURCES 142022 GEM TEAM 3095 PALM VISTA CT EL CAJON CA 92019 TECHNOLOGY 102088 3 INTEREST ON LOANS 522100 12560263 12560263 OTHER OPERATING INCOME 522100 2635244 2635244 FEE INCOME 522100 1740607 1700614 39993 16936114 2774286 2774286 OTHER NON INTEREST INCOME 522100 39788 39788 39788 19750188 19710195 39993 0 71000 1731248 4373690 250885 450843 469316 223619 102567 700348 558590 1966503 1720730 750399 436127 2320213 400977 PROVISION FOR LOAN & LE 900435 LOAN SERVICING EXPENSE 726802 OPERATING FEES 53104 MISC NON-INTEREST EXPEN 39356 18246752 18905388 4089975 575501 9448434 559058 507080 222752066 847243 14268083 2326449 2788956 11941634 142510804 123171613 235655385 16822378 12078067 404914151 397739431 5965000 7119291 376597374 362898217 382562374 370017508 X 0 0 0 0 22351777 27721923 22351777 27721923 404914151 397739431 X 1503436 3763112 103598 X X 0 1 X 1 0 3341658 3341658 6831122 1438822 5392300 1463302 293217 1170085 1506880 594410 912470 1125121 1125121 11941634 PERPETUAL CONTRIBUTED CAPITAL 432896 C ALL OTHER INVESTMENTS 3140557 F NET LOANS & LEASES 228655396 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSITS 3426536 C 235655385 BORROWED FUNDS 17000000 TOTAL SHARES AND DEPOSITS 345898217 362898217 X PART X, LINE 2: 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 DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. 1 SHARP HEALTHCARE FOUNDATION 8695 SPECTRUM CENTER BLVD SAN DIEGO CA 92123 953492461 501(C)(3) 47000 0 FMV TO PROMOTE CONTRIBUTIONS AND COORDINATE GRANT PROGRAMS THAT ASSIST SHARP HEALTHCARE IN MEETING THE HEALTH NEEDS OF SAN DIEGO COMMUNITIES. RADY CHILDREN'S HOSPITAL 3020 CHILDRENS WAY MC 5005 SAN DIEGO CA 92123 951691313 501(C)(3) 24000 0 FMV TO RESTORE, SUSTAIN AND ENHANCE THE HEALTH AND DEVELOPMENTAL POTENTIAL OF CHILDREN THROUGH EXCELLENCE IN CARE, EDUCATION, RESEARCH AND ADVOCACY. 2 0 X 0 0 0 0 0 KEVIN POSEY PRESIDENT/CEO 304162 0 34823 0 29301 0 11778 0 16354 0 396418 0 0 0 JOHN STEVENSON CFO 204485 0 22535 0 4800 0 12150 0 1211 0 245181 0 0 0 FRANKIE DUENAS CTO 224587 0 26591 0 4800 0 13908 0 16899 0 286785 0 0 0 GREGORY BROWN CLO 221695 0 23503 0 4800 0 7629 0 12779 0 270406 0 0 0 JUSTIN BURNS VP IT 140550 0 4059 0 0 0 3170 0 3285 0 151064 0 0 0 RANDI LARSSON DIRECTOR CREDIT CARD X 23814 1095 0 1 1 RICHARD AMEZCUA DIRECTOR CREDIT CARD X 9000 8512 0 1 1 RICHARD AMEZCUA DIRECTOR UNSECURED LOAN X 25000 5361 0 1 1 FRANK MIRANDA DIRECTOR CREDIT CARD X 25253 18219 0 1 1 KRISTOPHER WHITWORTH DIRECTOR HELOC X 120824 37746 0 1 1 KRISTOPHER WHITWORTH DIRECTOR CREDIT CARD X 4035 149 0 1 1 KRISTOPHER WHITWORTH DIRECTOR AUTO LOAN X 65136 52960 0 1 1 MANUEL BAYON DIRECTOR AUTO LOAN X 17830 61 0 1 1 DAVE C RODRIGUEZ DIRECTOR CREDIT CARD X 25000 24750 0 1 1 DAVE C RODRIGUEZ DIRECTOR AUTO LOAN X 45685 35089 0 1 1 MARCELLA SERRANO-GOMEZ DIRECTOR CREDIT CARD X 15098 1471 0 1 1 JOEL LARA DIRECTOR CREDIT CARD X 18511 13444 0 1 1 TINA PAISLEY DIRECTOR CREDIT CARD X 17716 8498 0 1 1 TINA PAISLEY DIRECTOR MORTGAGE X 368000 283536 0 1 1 TINA PAISLEY DIRECTOR AUTO LOAN X 41189 16189 0 1 1 507080 FORM 990, PART VI, SECTION A, LINE 6 CABRILLO 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. CABRILLO CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF CABRILLO 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 ITS 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 ORGANIZATION'S PROCESS TO REVIEW FORM 990: THE RETURN PREPARER EMAILS A DRAFT OF THE FORM 990 TO A DESIGNATED OFFICER AND/OR THE CEO OF THE CREDIT UNION FOR REVIEW. THE DESIGNATED INDIVIDUALS REVIEW THE DRAFT AND PRESENT ANY QUESTIONS, COMMENTS OR CORRECTIONS TO THE RETURN PREPARER. UPON SATISFACTORY COMPLETION OF THE FORM 990, THE ORGANIZATION'S AUTHORIZED INDIVIDUAL SIGNS THE APPROPRIATE SIGNATURE FORMS TO AUTHORIZE THE ELECTRONIC FILING OF THE RETURN. A COPY OF THE FORM 990, AS FILED, IS PROVIDED BY THE RETURN PREPARER TO THE ORGANIZATION'S CEO OR OTHER DESIGNATED INDIVIDUALS. GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FINANCIALS ARE ALSO POSTED IN THE LOBBY; FINANCIALS AND OTHER INFORMATION ARE AVAILABLE ON THE NCUA WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION RECORDS ARE AVAILABLE AT THE CREDIT UNION MAIN OFFICES. FORM 990, PART XI, LINE 9: CECL TRANSITIONAL AMOUNT (AS DETERMINED UNDER 702.703(B)) 103,598. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.