2024-10-23T16:02:50-05:00 2023-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2023-01-01 950615747 CALIFORNIA AGRIBUSINESS CREDIT UNION CALI 7146904865 6281 BEACH BLVD 87 BUENA PARK CA 90621 ANGEL HERNANDEZ CEO 7146904865 2024-10-21 1 1 VALENTINO CREUS CPA P01054153 8189549700 2023 2024-10-15 13:58:12Z ANGEL HERNANDEZ 6281 BEACH BLVD 87 BUENA PARK CA 90621 1169833 0 X WWW.CALAGCU.ORG X CREDIT UNION 1936 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 4 8 41 0 0 0 759426 873465 194704 296368 4000 0 958130 1169833 0 0 0 0 319399 309588 0 0 0 713669 816705 1033068 1126293 -74938 43540 27127087 25795154 25438803 23798216 1688284 1996938 X CALIFORNIA AGRIBUSINESS 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, CALIFORNIA AGRIBUSINESS 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 ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH AUTO AND UNSECURED LOANS. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS A CARD PLASTIC PROGRAM. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 394 0 1 4 1 0 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 1 1 1 1 1 0 CA X X ANGEL HERNANDEZ CEO 7146904865 6281 BEACH BLVD SUITE 87 BUENA PARK CA 90621 DANIEL J MCCARREL CHAIRPERSON 1.00 X 0 0 0 RICHARD MULLARD VICE-CHAIRPERSON 1.00 X 0 0 0 JODI MARTIN TREASURER 1.00 X 0 0 0 JAMES A TAYLOR SECRETARY 1.00 X 0 0 0 YUMAN PIRZADA BOARD MEMBER 1.00 X 0 0 0 MIGUEL CEA BOARD MEMBER 1.00 X 0 0 0 JAMES M FLECKENSTEIN BOARD MEMBER 1.00 X 0 0 0 VINAYAK VIJAYKUMAR SUPERVISORY COMMITTEE MEMB 1.00 X 0 0 0 ANGEL HERNANDEZ CEO 40.00 X 101000 0 13783 101000 0 13783 1 0 0 0 0 INTEREST ON LOANS 522100 618910 618910 OTHER OPERATING INCOME 522100 206966 206925 41 FEE INCOME 522100 47589 47589 873465 296368 296368 1169833 1169792 41 0 101000 131994 2467 53675 20452 4950 51462 25378 13188 306181 157748 100957 1331 122935 3247 1970 LOAN SERVICING EXPENSE 20533 OPERATING FEES 6066 MISC. OPERATING FEES 759 1126293 4233 16102 1352795 1238680 72029 56403 143467 138179 4955 5288 12005534 11317941 13331861 12733221 355680 427519 27127087 25795154 217599 209071 25221204 23589145 25438803 23798216 X 0 0 0 0 1688284 1996938 1688284 1996938 27127087 25795154 X 43540 292407 -27293 X X 0 1 X 1 0 7255 7255 0 136212 130924 5288 5288 NET LOANS AND LEASES 12443565 F NCUA SHARE INSURANCE DEPOSIT 248636 C PAID IN CAPITAL IN CORP CUS 41020 C 12733221 TOTAL SHARES AND DEPOSITS 23589145 23589145 X PART X, LINE 2: 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 SEPTEMBER 30, 2022, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X X 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 CALIFORNIA AGRIBUSINESS 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. CALIFORNIA AGRIBUSINESS CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF CALIFORNIA AGRIBUSINESS 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 PRESCIBED 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 ELECTED 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 FORM 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS WHO WILL DISCUSS AND REVIEW THE FORMS AND RECOMMEND MODIFICATIONS IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD AND SUPERVISORY COMMITTEE REVIEW ANY RELATED ACCOUNTS THROUGH AN EXTERNAL AUDIT FIRM TO ENSURE THAT ALL ACCOUNTS ARE TREATED EQUALLY AND THERE IS NO FAVORITISM. ADDITIONALLY, ALL BOARD MEMBERS ABSTAIN FROM LOAN APPROVALS ON MEMBERS WITH WHOM THEY KNOW. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE BOARD DETERMINES THE COMPENSATION OF ITS PRESIDENT/CEO THROUGH COMPARABLE SALARY SURVEYS AND EVALUATION OF THE UNIQUE SKILL SET AND QUALITIES THAT THE INDIVIDUAL BRINGS TO THE CREDIT UNION. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC AS REQUESTED IN WRITING OR ORALLY. FORM 990, PART XI, LINE 9: CECL TRANSITIONAL AMOUNT (AS DETERMINED UNDER 702.703(B)) -27,293. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.