2024-11-12T15:19:36-06:00 2023-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2023-01-01 941276845 SILVERADO CREDIT UNION SILV 7079652483 PO BOX 330 ANGWIN CA 94508 DAN MADRID PRESIDENT/TREASURER 7079652483 2024-11-08 1 0 VALENTINO CREUS CPA P01054153 8189549700 2023 2024-10-15 13:58:12Z DAN MADRID PO BOX 330 ANGWIN CA 94508 2401261 0 X WWW.SILVERADOCU.COM X CREDIT UNION 1979 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS 7 7 19 9 3799 0 0 0 1440022 1598398 417354 797759 5430 5104 1862806 2401261 0 500 0 0 741828 771076 0 0 0 873147 977589 1614975 1749165 247831 652096 62733604 56458591 58497143 51572191 4236461 4886400 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, SILVERADO CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS 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 A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING SAVINGS ACCOUNTS, CHECKING ACCOUNTS, A HIGH-YIELD CHECKING ACCOUNT PRODUCT, A PREMIUM-RATE MONEY MARKET SAVINGS PRODUCT, AND CERTIFICATE SAVINGS ACCOUNTS. ACHIEVED SATISFACTORY RESULTS IN PROVIDING OUR MEMBERS WITH A BROAD ARRAY OF CONSUMER LOAN PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, RECREATIONAL VEHICLES, UNSECURED PERSONAL LINES OF CREDIT, VISA CARDS AND PLEDGE SHARE LOANS. ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 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 1 508 0 1 19 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 0 1 1 1 0 CA X X MARILYN VAN DOLSON PRESIDENTTREASURER 7079652483 PO BOX 330 ANGWIN CA 94508 JEFF VENESS CHAIRMAN 1.00 X 0 0 0 MICHAEL GRIMES VICE CHAIRMAN 1.00 X 0 0 0 SHERRILYN ROTH SECRETARY 1.00 X 0 0 0 CURTIS CHURCH BOARD MEMBER 1.00 X 0 0 0 GARY GALUSHA BOARD MEMBER 1.00 X 0 0 0 JAMES KENDRICK BOARD MEMBER 1.00 X 0 0 0 DANIEL MADRID SUPV CMTE CHAIRMAN 1.00 X 0 0 0 MARK PACINI SUPV CMTE MEMBER 1.00 X 0 0 0 AMANDA GRANADOS SUPV CMTE MEMBER 1.00 X 0 0 0 MARILYN VAN DOLSON PRESIDENT/TREASURER 40.00 X X 89185 0 9003 89185 0 9003 0 0 0 0 0 LOAN SERVICE REVENUE 522100 1397437 1393638 3799 FEE INCOME 522100 200961 200961 1598398 797759 797759 OTHER INCOME 522100 5104 5104 5104 2401261 2397462 3799 0 500 89185 531755 15000 79628 55508 37267 157688 17788 150360 127810 157408 30155 67106 18926 44060 MISC. OPERATING EXPENSE 99839 LOAN SERVICING EXPENSE 58749 OPERATING FEES 10433 1749165 581055 608137 13693153 5660230 70013 91900 1069762 994513 82977 75249 47911837 49655068 394569 368007 62733604 56458591 456886 252836 58040257 51319355 58497143 51572191 X 0 0 0 0 4236461 4886400 4236461 4886400 62733604 56458591 X 652096 -2157 X X 0 1 X 1 0 325603 277006 48597 699237 681272 17965 44922 36235 8687 75249 DEPOSITS IN COMMERCIAL BANKS 12655992 C LOANS AND LEASES 36425826 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 466311 C PAID IN CAPITAL AT CORP CUS 106939 C 49655068 TOTAL SHARES & DEPOSITS 51315564 ACCRUED DIVIDENDS AND INTEREST PAYABLE 3791 51319355 X 2401262 0 2401262 0 2401262 1749165 0 1749165 0 1749165 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THE CREDIT UNION IS A TAX-EXEMPT ENTITY UNDER INTERNAL REVENUE CODE 501(C)(14), BUT MAY BE SUBJECT TO TAXATION ON INCOME UNRELATED TO THE CREDIT UNION'S EXEMPT FUNCTION. STATE CHARTERED CREDIT UNIONS SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT TAXING AUTHORITIES CONSIDER UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NON-TAXABLE STATUS. THE CREDIT UNION HAS FILED UBIT RETURNS (990-T) IN THE PAST, WHICH HAS RESULTED IN NO INCOME TAXES PAID FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. FASB CODIFICATION TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED, AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES AN 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 POSITION ARE MORE-LIKELY-THAN-NOT "WHEN CHALLENGED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2023, AND 2022 MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. FORM 990, PART VI, SECTION A, LINE 6 SILVERADO 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. SILVERADO CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF SILVERADO 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 THE 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 EACH BOARD MEMBER RECEIVED A COMPLETED DRAFT OF THE FORM 990 FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12 THE BOARD, STAFF & MANAGEMENT OF THE ORGANIZATION REVIEW THE CONFLICT OF INTEREST POLICY AND ACKNOWLEDGE COMPLIANCE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING COMPENSATION FOR THE PRESIDENT IS REVIEWED AND COMPLETED BY THE BOARD, AND THE PROCESS OF DETERMINING COMPENSATION FOR OTHER EMPLOYEES IS THE SAME. THE CUNA SALARY SURVEY IS USED FOR COMPARABILITY FOR INDUSTRY STANDARDS AND REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST; THE FINANCIAL STATEMENTS FOR THE CREDIT UNION ARE AVAILABLE ON A MONTHLY BASIS & POSTED WITHIN THE BRANCH LOBBY. FINANCIAL STATMENTS ARE ALSO MADE AVAILABLE TO THE GOVERNING BOARD MEMBERS. FORM 990, PART XI, LINE 9: CALL REPORT VARIANCE -2,157. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.