2025-10-30T17:07:48-05:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 942407726 SANTA CRUZ COMMUNITY CREDIT UNION SANT 8314257708 55 RIVER STREET SANTA CRUZ CA 95060 ELIZABETH CARR CEO 8314257708 2025-10-29 1 1 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z ELIZABETH CARR 55 RIVER STREET SANTA CRUZ CA 95060 15151619 0 X WWW.SCCCU.ORG X CREDIT UNION 1977 CA A COMMUNITY DEVELOPMENT AND LOW INCOME CERTIFIED FINANCIAL COOPERATIVE ORGANIZED TO SERVE UNDERSERVED AND PROMOTE ECONOMIC EQUITY. 8 8 65 12 22106 0 0 0 10795025 11011351 674670 760489 1893405 3379779 13363100 15151619 73776 62884 0 0 5865841 6250848 0 0 0 6463977 7920465 12403594 14234197 959506 917422 191939988 186167119 174138843 167441254 17801145 18725865 X 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, SANTA CRUZ COMMUNITY 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. SANTA CRUZ COMMUNITY CREDIT UNION SERVES THE COMMUNITY AS A CERTIFIED CDFI AND LOW INCOME CREDIT UNION, ENSURING THAT THROUGH ECONOMIC JUSTICE MEASURES, ALL PEOPLE RECEIVE ASSISTANCE TO IMPROVE THEIR LIVES. 0 0 THE CREDIT UNION IS A COMMUNITY DEVELOPMENT, LOW-INCOME AND JUNTOS AVANZAMOS CERTIFIED CREDIT UNION PROVIDING LOW-COST, LIFE-CHANGING SERVICES, FINANCIAL LEARNING AND OPPORTUNITIES TO ITS LOCAL COMMUNITIES WITH A MISSION TO EMBRACE ECONOMIC JUSTICE AND TO PROVIDE FINANCIAL ACCESS AND OPPORTUNITIES TO ALL PEOPLE. ADDITIONALLY, THE CREDIT UNION'S MISSION INCLUDES SERVING THE UNBANKED AND UNDERSERVED, INCLUDING IMMIGRANTS WITH SPECIAL SERVICE NEEDS.SCCCU PROVIDES A VARIETY OF OPPORTUNITIES TO OUR MINORITY POPULATIONS INCLUDING CONSUMER, REAL ESTATE AND COMMERCIAL/SMALL AND MICRO-BUSINESS LENDING. SPECIFICALLY, THE CREDIT UNION OFFERS "PROYECTO HOGAR" HOME/MANUFACTURED HOME LOANS, NEW AND USED AUTO LOANS, MINORITY AND ITIN BUSINESS LOANS/LINES OF CREDIT, FIRST-TIME BORROWING PROGRAMS AND CREDIT BUILDER LOANS SUCH AS SAVINGS-SECURED CREDIT CARDS AND PERSONAL LOANS. THE CREDIT UNION PROVIDES BUSINESS LENDING AND COMMERCIAL LENDING PRODUCTS INCLUDING REAL ESTATE FIRST AND SECOND LOANS, COMMUNITY DEVELOPMENT AND GOVERNMENT-GUARANTEED LOANS SUCH AS SBA AND CAL COASTAL RURAL DEVELOPMENT SECURED-LOANS AND MICRO-BUSINESS LOANS. ADDITIONALLY, THE CREDIT UNION SERVES MANY MICRO AND SMALL BUSINESSES AND NONPROFITS LOCALLY, AS SANTA CRUZ COUNTY IS A COMMUNITY OF ENTREPRENEURIAL BUSINESSES AND NONPROFITS THAT OFTEN HAVE FEW OPTIONS AVAILABLE TO THEM FROM THE MAINSTREAM BANKING INDUSTRY. THE CREDIT UNION PROVIDES CONSUMER AND BUSINESS FINANCIAL PRODUCTS AND SERVICES GEARED TO SUPPORTING THE LOCAL COMMUNITY MEMBERS TO BE VIABLE AND SELF-SUFFICIENT IN THEIR FINANCIAL ENDEAVORS. SERVICES INCLUDING A VARIETY OF LOW AND NO-FEE CONSUMER AND BUSINESS CHECKING AND SAVINGS ACCOUNTS AS WELL AS IRA ACCOUNTS, MATRICULA CONSULAR, SECOND CHANCE CHECKING AND SAVINGS-SECURED LOANS THAT HAVE BEEN DESIGNED TO SERVE BOTH MODERATE AND LOW-INCOME COMMUNITY MEMBERS, OUR IMMIGRANT COMMUNITY AND THOSE LIVING IN STRUGGLING ECONOMIC AREAS. 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 0 0 0 0 1 1968 0 1 65 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X SYLVIA SANCHEZ CFO 8314602340 324 FRONT ST SANTA CRUZ CA 95060 MATT FARRELL CHAIRMAN 1.00 X 0 0 0 TAMMY PELSTRING BOARD TREASURER 1.00 X 0 0 0 PAZ PADILLA BOARD SECRETARY 1.00 X 0 0 0 AMI EBRIGHT BOARD MEMBER 1.00 X 0 0 0 SYLVIA REYES BOARD MEMBER 1.00 X 0 0 0 NED VAN VALKENBURGH BOARD MEMBER 1.00 X 0 0 0 JESSICA LENTH BOARD MEMBER 1.00 X 0 0 0 ELAINE JOHNSON BOARD MEMBER 1.00 X 0 0 0 LINDA BROWN SUPV CMTE CHAIR 1.00 X 0 0 0 SUZANNE MACLEAN SUPV CMTE MEMBER 1.00 X 0 0 0 CHUCK HAHN SUPV CMTE MEMBER 1.00 X 0 0 0 ELIZABETH CARR CEO 40.00 X 313542 0 212012 SYLVIA O SANCHEZ CFO 40.00 X 107276 0 12523 KATIE FAIRBAIRN CAO 40.00 X 202780 0 7730 PAUL BARENFUS CLO 40.00 X 195377 0 29548 JOSEPH L COFFMAN CTO 40.00 X 177488 0 14585 EDWARD CROSS JR CIO 40.00 X 161988 0 0 JESUS BERUMEN DIR OF CONSUMER REAL ESTATE 40.00 X 140923 0 38648 LAURA OWEN DIR OF COMM. OUTREACH LEARN 40.00 X 119630 0 14002 CHARLOTTE EGGLESTON DIR OF E SERVICES 40.00 X 110862 0 19026 CYNTHIA LOPEZ BSA / COMPLIANCE MANAGER 40.00 X 102022 0 11695 1631888 0 359769 10 0 1 0 SLATTER CONSTRUCTION INC 126 FERN STREET SANTA CRUZ CA 95060 BUILDING REMODEL SERVICES 639864 NIELSON STUDIOS PO BOX 5407 SANTA CRUZ CA 95063 LEASEHOLD IMPROVEMENTS SERVICES 349839 SOUTHWEST STRATEGIC MARKETING 6259 FAIRFAX COURT MAIDEN NC 28650 MARKETING/ ADVERTISING SERVICES 175562 3 INTEREST ON LOANS 522100 8918753 8918753 FEE INCOME 522100 1047171 1025065 22106 OTHER OPERATING INCOME 522100 1045427 1045427 11011351 760489 760489 OTHER NON-OPERATING INCOME 522100 3379779 3379779 3379779 15151619 15129513 22106 0 57784 5100 1631888 3185807 132865 937431 362857 124186 124763 354030 303831 2317901 68090 857089 31523 1835593 334624 187611 CREDIT LOSS EXPENSE 825358 MISCELLANEOUS OPERATING 368873 LOAN SERVICING EXPENSE 160834 OPERATING FEES 26159 14234197 3800570 2606633 15257594 14446326 18631 351735 448222 13113145 2334598 9496260 10778547 5313444 4924372 153983993 148816057 3736392 4128331 191939988 186167119 9685516 5706698 164453327 161734556 174138843 167441254 X 0 0 0 0 17801145 18725865 17801145 18725865 191939988 186167119 X 917422 7299 -1 X X 0 1 X 1 0 1400 1400 1400 1 CCUL - PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 1400 PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE TO PROMOTE TRADE INFORMATION PERTAINING TO CREDIT UNIONS. 1135953 1135953 2161704 48038 2113666 2418941 643011 1775930 1615584 1320012 295572 5780963 323537 5457426 10778547 ALL OTHER INVESTMENTS 763700 F LOANS & LEASES 144705800 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 1401242 C PAID IN CAPITAL AT CORP 445315 C DEPOSITS IN COMMERCIAL BANKS, S&LS, SAVINGS BANKS 1500000 C 148816057 MEMBER SHARES & DEPOSITS 160234556 SUBORDINATED DEBT 1500000 161734556 X 15142770 0 15142770 8849 8849 15151619 14225348 0 14225348 8849 8849 14234197 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 DECEMBER 31, 2024 AND 2023, 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. STATE TAXES, HOWEVER, ARE PAID ON INCOME EARNED BY THE CREDIT UNION IN CALIFORNIA. THE CREDIT UNION IS SUBJECT TO AND PAYS ALL STATE AND CITY TAXES ON GOODS AND SERVICES PURCHASED BY THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION BETWEEN REVENUE AND EXPENSES 6,749. RECLASSIFICATION OF SCHOLARSHIP BETWEEN REVENUE AND EXPENSES 2,100. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION BETWEEN REVENUE AND EXPENSES 6,749. RECLASSIFICATION OF SCHOLARSHIP BETWEEN REVENUE AND EXPENSES 2,100. 1 SENIORS COUNCIL OF SANTA CRUZ AND SAN BENITO COUNTIES 234 SANTA CRUZ AVENUE APTOS CA 95003 942662950 501(C)(3) 15000 0 FMV TO PROVIDE SERVICES TO SENIORS IN THE COUNTIES OF SANTA CRUZ AND SAN BENITO. PAJARO VALLEY SHELTER SERVICES 115 BRENNAN ST WATSONVILLE CA 95076 941393418 501(C)(3) 5167 0 FMV TO ASSIST HOMELESS WOMEN, CHILDREN, AND FAMILIES OBTAIN STABLE HOUSING THROUGH TEMPORARY SHELTER AND SERVICES. 2 0 COLLEGE SCHOLARSHIPS 11 5100 FMV X X X X 0 1 0 ELIZABETH CARR CEO 301542 0 0 0 12000 0 186479 0 25533 0 525554 0 0 0 KATIE FAIRBAIRN CAO 196780 0 0 0 6000 0 7730 0 0 0 210510 0 0 0 PAUL BARENFUS CLO 185702 0 0 0 9675 0 8006 0 21542 0 224925 0 0 0 JOSEPH L COFFMAN CTO 171488 0 0 0 6000 0 7184 0 7401 0 192073 0 0 0 EDWARD CROSS JR CIO 153988 0 2000 0 6000 0 0 0 0 0 161988 0 0 0 JESUS BERUMEN DIR OF CONSUMER REAL ESTATE 137878 0 0 0 3045 0 4443 0 34205 0 179571 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN WITH THE PRESIDENT/CEO. THE CREDIT UNION CONTRIBUTES 100% OF THE FUNDS TO THE PLAN. UNDER THE TERMS OF THE PLAN, THE PARTICIPANT IS ENTITLED TO SPECIFIED AMOUNTS IF THEY REMAIN EMPLOYED BY THE CREDIT UNION THROUGH SCHEDULED VESTING DATES. IF THE PARTICIPANT EXPERIENCES A SEPARATION FROM SERVICE AS DEFINED IN THE AGREEMENT, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE. THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE AS DEFINED IN THE AGREEMENT. THE DEFERRED COMPENSATION PAYABLE INCLUDED IN ACCRUED EXPENSES AND OTHER LIABILITIES WAS APPROXIMATELY $331,000 AND $157,000 AS OF DECEMBER 31, 2024 AND 2023, RESPECTIVELY. DEFERRED COMPENSATION EXPENSES, INCLUDED IN COMPENSATION AND BENEFITS NON-INTEREST EXPENSE, WERE APPROXIMATELY $175,000 AND $183,000 FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, RESPECTIVELY. IN 2023, THE SECOND SCHEDULED BENEFIT PAYMENT WAS MADE ACCORDING TO THE TERMS OF THE AGREEMENT. CYNTHIA LOPEZ HCE AUTO LOAN X 32500 18631 0 1 1 18631 FORM 990, PART VI, SECTION A, LINE 6 SANTA CRUZ COMMUNITY 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. SANTA CRUZ COMMUNITY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF SANTA CRUZ COMMUNITY 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 OF DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS FORM 990 PRIOR TO FILING. SUBSEQUENTLY A COPY OF THE FORM IS DISTRIBUTED TO THE SUPERVISORY COMMITTEE AND BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD AND MANAGEMENT REVIEW, UPDATE AND DISTRIBUTE THE CONFLICT OF INTEREST POLICY TO ALL STAFF AND VOLUNTEERS OF THE ORGANIZATION. THE MOST RECENT POLICY IS REVIEWED AND SIGNED BY ALL STAFF ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES AN INDEPENDENT THIRD PARTY COMPENSATION AND MANAGEMENT PERFORMANCE SYSTEM, HRN - COMPEASE, I-PERFORMEASE SOFTWARE. THE THIRD PARTY VENDOR AND SYSTEM INDEPENDENTLY GATHER CREDIT UNION COMPENSATION DATA BASED ON FIVE OBJECTIVE COMPENSABLE FACTORS AND THE DATA IS INPUT INTO OUR COMPENSATION SYSTEM. THE ANNUAL COMPENSATION DATA IS ALSO SHARED WITH THE BOARD AND ANNUAL COMPENSATION BUDGETS ARE REVIEWED AND AUTHORIZED BY THE BOARD. INTERNALLY, THE PERFORMANCE MANAGEMENT SOFTWARE DETERMINES ONE'S PERFORMANCE AND CORRESPONDING COMPENSATION LEVEL. THE CEO REVIEWS AND APPROVES ALL STAFF AND MANAGEMENT LEVEL COMPENSATION, AND THE BOARD OVERSEES AND AUTHORIZES THE CEO PERFORMANCE MANAGEMENT AND COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 SANTA CRUZ COMMUNITY CREDIT UNION HAS LOBBY SIGNAGE INDICATING THAT OUR GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING -1. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.