2025-11-05T18:58:44-06:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 941276845 SILVERADO CREDIT UNION SILV 7079652483 PO BOX 330 ANGWIN CA 94508 DAN MADRID PRESIDENT/TREASURER 7079652483 2025-10-31 1 1 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z DAN MADRID PO BOX 330 ANGWIN CA 94508 2578113 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 21 9 3372 0 0 0 1598398 1819779 797759 753276 5104 5058 2401261 2578113 500 0 0 0 771076 917361 0 0 0 977589 1209349 1749165 2126710 652096 451403 56458591 57271784 51572191 51933980 4886400 5337804 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 1 407 0 1 21 1 1 1 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 DAN MADRID PRESIDENTTREASURER 7079652483 PO BOX 330 ANGWIN CA 94508 MICHAEL GRIMES CHAIRMAN 1.00 X 0 0 0 JEFF VENESS VICE CHAIRMAN 1.00 X 0 0 0 JULIE LEE BOARD MEMBER 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 AMANDA GRANADOS SUPV CMTE CHAIRMAN 1.00 X 0 0 0 MARK PACINI SUPV CMTE MEMBER 1.00 X 0 0 0 RAJ DHARAMAJ SUPV CMTE MEMBER 1.00 X 0 0 0 MARILYN VAN DOLSON PRESIDENT/TREASURER(FORMER) 40.00 X X 113873 0 4627 DANIEL MADRID PRESIDENT/TREASURER 40.00 X X 46563 0 736 160436 0 5363 1 0 0 0 0 LOAN SERVICE REVENUE 522100 1627164 1623792 3372 FEE INCOME 522100 192615 192615 1819779 753276 753276 OTHER INCOME 522100 5058 5058 5058 2578113 2574741 3372 0 160436 572282 37364 87626 59653 42100 43051 16219 157804 267089 167842 52241 228326 17445 47745 MISC. OPERATING EXPENSE 89734 LOAN SERVICING EXPENSE 60886 OPERATING FEES 9772 PROVISION FOR LOAN LOSS 9095 2126710 608137 550466 5660230 8834874 91900 86771 1126807 1016110 75249 110697 49655068 47369515 368007 319461 56458591 57271784 252836 211141 51319355 51722839 51572191 51933980 X 0 0 0 0 4886400 5337804 4886400 5337804 56458591 57271784 X 451403 1 X X 0 1 X 1 0 378995 287734 91261 702889 687994 14895 44923 40382 4541 110697 DEPOSITS IN COMMERCIAL BANKS 9180867 C LOANS AND LEASES 37671401 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 423675 C PAID IN CAPITAL AT CORP CUS 93572 C 47369515 TOTAL SHARES & DEPOSITS 51719278 ACCRUED DIVIDENDS AND INTEREST PAYABLE 3561 51722839 X 2578112 0 2578112 0 2578112 2126709 0 2126709 0 2126709 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION IS A STATE CHARTERED CREDIT UNION DESCRIBED IN THE INTERNAL REVENUE CODE (IRC) 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). 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 OR "WHEN EXAMINED" 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, 2024, AND 2023 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 1. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.