FORM 990, PART VI, SECTION A, LINE 6 |
THE ORGANIZATION IS OWNED BY MEMBERS. MEMBERSHIP IS AVAILABLE TO ANY AND ALL PERSONS WHO LIVE, REGULARY WORK, CURRENTLY ATTEND SCHOOL, OR CURRENTLY WORSHIP IN THE SEVEN COUNTIES OF SOUTHERN CALIFORNIA. |
FORM 990, PART VI, SECTION A, LINE 7A |
THE ORGANIZATION HAS MEMBERS WHO MAY ELECT THE GOVERNING BODY. EACH MEMBER HAS ONE VOTE TO ELECT THE MEMBERS FOR THE GOVERNING BODY OF THE ORGANIZATION. |
FORM 990, PART VI, SECTION A, LINE 7B |
AT THE END OF EACH TERM OF THE DIRECTORS, ELECTIONS ARE HELD AND BOARD DECISIONS REGARDING ELECTION OR REMOVAL OF DIRECTORS ARE VOTED ON BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. |
FORM 990, PART VI, SECTION B, LINE 11 |
THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY THE VP CONTROLLER, THE SVP CHIEF FINANCIAL OFFICER, THE EVP TECHNOLOGY AND FINANCE, AND THE CEO OF THE ORGANIZATION. THE RETURN THEN GOES THROUGH A FINAL REVIEW BY THE BOARD OF DIRECTORS BEFORE FINAL SUBMISSION. |
FORM 990, PART VI, SECTION B, LINE 12C |
THE POLICY IS ENFORCED AND MONITORED THROUGH OUR VARIOUS REPORTING MECHANISMS (ETHICS POINT, OPEN DOOR COMMUNICATION POLICY, WHICH INCLUDES RECOMMENDING THAT EMPLOYEES DISCUSS THE ISSUES WITH THEIR MANAGER, HUMAN RESOURCES, SENIOR MANAGEMENT OR THE CEO), WE ADDRESS THE ISSUE AND USE OUR POLICY FOR GUIDANCE, WHICH PROMOTES CONSISTENCY. |
FORM 990, PART VI, SECTION B, LINE 15 |
CEO'S COMPENSATION: WESCOM CREDIT UNION'S BOARD OF DIRECTORS PARTNERS WITH A THIRD PARTY VENDOR TO PERFORM REGULAR REVIEWS TO ENSURE THAT THE PRESIDENT/CEO'S SALARY AND TARGET INCENTIVE REMAIN IN AN APPROPRIATE RELATIONSHIP TO THE MARKET. OUR THIRD PARTY CONSULTANT EXAMINES THE CURRENT COMPENSATION MARKET THROUGH AN ANALYSIS WHICH INCLUDES A CREDIT UNION PEER GROUP BASED ON ASSET SIZE AND FINANCIAL PERFORMANCE. IN ADDITION, THE PRESIDENT/CEO'S SUPPLEMENTAL RETIREMENT ACCOUNT IS REVIEWED WITH THE BOARD TO EVALUATE INVESTMENT PERFORMANCE AND TO CONSIDER ANY PROGRAM ADJUSTMENTS THAT NEED TO BE MADE TO ENSURE THE PROGRAM REMAINS APPROPRIATE TO THE MARKET. THE BOARD APPROVES ALL CHANGES TO THE PRESIDENT/CEO'S COMPENSATION AND SUPPLEMENTAL RETIREMENT PLANS. FORM 990, PART VI, SECTION B, LINE 15B: EXECUTIVE TEAM (OTHER OFFICERS) AND OTHER KEY EMPLOYEES' COMPENSATION: WESCOM CREDIT UNION PARTNERS WITH A THIRD PARTY TO PERFORM A PERIODIC REVIEW TO ENSURE THAT THE EXECUTIVE AND STAFF TEAM MEMBERS' SALARY RANGES AND TARGET INCENTIVES REMAIN IN AN APPROPRIATE RELATIONSHIP WITH THE MARKET. OUR THIRD PARTY CONSULTANT EXAMINES THE CURRENT COMPENSATION MARKET THROUGH AN ANALYSIS WHICH INCLUDES A CREDIT UNION PEER GROUP BASED ON ASSET SIZE AND FINANCIAL PERFORMANCE. THE HR COMMITTEE OF THE BOARD REVIEWS THE INFORMATION AND PREPARES A RECOMMENDATION FOR THE BOARD OF DIRECTORS APPROVAL. |
FORM 990, PART VI, SECTION C, LINE 19 |
FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. REQUESTS REGARDING GOVERNING DOCUMENTS AND CONFLICT OF INTERESTS CAN BE SUBMITTED TO THE ORGANIZATION AND COPIES WILL BE PROVIDED UPON REQUEST. |
FORM 990, PART VIII, LINE 7A - 7C, COLUMN (I): |
PROCEEDS $1,163,962,481 BASIS $1,154,506,167 GAIN $9,456,314 |
FORM 990, PART IX, LINE 24E: |
OTHER NON-OPERATING EXPENSE $16,258 OPERATING FEES 231,325 ---------- TOTAL OTHER EXPENSES 247,583 |
FORM 990, PART XI, LINE 9: |
OTHER ADJUSTMENT TO RETAINED EARNINGS 1,000,000. |
FORM 990, PART XII, LINE 2C: |
THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SEE ATTACHED FORM 3115 FOR WESCOM CENTRAL CREDIT UNION (95-1288265). SEE ATTACHED FORMS 3115 FOR WESCOM FINANCIAL SERVICES, LLC EIN:(95-4853684), WESCOM RESOURCES GROUP, LLC EIN:(43-1966875), WESCOM INSURANCE SERVICES, LLC EIN:(95-4821865), WESCOM HOLDINGS, LLC EIN:(95-4889848), AND HALLMARK ASSOCIATES INSURANCE SERVICES, LLC EIN:(95-4800085). |