FORM 990, PART IV, LINE 26 - LOANS TO AND /OR FROM INTERESTED PERSONS: |
SOME OF THE OFFICERS, DIRECTORS AND KEY EMPLOYEES HAVE LOANS OUTSTANDING FROM THE CREDIT UNION. THESE LOANS WERE OBTAINED IN THE ORDINARY COURSE OF BUSINESS OF THE CREDIT UNION ON THE SAME TERMS AVAILABLE TO ALL MEMBERS. BASED ON THE SCHEDULE L INSTRUCTIONS, THESE LOANS ARE NOT DISCLOSED. |
FORM 990, PART VI, SECTION A, LINE 6 |
PATELCO CREDIT UNION IS A STATE-CHARTERED CREDIT UNION ORGANIZED UNDER THE PROVISIONS OF THE CALIFORNIA CREDIT UNION ACT. MEMBERSHIP IN THE CREDIT UNION IS LIMITED TO THOSE INDIVIDUALS THAT QUALIFY FOR MEMBERSHIP, INCLUDING EMPLOYEES OF AT&T, WALGREENS AND OTHER SPECIFIC EMPLOYER SPONSORS, AND INDIVIDUALS WHO LIVE, WORK, OR WORSHIP IN ONE OF A SPECIFIC GROUP OF CITIES IN NORTHERN CALIFORNIA. THE FIELD OF MEMBERSHIP IS DEFINED BY THE CREDIT UNION BYLAWS. |
FORM 990, PART VI, SECTION A, LINE 7A |
THE CREDIT UNION MEMBERS ELECT BOARD OF DIRECTORS WITH VARIED TERMS AT AN ANNUAL MEETING HELD EACH YEAR. |
FORM 990, PART VI, SECTION A, LINE 7B |
THE CREDIT UNION MEMBERS ELECT BOARD OF DIRECTORS WITH VARIED TERMS AT AN ANNUAL MEETING HELD EACH YEAR. |
FORM 990, PART VI, SECTION B, LINE 11B |
FORM 990 IS REVIEWED BY THE CFO AND THE CHAIRPERSON OF THE FINANCE COMMITTEE. IT IS ALSO AVAILABLE TO ALL BOARD MEMBERS FOR REVIEW PRIOR FILING WITH THE IRS. |
FORM 990, PART VI, SECTION B, LINE 12C |
ALL EMPLOYEES AND OFFICIALS ARE SUBJECTS TO CREDIT UNION CONFLICT OF INTEREST POLICIES. VIOLATIONS COULD BE SUBJECT TO DISCRIPLINARY ACTION. ALL IN-HOUSE ACCOUNTS HELD WITH THE CREDIT UNION ARE SUBJECT TO INTERNAL REVIEW. |
FORM 990, PART VI, SECTION B, LINE 15 |
ALL MANAGEMENT POSITIONS HAVE COMPENSATION SET BY THE POLICIES AND GUIDELINES APPROVED BY BOARD OF DIRECTORS OR CEO. |
FORM 990, PART VI, SECTION C, LINE 19 |
THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSING THEM IN EACH OF ITS RETAIL BRANCHES. ITS ANNUAL REPORTS AND FINANCIAL STATEMENTS ARE POSTED ON THE PATELCO CREDIT UNION'S WEBSITE AT WWW.PATELCO.ORG. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE TO THE MEMBERS UPON REQUEST IN WRITING. |
FORM 990, PART XI, LINE 9: |
CHANGE IN OTHER COMPREHENSIVE INCOME -26,701. |
2C |
THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS OF PATELCO CREDIT UNION DURING THE TAX YEAR 2018. |
FORM 990 ITEM B |
THE CEO'S DEFERRED COMPENSATION REPORTED ON SCHEDULE J PAGE 2 COLUMN C WAS CORRECTED TO $40,500. THE PERVIOUS AMOUNT CONTAINED INCORRECT INFORMATION WHICH WAS MISTAKENLY INCLUDED DUE TO A MISUNDERSTANDING BETWEEN THE CREDIT UNION & THE TAX PREPARERS. |