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Nonprofiteer
← THE GOLDEN 1 CREDIT UNION

Form 990 for tax year 2022

Filed by THE GOLDEN 1 CREDIT UNION.

Totals

Total revenue
$628,951,060
Total expenses
$504,386,598
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$395,399,377
Investment income
$121,448,152
Other revenue
$112,103,531
Total assets, end of year
$18,481,868,090
Total liabilities, end of year
$17,128,619,639
Net assets or fund balances, end of year
$1,353,248,451
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST INCOME - LOAN

    total $395,399,377 · related or exempt $364,723,338 · unrelated business $30,676,039

  • 3 · Investment income

    total $121,127,485 · related or exempt $121,127,485

  • 7a · Gross sales of assets other than inventory

    securities $129,705,000 · other assets $396,673,000

  • 7b · Less cost or other basis and sales expenses

    securities $128,047,126 · other assets $398,010,207

  • 7c · Gain or loss

    securities $1,657,874 · other assets -$1,337,207

  • 7d · Net gain or loss

    total $320,667 · related or exempt $320,667

  • 11a · Other revenue: CHECKING ACCOUNTS FEE

    total $29,768,686 · related or exempt $29,768,686

  • 11b · Other revenue: DEBIT CARD INCOME

    total $29,621,265 · related or exempt $29,621,265

  • 11c · Other revenue: STAR NETWORK FEE INCOM

    total $22,214,865 · related or exempt $22,214,865

  • 11d · All other revenue

    total $30,498,715 · related or exempt $19,496,747 · unrelated business $11,001,968

  • 11e · Other revenue, total

    $112,103,531

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $13,778,173

  • 7 · Other salaries and wages

    total $142,091,646

  • 8 · Pension plan contributions

    total $13,900,301

  • 9 · Other employee benefits

    total $20,647,697

  • 10 · Payroll taxes

    total $11,773,228

  • 11b · Fees: legal

    total $4,740,951

  • 11c · Fees: accounting

    total $737,710

  • 11g · Fees: other

    total $11,780,481

  • 12 · Advertising and promotion

    total $18,186,847

  • 13 · Office expenses

    total $17,664,122

  • 14 · Information technology

    total $18,955,826

  • 16 · Occupancy

    total $20,025,632

  • 17 · Travel

    total $605,997

  • 19 · Conferences, conventions and meetings

    total $1,315,745

  • 20 · Interest

    total $31,024,761

  • 22 · Depreciation, depletion and amortization

    total $23,922,899

  • 23 · Insurance

    total $830,439

  • 24a · Other expenses: DISBURSEMENTS TO MEMBER

    total $45,398,068

  • 24b · Other expenses: PRODUCT SERVICES

    total $31,142,672

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $29,837,671

  • 24d · Other expenses: ATM EXPENSES

    total $21,915,911

  • 24e · All other expenses

    total $24,109,821

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $146,952,057 · end of year $160,120,547

  • 4 · Accounts receivable

    beginning of year $1,527,226,544 · end of year $249,235,198

  • 5 · Loans and receivables from officers and key people

    beginning of year $16,971,887 · end of year $16,515,323

  • 7 · Other notes and loans receivable

    beginning of year $9,344,239,107 · end of year $12,328,660,156

  • 10a · Land, buildings and equipment: cost or other basis

    $219,556,270

  • 10b · Land, buildings and equipment: accumulated depreciation

    $146,229,659

  • 10c · Land, buildings and equipment, net

    beginning of year $82,433,691 · end of year $73,326,611

  • 12 · Investments: other securities

    beginning of year $6,455,065,954 · end of year $4,790,403,889

  • 15 · Other assets

    beginning of year $758,798,045 · end of year $863,606,366

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,769,767 · end of year $6,605,211

  • 25 · Other liabilities

    beginning of year $16,647,034,203 · end of year $17,122,014,428

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,681,883,315 · end of year $1,353,248,451

Mission and programs · 2022

Mission

THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE TO OUR MEMBERS. THE PURPOSE OF THE CORPORATION IS TO ENGAGE IN CREDIT UNION BUSINESS AND ANY OTHER LAWFUL ACTIVITIES WHICH ARE NOT PROHIBITED TO A CREDIT UNION BY APPLICABLE LAWS OR REGULATIONS.

Activities or mission (Part I)

THE GOLDEN 1 CREDIT UNION DELIVERS FINANCIAL SOLUTIONS WITH VALUE, CONVENIENCE, AND EXCEPTIONAL SERVICE TO OUR MEMBERS.

  • GOLDEN 1 OFFERS AN ARRAY OF DEPOSIT PRODUCTS TO OUR MEMBERSHIP, INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRAS AND CERTIFICATES. WHILE EARNING COMPETITIVE DIVIDEND RATES, OUR MEMBERSHIP CAN ACCESS THEIR DEPOSITS THROUGH OUR BRANCH NETWORK, VIA AN ATM, ONLINE OR BY CALLING OUR MEMBER SERVICE CONTACT CENTER.

  • GOLDEN 1 OFFERS AN ARRAY OF COMPETITIVE LOAN OPTIONS TO OUR MEMBERSHIP, INCLUDING NEW AND USED AUTO, FIRST MORTGAGE, HOME EQUITY, CREDIT CARD AND PERSONAL LOANS. GOLDEN 1 STRIVES TO MAINTAIN COMPETITIVE PRICING AND A VARIETY OF LOAN PRODUCTS THAT MEET OUR MEMBER'S BORROWING NEEDS. MEMBERS CAN APPLY FOR LOANS IN A BRANCH, ONLINE, OR AT AN AUTO DEALERSHIP.

  • GOLDEN 1 OFFERS OUR MEMBERS AN ARRAY OF INSURANCE AND INVESTMENT-RELATED PRODUCTS SUCH AS CREDIT LIFE/CREDIT DISABILITY, MECHANICAL BREAKDOWN INSURANCE, GUARANTEED ASSET PROTECTION ANDFINANCIAL CONSULTING.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Keri L Thomas

    DIRECTOR, CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Aeisha Mastagni

    DIRECTOR, VICE CHAIR

    Total calculated
    $0
    Hours/week
    6

  • P Craig Cornett

    DIRECTOR, SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    6

  • Keeley Bosler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Ting Lan Sun

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Cassandra Jennings

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Samantha Lui

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Paris Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Craig Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Donna Bland

    PRESIDENT/CEO

    Total calculated
    $1,104,964
    From this org
    $1,065,312
    From related orgs
    $0
    Other
    $39,652
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $716,717
    Bonus
    $290,639
    Other
    $57,956
    Deferred
    $18,300
    Nontaxable benefits
    $21,352
    Filer's total
    $1,104,964

  • Richard Musci

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $579,229
    From this org
    $544,966
    From related orgs
    $0
    Other
    $34,263
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $358,343
    Bonus
    $107,861
    Other
    $78,762
    Deferred
    $18,300
    Nontaxable benefits
    $15,963
    Filer's total
    $579,229

  • Dustin Luton

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $556,494
    From this org
    $515,299
    From related orgs
    $0
    Other
    $41,195
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $357,270
    Bonus
    $107,961
    Other
    $50,068
    Deferred
    $18,300
    Nontaxable benefits
    $22,895
    Filer's total
    $556,494

  • Allyson Hill

    SVP/CHIEF FINANCIAL OFFICER

    Total calculated
    $429,343
    From this org
    $411,043
    From related orgs
    $0
    Other
    $18,300
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $287,133
    Bonus
    $63,719
    Other
    $60,191
    Deferred
    $18,300
    Nontaxable benefits
    $0
    Filer's total
    $429,343

  • Courtney Linn

    SVP/GENERAL COUNSEL

    Total calculated
    $440,941
    From this org
    $387,347
    From related orgs
    $0
    Other
    $53,594
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $277,320
    Bonus
    $59,439
    Other
    $50,588
    Deferred
    $18,300
    Nontaxable benefits
    $35,294
    Filer's total
    $440,941

  • Heather Andrade-Neumann

    SVP/CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $390,026
    From this org
    $370,456
    From related orgs
    $0
    Other
    $19,570
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $259,324
    Bonus
    $56,213
    Other
    $54,919
    Deferred
    $18,300
    Nontaxable benefits
    $1,270
    Filer's total
    $390,026

  • Revati Rao

    SVP/LENDING

    Total calculated
    $415,491
    From this org
    $364,894
    From related orgs
    $0
    Other
    $50,597
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $269,485
    Bonus
    $66,999
    Other
    $28,410
    Deferred
    $18,300
    Nontaxable benefits
    $32,297
    Filer's total
    $415,491

  • Steven S Knighton

    SVP/HEAD OF BUSINESS AND FINANCIAL SERVICES

    Total calculated
    $366,598
    From this org
    $325,403
    From related orgs
    $0
    Other
    $41,195
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $233,622
    Bonus
    $43,356
    Other
    $48,425
    Deferred
    $18,300
    Nontaxable benefits
    $22,895
    Filer's total
    $366,598

  • Chad Carrington

    SVP/CHIEF INFORMATION OFFICER

    Total calculated
    $327,399
    From this org
    $307,851
    From related orgs
    $0
    Other
    $19,548
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $225,187
    Bonus
    $42,185
    Other
    $40,479
    Deferred
    $18,300
    Nontaxable benefits
    $1,248
    Filer's total
    $327,399

  • Douglas Aguiar

    SVP/CHIEF MARKETING OFFICER

    Total calculated
    $349,058
    From this org
    $306,589
    From related orgs
    $0
    Other
    $42,469
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $204,750
    Bonus
    $49,924
    Other
    $51,915
    Deferred
    $18,300
    Nontaxable benefits
    $24,169
    Filer's total
    $349,058

  • Alphonso Cosby

    SVP/RETAIL OFFICER

    Total calculated
    $346,350
    From this org
    $292,791
    From related orgs
    $0
    Other
    $53,559
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $221,873
    Bonus
    $40,820
    Other
    $30,098
    Deferred
    $18,265
    Nontaxable benefits
    $35,294
    Filer's total
    $346,350

  • Evgeniy Tkachuk

    SVP/CHIEF DIGITAL OFFICER

    Total calculated
    $222,525
    From this org
    $205,593
    From related orgs
    $0
    Other
    $16,932
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $115,246
    Bonus
    $45,000
    Other
    $45,347
    Deferred
    $6,669
    Nontaxable benefits
    $10,263
    Filer's total
    $222,525

  • Joseph Harrison

    VP - COMPLIANCE OFFICER

    Total calculated
    $279,196
    From this org
    $241,392
    From related orgs
    $0
    Other
    $37,804
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $185,143
    Bonus
    $36,568
    Other
    $19,681
    Deferred
    $14,909
    Nontaxable benefits
    $22,895
    Filer's total
    $279,196

  • Joseph Niehaus

    VP - FINANCE/INVESTMENT OFFICER

    Total calculated
    $256,959
    From this org
    $231,628
    From related orgs
    $0
    Other
    $25,331
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $177,616
    Bonus
    $33,159
    Other
    $20,853
    Deferred
    $14,140
    Nontaxable benefits
    $11,191
    Filer's total
    $256,959

  • Joleen Ayers

    VP - ENTERPRISE RISK OFFICER

    Total calculated
    $267,667
    From this org
    $223,362
    From related orgs
    $0
    Other
    $44,305
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $170,870
    Bonus
    $35,437
    Other
    $17,055
    Deferred
    $14,269
    Nontaxable benefits
    $30,036
    Filer's total
    $267,667

  • Alan Russell

    HOME LOAN ADVISOR - EXTERNAL

    Total calculated
    $1,242,648
    From this org
    $1,197,568
    From related orgs
    $0
    Other
    $45,080
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $102,241
    Bonus
    $1,055,322
    Other
    $40,005
    Deferred
    $18,300
    Nontaxable benefits
    $26,780
    Filer's total
    $1,242,648

  • Yen Pham

    HOME LOAN ADVISOR - EXTERNAL

    Total calculated
    $1,167,696
    From this org
    $1,133,607
    From related orgs
    $0
    Other
    $34,089
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $50,565
    Bonus
    $1,059,778
    Other
    $23,264
    Deferred
    $18,300
    Nontaxable benefits
    $15,789
    Filer's total
    $1,167,696

  • Channing E Yip

    HOME LOAN ADVISOR - EXTERNAL

    Total calculated
    $984,960
    From this org
    $964,605
    From related orgs
    $0
    Other
    $20,355
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $53,482
    Bonus
    $890,613
    Other
    $20,510
    Deferred
    $18,300
    Nontaxable benefits
    $2,055
    Filer's total
    $984,960

  • Kevin Cavanaugh

    MGR - EXTERNAL HL PRODUCTION

    Total calculated
    $948,701
    From this org
    $900,364
    From related orgs
    $0
    Other
    $48,337
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $33,066
    Bonus
    $835,396
    Other
    $31,902
    Deferred
    $18,300
    Nontaxable benefits
    $30,037
    Filer's total
    $948,701

  • Deborah Merchain

    HOME LOAN ADVISOR - EXTERNAL

    Total calculated
    $885,245
    From this org
    $855,583
    From related orgs
    $0
    Other
    $29,662
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $48,326
    Bonus
    $765,452
    Other
    $41,805
    Deferred
    $18,300
    Nontaxable benefits
    $11,362
    Filer's total
    $885,245

  • Tommy Genessy

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $338,134
    From this org
    $329,652
    From related orgs
    $0
    Other
    $8,482
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $6,229
    Bonus
    $202,228
    Other
    $121,195
    Deferred
    $3,173
    Nontaxable benefits
    $5,309
    Filer's total
    $338,134

  • Lixa M Anderson

    VP - ENTERPRISE APPLICATIONS

    Total calculated
    $328,267
    From this org
    $293,722
    From related orgs
    $0
    Other
    $34,545
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,589
    Bonus
    $105,840
    Other
    $20,293
    Deferred
    $13,082
    Nontaxable benefits
    $21,463
    Filer's total
    $328,267

  • Kathy Flynn

    SVP - SERVICE OPERATIONS

    Total calculated
    $272,580
    From this org
    $252,464
    From related orgs
    $0
    Other
    $20,116
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,311
    Bonus
    $47,622
    Other
    $44,531
    Deferred
    $13,417
    Nontaxable benefits
    $6,699
    Filer's total
    $272,580

  • Mollyanna Mallinson

    VP - ENTERPRISE PROJECT SERVICES

    Total calculated
    $242,246
    From this org
    $230,640
    From related orgs
    $0
    Other
    $11,606
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $39,631
    Bonus
    $148,936
    Other
    $42,073
    Deferred
    $5,553
    Nontaxable benefits
    $6,053
    Filer's total
    $242,246

  • Shannon Avrett

    VP - CONTROLLER

    Total calculated
    $242,955
    From this org
    $222,726
    From related orgs
    $0
    Other
    $20,229
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,495
    Bonus
    $36,323
    Other
    $36,908
    Deferred
    $11,895
    Nontaxable benefits
    $8,334
    Filer's total
    $242,955

  • Rhotunda Conda

    VP - HUMAN RESOURCES

    Total calculated
    $248,887
    From this org
    $221,013
    From related orgs
    $0
    Other
    $27,874
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,831
    Bonus
    $34,451
    Other
    $46,731
    Deferred
    $11,187
    Nontaxable benefits
    $16,687
    Filer's total
    $248,887

  • Jason Levingston

    SVP - CHIEF TECHNOLOGY OFFICER

    Total calculated
    $234,503
    From this org
    $204,391
    From related orgs
    $0
    Other
    $30,112
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $116,195
    Bonus
    $50,882
    Other
    $37,314
    Deferred
    $11,811
    Nontaxable benefits
    $18,301
    Filer's total
    $234,503

  • Carolyn Pena

    VP - STRATEGY AND INNOVATION

    Total calculated
    $166,183
    From this org
    $142,812
    From related orgs
    $0
    Other
    $23,371
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $77,732
    Bonus
    $33,701
    Other
    $31,379
    Deferred
    $7,897
    Nontaxable benefits
    $15,474
    Filer's total
    $166,183

  • David Noren

    VP - REGIONAL BR CHAN DELIV

    Total calculated
    $142,928
    From this org
    $131,035
    From related orgs
    $0
    Other
    $11,893
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $18,500
    Bonus
    $33,491
    Other
    $79,044
    Deferred
    $5,914
    Nontaxable benefits
    $5,979
    Filer's total
    $142,928

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 1A
THE CREDIT UNION WILL REIMBURSE A DIRECTOR FOR REASONABLE ACTUAL EXPENSES INCURRED IN CONNECTION WITH ATTENDING APPROVED CONFERENCES, SEMINARS, AND OTHER BUSINESS FUNCTIONS. REIMBURSEMENT MAY INCLUDE EXPENSES FOR ONE IMMEDIATE FAMILY MEMBER TO FACILITATE TRAVEL TO AND FROM SUCH EVENT PER GOLDEN 1'S BOARD TRAVEL POLICY. FORM 990, SCHEDULE J, PART I, LINE 4A ONE EXECUTIVE VICE PRESIDENT AND TWO VICE PRESIDENTS RECEIVED SEVERANCE PAYMENTS DURING 2022. FORM 990, SCHEDULE J, PART I, LINE 4B DONNA BLAND, PRESIDENT AND CEO, AND THREE EXECUTIVE VICE PRESIDENTS PARTICIPATE IN A SPLIT DOLLAR LIFE INSURANCE PLAN AS APPROVED BY THE BOARD OF DIRECTORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202323009349301327

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