2025-11-12T16:14:36-07:00 2024-12-31 990 2024-01-01 951679450 MY POINT CREDIT UNION MYPO 8584953400 9420 Farnham Street San Diego CA 92123 Simeon Tabakov CFO 8584953400 2025-11-06 1 2024 2025-03-06 01:10:19Z MyPoint Credit Union 9420 Farnham Street San Diego CA 92123 30712664 0 X www.mypointcu.com X Credit Union 1948 CA MyPoint Credit Union provides its members with higher saving dividends, enhanced services, lower loan rates, and reduced service fees. 7 5 125 12 0 0 0 0 28485147 30712664 0 0 0 0 28485147 30712664 0 0 0 0 12842821 12456636 0 0 0 14783874 17226075 27626695 29682711 858452 1029953 657682402 650872505 601943730 594103881 55738672 56768624 We are committed to working together to help our members achieve their financial goals, while being financially prudent to assure safety and soundness. 0 0 MyPoint Credit Union provides its membership competitively priced deposit products. As of 12/31/24, the credit union held 31,255 savings accounts, 21,256 checking accounts, 3,067 money market accounts, 3,788 share certificates, and 1,241 IRA certificates in the amount of $132,571,203, $174,017,168, $69,624,470, $166,618,876 and $13,261,555respectively. In total, the credit union held 60,607, accounts in the amount of $556,093,272 with a membership of 27,340 MyPoint Credit Union provides its membership competitive consumer loan programs including vehicle loans, unsecured loans, and a business loan program to help our local small businesses. The credit union funded 2,370 new loans in the amount of $120,283,399 As of 12/31/2024, the credit union held 15,211 consumer and business loans in the amount of $253,266,938. MyPoint Credit Union offers a competitive mortgage loan program to make home ownership more affordable to its membership. In 2024, the credit union funded new real estate loans including 1st and 2nd trust deed mortgages and home equity lines of credit, in the amount of $82,830,504. As of 12/31/24, the credit union held the total of 1,773real estate loans in the amount of $262,340,441 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6281 0 125 1 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 1 1 0 1 1 0 1 1 0 1 0 0 1 1 1 0 0 CA X MyPoint Credit Union 8584953400 9420 Farnham Street San Diego CA 92123 David R Brooke President/CEO 40 X 543879 0 6000 Matthew Rhead CEO 40 X 480211 0 41532 Matthew Mower SVP/CIO 40 X 354433 0 37513 Peter Butler SVP/COO 40 X 345052 0 33622 Christopher Crockett VP/Retail Operations 40 X 249296 0 21419 Janet Mainenti VP/HR 40 X 255365 0 13837 Laura Carpanzano Director of Business Lending 40 X 236196 0 30531 Nicole Henderson Controller 40 X 187965 0 37682 Scott Norris VP/Marketing 40 X 194402 0 28553 Pey-Shiuan Zavala IT Director 40 X 198754 0 11092 Stephen Wallis Director of Internal Audit 40 X 173706 0 16742 Deborah Clow Project Manager 40 X 158356 0 27581 Michael Kim VP/Lending 40 X 155948 0 24372 Andrea Johnson Director of Member Support Services 40 X 157172 0 7790 Simeon Tabakov CFO 40 X 50955 0 843 Jeffrey M Goecke Vice Chair 10 0 X 0 0 0 Mark R Moeller Treasurer 10 0 X 0 0 0 Jane M White Chair 10 0 X 0 0 0 Linda O Stay Secretary 10 X 0 0 0 Jo Anna Lamott Director 10 0 X 0 0 0 Salvatore J Lupo Director 10 X 0 0 0 Bryan T Hill Director 10 X 0 0 0 3741690 0 339109 20 1 1 0 20 0 Interest from Loans 522130 22400758 22400758 0 0 Fee Income 522130 4276755 4276755 0 0 Investment Income 522130 3353712 3353712 0 0 Non-Operating Gain 522130 681439 681439 0 0 0 0 0 0 30712664 0 0 0 0 0 30712664 30712664 0 0 0 0 0 0 4079955 0 6430052 404582 761460 780587 296037 35045 45795 0 0 0 524619 670276 2483512 0 1044084 20346 0 232983 464155 0 1188271 156449 Dividend to Members 6595619 Provision for Loan Loss 691698 Operation Expense 2488973 288213 29682711 0 0 0 30507297 12178154 0 0 0 0 9653623 11877974 0 0 0 0 474277211 513751399 0 2865775 2670078 20740190 14114568 6727424 6625622 0 0 0 0 119195715 89899736 0 0 14455357 13869542 657682402 650872505 24726430 28609068 0 0 0 0 0 0 421647 554907 576795653 564939906 601943730 594103881 X 0 0 0 0 55738672 56768624 55738672 56768624 657682402 650872505 1029953 -1 X 0 1 X 1 0 1 220901 4634969 4643557 212313 1 X 0 1715651 1715651 0 6034691 3536509 2498182 0 1737927 928221 809706 0 11251921 9649838 1602083 0 0 0 0 6625622 GSE bonds 89899736 C 89899736 member shares 564939906 564939906 30712664 0 0 0 0 0 30712664 0 0 0 30712664 29682711 0 0 0 0 0 29682711 0 0 0 29682711 Schedule D, Part IV, Line 1b Schedule D, Part IV, Line 1b - The credit union sold some of its mortgage loans to Fannie Mae, but continues to provide loan servicing. Schedule D, Part IV, Line 2b The credit union collects funds from certain members with mortgage loans who opt for the establishment of escrow accounts. The funds are disbursed to pay property taxes and insurance premiums on behalf of the members. Schedule D, Part VI, Line 1b Schedule D, Part IV, Line 1b - The credit union sold some of its mortgage loans to Fannie Mae, but continues to provide loan servicing. The mortgage payments are collected from the members and held in the custodial accounts until Fannie Mae transfers the funds. Schedule D, Part VIII The credit union sold some of its mortgage loans to Fannie Mae but continues to provide loan servicing. The mortgage payments are collected from the members and held in the custodial accounts until Fannie Mae transfers the funds. X 1 1 X 0 0 0 Matthew Rhead SVP/CFO 407460 0 54956 0 17794 0 16389 0 25143 0 521742 0 0 Matthew Mower SVP/CIO 312675 0 25340 0 16418 0 14957 0 22556 0 391946 0 0 0 Peter Butler SVP/COO 309854 0 25279 0 9918 0 14923 0 18699 0 378673 0 0 0 Janet Mainenti VP/HR 235484 0 15741 0 4140 0 11062 0 2775 0 269202 0 0 Laura Carpanzano Director of Business Lending 222051 0 14145 0 0 0 10827 0 19705 0 266728 0 0 0 Nicole Henderson Controller 176418 0 11547 0 0 0 8904 0 28778 0 225647 0 0 0 Pey-Shiuan Zavala IT Director 187202 0 11552 0 0 0 8946 0 2246 0 209946 0 0 0 Stephen Wallis Director of Internal Audit 154012 0 10091 0 9603 0 7224 0 9517 0 190447 0 0 0 Scott Norris VP/Marketing 178171 0 12091 0 4140 0 8636 0 19916 0 222954 0 0 0 Michael Kim VP/Lending 137742 0 15819 0 2388 0 6523 0 17948 0 180420 0 0 0 Simeon Tabakov CFO 49047 0 0 0 1908 0 0 0 843 0 51798 0 0 0 Schedule J, Part I, Line 1a Officials are reimbursed for their business expenses including those of one spouse/guest. Reimbursement will be for all reasonable expenses (i.e. travel, meals, lodging, and conference registration) in compliance with the Internal Revenue Service Code and credit union rules and regulations. Schedule J, Part I, Line 1b Officials are reimbursed for their business expenses including those of one spouse/guest. Reimbursement will be for all reasonable expenses (i.e. travel, meals, lodging, and conference registration) in compliance with the Internal Revenue Service Code and credit union rules and regulations. Form 990, Part VI, Section A, Line 6 MyPoint Credit Union is owned by its members. Form 990, Part VI, Section A, Line 7a The credit union members elect the 7-member Board of Directors. Form 990, Part VI, Section B, Line 11b Form 990 was prepared by the Controller and reviewed for accuracy by the CFO. Form 990, Part VI, Section B, Line 15 Upon analysis and recommendation of Executive Compensation Committee, the Board of Directors determines compensation of the CEO based on comparability data and performance evaluation. Contemporaneous minutes are recorded or Executive Compensation Committee and Board of Directors meetings during which CEO compensation is addressed. It's conducted annually. Form 990, Part VI, Section C, Line 19 Upon request. The late filing of Form 990 was due to unexpected personnel changes and a temporary shortage of staff.