2025-11-14T12:16:25-06:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 946093763 UPWARD CREDIT UNION FKA UNITED HEALTH CREDIT UNION UPWA 6502311300 1860 EL CAMINO REAL SUITE 100 BURLINGAME CA 940103106 JASON MERTZ-PRICKETT PRESIDENT & CEO 6502311300 2025-11-13 1 1 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z JASON MERTZ-PRICKETT 1860 EL CAMINO REAL SUITE 100 BURLINGAME CA 940103106 4688101 0 X WWW.UPWARDCU.ORG X CREDIT UNION 1956 CA A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 15 14 68751 0 0 0 3306635 3786906 580610 901195 0 0 3887245 4688101 0 19845 0 0 1481291 1728114 0 0 0 2142758 2556189 3624049 4304148 263196 383953 94183458 94012475 86716109 85146776 7467349 8865699 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, UPWARD 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 UPWARD CREDIT UNION BECAME A SHARED BRANCH AND JOINED VALERA'S SHARED BRANCH NETWORK, PROVIDING MEMBERS WITH GREATER CONVENIENCE AND FLEXIBILITY IN MANAGING THEIR ACCOUNTS. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1125 0 1 15 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 1 1 0 CA X X JASON MERTZ-PRICKETT PRESIDENT & CEO 6502311300 1860 EL CAMINO REAL SUITE 100 BURLINGAME CA 940103106 ANNIE MILLER CHAIR 2.00 X 0 0 0 THEODORE CELENTINO VICE CHAIR 2.00 X 0 0 0 ANGELA DAVIS TREASURER 2.00 X 0 0 0 ABBY VILLAVICENCIO SECRETARY 2.00 X 0 0 0 REED GRAHAM DIRECTOR 2.00 X 0 0 0 KAYLYN DAWKINS DIRECTOR 2.00 X 0 0 0 KAREN DAWKINS DIRECTOR 2.00 X 0 0 0 MATTHEW T RING DIRECTOR 2.00 X 0 0 0 TED DURKAN CELENTINO DIRECTOR 2.00 X 0 0 0 THERESA CHASE SUPV CMTE CHAIR 2.00 X 0 0 0 ANN BROWN SUPV CMTE MEMBER 2.00 X 0 0 0 CLARENCE DICKERSON SUPV CMTE MEMBER 2.00 X 0 0 0 JASON MERTZ-PRICKETT PRESIDENT & CEO 40.00 X 211177 0 12757 ANTHONY CHAVIRA COO 40.00 X 146101 0 5963 357278 0 18720 4 0 1 0 0 INTEREST ON LOANS 522100 2904117 2904117 OTHER OPERATING INCOME 522100 503367 489414 13953 FEE INCOME 522100 379422 324624 54798 3786906 901195 901195 4688101 4619350 68751 0 17345 2500 357278 1260168 110668 17160 31200 170633 100115 549206 164133 202330 109929 668293 55740 CREDIT LOSS EXPENSE 267934 LOAN SERVICING EXPENSE 104960 MISC OPERATING EXPENSE 91080 OPERATING FEES 16175 7301 4304148 1142791 1971209 1844973 1151185 1493265 142427 151858 2312629 1989491 558741 323138 27422425 28709764 61053695 57943924 2018406 2268132 94183458 94012475 1152212 630443 85563897 84516333 86716109 85146776 X 0 0 0 0 7467349 8865699 7467349 8865699 94183458 94012475 383953 1014397 0 X X 0 1 X 1 0 1750 1750 1750 1 CCUL - PAC 2855 E GUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 1750 PART I-A, LINE 1: CONTRIBUTION TO CALIFORNIA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE 194947 159710 35237 1876284 1829781 46503 241398 241398 323138 NET LOANS & LEASES 47061365 F DEPOSITS IN COMMERCIAL BANKS, ETC 9962000 C NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 832792 C MEMBERSHIP CAPITAL AT CORP 87767 C 57943924 TOTAL SHARES & DEPOSITS 84516333 84516333 X 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) SECTION 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 A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED MARCH 31, 2025, AND 2024 MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 MILLS-PENINSULA HOSPITAL FOUNDATION 2200 RIVER PLAZA DR SACRAMENTO CA 95833 237288765 501(C)(3) 6000 0 FMV TO ASSIST IN IMPROVING PATIENT CARE, ADVANCING MEDICAL PROGRAMS, AND PROMOTING COMMUNITY HEALTH. 1 0 X X 0 1 0 JASON MERTZ-PRICKETT PRESIDENT & CEO 202278 0 6778 0 2121 0 12757 0 0 0 223934 0 0 0 ANTHONY CHAVIRA COO 141021 0 4918 0 162 0 5963 0 0 0 152064 0 0 0 PART I, LINE 4B THE CREDIT UNION ENTERED INTO COLLATERAL SPLIT-DOLLAR LIFE INSURANCE AGREEMENTS FOR A KEY EMPLOYEE IN 2019. THE KEY EMPLOYEE HAS SINCE RETIRED IN 2022. DURING 2024, THE CREDIT UNION ENTERED INTO A CONVERTIBLE SPLIT DOLLAR LIFE INSURANCE AGREEMENT WITH ITS EXECUTIVE OFFICER, UNDER WHICH THE CREDIT UNION AND THE EXECUTIVE SHARE THE RIGHTS TO THE POLICY'S CASH VALUE AND DEATH BENEFIT. THE EXECUTIVE RECOGNIZES THE ECONOMIC BENEFIT OF THE LIFE INSURANCE AS INCOME. AS OF DECEMBER 31, 2024, THE CARRYING AMOUNT OF THE RELATED ASSET IS $199,134. LINDA WHITE FORMER OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 1320000 1493265 0 1 1 1493265 FORM 990, PART VI, SECTION A, LINE 6 UPWARD 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. UPWARD CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF UPWARD 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 OUR 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 A COPY OF FORM 990 AND SCHEDULES ARE PRESENTED TO THE BOARD AT THE BOARD MEETING FOR REVIEW AND DISCUSSION. CHANGES AND MODIFICATIONS ARE THEN TAKEN INTO ACCOUNT FOR FINAL COMPLETION AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD APPOINTS A COMMITTEE THAT PERFORMS THE REVIEW FOR THE CEO AND REVIEWS SALARY SURVEYS FOR CREDIT UNIONS TO DETERMINE THE SALARY RANGE. THE CEO DOES THE PERFORMANCE EVALUATION FOR SENIOR MANAGEMENT AND REVIEWS SALARY SURVEYS FOR CREDIT UNIONS TO DETERMINE THE SALARY RANGE. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990, SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION UPWARD CREDIT UNION 1860 EL CAMINO REAL, #100 BURLINGAME, CA 94010-3106 TAXPAYER IDENTIFICATION NUMBER: 94-6093763 FOR THE YEAR ENDING DECEMBER 31, 2024 UPWARD CREDIT UNION IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F).