Civic Intelligence

Financial Benefits Credit Union

EIN 94-0790807 • 501(c)14 • Downey, CA

Profile

Financial Benefits Credit Union is a non-profit financial cooperative that provides financial services for their members including savings and loans. The mission of the credit union is to charge the least interest on their loans and pay the most for deposits to its members.

7800 East Imperial HighwayDowney, CA 90242-3457

www.fbcu.net/asp/home

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2017

Liabilities / Revenue

40th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

$500k-$1M nonprofits • Source year 2017

Net Margin

13th percentile

-39%

Higher net margin than 13% of similar nonprofits.

$500k-$1M nonprofits • Source year 2017

Top Officer Pay

98th percentile

$123,549

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

$500k-$1M nonprofits • Source year 2016

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

$500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

16th percentile

-22%

Faster revenue growth than 16% of similar nonprofits.

$500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$0

Down $20,391,540 (-100%) from 2016

Liabilities

Down

$0

Down $18,853,915 (-100%) from 2016

Net Assets

Down

$0

Down $1,537,625 (-100%) from 2016

Revenue

Down

$699,225

Down $198,006 (-22%) from 2016

Expenses

Up

$971,853

Up $13,070 (+1.4%) from 2016

Net Income

Down

-$272,628

Down $211,076 (-343%) from 2016

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $19,338,450Liabilities 2010: $17,866,483Net Assets 2010: $1,471,9672010Assets 2011: $19,219,534Liabilities 2011: $17,765,308Net Assets 2011: $1,454,2262011Assets 2012: $19,669,680Liabilities 2012: $18,173,174Net Assets 2012: $1,496,5062012Assets 2013: $19,133,625Liabilities 2013: $17,559,551Net Assets 2013: $1,574,0742013Assets 2014: $18,851,992Liabilities 2014: $17,222,935Net Assets 2014: $1,629,0572014Assets 2015: $18,904,507Liabilities 2015: $17,305,330Net Assets 2015: $1,599,1772015Assets 2016: $20,391,540Liabilities 2016: $18,853,915Net Assets 2016: $1,537,6252016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,114,8412010Expenses 2011: $1,000,5362011Expenses 2012: $958,4302012Revenue 2013: $1,051,492Expenses 2013: $973,924Net Income 2013: $77,5682013Revenue 2014: $987,156Expenses 2014: $932,173Net Income 2014: $54,9832014Revenue 2015: $895,796Expenses 2015: $925,676Net Income 2015: -$29,8802015Revenue 2016: $897,231Expenses 2016: $958,783Net Income 2016: -$61,5522016Revenue 2017: $699,225Expenses 2017: $971,853Net Income 2017: -$272,6282017

Highlighted filing

2017

Revenue$699,225
Expenses$971,853
Net Income-$272,628

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Oct 31, 2017
Signed
Feb 8, 2018
Return Version
2017v2.2
Gross Receipts
$699,225
Mission and Program Overview

Mission

Financial Benefits Credit Union is a non-profit financial cooperative that provides financial services for their members including savings and loans. The mission of the credit union is to charge the least interest on their loans and pay the most for deposits to its members.

A cooperative, organized for the purpose of promoting thrift and savings among its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$14,612,521$0▼ $14,612,521
Savings and Temporary Cash Investments$3,998,486$0▼ $3,998,486
Rtn Earn Endowment Incm Other Fnds$1,537,625$0▼ $1,537,625
Land, Buildings, and Equipment, Net$1,196,019$0▼ $1,196,019
Cash and Non-Interest-Bearing Accounts$296,906$0▼ $296,906
Accounts Receivable$35,113$0▼ $35,113
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$20,391,540$0▼ $20,391,540
Other Assets Total$252,495$0▼ $252,495
Liabilities
Other Liabilities$18,803,992$0▼ $18,803,992
Accounts Payable and Accrued Expenses$49,923$0▼ $49,923
Total Liabilities$18,853,915$0▼ $18,853,915
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,537,625$0▼ $1,537,625
Total Liabilities and Net Assets / Fund Balance$20,391,540$0▼ $20,391,540
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John R SchaffnerTreasurerFT$104,060$37,090$141,150

Board Members and Trustees

NameTitle
Dubose ScarboroughChairman
Al FordSupv Cmte Chair
Ben BussellVice Chairman
Roberta BobbaSecretary
Angela McintyreSupv Cmte Member
Darrell WhitleySupv Cmte Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$650,022
Investment Income
$1,158
Other Revenue
$48,045
Change in Net Assets
$-272,628
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$566,894
Salaries, Compensation, and Employee Benefits$404,959
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$207,908
Office Expenses---$194,004
Other Salaries and Wages---$193,193
Current Officers, Directors, Trustees, and Key Employees---$104,060
Other Employee Benefits---$83,146
Information Technology---$45,578
Interest---$39,064
Occupancy---$35,143
Payroll Taxes---$24,560
Advertising---$8,310
Travel---$6,387
Other Expenses---$6,230
All Other Expenses---$1,355
Total Functional Expenses$0$0$0$971,853
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

Effective november 1, 2017, financial benefits credit union merged with financial partners credit union. Financial benefits credit union terminated its charter accordingly.

Form 990, Part VI, Section A, Line 6

Financial benefits 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. Financial benefits credit union does not have stockholders.

Form 990, Part VI, Section A, Line 7A

The governing board of financial benefits 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

Prior to filing, the form 990 is reviewed by the board of financial partners credit union as financial benefits credit union merged out effective november 1, 2017. The board recommends changes if necessary.

Form 990, Part VI, Section B, Line 12

For the conflict of interest, employees receive the conflict of interest policy on the date of hire. If any conflicts are noted then hr reviews to determine if there really is a conflict. Annually the form is sent to each employee from the compliance officer and if any conflicts are noted then hr reviews to determine if there really is a conflict.

Form 990, Part VI, Section B, Line 15A

All compensation and annual increases for top management is determined and approved by the board of directors.

Form 990, Part VI, Section C, Line 19

The required governing documents are displayed in the credit union lobby and accessible through the internet.

Filing and Contact Details

Filer

Filer Name
Financial Benefits Credit Union
EIN
94-0790807
Phone
5629044208
Address
7800 EAST IMPERIAL HIGHWAY, DOWNEY, CA 90242-3457

Signing Officer

Name
Mary Torsney
Title
SVP/CFO
Phone
5629044208
Signed
2018-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Schaffner
Formed
1931
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
5
Volunteers
7

Preparer

Firm
Turner Warren Hwang & Conrad Acctcy
Address
100 NORTH FIRST ST STE 202, BURBANK, CA 91502
Preparer
Valentino Creus CPA
Phone
8189549700
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

Effective november 1, 2017, financial benefits credit union ceased operations and merged into financial partners credit union.

Form 990, Part IX, Line 11G

OTHER 207,908.

FORM 990, PART XI, LINE 9:

Net assets transferred due to merger -1,264,997.

FORM 990, PART XII, LINE 2C:

The organization has not changed either its oversight process or its selection process during the year. Financial benefits credit union merged into financial partners credit union effective november 1, 2017.

Raw XML AppendixShowing 400 of 420 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt049923
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt00
IRS990/AccountsReceivableGrp/BOYAmt035113
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
IRS990/AddressChangeInd0X
IRS990/AdvertisingGrp/TotalAmt08310
IRS990/AllOtherExpensesGrp/TotalAmt01355
IRS990/BooksInCareOfDetail/PersonNm0MARY TORSNEY SVPCFO
IRS990/BooksInCareOfDetail/PhoneNum05629044213
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt07800 EAST IMPERIAL HIGHWAY
IRS990/BooksInCareOfDetail/USAddress/CityNm0DOWNEY
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0CA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd090242
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt0296906
IRS990/CashNonInterestBearingGrp/EOYAmt00
IRS990/ChangeToOrgDocumentsInd01
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0104060
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractTerminationInd0X
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt01158
IRS990/CYOtherExpensesAmt0566894
IRS990/CYOtherRevenueAmt048045
IRS990/CYProgramServiceRevenueAmt0650022
IRS990/CYRevenuesLessExpensesAmt0-272628
IRS990/CYSalariesCompEmpBnftPaidAmt0404959
IRS990/CYTotalExpensesAmt0971853
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0699225
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0CREDIT UNION
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt05
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesOtherGrp/TotalAmt0207908
IRS990/FinalReturnInd0X
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt640.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt637090
IRS990/Form990PartVIISectionAGrp/PersonNm0DUBOSE SCARBOROUGH
IRS990/Form990PartVIISectionAGrp/PersonNm1DARRELL WHITLEY
IRS990/Form990PartVIISectionAGrp/PersonNm2BEN BUSSELL
IRS990/Form990PartVIISectionAGrp/PersonNm3ROBERTA BOBBA
IRS990/Form990PartVIISectionAGrp/PersonNm4AL FORD
IRS990/Form990PartVIISectionAGrp/PersonNm5ANGELA MCINTYRE
IRS990/Form990PartVIISectionAGrp/PersonNm6JOHN R SCHAFFNER
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt6104060
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1SUPV CMTE MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4SUPV CMTE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SUPV CMTE MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01931
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt04
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0699225
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt045578
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt039064
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt01158
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01158
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01196019
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0CA
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0FINANCIAL BENEFITS CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS 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, FINANCIAL BENEFITS CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01537625
IRS990/NetAssetsOrFundBalancesEOYAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt035143
IRS990/OfficeExpensesGrp/TotalAmt0194004
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0252495
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt0-1264997
IRS990/OtherEmployeeBenefitsGrp/TotalAmt083146
IRS990/OtherExpensesGrp/Desc0ASSOCIATION DUES
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc2OPERATING FEES
IRS990/OtherExpensesGrp/Desc3LOAN SERVICE
IRS990/OtherExpensesGrp/TotalAmt08319
IRS990/OtherExpensesGrp/TotalAmt18301
IRS990/OtherExpensesGrp/TotalAmt26295
IRS990/OtherExpensesGrp/TotalAmt36230
IRS990/OtherLiabilitiesGrp/BOYAmt018803992
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherOrganizationDsc0CREDIT UNION
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER OPERATING INCOME
IRS990/OtherRevenueMiscGrp/Desc1PROVISION FOR LOAN LOS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt044449
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt13596
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt044449
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt13596
IRS990/OtherRevenueTotalAmt048045
IRS990/OtherSalariesAndWagesGrp/TotalAmt0193193
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt014612521
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt024560
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0JOHN SCHAFFNER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0610253
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt139769
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0610253
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt139769
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02757
IRS990/PYOtherExpensesAmt0451507
IRS990/PYOtherRevenueAmt042778
IRS990/PYProgramServiceRevenueAmt0851696
IRS990/PYRevenuesLessExpensesAmt0-61552
IRS990/PYSalariesCompEmpBnftPaidAmt0507276
IRS990/PYTotalExpensesAmt0958783
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0897231
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-272628
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01537625
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03998486
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1SAVINGS AND TEMPORARY INVESTMENTS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2NOTES AND LOANS RECEIVABLE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3FIXED ASSETS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4OTHER ASSETS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0FINANCIAL PARTNERS CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1FINANCIAL PARTNERS CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2FINANCIAL PARTNERS CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt3FINANCIAL PARTNERS CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt4FINANCIAL PARTNERS CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02017-10-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12017-10-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22017-10-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32017-10-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt42017-10-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0951653038
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1951653038
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN2951653038
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN3951653038
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN4951653038
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt03734367
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt1489490
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt213897822
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt31158811
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt4215439
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt2501(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt3501(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt4501(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2FAIR MARKET VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3FAIR MARKET VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt4FAIR MARKET VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt07800 EAST IMPERIAL HIGHWAY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt17800 EAST IMPERIAL HIGHWAY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt27800 EAST IMPERIAL HIGHWAY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt37800 EAST IMPERIAL HIGHWAY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt47800 EAST IMPERIAL HIGHWAY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0DOWNEY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1DOWNEY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2DOWNEY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm3DOWNEY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm4DOWNEY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0CA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1CA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd2CA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd3CA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd4CA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd090242
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd190242
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd290242
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd390242
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd490242
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EFFECTIVE NOVEMBER 1, 2017, FINANCIAL BENEFITS CREDIT UNION CEASED OPERATIONS AND MERGED INTO FINANCIAL PARTNERS CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EFFECTIVE NOVEMBER 1, 2017, FINANCIAL BENEFITS CREDIT UNION MERGED WITH FINANCIAL PARTNERS CREDIT UNION. FINANCIAL BENEFITS CREDIT UNION TERMINATED ITS CHARTER ACCORDINGLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FINANCIAL BENEFITS 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. FINANCIAL BENEFITS CREDIT UNION DOES NOT HAVE STOCKHOLDERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BOARD OF FINANCIAL BENEFITS 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AT 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PRIOR TO FILING, THE FORM 990 IS REVIEWED BY THE BOARD OF FINANCIAL PARTNERS CREDIT UNION AS FINANCIAL BENEFITS CREDIT UNION MERGED OUT EFFECTIVE NOVEMBER 1, 2017. THE BOARD RECOMMENDS CHANGES IF NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FOR THE CONFLICT OF INTEREST, EMPLOYEES RECEIVE THE CONFLICT OF INTEREST POLICY ON THE DATE OF HIRE. IF ANY CONFLICTS ARE NOTED THEN HR REVIEWS TO DETERMINE IF THERE REALLY IS A CONFLICT. ANNUALLY THE FORM IS SENT TO EACH EMPLOYEE FROM THE COMPLIANCE OFFICER AND IF ANY CONFLICTS ARE NOTED THEN HR REVIEWS TO DETERMINE IF THERE REALLY IS A CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ALL COMPENSATION AND ANNUAL INCREASES FOR TOP MANAGEMENT IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE REQUIRED GOVERNING DOCUMENTS ARE DISPLAYED IN THE CREDIT UNION LOBBY AND ACCESSIBLE THROUGH THE INTERNET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9OTHER 207,908.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10NET ASSETS TRANSFERRED DUE TO MERGER -1,264,997.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR ITS SELECTION PROCESS DURING THE YEAR. FINANCIAL BENEFITS CREDIT UNION MERGED INTO FINANCIAL PARTNERS CREDIT UNION EFFECTIVE NOVEMBER 1, 2017.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt020391540
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt020391540
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/TotalAmt0971853
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018853915
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt018853915
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01537625
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt037090
IRS990/TotalProgramServiceRevenueAmt0650022
IRS990/TotalReportableCompFromOrgAmt0104060
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0699225
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0699225
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt020391540
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt06387
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07800 EAST IMPERIAL HIGHWAY
IRS990/USAddress/CityNm0DOWNEY
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd0902423457
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.FBCU.NET
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MARY TORSNEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SVP/CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum05629044208
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FINANCIAL BENEFITS CREDIT UNION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O FINANCIAL PARTNERS CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0FINA
ReturnHeader/Filer/EIN0940790807
ReturnHeader/Filer/PhoneNum05629044208
ReturnHeader/Filer/USAddress/AddressLine1Txt07800 EAST IMPERIAL HIGHWAY
ReturnHeader/Filer/USAddress/CityNm0DOWNEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd0902423457

Document Assets

No mirrored PDF or thumbnail assets are attached yet.