California Coast Credit Union has been serving its members’ best interest for over 85 years.
We’re proud to be the credit union of choice for over 135,000 members. Everyone in
San Diego and Riverside counties is welcome to open an account with us. We’re a true credit union embracing the philosophy of people helping people—providing the best possible rates and offering a wide array of services.
Our service is friendly, our branches are welcoming and the member experience is truly enjoyable. In fact, our members give us exceptional ratings in member service, year after year.
It is with great pride that we give back to our community by providing local high school and college students with financial education and scholarships, raising funds for Rady Children’s
Hospital, the San Diego Humane Society and so much more. Cal Coast employees are passionate about our members’ financial well-being and are dedicated to improving the lives of those in our communities.
Today, California Coast offers over 20 branches, competitive deposit rates, lower loan rates, state-of-the-art technology, mobile banking and many additional convenient services. Members have access wherever they live, work or travel through Cal Coast Online, a shared branch network of more than 5,000 locations, as well as more than 30,000 surcharge-free ATMs nationwide.
“I had a lot of credit card debt six years ago. My sister, when I told her my story, said ‘we’re going to Cal Coast Credit Union and we’re getting your act together.’ It’s like running a race.
You know you can probably do it by yourself, but having someone next to you, coaching you, it made it so much easier. Cal Coast has changed my life. And ever since then, it’s been such a wonderful experience.”
Barbara Weakley – Cal Coast Member since 1979

California Coast Credit Union is pleased to be the credit union of choice for over 135,000 members in San Diego and Southern Riverside counties. Member satisfaction is always one of our top priorities and our members have consistently given us exceptional marks for service and satisfaction, year after year.
On solid ground with over $1.9 billion in assets, our current financial standing indicates strong performance and risk management practices. In addition, California
Coast remains well capitalized with good loan quality.
Being well capitalized is a key measure of our strength— it provides safety for our members and allows us to invest in secure systems, new services and branch locations that enhance our members’ experience with the credit union.
California Coast launched a new values-based brand which was a significant expansion of our mission to give back to our communities through involvement with charities and causes that support youth, education and the health and care of people and animals. We deepened our relationship with our communities by engaging our employees to become even more involved where they live or work and their participation has been as outstanding as it has been rewarding. We also made it part of our values-based brand to expand financial education to both our members and the community at large through teen financial reality fairs, financial tips on TV, radio and social media and educational videos on our website.
Todd M. Lane
President/CEO
In an effort to continue to offer California Coast members a truly exceptional experience, we recently launched new technological advancements, including account-to-account transfers, Apple Pay™ and upgraded online security features. In addition, our new website was launched in
2014 to provide our members with an updated, clean design and intuitive, easy-to-use menu options.
We appreciate our members’ trust in us to provide value they won’t find anywhere else—from real savings, to financial know-how, to a richer life. Our members can continue to count on us to embrace the latest proven technological advances, provide exceptional member service and go the extra mile in the communities we serve.
Respectfully submitted,
California Coast Credit
Union salutes and thanks
Marla Shepard for her years of service as President and
CEO. After a 42-year career in the credit union industry, ranging from teller to CEO,
Marla retired in February of 2015.
Marla began her career as a teller at Santel Federal
Credit Union in 1972.
Quickly moving up the ranks, she became CEO just ten years later. She led Santel through five mergers and a name change in 2001 to First
Future Credit Union. In 2008, she helped to orchestrate what was the largest credit union merger in the U.S., uniting First Future and California Coast.
Under Marla’s leadership at California Coast, capital increased to over $200 million, which significantly exceeds the level considered by regulators to be well capitalized.
An ardent advocate for credit unions, in the 1990’s Marla led a political effort to get all five of San Diego County’s congressional representatives to co-sponsor H.R. 1151, a bill allowing credit unions to expand their fields of membership. They all signed, making San Diego the only county to have every member of Congress support the bill.
“Marla’s extensive engagement throughout the years has made a substantial positive impact on California
Coast, ensuring continued growth, financial strength, and exceptional member service,“ said Diana Dykstra,
President and CEO of the California and Nevada Credit
Union League. “She has been a passionate leader affecting positive legislative change and advancing the credit union movement.”
On behalf of the Board of Directors and the entire credit union family, we thank Marla for her leadership and wish her only the best in her well-deserved retirement.

As we celebrated our 85th year of service, California
Coast Credit Union continued to focus on our mission of promoting our members’ financial prosperity while continuously delivering exceptional, caring service. After surveying our members this year, we were again gratified to find that you agree our service standards live up to your expectations.
In our quest to better serve our growing membership, we opened new, convenient branch locations in Encinitas and on the campus of San Diego State University. For those members who choose to transact business electronically, we made it easier to move money to and from external accounts with our new account-to-account transfer function and the ability to open new accounts and loans online from start to finish. We are also pleased to announce that we launched Apple Pay™, which allows you to securely pay for purchases with your Cal Coast Visa credit card using an iPhone. At the forefront of any electronic transaction enhancement we provide you is the security of your personal information and hard-earned funds.
Providing you with financial literacy and education is an important part of our service to our members and the community. In that regard, Cal Coast was pleased to launch an award-winning, dynamic website in early
December. The new website’s “Know & Plan” section offers resources and tools to help further educate members in money management. We also increased our commitment to educating our youth on financial matters by providing a reality-based financial literacy program called Bite of
Reality. You can expect Cal Coast to double its efforts towards offering this and other critical financial education.
You place your confidence in California Coast and our safety and soundness remain very strong. Our growth in loans to members hit all-time historic highs with an increase of 126% in new loan originations. During 2014, nearly
15,000 auto loans and 1,800 real estate loans were made to new and current members.
We look forward to another successful year and are constantly on the lookout for the latest proven and innovative technology and services, as we are committed to serving the best interest of our members. We look forward to continuing to help you meet your financial goals now and in the years to come.
Respectfully submitted,
Bruce A. Husson
Board of Directors Chair
The Supervisory Committee represents the membership of California Coast Credit Union and is responsible for overseeing the audit function. The Committee is also charged with documenting the verification of member accounts periodically in accordance with the credit union’s bylaws. To fulfill these responsibilities, the Supervisory
Committee engaged the independent audit firm of Turner,
Warren, Hwang & Conrad AC to perform the verification of member accounts as of December 31, 2014, and
CliftonLarsonAllen to perform the financial statement audit for the period ending March 31, 2015.
It is the opinion of CliftonLarsonAllen that the consolidated financial statements present fairly, in all material respects, the financial condition of California
Coast Credit Union and its subsidiary as of March 31,
2015, and the results of their operations and their cash flows for the year conform to generally accepted accounting principles. As part of the audit of the financial statements, a confirmation of members’ accounts as of
December 31, 2014, was performed in accordance with the requirement of the California Department of Business
Oversight and generally accepted auditing standards.
The Supervisory Committee is also responsible for overseeing the internal audit function. The Committee selects and coordinates the audits of key areas and regularly meets to review audit findings, and to ensure the continued strengthening of its internal controls. As a result of these audits, the established strong processes and controls of California Coast continue to be improved in 2015.
On behalf of the Committee, I would like to thank the
California Coast management and Board of Directors for their leadership and cooperation.
Respectfully submitted,
Jay Shepard
Supervisory Committee Chair

As part of our goals to help improve the lives of people in our community, California Coast Credit Union is pleased to support many local organizations, including our continued partnership with San Diego
State University and the sponsorship of their historic open air theatre. We are also proud to support the San Diego Humane Society, Rady Children’s Hospital, Temecula Half Marathon & 5K, the Union-
Tribune’s Literacy Opens Doors campaign, and various food and toy drives. Our collaboration with the San
Diego County Office of Education’s Drive for Success program provides thousands of school supplies to homeless youth. In addition, Cal Coast is the exclusive sponsor of the San Diego Zoo’s Jungle Bells event.
Our community outreach also includes providing financial literacy through monthly workshops and financial content on radio, television, social media and our website. Our branches also take an active role in supporting schools, colleges and organizations in their communities.
California Coast has a very active team of volunteers which include employees, family and friends called Cal Coast Cares. Our Cal Coast Cares team proudly raises money for and participates in many community events every year. We regularly post on Facebook and Twitter about community events and encourage members and the general public to join us on our journey of giving back to our communities.
“You see the footprint of Cal Coast almost anywhere you look on [the SDSU] campus. They’ve been there every step of the way through every project, philanthropy, every festival we’ve had. The financial literacy classes they give are exceptional. They’re things you need to know for life. Cal Coast is definitely more than a place to keep your money. It’s definitely a place where you feel you belong.”
Kevin Hancock – SDSU Student and Associated Student Executive Board Member

AS OF
Cash and Cash Equivalents
Deposits in Other Financial Institutions
Securities - Available for Sale
Securities - Held to Maturity
Other Investments
Loans - Held for Sale
Loans, Net
Accrued Interest Receivable
Foreclosed Assets
$ 72,353,000
19,215,000
191,554,000
274,692,000
14,536,000
2,017,000
1,269,334,000
4,304,000
3,423,000
$ 112,087,000
18,480,000
217,168,000
428,518,000
14,247,000
1,261,000
978,862,000
4,333,000
3,717,000
Premises and Equipment, Net
NCUSIF (National Credit Union Share Insurance Fund) Deposit
Goodwill
27,807,000
15,929,000
29,899,000
15,577,000
3,168,000 3,168,000
Other Assets 7,847,000 6,155,000
TOTAL ASSETS $ 1,906,179,000 $ 1,833,472,000
LIABILITIES AND MEMBERS’ EQUITY
Liabilities
Members’ Share and Savings Accounts
Accrued Expenses and Other Liabilities
Total Liabilities
Members’ Equity
Regular Reserves
Undivided Earnings
Accumulated Other Comprehensive Income
Total Members’ Equity
TOTAL LIABILITIES AND MEMBERS’ EQUITY
$ 1,678,166,000
8,038,000
1,686,204,000
78,754,000
140,944,000
277,000
219,975,000
$ 1,906,179,000
$ 1,623,492,000
6,222,000
1,629,714,000
78,754,000
124,947,000
57,000
203,758,000
$ 1,833,472,000
FISCAL YEAR ENDED
INTEREST INCOME 3/31/2015 3/31/2014
Loans $ 45,412,000 $ 43,006,000
Securities, Interest Bearing Deposits and Cash Equivalents 4,853,000
Total Interest Income 50,265,000 48,315,000
INTEREST EXPENSE
Members’ Share and Savings Accounts
Net Interest Income
3,296,000
46,969,000
3,901,000
44,414,000
PROVISION (CREDIT) FOR LOAN LOSSES
Net Interest Income After Provision (Credit)
for Loan Losses
NON-INTEREST INCOME
Service Charges and Fees
Interchange Income
Other Non-Interest Income
Total Non-Interest Income
NON-INTEREST EXPENSE
General and Administrative
Employee Compensation and Benefits
Office Occupancy
Office Operations
Other Operating Expenses
Total Non-Interest Expense
NET INCOME
1,158,000
45,811,000 50,003,000
9,995,000
10,043,000
4,911,000
24,949,000
9,586,000
9,493,000
5,277,000
24,356,000
29,977,000
6,045,000
13,859,000
4,882,000
54,763,000
$ 15,997,000
(5,589,000)
28,159,000
5,652,000
13,357,000
6,052,000
53,220,000
$ 21,139,000

The Statement of Financial Condition as of March 31,
2015 reflects a 4.0% growth in assets which ended the fiscal year at $1.91 billion, a $73 million increase over the prior year. Most of the credit union’s assets are in loans to members and most of the liabilities are in the form of members’ share accounts.
Total members’ equity (generally understood to represent reserves) amounted to $220 million, reflecting an 8.0% increase ($16.2 million) over the prior year. The credit union’s ratio of equity-to-assets ended at 11.54% versus
11.11% at the end of March 2014, each of which greatly exceeded the regulators 7.0% definition of
“well capitalized.”
Members’ shares provide the source of liquidity for making loans to members. One metric used for measuring how much is being loaned out is the loan-to-share ratio. At March 31, 2014, that ratio was 61.2% but by
March 31, 2015, it had risen to 76.5% as more of the credit union members turned to Cal Coast to meet their borrowing needs.
For the fiscal year ended March 31, 2015, net interest income was at $47.0 million before the provision for loan losses. The provision for loan losses (PLL) expense totaled $1.2 million, bringing net interest income to
$45.8 million. The PLL expense was negative in 2014 as low charge offs and high recoveries more than offset the PLL expense for new loans.
Non-interest income increased by $593 thousand as income related to interchange income and service volumes increased while other non-interest income related to gains on sale of mortgage loans and real estate owned properties declined. Non-interest expense was $1.5 million higher than the previous year but overall was held in check as the credit union continued to focus on expense control in the midst of extremely high growth in loans and moderate growth in deposits.
Net income for the period ending March 31, 2015 was $16.0 million as compared to net income of $21.1 million for the prior fiscal year. The decrease in net income was largely the result of the provision for loan losses expenses beginning to stabilize.
The credit union continues to diligently manage operating expenses and growth in member loans. Contributing positive factors included a slowly strengthening economy and high demand for auto loans.
We believe that due to the combination of strong reserves and wise lending and investment practices, along with an emphasis on member financial education, our credit union is well positioned to continue as a safe harbor of financial services for our members.
Respectfully submitted,
Christina Lethlean
Chief Financial Officer
Other Consumer Loans
2%
Credit Cards
4%
Checking
8%
IRAs
7%
Certificates
18%
Savings
22%
Money Market Shares
45%
Vehicle Loans
38%
Consumer
Real Estate
Fixed
36%
Business
Real Estate
Non-residential
14%
Consumer
Real Estate
Variable
6%

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