Annual Report I 2019

At Frontwave Credit Union, safeguarding our members’ assets, ensuring an independent Opinion Audit and other regulatory audits are performed annually, as well as verifying members’ accounts are the primary responsibilities of the Supervisory Committee. The Committee performed its duties during 2019 in collaboration with the credit union’s Internal Audit and Compliance Department, certified public accountants, the National Credit Union Administration (NCUA), and the California Department of Business Oversight (DBO). The Supervisory Committee continued to engage the outside auditing firm of Turner, Warren, Hwang & Conrad to perform these independent audits of Frontwave Credit Union’s financial statements, and regulatory audits. We are pleased to inform you that the audits for 2019 were completed successfully. Frontwave Credit Union’s financial statements comply with generally accepted accounting principles and fairly represent the financial condition of the credit union. Regulatory audits reflected Frontwave to be in compliance. Based on the results of the contracted financial and regulatory audits, Frontwave Credit Union’s internal audits, and examinations conducted by the NCUA and DBO, the Committee finds that Frontwave Credit Union is a financially sound organization and Supervisory Committee Report

substantially in compliance with credit union regulations. For insight into the 2019 financial performance of Frontwave Credit Union, please refer to the Statement of Financial Condition, published in this Annual Report. As we enter 2020 and a new decade, the compliance and regulatory landscape that governs Frontwave Credit Union continues to evolve and change. The Supervisory Committee’s mission to protect our members’ interests in compliance with policies, procedures, and all relevant laws, rules and regulations remains paramount and our top priority. Finally, the Supervisory Committee wishes to thank the Management Team and Board of Directors for their diligence, support, and dedication to the welfare of our membership and to Frontwave

Credit Union. William Shute Chairman, Supervisory Committee

2019 LEADERS

Richard Rothwell Chairman

Michael Brigagliano Vice Chairman

Gary Greving Treasurer

James Cothran Secretary

George Hoagland Director

Bill Birnie President/CEO

Brian Sutton Director

Kelley Mayer Director

Gerald Polyascko Director

Marlon Ramos Director

WEBSITE frontwavecu.com MEMBER SOLUTION CENTER 800.736.4500 EXPRESS LINE 800.829.7676

LOCATIONS

Barstow Camp Pendleton/Mainside Camp Pendleton/Pacific Plaza Camp Pendleton/SOI Escondido Oceanside/Fire Mountain Oceanside/Rancho Del Oro

San Diego/MCRD San Marcos Temecula/Temecula Parkway Temecula/Winchester Twentynine Palms Wildomar Yucca Valley

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