2024-11-15T12:57:31-06:00 2023-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 1100 LOS ANGELES CA 90024 990 2023-01-01 840405947 DENVER COMMUNITY CREDIT UNION DBA ZING CREDIT UNION DENV 3035731170 1075 ACOMA STREET DENVER CO 80204 SHANE SILVERNALE CO-CEO 3035731170 2024-11-14 1 0 NANAZ BENYAMINI P00748170 3104773924 2024-11-14 2023 2024-10-15 13:58:12Z SHANE SILVERNALE 1075 ACOMA STREET DENVER CO 80204 22622759 0 X WWW.MYZING.COM X 1934 CO TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. TO PROMOTE THRIFT AMONG MEMBERS BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS. 7 7 105 12 38555 0 0 0 18407536 19700644 2091738 2883560 40360 38555 20539634 22622759 0 0 0 0 7994687 7893666 0 0 0 10416216 14327813 18410903 22221479 2128731 401280 437413993 413726444 392426218 367897888 44987775 45828556 TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THECREDIT UNION. TO PROMOTE THRIFT AMONG MEMBERS BY AFFORDING THEM THEOPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROMTHESE SHARES TO ITS MEMBERS. 0 0 PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO THEMEMBERS OF THE CREDIT UNION. OVER 36,000 MEMBERS SERVED. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 8939 0 1 105 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X SHANE SILVERNALE 3035731170 1075 ACOMA STREET DENVER CO 80204 JAMES DIPAOLO BOARD MEMBER 2.00 X 0 0 0 TONI SHELTON SECRETARY/TREASURER 2.00 X X 0 0 0 CAROLYN LAWSON VICE CHAIR 2.00 X X 0 0 0 JANICE M CORNELL BOARD MEMBER 2.00 X 0 0 0 MORRIS E MURRAY BOARD MEMBER 2.00 X 0 0 0 ANDY BLUNT CHAIRMAN 2.00 X X 0 0 0 HELEN GONZALES BOARD MEMBER 2.00 X 0 0 0 TERESSA BONFANTE CO-CEO 40.00 X 476812 0 26991 SHANE SILVERNALE CO-CEO 40.00 X 457778 0 25702 JOSEPH TASSANO VP OF BRANCHES 40.00 X 222073 0 28107 BARBARA RASH VP HUMAN RESOURCES 40.00 X 178174 0 21467 RACHAEL CALDERON VP - STRATEGIC OUTREACH 40.00 X 126065 0 19726 THERESA SHERRY VP - FINANCE 40.00 X 201194 0 24231 PATRICK KELLY VP - INFORMATION TECHNOLOG 40.00 X 186395 0 16845 HOLLY VANDERPOOL AVP - RETAIL 40.00 X 113275 0 12887 EMERY A HARRIS IT MANAGER 40.00 X 107644 0 12872 ALAN LANG AVP - FINANCE 40.00 X 106148 0 16602 2175558 0 205430 10 0 1 0 CO-OP 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 CARD PROCESSING AND TRAN 1239087 CU PRODIGY CLOUD 420 E SOUTH TEMPLE SUITE 520 SALT LAKE CITY UT 84111 DATA PROCESSOR/IT SUPPORT 1159141 CU DIRECT CONNECT 6377 S REVERE PKWY CENTENNIAL CO 80111 INDIRECT LENDING ORIGINATOR 843255 VISA USA PO BOX 8999 SAN FRANCISCO CA 94128 VISA FEE SETTLEMENT 540164 CORELATION INC 2305 HISTORIC DECATUR RD SUITE 300 SAN DIEGO CA 92106 DATA PROCESSOR/IT SUPPORT 487352 15 INTEREST ON LOANS TO MEMBERS 522100 12741054 12741054 OTHER INCOME 522100 5283277 5283277 FEES AND CHARGES 522100 1676313 1676313 19700644 2859150 2859150 24410 0 24410 24410 24410 NON-MEMBER ATM FEES 522100 38555 38555 38555 22622759 22584204 38555 0 1848493 4674910 268899 630876 470488 19177 122814 288621 458497 2522335 1500688 150149 382703 INTEREST AND DIVIDENDS 4264857 LOAN SERVICING EXPENSES 3578263 PROVISION FOR LOAN LOSS 629328 MISCELLANEOUS OTHER EXP 410381 22221479 2318003 2297157 25716698 41506338 805251 1305481 6999149 6943661 296525518 267259711 15495626 9204875 6560629 6290751 79961770 67965804 2512200 2318200 1000904 1000904 15013871 16838437 437413993 413726444 6193224 4433878 386232994 363464010 392426218 367897888 X 0 0 3454043 0 41533732 45828556 44987775 45828556 437413993 413726444 X 401280 1878527 -1439026 X 0 1 X 1 0 0 0 2992350 2992350 7523082 4500914 3022168 1086443 1086443 0 3893751 3617518 276233 6290751 MEMBERS SHARE AND DEPOSIT ACCOUNTS 363464010 363464010 X PART X, LINE 2: THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2023. X 1 1 X X X X X 0 0 0 TERESSA BONFANTE CO-CEO 396323 0 42121 0 38368 0 19800 0 7191 0 503803 0 0 0 SHANE SILVERNALE CO-CEO 396323 0 42121 0 19334 0 19800 0 5902 0 483480 0 0 0 JOSEPH TASSANO VP OF BRANCHES 196372 0 16000 0 9701 0 12327 0 15780 0 250180 0 0 0 THERESA SHERRY VP - FINANCE 178714 0 12000 0 10480 0 11543 0 12688 0 225425 0 0 0 PATRICK KELLY VP - INFORMATION TECHNOLOG 169957 0 13000 0 3438 0 10335 0 6510 0 203240 0 0 0 BARBARA RASH VP HUMAN RESOURCES 152027 0 12000 0 14147 0 9938 0 11529 0 199641 0 0 0 PART I, LINE 1A A COMPANION WAS ALLOWED TO TRAVEL WITH A VOLUNTEER FOR ONE CONFERENCE DURING THE YEAR. THE COMPANIONS ARE EXPECTED TO REPRESENT THE CREDIT UNION FOR THE SAME BUSINESS PURPOSE FOR WHICH THE VOLUNTEER WAS ATTENDING THE CONFERENCE. TERESSA BONFANTE CO-CEO HOME, AUTO AND CREDIT CARD LOANS X 217214 53392 0 1 1 TERESSA BONFANTE CO-CEO SPLIT DOLLAR LIFE INSURANCE X 2284641 2979898 0 1 1 JAMES DIPAOLO DIRECTOR AUTO AND CREDIT CARD LOANS X 160810 15958 0 1 1 CAROLYN LAWSON OFFICER HOME, AUTO AND CREDIT CARD LOANS X 208000 140760 0 1 1 MORRIS MURRAY OFFICER HOME, AUTO AND CREDIT CARD LOANS X 547300 509168 0 1 1 TONI SHELTON DIRECTOR AUTO X 23389 18251 0 1 1 PATRICK KELLY OFFICER HOME AND AUTO X 375200 276572 0 1 1 BARBARA RASH OFFICER HOME AND AUTO X 386606 280662 0 1 1 THERESA SHERRY OFFICER HOME AND AUTO X 588183 536526 0 1 1 JOE TASSANO OFFICER HOME MORTGAGE X 344000 264854 0 1 1 SHANE SILVERNALE CO-CEO HOME MORTGAGE X 400000 368847 0 1 1 JANICE CORNELL DIRECTOR HOME MORTGAGE X 318250 115760 0 1 1 ANDREW BLUNT OFFICER HOME MORTGAGE X 260000 238341 0 1 1 SHANE SILVERNALE CO-CEO SPLIT DOLLAR LIFE INSURANCE X 831742 1144672 0 1 1 6943661 CUCN MANAGEMENT OF THE CREDIT UNION SITS ON THE BOARD OF DIRECTORS OF THE ENTITY 0 PROCESSING 0 FORM 990, PART VI, SECTION A, LINE 6 THE FIELD OF MEMBERSHIP OF THE CREDIT UNION INCLUDES: MEMBERS OF RECORD OF THE CREDIT UNION AS OF THE EFFECTIVE DATE OF ITS CONVERSION TO STATE CHARTER, PERSONS WHO LIVE OR WORK AND LEGAL ENTITIES LOCATED IN THE COUNTIES OF DENVER, ADAMS, AND ARAPAHOE, COLORADO AND EMPLOYEES OF THE CREDIT UNION, MEMBERS OF THE IMMEDIATE FAMILY OF ANY PERSON WHO, UNDER THE PROVISIONS OF THIS SECTION, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY BE ADMITTED TO MEMBERSHIP THEREIN ('IMMEDIATE FAMILY' MEANS PERSONS RELATED BY BLOOD, MARRIAGE, OR ADOPTION), A MEMBER OF A HOUSEHOLD WHO RESIDES WITH A PERSON WHO, UNDER THE PROVISIONS OF THIS SECTION, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY ALSO BE ADMITTED TO MEMBERSHIP THEREIN. 'HOUSEHOLD' IS DEFINED AS PERSONS LIVING IN THE SAME RESIDENCE AND WHO MAINTAIN A SINGLE ECONOMIC UNIT. THIS INCLUDES ANY PERSON WHO IS A PERMANENT MEMBER OF AND PARTICIPATES IN THE MAINTENANCE OF THE HOUSEHOLD, INCLUDING FAMILY MEMBERS, DOMESTIC PARTNERS, FOSTER CHILDREN AND LEGAL GUARDIAN RELATIONSHIPS MEMBERSHIP MAY INCLUDE ANY SMALL GROUP THAT HAS A COMMON BOND OF EMPLOYMENT OR ASSOCIATION PROVIDED THAT SAID GROUP HAS BEEN ACCEPTED IN ACCORDANCE WITH THE RULES AND REGULATIONS OF THE DIVISION OF FINANCIAL SERVICES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CREDIT UNION ANNUALLY ELECT THE BOARD OF DIRECTORS TO SERVE FOR MULTIPLE-YEAR TERMS BY MAILING IN BALLOTS OR VOTING AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B VARIOUS DECISIONS MADE BY THE BOARD OF DIRECTORS FOR A CREDIT UNION ARE SUBJECT TO APPROVAL BY THE MEMBERS OF THE CREDIT UNION AS SET FORTH IN NCUA RULES AND REGULATIONS AND APPLICABLE STATE REGULATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE CREDIT UNION HAS CONTRACTED WITH A CERTIFIED PUBLIC ACCOUNTING FIRM FOR ASSISTANCE IN COMPLETION OF THE FORM 990. AS PART OF THE FIRM'S PROCESSES, THE FORM 990 IS REVIEWED BY TWO PARTNERS. THE COMPLETED FORM 990 IS ALSO REVIEWED BY CREDIT UNION MANAGEMENT PRIOR TO FILING. THE CHIEF FINANCIAL OFFICER PRESENTS THE FORM 990 TO THE BOARD OF DIRECTORS AT A MONTHLY MEETING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE VICE PRESIDENT - HUMAN RESOURCES MEETS WITH THE BOARD OF DIRECTORS TO REVIEW THE CONFLICT OF INTEREST POLICY. DIRECTORS ARE GIVEN THE OPPORTUNITY TO ASK QUESTIONS AND THEN ASKED TO SIGN A COPY OF THE POLICY FOR THE FILE. EMPLOYEES AND MANAGERS RECEIVE A COPY OF THE CODE OF CONDUCT, CODE OF ETHICS AND CONFLICT OF INTEREST AT TIME OF HIRE AND THEN THIS IS REVIEWED AGAIN PERIODICALLY AT THE ALL STAFF MEETING AND NEW SIGNATURES ARE OBTAINED. EMPLOYEES, MANAGEMENT AND THE BOARD OF DIRECTORS ARE ASKED TO SHARE UP FRONT ANY POTENTIAL CONFLICTS OF INTEREST. ACCOUNTS ASSOCIATED WITH EMPLOYEES, MANAGEMENT AND BOARD OF DIRECTORS ARE FLAGGED AS EMPLOYEE OR VOLUNTEER ACCOUNTS. FORM 990, PART VI, SECTION B, LINE 15 DENVER COMMUNITY CREDIT UNION USES THE COMPEASE PROGRAM FOR SALARY ADMINISTRATION. THE PROGRAM IDENTIFIES RANGES BASED ON LEVELS OF RESPONSIBILITY FOR THE POSITION IN THE AREAS OF: EXPERIENCE, EDUCATION, MANAGERIAL RESPONSIBILITY, INTERPERSONAL SKILLS, INDEPENDENT JUDGMENT, MENTAL PROCESS, ORGANIZATIONAL IMPACT, AND ORGANIZATIONAL RESTRAINT. ANNUAL UPDATES TO SALARY RANGES ARE RECEIVED FROM COMPEASE. MID-RANGE OF EACH GRADE IS CONSIDERED MARKET PRICE FOR POSITIONS WITHIN THAT GRADE. FOR THE CEO POSITION: IN JANUARY, COMPENSATION DATA FROM COMPEASE, AS WELL AS SALARY SURVEY INFORMATION FROM MOUNTAINS STATES EMPLOYERS COUNCIL AND FROM CUES (CREDIT UNION EXECUTIVE SOCIETY), IS PROVIDED TO THE BOARD OF DIRECTORS BY THE VICE PRESIDENT - HUMAN RESOURCES, ALONG WITH ANY PERTINENT ARTICLES REGARDING CEO COMPENSATION. THE DIRECTORS INDIVIDUALLY COMPLETE A PERFORMANCE REVIEW FORM RATING THE CEO IN OVERALL ASSESSMENT, PERFORMANCE OBJECTIVES, AND STRATEGIC POSITIONING. THE BOARD CHAIR COMBINES THE RATINGS AND PREPARES THE NARRATIVE. THE BOARD MEETS IN EXECUTIVE SESSION TO DETERMINE THE SALARY AND/OR BONUS TO BE PAID. THE REVIEW IS DELIVERED BY THE CHAIRMAN. ANY SALARY INCREASES ARE EFFECTIVE JANUARY 1 AS DEFINED IN THE CEO CONTRACT. THE IRS TAX FORM 990 DATA IS SHARED WITH THE BOARD OF DIRECTORS. FOR EXECUTIVE MANAGEMENT POSITIONS: A SIMILAR FORMAT PERFORMANCE EVALUATION IS COMPLETED ON EXECUTIVE MANAGERS BY THE CEO. SALARY INCREASES BASED ON PERFORMANCE AND LENGTH OF TENURE IN POSITION AND PLACEMENT IN THE GRADE ARE MADE BY THE CEO. ALL REVIEWS AND INCREASES ARE TO BE COMPLETED BY THE FIRST PAY PERIOD IN MARCH. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE CREDIT UNION. MONTHLY FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. SUMMARIZED FINANCIAL INFORMATION IS AVAILABLE ON THE CREDIT UNION'S WEBSITE. QUARTERLY FINANCIAL DATA IS ACCESSIBLE TO THE PUBLIC AT WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: CHANGE OF ACCOUNTING PRINCIPLE -1,439,026. CREDIT UNION LENDING SOURCE LLC 1075 ACOMA STREET DENVER CO 80204 FIRST MORTGAGE LOAN ORIGINATION SERVICES CO 0 96930 DENVER COMMUNITY CREDIT UNION DENVER COMMUNITY INSURANCE SERVICES LLC 1075 ACOMA STREET DENVER CO 80204 INSURANCE SERVICES CO 0 0 DENVER COMMUNITY CREDIT UNION