2024-11-15T06:15:37+00:00 2023-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2023-01-01 880065951 Clark County Credit Union CLAR 7022282228 PO BOX 36490 LAS VEGAS NV 89133 Patricia Ochal CFO 7022282228 2024-11-15 true true Michael Summers P00838533 3173834000 2024-11-15 2023 2024-10-15 13:58:12Z Patricia Ochal PO BOX 36490 LAS VEGAS NV 89133 73395139 false X WWW.CCCULV.ORG X 1951 NV A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 243 12 688903 174358 0 0 44461515 58076726 8336126 7855970 0 0 52797641 65932696 60108 106983 0 0 17519200 18348017 0 0 0 22509899 34192666 40089207 52647666 12708434 13285030 1144632634 1172665828 1029874810 1039156670 114757824 133509158 BOARD APPROVED MISSION: TO HELP CLARK COUNTY CREDIT UNION MEMBERS REALIZE THEIR FINANCIAL GOALS AND DREAMS. CLARK COUNTY 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 APPROVED BY THE BOARD OF DIRECTORS; PROVIDING AN OPPORTUNITY FOR MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, CLARK COUNTY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. false false DURING 2023, CLARK COUNTY CREDIT UNION MAINTAINED A YEAR-TO-DATE NET WORTH RATIO OF 12.90%. USING A MULTI-MEDIA MARKETING APPROACH COMBINED WITH PERSONAL CUSTOMER SERVICE AND CUSTOMIZED LENDING OPTIONS. CCCU IS LIVING UP TO ITS MISSION OF HELPING MEMBERS REALIZE THEIR FINANCIAL GOALS AND DREAMS. 0 false false false false false false false false true false true false true true false true false false false false false false false false false true false true false true false false false false false false false false false true false false true 32225 0 true 243 true true true false false false false false false false false false false false X 7 7 false false false false true true true true true false true true false true true true false true true true false NV X X PATRICIA OCHAL 7029393143 PO BOX 36490 LAS VEGAS NV 89133 ALISE HANEY BOARD MEMBER 1.0 0.0 X 0 0 0 DEBBIE CONWAY BOARD MEMBER 1.0 0.0 X 0 0 0 DOUG SPRING CHAIRMAN OF THE BOARD 1.0 0.0 X 0 0 0 ED ZAGALO BOARD MEMBER 1.0 0.0 X 0 0 0 ERIC JORGENSON BOARD MEMBER 1.0 0.0 X 0 0 0 MICHAEL SCHRAMM BOARD MEMBER 1.0 0.0 X 0 0 0 TED OLIVAS VICE CHAIR OF THE BOARD 1.0 0.0 X 0 0 0 DAVID UPHAM CHIEF OPERATING OFFICER 40.0 0.0 X 251862 0 89661 JOSHUA HALDEMAN CHIEF LENDING OFFICER 40.0 0.0 X 231224 0 16971 MATT KERSHAW CHIEF EXECUTIVE OFFICER 40.0 0.0 X 476411 0 24750 MATTHEW BECKER CHIEF TECHNOLOGY OFFICER 40.0 0.0 X 211599 0 15729 PATRICIA OCHAL CHIEF FINANCIAL OFFICER 40.0 0.0 X 395638 0 13802 SHANNON HILLER CHIEF MARKETING OFFICER 40.0 0.0 X 205277 0 15014 CHRIS SCHLAFFMAN VP COMMERCIAL LENDING MANAGER 40.0 0.0 X 192718 0 19567 IAN POLLEY VP OF CONSUMER LENDING 40.0 0.0 X 151812 0 16571 JOHN GENTILE VP COMMERCIAL LENDING 40.0 0.0 X 160875 0 2976 MICHAEL HENRIKSEN VP CONTROLLER 40.0 0.0 X 153413 0 16680 SHEILA BRYSON DIRECTOR REAL ESTATE LENDING 40.0 0.0 X 154516 0 8442 2585345 0 240163 34 false true false JA Tiberti Construction Co Inc 1806 Industrial Rd Las Vegas NV 89102 Construction Remodel 1922694 Peter J Stoddard 629 Cervantes Dr Henderson NV 89014 Advertising 1226434 Fiserv Inc PO Box 80123 City of Industry CA 91716 Core system 1065701 Q2 Software Inc PO Box 205970 Dallas TX 75320 Online Banking 1046194 ampliFI Loyalty Solutions LLC 1620 Bond St Naperville IL 60563 Credit/Debit Card Rewards 946243 30 0 INTEREST - LOANS 522100 45526364 45526364 INTERCHANGE INCOME 522100 5238915 5028530 210385 SERVICE & MEMBER FEES 522100 4294988 4294988 OTHER OPERATING INCOME 522100 1943070 1464552 478518 GAP INSURANCE 522100 1073389 1073389 0 0 0 0 58076726 8038905 8038905 0 0 6846457 433051 7460623 1820 -614166 431231 -182935 -182935 0 0 0 0 0 65932696 65243793 688903 0 106983 1947938 12772643 796170 1625363 1205903 303274 241755 220338 2929931 1834033 5354671 448323 1258081 86532 14388616 777950 7681 PROVISION FOR LOAN LOSS 3072726 VISA FEES/CHARGES 1644482 BILL PAYER FEES 1029144 LOAN SERVICING 525142 69987 52647666 14522596 13034049 119937354 84721708 1731393 1728963 0 0 1730912 2182445 27752897 11552245 14895303 16200652 183566435 167906642 0 784500515 856117443 23748126 30773926 1144632634 1172665828 14585334 15748513 0 0 1015289476 1023408157 1029874810 1039156670 114757824 133509158 114757824 133509158 1144632634 1172665828 X 13285030 5499166 -32862 X false true X true false 4217265 4217265 15517137 5719591 9797546 1313040 1105620 207420 6495987 4727034 1768953 209468 209468 16200652 LOANS TO MEMBERS 835090699 F LOANS HELD FOR SALE 0 C ASI SHARE INSURANCE 13751403 C ALL OTHER INVESTMENTS 6577531 C INVESTMENT IN CUSOS 697810 C 856117443 Members Shares and Deposits 1023408157 1023408157 X 53970520 5499166 0 0 0 5499166 48471354 17461342 17461342 65932696 35186324 0 0 0 0 0 35186324 0 17461342 17461342 52647666 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED, AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE 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 POSITIONS ARE SUSTAINED AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2023, MANAGEMENT HAS DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Interest Expense - 14388616 Loan Losses - 3072726 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Interest Expense - 14388616 Loan Losses - 3072726 true Board of Regents Nevada System of Higher Education 2601 Enterprise Rd Reno NV 89512 886000024 501(C)(3) 5500 Scholarships/Sponsorship Children's Miracle Network 205 West 700 South Salt Lake City UT 84101 870387205 501(c)(3) 8107 Sponsorship Henderson Chamber of Commerce 400 N Green Valley Pkwy Henderson NV 89074 880071419 501(C)(6) 11969 Sponsorship Nevada Credit Union League Inc 2855 E Guasti Rd Ontario CA 91761 880106501 501(c)(6) 15000 Membership Dues Roseman University of Health Sciences 11 Sunset Way Henderson NV 89014 880435559 501(c)(3) 5600 Sponsorship 3 2 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. CLARK COUNTY CREDIT UNION VERIFIES THE ORGANIZATON RECEIVING THE GRANT IS A 501(C)(3). NEVADA CREDIT UNION LEAGUE INC. PROVIDES CREDIT UNIONS WITH LEADERSHIP, ADVOCACY, INFORMATION, AND EDUCATION. THE HENDERSON CHAMBER OF COMMERCE ADVANCES THE COMMERCIAL, INDUSTRIAL, CIVIC, AND GENERAL INTEREST OF ITS CHAMBER MEMBERS. THE CITY OF HENDERSON, AND CLARK COUNTY, NEVADA BOTH PROMOTE THE ECONOMIC ENVIRONMENT FOR BUSINESS AND ADVOCATE FOR RESPONSIVE GOVERNMENT. THE BOARD OF REGENTS NEVADA SYSTEM OF HIGHER EDUCATION IS TO PROVIDE HIGH-QUALITY HIGHER EDUCATION TO NEVADA CITIZENS. ROSEMAN UNIVERSITY OF HEALTH SCIENCES ADVANCES THE HEALTH AND WELLNESS OF THE COMMUNITIES THEY SERVE BY EDUCATING CURRENT AND FUTURE GENERATIONS OF HEALTH PROFESSIONALS, CONDUCTING RESEARCH, AND PROVIDING PATIENT CARE. Children's Miracle Network saves the lives of children by raising funds and awareness for local children's hospitals. X true true X false true false MATT KERSHAW CHIEF EXECUTIVE OFFICER 440186 0 36225 0 0 0 24750 0 0 0 501161 0 0 0 PATRICIA OCHAL CHIEF FINANCIAL OFFICER 368888 0 26750 0 0 0 13802 0 0 0 409440 0 0 0 DAVID UPHAM CHIEF OPERATING OFFICER 226612 0 25250 0 0 0 89661 0 0 0 341523 0 0 0 JOSHUA HALDEMAN CHIEF LENDING OFFICER 209074 0 22150 0 0 0 16971 0 0 0 248195 0 0 0 MATTHEW BECKER CHIEF TECHNOLOGY OFFICER 190949 0 20650 0 0 0 15729 0 0 0 227328 0 0 0 SHANNON HILLER CHIEF MARKETING OFFICER 184777 0 20500 0 0 0 15014 0 0 0 220291 0 0 0 CHRIS SCHLAFFMAN VP COMMERCIAL LENDING MANAGER 146767 0 45951 0 0 0 14745 0 4822 0 212285 0 0 0 SHEILA BRYSON DIRECTOR REAL ESTATE LENDING 132397 0 22119 0 0 0 6948 0 1494 0 162958 0 0 0 IAN POLLEY VP OF CONSUMER LENDING 139812 0 12000 0 0 0 11749 0 4822 0 168383 0 0 0 MICHAEL HENRIKSEN VP CONTROLLER 143145 0 10268 0 0 0 11858 0 4822 0 170093 0 0 0 JOHN GENTILE VP COMMERCIAL LENDING 99386 0 61489 0 0 0 0 0 2976 0 163851 0 0 0 Schedule J, Part I, Line 1a Travel for companions CCCU provides companion travel for its volunteer Board Members and CEO to the Volunteer Leadership Institute (VLI) Conference, as well as to the Annual Strategic Planning Meeting with Executive Management. Some (not all) Board Members/Executive Management Officers may bring their spouses to the Annual Strategic Planning Meeting. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan During the year ended December 31, 2017, the Credit Union entered into a split-dollar agreement with the Chief Executive Officer (CEO). Under the arrangement, the Credit Union makes a loan to the executive equal to the life insurance policy premiums. The executive assigns the insurance policy to the Credit Union as collateral for repaying the premiums and borrows from the policy to supplement retirement income. The Credit Union is repaid from the policy's death proceeds. Interest accrues on the loans at the applicable federal rate at the time of the advance. Any principal or interest not repaid under the arrangements is taxable to the executive. During the year ended December 31, 2017, the Credit Union advanced $1,700,000 to the executive in order to cover the premiums. The total funding includes one year of premium and six additional premium commitments of $254,512 per year, held in a premium deposit account at Minnesota Life Insurance Company, currently rated A+ (Superior) by A.M. Best Company, an insurance industry rating agency. The Credit Union records a loan receivable at the lesser of the cash surrender value of the policy or the loan amount plus accrued interest. As of December 31, 2023 and 2022, the balance of the loan to the CEO under this arrangement, net of applicable allowances, was approximately $1,728,963 and $1,731,393, respectively. During the year ended December 31, 2022, the Credit Union entered into a split-dollar agreement with the Chief Lending Officer (CLO) and Chief Marketing Officer (CMO). Under the arrangements, the Credit Union makes a loan to the executive equal to the life insurance policy premiums. The executive assigns the insurance policy to the Credit Union as collateral for repaying the premiums and borrows from the policy to supplement retirement income. The Credit Union is repaid from the policy's death proceeds. Interest accrues on the loans at the applicable federal rate at the time of the advance. Any principal or interest not repaid under the arrangements is taxable to the executive. During the year ended December 31, 2022, the Credit Union advanced $1,350,000 and $1,200,000 to the CLO and CMO, respectively, in order to cover the premiums. The total funding includes one year of premium and three additional premium commitments of $343,648 and $305,464 per year for the CLO and CMO, respectively, held in a premium deposit account at Minnesota Life Insurance Company, currently rated A+ (Superior) by A.M. Best Company, an insurance industry rating agency. The Credit Union records a loan receivable at the lesser of the cash surrender value of the policy or the loan amount plus accrued interest. As of December 31, 2023 and 2022, the balance of the loans to the CLO under this arrangement, net of applicable allowances, was approximately $1,309,899 and $1,323,186, respectively. As of December 31, 2023 and 2022, the balance of the loan to the CMO under this arrangement, net of applicable allowances, was approximately $1,166,671 and $1,175,441, respectively. DAVID UPHAM (COO) PARTICIPATES IN A 457(F) PLAN. THERE WERE CONTRIBUTIONS TOTALING $71,853 DURING THE CURRENT YEAR. Matthew Kershaw Officer Fund Purchase of Life Insurance X 1700000 1728963 false true true Joshua Haldeman Officer Fund purpose of life insurance X 1350000 1309899 false true true Shannon Hiller Officer Fund Purchase of life insurance X 1200000 1166671 false true true Patricia Ochal Officer RESTRICTED BONUS PLAN X 1386616 1285207 false true true 5490740 Schedule L, Part II LOANS TO AND FROM INTERESTED PERSONS (A) NAME OF PERSONS: MATTHEW KERSHAW, JOSHUA HALDEMAN, AND SHANNON HILLER (C) PURPOSE OF LOAN: FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY Form 990, Part VI, Line 6 Classes of members or stockholders CLARK COUNTY 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. CLARK COUNTY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE GOVERNING BOARD OF CLARK COUNTY 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 ITS BY-LAWS. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders AT THE END OF EACH BOARD MEMBER'S TERM, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO THE CREDIT UNION'S 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, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND VICE PRESIDENT CONTROLLER PRIOR TO SUBMISSION TO THE IRS. THE FORM 990 IS ALSO REVIEWED BY STATE EXAMINERS AND AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM. Form 990, Part VI, Line 12c Conflict of interest policy CLARK COUNTY CREDIT UNION'S HUMAN RESOUCES DEPARTMENT REGULARLY MONITORS AND ENFORCES EMPLOYEE COMPLIANCE REGARDING ANY CONFLICTS OF INTEREST. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE BOARD OF DIRECTORS REVIEWS THE CEO'S SALARY EACH YEAR DURING THE FEBRUARY/MARCH TIMEFRAME. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE CREDIT UNION USES A THIRD PARTY VENDOR TO REVIEW COMPENSATION BY JOB TYPE/GRADE. OTHER EXECUTIVES ARE THEN REVIEWED BY CEO. KEY EMPLOYEES ARE REVIEWED BY THE EXECUTIVE OFFICER THEY REPORT TO. Form 990, Part VI, Line 19 Required documents available to the public CLARK COUNTY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Prior year MABS investment income - -32862; MEMBERS AUTO BROKERAGE INC PO BOX 36490 LAS VEGAS NV 89133 880394216 USED CAR SALES NV CLARK COUNTY CU C Corporation 853556 957164 1.0000 true false false false true false false false false false true false false false true true false true false false