2023-11-13T09:37:56-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2022-01-01 860108770 ONEAZ CREDIT UNION ONEA 6024674088 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 MICHAEL BODEN EVP CFO 6024674094 2023-11-08 1 MICHAEL BODEN 999009999 0 MELISSA HANGSLEBEN P02087031 6022662248 2023-11-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRANDON MICHAELS 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 242762527 0 X WWW.ONEAZCU.COM X 1951 AZ A FINANCIAL COOPERATIVE PROVIDING MEMBERS WITH FINANCIAL SERVICES. 9 9 647 13 456706 0 0 0 92176215 101505251 11047984 20710361 2184991 4973820 105409190 127189432 428383 764440 3617367 4165387 45317311 58548423 0 0 0 43788976 48506913 93152037 111985163 12257153 15204269 3043080305 3270651500 2815949766 3085222848 227130539 185428652 TO PROVIDE OUR MEMBER-OWNERS WITH RESPONSIVE SERVICE, CONVENIENT ACCESS, CONSUMER EDUCATION, AND VALUE-ADDED FINANCIAL AND RELATED PRODUCTS AND SERVICES, IN A FISCALLY SOUND MANNER. 0 0 THE CREDIT UNION PROVIDES CHECKING AND SAVINGS DEPOSIT ACCOUNTS AS WELL AS CONSUMER, REAL ESTATE AND BUSINESS LOANS TO ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 65359 0 1 647 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MICHAEL BODEN 6024674094 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 MARTHA ROZEN DIRECTOR 2.00 0.00 X 28500 0 0 GEORGANNA MEYER VICE CHAIRMAN 2.00 0.00 X X 24983 0 0 RAY O'CONNOR DIRECTOR 2.00 0.00 X 25498 0 0 MARQUETTA WHITE DIRECTOR 2.00 0.00 X 25774 0 0 PEARLETTE RAMOS SECRETARY 2.00 0.00 X X 26000 0 0 JON BORGE CHAIRMAN 2.00 0.00 X X 22500 0 0 RYAN WILLIAMS TREASURER 2.00 0.00 X X 20000 0 0 SAM WHEELER DIRECTOR 2.00 0.00 X 26000 0 0 ED SANCHEZ DIRECTOR 2.00 0.00 X 21640 0 0 RICHARD K REEDY CEO/PRESIDENT 40.00 2.00 X 1381638 0 293565 MICHAEL BODEN EVP CFO 40.00 1.00 X 498267 0 150365 LAURA WORZELLA EVP COO 40.00 0.00 X 480400 0 152809 MICHAEL EMANUELLI EVP CAO 40.00 0.00 X 496186 0 129430 DEBORAH PEARSON EVP STRATEGY & BRAND 40.00 5.00 X 528811 0 130314 KEN BAUER EVP CLO 40.00 0.00 X 412397 0 139082 SASSAN AZHADI SVP CIO 40.00 0.00 X 324000 0 63370 BRIAN JOHNSON SVP BUSINESS PLANNING 40.00 0.00 X 231168 0 40761 THOMAS MITCHELL SVP WEALTH MANAGEMENT 40.00 0.00 X 251851 0 60034 BEAM CHIP GRIFFITH SVP RETAIL SALES & OPERATIONS 40.00 0.00 X 252369 0 20629 KRISTEN RENEE SVP REVENUE OPTIMIZATION & MARKET 40.00 0.00 X 219391 0 47267 TAMMY PAQUETTE WEALTH ADVISOR 40.00 0.00 X 322813 0 22171 MIGUEL MALDONADO REGIONAL PRESIDENT 40.00 0.00 X 242862 0 26438 LISA HAGINS REGIONAL PRESIDENT 40.00 0.00 X 241842 0 28910 TORREY JEWETT WEALTH ADVISOR 40.00 0.00 X 266213 0 8114 MICHAEL SAMMONS WEALTH ADVISOR 40.00 0.00 X 318198 0 24895 6689301 0 1338154 118 0 1 0 PSCU 560 CARILLON PKWY ST PETERSBURG FL 33716 CREDIT & DEBIT CARD PROCESSING 4783081 GOOGLE PO BOX 39000 SAN FRANCISCO CA 94139 DIGITAL MARKETING 2677993 DBSI INC 6950 W MORELOS PL CHANDLER AZ 85226 BRANCH DESIGN AND MAINTENANCE 2593209 VISA USA INC PO BOX 8999 SAN FRANCISCO CA 94128 CREDIT & DEBIT CARD PROCESSING 2105844 LUMIN DIGITAL 3001 BISHOP DR SUITE 110 SAN RAMON CA 94583 ONLINE AND MOBILE BANKING 2085530 86 INTEREST ON LOANS 522100 63364331 63364331 FEES AND CHARGES 522100 17918974 17462268 456706 INTERCHANGE INCOME 522100 16272132 16272132 GAIN ON SALE OF LOANS 522100 3949814 3949814 101505251 21901441 21901441 875362 23110 852252 852252 852252 114358905 115542879 7106 -1183974 -7106 -1191080 -1191080 MISCELLANEOUS INCOME 900099 4121568 4121568 4121568 127189432 101048545 456706 25684181 764440 4165387 5983892 37141495 8427940 4096781 2898315 382510 196653 2042803 5939170 2654139 9270944 4924495 1018585 906396 926097 2675002 CREDIT CARD EXPENSES 8741640 LOAN AND BANKING FEES 5239989 ONLINE BANKING EXPENSES 2619304 ATM EXPENSES 969186 111985163 145363668 79078500 53500000 4185585 2716098 1445863085 1883612899 8102753 8255028 109388138 41848143 66211865 67539995 1236815152 1143243392 41521257 42991027 41516940 43214561 3043080305 3270651500 15441454 18766146 100000000 2800508312 2966456702 2815949766 3085222848 X 0 0 0 0 227130539 185428652 227130539 185428652 3043080305 3270651500 X 15204269 -93545973 36639817 X 0 1 X 1 0 26823178 26823178 57331601 20612736 36718865 2610344 2487033 123311 22494635 18748374 3746261 128380 128380 67539995 MEMBERS' SHARE AND SAVINGS ACCOUNTS 2966456702 2966456702 X 127212542 0 127212542 -23110 -23110 127189432 86848958 -25136205 -25136205 111985163 0 111985163 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED FROM THE FUNCTIONAL EXPENSE SCHEDULE -23,110. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED FROM THE FUNCTIONAL EXPENSE SCHEDULE 23,110. RECPATURE OF LOAN LOSSES MOVED TO PART XI OF THE FORM 990 -25,159,315. 1 ONEAZ COMMUNITY FOUNDATION 2355 W PINNACLE PEAK RD PHOENIX AZ 85027 461959069 501(C)(3) 451595 0 UNRESTRICTED LOCAL FIRST ARIZONA 407 E ROOSEVELT ST PHOENIX AZ 85004 202626253 501(C)(6) 52500 0 UNRESTRICTED BANZAI INC 2230 N UNIVERSITY PKWY 14 PROVO UT 84604 260233660 37000 0 UNRESTRICTED STATE EMPLOYEE CHARITABLE CAMPAIGN 100 N 15TH AVE STE 401 PHOENIX AZ 85007 866004791 STATE OF ARIZONA 20000 0 UNRESTRICTED ONE COMMUNITY FOUNDATION PO BOX 17836 PHOENIX AZ 85013 460716958 501(C)(3) 20000 0 UNRESTRICTED WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 391143339 501(C)(6) 10000 0 UNRESTRICTED GIRL SCOUTS OF SOUTHERN ARIZONA 4300 E BROADWAY BLVD TUCSON AZ 85711 860098917 501(C)(3) 10000 0 UNRESTRICTED PRESCOTT FRONTIER DAYS INC 840 RODEO DRIVE BLDG D PRESCOTT AZ 86305 953382739 501(C)(4) 9000 0 UNRESTRICTED THE NATIONAL CREDIT UNION FOUNDATION 4703 MADISON YARDS WAY SUITE 300 MADISON WI 53705 391383650 501(C)(3) 7500 0 UNRESTRICTED TUSCON RODEO PARADE COMMITTEE INC 4823 S 6TH AVE TUCSON AZ 85714 860562012 501(C)(3) 7500 0 UNRESTRICTED CHANDLER COMPADRES INC PO BOX 11038 CHANDLER AZ 85248 990209180 501(C)(3) 7500 0 UNRESTRICTED HABITAT FOR HUMANITY CENTRAL ARIZONA 2830 W GLENDALE AVE PHOENIX AZ 85051 742401708 501(C)(3) 6400 0 UNRESTRICTED 8 4 PART I, LINE 2: DONATIONS ARE APPROVED BY THE BOARD IN THE ANNUAL BUDGETING PROCESS WITH APPROVED DONATIONS ADMINISTERED AND MONITORED THROUGHOUT THE YEAR BY SENIOR MANAGEMENT. X X X X 0 1 0 RICHARD K REEDY CEO/PRESIDENT 604193 0 261914 0 515531 0 278601 0 14964 0 1675203 0 468307 0 DEBORAH PEARSON EVP STRATEGY & BRAND 296517 0 59899 0 172395 0 114827 0 15487 0 659125 0 152842 0 MICHAEL BODEN EVP CFO 408913 0 73576 0 15778 0 138696 0 11669 0 648632 0 0 0 LAURA WORZELLA EVP COO 413139 0 67261 0 0 0 137322 0 15487 0 633209 0 0 0 MICHAEL EMANUELLI EVP CAO 348534 0 64895 0 82757 0 108262 0 21168 0 625616 0 0 0 KEN BAUER EVP CLO 340223 0 72174 0 0 0 118382 0 20700 0 551479 0 0 0 SASSAN AZHADI SVP CIO 265483 0 58517 0 0 0 51235 0 12135 0 387370 0 0 0 TAMMY PAQUETTE WEALTH ADVISOR 29358 0 293455 0 0 0 7625 0 14546 0 344984 0 0 0 MICHAEL SAMMONS WEALTH ADVISOR 34776 0 283422 0 0 0 7625 0 17270 0 343093 0 0 0 THOMAS MITCHELL SVP WEALTH MANAGEMENT 218644 0 33207 0 0 0 40420 0 19614 0 311885 0 0 0 TORREY JEWETT WEALTH ADVISOR 29844 0 236369 0 0 0 6809 0 1305 0 274327 0 0 0 BEAM CHIP GRIFFITH SVP RETAIL SALES & OPERATIONS 221692 0 21655 0 9022 0 12407 0 8222 0 272998 0 0 0 BRIAN JOHNSON SVP BUSINESS PLANNING 198273 0 32895 0 0 0 32488 0 8273 0 271929 0 0 0 LISA HAGINS REGIONAL PRESIDENT 173662 0 68180 0 0 0 9317 0 19593 0 270752 0 0 0 MIGUEL MALDONADO REGIONAL PRESIDENT 172142 0 70720 0 0 0 12163 0 14275 0 269300 0 0 0 KRISTEN RENEE SVP REVENUE OPTIMIZATION & MARKET 204283 0 15108 0 0 0 27002 0 20265 0 266658 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS A 457F NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF MANAGEMENT. THE FOLLOWING EMPLOYEES RECEIVED DISTRIBUTIONS FROM THIS PLAN DURING 2022: RICHARD K. REEDY - $468,307 DEBORAH PEARSON - $152,842 THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS FROM THIS PLAN DURING 2022: RICHARD K. REEDY - $270,976 MICHAEL EMANUELLI - $100,637 MICHAEL BODEN - $120,469 DEBORAH PEARSON - $98,374 LAURA WORZELLA - $119,435 KEN BAUER - $102,822 SASSAN AZHADI - $37,702 BRIAN JOHNSON - $27,567 THOMAS MITCHELL - $28,940 KRISTEN RENEE - $16,813 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD SHALL APPOINT A STANDING EXECUTIVE COMMITTEE TO ACT FOR IT AS PERMITTED AND AUTHORIZED BY APPLICABLE LAW. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIRPERSON, VICE-CHAIRPERSON, SECRETARY AND TREASURER. THE EXECUTIVE COMMITTEE SHALL MEET AS OFTEN AS NECESSARY. THE EXECUTIVE COMMITTEE SHALL MEET WHEN CALLED INTO SESSION BY THE CHAIRPERSON OR ANY TWO (2) OTHER MEMBERS OF THE COMMITTEE. THREE (3) MEMBERS OF THE EXECUTIVE COMMITTEE SHALL CONSTITUTE A QUORUM TO TAKE ACTION. THE DUTIES OF THE EXECUTIVE COMMITTEE SHALL BE: (1) TO ESTABLISH, JOINTLY WITH THE PRESIDENT/CEO FOR RECOMMENDATION TO THE BOARD, THE ANNUAL GOALS AND OBJECTIVES THE CREDIT UNION, (2) TO REVIEW AND REPORT TO THE BOARD ON THE PRESIDENT/CEO'S PERFORMANCE AND SALARY; (3) TO ACT FOR THE BOARD, SUBJECT TO ITS RATIFICATION, ON MATTERS OF URGENCY WHEN A MEETING OF THE BOARD CANNOT BE CONVENED IN TIME; AND (4) TO PERFORM ANY OTHER FUNCTION DEEMED USEFUL, SUBJECT TO THE BOARD'S RATIFICATION. AT ALL MEETINGS OF THE EXECUTIVE COMMITTEE, EACH DIRECTOR PRESENT SHALL HAVE ONE VOTE ON ANY MATTER AND EXCEPT AS OTHERWISE PROVIDED BY APPLICABLE LAW OR THESE BYLAWS, THE ACTION OF A MAJORITY OF EXECUTIVE COMMITTEE MEMBERS AT A MEETING SHALL BE THE ACT OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 ONEAZ CREDIT UNION IS OWNED BY THE MEMBERS WHO BANK WITH US. EACH MEMBER HOLDS ONE SHARE SAVINGS ACCOUNT WITH A MINIMUM DEPOSIT OF $5. PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS CONSISTS OF THOSE WHO LIVE, WORK, WORSHIP, OR GO TO SCHOOL IN ONE OF THE FIFTEEN ARIZONA COUNTIES. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD, OR ADOPTIVE RELATIVES OF EITHER OF THEM, AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE NOMIMATED FROM THE GENERAL MEMBERSHIP THROUGH THE FOLLOWING PROCESS: NOTICE OF THE ANNUAL ELECTION IS COMMUNICATED TO EACH MEMBER; INTERESTED MEMBERS SUBMIT AN APPLICATION; A BOARD APPOINTED NOMINATING COMMITTEE SCREENS AND INTERVEIWS CANDIDATES TO RECOMMEND FOR THE BALLOT; ELECTRONIC VOTING IS OPENED TO MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN ORGANIZATIONAL ITEMS, SUCH AS CHARTER, MERGER, OR BOARD GOVERNANCE ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B FILING OF FORM 990 HAS BEEN DELEGATED TO MANAGEMENT. AS SUCH, INPUTS ARE COMPILED BY ACCOUNTING AND HR STAFF; REVIEWED BY THE EVP CFO & COO AND PROVIDED TO OUR OUTSORCED ACCOUNTING FIRM FOR COMPLETION OF THE FORM 990. PRIOR TO FILING THE FINAL FORM 990, IT IS REVIEWED BY THE EVP CFO & COO AND SHARED WITH THE CEO. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION MONITORS AND ENSURES CONFLICT OF INTEREST COMPLIANCE THROUGH BOTH PREVENTATIVE AND DETECTIVE CONTROLS EMBEDED IN PROCEDURES SUCH AS HUMAN RESOURCES HIRING, THIRD-PARTY VENDOR MANAGEMENT AND LOAN APPLICATIONS AND UNDERWRITING PROCESSES. ANNUALLY A WRITTEN ACKNOWLEDGEMENT BY EACH ASSOCIATE AND VOLUNTEER DOCUMENTING THEIR UNDERSTANDING AND COMPLIANCE WITH THE CODE OF CONDUCT AND BUSINESS ETHICS POLICY IS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15 WE ENGAGE CREDIT UNION COMPENSATION EXPERTS TO DETERMINE SALARY RANGES AND MARKET PRICING FOR THE PHOENIX AREA FOR ALL EMPLOYEES, INCLUDING THE CEO AND EXECUTIVE OFFICERS. SALARY RANGES ARE REVIEWED EVERY YEAR TO ENSURE MARKET EQUITY IS IN LINE WITH OUR "TOTAL COMPENSATION" PHILOSOPHY. WE ALSO COMPLETE COMPENSATION SURVEYS WITH OTHER COMPENSATION ANALYSTS TO ENSURE A BROADER SAMPLING. THIRD-PARTY AND INDUSTRY EXPERT ANALYSIS AROUND SALARY AND COMPENSATION ARE PROVIDED TO THE BOARD BUDGET COMMITTEE AND THE BOARD COMPENSATION COMMITTEE. THESE TWO BOARD COMMITTEES MAKE RECOMMENDATIONS TO THE FULL BOARD FOR APPROVAL OF ACCEPTING THE RANGES PRESENTED BASED ON THE DATA, ENSURING COMPENSATION IS IN LINE WITH THE MARKET AND THE CREDIT UNION "TOTAL COMPENSATION" PHILOSOPHY. ALL DISCUSSIONS & DECISIONS ARE DOCUMENTED IN MEETING MINUTES. CEO COMPENSATION IS SET AND APPROVED BY THE COMPENSATION COMMITTEE AND BOARD OF DIRECTORS BASED ON THE THIRD-PARTY NATIONAL, REGIONAL AND LOCAL COMPENSATION DATA PROVIDING SALARY RANGES AND OTHER RELATIVE DATA POINTS AROUND TOTAL COMPENSATION AND BENEFITS OVERALL. EXECUTIVE OFFICER COMPENSATION IS DELEGATED FROM THE BOARD OF DIRECTORS TO THE CEO AND IS SET IN CONSULTATION WITH CHIEF ADMINISTRATION OFFICER BASED ON THIRD-PARTY NATIONAL, REGIONAL AND LOCAL COMPENSATION DATA PROVIDING SALARY RANGES AND OTHER RELATIVE DATA POINTS AROUND TOTAL COMPENSATION AND BENEFITS OVERALL AND THE BOARD'S APPROVAL OF THE ANNUAL OPERATING BUDGET. FORM 990, PART VI, SECTION C, LINE 19 REGULATORY FINANCIAL REPORTS PROVIDED BY NCUA.GOV ARE PROVIDED UPON REQUEST. THE CREDIT UNION ALSO POSTS A COPY OF THE MONTHLY STATEMENT OF FINANCIAL CONDITION IN ALL OF THE BRANCHES. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN DEFINED BENEFIT PENSION PLAN ASSETS 11,480,498. RECAPTURE OF LOAN LOSSES 25,159,319. ARIZONA FINANCIAL NETWORK LLC 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 481267437 INSURANCE BROKERAGE AZ 0 2500 ONEAZ CREDIT UNION ONEAZ COMMUNITY FOUNDATION INC 2355 W PINNACLE PEAK RD PHOENIX AZ 85027 461959069 PHILANTRROPIC,EDUCATIONAL,CHARITABLE ACTIVITIES AIMED AT AZ COMMUNITIES AZ 501(C)(3) LINE 7 ONEAZ CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ONEAZ COMMUNITY FOUNDATION B 451595 CASH