2022-09-26T12:25:43-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2021-01-01 866050959 TRUWEST CREDIT UNION TRUW 6026292062 1667 N PRIEST DRIVE TEMPE AZ 85288 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 6026292062 2022-09-13 1 MICHAEL WARD 999009999 MARY C GREEN P00447183 6022662248 2022-09-13 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z X ALAN ALTHOUSE 1667 N PRIEST DRIVE TEMPE AZ 85288 70200041 0 X WWW.TRUWEST.ORG X 1952 AZ A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 9 9 318 14 860510 0 0 0 64474288 60777303 5456622 3167365 54505 84349 69985415 64029017 174374 204784 5971035 3184007 29196262 30160855 0 0 0 23322028 18732563 58663699 52282209 11321716 11746808 1368227248 1519187668 1231668014 1375908211 136559234 143279457 A COOPERATIVE PROVIDING TRUSTED FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 0 0 THE CREDIT UNION PROVIDES ITS MEMBER-OWNERS LOW COST FINANCIAL SERVICES INCLUDING FINANCIAL PLANNING. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21123 0 318 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X MICHAEL WARD 6026292063 1667 N PRIEST DRIVE TEMPE AZ 85288 RICK O'CONNOR CHAIRMAN 5.00 X X 17175 0 0 SUSANNA DEFRANCO SECRETARY 1.00 X X 11025 0 0 SCOTT JOHS TREASURER 1.50 X X 13117 0 0 MIKE VASKO DIRECTOR 1.00 X 11250 0 0 TIM NIESZ DIRECTOR 1.00 X 11175 0 0 MIKE MOULTON VICE CHAIRMAN 1.00 X X 11025 0 0 THOMAS CUMMISKEY DIRECTOR 1.00 X 11175 0 0 JEFF HOMER DIRECTOR 1.00 X 8325 0 0 DAVE HOLODY DIRECTOR 1.00 X 8325 0 0 ALAN ALTHOUSE PRESIDENT & CEO 40.00 X 978399 0 190950 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 40.00 X 553792 0 133234 FRED FARBOD SVP CHIEF LENDING OFFICER 40.00 X 336645 0 137196 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 40.00 X 321453 0 125000 JEFF PEABODY SVP CHIEF MARKETING OFFICER 40.00 X 484121 0 70641 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 40.00 X 284360 0 121522 ALYSSE MEDINA SVP AND CHIEF LEGAL OFFICER 40.00 X 238832 0 68281 JENNIFER KIMMELL SVP CHIEF MARKETING OFFICER 40.00 X 215121 0 40518 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 40.00 X 558365 0 41796 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 40.00 X 523603 0 33345 BRENT CATTANI FINANCIAL ADVISOR II 40.00 X 456819 0 43349 KELLY ARGALL MORTGAGE LOAN OFFICER 40.00 X 406227 0 33882 JESUS PEREZ MORTGAGE LOAN OFFICER 40.00 X 309916 0 41796 5770245 0 1081510 62 0 1 0 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ONLINE BANKING & ATM MAINTENANCE 2375449 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 CREDIT & DEBIT CARD SERVICES 2221891 FISERV PO BOX 208457 DALLAS TX 85320 CORE PROCESSING SYSTEM 618976 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 DOCUMENT PRODUCTION 432906 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 OVERFLOW/AFTER-HOURS CONTACT CENTER 371496 26 LOAN INTEREST INCOME 522100 41193059 41193059 INTERCHANGE INCOME 522100 6481569 6481569 FEES AND CHARGES 522100 5368486 5200800 167686 GAIN ON SALE OF LOANS HELD FOR SA 522100 4483832 4483832 WEALTH MANAGEMENT COMMISSIONS 522100 3235688 2542864 692824 14669 14669 60777303 3270648 3270648 63406 63406 4770750 1296991 4981671 1189353 -210921 107638 -103283 -103283 MISCELLANEOUS INCOME 522100 20943 20943 20943 64029017 59916793 860510 3251714 184784 20000 3184007 4402657 20017302 1155603 2937124 1648169 657401 191352 4783536 -251202 511160 4190018 2594754 45799 180335 1648778 49802 OTHER STAFF EXPENSES 1203334 ACCOUNT PROCESSING 1167844 ATM SERVICE COSTS 1083408 ASSOCIATION DUES 258284 417960 52282209 21284317 28028319 147217579 268837877 757354 526275 971739245 939151364 4009659 4691052 33375576 20860667 13255353 12514909 155626288 226740006 10384050 10828763 43953403 27869103 1368227248 1519187668 15468864 11053779 1216199150 1364854432 1231668014 1375908211 X 0 0 0 0 136559234 143279457 136559234 143279457 1368227248 1519187668 X 11746808 -5853255 826670 X 0 1 X 1 0 5587184 5587184 12390913 7204074 5186839 15397479 13656593 1740886 12514909 DEFERRED COMPENSATION LIABILITY 1721230 MEMBER DEPOSIT ACCOUNTS 1363133202 1364854432 X 64029017 0 64029017 0 64029017 51382209 -900000 -900000 52282209 0 52282209 PART X, LINE 2: THE CREDIT UNION PAYS MOST TAXES, EXCEPT FOR FEDERAL AND STATE INCOME TAXES AS THEY ARE EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14). THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: CREDIT FOR LOAN LOSSES MOVED FROM EXPENSES TO PART XI OF THE FORM 990 -900,000. 1 PHOENIX CHILDREN'S HOSPITAL 2929 E CAMELBACK ROAD SUITE 122 PHOENIX AZ 850164425 860422559 501(C)(3) 54000 0 N/A N/A UNRESTRICTED MOUNTAIN WEST CREDIT UNION ASSOCIATION 2020 NORTH CENTRAL AVENUE SUITE 530 PHOENIX AZ 85004 840375111 501(C)(6) 7509 0 N/A N/A UNRESTRICTED DELL CHILDREN'S MEDICAL CENTER FOUNDATION 4900 MUELLER BLVD AUSTIN TX 78723 200468031 501(C)(3) 13000 0 N/A N/A UNRESTRICTED AMERICAN LUNG ASSOCIATION 102 W MCDOWELL RD PHOENIX AZ 85003 860111676 501(C)(3) 60575 0 N/A N/A UNRESTRICTED MARICOPA COMMUNITY COLLEGES FOUNDATION 2419 W 14TH ST TEMPE AZ 852816942 860327449 501(C)(3) 40000 0 N/A N/A UNRESTRICTED 4 1 SCHOLARSHIPS 9 20000 0 N/A N/A PART I, LINE 2: THE CHECKS ARE ISSUED DIRECTLY TO THE ORGANIZATIONS AND TO THE INDIVIDUAL'S SCHOOL IN THE UNITED STATES. X X 1 1 X X X X 0 1 0 ALAN ALTHOUSE PRESIDENT & CEO 490887 0 79549 0 407963 0 174250 0 16700 0 1169349 0 350000 0 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 316129 0 51907 0 185756 0 116534 0 16700 0 687026 0 170000 0 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 17612 0 507162 0 33591 0 18850 0 22946 0 600161 0 0 0 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 33481 0 489598 0 524 0 17400 0 15945 0 556948 0 0 0 JEFF PEABODY SVP CHIEF MARKETING OFFICER 75411 0 38205 0 370505 0 61660 0 8981 0 554762 0 334154 0 BRENT CATTANI FINANCIAL ADVISOR II 36740 0 419792 0 287 0 20300 0 23049 0 500168 0 0 0 FRED FARBOD SVP CHIEF LENDING OFFICER 269448 0 47451 0 19746 0 121409 0 15787 0 473841 0 0 0 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 272982 0 43773 0 4698 0 101234 0 23766 0 446453 0 0 0 KELLY ARGALL MORTGAGE LOAN OFFICER 31198 0 374427 0 602 0 18850 0 15032 0 440109 0 0 0 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 238713 0 37271 0 8376 0 99403 0 22119 0 405882 0 0 0 JESUS PEREZ MORTGAGE LOAN OFFICER 14666 0 288911 0 6339 0 18850 0 22946 0 351712 0 0 0 ALYSSE MEDINA SVP AND CHIEF LEGAL OFFICER 199373 0 34353 0 5106 0 52594 0 15687 0 307113 0 0 0 JENNIFER KIMMELL SVP CHIEF MARKETING OFFICER 194608 0 17696 0 2817 0 16850 0 23668 0 255639 0 0 0 PART I, LINE 4B DEFERRED COMPENSATION PLAN [SECTION 457(F)] - THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF EXECUTIVE MANAGEMENT. THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS TO THE PLAN DURING CALENDAR 2021. ALAN ALTHOUSE, PRESIDENT & CEO - $152,500 GARY BERNARD, CHIEF OPERATING OFFICER - $93,334 FRED FARBOD, CHIEF LENDING OFFICER - $99,659 CHRIS KEARNEY, CHIEF INFORMATION OFFICER - $82,384 ALYSSE MEDINA, CHIEF LEGAL OFFICER - $38,042 JEFF PEABODY, CHIEF MARKETING OFFICER - $42,810 MICHAEL WARD, CHIEF FINANCIAL OFFICER - $81,339 THE FOLLOWING EMPLOYEE HAD A DISTRIBUTION FROM THE 457(F) PLAN DURING 2021: ALAN ALTHOUSE - $350,000 GARY BERNARD - $170,000 JEFF PEABODY - $334,154 FORM 990, PART VI, SECTION A, LINE 1A THE CREDIT UNION HAS AN EXECUTIVE COMMITTEE THAT HAS BEEN GIVEN AUTHORITY TO MAKE VARIOUS DECISION ON BEHALF OF THE GOVERNING BODY, SUCH AS COMPENSATION AND 457F PLAN CONTRIBUTION AND DISTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION UPDATED ITS BYLAWS TO MODIFY SECTION 4 "MEETINGS OF MEMBERS." THE CHANGES ADD FLEXIBILITY TO THE FORMAT IN WHICH THE ORGANIZATION'S ANNUAL MEETING IS CONDUCTED, AND ALSO POINTS TO A BOARD POLICY, WHICH ESTABLISHES THE MECHANISM FOR DETERMINING A QUORUM AT THE ORGANIZATION'S ANNUAL MEETING OF ITS MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 6 PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS GENERALLY CONSISTS OF THOSE WHO LIVE, ATTEND SCHOOL, OR WORK IN MARICOPA, PINAL, YAVAPAI, AND PIMA COUNTIES IN ARIZONA, THOSE WHO LIVE OR WORK IN TRAVIS AND WILLIAMSON COUNTIES IN TEXAS, AND THOSE WHO ARE MEMBERS OF AN APPROVED COMMON BOND INTEREST GROUP. 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 MEMBERS OF THE CREDIT UNION ELECT THE GOVERNING BODY OF THE INSTITUTION. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS SUCH AS MERGERS AND CONVERSIONS TO A DIFFERENT CHARTER TYPE REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE EXECUTIVE COMMITTEE FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. THE BOARD IS THEN GIVEN A COPY OF THE RETURN FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION REGULARLY MONITORS AND REVIEWS ACTIVITY OF THE ENTITY FOR POTENTIAL CONFLICTS. FOR EXAMPLE, ALL LOANS TO MEMBERS OF THE BOARD OF DIRECTORS ARE UNDERWRITTEN BY STAFF USING STANDARD UNDERWRITING GUIDELINES FOR ALL MEMBERS, WITH THE SAME RATES AND TERMS AVAILABLE TO ALL MEMBERS, AND THEN REPORTED TO AND RATIFIED BY THE FULL BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED DURING 2021. FORM 990, PART VI, SECTION B, LINE 15 HRN PERFORMANCE SOLUTIONS IS A THIRD PARTY COMPANY THAT SPECIALIZES IN COMPENSATION. HRN GATHERS DATA FROM 700 CREDIT UNIONS ACROSS THE UNITED STATES AND DEVELOPS THE CREDIT UNIONS SALARY RANGES BASED ON COMPARABLE ASSET SIZE AND GEOGRAPHICAL LOCATION. THE CREDIT UNION ALSO UTILIZES CUES SALARY SURVEY AND CUNA EXECUTIVE COMPENSATION SURVEY TO REVIEW THE CEO'S COMPENSATION. THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. ONCE A DECISION IS MADE, THE CHAIRMAN OF THE BOARD EMAILS THE VICE PRESIDENT OF HUMAN RESOURCES WITH THE DECISION. ADDITIONALLY, EVERY JUNE, HRN'S COMPENSATION ANALYSTS REVIEW EACH SENIOR LEADERS JOB DESCRIPTION TO ENSURE THEIR ROLES ARE GRADED PROPERLY COMPARED TO THE MARKET. IF ADDITIONAL INCREASES NEED TO OCCUR, THE CEO MAY BUDGET FOR ADDITIONAL INCREASES. EACH SENIOR LEADER RECEIVES AN ANNUAL MERIT INCREASE BASED ON THE PREVIOUS YEAR-END PERFORMANCE REVIEW. ALL INCREASES ARE ADDED TO THE FINAL BUDGET AND REVIEWED AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S MONTHLY FINANCIAL STATEMENTS ARE DISPLAYED AT ALL THE BRANCH LOCATIONS. THE AUDITED FINANCIALS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN MEMBERSHIP SHARES -73,330. CREDIT FOR LOAN LOSSES 900,000.