2022-11-15T14:12:11-06:00 2021-12-31 FORVIS LLP 201 N Illinois Street Indianapolis IN 46204 990 2021-01-01 880065951 Clark County Credit Union % PATRICIA OCHAL CLAR 7022282228 PO BOX 36490 LAS VEGAS NV 89133 PATRICIA OCHAL CFO 7022282228 2022-11-15 true Patricia Ochal XXX-XX-XXXX MICHAEL J SUMMERS P00838533 3173834000 2 2021 2022-09-23 18:48:47Z MATTHEW KERSHAW PO BOX 36490 LAS VEGAS NV 89133 49718630 false X WWW.CCCULV.ORG X 1951 NV A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 7 7 249 12 1014370 503485 0 0 38155563 39900310 6931472 6913508 0 0 45087035 46813818 36283 65277 0 0 14333893 13999405 0 0 0 22321636 19063103 36691812 33127785 8395223 13686033 1012890170 1146560292 892100651 1017048838 120789519 129511454 X SEE SCHEDULE O false false DURING 2021, CLARK COUNTY CREDIT UNION GREW 13% IN TOTAL ASSETS WHILE MAINTAINING A NETWORTH RATIO OF 10.93%. 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. false 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 45766 0 true 249 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 X X PATRICIA OCHAL 7029393143 PO BOX 36490 LAS VEGAS NV 89133 MATTHEW KERSHAW CHIEF EXECUTIVE OFFICER 40.0 0.0 X 408978 0 21750 DAVE UPHAM CHIEF OPERATING OFFICER 40.0 0.0 X 237056 0 16775 PATRICIA OCHAL CHIEF FINANCIAL OFFICER 40.0 0.0 X 221663 0 16445 OCTAVIO LOPEZ MORTGAGE LOAN OFFICER 40.0 0.0 X 223961 0 6440 CHRIS SCHLAFFMAN VP COMMERCIAL LENDING MANAGER 40.0 0.0 X 201097 0 19704 FRED HOWARD END 115 CHIEF TECHNOLOGY OFFICER 40.0 0.0 X 205246 0 12597 JOSHUA HALDEMAN CHIEF LENDING OFFICER 40.0 0.0 X 202249 0 14836 SHANNON HILLER CHIEF MARKETING OFFICER 40.0 0.0 X 168586 0 12295 DAWN YOUNG MORTGAGE LOAN OFFICER 40.0 0.0 X 165212 0 8746 OJANG DAWOODI MABS SALES REPRESENTATIVE 40.0 0.0 X 158024 0 13372 JOHN GENTILE VP OF COMMERCIAL LENDING 40.0 0.0 X 151616 0 1864 MATTHEW BECKER BEG 118 CHIEF TECHNOLOGY OFFICER 40.0 0.0 X 141668 0 10075 ED ZAGALO BOARD MEMBER 1.0 0.0 X 0 0 0 LEE HANEY BOARD MEMBER 1.0 0.0 X 0 0 0 TED OLIVAS BOARD MEMBER 1.0 0.0 X 0 0 0 ERIC JORGENSON BOARD MEMBER 1.0 0.0 X 0 0 0 DEBBIE CONWAY BOARD MEMBER 1.0 0.0 X 0 0 0 MICHAEL SCHRAMM BOARD MEMBER 1.0 0.0 X 0 0 0 DOUG SPRING CHAIRMAN OF THE BOARD 1.0 0.0 X 0 0 0 2485356 0 154899 27 false true false FISERV INC PO BOX 80123 CITY OF INDUSTRY CA 91716 CORE SYSTEM 1098190 PETER J STODDARD 629 CERVANTES DRIVE HENDERSON NV 89014 ADVERTISING 896347 AMERICAN SHARE INSURANCE 5656 FRANTZ ROAD DUBLIN OH 43017 DEPOSIT INSURANCE 2283762 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 75320 ONLINE BANKING 844241 ECONOCHECK CORPORATION 3 GRESHAM LANDING STOCKBRIDGE GA 30281 MEMBER BENEFITS 550971 24 0 INTEREST - LOANS 522100 28859423 28859423 INTERCHANGE INCOME 522100 4877377 4670247 207130 SERVICE & MEMBER FEES 522100 3443380 3443380 OTHER OPERATING INCOME 522100 1790472 1309938 480534 GAP INSURANCE 522100 929658 929658 39900310 4419906 4419906 0 0 0 0 0 5398414 2904812 2493602 2493602 2166896 326706 0 0 0 0 0 0 0 0 0 0 46813818 45799448 1014370 65277 0 0 0 1472376 0 10270301 705400 506395 1044933 415716 178535 241170 0 0 0 2580451 1265064 4602516 498326 0 1177051 42943 0 0 4284654 0 728856 355737 PROVISION FOR LOAN LOSS -299289 VISA FEES/CHARGES 1561197 BILL PAYER FEES 840538 LOAN SERVICING 586522 3116 33127785 14242496 10635304 184669209 270185531 0 0 0 0 1684360 1749430 0 0 0 0 0 0 1444613 1392024 23423745 9083553 15731966 14340192 175146630 197395099 0 0 606365944 636870242 0 0 13604952 13992470 1012890170 1146560292 9113263 10406970 0 0 0 0 0 0 0 0 0 0 0 0 0 0 882987388 1006641868 892100651 1017048838 X 0 0 0 0 120789519 129511454 120789519 129511454 1012890170 1146560292 13686033 -4914554 -49544 X false true X true false 4266428 4266428 12612909 4687103 7925806 1242752 1032486 210266 5002815 3363964 1638851 298841 298841 14340192 LOANS TO MEMBERS 617425441 F LOANS HELD FOR SALE 1408958 C ASI SHARE INSURANCE 11761840 C ALL OTHER INVESTMENTS 5510291 C INVESTMENT IN CUSOS 763712 C 636870242 0 MEMBERS SHARES AND DEPOSITS 1006641868 FHLB ADVANCES 0 1006641868 37913899 -4914554 -4914554 42828453 3985365 3985365 46813818 29142420 29142420 3985365 3985365 33127785 SCHEDULE D, PART X, LINE 2 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 DEEEMED 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, 2021, MANAGEMENT HAS DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS. SCHEDULE D, PART XI & XII, LINE 4B OTHER ADJUSTMENTS: INTEREST EXPENSE 4,284,654 LOAN LOSSES (299,289) TOTAL ADJUSTMENT $ 3,985,365 true CLEAN THE WORLD FOUNDATION 2544 E Landstreet Rd Suite 600 Orlando FL 32824 284212487 501(C)(3) 7500 Sponsorship for Purpose of Grant or Assistance ROSEMAN UNIVERSITY OF HEALTH SERVICES 11 Sunset Way Henderson NV 89014 880435559 501(C)(3) 6600 Educational Assistance for Purpose of Grant or Assistance Board of Regents Nevada System of Higher Education 2601 Enterprise Rd RENO NV 89512 886000024 501(C)(3) 6000 Sponsorship for Purpose of Grant or Assistance Friends for Las Vegas Metropolitan PD PO Box 271468 LAS VEGAS NV 89106 880429730 501(C)(3) 5500 Sponsorship for Purpose of Grant or Assistance Nevada Credit Union League Inc 2855 E Guasti Rd Ste 202 ONTARIO CA 91761 880106501 501(C)(6) 10000 Sponsorship for Purpose of Grant or Assistance 4 1 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S.: CLARK COUNTY CREDIT UNION VERIFIES THE ORGANIZATON RECEIVING THE GRANT IS A 501(c)(3). ROSEMAN UNIVERSITY OF HEALTH SCIENCES EDUCATE HEALTHCARE PROFESSIONALS AND ADVANCE HEALTHCARE EDUCATION THROUGH ITS INNOVATIVE EDUCATIONAL MODEL. CLEAN THE WORLD FOUNDATION IS COMMITTED TO IMPROVING THE QUALITY OF LIFE FOR PEOPLE ALL OVER THE WORLD. Board of Regents Nevada System of Higher Education SETS POLICIES AND APPROVES BUDGETS FOR NEVADA'S ENTIRE PUBLIC SYSTEM OF HIGHER EDUCATION. FRIENDS FOR LAS VEGAS METROPOLITAN POLICE DEPARTMENT RAISES FUNDS TO SUPPORT AND SUPPLEMENT LAS VEGAS METROPOLITAN POLICE DEPARTMENT PROGRAMS AND INITIATIVES. NEVADA CREDIT UNION LEAGUE INC PROVIDES CREDIT UNIONS WITH LEADERSHIP, ADVOCACY, INFORMATION, AND EDUCATION. X true true X false true false MATTHEW BECKER BEG 118 CHIEF TECHNOLOGY OFFICER 133934 0 7734 0 0 0 8935 0 1140 0 151743 0 0 0 JOSHUA HALDEMAN CHIEF LENDING OFFICER 189399 0 12850 0 0 0 14836 0 0 0 217085 0 0 0 SHANNON HILLER CHIEF MARKETING OFFICER 158086 0 10500 0 0 0 12295 0 0 0 180881 0 0 0 PATRICIA OCHAL CHIEF FINANCIAL OFFICER 207288 0 14375 0 0 0 16445 0 0 0 238108 0 0 0 FRED HOWARD END 115 CHIEF TECHNOLOGY OFFICER 191646 0 13600 0 0 0 12597 0 0 0 217843 0 0 0 MATTHEW KERSHAW CHIEF EXECUTIVE OFFICER 373978 0 35000 0 0 0 21750 0 0 0 430728 0 0 0 DAVE UPHAM CHIEF OPERATING OFFICER 222681 0 14375 0 0 0 16775 0 0 0 253831 0 0 0 CHRIS SCHLAFFMAN VP COMMERCIAL LENDING MANAGER 127813 0 73284 0 0 0 15352 0 4352 0 220801 0 0 0 OCTAVIO LOPEZ MORTGAGE LOAN OFFICER 39250 0 184711 0 0 0 3819 0 2621 0 230401 0 0 0 DAWN YOUNG MORTGAGE LOAN OFFICER 31040 0 134172 0 0 0 7399 0 1347 0 173958 0 0 0 OJANG DAWOODI MABS SALES REPRESENTATIVE 38802 0 119222 0 0 0 12025 0 1347 0 171396 0 0 0 JOHN GENTILE VP OF COMMERCIAL LENDING 92336 0 59280 0 0 0 1864 0 0 0 153480 0 0 0 PART I, LINE 4B: THE CREDIT UNION ENTERED INTO A SPLIT-DOLLAR AGREEMENT WITH THE 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 LOAN 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, 2021 AND 2020, THE BALANCE OF THE LOAN TO THE CEO UNDER THIS ARRANGEMENT, NET OF APPLICABLE ALLOWANCE, WAS APPROXIMATELY $1,749,430 AND $1,684,000, RESPECTIVELY. MATTHEW KERSHAW OFFICER FUND PURCHASE OF LIF X 1700000 1749430 false true true 1749430 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: (A) NAME OF PERSON: MATTHEW KERSHAW (C) PURPOSE OF LOAN: FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY FORM 990, PART III, LINE 1 DESCRIPTION OF ORGANIZATION MISSION: 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 SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM 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, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. FORM 990, PART VI, SECTION A, LINE 6 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, SECTION A, LINE 7A MEMBERS OF THE 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 PERSCRIBED BY ITS BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B BOARD ELECTIONS: 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, SECTION B, LINE 11B REVIEW OF FORM 990: THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND 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, SECTION B, 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, SECTION B, LINE 15A and 15B REVIEW OF COMPENSATION: THE BOARD OF DIRECTORS REVIEWS THE CEO'S SALARY EACH YEAR DURING THE FEBRUARY/MARCH TIMEFRAME. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS: CLARK COUNTY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO ITS MEMBERS UPON REQUEST. MEMBERS AUTO BROKERAGE INC PO BOX 36490 LAS VEGAS NV 89133 880394216 USED CAR SALES NV CLARK COUNTY CU C CORP 1106510 964005 1.00000 true false false false true false false false false false true false false false true true false true false false MEMBERS AUTO BROKERAGE INC D 60799 LOAN AMOUNT MEMBERS AUTO BROKERAGE INC J,N 54120 RENT AMOUNT MEMBERS AUTO BROKERAGE INC O 621554 PAYROLL AMOUNT MEMBERS AUTO BROKERAGE INC Q 105604 INTEREST REBATE MEMBERS AUTO BROKERAGE INC Q 13800 ACTUAL MKT COST