TRUWEST CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- TRUWEST CREDIT UNION (EIN 86-6050959)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-07-28
- IRS object ID
- 202102099349300010
- Schema version
- 2020v4.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-07-28T09:43:19-05:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 EAST THOMAS ROAD SUITE 2300 | AddressLine1Txt |
| City | PHOENIX | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85012 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 866050959 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUWEST CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TRUW | BusinessNameControlTxt |
| Phone | 6026292062 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1667 N PRIEST DRIVE | AddressLine1Txt |
| City | TEMPE | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85281 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MICHAEL WARD | PersonNm |
| Person Title | SVP CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 6026292062 | PhoneNum |
| Signature | 2021-07-26 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MICHAEL | PersonFirstNm |
| Person Last | WARD | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MARY C GREEN | PreparerPersonNm |
| PTIN | P00447183 | PTIN |
| Phone | 6022662248 | PhoneNum |
| Preparation | 2021-07-26 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ALAN ALTHOUSE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1667 N PRIEST DRIVE | AddressLine1Txt |
| City | TEMPE | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85281 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $97,461,402 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.TRUWEST.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1952 | FormationYr |
| Legal Domicile State | AZ | LegalDomicileStateCd |
| Activity Or Mission | A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 300 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $893,121 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $65,627,770 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $64,474,288 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,909,326 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,456,622 | CYInvestmentIncomeAmt |
| PY Other Revenue | $64,957 | PYOtherRevenueAmt |
| CY Other Revenue | $54,505 | CYOtherRevenueAmt |
| PY Total Revenue | $71,602,053 | PYTotalRevenueAmt |
| CY Total Revenue | $69,985,415 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $20,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $174,374 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $8,116,658 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $5,971,035 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $26,910,910 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $29,196,262 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $24,245,993 | PYOtherExpensesAmt |
| CY Other Expenses | $23,322,028 | CYOtherExpensesAmt |
| PY Total Expenses | $59,293,561 | PYTotalExpensesAmt |
| CY Total Expenses | $58,663,699 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $12,308,492 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $11,321,716 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,213,835,938 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,368,227,248 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,089,253,245 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,231,668,014 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $124,582,693 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $136,559,234 | NetAssetsOrFundBalancesEOYAmt |
| Mission | A COOPERATIVE PROVIDING TRUSTED FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | THE CREDIT UNION PROVIDES ITS MEMBER-OWNERS LOW COST FINANCIAL SERVICES INCLUDING FINANCIAL PLANNING. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 23652 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 300 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHAEL WARD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6026292063 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1667 N PRIEST DRIVE | AddressLine1Txt |
| City | TEMPE | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85281 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| ALAN ALTHOUSE | |||||||
| PRESIDENT & CEO | 40.00 | Yes (X) | $998,827 | $0 | $157,569 | ||
| KATHERINE SCIASCIA | |||||||
| MORTGAGE LOAN ORIGINATOR | 40.00 | $570,808 | $0 | $39,955 | Yes (X) | ||
| KATHLEEN HOFFMAN | |||||||
| MORTGAGE LOAN ORIGINATOR | 40.00 | $453,193 | $0 | $31,983 | Yes (X) | ||
| GARY BERNARD | |||||||
| EVP CHIEF OPERATIONS OFFICER | 40.00 | Yes (X) | $356,495 | $0 | $123,439 | ||
| FRED FARBOD | |||||||
| SVP CHIEF LENDING OFFICER | 40.00 | Yes (X) | $330,514 | $0 | $132,944 | ||
| BRENT CATTANI | |||||||
| FINANCIAL ADVISOR II | 40.00 | $416,851 | $0 | $41,485 | Yes (X) | ||
| CHRIS KEARNEY | |||||||
| SVP CHIEF INFORMATION OFFICER | 40.00 | Yes (X) | $278,943 | $0 | $121,888 | ||
| KELLY ARGALL | |||||||
| MORTGAGE LOAN OFFICER | 40.00 | $357,452 | $0 | $31,157 | Yes (X) | ||
| JEFF PEABODY | |||||||
| SVP CHIEF MARKETING OFFICER | 40.00 | Yes (X) | $261,418 | $0 | $98,264 | ||
| MICHAEL WARD | |||||||
| SVP CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $240,323 | $0 | $116,233 | ||
| JESUS PEREZ | |||||||
| MORTGAGE LOAN OFFICER | 40.00 | $291,800 | $0 | $39,955 | Yes (X) | ||
| ALYSSE MEDINA | |||||||
| SVP AND CHIEF LEGAL OFFICER | 40.00 | Yes (X) | $202,010 | $0 | $27,029 | ||
| RICK O'CONNOR | |||||||
| CHAIRMAN | 5.00 | Yes (X) | $16,275 | $0 | $0 | Yes (X) | |
| SUSANNA DEFRANCO | |||||||
| DIRECTOR | 2.50 | $12,000 | $0 | $0 | Yes (X) | ||
| SCOTT JOHS | |||||||
| TREASURER | 2.50 | Yes (X) | $11,850 | $0 | $0 | Yes (X) | |
| MIKE VASKO | |||||||
| DIRECTOR | 2.00 | $11,317 | $0 | $0 | Yes (X) | ||
| TIM NIESZ | |||||||
| SECRETARY | 2.00 | Yes (X) | $11,017 | $0 | $0 | Yes (X) | |
| MIKE MOULTON | |||||||
| DIRECTOR | 2.50 | $10,650 | $0 | $0 | Yes (X) | ||
| THOMAS CUMMISKEY | |||||||
| VICE CHAIRMAN | 2.00 | Yes (X) | $10,350 | $0 | $0 | Yes (X) | |
| JEFF HOMER | |||||||
| DIRECTOR | 2.00 | $8,692 | $0 | $0 | Yes (X) | ||
| DAVE HOLODY | |||||||
| DIRECTOR | 2.00 | $8,025 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,858,810 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $961,901 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 42 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NCR CORPORATION | |||||
| 14181 COLLECTIONS CENTER DRIVE | CHICAGO | IL | 60693 | ONLINE BANKING & ATM MAINTENANCE | $1,904,444 |
| VISA USA INC | |||||
| PO BOX 742233 | LOS ANGELES | CA | 90074 | CREDIT & DEBIT CARD SERVICES | $1,688,070 |
| FISERV | |||||
| PO BOX 208457 | DALLAS | TX | 85320 | CORE PROCESSING SYSTEM | $861,184 |
| BUSINESS DATA INC | |||||
| PO BOX 6081 | INGLEWOOD | CA | 90312 | DOCUMENT PRODUCTION | $497,463 |
| ADVANTAGE CREDIT INCORPORATED | |||||
| 32065 CASTLE COURT SUITE 300 | EVERGREEN | CO | 80439 | CREDIT REPORTING | $235,043 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 24 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $45,712,296 | $45,712,296 | |
| GAIN ON SALE OF LOANS HELD FOR SA | 522100 | $6,276,265 | $6,276,265 | |
| INTERCHANGE INCOME | 522100 | $5,062,513 | $5,062,513 | |
| FEES AND CHARGES | 522100 | $4,750,801 | $4,547,968 | $202,833 |
| WEALTH MANAGEMENT COMMISSIONS | 522100 | $2,654,623 | $1,964,335 | $690,288 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $17,790 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,790 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $64,474,288 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,327,230 | TotalRevenueColumnAmt |
| Exclusion | $2,327,230 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $52,555 | TotalRevenueColumnAmt |
| Exclusion | $52,555 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $30,183,963 | SecuritiesAmt |
| Other | $421,416 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,992,645 | SecuritiesAmt |
| Other | $483,342 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,191,318 | SecuritiesAmt |
| Other | -$61,926 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,129,392 | TotalRevenueColumnAmt |
| Exclusion | $3,129,392 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $1,950 | TotalRevenueColumnAmt |
| Exclusion | $1,950 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,950 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $69,985,415 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $63,581,167 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $893,121 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,511,127 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $151,874 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,500 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,971,035 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,546,072 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,337,313 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,135,760 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,728,344 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,448,773 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $461,832 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $171,993 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,753,407 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $359,293 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $553,071 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,070,784 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,011,747 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,724 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $152,161 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,496,726 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,991 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $4,445,507 |
| ATM SERVICE COSTS | $1,177,685 |
| ACCOUNT PROCESSING | $1,075,278 |
| OTHER STAFF EXPENSES | $906,432 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $593,397 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,663,699 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,649,013 | BOYAmt |
| EOY | $21,284,317 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,314,480 | BOYAmt |
| EOY | $147,217,579 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,987,137 | BOYAmt |
| EOY | $757,354 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,014,118,581 | BOYAmt |
| EOY | $971,739,245 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,879,774 | BOYAmt |
| EOY | $4,009,659 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $33,389,366 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $20,134,013 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,366,114 | BOYAmt |
| EOY | $13,255,353 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,661,050 | BOYAmt |
| EOY | $155,626,288 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,448,061 | BOYAmt |
| EOY | $10,384,050 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,411,728 | BOYAmt |
| EOY | $43,953,403 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,213,835,938 | BOYAmt |
| EOY | $1,368,227,248 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,113,335 | BOYAmt |
| EOY | $15,468,864 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,076,139,910 | BOYAmt |
| EOY | $1,216,199,150 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,089,253,245 | BOYAmt |
| EOY | $1,231,668,014 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $124,582,693 | BOYAmt |
| EOY | $136,559,234 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $124,582,693 | BOYAmt |
| EOY | $136,559,234 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,213,835,938 | BOYAmt |
| EOY | $1,368,227,248 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $11,321,716 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $595,525 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $59,300 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,587,184 | OtherCostOrOtherBasisAmt |
| Book Value | $5,587,184 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,272,110 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,784,432 | DepreciationAmt |
| Book Value | $5,487,678 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,530,072 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,349,581 | DepreciationAmt |
| Book Value | $2,180,491 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,255,353 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| DEFERRED COMPENSATION LIABILITY | $1,985,317 |
| MEMBER DEPOSIT ACCOUNTS | $1,214,213,833 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,216,199,150 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $70,047,341 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $70,047,341 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$61,926 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$61,926 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $69,985,415 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $58,725,625 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $61,926 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $61,926 | ExpensesNotReportedAmt |
| Expenses Subtotal | $58,663,699 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $58,663,699 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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, 2020 AND 2019. THE CREDIT UNION'S 2017 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS ON ASSET DISPOSAL -61,926. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON ASSET DIPOSAL 61,926. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (6 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| PHOENIX CHILDREN'S HOSPITAL | |||||||
| 2929 E CAMELBACK ROAD SUITE 122 | PHOENIX | AZ | 850164425 | 860422559 | 501(C)(3) | $55,500 | UNRESTRICTED |
| MOUNTAIN WEST CREDIT UNION ASSOCIATION | |||||||
| 2020 NORTH CENTRAL AVE SUITE 530 | PHOENIX | AZ | 85004 | 840375111 | 501(C)(6) | $7,354 | UNRESTRICTED |
| AMERICAN LUNG ASSOCIATION | |||||||
| 8140 WALNUT HILL SUITE 410 | DALLAS | TX | 75231 | 131632524 | 501(C)(3) | $9,210 | UNRESTRICTED |
| DELL CHILDREN'S MEDICAL CENTER | |||||||
| 4900 MUELLER BLVD | AUSTIN | TX | 78723 | 200468031 | 501(C)(3) | $12,500 | UNRESTRICTED |
| AMERICAN LUNG ASSOCIATION | |||||||
| 102 W MCDOWELL RD | PHOENIX | AZ | 85018 | 860111676 | 501(C)(3) | $23,710 | UNRESTRICTED |
| MARICOPA COMMUNITY COLLEGES FOUNDATION | |||||||
| 2419 W 14TH ST | TEMPE | AZ | 852816942 | 860327449 | 501(C)(3) | $32,600 | UNRESTRICTED |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 5 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIP | GrantTypeTxt |
| Recipient | 9 | RecipientCnt |
| Cash Grant | $22,500 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CHECKS ARE ISSUED DIRECTLY TO THE ORGANIZATIONS AND TO THE INDIVIDUAL'S SCHOOL IN THE UNITED STATES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ALAN ALTHOUSE | ||||||||||||||
| PRESIDENT & CEO | $298,070 | $0 | $17,308 | $0 | $683,449 | $0 | $141,937 | $0 | $15,632 | $0 | $1,156,396 | $0 | $675,135 | $0 |
| KATHERINE SCIASCIA | ||||||||||||||
| MORTGAGE LOAN ORIGINATOR | $17,916 | $0 | $508,408 | $0 | $44,484 | $0 | $18,525 | $0 | $21,430 | $0 | $610,763 | $0 | $0 | $0 |
| KATHLEEN HOFFMAN | ||||||||||||||
| MORTGAGE LOAN ORIGINATOR | $33,866 | $0 | $418,503 | $0 | $824 | $0 | $17,100 | $0 | $14,883 | $0 | $485,176 | $0 | $0 | $0 |
| GARY BERNARD | ||||||||||||||
| EVP CHIEF OPERATIONS OFFICER | $289,420 | $0 | $46,708 | $0 | $20,367 | $0 | $107,800 | $0 | $15,639 | $0 | $479,934 | $0 | $0 | $0 |
| FRED FARBOD | ||||||||||||||
| SVP CHIEF LENDING OFFICER | $260,761 | $0 | $42,508 | $0 | $27,245 | $0 | $118,131 | $0 | $14,813 | $0 | $463,458 | $0 | $0 | $0 |
| BRENT CATTANI | ||||||||||||||
| FINANCIAL ADVISOR II | $37,069 | $0 | $379,609 | $0 | $173 | $0 | $19,950 | $0 | $21,535 | $0 | $458,336 | $0 | $0 | $0 |
| CHRIS KEARNEY | ||||||||||||||
| SVP CHIEF INFORMATION OFFICER | $236,521 | $0 | $37,208 | $0 | $5,214 | $0 | $99,641 | $0 | $22,247 | $0 | $400,831 | $0 | $0 | $0 |
| KELLY ARGALL | ||||||||||||||
| MORTGAGE LOAN OFFICER | $34,159 | $0 | $322,911 | $0 | $382 | $0 | $17,100 | $0 | $14,057 | $0 | $388,609 | $0 | $0 | $0 |
| JEFF PEABODY | ||||||||||||||
| SVP CHIEF MARKETING OFFICER | $212,108 | $0 | $35,308 | $0 | $14,002 | $0 | $82,690 | $0 | $15,574 | $0 | $359,682 | $0 | $0 | $0 |
| MICHAEL WARD | ||||||||||||||
| SVP CHIEF FINANCIAL OFFICER | $205,157 | $0 | $33,308 | $0 | $1,858 | $0 | $94,062 | $0 | $22,171 | $0 | $356,556 | $0 | $0 | $0 |
| JESUS PEREZ | ||||||||||||||
| MORTGAGE LOAN OFFICER | $14,652 | $0 | $264,839 | $0 | $12,309 | $0 | $18,525 | $0 | $21,430 | $0 | $331,755 | $0 | $0 | $0 |
| ALYSSE MEDINA | ||||||||||||||
| SVP AND CHIEF LEGAL OFFICER | $191,549 | $0 | $7,785 | $0 | $2,676 | $0 | $12,333 | $0 | $14,696 | $0 | $229,039 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | 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 2020. ALAN ALTHOUSE, PRESIDENT & CEO - $120,562 GARY BERNARD, CHIEF OPERATING OFFICER - $85,000 FRED FARBOD, CHIEF LENDING OFFICER - $96,756 CHRIS KEARNEY, CHIEF INFORMATION OFFICER - $81,116 JEFF PEABODY, CHIEF MARKETING OFFICER - $65,220 MICHAEL WARD, CHIEF FINANCIAL OFFICER - $78,970 THE FOLLOWING EMPLOYEE HAD A DISTRIBUTION FROM THE 457(F) PLAN DURING 2020: ALAN ALTHOUSE - $675,135 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | 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 INCLUDE SECTIONS RELATING TO THE INDEMNIFICATION OF CURRENT AND FORMER DIRECTORS, BOARD MEMBERS, AND OFFICERS AS WELL AS A PROVISION INDICATING THAT THE BOARD OF DIRECTORS SHALL PURCHASE AND MAINTAIN INSURANCE FOR THE CREDIT UNION AGAINST SAID INDEMNIFICATION. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS OF THE CREDIT UNION INCLUDE ANY ACTIVE OR RETIRED EMPLOYEE OF THE CREDIT UNION'S COMMON BOND OF OCCUPATION EMPLOYEE GROUPS, THEIR SUBSIDIARIES AND THEIR JOINT VENTURE COMPANIES AND OTHER BUSINESS RELATIONSHIPS AS APPROVED BY THE BOARD AND THE DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER. ANY MEMBER OF THE CREDIT UNION'S COMMON BOND OF ASSOCIATIONS OR ORGANIZATIONS AS APPROVED BY THE BOARD AND DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER OF THE CREDIT UNION. ANY INDIVIDUAL THAT LIVES, ATTENDS SCHOOL, WORKS OR ANY BUSINESS LOCATED IN THE GEOGRAPHIC AREAS LISTED IN APPENDIX C OF THE BYLAWS AS APPROVED BY THE BOARD AND THE DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER. ANY MEMBER OF THE CREDIT UNION'S COMMON BOND OF INTEREST GROUPS AS APPROVED BY THE BOARD AND THE DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER. |
| 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 2020. |
| 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 UNION'S 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. SENIOR LEADERSHIP RECEIVES AN ANNUAL MERIT INCREASE BASED OFF PERFORMANCE, HOWEVER, THE CEO MAY BUDGET FOR ADDITIONAL INCREASES DURING THE BUDGET PROCESS. THE FINAL BUDGET IS 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 59,300. |