2021-07-28T09:43:19-05:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-01-01 866050959 TRUWEST CREDIT UNION TRUW 6026292062 1667 N PRIEST DRIVE TEMPE AZ 85281 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 6026292062 2021-07-26 1 MICHAEL WARD 999009999 MARY C GREEN P00447183 6022662248 2021-07-26 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ALAN ALTHOUSE 1667 N PRIEST DRIVE TEMPE AZ 85281 97461402 0 X WWW.TRUWEST.ORG X 1952 AZ A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 9 9 300 14 893121 0 0 0 65627770 64474288 5909326 5456622 64957 54505 71602053 69985415 20000 174374 8116658 5971035 26910910 29196262 0 0 0 24245993 23322028 59293561 58663699 12308492 11321716 1213835938 1368227248 1089253245 1231668014 124582693 136559234 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 23652 0 300 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 85281 ALAN ALTHOUSE PRESIDENT & CEO 40.00 X 998827 0 157569 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 40.00 X 570808 0 39955 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 40.00 X 453193 0 31983 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 40.00 X 356495 0 123439 FRED FARBOD SVP CHIEF LENDING OFFICER 40.00 X 330514 0 132944 BRENT CATTANI FINANCIAL ADVISOR II 40.00 X 416851 0 41485 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 40.00 X 278943 0 121888 KELLY ARGALL MORTGAGE LOAN OFFICER 40.00 X 357452 0 31157 JEFF PEABODY SVP CHIEF MARKETING OFFICER 40.00 X 261418 0 98264 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 40.00 X 240323 0 116233 JESUS PEREZ MORTGAGE LOAN OFFICER 40.00 X 291800 0 39955 ALYSSE MEDINA SVP AND CHIEF LEGAL OFFICER 40.00 X 202010 0 27029 RICK O'CONNOR CHAIRMAN 5.00 X X 16275 0 0 SUSANNA DEFRANCO DIRECTOR 2.50 X 12000 0 0 SCOTT JOHS TREASURER 2.50 X X 11850 0 0 MIKE VASKO DIRECTOR 2.00 X 11317 0 0 TIM NIESZ SECRETARY 2.00 X X 11017 0 0 MIKE MOULTON DIRECTOR 2.50 X 10650 0 0 THOMAS CUMMISKEY VICE CHAIRMAN 2.00 X X 10350 0 0 JEFF HOMER DIRECTOR 2.00 X 8692 0 0 DAVE HOLODY DIRECTOR 2.00 X 8025 0 0 4858810 0 961901 42 0 1 0 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ONLINE BANKING & ATM MAINTENANCE 1904444 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 CREDIT & DEBIT CARD SERVICES 1688070 FISERV PO BOX 208457 DALLAS TX 85320 CORE PROCESSING SYSTEM 861184 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 DOCUMENT PRODUCTION 497463 ADVANTAGE CREDIT INCORPORATED 32065 CASTLE COURT SUITE 300 EVERGREEN CO 80439 CREDIT REPORTING 235043 24 LOAN INTEREST INCOME 522100 45712296 45712296 GAIN ON SALE OF LOANS HELD FOR SA 522100 6276265 6276265 INTERCHANGE INCOME 522100 5062513 5062513 FEES AND CHARGES 522100 4750801 4547968 202833 WEALTH MANAGEMENT COMMISSIONS 522100 2654623 1964335 690288 17790 17790 64474288 2327230 2327230 52555 52555 30183963 421416 26992645 483342 3191318 -61926 3129392 3129392 MISCELLANEOUS INCOME 522100 1950 1950 1950 69985415 63581167 893121 5511127 151874 22500 5971035 3546072 20337313 1135760 2728344 1448773 461832 171993 4753407 359293 553071 4070784 3011747 37724 152161 1496726 54991 PROVISION FOR LOAN LOSS 4445507 ATM SERVICE COSTS 1177685 ACCOUNT PROCESSING 1075278 OTHER STAFF EXPENSES 906432 593397 58663699 10649013 21284317 117314480 147217579 9987137 757354 1014118581 971739245 3879774 4009659 33389366 20134013 14366114 13255353 1661050 155626288 7448061 10384050 34411728 43953403 1213835938 1368227248 13113335 15468864 1076139910 1216199150 1089253245 1231668014 X 0 0 0 0 124582693 136559234 124582693 136559234 1213835938 1368227248 X 11321716 595525 59300 X 0 1 X 1 0 5587184 5587184 12272110 6784432 5487678 15530072 13349581 2180491 13255353 DEFERRED COMPENSATION LIABILITY 1985317 MEMBER DEPOSIT ACCOUNTS 1214213833 1216199150 X 70047341 0 70047341 -61926 -61926 69985415 58725625 61926 61926 58663699 0 58663699 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. 1 PHOENIX CHILDREN'S HOSPITAL 2929 E CAMELBACK ROAD SUITE 122 PHOENIX AZ 850164425 860422559 501(C)(3) 55500 UNRESTRICTED MOUNTAIN WEST CREDIT UNION ASSOCIATION 2020 NORTH CENTRAL AVE SUITE 530 PHOENIX AZ 85004 840375111 501(C)(6) 7354 UNRESTRICTED AMERICAN LUNG ASSOCIATION 8140 WALNUT HILL SUITE 410 DALLAS TX 75231 131632524 501(C)(3) 9210 UNRESTRICTED DELL CHILDREN'S MEDICAL CENTER 4900 MUELLER BLVD AUSTIN TX 78723 200468031 501(C)(3) 12500 UNRESTRICTED AMERICAN LUNG ASSOCIATION 102 W MCDOWELL RD PHOENIX AZ 85018 860111676 501(C)(3) 23710 UNRESTRICTED MARICOPA COMMUNITY COLLEGES FOUNDATION 2419 W 14TH ST TEMPE AZ 852816942 860327449 501(C)(3) 32600 UNRESTRICTED 5 1 SCHOLARSHIP 9 22500 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 298070 0 17308 0 683449 0 141937 0 15632 0 1156396 0 675135 0 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 17916 0 508408 0 44484 0 18525 0 21430 0 610763 0 0 0 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 33866 0 418503 0 824 0 17100 0 14883 0 485176 0 0 0 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 289420 0 46708 0 20367 0 107800 0 15639 0 479934 0 0 0 FRED FARBOD SVP CHIEF LENDING OFFICER 260761 0 42508 0 27245 0 118131 0 14813 0 463458 0 0 0 BRENT CATTANI FINANCIAL ADVISOR II 37069 0 379609 0 173 0 19950 0 21535 0 458336 0 0 0 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 236521 0 37208 0 5214 0 99641 0 22247 0 400831 0 0 0 KELLY ARGALL MORTGAGE LOAN OFFICER 34159 0 322911 0 382 0 17100 0 14057 0 388609 0 0 0 JEFF PEABODY SVP CHIEF MARKETING OFFICER 212108 0 35308 0 14002 0 82690 0 15574 0 359682 0 0 0 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 205157 0 33308 0 1858 0 94062 0 22171 0 356556 0 0 0 JESUS PEREZ MORTGAGE LOAN OFFICER 14652 0 264839 0 12309 0 18525 0 21430 0 331755 0 0 0 ALYSSE MEDINA SVP AND CHIEF LEGAL OFFICER 191549 0 7785 0 2676 0 12333 0 14696 0 229039 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 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 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.