2025-08-14T11:26:11-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 2875 MICHELLE DRIVE 300 IRVINE CA 92606 990 2024-01-01 866050959 TRUWEST CREDIT UNION TRUW 6026292065 2190 E ELLIOT ROAD TEMPE AZ 85284 MICHAEL WARD EVP CHIEF FINANCIAL OFFICER 6026292065 2025-08-07 1 1 LISA N RYSSEL CPA P00643670 7149781300 2025-08-07 2024 2025-03-06 01:10:19Z CHRIS KEARNEY 2190 E ELLIOT ROAD TEMPE AZ 85284 110616397 0 X WWW.TRUWEST.ORG X 1952 AZ A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 9 9 311 15 1128357 0 0 0 82076554 97384361 10502528 12998959 79061 78222 92658143 110461542 235268 198259 19750391 26611156 32897264 34530989 0 0 0 24062418 39482451 76945341 100822855 15712802 9638687 1810234989 1607001608 1686028127 1475058601 124206862 131943007 TRUWEST CREDIT UNION IS A COOPERATIVE PROVIDING TRUSTED FINANCIAL SOLUTIONS AND SERVICES, 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 26116 0 1 311 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 1 1 1 1 1 1 1 1 0 X MICHAEL WARD 6026292063 2190 E ELLIOT ROAD TEMPE AZ 85284 ALAN ALTHOUSE PRESIDENT & CEO 40.00 X 927301 0 172309 FRED FARBOD SVP & CHIEF LENDING OFFICER 40.00 X 778874 0 171702 BRENT CATTANI FINANCIAL ADVISOR II 40.00 X 604362 0 68132 CHRIS KEARNEY SVP & CHIEF INFORMATION OFFICER 40.00 X 477328 0 155347 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 40.00 X 450338 0 172448 MICHAEL WARD SVP & CHIEF FINANCIAL OFFICER 40.00 X 355036 0 146329 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 40.00 X 433156 0 67368 JENNIFER KIMMELL SVP & CHIEF EXPERIENCE OFFICER 40.00 X 325289 0 155522 DARREN KENNON MORTGAGE LOAN OFFICER 40.00 X 333331 0 67466 ALYSSE MEDINA SVP & CHIEF LEGAL OFFICER 40.00 X 262390 0 124676 NIKKI BADJE SVP & CHIEF PEOPLE OFFICER 40.00 X 247927 0 97012 KELLY ARGALL MORTGAGE LOAN OFFICER 40.00 X 260581 0 42370 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 40.00 X 234828 0 42311 MIKE MOULTON CHAIRMAN 5.00 X X 19225 0 0 DAVE HOLODY DIRECTOR 1.50 X 18367 0 0 RICK O'CONNOR VICE CHAIRMAIN 2.00 X X 15636 0 0 SUSANNA DEFRANCO TREASURER 1.50 X X 15353 0 0 STEVE BENTON DIRECTOR 1.00 X 15115 0 0 SCOTT JOHS DIRECTOR 1.00 X 13650 0 0 TIM NIESZ DIRECTOR 1.00 X 13500 0 0 JEFF HOMER SECRETARY 1.00 X X 13417 0 0 CAITLIN DAVISON DIRECTOR 1.00 X 10860 0 0 THOMAS CUMMISKEY DIRECTOR (THRU 4/23/24) 1.00 X 9972 0 0 MIKE VASKO DIRECTOR (THRU 4/23/24) 1.00 X 5000 0 0 5840836 0 1482992 61 0 1 0 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 CREDIT & DEBIT CARD SERVICES 2265679 NCR CORPORATION 864 SPRING ST NW ATLANTA GA 30308 ONLINE BANKING & ATM MAINTENANCE 1354453 CORELATION INC 2305 HISTORIC DECATUR RD SUITE 300 SAN DIEGO CA 92106 CORE PROCESSING SYSTEM 1314833 HUBBARD BROADCASTING INC PO BOX 511553 LOS ANGELES CA 90051 DIGITAL ADVERTISING 1109954 AMPLIFI LOYALTY SOLUTIONS LLC 1620 BOND ST NAPERVILLE IL 60563 CARD REWARD SERVICING 1006057 44 LOAN INTEREST INCOME 522100 81959092 81959092 FEES AND CHARGES 522100 5359342 5227520 131822 INTERCHANGE INCOME 522100 5182155 5182155 WEALTH MANAGEMENT COMMISSIONS 522100 4000314 3003779 996535 GAIN ON SALE OF LOANS HELD FOR SA 522100 703789 703789 179669 179669 97384361 12951985 12951985 78222 78222 61887 139942 40455 114400 21432 25542 46974 46974 110461542 96256004 1128357 13077181 178259 20000 26611156 5169922 22209723 1401740 3975775 1773829 793980 227186 5982650 1955068 595675 4871844 2794118 115761 362444 8603367 1321420 47792 PROVISION FOR CREDIT LO 7304736 ACCOUNT PROCESSING 1342843 OTHER STAFF EXPENSES 1142602 ATM SERVICE COSTS 1024470 996495 100822855 19868407 27407936 86754494 64646117 391939 2311880 1303004760 1263272986 6132601 7719944 30486333 17112108 13414866 13374225 323135744 170568326 13390572 14388681 44141606 43311513 1810234989 1607001608 14416372 10130204 199647285 30000000 1471964470 1434928397 1686028127 1475058601 X 0 0 0 0 124206862 131943007 124206862 131943007 1810234989 1607001608 X 9638687 -1443202 -459340 X 0 1 X 1 0 5501698 5501698 12865528 8340534 4524994 11703312 8771574 2931738 415795 415795 13374225 MEMBER DEPOSIT ACCOUNTS 1421426146 DEFERRED COMPENSATION LIABILITY 2011306 LEASE LIABILITY 11490945 1434928397 X 110461542 0 110461542 0 110461542 100822855 0 100822855 0 100822855 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, 2024 AND 2023. THE CREDIT UNION'S 2021 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 DELL CHILDREN'S MEDICAL CENTER FOUNDATION 4900 MUELLER BLVD AUSTIN TX 78723 200468031 501(C)(3) 9810 0 N/A N/A OPERATIONAL SUPPORT MARBRIDGE FOUNDATION 2310 BLISS SPILLAR RD MANCHACA TX 78652 741183095 501(C)(3) 11000 0 N/A N/A OPERATIONAL SUPPORT MARICOPA COMMUNITY COLLEGES FOUNDATION 2419 W 14TH ST TEMPE AZ 852816942 860327449 501(C)(3) 25000 0 N/A N/A OPERATIONAL SUPPORT AMERICAN LUNG ASSOCIATION 102 W MCDOWELL RD PHOENIX AZ 85003 860111676 501(C)(3) 45960 0 N/A N/A OPERATIONAL SUPPORT PHOENIX CHILDREN'S HOSPITAL 2929 E CAMELBACK RD SUITE 122 PHOENIX AZ 850164425 860422559 501(C)(3) 68075 0 N/A N/A OPERATIONAL SUPPORT GOWEST CREDIT UNION ASSOCIATION 18000 INTERNATIONAL BLVD SUITE 1102 SEATAC WA 98188 910460483 501(C)(3) 8414 0 N/A N/A DEFENSE FUND CONTRIBUTION 6 0 SCHOLARSHIPS 8 20000 N/A N/A PART I, LINE 2: THE CREDIT UNION DONATES TO REPUTABLE 501(C)(3) ORGANIZATIONS. THE CHECKS ARE ISSUED DIRECTLY TO THE ORGANIZATIONS AND TO THE INDIVIDUAL'S SCHOOL IN THE UNITED STATES. X 1 1 X X X X 0 1 0 ALAN ALTHOUSE PRESIDENT & CEO 546216 0 56657 0 324428 0 152870 0 19439 0 1099610 0 292297 0 FRED FARBOD SVP & CHIEF LENDING OFFICER 339775 0 34917 0 404182 0 137543 0 34159 0 950576 0 388636 0 BRENT CATTANI FINANCIAL ADVISOR II 600014 0 4148 0 200 0 24150 0 43982 0 672494 0 0 0 CHRIS KEARNEY SVP & CHIEF INFORMATION OFFICER 423228 0 41105 0 12995 0 110649 0 44698 0 632675 0 0 0 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 405340 0 40675 0 4323 0 138600 0 33848 0 622786 0 0 0 MICHAEL WARD SVP & CHIEF FINANCIAL OFFICER 312651 0 31652 0 10733 0 113031 0 33298 0 501365 0 0 0 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 427264 0 5526 0 366 0 24150 0 43218 0 500524 0 0 0 JENNIFER KIMMELL SVP & CHIEF EXPERIENCE OFFICER 295205 0 23633 0 6451 0 110824 0 44698 0 480811 0 0 0 DARREN KENNON MORTGAGE LOAN OFFICER 327043 0 3105 0 3183 0 25870 0 41596 0 400797 0 0 0 ALYSSE MEDINA SVP & CHIEF LEGAL OFFICER 231087 0 23600 0 7703 0 99310 0 25366 0 387066 0 0 0 NIKKI BADJE SVP & CHIEF PEOPLE OFFICER 218478 0 25574 0 3875 0 66214 0 30798 0 344939 0 0 0 KELLY ARGALL MORTGAGE LOAN OFFICER 256498 0 3824 0 259 0 17309 0 25061 0 302951 0 0 0 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 230705 0 4103 0 20 0 15657 0 26654 0 277139 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS IS APPROVED FOR BOARD AND SENIOR LEADERSHIP OFFICIALS AND IS INCLUDED AS A TAXABLE BENEFIT. 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 2024. ALAN ALTHOUSE, PRESIDENT & CEO - $125,270 GARY BERNARD, EVP CHIEF OPERATIONS OFFICER - $111,000 FRED FARBOD, SVP & CHIEF LENDING OFFICER - $109,943 MICHAEL WARD, SVP & CHIEF FINANCIAL OFFICER - $88,881 CHRIS KEARNEY, SVP & CHIEF INFORMATION OFFICER - $86,499 JENNIFER KIMMELL, SVP & CHIEF EXPERIENCE OFFICER - $85,388 ALYSSE MEDINA, SVP & CHIEF LEGAL OFFICER - $81,929 NIKKI BADJE, SVP & CHIEF PEOPLE OFFICER - $48,214 THE FOLLOWING EMPLOYEES HAD A DISTRIBUTION FROM THE 457(F) PLAN DURING 2024: FRED FARBOD - $388,636 ALAN ALTHOUSE - $292,297 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 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, WORK, OR CONDUCT BUSINESS IN MARICOPA, PINAL, YAVAPAI, AND PIMA COUNTIES IN ARIZONA, THOSE WHO LIVE, ATTEND SCHOOL, WORK, OR CONDUCT BUSINESS 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 2024. 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 SENIOR 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. THESE PROCESSES WERE LAST COMPLETED DURING 2024. 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 -459,340.