2021-10-27T11:24:40-05:00 2020-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2020-01-01 840146595 BELLCO CREDIT UNION BELL 3036897800 7600 E ORCHARD ROAD NO 400N GREENWOOD VILLAGE CO 80111 DANIEL KAMPEN EVP/CFO 3036897800 2021-10-26 1 DANIEL KAMPEN 999009999 DOUGLAS J ORTH P01076394 3052328272 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DOUGLAS A FERRARO 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 285015099 0 1948 X WWW.BELLCO.ORG X 1936 CO BELLCO IS A PROGRESSIVE, MEMBER-OWNED ORGANIZATION THAT PROVIDES COMPETITIVE FINANCIAL SERVICES TO MEET EVOLVING MEMBER NEEDS. WE WILL SUSTAIN PLANNED GROWTH TO FUND THE FUTURE WHILE MAINTAINING MEMBER CONFIDENCE THROUGH FINANCIAL STABILITY. WE WILL PROVIDE A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND CONTRIBUTE TO THE SOCIAL AND ECONOMIC WELL BEING OF OUR COMMUNITY. 10 9 318 11 401171 0 0 0 230233298 227244007 21335415 10812760 3169065 4512095 254737778 242568862 0 0 0 0 37189962 37685601 0 0 0 171403987 193058494 208593949 230744095 46143829 11824767 5171032513 5518860512 4650256679 4981937035 520775834 536923477 X BELLCO IS A PROGRESSIVE, MEMBER-OWNED ORGANIZATION THAT PROVIDES COMPETITIVE FINANCIAL SERVICES TO MEET EVOLVING MEMBER NEEDS. WE WILL SUSTAIN PLANNED GROWTH TO FUND THE FUTURE WHILE MAINTAINING MEMBER CONFIDENCE THROUGH FINANCIAL STABILITY. WE WILL PROVIDE A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND CONTRIBUTE TO THE SOCIAL AND ECONOMIC WELL BEING OF OUR COMMUNITY. 0 0 INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 195843 0 1 318 1 1 1 0 0 0 0 0 1 0 X 10 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 CO X DAN KAMPEN 3036897800 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 JANE PRANCAN BOD MEMBER/ DIRECTOR 5.00 X 36000 0 0 SANDRA BLODGETT SUPERVISORY COMMITTEE CHAI 2.00 X 0 0 0 LAURA SONDERUP BOD/V. CHAIR 4.00 X 36000 0 0 STEVEN ANGELIER BOD/CHAIRMAN 5.00 X 45000 0 0 WALKER FLEMING BOD/DIRECTOR 5.00 X 36000 0 0 DOUGLAS FERRARO BOD MEMBER/PRESIDENT/CEO 40.00 X X 1361199 0 3904358 ANDREW MURRAY BOD MEMBER/DIRECTOR 4.00 X 36000 0 0 SHERRY KREIS BOD MEMBER/DIRECTOR/SUPERVISORY COMMITTEE MEMBER 5.00 X 16000 0 0 JAMES DOWNS BOD MEMBER 4.00 X 21500 0 0 MARK D GOODMAN BOD MEMBER/DIRECTOR 4.00 X 36000 0 0 DAVID POWERS BOD MEMBER 4.00 X 36000 0 0 MARIA ALEJANDRA SPRAY BOD MEMBER/SUPERVISORY COM 4.00 X 36000 0 0 C DAVID KIKUMOTO BOD MEMBER/ SECRETARY/TREASURER 5.00 X 36000 0 0 JOHN M RUBY SVP/CLO 40.00 X 1413504 0 64296 DANIEL KAMPEN EVP/CFO 40.00 X 896926 0 517659 JOHN RIVERA SVP/CHIEF RETAIL OFFICER 40.00 X 406205 0 126401 LEEANN DOWNEY SVP/CHIEF ADM. OFFICER 40.00 X 436670 0 247304 JACK PARGEON SVP/ FINANCE 40.00 X 273936 0 372180 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDIN 40.00 X 1101008 0 37451 GREG LUNDSTROM COMMERCIAL BUSINESS LENDIN 40.00 X 943956 0 37511 JUAN CARLOS CAMPOS DIRECTOR- GENERAL COUNSEL/ 40.00 X 258824 0 39173 DALE SYTA SR. MANAGER-MORTGAGE SALES 40.00 X 380127 0 41503 CAROL BOUWER SR. DIRECTOR-FINANCE 40.00 X 369669 0 22344 8212524 0 5410180 51 0 1 0 PROVIDENT CONSTRUCTION INC 12424 E WEAVER PL CENTENNIAL CO 80111 CONSTRUCTION 2431220 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT 2387341 FIS CARD SERVICES 1106 ROOSEVELT BLVD ST PETERSBURG FL 33716 FINANCIAL SERVICES 1722414 FISERV INC PO BOX 208457 DALLAS TX 75320 FINANCIAL SERVICES 1662658 UNICO LAIRD NORTON JV TWO LLC 1215 FOURTH AVE STE 600 SEATTLE WA 98161 BUILDING MANAGEMENT 1582890 90 INCOME ON LOANS 522100 192107437 192107437 FEES/CHARGES/OTHER 522100 34735399 34735399 FINANCE & INSURANCE 520000 401171 401171 227244007 9148370 9148370 44110627 42446237 1664390 1664390 1664390 OTHER NON-OPERATING INCOME 522100 3594734 3594734 GAIN ON STOCK INVESTMENTS 522100 464168 464168 MORTGAGE SERVICING RIGHTS 522100 453193 453193 4512095 242568862 242167691 401171 0 X 10391138 17061038 5647466 2784368 1801591 21122708 318838 571150 885912 5356789 5725571 10976690 6047737 55815 23402 55191582 4097118 178357 PROVISION FOR LOAN LOSS 59947842 ATM/CREDIT CARD 9141732 LOAN SERVICING 8828797 MISCELLANEOUS 1941072 2647382 230744095 259200951 881498999 153265641 161857087 8272000 7420255 2475117 3245620 4165505799 3887904284 2499451 2720949 94297979 59709693 33203341 34588286 357478963 354814086 34369782 16602759 154761468 168208187 5171032513 5518860512 59980035 63630188 500000000 50000000 4090276644 4868306847 4650256679 4981937035 X 0 0 0 0 520775834 536923477 520775834 536923477 5171032513 5518860512 11824767 4322876 0 X X 0 1 X 1 0 8696 8696 8696 1 PART I-A, LINE 1: THE CREDIT UNION SENT "VOTE FOR CORY GARDNER" MAILERS IN SUPPORT OF HIS CAMPAIGN FOR U.S. SENATOR DURING 2020. 13122476 13122476 24470913 11794252 12676661 10452096 7415928 3036168 32002012 27016325 4985687 14250482 13483188 767294 34588286 SHARES 1049746997 SHARE DRAFTS 1108326996 MONEY MARKET 1330097884 CERTIFICATES 1196101403 IRA ACCOUNTS 184033567 4868306847 X 242568862 0 242568862 0 242568862 230744095 0 230744095 0 230744095 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN IRC SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2019, 2018, AND 2017 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS). THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X X X X 1 1 X X X X 0 1 0 DOUGLAS FERRARO BOD MEMBER/PRESIDENT/CEO 840390 0 516750 0 4059 0 3880119 0 24239 0 5265557 0 0 0 JOHN M RUBY SVP/CLO 1304607 0 106125 0 2772 0 42087 0 22209 0 1477800 0 763686 0 DANIEL KAMPEN EVP/CFO 606509 0 282500 0 7917 0 508263 0 9396 0 1414585 0 0 0 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDIN 136893 0 962127 0 1988 0 28250 0 9201 0 1138459 0 0 0 GREG LUNDSTROM COMMERCIAL BUSINESS LENDIN 136929 0 806575 0 452 0 28250 0 9261 0 981467 0 0 0 LEEANN DOWNEY SVP/CHIEF ADM. OFFICER 321398 0 112500 0 2772 0 232354 0 14950 0 683974 0 0 0 JACK PARGEON SVP/ FINANCE 227664 0 43500 0 2772 0 366238 0 5942 0 646116 0 0 0 JOHN RIVERA SVP/CHIEF RETAIL OFFICER 300149 0 104250 0 1806 0 111451 0 14950 0 532606 0 0 0 DALE SYTA SR. MANAGER-MORTGAGE SALES 123226 0 256539 0 362 0 32077 0 9426 0 421630 0 0 0 CAROL BOUWER SR. DIRECTOR-FINANCE 347027 0 19000 0 3642 0 22344 0 0 0 392013 0 0 0 JUAN CARLOS CAMPOS DIRECTOR- GENERAL COUNSEL/ 226458 0 31400 0 966 0 25676 0 13497 0 297997 0 0 0 PART I, LINE 4B DOUGLAS FERRARO, JOHN M. RUBY, LEEANN DOWNEY, DAN KAMPEN, JACK PARGEON, AND JOHN RIVERA PARTICIPATE IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. JOHN RUBY RECEIVED A BENEFIT PAYOUT IN THE AMOUNT OF $1,000,000 DURING 2020. ALVIN MCCARTHY COMMERCIAL BUSINESS LENDING MORTGAGE LOAN X 336000 277814 0 0 1 GREG LUNDSTROM COMMERCIAL BUSINESS LENDING MORTGAGE LOAN X 412750 297178 0 0 1 JOHN RIVERA SVP/CHIEF RETAIL OFFICER MORTGAGE LOAN X 376000 352143 0 0 1 JUAN CARLOS CAMPOS DIRECTOR GENERAL COUNSEL/COMPLIANCE MORTGAGE LOAN X 210000 156565 0 0 1 TIM BILLINGS VP TREASURY & ANALYTICS MORTGAGE LOAN X 387200 329343 0 0 1 DANIEL KAMPEN EVP/CFO ADJ JUMBO MORTGAGE X 819000 109430 0 0 1 JACK PARGEON SVP FINANCE FIXED CHOICE LOC X 331735 320580 0 0 1 ARTHUR DOUG KEARBEY VP BUSINESS TECHNOLOGY MORTGAGE LOAN X 244000 225636 0 0 1 LEEANN DOWNEY SVP CHIEF ADM. OFFICER FIXED CHOICE LOC X 0 17239 0 0 1 JACK PARGEON SVP FINANCE FIXED CHOICE LOC X 45000 44311 0 0 1 JACK PARGEON SVP FINANCE MORTGAGE LOAN X 514000 489762 0 0 1 JUAN CARLOS CAMPOS DIRECTOR GENERAL COUNSEL/COMPLIANCE FIXED CHOICE LOC X 19674 14071 0 0 1 CARRIE FREDENBURG VP OF HUMAN RESOURCES (IN TRAINING) MORTGAGE LOAN X 484350 473366 0 0 1 CARRIE FREDENBURG VP OF HUMAN RESOURCES (IN TRAINING) FIXED CHOICE LOC X 147324 138182 0 0 1 3245620 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE SENIOR DIRECTOR AND ASSISTANT CONTROLLER IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. UPON COMPLETION, THE RETURN IS REVIEWED BY EXECUTIVE MANAGEMENT AND THE PRESIDENT/CEO, ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEWS AND ANY NECESSARY CORRECTIONS ARE MADE, THE RETURN IS FILED. THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C HUMAN RESOURCES IS NOTIFIED BY RISK MANAGEMENT AND OTHERS ABOUT POTENTIAL CODE OF ETHICS VIOLATIONS WHICH THEY FULLY INVESTIGATE. A DECISION IS THEN MADE CONCERNING THE ACTIONS THAT SHOULD BE TAKEN FOR THE VIOLATION. FORM 990, PART VI, SECTION B, LINE 15 MARKET DATA IS PREPARED BY THE CHIEF ADMINISTRATIVE OFFICER FOR ALL EXECUTIVE POSITIONS. SUBSTANTIATION OF THE DECISION IS GIVEN IN WRITTEN PERFORMANCE EVALUATIONS FOR ALL EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G PROFESSIONAL & OUTSIDE SERVICES 885,912. FORM 990, PART IX, LINE 24E TELEPHONE AND POSTAGE 1,907,413. ASSOCIATION DUES 377,975. STATIONERY AND SUPPLIES 361,994. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. BELLCO FOUNDATION 7600 E ORCHARD ROAD GREENWOOD VILLAGE CO 80111 474045582 TO FURTHER BELLCO CREDIT UNION'S CHARITABLE ACTIVITIES CO 501(C)(3) PF BELLCO CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BELLCO FOUNDATION B 19040 ACTUAL CASH CONTRIBUTION