2021-11-15T15:23:51-06:00 2020-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1200 MINNEAPOLIS MN 554022526 990 2020-01-01 880059939 BOULDER DAM CREDIT UNION BOUL 7022937777 PO BOX 61530 BOULDER CITY NV 890061530 ERIC ESTES PRESIDENT & CEO 7022937777 2021-11-12 1 ERIC ESTES 999009999 KACIE MCEWEN P01599614 6123324300 2021-11-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ERIC D ESTES PO BOX 61530 BOULDER CITY NV 890061530 22271791 0 X WWW.BOULDERDAMCU.ORG X 1940 NV WE ARE PEOPLE HELPING PEOPLE BUILD THEIR FUTURES AND REALIZE THEIR DREAMS BY PROVIDING SHARE AND LOAN ACCOUNTS AND OTHER FINANCIAL SERVICES. 7 7 51 9 19640 0 0 0 15744616 14432541 9214457 7463933 20054 20888 24979127 21917362 0 0 7799458 7989219 5559193 6121694 0 0 0 5232835 4540515 18591486 18651428 6387641 3265934 652906191 772081335 570008772 680170072 82897419 91911263 WE ARE PEOPLE HELPING PEOPLE BUILD THEIR FUTURES AND REALIZE THEIR DREAMS. 0 0 ONE OF THE CREDIT UNION'S TWO PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES REAL ESTATE, AUTO, BOAT, RV, AND SIGNATURE AND VISA LOANS TO ELIGIBLE MEMBERS. AS OF 12/31/2020, THE CREDIT UNION HAD 5,443 LOANS WITH A BALANCE OF APPROXIMATELY $214.4 MILLION AND 2,499 VISA CARDS WITH A BALANCE OF APPROXIMATELY $2.030 MILLION. THE SECOND MAIN SERVICE THAT THE CREDIT UNION OFFERS IS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. ELIGIBILITY REQUIRES THAT A PERSON LIVE OR WORK IN BOULDER CITY, NEVADA. DUE TO THE EXCEPTIONAL SERVICE LEVEL PROVIDED BY THE CREDIT UNION, APPROXIMATELY 90% OF ELIGIBLE MEMBERS ARE MEMBER OF THE CREDIT UNION. ONCE AGAIN, THE CREDIT UNION DOES NOT CHARGE FEES FOR DEPOSIT ACCOUNTS; OTHER THAN PUNITIVE FEES FOR OVERDRAFTS AND INSUFFICIENT FUND ITEMS. AT 12/31/2020 THE CREDIT UNION HAD 20,597 MEMBERS TOTALING $678,080,933 IN SHARE DEPOSITS. AN ANCILLARY PRODUCT OFFERED BY THE CREDIT UNION IS THE ELECTRONIC DELIVERY OF SERVICES. THE CREDIT UNION OFFERS DEBIT CARDS, VISA CREDIT CARDS, ATM ACCESS, PHONE ACCOUNT ACCESS AND INTERNET ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. ADDITIONALLY, THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK, WHICH ENABLES MEMBER TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. APPROXIMATELY 60% OF OUR MEMBERS UTILIZE SOME TYPE OF ELECTRONIC DELIVERY SERVICE. 0 0 1 0 0 0 0 0 0 1 1 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 0 0 0 1 10468 0 1 51 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ERIC ESTES 7022937777 PO BOX 61530 BOULDER CITY NV 890061530 DOUG SCHEPPMANN CHAIR 2.00 X X 0 0 0 ROBERT MERRELL VICE CHAIR 2.00 X X 0 0 0 FRANK DISANZA TREASURER 2.00 X X 0 0 0 CHARMAINE FERRARI SECRETARY 2.00 X X 0 0 0 CYNDY ANDERSON DIRECTOR 2.00 X 0 0 0 HELENA BROADBENT DIRECTOR 2.00 X 0 0 0 TINA MULLIS DIRECTOR 2.00 X 0 0 0 ERIC ESTES PRESIDENT / CEO 40.00 X 451707 0 86726 PATRICIA KLINGER OPERATIONS ASSISTANT 40.00 X 425424 0 56642 STEELE HENDRIX EVP 40.00 X 252933 0 86711 MARY BETH CLIFT TELLER SUPERVISOR 40.00 X 152976 0 38505 BARBARA BENNETT LOAN SUPERVISOR 40.00 X 134965 0 44106 LINDA EUGSTER CARDS SERVICES SUPERVISOR 40.00 X 126927 0 42221 PATRICIA BUTLER COLLECTIONS SUPERVISOR 40.00 X 115492 0 40061 1660424 0 394972 11 0 1 0 FISERV 2601 NETWORK BLVD SUITE 600 FRISCO TX 75034 DATA PROCESSING 1783780 UNITED HEALTHCARE PO BOX 94017 PALATINE IL 60094 HEALTH INSURANCE 575131 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STATEMENT PROCESSING AND MAILING 135870 3 LOAN INTEREST 522100 13034787 13034787 SERVICE CHARGES & OTHER FEES 522100 1045565 1025925 19640 OTHER NONINTEREST INCOME 522100 352189 352189 14432541 7705201 7705201 20888 0 20888 20888 20888 113161 354429 -241268 -241268 -241268 21917362 14412901 19640 7484821 7989219 1367349 3276222 683315 493749 301059 80114 1357559 212253 497602 187589 107895 32911 9954 241153 ATM/CARD EXPENSE 942753 LOAN SERVICING EXPENSES 428390 OREO & MH REPO/WRITE DO 137230 ASSOCIATION DUES 77138 227974 18651428 46969623 57376774 3000 2331264 2221970 229209588 216196033 1631 781 4153869 3055207 1098662 1098662 369235767 493580119 4056656 1606996 652906191 772081335 1568780 2089139 568439992 678080933 570008772 680170072 X 0 0 0 0 82897419 91911263 82897419 91911263 652906191 772081335 3265934 5747910 0 X 0 1 X 1 0 10000 150 10000 10000 1 NEVADA CREDIT UNION LEAGUE PAC 6475 W SAHARA AVENUE LAS VEGAS NV 891463036 880270264 10000 PART I-A, LINE 1: BOULDER DAM CREDIT UNION MAKES AN ANNUAL CONTRIBUTION TO THE NEVADA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE (PAC). THIS PAC MAKES CONTRIBUTIONS TO STATE LEVEL CANDIDATES WHO ARE FRIENDS OF CREDIT UNIONS. 1098662 1098662 3055207 3055207 0 1098662 ACCRUED INTEREST/INCOME 1714710 C SHARE INSURANCE DEPOSIT 7963384 C AVAILABLE FOR SALE 428072125 F US GOV'T OBLIGATIONS & FED AGENCY SECURITIES 4989176 C FED AGENCY SEC/RESIDENTIAL MTG-BACKED SEC/SBA POOLS/COLLATERALIZED MTG 42846343 C CU COOPERATIVE SYSTEMS STOCK 20000 C FHLB DEPOSIT / CAPITAL ACCOUNT 7974381 C 493580119 MEMBER SHARES AND DEPOSITS 678080933 678080933 X 16465565 -5451797 -5451797 21917362 0 21917362 13199631 0 13199631 5451797 5451797 18651428 PART X, LINE 2: FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019 MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST REFUND TO MEMBERS RECLASSIFIED TO FUNCTIONAL EXPENSE -5,314,567. OREO WRITE DOWN & MH REPO EXPENSE RECLASSIFIED TO FUNCTIONAL EXPENSE -137,230. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST REFUND TO MEMBERS RECLASSIFIED TO FUNCTIONAL EXPENSE 5,314,567. OREO WRITE DOWN & MH REPO EXPENSE RECLASSIFIED TO FUNCTIONAL EXPENSE 137,230. X 1 1 X X X 0 1 0 ERIC ESTES PRESIDENT / CEO 450417 0 0 0 1290 0 55700 0 33049 0 540456 0 0 0 PATRICIA KLINGER OPERATIONS ASSISTANT 425424 0 0 0 0 0 42093 0 14549 0 482066 0 0 0 STEELE HENDRIX EVP 252177 0 0 0 756 0 50951 0 39642 0 343526 0 0 0 MARY BETH CLIFT TELLER SUPERVISOR 149777 0 0 0 3199 0 30113 0 10775 0 193864 0 0 0 BARBARA BENNETT LOAN SUPERVISOR 132714 0 0 0 2251 0 27047 0 18928 0 180940 0 0 0 LINDA EUGSTER CARDS SERVICES SUPERVISOR 124245 0 0 0 2682 0 25263 0 19164 0 171354 0 0 0 PATRICIA BUTLER COLLECTIONS SUPERVISOR 113627 0 0 0 1865 0 23253 0 18474 0 157219 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - TRAVEL EXPENSES FOR COMPANIONS ARE ALLOWED ONLY WITH APPROVAL OF MANAGEMENT AND DOES NOT ALLOW FOR EXPENSES ABOVE AND BEYOND WHAT IS USUAL AND CUSTOMARY FOR THE LOCATION IN QUESTION. ADDITIONALLY, COMPANION TRAVEL SHOULD NOT BE ALLOWED MORE THAN ONE TIME DURING ANY CALENDAR YEAR AND FOR A PERIOD NOT TO EXCEED ONE WEEK. FORM 1099 IS ISSUED IF THE $600 REPORTING THRESHOLD IS MET. IN 2020 NO SPOUSAL TRAVEL EXCEEDED THE $600 THRESHOLD. PART I, LINE 4B ERIC ESTES, CEO/PRESIDENT, PARTICIPATED IN A SPLIT-DOLLAR LIFE INSURANCE PLAN. THERE WERE NO DISBURSEMENTS IN 2020. ERIC ESTES OFFICER OF CREDIT UNION FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 2100000 2221970 0 1 1 2221970 FORM 990, PART I, LINE 6, VOLUNTEERS: THE 9 VOLUNTEERS REPORTED IN PART I, LINE 6 CONSISTS OF 7 BOARD MEMBERS AND 2 SUPERVISORY COMMITTEE MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 COMPLETED 990 IS REVIEWED BY THE CEO/PRESIDENT, EVP, AND APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS ESTABLISHED AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. SENIOR MANAGEMENT SALARIES ARE SUBJECT TO GENERAL INDEX INCREASES APPLIED TO ALL STAFF AND RECOMMENDED BY THE CEO TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 QUARTERLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE CREDIT UNION'S OFFICE. GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION" THE 2020 FORM 990 DOES NOT ALLOW PDF ATTACHMENTS TO BE INCLUDED WITH THE ELECTRONICALLY FILED FORM 990, WITH THE EXCEPTION OF SPECIFIC ATTACHMENTS REQUIRED BY THE IRS. BOULDER DAM CREDIT UNION HAS AN E-FILE REQUIREMENT AND CANNOT PAPER FILE UNLESS REQUIRED TO DO SO BY THE IRS. IF A PAPER COPY OF THE RETURN IS FILED WHEN IT IS NOT REQUIRED THE IRS MAY CONSIDER THE RETURN AS NOT TIMELY FILED; THEREFORE THE "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION" IS AVAILABLE UPON REQUEST TO THE IRS.