2020-11-16T13:47:10-06:00 2019-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2019-01-01 880063808 GREATER NEVADA CREDIT UNION GREA 7758822060 PO BOX 2128 CARSON CITY NV 89702 JOYCE WHITNEY-SILVA EVP/CFO 7758861329 2020-11-10 1 WENDY CAMPOS P00448102 5032421447 2020-11-10 172.9.161.112 2020-11-10 21:25:27 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 2CA4604677747A1B8287DC7DD1B2F222DAF5CAE3 2019 2022-01-07 14:23:13Z WALLACE MURRAY PO BOX 2128 CARSON CITY NV 89702 128932819 0 X WWW.GNCU.ORG X 1949 NV TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS. 7 7 403 16 472073 0 0 0 63785055 67657392 4437265 5596326 506897 657005 68729217 73910723 455731 570904 0 0 21414123 24474764 0 0 0 32541092 37832233 54410946 62877901 14318271 11032822 964645139 1062492971 867524559 951434513 97120580 111058458 TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS 0 0 FINANCIAL SERVICES - BANKING ACTIVITIES, INCLUDING LOANS AND DEPOSITS. TOTAL MEMBERSHIP TO THE CREDIT UNION GREW TO 73,378 IN 2019, AN INCREASE OF 4,700 FOR THE YEAR. DURING 2019, THE CREDIT UNION AND ITS AFFILIATES FUNDED $146 MILLION IN CONSUMER LOANS. MORTGAGE SERVICES - ORIGINATING, SELLING, AND SERVICING OF REAL ESTATE MORTGAGES. DURING 2019, THE CREDIT UNION FUNDED $271.8 MILLION IN MORTGAGE LOANS. COMMERCIAL LENDING - ORIGINATING, SELLING, AND SERVICING OF COMMERCIAL LOANS. DURING 2019, THE CREDIT UNION FUNDED $60 MILLION IN COMMERCIAL LOANS. 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 20442 0 1 403 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 1 0 1 1 1 0 0 X JOYCE WHITNEY-SILVA 7758861329 451 EAGLE STATION LANE CARSON CITY NV 89701 ROB JOINER CHAIR 4.00 X X 0 0 0 WILLIAM ARENSDORF VICE CHAIR 8.00 X X 0 0 0 JON STEELE SECRETARY 4.00 X X 0 0 0 ALEX TALMANT TREASURER 4.00 X X 0 0 0 BARBARA BYINGTON DIRECTOR 4.00 X 0 0 0 TRAVIS LEE DIRECTOR 4.00 X 0 0 0 PAUL RICHEY DIRECTOR 4.00 X 0 0 0 WALLACE MURRAY PRESIDENT/CEO 40.00 X 540042 0 17135 JOYCE WHITNEY-SILVA EVP/CFO 40.00 X 250115 0 28413 JEREMY GILPIN EVP/COMMERCIAL LENDING 40.00 X 398291 0 19985 DEAN ALTUS EVP/COO 40.00 X 264515 0 14898 JAMES ANDERSON EVP/MORTGAGE LENDING 40.00 X 223054 0 22945 NATALIE DUFTY MORTGAGE CONSULTANT 40.00 X 227932 0 17063 NICK SERRANO VP/MORTGAGE LENDING 40.00 X 213503 0 25015 2117452 0 145454 43 0 1 0 FISERV INC PO BOX 80123 CITY OF INDUSTRY CA 91716 CORE PROCESSOR SUPPORT 2794287 EXL MEDIA 803 TAHOE BLVD 7 INCLINE VILLAGE NV 89451 ADVERTISING AGENCY 635948 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 NOTICES AND STATEMENT SERVICING 438647 SECTRAN SECURITY INC PO BOX 227267 LOS ANGELES CA 90022 EQUIPMENT & MAINTENANCE 330753 APPLEONE EMPLOYMENT SERVICES PO BOX 29048 GLENDALE CA 91209 TEMPORARY LABOR 267963 26 INTEREST - MEMBER LOAN 522100 34494032 34494032 FEES & SERVICE CHARGES 522100 13071842 13071842 GAIN ON SALE OF LOANS 522100 9671315 9671315 INTERCHANGE INCOME 522100 6596224 6596224 OTHER NON-INTEREST INC 522100 3823979 3351906 472073 67657392 5743093 5743093 421580 217603 203977 203977 203977 54640315 17411 54723653 80840 -83338 -63429 -146767 -146767 LIFE INSURANCE VALUE 900099 453028 453028 453028 73910723 67185319 472073 6253331 516904 54000 835705 19071248 434831 2475581 1657399 148330 113355 3209379 2776176 2485364 1432123 1787948 611983 390623 5719560 3205002 107826 PROCESSING COSTS 4460649 LOAN LOSS PROVISION 3195758 LOAN SERVICING 2429994 LICENSES AND FEES 1488407 4269756 62877901 29215062 40417163 23138568 148240157 670383026 649051772 2485569 3044137 77837473 28696046 34341401 49141427 149349413 97744538 6569279 17266379 2748171 2671171 46414650 54916227 964645139 1062492971 18895823 12365396 16000000 4812149 832628736 934256968 867524559 951434513 X 0 0 0 0 97120580 111058458 97120580 111058458 964645139 1062492971 11032822 2905056 0 X 0 1 X 1 0 1 3738717 151804842 151436751 4106808 0 11213671 11213671 39988166 10675097 29313069 3595867 2421702 1174165 22820247 15480236 7340011 219522 119011 100511 49141427 LOANS HELD FOR SALE 14241716 ACCRUED INTEREST RECEIVABLE 3043769 NCUSIF DEPOSIT 8324893 DEFERRED COMPENSATION FUNDING 625011 MORTGAGE SERVICING RIGHTS 4745726 CREDIT UNION OWNED LIFE INSURANCE PLANS 17535681 OTHER ASSETS 6399431 54916227 MEMBERS' SHARE AND SAVINGS ACCOUNTS 934256968 934256968 X PART IV, LINE 1B: BORROWER PAYMENTS FOR PRINCIPAL, INTEREST, TAXES AND INSURANCE. 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 FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED 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 UPON 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. CURRENTLY, THE 2018, 2017, AND 2016 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. 1 UNIVERSITY OF NEVADA RENO FOUNDATION 1664 N VIRGINIA ST RENO NV 89557 942781749 501 (C)(3) 60000 EDUCATIONAL ASSISTANCE SPECIAL OLYMPICS NEVADA 5670 WYNN RD SUITE E LAS VEGAS NV 89118 680363121 501 (C)(3) 50000 SPORTS EVENTS FOR PEOPLE WITH DISABILITIES RENOWN HEALTH FOUNDATION 245 E LIBERTY ST 400 RENO NV 89501 942972749 501 (C)(3) 75000 GENERAL SUPPORT 3 0 SCHOLARSHIPS 27 54000 PART I, LINE 2: THE GRANTS MADE ARE CONSIDERED CHARITABLE DONATIONS AND DO NOT REQUIRE FORMAL MONITORING OR REPORTING. X X 0 1 0 WALLACE MURRAY PRESIDENT/CEO 490042 0 50000 0 0 0 9800 0 7335 0 557177 0 0 0 JOYCE WHITNEY-SILVA EVP/CFO 200115 0 50000 0 0 0 15964 0 12449 0 278528 0 0 0 JEREMY GILPIN EVP/COMMERCIAL LENDING 198000 0 200291 0 0 0 9800 0 10185 0 418276 0 0 0 DEAN ALTUS EVP/COO 204515 0 60000 0 0 0 9240 0 5658 0 279413 0 0 0 JAMES ANDERSON EVP/MORTGAGE LENDING 223054 0 0 0 0 0 5403 0 17542 0 245999 0 0 0 NATALIE DUFTY MORTGAGE CONSULTANT 227932 0 0 0 0 0 4614 0 12449 0 244995 0 0 0 NICK SERRANO VP/MORTGAGE LENDING 213503 0 0 0 0 0 7473 0 17542 0 238518 0 0 0 PART I, LINE 4B THE ORGANIZATION HAS A 457(F) DEFERRED COMPENSATION PLAN IN PLACE; JOYCE WHITNEY-SILVA IS THE ONLY PARTICIPANT IN THE PLAN. THE ORGANIZATION CONTRIBUTED $10,000 TO JOYCE WHITNEY-SILVA'S 457(F) PLAN DURING 2019, WHICH HAS BEEN REPORTED AS "RETIREMENT AND DEFERRED COMPENSATION" ON SCHEDULE J, PART II, COLUMN (C). THERE WERE NO TAXABLE DISTRIBUTIONS FROM THE 457(F) PLAN OR AMOUNTS WHICH BECAME TAXABLE DUE TO VESTING DURING 2019. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS ONE CLASS OF MEMBER, WHICH ARE: (I) SHAREHOLDERS OF THE CREDIT UNION WHO LIVE OR WORK IN THE FOLLOWING NEVADA COUNTIES: CARSON CITY, CHURCHILL, CLARK, DOUGLAS, ELKO, ESMERALDA, EUREKA, HUMBOLDT, LANDER, LINCOLN, LYON, MINERAL, NYE, PERSHING, STOREY, WASHOE, WHITE PINE; (II) SPOUSES OF PERSONS WHO DIED WHILE WITHIN THE FIELD OF MEMBERSHIP OF THIS CREDIT UNION; (III) EMPLOYEES OF THIS CREDIT UNION; (IV) PERSONS RETIRED AS PENSIONERS OR ANNUITANTS FROM THE ABOVE EMPLOYMENT; AND (V) MEMBERS OF THEIR IMMEDIATE FAMILIES. MEMBERS DO NOT RECEIVE SHARES OF PROFIT OTHER THAN THROUGH SHARE ACCOUNT DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A FOR EACH VACANCY OF THE BOARD OF DIRECTORS, THE NOMINATING COMMITTEE FILES NOMINATIONS WITH THE SECRETARY OF THE CREDIT UNION AT LEAST 90 DAYS PRIOR TO THE ANNUAL MEETING. NOMINATIONS FOR VACANCIES MAY ALSO BE MADE BY MEMBERS OF THE ORGANIZATION VIA PETITION SIGNED BY 500 MEMBERS OR ONE PERCENT (1%) OF THE MEMBERSHIP ELIGIBLE TO VOTE AT MEETINGS OF THE MEMBERS, WHICHEVER IS SMALLER. SHOULD THERE BE A CONTESTED ELECTION, THE ELECTION IS THEN DETERMINED BY PLURALITY VOTE OPEN TO ALL MEMBERS OF THE ORGANIZATION ELIGIBLE TO VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT IN CONJUNCTION WITH THE ORGANIZATION'S EVP/CFO. THE EVP/CFO, WHO IS A MEMBER OF THE EXECUTIVE MANAGEMENT TEAM, THEN REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT/CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPENSATION SURVEY DATA OBTAINED FROM OUTSIDE CONSULTANTS IS UTILIZED TO DETERMINE APPROPRIATE SALARY AND BENEFIT LEVELS FOR THE PRESIDENT/CEO. SUCH DECISIONS ARE DOCUMENTED BY THE BOARD IN AN EXECUTIVE SESSION. THIS PROCESS WAS LAST COMPLETED AS OF APRIL 1, 2019. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S MONTHLY FINANCIAL STATEMENTS ARE POSTED IN EACH OF THE CREDIT UNION'S BRANCHES. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. GREATER NEVADA LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 880500878 MORTGAGE SERVICES NV 486002 20618692 GREATER NEVADA CREDIT UNION GREATER NEVADA FINANCIAL GROUP LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 811825547 INSURANCE PRODUCTS NV 8407 128964 GREATER NEVADA CREDIT UNION GREATER COMMERCIAL LENDING LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 821499653 COMMERCIAL LENDING NV 2371096 15302780 GREATER NEVADA CREDIT UNION