2020-03-03T18:02:26-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2018-01-01 840500890 PREMIER MEMBERS CREDIT UNION PREM 3036577592 5505 ARAPAHOE AVENUE BOULDER CO 80303 CARLOS PACHECO CEO 3036577592 2020-02-20 1 MARY C GREEN P00447183 6022662248 67.137.57.251 2020-02-20 08:40:06 US P FD94BE241EB30D59D427851B854338419E5FBD2E 94307BE716D664C10DC46CE445DCF2BF31E531AB 2018 2020-09-23 17:36:50Z X CARLOS PACHECO 5505 ARAPAHOE AVENUE BOULDER CO 80303 56780000 0 X WWW.PMCU.ORG X 1950 CO TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. 15 15 327 15 46969 0 0 0 45630484 51328548 2292492 4156667 572762 1294785 48495738 56780000 0 0 3633344 6798833 17306544 18800078 0 0 0 18927059 19419944 39866947 45018855 8628791 11761145 1017516033 1134091474 898822717 1004796579 118693316 129294895 TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND MAKE LOANS FROM THESE SHARES TO ITS MEMBERS. 0 0 PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OF THE CREDIT UNION. OVER 66,000 MEMBERS SERVED. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 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 7 0 327 1 1 1 0 0 0 0 0 0 0 X 15 15 1 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X MARK WIETE 3036577000 5505 ARAPAHOE AVENUE BOULDER CO 80303 MARK GISI CHAIR PERSON 2.00 X X 0 0 0 WAYNE TURNACLIFF VICE CHAIRPERSON 2.00 X X 0 0 0 HARVEY A KAMIONKA TREASURER 2.00 X X 0 0 0 JIM CLEMMER CO-TREASURER 2.00 X X 0 0 0 MICHAEL MEYERS SECRETARY 2.00 X X 0 0 0 KEN BLACK CO-SECRETARY 2.00 X X 0 0 0 JIM ELLIS DIRECTOR 2.00 X 0 0 0 BRIAN GISI DIRECTOR 2.00 X 0 0 0 ELAINE HUTCHINGS DIRECTOR 2.00 X 0 0 0 PETER JANSKY DIRECTOR 2.00 X 0 0 0 HARVEY E KAMIONKA DIRECTOR 2.00 X 0 0 0 WADE PAYNE DIRECTOR 2.00 X 0 0 0 JOANNE TILLEY DIRECTOR 2.00 X 0 0 0 LYNEL VALLIER DIRECTOR 2.00 X 0 0 0 JANET BEAVER DIRECTOR 2.00 X 0 0 0 RICK ALLEN CEO/PRESIDENT 40.00 X 272890 0 15273 CARLOS PACHECO CEO/PRESIDENT 40.00 X 609205 0 365366 MARK WIETE CHIEF FINANCIAL OFFICER 40.00 X 266934 0 31522 BRIAN RESCH CHIEF ADMINISTRATION OFFICER 40.00 X 219143 0 28318 MATT RARDEN CHIEF OPERATING OFFICER 40.00 X 200859 0 17282 LINDSAY SANDHAM CHIEF LENDING OFFICER 40.00 X 197814 0 20372 MARK ROWAN CHIEF INFORMATION OFFICER 40.00 X 177821 0 22035 JASON BAUER CHIEF MARKETING OFFICER 40.00 X 146833 0 25066 CLAIRE LINDLEY VP FINANCE 40.00 X 152954 0 14622 CHAD WILCOX SVP LENDING OPERATIONS 40.00 X 132782 0 13878 JESSICA HOYLE SVP RETAIL DELIVERY 40.00 X 132636 0 13731 JACK KITTEL AVP IT OPERATIONS 40.00 X 126207 0 24874 STEVEN SHRADER VP RETAIL OPERATIONS 40.00 X 123966 0 12496 2760044 0 604835 20 0 1 0 THE NEENAN COMPANY LLLP 3225 S TIMBERLINE STE 100 FORT COLLINS CO 80525 BRANCH CONSTRUCTION 1282887 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 DATA PROCESSOR 678093 HOLST BOETTCHER & TEHRANI PO BOX 298 LONGMONT CO 80502 LEGAL 599820 FISERV 75 REMITTANCE DR SUITE 6943 CHICAGO IL 60675 DATA PROCESSOR 410010 FORTNIGHT COLLECTIVE LLC 1727 15TH ST STE 200 BOULDER CO 80302 MEDIA MARKETING 348491 25 INTEREST ON LOANS FROM MEMBERS 522100 41020751 41020751 FEES AND CHARGES 522100 4654312 4607343 46969 INTERCHANGE INCOME 522100 4509714 4509714 SERVICING FEES 522100 1143771 1143771 51328548 2738837 2738837 1258419 159411 0 0 1258419 159411 1417830 1417830 1294785 1294785 1294785 56780000 52576364 46969 4156667 X 6798833 2616733 12801492 424244 1924989 1032620 57006 150694 257795 1748576 3302649 1884704 475822 1421 2651513 PROVISION FOR LOAN LOSS 4120129 LOAN AND DEPOSIT SERVIC 1740778 COOP NETWORK FEES 844093 CREDIT AND DEBIT CARD E 802788 1381976 45018855 4590813 4831666 109126096 82093185 2258121 5124506 780397901 898202290 1119975 700476 25311244 8285788 13237732 17025456 66867297 70156331 6464580 6049897 7914804 6835513 25538714 43072154 1017516033 1134091474 16082656 14839790 882740061 989956789 898822717 1004796579 X 0 0 0 0 118693316 129294895 118693316 129294895 1017516033 1134091474 11761145 -1159566 0 X 0 1 X 1 0 5169092 5169092 13520872 4457294 9063578 5113536 3828494 1285042 1507744 1507744 17025456 MEMBERS' SHARE AND SAVINGS ACCOUNT 989956789 989956789 X PART X, LINE 2: THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2018 AND 2017. X 0 1 X X X X 0 1 0 RICK ALLEN CEO/PRESIDENT 201974 0 70916 0 0 0 8934 0 6339 0 288163 0 0 0 CARLOS PACHECO CEO/PRESIDENT 498399 0 110806 0 0 0 349141 0 16225 0 974571 0 0 0 MARK WIETE CHIEF FINANCIAL OFFICER 240673 0 26261 0 0 0 12117 0 19405 0 298456 0 0 0 BRIAN RESCH CHIEF ADMINISTRATION OFFICER 197526 0 21617 0 0 0 10094 0 18224 0 247461 0 0 0 MATT RARDEN CHIEF OPERATING OFFICER 181543 0 19316 0 0 0 9028 0 8254 0 218141 0 0 0 LINDSAY SANDHAM CHIEF LENDING OFFICER 178506 0 19308 0 0 0 8324 0 12048 0 218186 0 0 0 MARK ROWAN CHIEF INFORMATION OFFICER 160288 0 17533 0 0 0 8187 0 13848 0 199856 0 0 0 JASON BAUER CHIEF MARKETING OFFICER 132156 0 14677 0 0 0 6842 0 18224 0 171899 0 0 0 CLAIRE LINDLEY VP FINANCE 141816 0 11138 0 0 0 6960 0 7662 0 167576 0 0 0 JACK KITTEL AVP IT OPERATIONS 116476 0 9731 0 0 0 6069 0 18805 0 151081 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS A 457 F NONQUALIFIED DEFERRED COMPENSATION PLAN FOR CARLOS PACHECO. UNDER THE TERMS OF THE PLANS, THE PARTICIPANT IS ENTITLED TO THE EARNINGS AND APPRECIATION ON THE DEFERRED COMPENSATION PLAN INVESTMENTS. THERE WAS A CONTRIBUTION OF $336,696 AND NO DISTRIBTUIONS FOR 2018. SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS MADE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO A MEMBER OF MANAGEMENT. THE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF THE RESPECTIVE LIFE INSURANCE POLICIES. CARLOS PACHECO CEO FIRST MORTGAGE X 608000 488897 0 1 1 BRIAN RESCH CAO FIRST MORTGAGE X 308000 205289 0 0 1 JASON BAUER CMO FIRST MORTGAGE X 364000 301737 0 0 1 MARK WIETE CFO FIRST MORTGAGE X 400000 388156 0 0 1 MATT RARDEN COO FIRST MORTGAGE X 286500 254043 0 0 1 LINDSAY SANDHAM CLO FIRST MORTGAGE X 225001 190804 0 0 1 JASON BAUER CMO HELOC X 190000 127693 0 0 1 BRIAN RESCH CAO HELOC X 200000 185856 0 0 1 LINDSAY SANDHAM CLO USED AUTO X 27541 13996 0 0 1 MARK WIETE CFO USED AUTO X 42092 27612 0 0 1 MARK WIETE CFO HELOC X 95000 93734 0 0 1 MARK WIETE CFO CREDIT CARD X 20000 17632 0 0 1 MATT RARDEN COO USED AUTO X 36000 19484 0 0 1 MATT RARDEN COO CREDIT CARD X 25000 60 0 0 1 MATT RARDEN COO HELOC X 25000 13072 0 0 1 LINDSAY SANDHAM CLO FIRST MORTGAGE X 280000 268589 0 0 1 LINDSAY SANDHAM CLO NEW AUTO X 31174 20388 0 0 1 RICK ALLEN PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 2822800 2507464 0 0 1 5124506 FORM 990, AMENDED RETURN: BASED ON FURTHER REVIEW OF THE CREDIT UNION'S INSURANCE INCOME STREAMS THAT WERE REPORTED ON THE 990T, IT WAS DETERMINED THAT THESE INCOME STREAMS WERE RECEIVED UNDER A ROYALTY AGREEMENT AND THEREFORE NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX. THEREFORE, THE FORM 990 AND 990T NEEDED TO BE AMENDED TO CORRECT SOME OF THE INFORMATION ORIGINALLY REPORTED WHICH IS AS FOLLOWS: FORM 990, PAGE 1, PART I, LINES 7A AND 7B: THESE AMOUNTS WERE CHANGED TO REFLECT THE ACCURATE BALANCE OF UNRELATED BUSINESS REVENUE AND NET UNRELATED BUSINESS INCOME AS REPORTED ON THE 990T. LINE 7A ORIGINALLY WAS $124,639 AND HAS BEEN REDUCED TO $46,969. LINE 7B ORIGINALLY WAS $88,430 AND HAS BEEN REDUCED TO $0. FORM 990, PAGE 9, PART VIII, LINE 2B AND 12: THE AMOUNTS IN COLUMN (B) AND (C) WERE UPDATED TO REFLECT THE ACCURATE BALANCE OF UNRELATED BUSINESS INCOME. LINE 2B, COLUMN (B) WAS ORIGINALLY $4,529,673 AND WAS INCREASED TO $4,607,343. LINE 2B, COLUMN (C) WAS ORIGINALLY $124,639 AND WAS REDUCED TO $46,969. LINE 12, COLUMN (B) WAS ORIGINALLY $52,498,694 AND WAS INCREASED TO $52,576,364. LINE 12, COLUMN (C) WAS ORIGINALLY $124,639 AND WAS REDUCED TO $46,969. FORM 990, PART VI, SECTION A, LINE 2 MARK GISI, CHAIR PERSON OF THE BOARD OF DIRECTORS, AND BRIAN GISI, BOARD OF DIRECTOR-MEMBER, HAVE A FAMILY RELATIONSHIP. HARVEY A. KAMIONKA, TREASURER OF THE BOARD OF DIRECTORS, AND HARVEY E. KAMIONKA, BOARD OF DIRECTOR-MEMBER, ALSO HAVE A FAMILY RELATIONSHIP. 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 EMPLOYEES AND RETIREES OF THE BOULDER VALLEY SCHOOL DISTRICT, THE EMPLOYEES AND RETIREES OF THE INTERNATIONAL BUSINESS MACHINES (IBM) CORPORATION, AND CERTAIN RELATED ORGANIZATIONS, WHO WORK IN COLORADO, WYOMING, MONTANA, IDAHO AND UTAH, TEACHERS AND RETIREES OF THE ADAMS COUNTY SCHOOL DISTRICT, VARIOUS APPROVED SELECT EMPLOYEE GROUPS AND THEIR FAMILIES AND THE INDIVIDUALS WHO JOINED THE CREDIT UNION BY CONTRIBUTING TO SELECT CHARITABLE ORGANIZATIONS. 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 ANNUALLY ELECT THE BOARD OF DIRECTORS TO SERVE MULTIPLE-YEAR TERMS BY MAILING IN BALLOTS OR VOTING AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B VARIOUS DECISIONS MADE BY THE BOARD OF DIRECTORS FOR A CREDIT UNION ARE SUBJECT TO APPROVAL BY THE MEMBERS OF THE CREDIT UNION AS SET FORTH IN NCUA RULES AND REGULATIONS AND APPLICABLE STATE REGULATIONS. FORM 990, PART VI, SECTION A, LINE 8B THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED BY THE CEO AND THE CHIEF FINANCIAL OFFICER PRIOR TO FILING. THE BOARD OF DIRECTORS RECEIVE A COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT THE TIME OF HIRE AND AT LEAST ONCE EACH YEAR, ALL EMPLOYEES ARE ASKED TO COMPLETE A WRITTEN ACKNOWLEDGMENT TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. CREDIT UNION VOLUNTEERS ARE SIMILARILY REQUESTED TO DISCLOSE ANY SUCH CONFLICTS OF INTEREST UPON TAKING OFFICE. THE BOARD OF DIRECTORS REVIEWS THE CODE OF CONDUCT POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 FOR THE CEO POSITION, THE BOARD CHAIRPERSON ANNUALLY CONDUCTS RESEARCH ON EXECUTIVE COMPENSATION, UTILIZING INDUSTRY DATA FROM ORGANIZATIONS SUCH AS CUES AND D. HILTON. THE BOARD APPROVES THE RECOMMENDED COMPENSATION STRUCTURE FOR THE CEO POSITION. FOR TOP MANAGEMENT COMPENSATION, THE CREDIT UNION UTILIZED BALANCEDCOMP AS AN INDEPENDENT COMPENSATION CONSULTANT, AND ALSO VALIDATES BALANCEDCOMP'S DATA AGAINST INDUSTRY SURVEYS SUCH AS CUES. THIS IS DOCUMENTED IN THE CEO'S PERSONNEL FILE. AS STATED ABOVE, FOR TOP MANAGEMENT COMPENSATION, THE CREDIT UNION UTILIZED BALANCEDCOMP AS AN INDEPENDENT COMPENSATION CONSULTANT, AND ALSO VALIDATES BALANCEDCOMP'S DATA AGAINST INDUSTRY SURVEYS SUCH AS CUES. THE TOP OFFICIALS OR ANYONE ELSE WHO REPORTS TO THE CEO HAS AN ANNUAL EVALATION PERFORMED BY THE CEO. THIS ALSO DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE CREDIT UNION. MONTHLY FINANCIAL STATEMENTS ARE AVAILABLE AND ARE ON DISPLAY AT THE CREDIT UNION. QUARTERLY FINANCIAL DATA IS ACCESSIBLE TO THE PUBLIC AT WWW.NCUA.GOV. FORM 990, PART IX, LINE 24E ONLINE BANKING EXPENSES 656,527. SHARED BRANCHING EXPENSES 376,897. MISCELLANEOUS 348,552. FOOTHILLS FINANCIAL SERVICES INC 5505 ARAPAHOE AVENUE BOULDER CO 80303 840571011 INVESTMENT SERVICES CO PREMIER MEMBERS CREDIT UNION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0