2020-11-06T12:39:38-06:00 2019-12-31 840919886 JONES MERTSCHING CPAS PC 32186 CASTLE COURT SUITE 220 EVERGREEN CO 80439 990 2019-01-01 840186846 CREDIT UNION OF DENVER CRED 3032341700 9305 W ALAMEDA AVE LAKEWOOD CO 80226 SCOTT COLLINS CFO 3032341700 2020-11-06 1 ERIC L JONES CPA P00634170 3034809090 2020-11-06 96.78.23.173 2020-11-06 12:39:32 MS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B73A8CD59F8E320325ACAFFA3C9A9E2EF09CBD1F 2019 2022-01-07 14:23:13Z KEITH COWLING 9305 W ALAMEDA AVE LAKEWOOD CO 80226 50029501 0 X WWW.CUDENVER.COM X 1931 CO CREDIT UNION OF DENVER IS COMMITTED TO BEING A LEADER IN: PROVIDING QUALITY FINANCIAL SERVICE, EXCEEDING MEMBERS' EXPECTATIONS, AND ACHIEVING A LOYAL RELATIONSHIP WITH MEMBERS AND STAFF 9 9 167 21 19227 7775 0 0 30954128 34015276 5040911 6455127 21682 19227 36016721 40489630 10000 10000 0 0 9626350 10098861 0 0 0 17201533 20596526 26837883 30705387 9178838 9784243 797284098 885526918 703693375 777726678 93590723 107800240 CREDIT UNION OF DENVER IS COMMITTED TO BEING A LEADER IN: PROVIDING QUALITY FINANCIAL SERVICE, EXCEEDING MEMBERS' EXPECTATIONS, AND ACHIEVING A LOYAL RELATIONSHIP WITH MEMBERS AND STAFF 0 0 THE CREDIT UNION IS OWNED BY APPROXIMATELY 64,000 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, MORTGAGE LENDING, CHECKING, SAVINGS, CERTIFICATE, AND IRA ACCOUNTS, ATM, DEBIT AND CREDIT CARDS, AND OTHER FINANCIAL SERVICES. THE CREDIT UNION RETURNED APPROXIMATELY $8.5 MILLION IN THE FORM OF INTEREST AND DIVIDENDS BY OFFERING COMPETITIVE SAVINGS PRODUCTS. 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 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 12504 0 1 167 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 0 1 0 1 1 0 X CREDIT UNION OF DENVER 3032341700 9305 W ALAMEDA AVE DENVER CO 80226 KATHLEEN A LECLERC CHAIRMAN 4.00 X 0 0 0 LEE ALLEN DIRECTOR 2.00 X 0 0 0 MICHAEL CHEVARRIA DIRECTOR 3.00 X 600 0 0 GARY GRIMSTVEDT DIRECTOR 2.00 X 0 0 0 C KENNETH BEEBE DIRECTOR 2.00 X 0 0 0 JOSEPH WALCHUK DIRECTOR 2.00 X 0 0 0 GEORGE VOLENTIR DIRECTOR 2.00 X 0 0 0 KRISTINA SAPP DIRECTOR 2.00 X 0 0 0 DONNA PIAZZA SEC/TREAS 4.00 X 1600 0 0 KEITH COWLING CEO 40.00 X 386324 0 32590 PATTIE MILLER COO 40.00 X 251352 0 22897 SCOTT COLLINS CFO 40.00 X 188529 0 24766 DONNA RILEY VP IT / FIN SYS 40.00 X 138390 0 21011 BENJAMIN SHUMAKER NETWORK SECURITY 40.00 X 121783 0 11164 DAVID DILLEY VP LENDING 40.00 X 137297 0 22303 DEBRA MEYER VP E-COMMERCE 40.00 X 134166 0 10801 DEBRA HARRIS IT DIRECTOR 40.00 X 104534 0 6768 1464575 0 152300 8 0 1 0 AD MILLER SERVICES INC 7006 S ALTON WAY BLDG E SUITE 100 CENTENNIAL CO 801122019 GENERAL CONTRACTOR 997554 FISERV SOLUTIONS INC PO BOX 99924 GRAPE VINE TX 760999724 CORE SYSTEM PROCESS 637922 DOXIM INC 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 STMT PROC & MAILING 265686 CONNECT FINANCIAL LLC 64 E WINCHESTER ST SUITE 300 MURRAY UT 84107 ONLINE BANKING 181506 HOLST BOETTCHER & TEHRANI LLP 514 KIMBARK ST LONGMONT CO 805020298 LEGAL COUNCIL 123488 5 INTEREST MEMBER LOANS 522100 26492301 26492301 PLASTICS & OUTLET INCOME 522100 3853637 3853637 FEES MEMBER SERVICE 522100 2677480 2677480 OTHER OPERATING INCOME 522100 991858 991858 34015276 6033415 6033415 9002517 959066 8932415 607456 70102 351610 421712 421712 MECHANICAL REPAIR INSURAN 524298 10397 10397 NON-MEMBER ATM FEES 522100 8830 8830 19227 40489630 34015276 19227 6455127 X 10000 10000 1068060 1068060 7294281 7294281 254842 254842 889950 889950 591728 591728 418534 418534 4118049 4118049 862162 862162 228545 228545 175819 175819 155 155 679401 679401 UBIT EXPENSE 3996 3996 DIVIDENDS & INTEREST -M 8523076 8523076 PROVISION FOR LOAN LOSS 2369000 2369000 OFFICE OPERATIONS 2079345 2079345 1138444 1138444 30705387 30705387 0 0 1303286 1490226 60865457 50813434 889756 95581 11877032 11778616 494128761 519855929 463107 585985 17764635 10695013 5667053 7069622 208112276 279706915 4162009 3664047 9815361 10466563 797284098 885526918 3724499 3205814 699968876 774520864 703693375 777726678 X 0 0 0 0 93590723 107800240 93590723 107800240 797284098 885526918 9784243 4425274 0 X 0 1 X 1 0 875000 875000 9439893 5132660 4307233 582525 109172 473353 6867217 5453181 1414036 7069622 MEMBER SHARES, DEPOSITS AND CERTIFICATES 774520864 774520864 X PART X, LINE 2: THE CREDIT UNION'S ACCOUNTING POLICY UNDER FASB ACS 740-10 ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES IS TO RECOGNIZE IN ITS FINANCIAL STATEMENTS ONLY THOSE TAX BENEFITS (REPORTED OR TO BE REPORTED IN ITS TAX RETURNS) WHEN IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE RELEVANT TAXING AUTHORITY. MANAGEMENT CURRENTLY BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT ALL OF ITS SIGNIFICANT TAX POSITIONS, INCLUDING POSITIONS RELATED TO THE UNRELATED BUSINESS INCOME TAX (UBIT), WOULD BE SUSTAINED ON EXAMINATION BY RELEVANT TAXING AUTHORITIES. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY THE 2018, 2017, AND 2016 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. 1 SCHOLARSHIPS FOR COLLEGE 4 10000 PART I, LINE 2: SPONSORSHIPS AND SCHOLARSHIPS ARE INCLUDED IN THE CREDIT UNION'S BUSINESS DEVELOPMENT PLAN AND APPROVED IN CONJUNCTION WITH ANNUAL BUDGET. X 1 1 X X X X X 0 1 0 KEITH COWLING CEO 356324 0 30000 0 0 0 15706 0 16884 0 418914 0 0 0 PATTIE MILLER COO 233852 0 17500 0 0 0 14582 0 8315 0 274249 0 0 0 SCOTT COLLINS CFO 173529 0 15000 0 0 0 11762 0 13004 0 213295 0 0 0 DONNA RILEY VP IT / FIN SYS 128390 0 10000 0 0 0 8242 0 12769 0 159401 0 0 0 DAVID DILLEY VP LENDING 127297 0 10000 0 0 0 8377 0 13926 0 159600 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - THE BOARD OF DIRECTORS APPROVES VOLUNTEER TRAINING REQUESTS AS SUBMITTED. AMOUNTS ARE REPORTED AS TAXABLE IF EXCEED $600. PART I, LINE 4B KEITH COWLING, DONNA RILEY, PATTIE MILLER, AND SCOTT COLLINS SUPPLEMENTAL RETIREMENT PLAN FOR THE CREDIT UNION'S CEO, CFO, COO AND VP/ IT/FINANCIAL SYSTEMS SEE SCHEDULE L DONNA RILEY OFFICER RET PLAN X 1700000 1668077 0 1 1 PATTIE MILLER OFFICER RET PLAN X 3800000 3732458 0 1 1 KEITH COWLING OFFICER RET PLAN X 4300000 4386338 0 1 1 SCOTT COLLINS OFFICER RET PLAN X 2000000 1991743 0 1 1 11778616 FORM 990 - SCH L - PART II THE CREDIT UNION HAS ENTERED INTO SUPPLEMENTAL RETIREMENT PLANS WITH CERTAIN MEMEBERS OF MANAGEMENT (THE EXECUTIVES). THE PLANS ARE STRUCTURED AS A SECURED SPLIT DOLLAR AGREEMENT IN WHICH WHOLE LIFE INSURANCE POLICIES ARE PURCHASED AS A METHOD OF PAYING FOR INSURANCE COVERAGE AND PROVIDING A SOURCE OF SUPPLEMENTAL RETIREMENT INCOME FOR THE EXECUTIVES. UNDER THE AGREEMENTS, THE EXECUTIVES ARE THE OWNERS OF THE POLICIES AND MAKE A COLLATERAL ASSIGNEMNT TO THE CREDIT UNION IN RETURN FOR A LOAN EQUAL TO THE AMOUNT OF PREMIUMS PAID BY THE CREDIT UNION ON BEHALF OF THE EXECUTIVES PLUS ACCRUED INTEREST AT A SPECIFIED RATE. THE LOANS PLUS ACCRUED INTERST ARE SECURED BY THE CASH VALUE OF THE POLICIES, TO BE REPAID BY EITHER THE CASH VALUE OF THE POICIES, OR OUT OF THE LIFE INSURANCE PROCEEDS UPON THE DEATH OF THE EXECUTIVES. FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - PERSONS ELIGIBLE TO BECOME A MEMBER INCLUDE ANYONE WHO LIVES OR WORKS IN JEFFERSON, DENVER, ARAPAHOE, BOULDER, ADAMS, AND DOUGLAS COUNTIES, COLORADO, EMPLOYEES (AND FAMILY MEMBERS) OF THE U.S. DEPARTMENT OF THE INTERIOR, OTHER SELECT GOVERNMENT AGENCIES, AND OTHER SELECT BUSINESSES (SEGS). A $5 DEPOSIT IS REQUIRED FOR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - MEMBERS ELECT THE GOVERNING BODY THROUGH A MAIL BALLOT PROCESS. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - MERGER - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. CHARTER CONVERSION - REQUIRES TWO THIRDS MAJORITY VOTE OF VOTING MEMBERS. DISSOLUTION AND LIQUIDATION - REQUIRES MAJORTY VOTE OF ENTIRE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM, AND THE CEO AND CFO PERFORM A REVIEW FOR REASONABLENESS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 FOR THE CEO THERE IS A COMPENSATION COMMITTEE OF THE BOARD THAT REVIEWS INDUSTRY SALARY COMPARISONS AND A SALARY ADMINISTRATION PROGRAM PROVIDED BY A THIRD PARTY AND DOCUMENTS THEIR DECISION. FOR ALL OTHER KEY EMPLOYEES, SIMILAR DATA IS REVIEWED AND DECIDED UPON BY THE CEO. THE ABOVE COMPENSATION COMMITTEE OF THE BOARD REVIEWS AND APPROVES THE SPLIT DOLLAR AGREEMENTS OF ALL KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC OTHER THAN CALL REPORTS MADE AVAILABLE ON NCUA'S WEBSITE. MEMBERS CAN REVIEW NON-CONFIDENTIAL BOARD MEETING MINUTES UPON REQUEST FORM 990, PART IX, LINE 11G OTHER FEES: PROGRAM SERVICE EXPENSES 4,118,049. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,118,049. FORM 990 - PART VI - LINE 12 CONFLICT OF INTEREST POLICY: EACH DIRECTOR SIGNS OATH OF OFFICE BUT THERE IS NO FORMAL CONFLICT OF INTEREST DISCLOSURE OR SPECIFIC POLICY. CU ACCESS CORPORATION 9305 W ALAMEDA AVE LAKEWOOD CO 80226 841450564 FINANCIAL SERVICES CO C 56797 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0