2025-10-07T20:01:50-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 840146595 BELLCO CREDIT UNION BELL 3036897800 7600 E ORCHARD ROAD 400N GREENWOOD VILLAGE CO 80111 DANIEL KAMPEN EVP/CFO 3036897800 2025-10-07 1 0 AUBREY CLEGG P01076395 3052328272 2025-10-07 2024 2025-03-06 01:10:19Z DOUGLAS A FERRARO 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 502638392 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 9 383 2 1087931 0 0 0 354757651 413198204 56953961 68980979 29260 14514144 411740872 496693327 465029 478240 0 0 43563065 46539533 0 0 0 324095374 397321590 368123468 444339363 43617404 52353964 8259004929 8591833461 7558607166 7839011982 700397763 752821479 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 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 276065 0 1 383 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 DOUGLAS FERRARO PRESIDENT/CEO/DIRECTOR 40.00 X X 1593843 0 57331 STEVEN ANGELIER BOD/CHAIRMAN 5.00 X 65250 0 0 WALKER FLEMING BOD/DIRECTOR 4.00 X 45250 0 0 MARK GOODMAN BOD/DIRECTOR 4.00 X 40750 0 0 C DAVID KIKUMOTO BOD/SECRETARY/TREASURER 5.00 X 45250 0 0 PETER KIRCHHOF BOD/DIRECTOR 4.00 X 40750 0 0 ANDREW MURRAY BOD/DIRECTOR 4.00 X 45250 0 0 JANE PRANCAN BOD/DIRECTOR 4.00 X 45250 0 0 JOSEFINA RAPHAEL BOD/DIRECTOR 4.00 X 9834 0 0 LAURA SONDERUP BOD/VICE CHAIR 5.00 X 45250 0 0 MARIA SPRAY BOD/DIRECTOR/SUPERVISORY 6.00 X 45250 0 0 DANIEL KAMPEN EVP/CFO 40.00 X 1153075 0 339341 JOHN RIVERA SVP/CRO 40.00 X 508086 0 223467 JACK PARGEON SVP-FINANCE 40.00 X 513319 0 249435 JUAN CARLOS CAMPOS SVP GENERAL COUNSEL/COMPLIANCE 40.00 X 457169 0 50738 WENDY JONES SVP-CHRO 40.00 X 304153 0 165215 SUSAN RICE SVP-COMMERCIAL LENDING 40.00 X 385630 0 50558 MATTHEW KAHN SVP-CONSUMER LENDING 40.00 X 416776 0 72032 TIM BILLINGS SVP TREASURY & ANALYTICS 40.00 X 400648 0 31333 REBECCA STEMBEL SVP-CMEO 40.00 X 436363 0 173179 ALVIN MCCARTHY COMMERCIAL BUSINESS OFFICER 40.00 X 860679 0 42609 GREGORY LUNDSTROM COMMERCIAL BUSINESS OFFICER 40.00 X 649688 0 42820 JENNA MCFARLANE VP-MARKETING 40.00 X 269075 0 28389 STACIE ZIDAN VP-RETAIL DELIVERY 40.00 X 246984 0 34751 SHARON VAUGHN VP-OPERATIONS 40.00 X 244151 0 19843 8867723 0 1581041 81 0 1 0 NEWGROUND INTERNATIONAL INC PO BOX 6228 CAROL STREAM IL 60197 BRANCH DESIGN SERVICES 17494152 FISERV INC PO BOX 208457 DALLAS TX 75320 FINANCIAL SERVICE TECHNOLOGY 2501486 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT 2458664 STANDARD REGISTER INC DBA TAYLOR COMMUNI PO BOX 840655 DALLAS TX 75284 STATEMEMENT PROCESSING 2435772 VISA INC 900 METRO CENTER BLVD FOSTER CITY CA 94404 CARD SERVICES 1996240 90 INCOME ON LOANS 522100 366114194 366114194 FEES/CHARGES/OTHER 522100 45996079 45996079 FINANCE & INSURANCE 520000 1087931 1087931 413198204 65995458 65995458 8930586 5945065 2985521 2985521 2985521 OTHER NON-OPERATING INCOME 522100 14478572 14478572 MORTGAGE SERVICING RIGHTS CAPITAL 522100 35572 35572 14514144 496693327 495605396 1087931 0 X 478240 8009775 28884540 3282367 3722012 2640839 31551288 794055 614698 1155021 5954274 6576766 19522664 8012500 176999 126364 232933014 5430087 264171 PROVISION FOR LOAN LOSS 54925593 ATM/CREDIT CARD 12797478 LOAN SERVICING 9602949 TELEPHONE AND POSTAGE 2777716 4105953 444339363 828761950 704683610 105024367 110940963 3038762 1927388 3696521 2064997 6562536569 6843728684 965030 -1726980 124409947 54027603 43210451 70382344 408270931 599129354 45378887 56785053 258121461 203918048 8259004929 8591833461 99892459 82398063 650000000 800000000 6808714707 6956613919 7558607166 7839011982 X 0 0 0 0 700397763 752821479 700397763 752821479 8259004929 8591833461 52353964 69752 0 X X 0 1 X 1 0 725 725 725 1 GO WEST CREDIT UNION ASSOCIATION (COLORADO CUPAC) 18000 INTERNATIONAL BLVD SUITE 11 SEATAC WA 98188 910460483 725 29181265 29181265 35489815 11354252 24135563 21377803 10669113 10708690 31115469 24889774 6225695 7245595 7114464 131131 70382344 SHARES 1360395356 SHARE DRAFTS 1188694585 MONEY MARKET 1816444354 CERTIFICATES 2367309226 IRA ACCOUNTS 223770398 6956613919 X 495000507 0 495000507 1692820 1692820 496693327 442646543 0 442646543 1692820 1692820 444339363 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 2023, 2022, AND 2021 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER LOSSES REPORTED AS A REDUCTION OF GAINS IN THE AUDITED FINANCIAL STATEMENTS BUT REPORTED IN THE STATMENT OF EXPENSES WITHIN FORM 990 1,692,820. PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER LOSSES REPORTED AS A REDUCTION OF GAINS IN THE AUDITED FINANCIAL STATEMENTS BUT REPORTED IN THE STATMENT OF EXPENSES WITHIN FORM 990 1,692,820. 1 BELLCO FOUNDATION 7600 E ORCHARD ROAD GREENWOOD VILLAGE CO 80111 474045582 501(C)(3) 478240 0 CHARITABLE CONTRIBUTION 1 0 PART I, LINE 2: THESE ARE CHARITABLE CONTRIBUTIONS TO THE CREDIT UNION-SPONSORED PRIVATE FOUNDATION, BELLCO FOUNDATION. THE BOARD OF THE FOUNDATION IS COMPRISED OF EMPLOYEES OF BELLCO CREDIT UNION. THE BOARD PROVIDES OVERSIGHT TO ENSURE THE FUNDS CONTRIBUTED TO THE FOUNDATION ARE USED APPROPRIATELY IN CARRYING OUT THE FOUNDATION'S MISSION. X X X X 1 1 X X X X 0 1 0 DOUGLAS FERRARO PRESIDENT/CEO/DIRECTOR 982519 0 605847 0 5477 0 35100 0 22231 0 1651174 0 0 0 DANIEL KAMPEN EVP/CFO 709901 0 435500 0 7674 0 327600 0 11741 0 1492416 0 0 0 ALVIN MCCARTHY COMMERCIAL BUSINESS OFFICER 136258 0 720596 0 3825 0 28712 0 13897 0 903288 0 0 0 JACK PARGEON SVP-FINANCE 350985 0 157000 0 5334 0 229234 0 20201 0 762754 0 0 0 JOHN RIVERA SVP/CRO 350023 0 154000 0 4063 0 203266 0 20201 0 731553 0 0 0 GREGORY LUNDSTROM COMMERCIAL BUSINESS OFFICER 131925 0 517070 0 693 0 27600 0 15220 0 692508 0 0 0 REBECCA STEMBEL SVP-CMEO 306733 0 129000 0 630 0 143049 0 30130 0 609542 0 0 0 JUAN CARLOS CAMPOS SVP GENERAL COUNSEL/COMPLIANCE 314338 0 141025 0 1806 0 27600 0 23138 0 507907 0 0 0 MATTHEW KAHN SVP-CONSUMER LENDING 286146 0 130000 0 630 0 42052 0 29980 0 488808 0 0 0 WENDY JONES SVP-CHRO 299523 0 4000 0 630 0 135235 0 29980 0 469368 0 0 0 SUSAN RICE SVP-COMMERCIAL LENDING 264061 0 119763 0 1806 0 40878 0 9680 0 436188 0 0 0 TIM BILLINGS SVP TREASURY & ANALYTICS 273342 0 125500 0 1806 0 21653 0 9680 0 431981 0 0 0 JENNA MCFARLANE VP-MARKETING 224345 0 44100 0 630 0 18709 0 9680 0 297464 0 0 0 STACIE ZIDAN VP-RETAIL DELIVERY 202359 0 44000 0 625 0 17616 0 17135 0 281735 0 0 0 SHARON VAUGHN VP-OPERATIONS 199391 0 43000 0 1760 0 19418 0 425 0 263994 0 0 0 PART I, LINE 4B DAN KAMPEN, JACK PARGEON, JOHN RIVERA, WENDY JONES, AND REBECCA STEMBEL PARTICIPATE IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. NO PARTICIPANTS RECEIVED A BENEFIT PAYOUT DURING 2024. THE CREDIT UNION ACCRUED DEFERRED COMPENSATION BENEFIT EXPENSES FOR THE FOLLOWING PARTICIPANTS DURING 2024: D. KAMPEN: $300,000 J. PARGEON: $207,284 J. RIVERA: $164,587 R. STEMBEL: $100,000 W. JONES: $100,000 DANIEL KAMPEN EVP/CFO FIXED CHOICE LOC X 684250 373113 0 0 1 JACK PARGEON SVP-FINANCE MORTGAGE LOAN X 531000 430413 0 0 1 JACK PARGEON SVP-FINANCE FIXED CHOICE LOC X 331735 271362 0 0 1 JOHN RIVERA SVP/CRO FIXED CHOICE LOC X 35001 24013 0 0 1 JOHN RIVERA SVP/CRO MORTGAGE LOAN X 376000 251802 0 0 1 JOHN RUBY FORMER SVP/CLO - CHIEF ADVOCACY OFFICER VARIBLE LOC X 100000 20952 0 0 1 JUAN CARLOS CAMPOS SVP GENERAL COUNSEL/COMPLIANCE OFFICER MORTGAGE LOAN X 210000 122277 0 0 1 REBECCA STEMBEL SVP-CMEO LINE OF CREDIT X 9500 9386 0 0 1 SUSAN RICE SVP-COMMERCIAL LENDING MORTGAGE LOAN X 560850 545808 0 0 1 TIM BILLINGS SVP TREASURY & ANALYTICS AUTO LOAN X 34550 15871 0 0 1 2064997 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 1,155,021. FORM 990, PART IX, LINE 24E OTHER LOSSES 1,692,820. MISCELLANEOUS 1,361,808. ASSOCIATION DUES 560,167. STATIONERY AND SUPPLIES 491,158. 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 OPEN TECHNOLOGY SOLUTIONS 9189 SOUTH JAMAICA STREET FLOOR 2 ENGLEWOOD CO 801125946 IT SERVICES CO RELATED 9195869 0 0 0.33340 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BELLCO FOUNDATION B 478240 ACTUAL CASH CONTRIBUTION OPEN TECHNOLOGY SOLUTIONS LLC B 54000 CAPITAL CONTRIBUTION