2018-11-15T13:31:55-06:00 2017-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2017-01-01 880063808 GREATER NEVADA CREDIT UNION GREA 7758822060 PO BOX 2128 CARSON CITY NV 89702 JOYCE WHITNEY-SILVA EVP/CFO 7758861329 2018-11-14 1 WENDY CAMPOS P00448102 5032421447 2018-11-14 12.129.7.100 2018-11-14 11:18:35 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5029E8FD9FE66385FA59B177B15FCADA276E8E0F 2017 2019-02-21 02:37:17Z X WALLACE MURRAY PO BOX 2128 CARSON CITY NV 89702 63778289 0 X WWW.GNCU.ORG X 1949 NV TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS. 7 7 356 16 627998 0 0 0 50212998 60238545 1884925 2721240 391288 443503 52489211 63403288 287922 292517 0 0 17251403 18979185 0 0 0 26990836 31883312 44530161 51155014 7959050 12248274 676914655 873801899 611192660 789773704 65721995 84028195 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 OVER 64,000 IN 2017, AN INCREASE OF NEARLY 10,000 FOR THE YEAR. DURING 2017, THE CREDIT UNION AND ITS AFFILIATES FUNDED NEARLY $165 MILLION IN CONSUMER LOANS. MORTGAGE SERVICES - ORIGINATING, SELLING, AND SERVICING OF REAL ESTATE MORTGAGES. DURING 2017, THE CREDIT UNION FUNDED NEARLY $189 MILLION IN MORTGAGE LOANS. COMMERCIAL LENDING - ORIGINATING, SELLING, AND SERVICING OF COMMERCIAL LOANS. DURING 2017, THE CREDIT UNION FUNDED NEARLY $343 MILLION IN COMMERICAL LOANS. 0 0 0 0 0 0 0 1 0 1 0 0 1 0 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 15102 0 1 356 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 8.00 X X 0 0 0 WILLIAM ARRENSDORF VICE CHAIR 4.00 X X 0 0 0 ALEX TALMANT TREASURER 4.00 X X 0 0 0 JON STEELE SECRETARY 4.00 X X 0 0 0 BARBARA BYINGTON DIRECTOR 4.00 X 0 0 0 VERNON DALTON DIRECTOR 4.00 X 0 0 0 PAUL RICHEY DIRECTOR 4.00 X 0 0 0 WALLACE MURRAY PRESIDENT/CEO 50.00 X 388188 0 17292 JOYCE WHITNEY-SILVA EVP/CFO 50.00 X 214489 0 26946 DEAN ALTUS EVP/COO 50.00 X 214069 0 11951 JAMES ANDERSON EVP/MORTGAGE LENDING 50.00 X 258642 0 19009 JENNY CASSELMAN VP/MORTGAGE SERVICES 50.00 X 195390 0 4645 NICK SERRANO VP/MORTGAGE LENDING 50.00 X 201065 0 19048 JESSE HARTFORD GOV'T LENDING RELATIONSHIP OFFICER 50.00 X 183128 0 5960 NATALIE DUFTY MORTGAGE CONSULTANT 50.00 X 208430 0 14543 JEREMY GILPIN EVP/COMMERCIAL LENDING 50.00 X 190182 0 19704 2053583 0 139098 33 0 1 0 FISERV INC PO BOX 80123 CITY OF INDUSTRY CA 91716 CORE PROCESSOR SUPPORT 2630689 EXL MEDIA 803 TAHOE BOULEVARD 7 INCLINE VILLAGE NV 89451 ADVERTISING AGENCY 522437 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 NOTICES AND STATEMENT SERVICING 383928 SECTRAN SECURITY INC PO BOX 227267 LOS ANGELES CA 90022 CASH TRANSPORT AND EQUIPMENT MAINTENANCE 267983 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 EQUIPMENT MAINTENANCE 173494 22 INTEREST - MEMBER LOAN 522100 26643617 26643617 FEES & SERVICE CHARGES 522100 14240476 14240476 GAIN ON SALE OF LOANS 522100 9778449 9778449 OTHER NON-INTEREST INC 522100 4794387 4166389 627998 INTERCHANGE INCOME 522100 4781616 4781616 60238545 2751788 2751788 39302 0 39302 39302 39302 344453 375001 -30548 -30548 -30548 LIFE INSURANCE VALUE 900099 404201 404201 404201 63403288 59610547 627998 3164743 252517 40000 1150585 13969612 312591 2234601 1311796 129955 97155 2282847 1763891 2092402 634525 1497086 407577 218268 2120903 2324771 88223 LOAN SERVICING 7134722 PROCESSING COSTS 4438739 LOAN LOSS PROVISION 2433346 LICENSES AND FEES 1305006 2913896 51155014 29571677 85998072 53282302 30310690 457513108 566707568 1224116 2100262 54566031 23014018 28735012 31552013 64224343 96448257 8307200 12975552 898573 34056897 46810912 676914655 873801899 5535267 42338212 2609431 5553115 603047962 741882377 611192660 789773704 X 0 0 0 0 65721995 84028195 65721995 84028195 676914655 873801899 X 12248274 -407631 6465557 X 0 1 X 1 0 1 3770448 11058834 11510839 3318443 0 10213671 10213671 22753413 9159541 13593872 1827603 1665917 161686 18380090 12093668 6286422 1391254 94892 1296362 31552013 LOANS HELD FOR SALE 6210110 ACCRUED INTEREST RECEIVABLE 2662344 NCUSIF DEPOSIT 8180446 DEFERRED COMPENSATION FUNDING 512010 MORTGAGE SERVICING RIGHTS 4231339 CREDIT UNION OWNED LIFE INSURANCE PLANS 16637818 OTHER ASSETS 8376845 46810912 MEMBERS' SHARE AND SAVINGS ACCOUNTS 741882377 741882377 X PART IV, LINE 1B: BORROWER PAYMENTS FOR PRINCIPAL, INTEREST, TAXES AND INSURANCE. PART X, LINE 2: THE INCOME TAXES TOPIC OF THE FASB 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 INTERNAL REVENUE CODE (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. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. 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 CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2016, 2015, AND 2014 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE 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. 0 UNIVERSITY OF NEVADA RENO 1664 N VIRGINIA STREET RENO NV 89557 886000024 STATE OF NEVADA 33565 EDUCATIONAL ASSISTANCE SPECIAL OLYMPICS NEVADA 5670 WYNN ROAD SUITE E LAS VEGAS NV 89118 680363121 501(C)(3) 30000 SPORTS EVENTS FOR PEOPLE WITH DEVELOPMENTAL DISABILITIES 2 0 SCHOLARSHIPS 21 40000 X X X 0 1 0 WALLACE MURRAY PRESIDENT/CEO 338188 0 50000 0 0 0 6401 0 10891 0 405480 0 0 0 JOYCE WHITNEY-SILVA EVP/CFO 170739 0 43750 0 0 0 16055 0 10891 0 241435 0 0 0 DEAN ALTUS EVP/COO 170319 0 43750 0 0 0 6040 0 5911 0 226020 0 0 0 JAMES ANDERSON EVP/MORTGAGE LENDING 171688 0 86954 0 0 0 5222 0 13787 0 277651 0 0 0 JENNY CASSELMAN VP/MORTGAGE SERVICES 140000 0 55390 0 0 0 4645 0 0 0 200035 0 0 0 NICK SERRANO VP/MORTGAGE LENDING 147410 0 53655 0 0 0 5261 0 13787 0 220113 0 0 0 JESSE HARTFORD GOV'T LENDING RELATIONSHIP OFFICER 75000 0 108128 0 0 0 5960 0 0 0 189088 0 0 0 NATALIE DUFTY MORTGAGE CONSULTANT 205930 0 2500 0 0 0 3652 0 10891 0 222973 0 0 0 JEREMY GILPIN EVP/COMMERCIAL LENDING 153000 0 37182 0 0 0 5917 0 13787 0 209886 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 2017, 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 2017. 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 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 CEO. SUCH DECISIONS ARE DOCUMENTED BY THE BOARD IN AN EXECUTIVE SESSION. THIS PROCESS WAS LAST COMPLETED AS OF APRIL 1, 2016. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN EACH OF THE CREDIT UNION'S BRANCHES. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED THROUGH MERGER 6,465,557. GREATER NEVADA LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 880500878 MORTGAGE SERVICES NV 1469457 19547842 GREATER NEVADA CREDIT UNION GREATER NEVADA FINANCIAL GROUP LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 811825547 INSURANCE PRODUCTS NV 7177 119230 GREATER NEVADA CREDIT UNION GREATER COMMERCIAL LENDING LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 821499653 COMMERCIAL LENDING NV 2665603 32622304 GREATER NEVADA CREDIT UNION