2017-12-06T16:36:36-06:00 2016-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2016-01-01 880059939 BOULDER DAM CREDIT UNION BOUL 7022937772 PO BOX 61530 530 AVENUE G BOULDER CITY NV 890061530 ERIC ESTES CEO/PRESIDENT 7022937772 2017-12-06 1 GERALD B KISSELL P00092658 6123324300 108.171.131.188 2017-12-06 16:02:12 CS P 5AB5DFEC54AF030231DDAA57F2AFD57D98013E0B 5AB5DFEC54AF030231DDAA57F2AFD57D98013E0B 2016 2017-02-10 21:41:12Z ERIC ESTES PO BOX 61530 530 AVENUE G BOULDER CITY NV 890061530 20797980 0 1 X WWW.BOULDERDAMCU.ORG X 1940 NV TO PROVIDE EXCEPTIONAL SERVICE AND EXTRAORDINARY BENEFITS TO THE MEMBERS OF BOULDER DAM CU. 7 7 48 9 33918 -150416 0 0 14159480 14368854 5187787 6095597 23100 16366 19370367 20480817 0 0 6481242 5777855 4579022 5055179 0 0 0 3831005 4299849 14891269 15132883 4479098 5347934 543819976 584085516 487885266 523912407 55934710 60173109 TO PROVIDE EXCEPTIONAL SERVICE AND EXTRAORDINARY BENEFITS TO THE MEMBERS OF BOULDER DAM CREDIT UNION. 0 0 ONE OF THE CREDIT UNION'S TWO PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES REAL ESTATE, AUTO, BOAT, RV, AND SIGNATURE AND VISA LOANS TO ELIGIBLE MEMBERS. AT 12/31/2016, THE CREDIT UNION HAD 4,167 LOANS WITH A BALANCE OF APPROXIMATELY $193 MILLION AND 3,075 VISA CARDS WITH A BALANCE OF APPROXIMATELY $2.85 MILLION. THE SECOND MAIN SERVICE THAT THE CREDIT UNION OFFERS IS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. ELIGIBILITY REQUIRES THAT A PERSON LIVE OR WORK IN BOULDER CITY, NEVADA. DUE TO THE EXCEPTIONAL SERVICE LEVEL PROVIDED BY THE CREDIT UNION, APPROXIMATELY 70% OF ELIGIBLE MEMBERS ARE MEMBER OF THE CREDIT UNION. ONCE AGAIN, THE CREDIT UNION DOES NOT CHARGE FEES FOR DEPOSIT ACCOUNTS; OTHER THAN PUNITIVE FEES FOR OVERDRAFTS AND INSUFFICIENT FUND ITEMS. AT 12/31/2016 THE CREDIT UNION HAD 20,734 MEMBERS WITH 37,329 ACCOUNTS TOTALING $522,426,406 IN SHARE DEPOSITS. AN ANCILLARY PRODUCT OFFERED BY THE CREDIT UNION IS THE ELECTRONIC DELIVERY OF SERVICES. THE CREDIT UNION OFFERS DEBIT CARDS, VISA CREDIT CARDS, ATM ACCESS, PHONE ACCOUNT ACCESS AND INTERNET ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. ADDITIONALLY, THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK, WHICH ENABLES MEMBERS TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. APPROXIMATELY 50% OF OUR MEMBERS UTILIZE SOME TYPE OF ELECTRONIC DELIVERY SERVICE. 0 0 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 8908 0 1 48 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X ERIC ESTES 7022937777 PO BOX 61530 530 AVENUE G BOULDER CITY NV 890061530 DALE IMLAY CHAIR 2.00 X X 0 0 0 DOUG SCHEPPMANN VICE CHAIR 2.00 X X 0 0 0 CHARMAINE FERRARI SECRETARY 2.00 X X 0 0 0 ROBERT MERRELL TREASURER 2.00 X X 0 0 0 HELENA BROADBENT DIRECTOR 2.00 X 0 0 0 MILO HURST DIRECTOR 2.00 X 0 0 0 FRANK DISANZA DIRECTOR 2.00 X 0 0 0 ERIC ESTES CEO/PRESIDENT 40.00 X 365767 0 78405 IE-CHEN CHENG CHIEF FINANCIAL OFFICER 40.00 X 196044 0 48258 PAT KLINGER OPERATIONS ASSISTANT 40.00 X 246732 0 61217 MARY BETH CLIFT TELLER SUPERVISOR 40.00 X 139046 0 32125 LINDA EUGSTER CARDS SERVICES SUPERVISOR 40.00 X 112482 0 38160 BARBARA BENNETT LOAN SUPERVISOR 40.00 X 107632 0 37196 1167703 0 295361 6 0 1 0 FISERV 2601 NETWORK BLVD SUITE 600 FRISCO TX 75034 DATA PROCESSING 1430594 CUNA MUTUAL 5910 MINERAL POINT ROAD MADISON WI 53705 INSURANCE 193672 2 LOAN INTEREST 522100 13176121 13176121 SERVICE CHARGES & OTHER FEES 522100 788576 754658 33918 OTHER NONINTEREST INCOME 522100 370863 370863 NON-OPERATING INCOME 522100 33294 33294 14368854 6150693 6150693 23625 7259 16366 16366 16366 254808 309904 -55096 -55096 -55096 20480817 14334936 33918 6111963 5777855 1005670 2912918 610025 257147 269419 11318 1092997 161502 529974 163230 225214 24003 27 65545 193002 ATM/DEBIT CARD/NSF CHEC 866897 LOAN SERVICING EXPENSES 612804 OREO & MH REPO EXPENSE 154932 ASSOCIATION DUES 71037 127367 15132883 51608634 34939253 2100000 2228221 192187851 191071602 3805347 3016040 789307 789307 295598405 354360683 1535779 696450 543819976 584085516 1306746 1496889 486578520 522415518 487885266 523912407 X 0 0 0 0 55934710 60173109 55934710 60173109 543819976 584085516 5347934 -1109535 0 X 0 1 X 1 0 7500 7500 7500 1 NEVADA CREDIT UNION LEAGUE PAC 6475 W SAHARA AVENUE LAS VEGAS NV 891463036 880270264 7500 PART I-A, LINE 1: BOULDER DAM CREDIT UNION MAKES AN ANNUAL CONTRIBUTION TO THE NEVADA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE (PAC). THIS PAC MAKES CONTRIBUTIONS TO STATE LEVEL CANDIDATES WHO ARE FRIENDS OF CREDIT UNIONS. 789308 789308 3016039 3016040 -1 789307 ACCRUED INTEREST/INCOME 1744413 C SHARE INSURANCE DEPOSIT 6775557 C AVAILABLE FOR SALE 124697316 F US GOV'T OBLIGATIONS & FED AGENCY SECURITIES 23882169 C FED AGENCY SEC/RESIDENTIAL MTG-BACKED SEC/SBA POOLS/COLLATERALIZED MTG 195759228 C CERT. AT BANKS & OTHER FINANCIAL INSTITUTIONS 1482000 C CU COOPERATIVE SYSTEMS STOCK 20000 C 354360683 MEMBER SHARES AND DEPOSITS 522415518 522415518 X 16232815 -154932 -154932 16387747 4093070 4093070 20480817 10884881 0 10884881 4248002 4248002 15132883 PART X, LINE 2: FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015 MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: OREO & MH REPO EXPENSE RECLASSIFIED TO FUNCTIONAL EXPENSE -154,932. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST REFUND TO MEMBERS RECLASSIFIED TO FUNCTIONAL EXPENSE 4,100,329. RENTAL EXPENSES RECLASSED AS REVENUE ON FORM 990 -7,259. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST REFUND TO MEMBERS RECLASSIFIED TO FUNCTIONAL EXPENSE 4,100,329. RENTAL EXPENSES RECLASSED AS REVENUE ON FORM 990 -7,259. OREO & MH REPO EXPENSE RECLASSIFIED TO FUNCTIONAL EXPENSE 154,932. X 1 1 X X X 0 1 0 ERIC ESTES CEO/PRESIDENT 336177 0 28900 0 690 0 53000 0 28939 0 447706 0 0 0 IE-CHEN CHENG CHIEF FINANCIAL OFFICER 194729 0 1015 0 300 0 39599 0 11619 0 247262 0 0 0 PAT KLINGER OPERATIONS ASSISTANT 240408 0 1173 0 5151 0 48184 0 15786 0 310702 0 0 0 MARY BETH CLIFT TELLER SUPERVISOR 134838 0 1160 0 3048 0 27156 0 6539 0 172741 0 0 0 LINDA EUGSTER CARDS SERVICES SUPERVISOR 110148 0 1162 0 1172 0 22759 0 17744 0 152985 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - TRAVEL EXPENSES FOR COMPANIONS ARE ALLOWED ONLY WITH APPROVAL OF MANAGEMENT AND DOES NOT ALLOW FOR EXPENSES ABOVE AND BEYOND WHAT IS USUAL AND CUSTOMARY FOR THE LOCATION IN QUESTION. ADDITIONALLY, COMPANION TRAVEL IS NOT ALLOWED MORE THAN ONE TIME DURING ANY CALENDAR YEAR AND FOR A PERIOD NOT TO EXCEED ONE WEEK. FORM 1099 IS ISSUED IF THE $600 REPORTING THRESHOLD IS MET. IN 2016 NO SPOUSAL TRAVEL EXCEEDED THE $600 THRESHOLD. PART I, LINE 4B ERIC ESTES, CEO/PRESIDENT, PARTICIPATED IN A SPLIT-DOLLAR LIFE INSURANCE PLAN. THERE WERE NO DISBURSEMENTS IN 2016. ERIC ESTES OFFICER OF CREDIT UNION SPLIT DOLLAR LOAN X 2100000 2107610 0 1 1 BARBARA E BENNETT TOP 5 HIGHLY COMPENSATED OF CREDIT UNION LINE OF CREDIT X 500 1957 0 1 1 LINDA D EUGSTER TOP 5 HIGHLY COMPENSATED OF CREDIT UNION AUTO LOAN X 30371 21590 0 1 1 LINDA D EUGSTER TOP 5 HIGHLY COMPENSATED OF CREDIT UNION LINE OF CREDIT X 40 12447 0 1 1 MARY BETH CLIFT TOP 5 HIGHLY COMPENSATED OF CREDIT UNION AUTO LOAN X 24279 14400 0 1 1 PATRICIA S KLINGER KEY EMPLOYEE OF CREDIT UNION AUTO LOAN X 23191 6295 0 1 1 PATRICIA S KLINGER KEY EMPLOYEE OF CREDIT UNION AUTO LOAN X 18883 15264 0 1 1 MARY BETH CLIFT TOP 5 HIGHLY COMPENSATED OF CREDIT UNION LINE OF CREDIT X 5000 2500 0 1 1 PATRICIA S KLINGER KEY EMPLOYEE OF CREDIT UNION LINE OF CREDIT X 923 4770 0 1 1 PATRICIA S KLINGER KEY EMPLOYEE OF CREDIT UNION MORTGAGE X 32000 41388 0 1 1 2228221 FORM 990, PART I, LINE 6, VOLUNTEERS: THE 9 VOLUNTEERS REPORTED IN PART I, LINE 6 CONSISTS OF 7 BOARD MEMBERS AND 2 SUPERVISORY COMMITTEE MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 COMPLETED FORM 990 IS REVIEWED BY THE CEO/PRESIDENT, CFO AND OPERATIONS ASSISTANT. A COPY OF THE FINAL FORM 990 IS DISSEMINATED TO THE BOARD OF DIRECTORS AFTER FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS ESTABLISHED AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. SENIOR MANAGEMENT SALARIES ARE SUBJECT TO GENERAL INDEX INCREASES APPLIED TO ALL STAFF AND RECOMMENDED BY THE CEO TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 QUARTERLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE CREDIT UNION'S OFFICE. GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION" THE 2016 FORM 990 DOES NOT ALLOW PDF ATTACHMENTS TO BE INCLUDED WITH THE ELECTRONICALLY FILED FORM 990, WITH THE EXCEPTION OF SPECIFIC ATTACHMENTS REQUIRED BY THE IRS. BOULDER DAM CREDIT UNION HAS AN E-FILE REQUIREMENT AND CANNOT PAPER FILE UNLESS REQUIRED TO DO SO BY THE IRS. IF A PAPER COPY OF THE RETURN IS FILED WHEN IT IS NOT REQUIRED THE IRS MAY CONSIDER THE RETURN AS NOT TIMELY FILED; THEREFORE THE "SPLIT DOLLAR NONRECOURSE LOAN REPRESENTATION" IS AVAILABLE UPON REQUEST TO THE IRS.