2016-10-12T18:05:59-05:00 2015-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2015-01-01 860108770 ONEAZ CREDIT UNION ONEA 6024674088 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 MIKE BODEN SENIOR VICE PRESIDENT, CONTROLLER 6024674088 2016-09-26 1 JANIS ISAACSON P00089104 6022662248 2015 2017-02-10 21:41:12Z MIKE BODEN 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 93935282 0 X WWW.AZSTCU.ORG X 1951 AZ TO PROVIDE OUR MEMBERS WITH RESPONSIVE SERVICE, CONVENIENT ACCESS, CONSUMER EDUCATION AND VALUE-ADDED FINANCIAL RELATED PRODUCTS AND SERVICES. 9 9 603 14 81447 -95715 0 0 73978282 78401847 7387110 7849677 0 0 81365392 86251524 0 0 0 0 29180403 34202752 0 0 0 36882416 33589704 66062819 67792456 15302573 18459068 1656659634 1788429012 1508893014 1621632883 147766620 166796129 CREDIT UNION PROVIDING FINANCIAL SERVICES TO MEMBERS IN ARIZONA. 0 0 THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, CONSUMER LOANS, SHARE CERTIFICATES AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 69280 0 1 603 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 AZ X MIKE BODEN 6024674094 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 BILL VANDENBOSCH ADVISORY DIRECTOR 1.00 X 0 0 0 CONNIE OHANESIAN DIRECTOR 1.00 X 0 0 0 FRANK FELIX DIRECTOR 1.00 X 0 0 0 JON BORGE TREASURER 1.00 X 0 0 0 JOSEPH SMITH DIRECTOR 1.00 X 0 0 0 MARQUETTA WHITE DIRECTOR 1.00 X 0 0 0 MARTHA ROZEN SECRETARY 1.00 X 0 0 0 QUENTIN BOGART DIRECTOR EMERITUS 1.00 X 0 0 0 RAY O'CONNOR DIRECTOR 1.00 X 0 0 0 SAM WHEELER CHAIRMAN 1.00 X 0 0 0 SHANE SIREN VICE CHAIRMAN 1.00 X 0 0 0 SASSAN AZHADI SVP CHIEF INFORMATION OFFICER 40.00 X 221768 0 48332 DAVE DOSS CEO PRESIDENT 40.00 X 818155 0 269738 DAVID DOWNING EVP MEMBER SOLUTIONS 40.00 X 273802 0 83856 MICHAEL EMANUELLI EVP CHIEF ADMINISTRATION O 40.00 X 267900 0 88764 ROBERT GIBBONI JR SVP RISK MANAGEMENT 40.00 X 170212 0 42560 BRIAN JOHNSON SVP BUSINESS INTELLIGENCE/CRM 40.00 X 187178 0 45583 BRYAN NIELSEN SVP SUPPORT SERVICES 40.00 X 223631 0 50604 DEBORAH PEARSON SVP STRATEGY & BRAND 40.00 X 213835 0 60323 KIM REEDY EVP CHIEF FINANCIAL OFFICER 40.00 X 385288 0 118204 DAVID G SWEIDERK EVP CHIEF OPERATING OFFICER 40.00 X 461975 0 136640 JOSEPH VANDEN BOSCH SVP MEMBER ENGAGEMENT 40.00 X 222762 0 26539 MICHAEL BODEN VP CONTROLLER 40.00 X 163718 0 25965 RANDON CUPP NORTHERN REGIONAL PRESIDENT 40.00 X 200797 0 26952 DEBRA MESHEY VP ASSOCIATE ENGAGEMENT 40.00 X 176824 0 12057 TAMI PILGRIM MORTGAGE ORIGINATION SUPERVISOR 40.00 X 159748 0 21231 MICHAEL SAMMONS FINANCIAL ADVISOR 40.00 X 176325 0 17055 4323918 0 1074403 52 0 1 0 PSCU 560 CARILLON PKWY ST PETERSBURG FL 33716 CREDIT & DEBIT CARD PROCESSING 2576689 DIGITAL INSIGHT CORPORATION PO BOX 740641 LOS ANGELES CA 90074 MOBILE BANKING SUPPORT 1513178 ROUTE 66 WARRANTY PO BOX 1075 MOUNTAIN HOME AR 72654 VEHICLE SERVICE AGREEMENTS 957400 VISA USA INC PO BOX 8999 SAN FRANCISCO CA 94128 CREDIT & DEBIT CARD PROCESSING 777524 APPRAISAL TEK 7205 E SOUTHERN AVE MESA AZ 85209 PROPERTY APPRAISALS 681034 44 PROGRAM SERVICE REVENUE 522100 78320400 78320400 UNRELATED BUSINESS INCOME 900099 81447 81447 78401847 7587441 7587441 6260236 1685758 5641397 2042361 618839 -356603 262236 262121 115 86251524 86169962 81447 115 5398321 21252900 2457622 3260191 1833718 387234 113500 300 766969 1962218 1279167 3334620 941154 1063403 4676160 3638579 34162 OTHER OPERATING EXPENSE 15028101 PROVISION FOR LOAN LOSS 364137 67792456 162169129 131342302 1007911147 1077983227 76955701 27180153 42164185 49775548 398840609 482174898 45574564 47153037 1656659634 1788429012 11673958 13817338 110000000 115000000 1387219056 1492815545 1508893014 1621632883 X 0 0 0 0 147766620 166796129 147766620 166796129 1656659634 1788429012 X 18459068 570441 X X 0 1 X 1 0 19182307 19182307 35491419 10431700 25059719 3242372 2107837 1134535 19039603 14640616 4398987 49775548 INVESTMENT SECURITIES - AVAILABLE F 453796270 F INVESTMENT SECURITIES - OTHER INVES 20880428 F FEDERAL HOME LOAN BANK STOCK 7498200 F 482174898 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1490417763 PENSION PLAN VALUATION 2397782 1492815545 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14) FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE RESULTING IN NO TAXES PAID FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2015 AND 2014. THE CREDIT UNION'S 2011 THROUGH 2014 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X 1 1 X X X X X 1 1 0 SASSAN AZHADI SVP CHIEF INFORMATION OFFICER 204656 0 17112 0 0 0 35891 0 12441 0 270100 0 0 0 DAVE DOSS CEO PRESIDENT 558429 0 259726 0 0 0 249970 0 19768 0 1087893 0 0 0 DAVID DOWNING EVP MEMBER SOLUTIONS 240580 0 33222 0 0 0 72589 0 11267 0 357658 0 0 0 MICHAEL EMANUELLI EVP CHIEF ADMINISTRATION O 227496 0 40404 0 0 0 73091 0 15673 0 356664 0 0 0 ROBERT GIBBONI JR SVP RISK MANAGEMENT 149998 0 20214 0 0 0 25033 0 17527 0 212772 0 0 0 BRIAN JOHNSON SVP BUSINESS INTELLIGENCE/CRM 167990 0 16765 0 2423 0 28572 0 17011 0 232761 0 0 0 BRYAN NIELSEN SVP SUPPORT SERVICES 194474 0 29157 0 0 0 37379 0 13225 0 274235 0 0 0 DEBORAH PEARSON SVP STRATEGY & BRAND 193835 0 0 0 20000 0 49732 0 10591 0 274158 0 0 0 KIM REEDY EVP CHIEF FINANCIAL OFFICER 306180 0 74781 0 4327 0 99515 0 18689 0 503492 0 0 0 DAVID G SWEIDERK EVP CHIEF OPERATING OFFICER 323891 0 138084 0 0 0 120210 0 16430 0 598615 0 0 0 JOSEPH VANDEN BOSCH SVP MEMBER ENGAGEMENT 60878 0 25000 0 136884 0 11256 0 15283 0 249301 0 5100 0 MICHAEL BODEN VP CONTROLLER 153718 0 10000 0 0 0 8500 0 17465 0 189683 0 0 0 RANDON CUPP NORTHERN REGIONAL PRESIDENT 148691 0 50000 0 2106 0 10109 0 16843 0 227749 0 0 0 DEBRA MESHEY VP ASSOCIATE ENGAGEMENT 155315 0 21509 0 0 0 5738 0 6319 0 188881 0 0 0 TAMI PILGRIM MORTGAGE ORIGINATION SUPERVISOR 68478 0 91270 0 0 0 8298 0 12933 0 180979 0 0 0 MICHAEL SAMMONS FINANCIAL ADVISOR -510 0 176835 0 0 0 7597 0 9458 0 193380 0 0 0 PART I, LINES 4A-B JOSEPH VANDEN BOSCH SEVERANCE PAYMENT - $112,788 DAVE DOSS DEFERRED CONTRIBUTION 457B - $18,000 BRIAN JOHNSON DEFERRED CONTRIBUTION 457B - $7,045 ROBERT GIBBONI JR. DEFERRED CONTRIBUTION 457B - $10,841 MICHAEL BODEN DEFERRED CONTRIBUTION 457B - $3,385 JOSEPH VANDEN BOSCH 457(F) DISTRIBUTION - $18,360 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE PROCESS OF ELECTING THE BOARD OF DIRECTORS: NOTICE OF ANNUAL ELECTION IS COMMUNICATED TO MEMBERSHIP REQUESTING INTERESTED INDIVIDUALS SUBMIT AN APPLICATION FOR ANY OPEN DIRECTOR POSITIONS. THE BOARD APPOINTS A NOMINATING COMMITTEE WHO SCREENS AND INTERVIEWS CANDIDATES TO PLACE ON THE BALLOT. THE BALLOT IS VOTED ON BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN ORGANIZATIONAL ITEMS, SUCH AS CHARTER, CHANGE OR MERGER, ARE SUBJECT TO BOARD APPROVAL. ALSO, MEMBERSHIP CAN REQUEST A MEMBER EXPULSION BY A MAJORITY VOTE AT AN ANNUAL OR SPECIAL MEETING. A VOTE WAS TAKEN IN DECEMBER 2015 BY THE MEMBERSHIP TO CHANGE THE NAME FROM ARIZONA STATE CREDIT UNION TO ONEAZ CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZING QUESTIONNAIRE IS COMPLETED BY THE ACCOUNTING MANAGER AND VP/CONTROLLER, WHICH IS THEN FORWARDED TO CLIFTONLARSONALLEN FOR PREPARATION OF THE FORM 990; ONCE DRAFTED, THE FORM 990 IS REVIEWED BY THE VP/CONTROLLER AND CHIEF FINANCIAL OFFICER. FORM 990, PART VI, SECTION B, LINE 12C CREDIT UNION PROCEDURES REQUIRE ANNUAL, WRITTEN ACKNOWLEDGEMENT BY EACH ASSOCIATE AND VOLUNTEER DOCUMENTING THEIR UNDERSTANDING AND COMPLIANCE WITH THE CODE OF CONDUCT AND BUSINESS ETHICS POLICY. EACH ASSOCIATE MUST ALSO COMPLETE ONLINE TRAINING AND PASS AN ONLINE TEST EACH YEAR TO DEMONSTRATE THEIR UNDERSTANDING OF THESE POLICIES. FORM 990, PART VI, SECTION B, LINE 15 WE UTILIZE CARDWELL CONSULTING (CREDIT UNION COMPENSATION EXPERTS) TO DETERMINE SALARY RANGES AND MARKET PRICING FOR THE PHOENIX AREA FOR ALL EMPLOYEES, INCLUDING THE CEO AND EXECUTIVE OFFICERS. SALARY RANGES ARE REVIEWED EVERY YEAR TO ENSURE MARKET EQUITY IS IN LINE WITH OUR "TOTAL COMPENSATION" PHILOSOPHY. WE ALSO COMPLETE COMPENSATION SURVEYS WITH OTHER COMPENSATION ANALYSTS TO ENSURE A BROADER SAMPLING. FORM 990, PART VI, SECTION C, LINE 19 REGULATORY FINANCIAL REPORTS PROVIDED BY NCUA.GOV. WE ALSO POST A COPY OF OUR MONTHLY STATEMENT OF FINANCIAL CONDITION IN ALL OF OUR BRANCHES. FORM 990, PART XI, LINE 9: CHANGE IN UNREALIZED LOSS ON SECURITIES AVAILABLE-FOR-SALE -2,736,931. CHANGE IN UNREALIZED GAIN ON DEFINED BENEFIT PENSION PLAN ASSETS 1,561,250. AMORTIZATION OF UNREALIZED LOSS ON DEFINED BENEFIT PENSION PLAN ASSETS 1,746,123. ROUNDING -1. FORM 990, PART XII, LINE 2C: THE SUPERVISORY COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS. THERE HAS BEEN NO CHANGE IN EITHER THE OVERSIGHT PROCESS OR THE SELECTION PROCESS DURING THE TAX YEAR. FORM 990, PART VI, SECTION A, LINE 9: JOE VANDENBOSCH LEFT THE ORGANIZATION IN 2015, CURRENT ADDRESS IS NOT AVAILABLE. ARIZONA FINANCIAL NETWORK LLC 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 481267437 INSURANCE BROKERAGE AZ 0 2500 ARIZONA STATE CREDIT UNION