2015-11-05T11:51:41-08:00 2014-12-31 Tinucci Jones & Company PC 32186 Castle Ct Suite 220 Evergreen CO 80439 990 2014-01-01 846031895 HORIZONS NORTH CREDIT UNION HORI 3034511146 11455 PEARL STREET NORTHGLENN CO 80233 Diane E Arthur SVP/CFO 2015-11-04 true Eric L Jones P00634170 3034809090 2014 2016-04-25 22:37:26Z BRADLEY HARVEY 11455 PEARL STREET NORTHGLENN CO 80233 3557807 false false X www.hncu.org X 1960 CO Better Banking Begins with Membership. 7 7 0 12 5132 -7019 0 3569123 3351278 168390 201397 7852 5132 3745365 3557807 2000 3500 0 1290161 1269560 0 0 2317067 2267466 3609228 3540526 136137 17281 69417291 71286292 63314525 65155967 6102766 6130325 Better Banking Begins with Membership. false false Consumer Lending - Establishing/maintaining the credit of our members and providing a lower cost borrowing alternative.Deposit Products - Assisting members with the management of their day to day and long term financial needs.Investments/Financial Planning - Assisting members with short and long term objectives.Community Involvement with main SEG - Adams 12 Five Star Schools - Involvement in many Adams 12 programs including mentoring, Junior Achievement, sponsorships, scholarships. false false false false false false false false false false true false false true true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false true 1105 0 true 0 false true true false false false false false false false false false false X 7 7 false false false false true true true true true false false true true true true true true true true false X Horizons North Credit Union 3034511146 11455 Pearl Street Northglenn CO 80233 DELANCE VIERS Chairperson 4.00 0.00 X 0 0 0 ROBERT WEBBER Vice Chair 2.00 0.00 X 0 0 0 DEBORAH CAPRA Treasurer 2.00 0.00 X 0 0 0 ROSEMARY KOHNE Secretary 2.00 0.00 X 0 0 0 JULIE ENGER Director 2.00 0.00 X 0 0 0 JAMES HAYS Director 2.00 0.00 X 0 0 0 MARK HINSON Director 2.00 0.00 X 0 0 0 BRADLEY HARVEY President/CEO 40.00 0.00 X 130737 0 65449 DIANE ARTHUR SVP/CFO 40.00 0.00 X 89536 0 11225 KRISTA BURNELL VP Org Dvlp 40.00 0.00 X 74733 0 2466 ALAN NELSON VP - Lending 40.00 0.00 X 75104 0 32559 370110 111699 1 false true false JHA PPS 1100 Olive Way Suite 320 Seattle WA 98101 Debt card processing 175521 DIGITAL INSIGHT 5601 N Lindero Canyon Road 100 Westlake Village CA 91362 Online Banking 199095 FISERV XP2 405 SCIENCE DR MOORPARK CA 93021 Processor Software 156372 IT GROUP DBA MEMBER DRIVEN TECHNOLOGIES 30230 ORCHARD LAKE ROAD FARMINGTON HILLS MI 48334 Core Processor 284579 4 0 Fees Member Service 522100 583600 583600 Interest Member Loans 522100 2242220 2242220 Plastics & Other Op Inc 522100 525458 525458 3351278 201397 201397 0 0 0 0 0 0 0 Non-Member ATM Fees 522100 4532 4532 Warranty Sales Income 524298 600 600 5132 3557807 3351278 5132 201397 0 3500 0 0 481809 0 592953 -371 116304 78865 0 9481 0 0 0 0 142536 96333 0 0 0 114159 0 0 63956 57 0 128772 0 Office Operations 944307 Loan Servicing Expense 458889 Dividends & Interest -Members 174251 Provision for Loan Losses 71492 63233 3540526 0 0 0 742004 865606 4717569 4531046 0 85793 58504 0 0 42676308 42372317 0 99269 209309 4724017 2884303 1737456 1839714 1294604 1033528 694180 1285168 0 0 17370108 19091100 69417291 71286292 277304 142617 63037221 65013350 63314525 65155967 X 6102766 6130325 6102766 6130325 69417291 71286292 17281 10278 X false false false 237292 237292 2194007 912803 1281204 144360 139678 4682 1860222 1549579 310643 288136 282243 5893 1839714 457 Life Insurance - CSV 1549430 Accrued Interest Receivable 174373 NCUSIF Deposit 660138 Other Real Estate Owned 207489 19091100 Member Shares, Deposits and Certificates 65013350 65013350 X X true false X X false true false BRADLEY HARVEY President/CEO 118665 2970 9102 45312 20137 196186 Part I, Line 1a: Relevant information in regards to selections on 1a. The reported officers receive a per diem cash allowance for business trips and teh CEO also receives a gym membership with annual dues of $413. Substantiation is not required for the cash allowance since it is a per diem amount. Substantiation is not required for the gym memberships as it has been in place for more then 5 years. Client Note 1 Client Note 1 - UBIT REPORTING:In May 2009, a federal court jury in Wisconsin ruled in the Community First Credit Union case that credit life and disability insurance and GAP insurance coverage made available to member-borrowers by Community First Credit Union of Appleton, Wisconsin were "substantially related" to Community First's tax exempt purpose. The court granted a tax refund to Community First based on the jury's verdict, confirming that credit insurance and GAP were not subject to the unrelated business income tax (UBIT). The IRS did not appeal the case.In November 2009, in the Bellco Credit Union case, the U.S. District Court in Colorado ruled that commissions received by Bellco Credit Union of Greenwood Village, Colorado from the sale of financial products to Bellco members, were not subject to UBIT. The court ruled that the sale of those financial products to Bellco members was "substantially related" to Bellco's tax-exempt purpose of promoting thrift among its members, and the resulting income was exempt from UBIT.In April 2010, the court in Colorado issued its second and final decision in the Bellco Credit Union case, holding that (i) credit life and disability insurance was "substantially related" to Bellco's tax-exempt purpose of promoting thrift among its members, and (ii) Bellco income from AD&D insurance sold to members by an independent marketing company, where Bellco was essentially limited to allowing use of its name and brand, providing member contact information, and reviewing and approving (but not creating) the marketing materials, represented passive "royalty" income exempt from UBIT. On October 19, 2010 the U.S. Department of Justice abandoned its plan to appeal the federal judge's favorable credit union rulings in the Bellco case.The decisions in these court cases are now definitive statements of the law, are not subject to further review, and provide "substantial authority" that income from the sale of credit life and disability insurance, GAP coverage, financial products sold to credit union members, and AD&D insurance sold via direct mail is exempt from UBIT. As such, for 2014, Horizons North Credit Union is not reporting these income sources as subject to UBIT, but is filing a 2014 Form 990-T to report income from warranty sales and income from non-member ATM fees. Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Employees, students and family members of Adams 12 Five Star Schools, employees of the City of Northglenn, employees of American Furniture Warehouse, members of Consumers United and a few other smaller businesses in the community. A one time membership fee of $5 must be paid and the member must maintain at least $5 in their share account at all times. Proper documentation (identification) and no amount owing on a prior negative account record. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body The Board of Directors is elected by the membership. Calls for nominations to the board are made on an annual basis through the newsletter, mailings, and on the website. Members in good standing may be nominated for the board. Ballots are sent out through the spring newsletter and the election results are announced at the Annual Membership Meeting in May. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders 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.Name changes - Requires a majority vote of the membership. Form 990, Part VI, Line 11b: Form 990 Review Process The draft of the Form 990 to be filed with the IRS will be emailed by the SVP/CFO to all board members and management team. The SVP/CFO will thoroughly review the form with the preparer (independent CPA Firm) and be available to answer any questions from management or the board. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Every Director and Supervisory Committee member must sign a conflict on interest statement annually and disclose any potential conflicts (family accounts, etc.) Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The Credit Union has an annual review and approval by independent persons (the employee's supervisor or the Board for the CEO) and a completed, documented review form is filed in the employee's personnel file immediately. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Governing documents and conflict of interest policy available to the public upon request. Financial statements are posted monthly in the entryway of the Credit Union's only location. FORM 990, PART 1,LINE 5 &PART V, LINE 2a NUMBER OF EMPLOYEES IS REPORTED AS ZERO AS THE CREDIT UNION DOES NOT FILE FORM W-3. ADP TOTAL SOURCE, AS COMMON PAYMASTER, FILES FORM W-3 UNDER THEIR OWN FEIN TO REPORT THE COMPENSATION OF ALL CREDIT UNION EMPLOYEES.