2014-10-28T14:50:32-05:00 2013-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2013-01-01 866050959 TRUWEST CREDIT UNION TRUW 6026292012 1667 N PRIEST DRIVE TEMPE AZ 85281 ALAN ALTHOUSE CHIEF FINANCIAL OFFICER 6026292012 2014-10-20 1 JANIS ISAACSON P00089104 6022662248 2013 2015-11-30 17:44:51Z ALAN ALTHOUSE 1667 N PRIEST DRIVE TEMPE AZ 85281 44478077 0 X WWW.TRUWEST.ORG X 1952 AZ A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 9 9 256 14 334649 -318156 0 0 34780406 40049631 5530645 4428446 0 0 40311051 44478077 0 0 0 0 15155697 17180713 0 0 0 17460934 19371477 32616631 36552190 7694420 7925887 791363473 826260838 703658454 734790895 87705019 91469943 A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 0 0 THE CREDIT UNION IS ENGAGED IN PROVIDING LOW COST FINANCIAL SERVICES TO MEMBER/OWNERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13864 0 1 256 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AZ X ALAN ALTHOUSE 6026292012 1667 N PRIEST DRIVE TEMPE AZ 85281 THOMAS CUMMISKEY CHAIRMAN 1.00 X 0 0 0 JEFF HOMER BOARD MEMBER 1.00 X 0 0 0 JEFFREY MYERS SECRETARY 1.00 X 0 0 0 DAVID PRECHTEL VICE CHAIRMAN 1.00 X 0 0 0 TIM NIESZ BOARD MEMBER 1.00 X 0 0 0 MIKE MOULTON BOARD MEMBER 1.00 X 0 0 0 SCOTT JOHS BOARD MEMBER 1.00 X 0 0 0 RICK O'CONNOR TREASURER 1.00 X 0 0 0 MIKE VASKO BOARD MEMBER 1.00 X 0 0 0 DAN DESMOND PRESIDENT CHIEF EXECUTIVE 40.00 X 356042 0 137564 ALAN ALTHOUSE EVP CHIEF FINANCIAL OFFICE 40.00 X 225277 0 85273 GARY BERNARD SVP CHIEF OPERATIONS OFFIC 40.00 X 205221 0 79661 FARID FARBOD SVP CHIEF LENDING OFFICER 40.00 X 201338 0 78250 CHRIS KEARNEY SVP CHIEF INFORMATION OFFI 40.00 X 141894 0 26283 JEFF PEABODY SVP CHIEF MARKETING OFFICE 40.00 X 159324 0 13767 KAREN BEJARANO VICE PRESIDENT 40.00 X 130296 0 28703 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 40.00 X 123790 0 12039 SCOTT WILLIAMS VP COMMERCIAL LENDING 40.00 X 148011 0 11005 DARREN KENNON FINANCIAL ADVISOR 40.00 X 153495 0 17214 CHRIS HEALY VP CONSUMER LENDING 40.00 X 120397 0 25710 1965085 0 515469 19 0 1 0 PSCU 560 CARILLO PARKWAY ST PETERSBURG FL 22716 CREDIT AND DEBIT CARD SERVICES 2744109 CIGNA HEALTH CARE 5621 COLLECTION CENTER DR CHICAGO IL 60693 HEALTH CARE 2068413 NEXTNET PARTNERS LLC 2227 W BASELINE RD 103 TEMPE AZ 85283 NETWORK CONSULTANTS 584296 BUSINESS DATA INC 321 N OAK ST INGLEWOOD CA 90302 STATEMENTS 438576 KINETICS SYSTEMS INC 15660 N DALLAS PARKWAY SUITE 1200 DALLAS TX 75248 HEADQUARTERS RENT 415125 28 PROGRAM SERVICE REVENUE 522100 39714982 39714982 UNRELATED BUSINESS INCOME 524298 334649 334649 40049631 4428446 4428446 44478077 44143428 334649 0 X 2480558 11444959 593586 1670171 991439 169699 112701 5017437 1221579 2761446 49905 176143 1361336 OPERATIONS 7437588 OTHER EXPENSES 642809 NCUSIF PREMIUM ASSESSME 546224 PROVISION FOR LOAN LOSS -125390 36552190 15634881 20354748 499673037 634301190 36215477 18829594 17346017 17385883 227799475 120655560 30910063 33563457 791363473 826260838 7898592 7837196 695759862 726953699 703658454 734790895 X 0 0 0 0 87705019 91469943 87705019 91469943 791363473 826260838 X 7925887 -4160963 X X 0 1 X 1 0 10200730 10200730 7876784 3922248 3954536 18137963 14907346 3230617 17385883 FEDERAL HOME LOAN BANK STOCK 7050000 C INVESTMENT SECURITIES - AVAILABLE F 107421186 F INVESTMENT SECURITIES - OTHER INVES 6184374 C 120655560 X 44478080 3 3 44478077 0 44478077 36552187 0 36552187 3 3 36552190 PART X, LINE 2: THE CREDIT UNION PAYS MOST TAXES, EXCEPT FEDERAL AND STATE INCOME TAXES. 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 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 NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. AS SUCH, THE CREDIT UNION HAS FILED TAX RETURNS FOR REPORTING UBIT-RELATED INCOME FOR TAX YEARS 2007 FORWARD. THE IRS AND STATE, WHERE APPPLICABLE, HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR YEARS IN WHICH NO TAX RETURN WAS FILED. MANAGEMENT HAS DETERMINED THAT THE FINANCIAL IMPACT, IF ANY, OF NOT FILING UBIT-RELATED INCOME TAX RETURNS IN PREVIOUS YEARS WOULD NOT BE MATERIAL TO THE CREDIT UNION'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 3. PART XII, LINE 4B - OTHER ADJUSTMENTS: ROUNDING 3. X X X X X 0 0 0 DAN DESMOND PRESIDENT CHIEF EXECUTIVE 283438 0 67200 0 5404 0 122074 0 15490 0 493606 0 0 0 ALAN ALTHOUSE EVP CHIEF FINANCIAL OFFICE 181597 0 43680 0 0 0 67373 0 17900 0 310550 0 0 0 GARY BERNARD SVP CHIEF OPERATIONS OFFIC 168261 0 36960 0 0 0 61821 0 17840 0 284882 0 0 0 FARID FARBOD SVP CHIEF LENDING OFFICER 165946 0 35392 0 0 0 66250 0 12000 0 279588 0 0 0 CHRIS KEARNEY SVP CHIEF INFORMATION OFFI 141894 0 0 0 0 0 8494 0 17789 0 168177 0 0 0 JEFF PEABODY SVP CHIEF MARKETING OFFICE 146467 0 12857 0 0 0 7609 0 6158 0 173091 0 0 0 KAREN BEJARANO VICE PRESIDENT 115940 0 14356 0 0 0 11045 0 17658 0 158999 0 0 0 SCOTT WILLIAMS VP COMMERCIAL LENDING 133145 0 14866 0 0 0 9413 0 1592 0 159016 0 0 0 DARREN KENNON FINANCIAL ADVISOR 150525 0 2970 0 0 0 0 0 17214 0 170709 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 AS A FINANCIAL INSTITUTION CHARTERED ORIGINALLY UNDER THE FEDERAL CREDIT UNION ACT AND EVENTUALLY UNDER STATE LAW, THE ORGANIZATIONS DOES HAVE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP OF THE CREDIT UNION ELECTS THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS SUCH AS MERGERS REQUIRE APPROVAL OF THE MEMBERSHIP AND REGULATORS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN EXTERNAL CPA FIRM AND THEN REVIEWED BY THE CFO. IT IS THEN REVIEWED WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C REGULARLY MONITOR AND REVIEW ACTIVITY OF THE ENTITY FOR POTENTIAL CONFLICTS. FOR EXAMPLE, ALL LOANS TO MEMBERS OF THE BOARD OF DIRECTORS ARE UNDERWRITTEN BY STAFF USING STANDARD UNDERWRITING GUIDELINES FOR ALL MEMBERS, WITH THE SAME RATES AND TERMS AVAILABLE TO ALL MEMBERS, AND THEN REPORTED TO AND RATIFIED BY THE FULL BOARD OF DIRECTORS. BOARD MEMBERS ALSO COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 TRUWEST PERIODICALLY EVALUATES/RE-EVALUATE POSITIONS WITH HRN MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE TO ANYONE WHO REQUESTS THEM BY VISITING A BRANCH OFFICE. FORM 990, PART IX, LINE 11G LOAN APPLICATION FEES 44,444. CREDIT REPORTS 438,272. MORTGAGE LOAN EXPENSES TEXAS 13,011. LOAN EXPENSES BLUE BOOK 2,397. LOAN EXPENSES OTHER 110,998. LOAN EXPENSES 1ST MORTGAGE PROCESS 107,382. LOAN EXPENSE 399. AUTO DEALERS BUSINESS DEVELOPMENT EXPENSE 52,576. PHONE-PAY EXPENSES 59,290. STUDENT LOAN RELATED FEES 1,162. BUS LOAN UNDERWRITING RELATED EXPENSES 18,071. BUS LOAN COST OF APPRAISAL 1,277. VISA SIGNATURE TRUREWARDS 261,960. VISA PLATINUM TRUREWARDS 1,184,461. MASTERCARD DEBIT EXPENSE 1,000,671. VISA SIGNATURE PROCESSING 116,610. VISA GOLD PROCESSING FEES 74,388. VISA PLATINUM PROCESSING FEES 1,148,334. VISA BUSINESS PROCESSING FEES 12,553. SMALL BALANCE WRITE OFF -8. PLASTIC CARD FRAUD EXPENSE 354,652. MASTERCARD DEBIT CARD FRAUD LOSSES 14,537. FORM 990, PART XI, LINE 9: CHANGE IN UNREALIZED GAIN ON SECURITIES AVAILABLE-FOR-SALE -4,160,963. FORM 990, PAGE 12, PART XII, LINE 2C: THE SUPERVISORY COMMITTEE IS RESPONSIBLE FOR THE AUDITED FINANCIAL STATEMENTS.