2014-08-14T03:18:03-00:00 2013-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2013-01-01 886003195 FRONTIER FINANCIAL CREDIT UNION FRON 7758292070 5200 NEIL ROAD RENO NV 89502 BRUCE A RODELA PRESIDENTCEO 2014-08-14 true DOUGLAS ORTH 3052328272 2014-08-14 2013 2015-11-30 17:44:51Z BRUCE A RODELA 5200 NEIL ROAD RENO NV 89502 3712413 false X WWW.FRONTIERFCU.ORG X 1958 NV FRONTIER FINANCIAL CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE REVENUES EARNED BY THE CREDIT UNION IS IN COMPLIANCE WITH THE STATE STATUTES AND IN ACCORDANCE WITH OUR STATE CHARTER TO SERVE FIELDS OF MEMBERSHIP BY PROVIDING FINANCIAL SERVICES INCLUDING LENDING AND DEPOSITORY FUNCTIONS. 5 5 25 5 11853 -780 0 3307592 2971977 124375 149094 558466 591342 3990433 3712413 0 0 1131894 1061031 0 0 2920765 1869970 4052659 2931001 -62226 781412 73502870 68019371 69851268 63691078 3651602 4328293 X FRONTIER FINANCIAL CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE REVENUES EARNED BY THE CREDIT UNION IS IN COMPLIANCE WITH THE STATE STATUTES AND IN ACCORDANCE WITH OUR STATE CHARTER TO SERVE FIELDS OF MEMBERSHIP BY PROVIDING FINANCIAL SERVICES INCLUDING LENDING AND DEPOSITORY FUNCTIONS. false true PROVIDED FINANCIAL SERVICES TO THE MEMBERS OF FRONTIER FINANCIAL CREDIT UNION. false false false false false false false false false true true false false true true true 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 true 751 0 true 25 true true true false false false false false X 5 5 false false false false true true true true true false false false true true true true true true true false X FRONTIER FINANCIAL CREDIT UNION 7758292070 5200 NEIL ROAD RENO NV 89502 JAMES BEGBIE CHAIRMAN 001.00 001.00 X 0 0 0 STEVE JACKSON VICE CHAIRMAN 001.00 001.00 X 0 0 0 JAMES GUBBLES TREASURER 001.00 001.00 X 0 0 0 JERRY WAGNER SECRETARY 001.00 001.00 X 0 0 0 MARSHA BURGESS DIRECTOR 001.00 001.00 X 0 0 0 BRUCE A RODELA PRESIDENT/CEO 040.00 040.00 X 149063 0 6593 BRENDA MERCER CONTROLLER 040.00 040.00 X 49693 0 5712 198756 12305 1 false true false FISERV 10926 DAVID TAYLOR DRIVE SUITE 110 CHARLOTTE NC 28262 CORE SYSTEM 634795 1 INCOME ON LOANS 522100 2286801 2286801 FEE INCOME 522100 673323 673323 NON-MEMBER ATM FEE INCOME 522200 11853 11853 2971977 149094 149094 MISC. OTHER INCOME 522100 591342 591342 591342 3712413 3700560 11853 0 0 0 0 155656 155656 0 716232 716232 1295 1295 105691 105691 82157 82157 0 983 983 20381 20381 0 0 53667 53667 53222 53222 258138 258138 304741 304741 0 83649 83649 7944 7944 0 5961 5961 93509 93509 11514 11514 123814 123814 80986 80986 SEE ATTACHED SCHEDULE 771461 771461 0 2931001 2931001 900710 922539 14981454 12675916 200725 170670 45576153 41814626 173662 87369 6187219 1944060 4353213 4243159 348874 793839 5656353 5967762 1311726 1343491 73502870 68019371 141928 897546 69709340 62793532 69851268 63691078 X 3651602 4328293 3651602 4328293 73502870 68019371 781412 -104721 X false true X true false false 1251354 1251354 3512279 701683 2810596 1423586 1242377 181209 4243159 Financial derivatives and other financial products Closely-held equity interests CATALYST CORPORATE PERPETUAL CAPITAL 178779 F FIRST CORPORATE PERPETUAL CONTRIBUTED CAPITAL 250991 F LONG TERM CERTIFICATE OF DEPOSIT 5537992 F 5967762 Federal income taxes REGULAR SHARES 29979715 SHARE DRAFT 14144049 ROTH IRA IRA CERTIFICATES CERTIFICATE OF DEPOSIT 3315040 MONEY MARKET 14361986 OTHER SHARES 992742 62793532 X 3712413 3712413 3712413 2931001 2931001 2931001 X 2 CREDIT UNIONS ARE EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE LAWS. 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 THE INTERNAL REVENUE CODE IRC SECTION 501C14. AS SUCH, THE CREDIT UNION WOULD NORMALLY BE EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, THE CREDIT UNIONS EXEMPT STATUS WAS REVOKED ON FEBRUARY 15, 2013, AS A RESULT OF NOT FILING THE REQUIRED INTERNAL REVENUE SERVICE IRS FORM 990 RETURNS FOR THREE CONSECUTIVE YEARS. SEE NOTE 11 ADDITIONALLY, IRC SECTION 511 IMPOSES A TAX ON 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. AS A RESULT OF ADOPTING THE INCOME TAXES TOPIC OF THE FASB ASC, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. AS SUCH, THE CREDIT UNION HAS NOT FILED TAX RETURNS FOR REPORTING UBIT-RELATED INCOME FOR TAX YEARS PRIOR TO MARCH 31, 2013. THE IRS AND STATE, WHERE APPLICABLE, 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 UNIONS FINANCIAL STATEMENTS FOR THE YEARS ENDED MARCH 31, 2013 AND 2012. X X false false false BRUCE A RODELA PRESIDENT/CEO 126164 3000 19899 6593 155656 Form 990, Part VI, Section A, Line 6 THE CREDIT UNION HAS MEMBERS. Form 990, Part VI, Section A, Line 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP. Form 990, Part VI, Section A, Line 11B A COPY OF THE FORM 990 IS GIVEN TO THE PRESIDENT/CEO BEFORE FILING AND PRESENTED TO THE BOARD OF DIRECTORS AFTER FILING. Form 990, Part VI, Section B, Line 12C THE BOARD OF DIRECTORS REVIEW AND SIGN A CODE OF CONDUCT POLICY WHICH CONTAINS A CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. Form 990, Part VI, Section B, Line 15AB THE BOARD OF DIRECTORS SETS THE COMPENSATION AND BENEFITS PACKAGE FOR THE PRESIDENT/CEO. THE BOARD IS RESPONSIBLE FOR PERFORMING AN ANNUAL EVALUATION AS PART OF THE PROCESS. THE PRESIDENT/CEO SETS THE COMPENSATION AND BENEFITS PACKAGE FOR THE EXECUTIVE VICE PRESIDENT AND CONTROLLER. Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO THE PUBLIC. Form 990, Part III, Line 3 THE CREDIT UNION DISCONTINUED THEIR IRA PROGRAM, EFFECTIVE APRIL 2013. Form 990, Part VI, Section A, Line 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODYS 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.