2023-11-06T13:25:08-06:00 2022-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 1100 LOS ANGELES CA 90024 990 2022-01-01 840384061 FOOTHILLS CREDIT UNION FOOT 7209628200 7990 W ALAMEDA AVENUE LAKEWOOD CO 80226 MALLORY FISCHBACH CHIEF FINANCIAL OFFICER 3039142222 2023-11-03 1 MALLORY FISCHBACH 999009999 0 NANAZ BENYAMINI P00666808 3104773924 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z MALLORY FISCHBACH 3550 CLEAR CREEK DRIVE WHEAT RIDGE CO 80401 6459100 0 X FOOTHILLS-CU.COM X 1987 CO EDUCATING INDIVIDUALS, EMPOWERING FAMILIES AND ENRICHING COMMUNITIES WITH EXCITING FINANCIAL SOLUTIONS. TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBER OF THE CREDIT UNION. 8 8 51 11 0 0 0 0 4746568 5046206 157307 201149 0 162372 4903875 5409727 1170 0 0 0 1861536 2389920 0 0 0 2934369 3910393 4797075 6300313 106800 -890586 142969673 152205277 130624756 140166737 12344917 12038540 X EDUCATING INDIVIDUALS, EMPOWERING FAMILIES AND ENRICHING COMMUNITIES WITH EXCITING FINANCIAL SOLUTIONS. TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBER OF THE CREDIT UNION. 0 1 PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OF THE CREDIT UNION. OVER 11,000 MEMBERS SERVED. THIS INCLUDES BOTH DEPOSIT AND LENDING PROGRAMS. PROVIDING OVER $105 MILLION IN LOANS TO OUR MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 0 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 2153 0 1 51 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MALLORY FISCHBACH 7209628200 7990 W ALAMEDA AVE LAKEWOOD CO 80226 AMIRA WATERS DIRECTOR 1.00 X 0 0 0 PAM BEALES VICE-CHAIR 1.00 X X 0 0 0 DAN MCCASKY TREASURER 1.00 X X 0 0 0 DON LOMBARDI DIRECTOR 1.00 X 0 0 0 JEFF STREETER DIRECTOR 1.00 X 0 0 0 JON GROERICH DIRECTOR 1.00 X 0 0 0 PHIL TENNEY BOARD CHAIR 1.00 X X 0 0 0 RUSS TABOR DIRECTOR 1.00 X 0 0 0 SCOTT MCNEIL PRESIDENT 40.00 X 217444 0 19363 MALLORY FISCHBACH CHIEF FINANCIAL OFFICER 40.00 X 119296 0 14606 TIM CATTAU CHIEF LENDING OFFICER 40.00 X 118284 0 7397 MATTHEW LOGAN CHIEF MARKETING OFFICER 40.00 X 103477 0 4492 APRIL AUDETT CHIEF OPERATIONS OFFICER 40.00 X 78914 0 2686 637415 0 48544 4 0 1 0 FINANCIAL CONSTRUCTION SERVICES 6021 E 50TH AVE COMMERCE CITY CO 80022 CONTRACTOR SERVICES 1366763 CU COOPERATIVE SYSTEMS 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 CREDIT CARD PROCESSOR 330270 COMPUTER MARKETING CORP 8520 S SANDY PKWY SANDY UT 84070 DATA PROCESSOR 188682 PLATTE RIVER NETWORKS 5700 WASHINGTON ST DENVER CO 80216 MANAGED IT COMPANY 186803 NATIONAL CREDIT UNION ADMINISTRATION 1775 DUKE ST ALEXANDRIA VA 22314 LOAN ORIGINATION FEES 120111 7 INTEREST ON LOANS 522100 4087494 4087494 MEMBER RELATED CUSO INCOME 522100 651904 651904 FEES AND OTHER CHARGES 522100 306808 306808 5046206 174190 174190 106377 0 106377 106377 106377 1076000 332 1049373 0 26627 332 26959 26959 MEMBER INSURANCE - OTHER INCOME 522100 55995 55995 55995 5409727 5382768 0 26959 685959 1339305 51403 161388 151865 24067 58665 212295 186288 629327 179858 987050 14529 17957 45827 208660 40449 LOAN SERVICING 627109 INTEREST/DIVIDENDS PAID 384502 PROVISION FOR LOAN LOSS 197874 MISCELLANEOUS EXPENSE 82272 13664 6300313 794685 5047872 29000998 16484365 1774053 4693157 93115213 102591321 18007072 2140638 14554657 15866434 788406 1972986 810646 1757081 5923076 142969673 152205277 1110139 994039 8000000 129514617 131172698 130624756 140166737 X 0 0 1442883 1442883 10902034 10595657 12344917 12038540 142969673 152205277 X -890586 14209 570000 X X 0 1 X 1 0 3030083 3030083 13430731 1611959 11818772 1546258 528679 1017579 15866434 MEMBERS SHARE AND DEPOSIT ACCOUNTS 131172698 131172698 X 5409727 0 5409727 0 5409727 6300313 0 6300313 0 6300313 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14) AND, AS SUCH IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, THE CREDIT UNION PAYS TAXES ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE CREDIT UNION HAD NO SIGNIFICANT TAX LIABILITY FOR THE YEAR ENDED DECEMBER 31, 2022. X X 0 0 0 SCOTT MCNEIL PRESIDENT 195791 0 1611 0 20042 0 8792 0 10571 0 236807 0 0 0 SCOTT MCNEIL PRESIDENT LIFE INSURANCE POLICY X 3872031 1805855 0 1 1 SCOTT MCNEIL PRESIDENT AUTO X 24628 1534 0 1 1 SCOTT MCNEIL PRESIDENT UNSECURED X 15000 2184 0 1 1 SCOTT MCNEIL PRESIDENT OVERDRAFT PROTECTION X 1000 932 0 1 1 SCOTT MCNEIL PRESIDENT HELOC X 175000 53453 0 1 1 SCOTT MCNEIL PRESIDENT CREDIT CARD X 20000 18917 0 1 1 SCOTT MCNEIL PRESIDENT AUTO X 41050 39688 0 1 1 SCOTT MCNEIL PRESIDENT 1ST MORTGAGE X 581000 549358 0 1 1 SCOTT MCNEIL PRESIDENT AUTO X 20000 16357 0 1 1 TIM CATTAU OFFICER OVERDRAFT PROTECTION X 1000 0 0 1 1 TIM CATTAU OFFICER HELOC X 618750 0 0 1 1 MALLORY FISCHBACH OFFICER CREDIT CARD X 1000 0 0 1 1 MALLORY FISCHBACH OFFICER 1ST MORTGAGE X 391500 361120 0 1 1 MATT LOGAN OFFICER AUTO X 32082 26500 0 1 1 MATT LOGAN OFFICER 1ST MORTGAGE X 323550 267320 0 1 1 JON GROERICH DIRECTOR HELOC X 396259 107037 0 1 1 JON GROERICH DIRECTOR CREDIT CARD X 1000 32 0 1 1 JON GROERICH DIRECTOR 1ST MORTGAGE X 250000 103031 0 1 1 PHIL TENNEY OFFICER OVERDRAFT PROTECTION X 1500 715 0 1 1 PHIL TENNEY OFFICER HELOC X 70000 69381 0 1 1 PHIL TENNEY OFFICER CREDIT CARD X 5450 0 0 1 1 PHIL TENNEY OFFICER UNSECURED X 25000 0 0 1 1 PHIL TENNEY OFFICER 1ST MORTGAGE X 290844 280460 0 1 1 DON LOMBARDI DIRECTOR HELOC X 60000 0 0 1 1 AMIRA WATTERS DIRECTOR OVERDRAFT PROTECTION X 1000 0 0 1 1 AMIRA WATTERS DIRECTOR OVERDRAFT PROTECTION X 500 0 0 1 1 AMIRA WATTERS DIRECTOR HELOC X 100000 19316 0 1 1 PAM BALES OFFICER AUTO X 18537 11137 0 1 1 PAM BALES OFFICER HELOC X 60000 58347 0 1 1 PAM BALES OFFICER 1ST MORTGAGE X 468000 453233 0 1 1 PAM BALES OFFICER 1ST MORTGAGE X 447250 447250 0 1 1 4693157 FORM 990, PART III, LINE 3 EFFECTIVE JUNE 30, 2022, THE CREDIT UNION MERGED WITH FEDERAL CORRECTIONAL INSTITUTION FEDERAL CREDIT UNION. FOOTHILLS CREDIT UNION'S CHARTER WAS THE SURVIVING CHARTER AND THE CREDIT UNION ACQUIRED ALL ASSETS AND ASSUMED ALL LIABILITIES OF FEDERAL CORRECTIONAL INSTITUTION FEDERAL CREDIT UNION AS OF JUNE 30, 2022. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A MEMBER OWNER FINANCIAL COOPERATIVE THAT IS OPERATED FOR THE BENEFIT OF PEOPLE WHO LIVE OR WORK IN JEFFERSON AND LARIMER COUNTY AND VARIOUS SELECT EMPLOYEE GROUPS AND THEIR FAMILIES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CREDIT UNION ANNUALLY ELECT THE BOARD OF DIRECTORS TO SERVE FOR MULTIPLE-YEAR TERMS BY MAILING IN BALLOTS OR VOTING AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B VARIOUS DECISIONS MADE BY THE BOARD OF DIRECTORS FOR A CREDIT UNION ARE SUBJECT TO APPROVAL BY THE MEMBERS OF THE CREDIT UNION AS SET FORTH IN NCUA RULES AND REGULATIONS AND APPLICABLE STATE REGULATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED BY THE PRESIDENT/CEO AND CHIEF FINANCIAL OFFICER. THE BOARD OF DIRECTORS DOES NOT REVIEW THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, STAFF AND VOLUNTEERS ARE REQUIRED TO READ AND SIGN A DOCUMENT VERIFYING THEY HAVE READ THE CONFLICT OF INTEREST POLICY. ANY ISSUES ARE DISCUSSED WITH THE KEY OFFICERS AND THOSE CHARGED WITH GOVERNANCE FOR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT/CEO HAS AN ANNUAL REVIEW OF PERFORMANCE AND COMPENSATION CONDUCTED USING THE CUNA STAFF SALARY REPORT. THE COMPENSATION REVIEW AND ANY CHANGES ARE APPROVED BY THE INDEPENDENT BOARD MEMBERS. THE PROCESS AND APPROVAL IS DOCUMENTED IN THE EXECUTIVE SESSION MINUTES AND THE REVIEW IS KEPT IN THE PRESIDENT/CEO'S PERSONNEL FILE. ALL EMPLOYEES UNDERGO AN ANNUAL REVIEW. THE CEO/PRESIDENT CONDUCTS ALL UPPER MANAGEMENT REVIEWS USING THE CUNA STAFF SALARY REPORT. THE COMPENSATION REVIEW PROCESS AN APPROVAL IS DOCUMENTED IN EACH EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 18 FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST AND ANNUALLY FOR MEMBERS WHO ATTEND THE ANNUAL MEETING. ANY POLICY REQUEST BY A MEMBER MUST BE APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST AND ANNUALLY FOR MEMBERS WHO ATTEND THE ANNUAL MEETING. ANY POLICY REQUEST BY A MEMBER MUST BE APPROVED BY THE BOARD. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 570,000. PART XII, LINE 2C SELECTION OF THE AUDITORS AND OVERSIGHT OF THE AUDITORS IS DONE BY THE SUPERVISORY COMMITTEE. THERE WERE NO CHANGES TO THE SELECTION OR OVERSIGHT PRACTICES DURING 2022.