2025-11-13T15:37:26-06:00 2024-12-31 450250958 Eide Bailly LLP 877 W Main St Ste 800 Boise ID 837025858 990 2024-01-01 820219844 Frontier Credit Union FRON 2085239068 865 South Woodruff Idaho Falls ID 83401 Jeff Vogt CFO 2085239068 2025-11-12 1 1 Kimberly C Nelson CPA P01887713 2083447150 2025-11-11 2024 2025-03-06 01:10:19Z Dan Thurman 865 South Woodruff Idaho Falls ID 83401 46617507 0 X frontiercreditunion.com X 1935 ID To be an active participant in the financial success of our members. 7 7 248 11 -24243 0 0 0 38783605 43616498 1596047 3001009 0 0 40379652 46617507 50483 0 0 0 14133490 15998014 0 0 0 23154153 29242883 37338126 45240897 3041526 1376610 670374743 686998984 620623883 636081963 49750860 50917021 X To be an active participant in the financial success of our members. 0 0 Consumer lending to credit union members: The credit union granted over $75 million in consumer loans during 2024. Real estate lending to credit union members: The credit union originated 259 first mortgage and HELOC real estate loans during 2024 totaling $48.5 million. Savings, checking and other miscellaneous account services to credit union members: The Credit Union served approximately 50,000 members as of December 31, 2024 through 13 branches. Commercial lending to credit union members: The credit union originated 55 commercial loans during 2024 totaling $13.3 million. 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 1 1 0 0 1 7868 0 1 248 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X Jeff Vogt 2085239068 865 South Woodruff Idaho Falls ID 83401 Nathan Downey Board Chair 2.00 0.00 X X 0 0 0 Nicole Mattos Board Vice Chair 2.00 0.00 X X 0 0 0 Josh Searle Board Secretary 2.00 0.00 X X 0 0 0 Josh Roos Board Treasurer 2.00 0.00 X X 0 0 0 Tyler Brooks Director 2.00 0.00 X 0 0 0 Mark Hyndman Director 2.00 0.00 X 0 0 0 Justin Chip Director 2.00 0.00 X 0 0 0 Dan Thurman President/CEO 50.00 2.00 X 486677 0 43624 Jeff Vogt EVP/CFO 50.00 2.00 X 254337 0 29300 Cindy High EVP/COO 50.00 0.00 X 240362 0 19852 Ethan Morriss EVP/CLO 50.00 0.00 X 261316 0 29172 Robert Hale VP IT 50.00 0.00 X 205235 0 35336 Robert Maynes General Counsel 50.00 2.00 X 201023 0 37034 Steven Foster Chief Marketing Officer 50.00 2.00 X 209989 0 5393 1858939 0 199711 23 0 1 0 CSI Inc 2880 E 14th N Ammon ID 83401 General Contractor 1296048 SCC Construction 5151 W 5000 N Rexburg ID 83440 General Contractor 467436 2 Loan Interest Income 522100 32685043 32685781 -738 Fee Income 522100 6661008 6661008 Visa Interchange Income 522100 4227390 4227390 Safe Deposit Box & Member ATM Inc 522100 66562 66562 CUSO Passthrough Income 522100 -23505 -23505 43616498 3001009 3001009 46617507 43640741 -24243 3001009 815898 11590420 398448 2212077 981171 36759 72750 239503 968122 2132311 1517604 372289 61313 1499839 117623 Dividends 10167917 Provision for Credit Lo 6230000 Visa Card Expense 1414127 Maintenance 1271090 3141636 45240897 5461986 4521647 21680577 28853538 2377598 2520306 2384505 2433380 536395276 530166691 3976000 8065205 43847956 7612756 32995590 36235200 41321438 47109343 1622410 3690173 22159363 23403501 670374743 686998984 10450609 10604896 610173274 625477067 620623883 636081963 X 0 0 0 0 49750860 50917021 49750860 50917021 670374743 686998984 X 1376610 -233954 23505 X 0 1 X 1 0 10274512 10274512 24088817 3981931 20106886 6553933 3630825 2923108 2930694 2930694 36235200 Alloya Securities 1000000 C FHLB SEA Stock Account 1527300 C Mortgage Backed Securities 12814619 F Collateralized Mortgage Obligations 9255147 F Negotiable Certificates 20944000 F NCUA CLF Stock 1568277 F 47109343 Share Drafts 123957350 Regular Shares 76579810 Money Market Shares 198537127 Other Shares 191402780 Borrowings Payable 35000000 625477067 X 46407058 -233954 -233954 46641012 -23505 -23505 46617507 45240897 0 45240897 0 45240897 Part X, Line 2: The Credit Union is exempt from federal and state income taxes. Accordingly, no income tax provision has been recorded on the accompanying financial statements. Deferred tax assets and liabilities are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent. The terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit or liability that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management's judgment. The Credit Union had no unrecognized tax positions as of December 31, 2024. The Credit Union recognized no interest or penalties on the underpayment of income taxes during the year ended December 31, 2024, and had no accrued interest or penalties on the statement of financial condition as of December 31, 2024. The Credit Union has no tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase during the next twelve months. The Internal Revenue Service (IRS) and certain state taxing authorities are currently revisiting what, if any, products and services provided by state chartered credit unions are subject to unrelated business income tax (UBIT). There is currently very little guidance in the IRS code on what activities should be subject to UBIT. The IRS has indicated that they are studying the issue and may issue additional guidance. As a result, at this time there is uncertainty regarding whether state chartered credit unions should pay income tax on certain types of net taxable income from activities that may be considered by taxing authorities as unrelated to the purpose for which the Credit Union was granted nontaxable status. The Credit Union has not filed any tax returns in the past showing these activities as potential taxable activities. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities deemed to be unrelated to the Credit Union's nontaxable status is not expected to have a material effect on the Credit Union's financial position or results of operations. Part XI, Line 4b - Other Adjustments: CUSO Passthrough Income -23,505. X X X 0 1 0 Dan Thurman President/CEO 432422 0 54030 0 225 0 16500 0 28104 0 531281 0 0 0 Ethan Morriss EVP/CLO 244841 0 16130 0 345 0 13221 0 16931 0 291468 0 0 0 Jeff Vogt EVP/CFO 237175 0 16172 0 990 0 11894 0 18386 0 284617 0 0 0 Cindy High EVP/COO 225998 0 14019 0 345 0 11644 0 9188 0 261194 0 0 0 Robert Hale VP IT 188616 0 15629 0 990 0 10613 0 25703 0 241551 0 0 0 Robert Maynes General Counsel 186239 0 14439 0 345 0 10524 0 27490 0 239037 0 0 0 Steven Foster Chief Marketing Officer 199130 0 10769 0 90 0 0 0 5393 0 215382 0 0 0 Part I, Line 4b The Credit Union deposited funds into a split life insurance policy on the participant's life. During life, and subject to the policy generating sufficient values, the participant can borrow from the policy. At death, the organization recovers its premiums plus interest plus additional key-person insurance proceeds. As of the end of the tax year, policy loan balances for those reported on Form 990, Part VII were as follows: Dan Thurman initial loan balance $600,000 4/13/2018 ($733,826 as of 12/31/2024) Cindy High initial loan balance $350,000 4/13/2018 ($428,065 as of 12/31/2024) Jeff Vogt initial loan balance $1,600,000 7/16/2018 ($1,699,554 as of 12/31/2024) Ethan Morriss initial loan balance $1,050,000 7/16/2018 ($1,129,371 as of 12/31/2024) Robert Hale initial loan balance $1,760,000 7/16/2018 ($1,891,868 as of 12/31/2024) Robert Maynes initial loan balance $2,750,000 3/17/2023 ($2,937,302 as of 12/31/2024) Dan Thurman CEO Split Dollar Life Insurance X 600000 733826 0 1 1 Jeff Vogt CFO Split Dollar Life Insurance X 1600000 1699554 0 1 1 2433380 Form 990, Part VI, Section A, line 1a The governing body of the organization delegates broad authority to the Executive Committee. The Executive Committee is comprised of the Chairman, Vice Chairman, Secretary and Treasurer of the board. Form 990, Part VI, Section A, line 6 Frontier Credit Union is a member owned financial cooperative. Each account holder is a member. Form 990, Part VI, Section A, line 7a Members elect the Board of Directors at the annual meeting of members. If a vacancy occurs during the year the board may appoint a replacement until the membership can vote again at the next annual meeting. Form 990, Part VI, Section B, line 11b Form 990 is reviewed by the Credit Union CEO prior to filing. In addition, the return is reviewed by the Board Chairman and made available to other board members upon request. Form 990, Part VI, Section B, line 12c All Key Employees, Board of Directors, Officers, and Volunteers are required to complete a conflict of interest disclosure upon hire/appointment and annually each year thereafter. Completed forms are reviewed by the General Counsel. Disclosed conflicts are reviewed by the CEO and General Counsel jointly. If there is any uncertainty as to if the conflict has the potential to affect the person's ability to perform their work without bias, the case is taken to the Board for a final decision. When a conflict is identified, the associated person shall not be allowed any influence or decision making authority over the situation and must abstain from voting on the matter. Failure to disclose a conflict or abide by the provisions of the policy may result in disciplinary action up to and including termination or removal from their position. Form 990, Part VI, Section B, line 15 Compensation is typically administered by the HR Director. The CU works in partnership with a compensation firm dedicated to credit union compensation plans. Each year over 20 industry related survey sources are compiled and data is broken down by several variables such as geographic location, institution asset size, essential job functions, required knowledge and experience, etc. Final data is used to ensure FCU is paying within market range and that pay is equitable among like positions with similar experience. The Board of Directors conducts their own research in combination with that provided by the HR Director to establish the CEO pay. Form 990, Part VI, Section C, line 19 The Credit Union's financial statements are available on the NCUA.GOV website and are also posted in the branches. The Organization's governing documents and conflict of interest policy are available upon request. Form 990, Part XI, line 9: CUSO Passthrough Income 23,505. East Idaho Credit Union Charitable Foundation Inc 865 S Woodruff Ave Idaho Falls ID 83401 882511781 Charitable Activities ID 501(c)(3) Line 7 Frontier Credit Union 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0