2024-10-29T10:52:06-07:00 2023-12-31 990 2023-01-01 840417233 SunWest Educational Credit Union SUNW 7195610804 4141 Sovereign Circle Pueblo CO 81005 Amy Galassini Chief Financial Officer 7195610804 2024-10-17 1 2023 2024-10-15 13:58:12Z SunWest Credit Union Leslie Shepard 4141 Sovereign Circle Pueblo CO 81005 10156671 0 X www.sunwestecu.com X 1935 CO SunWest Credit Union will create a place where people feel they belong and can have all of their financial needs met, proactively engage with our members and our community, offer easily accessible financial products and services that meet our members' needs, and grow our financial strength so we can continuously develop offerings relevant to our members' changing lives. 7 7 47 10 9480 0 0 0 7088270 8718388 930885 1368497 62996 69786 8082151 10156671 0 0 0 0 2875904 2814903 0 0 0 3302130 5521048 6178034 8335951 1904117 1820720 203642289 208549423 186838349 189567727 16803940 18981696 SunWest Credit Union will create a place where people feel they belong and can have all of their financial needs met, proactively engage with our members and our community, offer easily accessible financial products and services that meet our members' needs, and grow our financial strength so we can continuously develop offerings relevant to our members' changing lives. 0 0 Create a place where people feel they belong and can have all of their financial needs met, while proactively engaging with our members and our community. Offer easily accessible financial products and services that meet our members' needs while growing our financial strength so we can continuously develop offerings relevant to our members' changing lives. 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 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 3471 0 1 47 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 1 1 1 1 1 1 1 0 0 X Amy Galassini 7195610804 4141 Sovereign Circle Pueblo CO 81005 Leslie Shepard President/CEO 45 X 155447 0 16242 Amy Galassini Vice President of Finance 45 X 115061 0 14652 Jeff Meigs Director of IT 45 X 103562 0 14202 Michael Shoaf Vice President of Lending 45 X 109451 0 6289 Alexander Krinsky Vice President of IT 45 X 60953 0 11512 Amy Gasperetti VP of Member Experience 45 X 51143 0 3355 Andy Beeman Board Treasurer 3 X 668 0 0 David Niccoli Board Chairperson 5 X 0 0 0 Henry Roman Board Vice-Chairperson 3 X 0 0 0 Lita Martinez Board Secretary 3 X 0 0 0 Patrick Garcia Board Member 3 X 0 0 0 Fred Ingo Board Member 3 X 0 0 0 Gloria Santistevan-Feeback Board Member 3 X 0 0 0 596285 0 66252 4 0 1 0 Jack Henry & Associates Inc 663 W Hwy 60 Monett MO 65708 Information Services 407296 Fidelity National Information Services Inc 347 Riverside Ave Jacksonville FL 32202 Card Services 308222 Visa USA Inc One Market Plaza San Francisco CA 94105 Card Services 186775 DC Private & Investigative Security Consultants 1045 W 6th Street Pueblo CO 81003 Security 139841 4 0 Interest Income/Loans 522130 6995773 6995773 0 0 Other Income 522130 1163194 1163194 0 0 Fee Income 522130 559421 559421 0 0 0 0 0 0 8718388 1368497 0 0 1368497 0 0 0 0 0 0 0 0 60306 0 0 0 60306 0 60306 0 0 60306 0 0 Non-Member ATM Fees 522130 9480 0 9480 0 0 0 0 0 9480 10156671 8718388 9480 1428803 X 0 0 0 0 545176 0 1735225 52619 292105 189778 0 11371 31000 0 0 53155 865123 397225 493703 425845 0 222997 25654 0 16824 0 0 276889 42094 Dividend and Interest Expense 1778314 Provision for Credit Losses 646678 Loan Servicing 122745 Miscellaneous Expenses 111431 8335951 0 0 0 1562188 1341046 10687564 19859984 0 0 2000 0 0 0 0 0 127474643 138427063 0 0 187667 288176 9324927 4831023 4570641 4493904 0 0 56094591 40964314 0 0 0 0 3062995 3174936 203642289 208549423 1203502 1383609 0 0 0 0 0 0 338488 419748 0 0 0 0 0 0 185296359 187764370 186838349 189567727 X 0 0 0 0 16803940 18981696 16803940 18981696 203642289 208549423 X 1820720 1161854 0 0 0 -804818 X X 0 0 0 0 1 X 0 1055787 1055787 0 4919688 2002235 2917453 0 0 0 0 0 3031078 2539159 491919 0 318374 289629 28745 4493904 0 0 Other Investments 40964314 C 40964314 0 Member Share and Deposit Accounts 187764370 187764370 Schedule D, Part IV, Line 2b The escrow liability is for escrow accounts held for members who have mortgage loans with the credit union to pay property taxes and property insurance. X 1 1 X X 0 0 0 Leslie Shepard President/CEO 155000 0 0 0 447 0 6106 0 10136 0 171689 0 0 0 Schedule J, Part I, Line 1a Spouse travel was provided to board members. The spouse travel benefits were treated as taxable compensation if they exceeded $600. All benefits are approved through the annual budgeting process. Form 990, Part VI, Section A, Line 6 Member-owned non-for-profit financial institution. State Chartered Credit Union 11,529 Members Form 990, Part VI, Section A, Line 7a An annual election is held for membership to elect members of the board of directors for any open positions. Any member in good standing over 18 years of age may run for an open position on the board that is vacated due to an expiring term or other circumstance which may create a vacancy. All members in good standing over 18 years of age are eligible to vote. Each member is entitled to only one vote. Form 990, Part VI, Section B, Line 11b A copy of the completed Form 990 is provided for review to each member of the board of directors upon completion. The chief financial officer is available to answer any questions. The Form 990 is then voted on and approved by a quorum of the board of directors prior to submission. Form 990, Part VI, Section B, Line 12c All employees and volunteers are required to disclose any conflict of interest on an annual basis. Conflicts of interest are determined at an executive/board level. Actual conflicts of interest are reviewed at an executive/board level. Annual disclosure statements must be signed by all employees and volunteers. Form 990, Part VI, Section B, Line 15 The board of directors determines compensation for the President/CEO using available comparability data. The board of directors has granted the President/CEO authority to determine compensation for the other officers of the organization with the compensation budget. Compensation reviews are performed at least annually and were last conducted in 2023. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, and financial statements are available for inspection at the main office of the credit union upon request. Form 990, Part IX, Line 11g ATM Expenses $432,511, Card Services Expenses $379,552, Other Professional Fees $77,538 Form 990, Part XI, Line 9 One-time adjustment to Undivided Earnings to adopt ASC Topic 326 - Financial Instruments - Credit Losses (CECL) Form 990, Part XII The credit union has engaged an audit firm to conduct an agreed-upon procedures engagement for the period of July 1, 2023 to June 30, 2024. The engagement will meet the minimum requirements established by Part 715 of the NCUA Rules and Regulations.