2024-11-12T09:21:58-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2023-01-01 860108770 ONEAZ CREDIT UNION ONEA 6024674088 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 MICHAEL BODEN EVP CFO 6024674094 2024-11-08 1 0 MELISSA HANGSLEBEN P02087031 6022662248 2024-11-08 2023 2024-10-15 13:58:12Z BRANDON MICHAELS 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 175040982 0 X WWW.ONEAZCU.COM X 1951 AZ A FINANCIAL COOPERATIVE PROVIDING MEMBERS WITH FINANCIAL SERVICES. 9 9 638 12 399304 0 0 0 101505251 131342726 20710361 37733381 4973820 2171646 127189432 171247753 764440 592748 4165387 24644701 58548423 56057172 0 0 0 48506913 65039503 111985163 146334124 15204269 24913629 3270651500 3384527864 3085222848 3163953785 185428652 220574079 TO PROVIDE OUR MEMBER-OWNERS WITH RESPONSIVE SERVICE, CONVENIENT ACCESS, CONSUMER EDUCATION, AND VALUE-ADDED FINANCIAL AND RELATED PRODUCTS AND SERVICES, IN A FISCALLY SOUND MANNER. 0 0 THE CREDIT UNION PROVIDES CHECKING AND SAVINGS DEPOSIT ACCOUNTS AS WELL AS CONSUMER, REAL ESTATE AND BUSINESS LOANS TO ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 47816 0 1 638 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MICHAEL BODEN 6024674088 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 RAY O'CONNOR DIRECTOR 2.00 0.00 X 25162 0 0 MARQUETTA WHITE DIRECTOR 2.00 0.00 X 24300 0 0 PEARLETTE RAMOS VICE CHAIRPERSON 2.00 0.00 X X 25140 0 0 JON BORGE CHAIRMAN 2.00 0.00 X X 25000 0 0 RYAN WILLIAMS TREASURER 2.00 0.00 X X 20000 0 0 SAM WHEELER DIRECTOR 2.00 0.00 X 24952 0 0 ED SANCHEZ DIRECTOR 2.00 0.00 X 24687 0 0 GEORGANNA MEYER SECRETARY 2.00 0.00 X X 24314 0 0 MARTHA ROZEN DIRECTOR 2.00 0.00 X 25299 0 0 RICHARD K REEDY CEO/PRESIDENT (THRU 10/1/23) 40.00 2.00 X 1383642 0 265934 MICHAEL BODEN EVP CFO 40.00 1.00 X 606659 0 181820 LAURA WORZELLA EVP COO 40.00 0.00 X 1135467 0 186848 MICHAEL EMANUELLI EVP CAO 40.00 0.00 X 1064090 0 148970 DEBORAH PEARSON EVP STRATEGY & BRAND 40.00 5.00 X 597345 0 149906 KEN BAUER EVP CLO 40.00 0.00 X 494472 0 157168 BRANDON MICHAELS CEO/PRESIDENT (BEGAN 5/22/23) 40.00 0.00 X 543054 0 158360 SASSAN AZHADI SVP CIO (THRU 6/25/23) 40.00 0.00 X 255994 0 29606 BRIAN JOHNSON SVP BUSINESS PLANNING 40.00 0.00 X 263583 0 71456 THOMAS MITCHELL SVP WEALTH MANAGEMENT 40.00 0.00 X 270305 0 44979 BEAM CHIP GRIFFITH SVP RETAIL SALES & OPERATIONS 40.00 0.00 X 328736 0 68223 KRISTEN RENEE SVP REVENUE OPTIMIZATION & MARKET 40.00 0.00 X 305463 0 56313 LIZA BUCHANAN SVP MARKETING OPERATIONS 40.00 0.00 X 216680 0 40845 TAMMY PAQUETTE WEALTH ADVISOR 40.00 0.00 X 303056 0 41727 TORREY JEWETT WEALTH ADVISOR 40.00 0.00 X 264236 0 30142 MICHAEL SAMMONS WEALTH ADVISOR 40.00 0.00 X 356419 0 57239 CHRISTOPER GRAY VP OPERATIONS 40.00 0.00 X 250097 0 25941 JERAME PEARSON ASSISTANT DIRECTOR SPECIALITY LENDING 40.00 0.00 X 291460 0 26238 9149612 0 1741715 141 0 1 0 PSCU 560 CARILLON PKWY ST PETERSBURG FL 33716 CREDIT & DEBIT CARD PROCESSING 3621456 GOOGLE PO BOX 39000 SAN FRANCISCO CA 94139 DIGITAL MARKETING 2889444 VISA USA INC PO BOX 8999 SAN FRANCISCO CA 94128 CREDIT & DEBIT CARD PROCESSING 1827929 FISERV PO BOX 208457 DALLAS TX 75320 BANKING SYSTEMS 1578335 LUMIN DIGITAL 3001 BISHOP DR SUITE 110 SAN RAMON CA 94583 ONLINE AND MOBILE BANKING 1298039 81 INTEREST ON LOANS 522100 95396633 95396633 FEES AND CHARGES 522100 16715212 16315908 399304 INTERCHANGE INCOME 522100 16671380 16671380 GAIN ON SALE OF LOANS 522100 2559501 2559501 131342726 37855398 37855398 924063 204432 719631 719631 719631 1877397 1589383 1949395 1639402 -71998 -50019 -122017 -122017 MISCELLANEOUS INCOME 900099 1452015 1452015 1452015 171247753 130943422 399304 39905027 592748 24644701 9244772 37449490 1145013 5107930 3109967 316537 151769 2639132 6035378 2767506 11150863 4359608 1203422 1254810 6149544 2588703 CREDIT CARD EXPENSES 10138906 PROVISION FOR LOAN LOSS 7358604 LOAN AND BANKING FEES 4858508 ONLINE BANKING EXPENSES 2943057 1123156 146334124 79078500 115424497 2716098 3277582 1883612899 2121320868 8255028 6848485 108549005 43233569 67539995 65315436 1143243392 978523340 42991027 47271528 43214561 46546128 3270651500 3384527864 18766146 22883805 100000000 180000000 2966456702 2961069980 3085222848 3163953785 X 0 0 0 0 185428652 220574079 185428652 220574079 3270651500 3384527864 X 24913629 22956798 -12725000 X 0 1 X 1 0 25615801 25615801 56846096 22232669 34613427 2621432 2528194 93238 23293672 18472706 4820966 172004 172004 65315436 MEMBERS' SHARE AND SAVINGS ACCOUNTS 2961069980 2961069980 X 171452185 0 171452185 -204432 -204432 171247753 146538556 204432 204432 146334124 0 146334124 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED FROM THE FUNCTIONAL EXPENSE SCHEDULE -204,432. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES MOVED FROM THE FUNCTIONAL EXPENSE SCHEDULE 204,432. 1 ONEAZ COMMUNITY FOUNDATION 2355 W PINNACLE PEAK RD PHOENIX AZ 85027 461959069 501(C)(3) 399412 0 UNRESTRICTED WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 391143339 501(C)(6) 10000 0 UNRESTRICTED ONE COMMUNITY FOUNDATION PO BOX 17836 PHOENIX AZ 85013 460716958 501(C)(3) 10000 0 UNRESTRICTED STATE EMPLOYEE CHARITABLE CAMPAIGN 100 N 15TH AVE SUITE 401 PHOENIX AZ 85007 866004791 STATE OF ARIZONA 20000 0 UNRESTRICTED 3 1 PART I, LINE 2: DONATIONS ARE APPROVED BY THE BOARD IN THE ANNUAL BUDGETING PROCESS WITH APPROVED DONATIONS ADMINISTERED AND MONITORED THROUGHOUT THE YEAR BY SENIOR MANAGEMENT. X X X X 0 1 0 RICHARD K REEDY CEO/PRESIDENT (THRU 10/1/23) 462651 0 306101 0 614890 0 254076 0 11858 0 1649576 0 422019 0 LAURA WORZELLA EVP COO 458204 0 138462 0 538801 0 165204 0 21644 0 1322315 0 538801 0 MICHAEL EMANUELLI EVP CAO 370654 0 122541 0 570895 0 136719 0 12251 0 1213060 0 570895 0 MICHAEL BODEN EVP CFO 436694 0 136491 0 33474 0 159936 0 21884 0 788479 0 0 0 DEBORAH PEARSON EVP STRATEGY & BRAND 374942 0 120555 0 101848 0 134977 0 14929 0 747251 0 101848 0 BRANDON MICHAELS CEO/PRESIDENT (BEGAN 5/22/23) 403301 0 50000 0 89753 0 149712 0 8648 0 701414 0 0 0 KEN BAUER EVP CLO 362252 0 115801 0 16419 0 135857 0 21311 0 651640 0 0 0 MICHAEL SAMMONS WEALTH ADVISOR 33035 0 323384 0 0 0 36261 0 20978 0 413658 0 0 0 BEAM CHIP GRIFFITH SVP RETAIL SALES & OPERATIONS 270735 0 58001 0 0 0 47844 0 20379 0 396959 0 0 0 KRISTEN RENEE SVP REVENUE OPTIMIZATION & MARKET 249902 0 55561 0 0 0 47522 0 8791 0 361776 0 0 0 TAMMY PAQUETTE WEALTH ADVISOR 30741 0 272315 0 0 0 20598 0 21129 0 344783 0 0 0 BRIAN JOHNSON SVP BUSINESS PLANNING 202261 0 61322 0 0 0 56649 0 14807 0 335039 0 0 0 JERAME PEARSON ASSISTANT DIRECTOR SPECIALITY LENDIN 149290 0 142170 0 0 0 12576 0 13662 0 317698 0 0 0 THOMAS MITCHELL SVP WEALTH MANAGEMENT 219968 0 42287 0 8050 0 43353 0 1626 0 315284 0 0 0 TORREY JEWETT WEALTH ADVISOR 29391 0 234845 0 0 0 15639 0 14503 0 294378 0 0 0 SASSAN AZHADI SVP CIO (THRU 6/25/23) 58606 0 69686 0 127702 0 23404 0 6202 0 285600 0 9459 0 CHRISTOPER GRAY VP OPERATIONS 198949 0 41945 0 9203 0 18932 0 7009 0 276038 0 0 0 LIZA BUCHANAN SVP MARKETING OPERATIONS 182844 0 33836 0 0 0 30262 0 10583 0 257525 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS A 457F NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF MANAGEMENT. THE FOLLOWING EMPLOYEES RECEIVED DISTRIBUTIONS FROM THIS PLAN DURING 2023: RICHARD K. REEDY - $422,019 MICHAEL EMANUELLI - $570,895 DEBORAH PEARSON - $101,848 LAURA WORZELLA - $538,801 SASSAN AZHADU - $9,459 THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS FROM THIS PLAN DURING 2023: RICHARD K. REEDY - $242,199 BRANDON MICHAELS - $139,321 MICHAEL EMANUELLI - $120,418 MICHAEL BODEN - $142,794 DEBORAH PEARSON - $119,922 LAURA WORZELLA - $148,526 KEN BAUER - $118,942 SASSAN AZHADI - $15,784 LIZA BUCHANAN - $20,820 BRIAN JOHNSON - $31,479 BEAM CHIP GRIFFITH - $38,063 THOMAS MITCHELL - $31,127 KRISTEN RENEE - $35,903 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD SHALL APPOINT A STANDING EXECUTIVE COMMITTEE TO ACT FOR IT AS PERMITTED AND AUTHORIZED BY APPLICABLE LAW. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIRPERSON, VICE-CHAIRPERSON, SECRETARY AND TREASURER. THE EXECUTIVE COMMITTEE SHALL MEET AS OFTEN AS NECESSARY. THE EXECUTIVE COMMITTEE SHALL MEET WHEN CALLED INTO SESSION BY THE CHAIRPERSON OR ANY TWO (2) OTHER MEMBERS OF THE COMMITTEE. THREE (3) MEMBERS OF THE EXECUTIVE COMMITTEE SHALL CONSTITUTE A QUORUM TO TAKE ACTION. THE DUTIES OF THE EXECUTIVE COMMITTEE SHALL BE: (1) TO ESTABLISH, JOINTLY WITH THE PRESIDENT/CEO FOR RECOMMENDATION TO THE BOARD, THE ANNUAL GOALS AND OBJECTIVES THE CREDIT UNION, (2) TO REVIEW AND REPORT TO THE BOARD ON THE PRESIDENT/CEO'S PERFORMANCE AND SALARY; (3) TO ACT FOR THE BOARD, SUBJECT TO ITS RATIFICATION, ON MATTERS OF URGENCY WHEN A MEETING OF THE BOARD CANNOT BE CONVENED IN TIME; AND (4) TO PERFORM ANY OTHER FUNCTION DEEMED USEFUL, SUBJECT TO THE BOARD'S RATIFICATION. AT ALL MEETINGS OF THE EXECUTIVE COMMITTEE, EACH DIRECTOR PRESENT SHALL HAVE ONE VOTE ON ANY MATTER AND EXCEPT AS OTHERWISE PROVIDED BY APPLICABLE LAW OR THESE BYLAWS, THE ACTION OF A MAJORITY OF EXECUTIVE COMMITTEE MEMBERS AT A MEETING SHALL BE THE ACT OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 ONEAZ CREDIT UNION IS OWNED BY THE MEMBERS WHO BANK WITH US. EACH MEMBER HOLDS ONE SHARE SAVINGS ACCOUNT WITH A MINIMUM DEPOSIT OF $5. PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS CONSISTS OF THOSE WHO LIVE, WORK, WORSHIP, OR GO TO SCHOOL IN ONE OF THE FIFTEEN ARIZONA COUNTIES. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD, OR ADOPTIVE RELATIVES OF EITHER OF THEM, AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE NOMIMATED FROM THE GENERAL MEMBERSHIP THROUGH THE FOLLOWING PROCESS: NOTICE OF THE ANNUAL ELECTION IS COMMUNICATED TO EACH MEMBER; INTERESTED MEMBERS SUBMIT AN APPLICATION; A BOARD APPOINTED NOMINATING COMMITTEE SCREENS AND INTERVEIWS CANDIDATES TO RECOMMEND FOR THE BALLOT; ELECTRONIC VOTING IS OPENED TO MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN ORGANIZATIONAL ITEMS, SUCH AS CHARTER, MERGER, OR BOARD GOVERNANCE ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B FILING OF FORM 990 HAS BEEN DELEGATED TO MANAGEMENT. AS SUCH, INPUTS ARE COMPILED BY ACCOUNTING AND HR STAFF; REVIEWED BY THE EVP CFO & COO AND PROVIDED TO OUR OUTSORCED ACCOUNTING FIRM FOR COMPLETION OF THE FORM 990. PRIOR TO FILING THE FINAL FORM 990, IT IS REVIEWED BY THE EVP CFO & COO AND SHARED WITH THE CEO. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION MONITORS AND ENSURES CONFLICT OF INTEREST COMPLIANCE THROUGH BOTH PREVENTATIVE AND DETECTIVE CONTROLS EMBEDED IN PROCEDURES SUCH AS HUMAN RESOURCES HIRING, THIRD-PARTY VENDOR MANAGEMENT AND LOAN APPLICATIONS AND UNDERWRITING PROCESSES. ANNUALLY A WRITTEN ACKNOWLEDGEMENT BY EACH ASSOCIATE AND VOLUNTEER DOCUMENTING THEIR UNDERSTANDING AND COMPLIANCE WITH THE CODE OF CONDUCT AND BUSINESS ETHICS POLICY IS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15 WE ENGAGE CREDIT UNION COMPENSATION EXPERTS TO DETERMINE SALARY RANGES AND MARKET PRICING FOR THE PHOENIX AREA FOR ALL EMPLOYEES, INCLUDING THE CEO AND EXECUTIVE OFFICERS. SALARY RANGES ARE REVIEWED EVERY YEAR TO ENSURE MARKET EQUITY IS IN LINE WITH OUR "TOTAL COMPENSATION" PHILOSOPHY. WE ALSO COMPLETE COMPENSATION SURVEYS WITH OTHER COMPENSATION ANALYSTS TO ENSURE A BROADER SAMPLING. THIRD-PARTY AND INDUSTRY EXPERT ANALYSIS AROUND SALARY AND COMPENSATION ARE PROVIDED TO THE BOARD BUDGET COMMITTEE AND THE BOARD COMPENSATION COMMITTEE. THESE TWO BOARD COMMITTEES MAKE RECOMMENDATIONS TO THE FULL BOARD FOR APPROVAL OF ACCEPTING THE RANGES PRESENTED BASED ON THE DATA, ENSURING COMPENSATION IS IN LINE WITH THE MARKET AND THE CREDIT UNION "TOTAL COMPENSATION" PHILOSOPHY. ALL DISCUSSIONS & DECISIONS ARE DOCUMENTED IN MEETING MINUTES. CEO COMPENSATION IS SET AND APPROVED BY THE COMPENSATION COMMITTEE AND BOARD OF DIRECTORS BASED ON THE THIRD-PARTY NATIONAL, REGIONAL AND LOCAL COMPENSATION DATA PROVIDING SALARY RANGES AND OTHER RELATIVE DATA POINTS AROUND TOTAL COMPENSATION AND BENEFITS OVERALL. EXECUTIVE OFFICER COMPENSATION IS DELEGATED FROM THE BOARD OF DIRECTORS TO THE CEO AND IS SET IN CONSULTATION WITH CHIEF ADMINISTRATION OFFICER BASED ON THIRD-PARTY NATIONAL, REGIONAL AND LOCAL COMPENSATION DATA PROVIDING SALARY RANGES AND OTHER RELATIVE DATA POINTS AROUND TOTAL COMPENSATION AND BENEFITS OVERALL AND THE BOARD'S APPROVAL OF THE ANNUAL OPERATING BUDGET. FORM 990, PART VI, SECTION C, LINE 19 REGULATORY FINANCIAL REPORTS PROVIDED BY NCUA.GOV ARE PROVIDED UPON REQUEST. THE CREDIT UNION ALSO POSTS A COPY OF THE MONTHLY STATEMENT OF FINANCIAL CONDITION IN ALL OF THE BRANCHES. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ADOPTION OF CECL METHODOLOGY -12,725,000. ARIZONA FINANCIAL NETWORK LLC 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 481267437 INSURANCE BROKERAGE AZ 0 2500 ONEAZ CREDIT UNION ONEAZ COMMUNITY FOUNDATION INC 2355 W PINNACLE PEAK RD PHOENIX AZ 85027 461959069 PHILANTRROPIC,EDUCATIONAL,CHARITABLE ACTIVITIES AIMED AT AZ COMMUNITIES AZ 501(C)(3) LINE 7 ONEAZ CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ONEAZ COMMUNITY FOUNDATION B 399412 CASH