2024-11-15T13:32:32-06:00 2023-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1400 PORTLAND OR 97205 990 2023-01-01 880063808 GREATER NEVADA CREDIT UNION GREA 7758822060 PO BOX 2128 CARSON CITY NV 89702 RICK HASSMAN CHIEF FINANCIAL OFFICER 7758861329 2024-11-14 1 0 WENDY CAMPOS P00448102 5032421447 2024-11-14 2023 2024-10-15 13:58:12Z DANIEL DELAROSA PO BOX 2128 CARSON CITY NV 89702 99936814 0 X WWW.GNCU.ORG X 1949 NV TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS. 7 7 490 14 1513152 290791 0 0 74163508 86590511 6698041 9915407 737130 154780 81598679 96660698 953899 837340 0 0 27373931 27538772 0 0 0 50333366 86625403 78661196 115001515 2937483 -18340817 1767200524 1756847081 1649750780 1656061217 117449744 100785864 TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS. 0 0 FINANCIAL SERVICES - BANKING ACTIVITIES, INCLUDING LOANS AND DEPOSITS. TOTAL MEMBERSHIP TO THE CREDIT UNION GREW TO 88,042 IN 2023, AN INCREASE OF 2,669 FOR THE YEAR. DURING 2023, THE CREDIT UNION AND ITS AFFILIATES FUNDED $188,912,941 MILLION IN CONSUMER LOANS. MORTGAGE SERVICES - ORIGINATING, SELLING, AND SERVICING OF REAL ESTATE MORTGAGES. DURING 2023, THE CREDIT UNION FUNDED $107,576,685 MILLION IN MORTGAGE LOANS. COMMERCIAL LENDING - ORIGINATING, SELLING, AND SERVICING OF COMMERCIAL LOANS. DURING 2023, THE CREDIT UNION FUNDED $4,950,000 MILLION IN COMMERCIAL LOANS. 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 1 0 0 0 0 1 1 1 1 0 1 34592 0 1 490 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 0 0 1 1 1 0 0 CA X RICK HASSMAN 7758861459 451 EAGLE STATION LANE CARSON CITY NV 89701 DANIEL DELAROSA PRESIDENT/CEO (AS OF 03/23) 40.00 0.00 X 361097 0 43966 DOREEN AMADOR VP OF COMMERCIAL PRODUCTION 40.00 0.00 X 346060 0 24558 JEREMY GILPIN PRESIDENT, GCL 0.00 40.00 X 0 336202 32070 MICHAEL DIETRICH CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 311099 0 21997 RICHARD HASSMAN CHIEF FINANCIAL OFFICER 40.00 0.00 X 280504 0 37021 JAMES ANDERSON PRESIDENT, GNM 40.00 0.00 X 249331 0 42548 MICHAEL THOMAS SENIOR VP OF COMMUNICATIONS 40.00 0.00 X 250133 0 33638 MARCUS WERTZ CHIEF LENDING OFFICER 40.00 0.00 X 258631 0 24215 NICHOLAS ROSIVAL - SENIOR VP OF INFRASTRUCTURE & PLATFORMS 40.00 0.00 X 224848 0 36581 MELISSA MARTINEZ VICE PRESIDENT OF LENDING 40.00 0.00 X 224794 0 36316 JEN TREADWAY CHIEF PEOPLE OFFICER 40.00 0.00 X 229645 0 23144 PATRICIA CHANG SENIOR VP OF RISK 40.00 0.00 X 231303 0 18908 LISA SEISENNOP VP OF DIVERSIFIED ASSETS 40.00 0.00 X 224377 0 19805 JOYCE WHITNEY-SILVA - FORMER CHIEF FINANCIAL OFFICER (THRU 10/22) 40.00 0.00 X 152387 0 26930 WALLACE MURRAY PRESIDENT/CEO (THRU 03/23) 40.00 0.00 X 138138 0 10771 ROB JOINER CHAIR 8.00 0.00 X X 10500 0 0 PAUL RICHEY DIRECTOR 4.00 0.00 X 5768 0 0 MARSHA BURGESS DIRECTOR 4.00 0.00 X 5614 0 0 WILLIAM ARENSDORF VICE CHAIR 6.00 0.00 X X 4140 0 0 ALEX TALMANT DIRECTOR (THRU 03/23) 4.00 0.00 X 1474 0 0 TRAVIS LEE TREASURER 4.00 0.00 X X 0 0 0 JON STEELE SECRETARY 4.00 0.00 X X 0 0 0 BARBARA BYINGTON DIRECTOR 4.00 0.00 X 0 0 0 3509843 336202 432468 54 1 1 0 FISERV PO BOX 80123 CITY OF INDUSTRY CA 91716 CORE PROCESSOR SERVICES 4742868 Q2 SOFTWARE 10355 PECAN PARK BOULEVARD SUITE 1 AUSTIN NV 78729 ONLINE BANKING SOFTWARE 1796235 COOK SOLUTIONS 9225 NE CASCADES PARKWAY PORTLAND GA 97220 ATM/ITM SUPPORT AND REPAIRS 1234519 SHAHEEN BEAUCHAMP BUILDERS 318 N CARSON STREET SUITE 202 CARSON CITY TX 89701 CONSTRUCTION 1026360 MAYNARD NEXSEN PO BOX 11407 BIRMINGHAM CO 35246 LEGAL SERVICES 843142 78 INTEREST - MEMBER LOAN 522100 59809930 59809930 FEES & SERVICE CHARGES 522100 12518706 12518706 INTERCHANGE INCOME 522100 8628958 8628958 SERVICING FEES 522100 1566027 1566027 GAIN ON SALE OF LOANS 522100 1441860 1441860 2625030 1663079 961951 86590511 9476680 551201 8925479 609233 454453 154780 154780 154780 3260390 2821663 438727 438727 438727 96660698 85628560 1513152 9518986 X 773340 64000 2711648 179317 18879949 604851 3298742 1864265 644854 196795 127523 3564590 4970137 3341401 2890762 3018718 541396 345035 21750378 4651914 171865 LOAN LOSS PROVISION 13313753 OTHER OPERATING EXPENSE 10778005 PROCESSING COSTS 5627046 LOAN SERVICING 4829366 5861865 115001515 49708920 42871676 83171301 55074390 2250000 1590546 1233111222 1292262194 2322505 4983451 91195047 40715571 51216260 50479476 232376518 207639712 6832079 7159079 4334378 2410526 2440171 2363171 99437170 90012860 1767200524 1756847081 17369933 13176410 85422458 420131 1546958389 1642464676 1649750780 1656061217 X 0 0 0 0 117449744 100785864 117449744 100785864 1767200524 1756847081 X -18340817 4752401 -3075464 X 0 1 X 1 0 1 3457983 89659546 89128518 3989011 0 9113671 9113671 46930202 14514638 32415564 3638482 2934042 704440 30975672 22998474 7977198 537020 268417 268603 50479476 LOANS HELD FOR SALE 11756162 ACCRUED INTEREST RECEIVABLE 8443777 NCUSIF DEPOSIT 14024164 MORTGAGE SERVICING RIGHTS 5179347 CREDIT UNION OWNED LIFE INSURANCE PLANS 10337423 OTHER ASSETS 32050141 RIGHT-OF-USE ASSETS 8221846 90012860 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1634028994 LEASE LIABILITY 8435682 1642464676 PART IV, LINE 1B: BORROWER PAYMENTS FOR PRINCIPAL, INTEREST, TAXES AND INSURANCE. 1 EDUCATION ALLIANCE OF WASHOE COUNTY 425 EAST NINTH STREET A-122 RENO NV 89502 943177739 501(C)(3) 10500 0 PROGRAM TO ASSIST TEACHERS IN WASHOE COUNTY SCHOOL DISTRICT FOOD BANK OF NORTHERN NEVADA 550 ITALY DRIVE SPARKS NV 89501 942924979 501(C)(3) 11000 0 NORTHERN NEVADA'S LARGEST FOOD INSECURITY NON-PROFIT, SERVING THOSE IN NEED THROUGH MORE THAN 150 PARTNER AGENCIES AND DIRECT SERVICE PROGRAMS GIRL SCOUTS OF THE SIERRA NEVADA 605 WASHINGTON STREET RENO CA 92612 880060580 501(C)(3) 7000 0 EMPOWERING UNDERSERVED YOUNG GIRLS WITH A FREE OPPORTUNITY TO BECOME A GIRL SCOUT THROUGH OUTREACH PROGRAM THAT IS EMPLOYEE LEAD NEVADA WOMEN'S FUND 770 SMITHRIDGE DRIVE SUITE 300 RENO NV 89502 942860375 501(C)(3) 5650 0 EMPOWERING WOMEN TO ACHIEVEMENT THROUGH EDUCATION AND CAREER ADVANCEMENT CHANNEL 5 PUBLIC BROADCASTING INC 1670 NORTH VIRGINIA STREET RENO NV 89437 880172215 501(C)(3) 20000 0 PBS RENO PROVIDES TRUSTWORTHY AND ACCESSIBLE QUALITY CONTENT AND EDUCATIONAL SERVICES RENOWN HEALTH FOUNDATION 1155 MILL STREET O2 RENO NV 89502 942972749 501(C)(3) 50600 0 SUPPORT FOR THE CHILDREN'S HOSPITAL RONALD MCDONALD HOUSE CHARITIES NORTHERN NEVADA INC 323 MAINE STREET RENO CA 94523 942863819 501(C)(3) 8000 0 A NONPROFIT FAMILY AND CHILDREN'S CHARITY DEDICATED TO SUPPORTING FAMILIES WITH SICK CHILDREN IN THEIR TIME OF NEED SPECIAL OLYMPICS NEVADA 4000 S EASTERN AVENUE SUITE 320 LAS VEGAS NV 89451 932574727 501(C)(3) 45833 0 SPORTS EVENTS FOR PEOPLE WITH DISABILITIES THE EDDY HOUSE 888 WILLOW STREET RENO NV 89523 453023511 501(C)(3) 5420 0 PROGRAM HELPS HOMELESS TEENS WITH FOOD AND SHELTER THE GAME ROOM - TEDXRENO 3005 ROXBURY DRIVE RENO CA 95834 873140632 501(C)(3) 5490 0 PROGRAM TO BRING NEW IDEAS TO THE COMMUNITY UNIVERSITY OF NEVADA RENO FOUNDATION 1664 N VIRGINIA STREET RENO NV 89557 942781749 501(C)(3) 212500 0 PROGRAMS FOCUSED ON SUPPORTING MUSIC PROGRAMS, FOOD INSECURITY, FINANCIAL EDUCATION, AND IMPROVING EDUCATIONAL ATTAINMENT FOR STUDENTS AT THE UNIVERSITY WESTERN NEVADA COLLEGE FOUNDATION 2201 WEST COLLEGE PARKWAY BRISTLECONE BLDG 147 CARSON CITY NV 89703 880283783 501(C)(3) 6525 0 PROGRAMS FOR STUDENT SCHOLARS AND EDUCATION WOLF PACK SPORTS PROPERTIES LLC PO BOX 843256 KANSAS CITY NV 89512 470911648 51809 0 MARKETING AND DONATING TO THE ATHLETICS DEPARTMENT 13 1 SCHOLARSHIPS 64 64000 PART I, LINE 2: THE GRANTS MADE ARE CONSIDERED CHARITABLE DONATIONS AND DO NOT REQUIRE FORMAL MONITORING OR REPORTING. PART III: SCHOLARSHIPS ARE DISBURSED DIRECTLY TO INDIVIDUALS AND THE BOARD OF DIRECTORS HAS A SCHOLARSHIP COMMITTEE THAT OVERSEES AND IS ENGAGED IN THE RECIPIENT SELECTION, DISTRIBUTION OF THE SCHOLARSHIPS AND REDIRECTION OF ANY SCHOLARSHIPS TO ALTERNATE WINNERS IF THE ORIGINAL WINNER DIDN'T UTILIZE THE SCHOLARSHIP. X X X 0 0 0 DANIEL DELAROSA PRESIDENT/CEO (AS OF 03/23) 326097 0 35000 0 0 0 14850 0 29116 0 405063 0 0 0 DOREEN AMADOR VP OF COMMERCIAL PRODUCTION 199991 0 146069 0 0 0 14850 0 9708 0 370618 0 0 0 JEREMY GILPIN PRESIDENT, GCL 0 331202 0 5000 0 0 0 14850 0 17220 0 368272 0 0 MICHAEL DIETRICH CHIEF TECHNOLOGY OFFICER 275099 0 36000 0 0 0 9124 0 12873 0 333096 0 0 0 RICHARD HASSMAN CHIEF FINANCIAL OFFICER 245504 0 35000 0 0 0 8261 0 28760 0 317525 0 0 0 JAMES ANDERSON PRESIDENT, GNM 239331 0 10000 0 0 0 11220 0 31328 0 291879 0 0 0 MICHAEL THOMAS SENIOR VP OF COMMUNICATIONS 224133 0 26000 0 0 0 10236 0 23402 0 283771 0 0 0 MARCUS WERTZ CHIEF LENDING OFFICER 223631 0 35000 0 0 0 6995 0 17220 0 282846 0 0 0 NICHOLAS ROSIVAL - SENIOR VP OF INFRASTRUCTURE & PLATFORMS 206348 0 18500 0 0 0 6745 0 29836 0 261429 0 0 0 MELISSA MARTINEZ VICE PRESIDENT OF LENDING 210044 0 14750 0 0 0 7200 0 29116 0 261110 0 0 0 JEN TREADWAY CHIEF PEOPLE OFFICER 212345 0 17300 0 0 0 9631 0 13513 0 252789 0 0 0 PATRICIA CHANG SENIOR VP OF RISK 205303 0 26000 0 0 0 9252 0 9656 0 250211 0 0 0 LISA SEISENNOP VP OF DIVERSIFIED ASSETS 211683 0 12694 0 0 0 10097 0 9708 0 244182 0 0 0 JOYCE WHITNEY-SILVA - FORMER CHIEF FINANCIAL OFFICER (THRU 10/22) 147162 0 5225 0 0 0 6561 0 20369 0 179317 0 0 0 HARDAWAY CAPITAL GROUP LLC CONTROLLED ENTITY OF KEY EMPLOYEE PURCHASE OF 25% INTEREST IN GREATER NEVADA COMMERCIAL LENDING, LLC X 2500000 1500000 0 1 1 DANIEL DELAROSA OFFICER BELOW-MARKET RATE INTEREST LOAN X 31547 18469 0 1 1 RICHARD HASSMAN OFFICER BELOW-MARKET RATE INTEREST LOAN X 60698 61074 0 1 1 MICHAEL THOMAS KEY EMPLOYEE BELOW-MARKET RATE INTEREST LOAN X 23960 11003 0 1 1 1590546 HARDAWAY CAPITAL GROUP LLC CONTROLLED ENTITY OF KEY EMPLOYEE OF GNCU 831545 PAYMENT ON NOTE AND INTEREST TO GNCU 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS ONE CLASS OF MEMBER, WHICH ARE: (I) SHAREHOLDERS OF THE CREDIT UNION WHO LIVE OR WORK IN THE FOLLOWING NEVADA COUNTIES: CARSON CITY, CHURCHILL, CLARK, DOUGLAS, ELKO, ESMERALDA, EUREKA, HUMBOLDT, LANDER, LINCOLN, LYON, MINERAL, NYE, PERSHING, STOREY, WASHOE, WHITE PINE; (II) SPOUSES OF PERSONS WHO DIED WHILE WITHIN THE FIELD OF MEMBERSHIP OF THIS CREDIT UNION; (III) EMPLOYEES OF THIS CREDIT UNION; (IV) PERSONS RETIRED AS PENSIONERS OR ANNUITANTS FROM THE ABOVE EMPLOYMENT; AND (V) MEMBERS OF THEIR IMMEDIATE FAMILIES. MEMBERS DO NOT RECEIVE SHARES OF PROFIT OTHER THAN THROUGH SHARE ACCOUNT DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A FOR EACH VACANCY OF THE BOARD OF DIRECTORS, THE NOMINATING COMMITTEE FILES NOMINATIONS WITH THE SECRETARY OF THE CREDIT UNION AT LEAST 90 DAYS PRIOR TO THE ANNUAL MEETING. NOMINATIONS FOR VACANCIES MAY ALSO BE MADE BY MEMBERS OF THE ORGANIZATION VIA PETITION SIGNED BY 500 MEMBERS OR ONE PERCENT (1%) OF THE MEMBERSHIP ELIGIBLE TO VOTE AT MEETINGS OF THE MEMBERS, WHICHEVER IS SMALLER. SHOULD THERE BE A CONTESTED ELECTION, THE ELECTION IS THEN DETERMINED BY PLURALITY VOTE OPEN TO ALL MEMBERS OF THE ORGANIZATION ELIGIBLE TO VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT IN CONJUNCTION WITH THE ORGANIZATION'S CFO AND THE VP OF ACCOUNTING AND FINANCE. THE CFO, WHO IS A MEMBER OF THE EXECUTIVE MANAGEMENT TEAM, THEN REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT/CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPENSATION SURVEY DATA OBTAINED FROM OUTSIDE CONSULTANTS IS UTILIZED TO DETERMINE APPROPRIATE SALARY AND BENEFIT LEVELS FOR THE PRESIDENT/CEO. THE BOARD HAS ENGAGED WITH A THIRD PARTY FIRM FOR CEO PERFORMANCE REVIEW AND COMPENSATION ANALYSIS SINCE SEPTEMBER 2023. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES WAS DETERMINED USING COMPARABILITY DATA. THIS WAS REVIEWED AND APPROVED BY THE CEO AND CHIEFS. DOCUMENTATION WAS ONLY NEEDED FOR ANYTHING OVER MIDPOINT. THIS PROCESS WAS LAST COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S ANNUAL REPORT IS POSTED ON GREATER NEVADA CREDIT UNION'S WEBSITE AND AVAILABLE TO MEMBERS AT THE ANNUAL MEETING. INTERNAL FINANCIALS ARE PUBLISHED MONTHLY IN EACH OF OUR BRANCHES. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E LICENSES AND FEES 2,687,463. DIGIT BANKING 1,367,219. REBATES 1,321,239. COLLECTION EXPENSES 485,944. FORM 990, PART XI, LINE 9: CHANGE IN INVESTMENT IN GCL 1,473,792. IMPACT OF ADOPTION OF ASU 2016-13 -3,998,055. UBI REPORTED ON PARTNERSHIP SCHEDULE K-1 -551,201. GREATER NEVADA LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 880500878 MORTGAGE SERVICES NV 5037547 25765728 GREATER NEVADA CREDIT UNION GREATER NEVADA FINANCIAL GROUP LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 811825547 INSURANCE PRODUCTS NV 396649 627003 GREATER NEVADA CREDIT UNION GREATER NEVADA COMMERCIAL LENDING LLC 5190 NEIL ROAD SUITE 205 RENO NV 89523 821499653 COMMERCIAL LENDING NV GREATER NEVADA CREDIT UNION RELATED 1004742 9799220 0 551201 1 0.75000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 GREATER NEVADA COMMERCIAL LENDING LLC Q 391924 COST GREATER NEVADA COMMERCIAL LENDING LLC S 2250000 CASH TRANSFERRED GREATER NEVADA COMMERCIAL LENDING LLC O 388444 COST