2023-08-11T12:12:39-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2022-01-01 866050959 TRUWEST CREDIT UNION TRUW 6026292062 1667 N PRIEST DRIVE TEMPE AZ 85288 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 6026292062 2023-08-08 1 MICHAEL WARD 999009999 0 MELISSA HANGSLEBEN P02087031 6022662248 2023-08-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ALAN ALTHOUSE 1667 N PRIEST DRIVE TEMPE AZ 85288 72242165 0 X WWW.TRUWEST.ORG X 1952 AZ A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 9 9 319 14 734689 0 0 0 60777303 61792162 3167365 9035128 84349 1414875 64029017 72242165 204784 252304 3184007 6734799 30160855 32402387 0 0 0 18732563 20911421 52282209 60300911 11746808 11941254 1519187668 1514781756 1375908211 1400355296 143279457 114426460 A COOPERATIVE PROVIDING TRUSTED FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 0 0 THE CREDIT UNION PROVIDES ITS MEMBER-OWNERS LOW COST FINANCIAL SERVICES INCLUDING FINANCIAL PLANNING. 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 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 22293 0 319 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 1 1 1 1 1 1 1 1 0 X MICHAEL WARD 6026292063 1667 N PRIEST DRIVE TEMPE AZ 85288 RICK O'CONNOR CHAIRMAN 5.00 X X 18742 0 0 SUSANNA DEFRANCO SECRETARY 1.00 X X 12217 0 0 MIKE MOULTON VICE CHAIRMAN 1.00 X X 11550 0 0 THOMAS CUMMISKEY DIRECTOR 1.00 X 12195 0 0 SCOTT JOHS TREASURER 1.50 X X 13050 0 0 TIM NIESZ DIRECTOR 1.00 X 9600 0 0 MIKE VASKO DIRECTOR 1.00 X 12075 0 0 DAVE HOLODY DIRECTOR 1.00 X 8850 0 0 JEFF HOMER DIRECTOR 1.00 X 11325 0 0 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 40.00 X 410062 0 136779 ALAN ALTHOUSE PRESIDENT & CEO 40.00 X 934746 0 180121 FRED FARBOD SVP CHIEF LENDING OFFICER 40.00 X 353115 0 145982 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 40.00 X 348255 0 127704 NIKKI BADJE SVP CHIEF HUMAN RESOURCES OFFICER 40.00 X 209242 0 21565 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 40.00 X 309699 0 120035 ALYSSE MEDINA SVP AND CHIEF LEGAL OFFICER 40.00 X 254842 0 109304 JENNIFER KIMMELL SVP CHIEF MARKETING OFFICER 40.00 X 243002 0 84397 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 40.00 X 376618 0 44307 BRENT CATTANI FINANCIAL ADVISOR II 40.00 X 464618 0 21151 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 40.00 X 493870 0 32129 KELLY ARGALL MORTGAGE LOAN OFFICER 40.00 X 484827 0 35660 DARREN KENNON MORTGAGE LOAN OFFICER 40.00 X 266709 0 46495 5259209 0 1105629 55 0 1 0 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 CREDIT & DEBIT CARD SERVICES 2578006 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ONLINE BANKING & ATM MAINTENANCE 2161249 FISERV PO BOX 208457 DALLAS TX 75320 CORE PROCESSING SYSTEM 649321 SENTINEL TECHNOLOGIES PO BOX 85080 CHICAGO IL 60680 VOICE & DATA HARDWARE MAINTENANCE 560164 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 DOCUMENT PRODUCTION 456364 28 LOAN INTEREST INCOME 522100 46980745 46980745 INTERCHANGE INCOME 522100 5934682 5934682 FEES AND CHARGES 522100 5564567 5418664 145903 WEALTH MANAGEMENT COMMISSIONS 522100 3103080 2514294 588786 COLLATERAL PROTECTION INSURANCE 522100 137090 137090 71998 71998 61792162 8998719 8998719 74805 74805 36409 0 36409 36409 36409 MISCELLANEOUS INCOME 522100 1340070 1340070 1340070 72242165 61057473 734689 10450003 229804 22500 6734799 4098452 22071309 1298915 3307361 1626350 645463 151227 5593761 1066031 531402 4765060 2562375 104765 235833 1466042 59365 OTHER STAFF EXPENSES 1169501 ACCOUNT PROCESSING 1134853 ATM SERVICE COSTS 909733 ASSOCIATION DUES 243658 272352 60300911 28028319 22907108 268837877 67714951 526275 295655 939151364 1156876530 4691052 5702691 31578818 19928163 12514909 11650655 226740006 202686217 10828763 12288788 27869103 34659161 1519187668 1514781756 11053779 13806365 1364854432 1386548931 1375908211 1400355296 X 0 0 0 0 143279457 114426460 143279457 114426460 1519187668 1514781756 X 11941254 -40684046 -110205 X 0 1 X 1 0 5587184 5587184 12523650 7640896 4882754 13425999 12287267 1138732 41985 41985 11650655 DEFERRED COMPENSATION LIABILITY 2039215 LEASE LIABILITY 4602587 MEMBER DEPOSIT ACCOUNTS 1379907129 1386548931 X 72242165 0 72242165 0 72242165 60410236 109325 109325 60300911 0 60300911 PART X, LINE 2: THE CREDIT UNION PAYS MOST TAXES, EXCEPT FOR FEDERAL AND STATE INCOME TAXES AS THEY ARE EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14). THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. 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 POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. THE CREDIT UNION'S 2019 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: CREDIT FOR LOAN LOSSES MOVED FROM EXPENSES TO PART XI OF THE FORM 990 109,325. 1 ALASKA USA FOUNDATION PO BOX 196613 ANCHORAGE AK 995196613 200286383 501(C)(3) 14000 0 N/A N/A UNRESTRICTED AMERICAN LUNG ASSOCIATION 102 W MCDOWELL RD PHOENIX AZ 85003 860111676 501(C)(3) 46530 0 N/A N/A UNRESTRICTED COLORADO FIRES - CANVAS FOUNDATION 9990 PARK MEADOWS DR LONE TREE CO 80124 811755475 501(C)(3) 12500 0 N/A N/A UNRESTRICTED COLORADO FIRES - ELEVATIONS FOUNDATION PO BOX 9004 BOULDER CO 80301 273484142 501(C)(3) 12500 0 N/A N/A UNRESTRICTED DELL CHILDREN'S MEDICAL CENTER FOUNDATION 4900 MUELLER BLVD AUSTIN TX 78723 200468031 501(C)(3) 9610 0 N/A N/A UNRESTRICTED MARICOPA COMMUNITY COLLEGES FOUNDATION 2419 W 14TH ST TEMPE AZ 852816942 860327449 501(C)(3) 40000 0 N/A N/A UNRESTRICTED MOUNTAIN WEST CREDIT UNION ASSOCIATION 2020 NORTH CENTRAL AVENUE SUITE 530 PHOENIX AZ 85004 840375111 501(C)(6) 8744 0 N/A N/A UNRESTRICTED PHOENIX CHILDREN'S HOSPITAL 2929 E CAMELBACK ROAD SUITE 122 PHOENIX AZ 850164425 860422559 501(C)(3) 60845 0 N/A N/A UNRESTRICTED 7 1 SCHOLARSHIPS 9 22500 0 N/A N/A PART I, LINE 2: THE CHECKS ARE ISSUED DIRECTLY TO THE ORGANIZATIONS AND TO THE INDIVIDUAL'S SCHOOL IN THE UNITED STATES. X X 1 1 X X X X 0 1 0 ALAN ALTHOUSE PRESIDENT & CEO 523861 0 96200 0 314685 0 161992 0 18129 0 1114867 0 305000 0 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 331688 0 63600 0 14774 0 118650 0 18129 0 546841 0 0 0 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 22512 0 470474 0 884 0 14755 0 17374 0 525999 0 0 0 KELLY ARGALL MORTGAGE LOAN OFFICER 22859 0 461576 0 392 0 19300 0 16360 0 520487 0 0 0 FRED FARBOD SVP CHIEF LENDING OFFICER 282404 0 54600 0 16111 0 124849 0 21133 0 499097 0 0 0 BRENT CATTANI FINANCIAL ADVISOR II 36363 0 427601 0 654 0 20750 0 401 0 485769 0 0 0 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 289267 0 55500 0 3488 0 103002 0 24702 0 475959 0 0 0 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 249545 0 47300 0 12854 0 101908 0 18127 0 429734 0 0 0 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 18393 0 345219 0 13006 0 19300 0 25007 0 420925 0 0 0 ALYSSE MEDINA SVP AND CHIEF LEGAL OFFICER 210628 0 39700 0 4514 0 92264 0 17040 0 364146 0 0 0 JENNIFER KIMMELL SVP CHIEF MARKETING OFFICER 202244 0 39900 0 858 0 58651 0 25746 0 327399 0 0 0 DARREN KENNON MORTGAGE LOAN OFFICER 36141 0 228024 0 2544 0 21392 0 25103 0 313204 0 0 0 NIKKI BADJE SVP CHIEF HUMAN RESOURCES OFFICER 201300 0 6093 0 1849 0 12571 0 8994 0 230807 0 0 0 PART I, LINE 4B DEFERRED COMPENSATION PLAN [SECTION 457(F)] - THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF EXECUTIVE MANAGEMENT. THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS TO THE PLAN DURING CALENDAR 2022. ALAN ALTHOUSE, PRESIDENT & CEO - $139,792 GARY BERNARD, CHIEF OPERATING OFFICER - $95,000 FRED FARBOD, CHIEF LENDING OFFICER - $102,649 CHRIS KEARNEY, CHIEF INFORMATION OFFICER - $83,702 MICHAEL WARD, CHIEF FINANCIAL OFFICER - $83,779 ALYSSE MEDINA, CHIEF LEGAL OFFICER - $77,226 JENNIFER KIMMELL, CHIEF MARKETING OFFICER - $40,838 THE FOLLOWING EMPLOYEE HAD A DISTRIBUTION FROM THE 457(F) PLAN DURING 2022: ALAN ALTHOUSE - $305,000 FORM 990, PART VI, SECTION A, LINE 1A THE CREDIT UNION HAS AN EXECUTIVE COMMITTEE THAT HAS BEEN GIVEN AUTHORITY TO MAKE VARIOUS DECISION ON BEHALF OF THE GOVERNING BODY, SUCH AS COMPENSATION AND 457F PLAN CONTRIBUTION AND DISTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 6 PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THIS GENERALLY CONSISTS OF THOSE WHO LIVE, ATTEND SCHOOL, OR WORK IN MARICOPA, PINAL, YAVAPAI, AND PIMA COUNTIES IN ARIZONA, THOSE WHO LIVE OR WORK IN TRAVIS AND WILLIAMSON COUNTIES IN TEXAS, AND THOSE WHO ARE MEMBERS OF AN APPROVED COMMON BOND INTEREST GROUP. 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 MEMBERS OF THE CREDIT UNION ELECT THE GOVERNING BODY OF THE INSTITUTION. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS SUCH AS MERGERS AND CONVERSIONS TO A DIFFERENT CHARTER TYPE REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE EXECUTIVE COMMITTEE FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. THE BOARD IS THEN GIVEN A COPY OF THE RETURN FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION REGULARLY MONITORS AND REVIEWS ACTIVITY OF THE ENTITY FOR POTENTIAL CONFLICTS. FOR EXAMPLE, ALL LOANS TO MEMBERS OF THE BOARD OF DIRECTORS ARE UNDERWRITTEN BY STAFF USING STANDARD UNDERWRITING GUIDELINES FOR ALL MEMBERS, WITH THE SAME RATES AND TERMS AVAILABLE TO ALL MEMBERS, AND THEN REPORTED TO AND RATIFIED BY THE FULL BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED DURING 2022. FORM 990, PART VI, SECTION B, LINE 15 HRN PERFORMANCE SOLUTIONS IS A THIRD PARTY COMPANY THAT SPECIALIZES IN COMPENSATION. HRN GATHERS DATA FROM 700 CREDIT UNIONS ACROSS THE UNITED STATES AND DEVELOPS THE CREDIT UNIONS SALARY RANGES BASED ON COMPARABLE ASSET SIZE AND GEOGRAPHICAL LOCATION. THE CREDIT UNION ALSO UTILIZES CUES SALARY SURVEY AND CUNA EXECUTIVE COMPENSATION SURVEY TO REVIEW THE CEO'S COMPENSATION. THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. ONCE A DECISION IS MADE, THE CHAIRMAN OF THE BOARD EMAILS THE SENIOR VICE PRESIDENT OF HUMAN RESOURCES WITH THE DECISION. ADDITIONALLY, EVERY JUNE, HRN'S COMPENSATION ANALYSTS REVIEW EACH SENIOR LEADERS JOB DESCRIPTION TO ENSURE THEIR ROLES ARE GRADED PROPERLY COMPARED TO THE MARKET. IF ADDITIONAL INCREASES NEED TO OCCUR, THE CEO MAY BUDGET FOR ADDITIONAL INCREASES. EACH SENIOR LEADER RECEIVES AN ANNUAL MERIT INCREASE BASED ON THE PREVIOUS YEAR-END PERFORMANCE REVIEW. ALL INCREASES ARE ADDED TO THE FINAL BUDGET AND REVIEWED AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S MONTHLY FINANCIAL STATEMENTS ARE DISPLAYED AT ALL THE BRANCH LOCATIONS. THE AUDITED FINANCIALS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN MEMBERSHIP SHARES -880. PROVISION FOR LOAN LOSSES -109,325.