2023-09-07T08:50:04-05:00 2022-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2022-01-01 840146595 BELLCO CREDIT UNION BELL 3036897800 7600 E ORCHARD ROAD 400N GREENWOOD VILLAGE CO 80111 DANIEL KAMPEN EVP/CFO 3036897800 2023-09-02 1 DANIEL KAMPEN 999009999 0 JOHN J MURNANE JR P03021572 3052328272 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DOUGLAS A FERRARO 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 287274084 0 1948 X WWW.BELLCO.ORG X 1936 CO BELLCO IS A PROGRESSIVE, MEMBER-OWNED ORGANIZATION THAT PROVIDES COMPETITIVE FINANCIAL SERVICES TO MEET EVOLVING MEMBER NEEDS. WE WILL SUSTAIN PLANNED GROWTH TO FUND THE FUTURE WHILE MAINTAINING MEMBER CONFIDENCE THROUGH FINANCIAL STABILITY. WE WILL PROVIDE A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND CONTRIBUTE TO THE SOCIAL AND ECONOMIC WELL BEING OF OUR COMMUNITY. 11 10 337 11 641811 0 0 0 226020340 271245768 6468004 15721907 597019 2526 233085363 286970201 0 0 0 0 44064779 47406456 0 0 0 124603445 152937826 168668224 200344282 64417139 86625919 6160459649 7362214487 5565676325 6711454808 594783324 650759679 X BELLCO IS A PROGRESSIVE, MEMBER-OWNED ORGANIZATION THAT PROVIDES COMPETITIVE FINANCIAL SERVICES TO MEET EVOLVING MEMBER NEEDS. WE WILL SUSTAIN PLANNED GROWTH TO FUND THE FUTURE WHILE MAINTAINING MEMBER CONFIDENCE THROUGH FINANCIAL STABILITY. WE WILL PROVIDE A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND CONTRIBUTE TO THE SOCIAL AND ECONOMIC WELL BEING OF OUR COMMUNITY. 0 0 INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 212613 0 1 337 1 1 1 0 0 0 0 0 1 0 X 11 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 CO X DAN KAMPEN 3036897800 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 JANE PRANCAN BOD MEMBER/ DIRECTOR 5.00 X 42250 0 0 LAURA SONDERUP BOD/V. CHAIR 5.00 X 42250 0 0 STEVEN ANGELIER BOD/CHAIRMAN 5.00 X 59750 0 0 WALKER FLEMING BOD/DIRECTOR 4.00 X 42250 0 0 DOUGLAS FERRARO BOD MEMBER/PRESIDENT/CEO 40.00 X X 1630478 0 52551 ANDREW MURRAY BOD MEMBER/DIRECTOR 4.00 X 42250 0 0 MARK D GOODMAN BOD MEMBER/DIRECTOR 4.00 X 42250 0 0 DAVID POWERS BOD MEMBER 4.00 X 42250 0 0 MARIA ALEJANDRA SPRAY SUPERVISORY 2.00 X 42250 0 0 C DAVID KIKUMOTO BOD MEMBER/ SECRETARY/TREA 5.00 X 42250 0 0 PETE KIRCHHOF BOD MEMBER 4.00 X 42250 0 0 DANIEL KAMPEN EVP/CFO 40.00 X 3551250 0 336131 JOHN RIVERA SVP/CRO 40.00 X 321295 0 217058 JUAN CARLOS CAMPOS VP GENERAL COUNSEL/COMPLIANCE OFFICER 40.00 X 323913 0 41130 JACK PARGEON SVP-FINANCE 40.00 X 419374 0 238593 STEVEN LEE SVP-CHIEF LENDING OFFICER 40.00 X 418596 0 31649 REBECCA STEMBEL SVP-CMEO 40.00 X 310863 0 165064 CARRIE FREDENBURG SVP-CHRO 40.00 X 300468 0 150858 SUSAN RICE SVP-COMMERCIAL LENDING 40.00 X 277193 0 31283 ALVIN MCCARTHY COMMERCIAL BUSINESS OFFICER III 40.00 X 2720747 0 49827 GREG LUNDSTROM COMMERCIAL BUSINESS OFFICER III 40.00 X 1928712 0 38476 LEEANN DOWNEY SVP/CAO 40.00 X 249697 0 43481 JOHN M RUBY SVP/CLO 40.00 X 295244 0 57646 TIM BILLINGS VP TREASURY & ANALYTICS 40.00 X 275743 0 27320 13463573 0 1481067 64 0 1 0 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT 3250467 FISERV INC PO BOX 208457 DALLAS TX 75320 FINANCIAL SERVICE TECHNOLOGY 2719966 NEWGROUND INTERNATIONAL INC PO BOX 6228 CAROL STREAM IL 60197 BRANCH DESIGN SERVICES 2277109 STANDARD REGISTER INC DBA TAYLOR COMMUNI PO BOX 840655 DALLAS TX 75284 STATEMEMENT PROCESSING 1780677 LAND TITLE GUARANTEE CO 3033 E 1ST AVE SUITE 600 DENVER CO 80206 TITLE AGENCY SERVICES 1728314 74 INCOME ON LOANS 522100 231583805 231583805 FEES/CHARGES/OTHER 522100 39020152 39020152 FINANCE & INSURANCE 520000 641811 641811 271245768 15727236 15727236 298554 303883 -5329 -5329 -5329 MORTGAGE SERVICING RIG 522100 2526 2526 2526 286970201 286328390 641811 0 X 7279224 26247156 8375553 3260172 2244351 27165501 416543 571555 1005344 7853330 5632243 14770949 5459155 202005 102985 44491610 4075239 221490 PROVISION FOR LOAN LOSS 13523284 ATM/CREDIT CARD 12230208 LOAN SERVICING 10178965 TELEPHONE AND POSTAGE 2213342 2824078 200344282 593852000 582506850 186657 198231 4714978 2165089 3673043 4328953 4886469452 6053118133 2255641 3764138 102617420 63598624 33979097 39018796 386047265 366617646 54079865 76047618 195201651 234449033 6160459649 7362214487 69812573 94946588 300000000 750000000 5195863752 5866508220 5565676325 6711454808 X 0 0 0 0 594783324 650759679 594783324 650759679 6160459649 7362214487 86625919 -30649564 0 X X 0 1 X 1 0 21629661 21629661 24479463 13437532 11041931 11648509 9448626 2199883 33719690 29802048 3917642 11140097 10910418 229679 39018796 SHARES 1531867028 SHARE DRAFTS 1355214525 MONEY MARKET 1291963127 CERTIFICATES 1511937552 IRA ACCOUNTS 175525988 5866508220 X 286973004 0 286973004 -2803 -2803 286970201 200347085 2803 2803 200344282 0 200344282 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN IRC SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2021, 2020, AND 2019 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS). THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSSES ON LOANS SOLD AND CAPITALIZATION OF MORTGAGE SERVICING RIGHTS REPORTED ON THE STATEMENT OF REVENUE WITHIN FORM 990 BUT REPORTED AS EXPENSES ON THE STATEMENT OF INCOME WITHIN THE AUDITED FINANCIAL STATEMENTS. -2,803. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSSES ON LOANS SOLD AND CAPITALIZATION OF MORTGAGE SERVICING RIGHTS REPORTED ON THE STATEMENT OF REVENUE WITHIN FORM 990 BUT REPORTED AS EXPENSES ON THE STATEMENT OF INCOME WITHIN THE AUDITED FINANCIAL STATEMENTS. 2,803. X X X X 1 1 X X X X 1 1 0 DANIEL KAMPEN EVP/CFO 642096 0 401700 0 2507454 0 324400 0 11731 0 3887381 0 1978523 0 ALVIN MCCARTHY COMMERCIAL BUSINESS OFFICER III 136386 0 2582373 0 1988 0 35688 0 14139 0 2770574 0 0 0 GREG LUNDSTROM COMMERCIAL BUSINESS OFFICER III 133578 0 1794682 0 452 0 24337 0 14139 0 1967188 0 0 0 DOUGLAS FERRARO BOD MEMBER/PRESIDENT/CEO 891543 0 551200 0 187735 0 31900 0 20651 0 1683029 0 0 0 JACK PARGEON SVP-FINANCE 293352 0 123250 0 2772 0 231684 0 6909 0 657967 0 0 0 JOHN RIVERA SVP/CRO 312792 0 4000 0 4503 0 198437 0 18621 0 538353 0 0 0 REBECCA STEMBEL SVP-CMEO 256233 0 54000 0 630 0 137275 0 27789 0 475927 0 0 0 CARRIE FREDENBURG SVP-CHRO 246090 0 54000 0 378 0 136495 0 14363 0 451326 0 0 0 STEVEN LEE SVP-CHIEF LENDING OFFICER 222114 0 42100 0 154382 0 10920 0 20729 0 450245 0 0 0 JUAN CARLOS CAMPOS VP GENERAL COUNSEL/COMPLIANCE OFFICE 269847 0 53100 0 966 0 25139 0 15991 0 365043 0 0 0 JOHN M RUBY SVP/CLO 151735 0 138175 0 5334 0 30007 0 27639 0 352890 0 0 0 SUSAN RICE SVP-COMMERCIAL LENDING 229227 0 47000 0 966 0 22206 0 9077 0 308476 0 0 0 TIM BILLINGS VP TREASURY & ANALYTICS 219937 0 54000 0 1806 0 18393 0 8927 0 303063 0 0 0 LEEANN DOWNEY SVP/CAO 98675 0 148250 0 2772 0 24860 0 18621 0 293178 0 0 0 PART I, LINES 4A-B STEVEN LEE: $153,750. DOUGLAS FERRARO, JOHN M. RUBY, LEEANN DOWNEY, DAN KAMPEN, JACK PARGEON, AND JOHN RIVERA PARTICIPATE IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. DURING 2022, THE FOLLOWING PARTICIPANT RECEIVED A BENEFIT PAYOUT: DAN KAMPEN: $2,500,000 GREG LUNDSTROM COMMERCIAL BUSINESS OFFICER MORTGAGE LOAN X 412750 280059 0 0 1 JOHN RIVERA CHIEF RETAIL OFFICER MORTGAGE LOAN X 376000 302975 0 0 1 JUAN CARLOS CAMPOS GENERAL COUNSEL/COMPLIANCE OFFICER MORTGAGE LOAN X 210000 140178 0 0 1 JACK PARGEON SVP FINANCE FIXED CHOICE LOC X 331735 296837 0 0 1 DANIEL KAMPEN EVP/CFO FIXED CHOICE LOC X 684250 393470 0 0 1 JACK PARGEON SVP FINANCE MORTGAGE LOAN X 531000 495584 0 0 1 SUSAN RICE SVP COMMERCIAL LENDING MORTGAGE LOAN X 846400 574831 0 0 1 JOHN RIVERA CHIEF RETAIL OFFICER FIXED CHOICE LOC X 35001 33217 0 0 1 JACK PARGEON SVP FINANCE AUTO LOAN X 45422 37414 0 0 1 TIM BILLINGS VP TREASURY & ANALYTICS AUTO LOAN X 34550 29537 0 0 1 SUSAN RICE SVP COMMERCIAL LENDING AUTO LOAN X 34938 26673 0 0 1 JOHN RUBY SVP MORTGAGE LOAN X 400000 396670 0 0 1 JENNA MCFARLANE VP MARKETING MORTGAGE LOAN X 600000 598452 0 0 1 JENNA MCFARLANE VP MARKETING AUTO LOAN X 68784 68784 0 0 1 STACIE ZIDAN VP RETAIL DELIVERY MORTGAGE LOAN X 675000 644970 0 0 1 STACIE ZIDAN VP RETAIL DELIVERY VARIABLE LOC X 100000 9302 0 0 1 4328953 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE SENIOR DIRECTOR AND ASSISTANT CONTROLLER IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. UPON COMPLETION, THE RETURN IS REVIEWED BY EXECUTIVE MANAGEMENT AND THE PRESIDENT/CEO, ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEWS AND ANY NECESSARY CORRECTIONS ARE MADE, THE RETURN IS FILED. THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C HUMAN RESOURCES IS NOTIFIED BY RISK MANAGEMENT AND OTHERS ABOUT POTENTIAL CODE OF ETHICS VIOLATIONS WHICH THEY FULLY INVESTIGATE. A DECISION IS THEN MADE CONCERNING THE ACTIONS THAT SHOULD BE TAKEN FOR THE VIOLATION. FORM 990, PART VI, SECTION B, LINE 15 MARKET DATA IS PREPARED BY THE CHIEF ADMINISTRATIVE OFFICER FOR ALL EXECUTIVE POSITIONS. SUBSTANTIATION OF THE DECISION IS GIVEN IN WRITTEN PERFORMANCE EVALUATIONS FOR ALL EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G PROFESSIONAL & OUTSIDE SERVICES 1,005,344. FORM 990, PART IX, LINE 24E MISCELLANEOUS 1,990,471. ASSOCIATION DUES 481,800. STATIONERY AND SUPPLIES 351,807. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. BELLCO FOUNDATION 7600 E ORCHARD ROAD GREENWOOD VILLAGE CO 80111 474045582 TO FURTHER BELLCO CREDIT UNION'S CHARITABLE ACTIVITIES CO 501(C)(3) PF BELLCO CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BELLCO FOUNDATION B 490851 ACTUAL CASH CONTRIBUTION