2022-09-26T17:06:46-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2021-01-01 860108770 ONEAZ CREDIT UNION ONEA 6024674088 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 MICHAEL BODEN EVP CFO 6024674094 2022-09-23 1 MICHAEL BODEN 999009999 MARY C GREEN P00447183 6022662248 2022-09-23 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z RICHARD K REEDY 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 152517452 0 X WWW.ONEAZCU.COM X 1951 AZ A FINANCIAL COOPERATIVE PROVIDING MEMBERS WITH FINANCIAL SERVICES. 9 9 621 13 472720 0 0 0 91424130 92176215 12182602 11047984 2625683 2184991 106232415 105409190 380966 428383 5773426 3617367 42537862 45317311 0 0 0 89510512 43788976 138202766 93152037 -31970351 12257153 2608126699 3043080305 2401905346 2815949766 206221353 227130539 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 49155 0 621 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 6024674094 2355 W PINNACLE PEAK ROAD PHOENIX AZ 85027 MARTHA ROZEN CHAIRMAN 2.00 X X 33479 0 0 GEORGANNA MEYER SECRETARY 2.00 X X 26000 0 0 RAY O'CONNOR DIRECTOR 2.00 X 26988 0 0 MARQUETTA WHITE DIRECTOR 2.00 X 25378 0 0 SAM WHEELER DIRECTOR 2.00 X 25813 0 0 JOSEPH SMITH DIRECTOR 2.00 X 25099 0 0 FRANK FELIX DIRECTOR (THRU 5/21) 2.00 X 6102 0 0 JON BORGE VICE CHAIRMAN 2.00 X X 20000 0 0 RYAN WILLIAMS TREASURER 2.00 X X 20000 0 0 PEARLETTE RAMOS DIRECTOR 2.00 X 26000 0 0 RICHARD K REEDY CEO/PRESIDENT 40.00 2.00 X 533688 0 185459 MICHAEL BODEN EVP CFO 40.00 1.00 X 515927 0 183725 LAURA WORZELLA EVP COO 40.00 X 308537 0 133760 MICHAEL EMANUELLI EVP CHIEF ADMINISTRATION OFFICER 40.00 X 321749 0 22277 DEBORAH PEARSON EVP STRATEGY & BRAND 40.00 5.00 X 260202 0 119981 KEN BAUER EVP CLO 40.00 X 331132 0 5009 SASSAN AZHADI SVP CHIEF INFORMATION OFFICER 40.00 X 261561 0 77014 BRIAN JOHNSON SVP BUSINESS INTELLIGENCE 40.00 X 200833 0 3752 THOMAS MITCHELL VP WEALTH MANAGEMENT 40.00 X 241546 0 42045 ALEX MCELYEA SVP DATA ANALYTICS & PRODUCT MANAGER 40.00 X 209175 0 84558 BEAM CHIP GRIFFITH REGIONAL PRESIDENT II 40.00 X 241337 0 74423 IAN WINGFIELD DIGITAL BANKING VICE PRESIDENT 40.00 X 243898 0 77892 MICHAEL JESTER MORTGAGE ORGINATION SUPERVISOR 40.00 X 261144 0 181378 TORREY JEWETT FINANCIAL ADVISOR 40.00 X 254737 0 223826 MICHAEL SAMMONS FINANCIAL ADVISOR 40.00 X 275520 0 241704 4695845 0 1656803 80 0 1 0 DBSI INC 6950 W MORELOS PL CHANDLER AZ 85226 BRANCH DESIGN AND MAINTENANCE 4715389 PSCU 560 CARILLON PKWY ST PETERSBURG FL 33716 CREDIT & DEBIT CARD PROCESSING 3119161 GOOGLE PO BOX 39000 SAN FRANCISCO CA 94139 DIGITAL MARKETING 1837564 VISA USA INC PO BOX 8999 SAN FRANCISCO CA 94128 CREDIT & DEBIT CARD PROCESSING 1833951 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE AND MOBILE BANKING 1332852 73 INTEREST ON LOANS 522100 52404763 52404763 INTERCHANGE INCOME 522100 14444905 14444905 GAIN ON SALE OF LOANS 522100 9848464 9848464 FEES AND CHARGES 522100 8365807 7893087 472720 NSF FEE INCOME 522100 7112276 7112276 92176215 11036725 11036725 914209 29093 885116 885116 885116 44531078 2559350 44630161 2449008 -99083 110342 11259 11259 MISCELLANEOUS INCOME 900099 1299875 1299875 1299875 105409190 91703495 472720 13232975 X 428383 3617367 4518805 32167418 2789879 3409922 2431287 422025 137916 1958864 4286332 2544983 8672487 4953646 585043 900263 635207 3098100 CREDIT CARD EXPENSES 7452168 LOAN AND BANKING FEES 4880992 ONLINE BANKING EXPENSES 2452315 ATM EXPENSES 742640 65995 93152037 144123894 145363668 69000000 53500000 2219448 4185585 1302772412 1445863085 8397852 8102753 105494264 39282399 62431591 66211865 936239370 1236815152 38094809 41521257 44847323 41516940 2608126699 3043080305 10594614 15441454 56500000 2334810732 2800508312 2401905346 2815949766 X 0 0 0 0 206221353 227130539 206221353 227130539 2608126699 3043080305 X 12257153 -9324215 17976248 X 0 1 X 1 0 26373895 26373895 50861135 18835942 32025193 2541461 2447706 93755 21269957 17998751 3271206 4447816 4447816 66211865 MEMBERS' SHARE AND SAVINGS ACCOUNTS 2799730851 PENSION PLAN VALUATION 777461 2800508312 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE RESULTING IN NO TAXES PAID FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 ONEAZ COMMUNITY FOUNDATION 2355 W PINNACLE PEAK RD PHOENIX AZ 85027 461959069 501(C)(3) 290208 0 UNRESTRICTED LOCAL FIRST ARIZONA 407 E ROOSEVELT ST PHOENIX AZ 85004 202626253 501(C)(6) 55000 0 UNRESTRICTED MOUNTAIN WEST CREDIT UNION FOUNDATION 650 S CHERRY ST STE 920 DENVER CO 80246 742232424 501(C)(3) 15000 0 UNRESTRICTED STATE EMPLOYEE CHARITABLE CAMPAIGN 100 N 15TH AVE STE 401 PHOENIX AZ 85007 866004791 STATE OF ARIZONA 14000 0 UNRESTRICTED WORLD COUNCIL OF CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 391143339 501(C)(6) 10000 0 UNRESTRICTED ARIZONA STATE CAPITAL MUSEUM GUILD PO BOX 210026 TUCSON AZ 85721 860554728 501(C)(3) 10000 0 UNRESTRICTED ARIZONA HUMANE SOCIETY 1521 W DOBBINS RD PHOENIX AZ 85041 860135567 501(C)(3) 7500 0 UNRESTRICTED HABITAT FOR HUMANITY CENTRAL ARIZONA 2830 W GLENDALE AVE PHOENIX AZ 85051 742401708 501(C)(3) 6400 0 UNRESTRICTED 6 2 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 533688 0 0 0 0 0 169242 0 16217 0 719147 0 0 0 MICHAEL BODEN EVP CFO 332202 0 0 0 183725 0 127478 0 20321 0 663726 0 183725 0 KEN BAUER EVP CLO 326123 0 0 0 5009 0 107976 0 20294 0 459402 0 0 0 LAURA WORZELLA EVP COO 308537 0 0 0 0 0 113739 0 20021 0 442297 0 0 0 MICHAEL EMANUELLI EVP CHIEF ADMINISTRATION OFFICER 299472 0 0 0 22277 0 93445 0 11064 0 426258 0 0 0 DEBORAH PEARSON EVP STRATEGY & BRAND 260202 0 0 0 0 0 105317 0 14664 0 380183 0 0 0 SASSAN AZHADI SVP CHIEF INFORMATION OFFICER 261561 0 0 0 0 0 65187 0 11827 0 338575 0 0 0 MICHAEL SAMMONS FINANCIAL ADVISOR 33816 0 241704 0 0 0 16393 0 19596 0 311509 0 0 0 THOMAS MITCHELL VP WEALTH MANAGEMENT 199501 0 38408 0 3637 0 58129 0 1073 0 300748 0 0 0 ALEX MCELYEA SVP DATA ANALYTICS & PRODUCT MANAGER 209175 0 0 0 0 0 10370 0 74188 0 293733 0 0 0 MICHAEL JESTER MORTGAGE ORGINATION SUPERVISOR 79766 0 178206 0 3172 0 13170 0 13725 0 288039 0 0 0 IAN WINGFIELD DIGITAL BANKING VICE PRESIDENT 166006 0 77892 0 0 0 12221 0 19234 0 275353 0 0 0 TORREY JEWETT FINANCIAL ADVISOR 30911 0 223826 0 0 0 6499 0 13654 0 274890 0 0 0 BEAM CHIP GRIFFITH REGIONAL PRESIDENT II 166914 0 68064 0 6359 0 12146 0 16915 0 270398 0 0 0 BRIAN JOHNSON SVP BUSINESS INTELLIGENCE 197081 0 0 0 3752 0 43974 0 15070 0 259877 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 2021: MICHAEL BODEN - $183,725 THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS FROM THIS PLAN DURING 2021: RICHARD K. REEDY - $162,387 MICHAEL EMANUELLI - $81,977 MICHAEL BODEN - $92,378 DEBORAH PEARSON - $72,400 LAURA WORZELLA - $85,908 KEN BAUER - $90,909 SASSAN AZHADI - $29,397 BRIAN JOHNSON - $23,403, THOMAS MITCHELL - $27,292 PART II, COLUMN C: THE CREDIT UNION HAS A DEFINED BENEFIT PLAN AND THE ANNUAL INCREASE OR DECREASE IN ACTUARIAL VALUE HAS BEEN REPORTED IN COLUMN (C). 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 IX, LINE 24E FORECLOSED EXPENSES 65,995. FORM 990, PART XI, LINE 9: CHANGE IN DEFINED BENEFIT PENSION PLAN ASSETS 2,477,119. PROVISION FOR LOAN LOSSES 15,499,129. 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 10 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 290208 CASH