2022-11-10T11:15:26-06:00 2021-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2021-01-01 840146595 BELLCO CREDIT UNION BELL 3036897800 7600 E ORCHARD ROAD 400N GREENWOOD VILLAGE CO 80111 DANIEL KAMPEN EVP/CFO 3036897800 2022-11-03 1 DANIEL KAMPEN 999009999 JOHN J MURNANE JR P03021572 3052328272 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DOUGLAS A FERRARO 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 301156218 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 10 326 11 563260 0 0 0 227244007 226020340 10812760 6468004 4512095 597019 242568862 233085363 0 0 0 0 37685601 44064779 0 0 0 193058494 124603445 230744095 168668224 11824767 64417139 5518860512 6160459649 4981937035 5565676325 536923477 594783324 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 200642 0 1 326 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 35500 0 0 SANDRA BLODGETT SUPERVISORY COMMITTEE CHAI 2.00 X 0 0 0 LAURA SONDERUP BOD/V. CHAIR 5.00 X 40000 0 0 STEVEN ANGELIER BOD/CHAIRMAN 5.00 X 50000 0 0 WALKER FLEMING BOD/DIRECTOR 4.00 X 40000 0 0 DOUGLAS FERRARO BOD MEMBER/PRESIDENT/CEO 40.00 X X 18787941 0 42044 ANDREW MURRAY BOD MEMBER/DIRECTOR 4.00 X 40000 0 0 MARK D GOODMAN BOD MEMBER/DIRECTOR 4.00 X 40000 0 0 DAVID POWERS BOD MEMBER 4.00 X 31000 0 0 MARIA ALEJANDRA SPRAY SUPERVISORY 2.00 X 40000 0 0 C DAVID KIKUMOTO BOD MEMBER/ SECRETARY/TREA 5.00 X 40000 0 0 JAMES WINFIELD SUPERVISORY 2.00 X 0 0 0 PETE KIRCHHOF BOD MEMBER 4.00 X 0 0 0 JOHN M RUBY SVP/CLO 40.00 X 372390 0 63365 DANIEL KAMPEN EVP/CFO 40.00 X 780599 0 540175 JOHN RIVERA SVP/CHIEF RETAIL OFFICER 40.00 X 503493 0 126802 LEEANN DOWNEY SVP/CHIEF ADM. OFFICER 40.00 X 1393833 0 56215 JACK PARGEON SVP/ FINANCE 40.00 X 303406 0 340558 LEE STEVEN SVP/CLO 40.00 X 160268 0 20262 REBECCA STEMBEL SVP/CMEO 40.00 X 220235 0 37657 CARRIE FREDENBURG SVP/CHRO 40.00 X 214531 0 28428 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDIN 40.00 X 1483541 0 34220 GREG LUNDSTROM COMMERCIAL BUSINESS LENDIN 40.00 X 1144548 0 34370 JUAN CARLOS CAMPOS DIRECTOR- GENERAL COUNSEL/ 40.00 X 257096 0 36114 SUSAN RICE VP OF BUSINESS SERVICES 40.00 X 226082 0 25752 TIM BILLINGS VP TREASURY & ANALYTICS 40.00 X 226624 0 24342 26431087 0 1410304 52 0 1 0 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT 1989440 UNICO LAIRD NORTON JV TWO LLC 1215 FOURTH AVE STE 600 SEATTLE WA 98161 BUILDING MANAGEMENT 1846883 VISA 900 METRO CENTER BLVD FOSTER CITY CA 94404 DEBIT PROCESSING 1757984 STANDARD REGISTER INC DBA TAYLOR COMMUNI PO BOX 840655 DALLAS TX 75284 SUPPLY CHAIN RESOURCES 1462067 FISERV INC PO BOX 208457 DALLAS TX 75320 FINANCIAL SERVICES 1428379 76 INCOME ON LOANS 522100 180534177 180534177 FEES/CHARGES/OTHER 522100 44922903 44922903 FINANCE & INSURANCE 520000 563260 563260 226020340 7093504 7093504 66904066 541289 67536855 534000 -632789 7289 -625500 -625500 OTHER NON-OPERATING INCOME 522100 592443 592443 MORTGAGE SERVICING RIGHTS CAPITAL 522100 4576 4576 597019 233085363 232522103 563260 0 X 9783010 21002342 8414529 2803850 2061048 23077352 5920172 584868 815632 5630663 6094787 11749730 5425981 78757 67776 26262283 4423808 199841 ATM/CREDIT CARD 10480004 PROVISION FOR LOAN LOSS 9429849 LOAN SERVICING 9224687 MISCELLANEOUS 2325161 2812094 168668224 881498999 593852000 161857087 186657 7420255 4714978 3245620 3673043 3887904284 4886469452 2720949 2255641 94942642 60963545 34588286 33979097 354814086 386047265 16602759 54079865 168208187 195201651 5518860512 6160459649 63630188 69812573 50000000 300000000 4868306847 5195863752 4981937035 5565676325 X 0 0 0 0 536923477 594783324 536923477 594783324 5518860512 6160459649 64417139 -6557292 0 X X 0 1 X 1 0 14523798 14523798 24396587 12596353 11800234 10850350 8138432 2711918 33170105 28860744 4309361 12001802 11368016 633786 33979097 SHARES 1270078643 SHARE DRAFTS 1333990208 MONEY MARKET 1550344472 CERTIFICATES 863493589 IRA ACCOUNTS 177956840 5195863752 X 233073498 0 233073498 11865 11865 233085363 168656359 -11865 -11865 168668224 0 168668224 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 2020, 2019, AND 2018 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: GAINS ON LOANS AND CAPITALIZATION OF MORTGAGE SERVICING RIGHTS REPORTED IN THE STATEMENT OF REVENUE IN FORM 990 BUT REPORTED IN EXPENSES AS PART OF NET LOSSES IN THE STATEMENT OF INCOME IN THE AUDITED FINANCIAL STATEMENTS. 11,865. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAINS ON LOANS AND CAPITALIZATION OF MORTGAGE SERVICING RIGHTS REPORTED IN THE STATEMENT OF REVENUE IN FORM 990 BUT REPORTED IN EXPENSES AS PART OF NET LOSSES IN THE STATEMENT OF INCOME IN THE AUDITED FINANCIAL STATEMENTS. -11,865. X X X X 1 1 X X X X 0 1 0 DOUGLAS FERRARO BOD MEMBER/PRESIDENT/CEO 869688 0 267500 0 17650753 0 30700 0 11344 0 18829985 0 13767369 0 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDIN 136401 0 1345152 0 1988 0 23200 0 11020 0 1517761 0 0 0 LEEANN DOWNEY SVP/CHIEF ADM. OFFICER 334170 0 59663 0 1000000 0 39015 0 17200 0 1450048 0 798323 0 DANIEL KAMPEN EVP/CFO 623145 0 150000 0 7454 0 530187 0 9988 0 1320774 0 0 0 GREG LUNDSTROM COMMERCIAL BUSINESS LENDIN 136587 0 1007509 0 452 0 23200 0 11170 0 1178918 0 0 0 JACK PARGEON SVP/ FINANCE 264534 0 36100 0 2772 0 334009 0 6549 0 643964 0 0 0 JOHN RIVERA SVP/CHIEF RETAIL OFFICER 306398 0 192592 0 4503 0 110290 0 16512 0 630295 0 0 0 JOHN M RUBY SVP/CLO 314080 0 55538 0 2772 0 38844 0 24521 0 435755 0 0 0 JUAN CARLOS CAMPOS DIRECTOR- GENERAL COUNSEL/ 237530 0 18600 0 966 0 20833 0 15281 0 293210 0 0 0 REBECCA STEMBEL SVP/CMEO 193093 0 26600 0 542 0 20991 0 16666 0 257892 0 0 0 SUSAN RICE VP OF BUSINESS SERVICES 206039 0 19100 0 943 0 17916 0 7836 0 251834 0 0 0 TIM BILLINGS VP TREASURY & ANALYTICS 200254 0 24600 0 1770 0 16414 0 7928 0 250966 0 0 0 CARRIE FREDENBURG SVP/CHRO 194604 0 19600 0 327 0 20156 0 8272 0 242959 0 0 0 LEE STEVEN SVP/CLO 159266 0 600 0 402 0 14132 0 6130 0 180530 0 0 0 PART I, LINE 4B DOUGLAS FERRARO, JOHN M. RUBY, LEEANN DOWNEY, DAN KAMPEN, JACK PARGEON, AND JOHN RIVERA PARTICIPATE IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. DURING 2021, THE FOLLOWING PARTICIPANTS RECEIVED BENEFIT PAYOUTS: DOUGLAS FERRARO: $17,650,753 LEEANN DOWNEY: $1,000,000 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDING MORTGAGE LOAN X 336000 268782 0 0 1 GREG LUNDSTROM COMMERCIAL BUSINESS LENDING MORTGAGE LOAN X 412750 288747 0 0 1 JOHN RIVERA SVP/CHIEF RETAIL OFFICER MORTGAGE LOAN X 376000 327804 0 0 1 JUAN CARLOS CAMPOS DIRECTOR GENERAL COUNSEL/COMPLIANCE MORTGAGE LOAN X 210000 148991 0 0 1 TIM BILLINGS VP TREASURY & ANALYTICS MORTGAGE LOAN X 334500 314772 0 0 1 JACK PARGEON SVP FINANCE FIXED CHOICE LOC X 331735 309824 0 0 1 ARTHUR DOUG KEARBEY VP BUSINESS TECHNOLOGY MORTGAGE LOAN X 244000 207595 0 0 1 JUAN CARLOS CAMPOS DIRECTOR GENERAL COUNSEL/COMPLIANCE FIXED CHOICE LOC X 19674 2444 0 0 1 DANIEL KAMPEN EVP/CFO FIXED CHOICE LOC X 684250 684250 0 0 1 JACK PARGEON SVP FINANCE MORTGAGE LOAN X 531000 531000 0 0 1 SUSAN RICE VP OF BUSINESS SERVICES MORTGAGE LOAN X 846400 588834 0 0 1 3673043 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 815,632. FORM 990, PART IX, LINE 24E TELEPHONE AND POSTAGE 2,080,944. ASSOCIATION DUES 465,922. STATIONERY AND SUPPLIES 265,228. 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 749081 ACTUAL CASH CONTRIBUTION