2020-11-11T16:44:24-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2019-01-01 840500890 PREMIER MEMBERS CREDIT UNION PREM 3036577592 5505 ARAPAHOE AVENUE BOULDER CO 80303 CARLOS PACHECO CEO 3036577592 2020-11-11 1 MARY C GREEN P00447183 6022662248 2020-11-11 67.137.57.251 2020-11-11 10:00:18 MS P 94307BE716D664C10DC46CE445DCF2BF31E531AB B3FE2AC44A9104C09797594EEDA9FB00E2903852 2019 2021-04-22 16:20:28Z CARLOS PACHECO 5505 ARAPAHOE AVENUE BOULDER CO 80303 60832236 0 X WWW.PMCU.ORG X 1950 CO TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. 14 14 338 5 52674 8322 0 0 51328548 54013550 4156667 5180573 1294785 1597890 56780000 60792013 0 0 6798833 9209174 18800078 21159131 0 0 0 19419944 20575048 45018855 50943353 11761145 9848660 1134091474 1241180693 1004796579 1099294078 129294895 141886615 TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND MAKE LOANS FROM THESE SHARES TO ITS MEMBERS. 0 0 PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OF THE CREDIT UNION. OVER 72,000 MEMBERS SERVED. 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 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 37333 0 338 1 1 1 0 0 0 0 0 0 0 X 14 14 1 0 1 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X MARK WIETE 3036577000 5505 ARAPAHOE AVENUE BOULDER CO 80303 CARLOS PACHECO CEO/PRESIDENT 40.00 X 999408 0 259686 MARK WIETE CHIEF FINANCIAL OFFICER 40.00 X 732250 0 45150 BRIAN RESCH CHIEF ADMINISTRATION OFFICER 40.00 X 248113 0 43434 JEREMY MOYER MORTGAGE LOAN SALES MANAGER 40.00 X 255492 0 27858 LINDSAY SANDHAM CHIEF LENDING OFFICER 40.00 X 227699 0 33425 MATT RARDEN CHIEF OPERATING OFFICER 40.00 X 226595 0 27968 MARK ROWAN CHIEF INFORMATION OFFICER 40.00 X 199654 0 31133 MIRYAM CASTRO MORTGAGE LOAN OFFICER 40.00 X 205814 0 19593 JASON BAUER CHIEF MARKETING OFFICER 40.00 X 173476 0 37508 CLAIRE LINDLEY VP FINANCE 40.00 X 160606 0 22533 RYAN CYNOSKI MORTGAGE LOAN OFFICER 40.00 X 156997 0 13679 MICHAEL CLARK MORTGAGE LOAN OFFICER 40.00 X 151928 0 16327 MARK GISI CHAIR PERSON 2.00 X X 18750 0 0 LYNEL VALLIER VICE CHAIRPERSON 2.00 X X 18375 0 0 HARVEY A KAMIONKA TREASURER 2.00 X X 18000 0 0 JIM CLEMMER CO-TREASURER 2.00 X X 18000 0 0 MICHAEL MEYERS SECRETARY 2.00 X X 18000 0 0 KEN BLACK CO-SECRETARY 2.00 X X 18000 0 0 JIM ELLIS DIRECTOR 2.00 X 18000 0 0 BRIAN GISI DIRECTOR 2.00 X 18000 0 0 ELAINE HUTCHINGS DIRECTOR 2.00 X 18000 0 0 PETER JANSKY DIRECTOR 2.00 X 18000 0 0 HARVEY E KAMIONKA DIRECTOR 2.00 X 18000 0 0 WAYNE TURNACLIFF DIRECTOR 2.00 X 18000 0 0 JOANNE TILLEY DIRECTOR 2.00 X 18000 0 0 JANET BEAVER DIRECTOR 2.00 X 18000 0 0 3991157 0 578294 26 0 1 0 THE NEENAN COMPANY 3225 S TIMBERLINE STE 100 FORT COLLINS CO 80525 BRANCH CONSTRUCTION 1864697 EXPLORE COMMUNICATIONS 3213 ZUNI ST DENVER CO 80211 MARKETING 1253660 JACK HENRY & ASSOCIATES PO BOX 609 MONETT CO 65708 TECHNOLOGY 883090 FISERV PO BOX 208457 DALLAS TX 753208457 TECHNOLOGY 734447 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742233 FINANCIAL SERVICES 693388 31 INTEREST ON LOANS FROM MEMBERS 522100 43125695 43125695 FEES AND CHARGES 522100 4512938 4460264 52674 INTERCHANGE INCOME 522100 4034322 4034322 SERVICING FEES 522100 2340595 2340595 54013550 4200373 4200373 384366 40223 344143 344143 344143 980200 0 980200 980200 980200 CUOLI GAIN 522100 510119 510119 CUNA INCOME 522100 108004 108004 CUSO INCOME 900099 71115 71115 564509 564509 1253747 60792013 53960876 52674 6778463 X 9209174 3326927 13558368 674495 2292815 1306526 82758 198470 295667 2586052 3488272 2177109 481475 143311 2719292 122035 PROVISION FOR LOAN LOSS 3455237 LOAN AND DEPOSIT SERVIC 1370089 ONLINE BANKING EXPENSES 826364 CREDIT AND DEBIT CARD E 779675 1849242 50943353 4831666 4359899 82093185 122027013 5124506 5654167 898202290 908273547 700476 827659 41593066 9925788 17025456 31667278 70156331 106070987 6049897 6530885 6835513 5756221 43072154 50013037 1134091474 1241180693 14839790 16629673 30000000 989956789 1052664405 1004796579 1099294078 X 0 0 0 0 129294895 141886615 129294895 141886615 1134091474 1241180693 X 9848660 2142642 600418 X X 0 1 X 1 0 9175188 9175188 24928186 5060238 19867948 7093163 4865550 2227613 396529 396529 31667278 MEMBERS' SHARE AND SAVINGS ACCOUNT 1052664405 1052664405 X PART X, LINE 2: THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2019 AND 2018. X 1 1 X X X X 0 1 0 CARLOS PACHECO CEO/PRESIDENT 499408 0 0 0 500000 0 224196 0 35490 0 1259094 0 500000 0 MARK WIETE CHIEF FINANCIAL OFFICER 257840 0 44801 0 429609 0 11446 0 33704 0 777400 0 0 0 BRIAN RESCH CHIEF ADMINISTRATION OFFICER 210429 0 37684 0 0 0 10588 0 32846 0 291547 0 0 0 JEREMY MOYER MORTGAGE LOAN SALES MANAGER 71606 0 183886 0 0 0 10048 0 17810 0 283350 0 0 0 LINDSAY SANDHAM CHIEF LENDING OFFICER 193297 0 34402 0 0 0 8403 0 25022 0 261124 0 0 0 MATT RARDEN CHIEF OPERATING OFFICER 192181 0 34414 0 0 0 9516 0 18452 0 254563 0 0 0 MARK ROWAN CHIEF INFORMATION OFFICER 168335 0 31319 0 0 0 8537 0 22596 0 230787 0 0 0 MIRYAM CASTRO MORTGAGE LOAN OFFICER 43038 0 162776 0 0 0 5305 0 14288 0 225407 0 0 0 JASON BAUER CHIEF MARKETING OFFICER 146021 0 27455 0 0 0 7259 0 30249 0 210984 0 0 0 CLAIRE LINDLEY VP FINANCE 144272 0 16334 0 0 0 7198 0 15335 0 183139 0 0 0 RYAN CYNOSKI MORTGAGE LOAN OFFICER 15985 0 141012 0 0 0 0 0 13679 0 170676 0 0 0 MICHAEL CLARK MORTGAGE LOAN OFFICER 31336 0 120592 0 0 0 7576 0 8751 0 168255 0 0 0 PART I, LINE 1A THE CREDIT UNION WILL PAY FOR COMPANION TRAVEL FOR MEMBERS OF MANAGEMENT. THE COMPENSATION IS INCLUDED IN THE EMPLOYEE'S W-2. PART I, LINE 4B THE CREDIT UNION HAS A 457 F NONQUALIFIED DEFERRED COMPENSATION PLAN FOR CARLOS PACHECO. UNDER THE TERMS OF THE PLANS, THE PARTICIPANT IS ENTITLED TO THE EARNINGS AND APPRECIATION ON THE DEFERRED COMPENSATION PLAN INVESTMENTS. THERE WAS A CONTRIBUTION OF $211,696 TO THE 457F PLAN AND A DISTRIBUTION OF $500,000 TO CARLOS PACHECO IN 2019. SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS MADE NON-RECOURSE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO A MEMBER OF MANAGEMENT. THE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF THE RESPECTIVE LIFE INSURANCE POLICIES. THE POLICIES ARE OWNED BY THE EXECUTIVE AND THEY HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. AT THE TIME OF RETIREMENT, THE LOAN BECOMES DUE AND PAYABLE AND CAN BE PAID WITH THE CASH VALUE OF THE LIFE INSURANCE POLICIES, OR WITH OTHER PERSONAL FUNDS AT THE EXECUTIVE'S DISCRETION. BRIAN RESCH CAO HELOC X 200000 193217 0 0 1 BRIAN RESCH CAO FIRST MORTGAGE X 308000 185493 0 0 1 CARLOS PACHECO CEO FIRST MORTGAGE X 608000 476744 0 1 1 JASON BAUER CMO FIRST MORTGAGE X 441000 433762 0 0 1 LINDSAY SANDHAM CLO NEW AUTO X 31174 14766 0 0 1 LINDSAY SANDHAM CLO FIRST MORTGAGE X 280000 260066 0 0 1 LINDSAY SANDHAM CLO FIRST MORTGAGE X 225001 176163 0 0 1 LINDSAY SANDHAM CLO USED AUTO X 22250 6872 0 0 1 MARK WIETE CFO HELOC X 95000 93450 0 0 1 MARK WIETE CFO USED AUTO X 42092 20020 0 0 1 MARK WIETE CFO CREDIT CARD X 20000 17583 0 0 1 MARK WIETE CFO FIRST MORTGAGE X 400000 376862 0 0 1 MATT RARDEN COO FIRST MORTGAGE X 440000 435690 0 0 1 MATT RARDEN COO CREDIT CARD X 25000 15181 0 0 1 MATT RARDEN COO USED AUTO X 36000 11998 0 0 1 MATT RARDEN COO HELOC X 200000 113500 0 0 1 RICK ALLEN FORMER PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 2822800 2822800 0 0 1 5654167 FORM 990, PART VI, SECTION A, LINE 2 MARK GISI, CHAIR PERSON OF THE BOARD OF DIRECTORS, AND BRIAN GISI, BOARD OF DIRECTOR-MEMBER, HAVE A FAMILY RELATIONSHIP. HARVEY A. KAMIONKA, TREASURER OF THE BOARD OF DIRECTORS, AND HARVEY E. KAMIONKA, BOARD OF DIRECTOR-MEMBER, ALSO HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED DURING CALENDAR 2019 TO INCLUDE FIELD OF MEMBERSHIPS WITHIN COLORADO. 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 OR WORK IN BOULDER, BROOMFIELD, LARIMER, WELD, JEFFERSON, ADAMS, DENVER, DOUGLAS, ARAPAHOE, EL PASO, PUEBLO, AND ELBERT COUNTIES IN COLORADO; THOSE WHO LIVE OR WORK IN THE TOWN OF ESTES PARK, THE TOWN OF GLEN HAVEN, OR THE TOWN OF DRAKE IN COLORADO; THOSE WHO ARE A MEMBER OF AN APPROVED EMPLOYEE, STUDENT, AND VOLUNTEER GROUPS; THOSE WHO CONTRIBUTE TO SELECT CHARITABLE ORGANIZATIONS; AND THOSE WHO ARE MEMBERS OF AN APPROVED COMMON BOND INTEREST GROUP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, INDIVIDUALS THAT ARE RELATED BY BLOOD, MARRIAGE, OR ADOPTION TO AN ELIGIBLE PERSON ARE ALSO ELIGIBLE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CREDIT UNION ANNUALLY ELECT THE BOARD OF DIRECTORS TO SERVE MULTIPLE-YEAR TERMS BY MAILING IN BALLOTS OR VOTING AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B VARIOUS DECISIONS MADE BY THE BOARD OF DIRECTORS FOR A CREDIT UNION ARE SUBJECT TO APPROVAL BY THE MEMBERS OF THE CREDIT UNION AS SET FORTH IN NCUA RULES AND REGULATIONS AND APPLICABLE STATE REGULATIONS. FORM 990, PART VI, SECTION A, LINE 8B THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED BY THE CEO AND THE CHIEF FINANCIAL OFFICER PRIOR TO FILING. THE BOARD OF DIRECTORS RECEIVE A COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT THE TIME OF HIRE AND AT LEAST ONCE EACH YEAR, ALL EMPLOYEES ARE ASKED TO COMPLETE A WRITTEN ACKNOWLEDGMENT TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. CREDIT UNION VOLUNTEERS ARE SIMILARILY REQUESTED TO DISCLOSE ANY SUCH CONFLICTS OF INTEREST UPON TAKING OFFICE. THE BOARD OF DIRECTORS REVIEWS THE CODE OF CONDUCT POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 FOR THE CEO POSITION, THE BOARD CHAIRPERSON ANNUALLY CONDUCTS RESEARCH ON EXECUTIVE COMPENSATION, UTILIZING INDUSTRY DATA FROM ORGANIZATIONS SUCH AS CUES AND D. HILTON. THE BOARD APPROVES THE RECOMMENDED COMPENSATION STRUCTURE FOR THE CEO POSITION. FOR TOP MANAGEMENT COMPENSATION, THE CREDIT UNION UTILIZED BALANCEDCOMP AS AN INDEPENDENT COMPENSATION CONSULTANT, AND ALSO VALIDATES BALANCEDCOMP'S DATA AGAINST INDUSTRY SURVEYS SUCH AS CUES. THIS IS DOCUMENTED IN THE CEO'S PERSONNEL FILE. AS STATED ABOVE, FOR TOP MANAGEMENT COMPENSATION, THE CREDIT UNION UTILIZED BALANCEDCOMP AS AN INDEPENDENT COMPENSATION CONSULTANT, AND ALSO VALIDATES BALANCEDCOMP'S DATA AGAINST INDUSTRY SURVEYS SUCH AS CUES. THE TOP OFFICIALS OR ANYONE ELSE WHO REPORTS TO THE CEO HAS AN ANNUAL EVALATION PERFORMED BY THE CEO. THIS ALSO DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE CREDIT UNION. MONTHLY FINANCIAL STATEMENTS ARE AVAILABLE AND ARE ON DISPLAY AT THE CREDIT UNION. QUARTERLY FINANCIAL DATA IS ACCESSIBLE TO THE PUBLIC AT WWW.NCUA.GOV. FORM 990, PART IX, LINE 24E MISCELLANEOUS 762,574. COOP NETWORK FEES 739,495. SHARED BRANCHING EXPENSES 347,173. FORM 990, PART XI, LINE 9: DEFERRAL COMPENSATION CHANGE 600,418. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FOOTHILLS FINANCIAL SERVICES INC 5505 ARAPAHOE AVENUE BOULDER CO 80303 840571011 INVESTMENT SERVICES CO PREMIER MEMBERS CREDIT UNION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0