2019-10-10T11:47:34-05:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2018-01-01 866050959 TRUWEST CREDIT UNION TRUW 6026292062 1667 N PRIEST DRIVE TEMPE AZ 85281 MICHAEL WARD SR VP & CFO 6026292062 2019-10-09 1 MARY C GREEN P00447183 6022662248 67.137.57.251 2019-10-09 11:16:15 US P FD94BE241EB30D59D427851B854338419E5FBD2E C886C6DF3866C97A155E85B4DBD95EC73AF8A20D 2018 2019-02-21 02:37:17Z ALAN ALTHOUSE 1667 N PRIEST DRIVE TEMPE AZ 85281 62840459 0 X WWW.TRUWEST.ORG X 1952 AZ A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 9 9 300 14 192775 0 0 0 52548296 59871610 3994477 2768117 273496 160258 56816269 62799985 17500 20000 2212332 4293355 21902414 24153035 0 0 0 27864986 26206208 51997232 54672598 4819037 8127387 1030167948 1152658837 923462437 1038562326 106705511 114096511 X A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS. 1 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 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 24015 0 300 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 85281 THOMAS CUMMISKEY CHAIRMAN 20.00 X X 14475 0 0 RICK O'CONNOR VICE CHAIRMAN 4.00 X X 10225 0 0 SCOTT JOHS TREASURER 6.00 X X 11100 0 0 MIKE VASCO SECRETARY 4.00 X X 7800 0 0 JEFF HOMER DIRECTOR 4.00 X 7425 0 0 JEFFREY MYERS DIRECTOR (RESIGNED 4/18) 4.00 X 1800 0 0 DAVID PRECHTEL DIRECTOR 4.00 X 7875 0 0 TIM NIESZ DIRECTOR 4.00 X 10350 0 0 MIKE MOULTON DIRECTOR 4.00 X 9000 0 0 DAVE HOLODY DIRECTOR 4.00 X 5625 0 0 ALAN ALTHOUSE PRESIDENT & CEO 40.00 X 413341 0 144460 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 40.00 X 482614 0 169410 FRED FARBOD SVP CHIEF LENDING OFFICER 40.00 X 266008 0 125086 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 40.00 X 229792 0 114485 JEFF PEABODY SVP CHIEF MARKETING OFFICER 40.00 X 229503 0 87971 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 40.00 X 179447 0 24883 BRENT CATTANI FINANCIAL ADVISOR II 40.00 X 301983 0 37299 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 40.00 X 346589 0 37175 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 40.00 X 230402 0 27346 EDWARD M PORTNOFF MORTGAGE LOAN OFFICER 40.00 X 310446 0 27070 KELLY ARGALL MORTGAGE LOAN OFFICER 40.00 X 239316 0 27304 3315116 0 822489 32 0 1 0 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 CREDIT & DEBIT CARD SERVICES 1599482 ACKER ADVERTISING LLC 4960 S GILBERT RD STE 1-523 CHANDLER AZ 85249 ADVERTISING FOR MARKETING 721525 FISERV 19935 E WALNUT DR N WALNUT CA 91789 CORE PROCESSING SYSTEM 634964 NEXTNET PARTNERS LLC 7855 SOUTH RIVER PARKWAY STE 121 TEMPE AZ 85248 NETWORK HARDWARE & PROFESSIONAL SERVICES 532043 APPRAISAL TEK 4115 E VALLEY AUTO DRIVE SUITE 106 MESA AZ 85206 LOAN APPRAISALS 335120 26 LOAN INTEREST INCOME 522100 44187605 44187605 FEES AND CHARGES 522100 12955883 12763108 192775 WEALTH MANAGEMENT COMMISSIONS 522100 2100126 2100126 SHARE INSURANCE DISTRIBUTION INCO 522100 611475 611475 CREDIT LIFE AND DISABILITY INCOME 522100 16521 16521 59871610 2798591 2798591 61463 61463 10000 40474 -30474 -30474 -30474 98795 98795 98795 62799985 59678835 192775 2928375 X 20000 4293355 2552675 17632346 406371 2261042 1300601 492212 51799 5494540 1685641 629311 3894218 2813688 116481 271438 843315 1899710 98620 PROVISION FOR LOAN LOSS 3759972 ACCOUNT PROCESSING 1270801 ATM SERVICE COSTS 1118918 OTHER STAFF EXPENSES 931557 833987 54672598 9437655 11622424 48325199 61052195 895676936 1013244201 3140480 3170799 38366689 18536411 20996864 19830278 7425085 3856792 10524459 7172455 34641270 32709693 1030167948 1152658837 16123099 13242557 907339338 1025319769 923462437 1038562326 X 0 0 0 0 106705511 114096511 106705511 114096511 1030167948 1152658837 X 8127387 -674409 -61978 X 0 1 X 1 0 10200730 10200730 12168338 5954585 6213753 15724246 12581826 3142420 273375 273375 19830278 DEFERRED COMPENSATION LIABILITY 2537539 MEMBER DEPOSIT ACCOUNTS 1022782230 1025319769 X 62738007 -61978 -61978 62799985 0 62799985 54672598 0 54672598 0 54672598 PART X, LINE 2: THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2018 AND 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF DEFERRED COMPENSATION ASSETS -61,978. 1 SCHOLARSHIP 8 20000 PART I, LINE 2: THE CHECKS ARE ISSUED DIRECTLY TO THE INDIVIDUAL'S SCHOOL IN THE UNITED STATES. X 1 1 X X X X X 0 1 0 ALAN ALTHOUSE PRESIDENT & CEO 351950 0 57000 0 4391 0 130292 0 14168 0 557801 0 0 0 GARY BERNARD EVP CHIEF OPERATIONS OFFICER 402354 0 80260 0 0 0 149846 0 19564 0 652024 0 0 0 FRED FARBOD SVP CHIEF LENDING OFFICER 225608 0 40400 0 0 0 111678 0 13408 0 391094 0 0 0 CHRIS KEARNEY SVP CHIEF INFORMATION OFFICER 194192 0 35600 0 0 0 94449 0 20036 0 344277 0 0 0 JEFF PEABODY SVP CHIEF MARKETING OFFICER 196203 0 33300 0 0 0 74504 0 13467 0 317474 0 0 0 MICHAEL WARD SVP CHIEF FINANCIAL OFFICER 175991 0 3456 0 0 0 11269 0 13614 0 204330 0 0 0 BRENT CATTANI FINANCIAL ADVISOR II 291983 0 10000 0 0 0 17875 0 19424 0 339282 0 0 0 KATHERINE SCIASCIA MORTGAGE LOAN ORIGINATOR 332746 0 13843 0 0 0 17875 0 19300 0 383764 0 0 0 KATHLEEN HOFFMAN MORTGAGE LOAN ORIGINATOR 222162 0 8240 0 0 0 14522 0 12824 0 257748 0 0 0 EDWARD M PORTNOFF MORTGAGE LOAN OFFICER 294666 0 15780 0 0 0 16500 0 10570 0 337516 0 0 0 KELLY ARGALL MORTGAGE LOAN OFFICER 230402 0 8914 0 0 0 14608 0 12696 0 266620 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 2018. ALAN ALTHOUSE, PRESIDENT & CEO - $111,042 GARY BERNARD, CHIEF OPERATING OFFICER - $127,846 FRED FARBOD, CHIEF LENDING OFFICER - $91,902 CHRIS KEARNEY, CHIEF INFORMATION OFFICER - $78,725 JEFF PEABODY, CHIEF MARKETING OFFICER - $59,157 FORM 990, PART III, LINE 2 WE OPENED OUR SLAUGHTER LANE BRANCH IN JANUARY 2018. IT IS LOCATED AT 1824 W SLAUGHTER LANE SUITE 120 AUSTIN, TX 78748. WE ALSO ENTERED INTO A PARTNERSHIP WITH THE AMERICAN LUNG ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CREDIT UNION INCLUDE ANY ACTIVE OR RETIRED EMPLOYEE OF THE CREDIT UNION'S COMMON BOND OF OCCUPATION EMPLOYEE GROUPS, THEIR SUBSIDIARIES AND THEIR JOINT VENTURE COMPANIES AND OTHER BUSINESS RELATIONSHIPS AS APPROVED BY THE BOARD AND THE DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER. ANY MEMBER OF THE CREDIT UNION'S COMMON BOND OF ASSOCIATIONS OR ORGANIZATIONS AS APPROVED BY THE BOARD AND DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER OF THE CREDIT UNION. ANY INDIVIDUAL THAT LIVES OR WORKS OR ANY BUSINESS LOCATED IN THE GEOGRAPHIC AREAS LISTED IN APPENDIX C OF THE BYLAWS AS APPROVED BY THE BOARD AND THE DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER. ANY MEMBER OF THE CREDIT UNION'S COMMON BOND OF INTEREST GROUPS AS APPROVED BY THE BOARD AND THE DEPARTMENT OF FINANCIAL INSTITUTIONS MAY APPLY TO BECOME A MEMBER. 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 BOARD OF DIRECTORS RECEIVE A COPY OF THE RETURN PRIOR TO FILING. 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. FORM 990, PART VI, SECTION B, LINE 15 HRN MANAGEMENT IS A THIRD PARTY COMPANY THAT SPECIALIZES IN COMPENSATION. HRN GATHERS DATA FROM 700 CREDIT UNIONS ACROSS THE UNITED STATES AND DEVELOPS THE CREDIT UNION'S SALARY RANGES BASED ON COMPARABLE ASSET SIZE AND GEOGRAPHICAL LOCATION. THE CREDIT UNION ALSO UTILIZES A COMPENSATION CONSULTANT TO REVIEW THE CEO'S AND SENIOR LEADERSHIP TEAMS COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S MONTHLY FINANCIAL STATEMENTS ARE DISPLAYED AT ALL THE BRANCH LOCATIONS, AUDITED FINANCIALS AND OTHER DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CREDIT REPORTS 591,644. HOME EQUITY EXPENSES 652,351. LOAN EXPENSE OTHER 42,048. LOAN EXPENSE - 1ST MORTGAGE PROCESSING 521,123. MORTGAGE SALES EXPENSE 17,816. DEALER SALES EXPENSE 43,360. LOAN EXPENSE - EFT PHONE PAY 104,504. STUDENT LOAN EXPENSE 490. BUSINESS LOAN EXPENSE 65,960. BUSINESS DEVELOPMENT 1,811. VISA TRUREWARDS-BUSINESS PLATINUM POINTS 10,960. VISA SIGNATURE TRUEREWARDS 935,065. VISA PLATINUM TRUEREWARDS 156,467. DEBIT CARD EXPENSE 1,056,572. VISA SIGNATURE PROCESSING 465,315. VISA GOLD PROCESSING FEES 57,346. VISA PLATINUM PROCESSING FEES 130,731. VISA BUSINESS PROCESSING FEES 5,492. PLASTIC CARD FRAUD EXPENSE 233,367. MASTER CARD DEBIT FRAUD LOSSES 6,873. PROFESSIONAL CONSULTING SERVICES 395,245. FORM 990, PART XI, LINE 9: CHANGE IN DEFERRED COMPENSATION ASSETS -61,978.