2019-02-20T10:32:01-06:00 2018-03-01 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2018-01-01 860929205 ALTIER CREDIT UNION ALTI 6027973000 1650 S PRIEST DRIVE TEMPE AZ 85281 DAVID SKILTON DIRECTOR OF FINANCE 6027973000 2019-02-19 1 GERALD B KISSELL P00092658 6123324300 108.171.131.188 2019-02-19 17:44:10 CS P 6F5103E9980D75791B077348B66F76D017BB7952 C0F43978DBA0C0105C9EC865D2B1B55C6AA9D490 2018 2019-02-21 02:37:17Z X DAVID SKILTON 1650 S PRIEST DRIVE TEMPE AZ 85281 1777714 0 2111 X WWW.ALTIERCU.ORG X 1998 AZ SHAPING A POWERFUL FINANCIAL FUTURE THROUGHOUT OUR COMMUNITIES, ONE MEMBER AT A TIME. X 6 6 0 11 18037 0 0 0 9425559 1669288 1169484 105530 0 0 10595043 1774818 0 0 334288 52559 4060516 652370 0 0 0 15166044 2090849 19560848 2795778 -8965805 -1020960 191316016 0 186688467 0 4627549 0 FINANCIAL COOPERATIVE PROVIDING LOANS/SERVICES TO CREDIT UNION MEMBERS. 0 0 CONSUMER LENDING - ALTIER CREDIT UNION PROVIDES SECURED CONSUMER LOANS FOR AUTOMOBILES, MOBILE HOMES, AND HOME EQUITY PRODUCTS, AS WELL AS PROVIDING UNSECURED CONSUMER LOANS FOR CREDIT CARDS AND OTHER LINES OF CREDIT. DURING THE PERIOD OF JANUARY-FEBRUARY 2018, THE CREDIT UNION FUNDED 3,758 NEW LOANS AND DISBURSED $11,099,311.52 IN NEW LOAN BALANCES. CONSUMER DEPOSITS - ALTIER CREDIT UNION PROVIDES DEPOSIT SERVICES IN THE FORM OF SAVINGS, CHECKING, MONEY MARKET, AND CERTIFICATE OF DEPOSIT ACCOUNTS. AT THE CLOSE OF FEBRUARY 2018, THE CREDIT UNION HAD 38,857 DEPOSIT ACCOUNTS AND $182,741,617 IN DEPOSIT BALANCES. OTHER CONSUMER PRODUCTS - ALTIER CREDIT UNION OFFERS DEBT CANCELLATION INSURANCE, ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE, EXTENDED VEHICLE WARRANTIES, AND GAP WARRANTIES. 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 AZ X AMANDA THEISEN 6027973000 1650 SOUTH PRIEST DRIVE TEMPE AZ 85281 ROSE PFISTER CHAIR 1.00 X X 0 0 0 BRENDAN O'CONNOR VICE CHAIR 1.00 X X 0 0 0 YVONNE REININK SECRETARY/TREASURER 1.00 X X 0 0 0 NATHAN ERICKSON DIRECTOR 1.00 X 0 0 0 GEORGE NJOCK II DIRECTOR 1.00 X 0 0 0 VICKI DAVIS DIRECTOR 1.00 X 0 0 0 DAVID SKILTON PRESIDENT/CEO 40.00 X 26180 0 15071 26180 0 15071 0 0 0 0 0 INTEREST ON LOANS 522100 1059146 1059146 FEES AND CHARGES 522100 289111 280763 8348 CHECK PROGRAMS 522100 199928 199928 MISC. OPERATING INCOME 522100 121103 111414 9689 1669288 106476 106476 1950 2896 -946 -946 -946 1774818 1651251 18037 105530 52559 31792 446323 50468 72771 51016 394 21588 354842 93568 5519 45922 PROVISION FOR LOAN LOSS 1042591 IMPAIRMENT OF REPOSSESS 360409 LOAN SERVICING 77109 88907 2795778 18229000 0 0 0 288922 0 0 0 135228687 0 0 461571 0 0 6771074 0 245300 0 26224146 0 0 0 3867316 0 191316016 0 4421205 14764 182252498 0 186688467 0 X 0 0 0 0 4627549 0 4627549 0 191316016 0 X -1020960 -52215 -3554374 X 0 0 0 0 1 X 0 PART IV, LINE 2B: ESCROW ACCOUNT BALANCES ARE INCLUDED IN OUR DEPOSIT LIABILITIES. THESE ESCROW ACCOUNTS CONTAIN FUNDS DESIGNATED FOR PROPERTY TAXES AND INSURANCE PREMIUMS FOR HOME MORTGAGES. NET LOANS 2018-03-01 129912771 COMPARABLES 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) CASH & CASH EQUIVALENTS 2018-03-01 21136012 BOOK VALUE 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) INVESTMENTS 2018-03-01 19866324 COMPARABLES 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) RECEIVABLES 2018-03-01 741832 BOOK VALUE 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) PREPAID EXPENES 2018-03-01 439637 COST LESS DEPRECIATION 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) LAND AND BUILDING 2018-03-01 5697541 APPRAISAL 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) OTHER ASSETS 2018-03-01 7893530 BOOK VALUE 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) GOODWILL 2018-03-01 -1391246 COMPARABLES 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) CORE DEPOSIT INTANGIBLE 2018-03-01 3073497 COMPARABLES 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) OTHER FIXED ASSETS 2018-03-01 972786 COMPARABLES 870216202 AMERICA FIRST FEDERAL CREDIT UNION PO BOX 9199 OGDEN UT 84409 501(C)(1) 0 0 0 1 PART II, LINE 2E: PERSON(S) INVOLVED: DAVID SKILTON PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: THE FORMER CEO OF ALTIER CREDIT UNION RECEIVED A SEVEARNCE PACKAGE FROM MARCH - AUGUST 2018. FORM 990, PART 1, LINE 6 THE 11 VOLUNTEERS REPORTED CONSIST OF THE 6 UNCOMPENSATED BOARD OF DIRECTORS AND 5 SUPERVISORY COMMITTEE MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 FORM 990 IS REVIEWED BY THE DIRECTOR OF FINANCE FOR ALTIER CREDIT UNION, A DIVISION OF AMERICA FIRST CREDIT UNION, AND THE VP OF ACCOUNTING FOR AMERICA FIRST CREDIT UNION, PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS MONITORED BY EXTERNAL AUDITORS AND EXAMINERS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES SALARY GRADES THAT ARE BASED ON COMPENSATION SURVEYS IN ITS INDUSTRY. THE BOARD OF DIRECTORS APPROVE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CU'S ADMINISTRATIVE OFFICE LOBBY EVERY MONTH AFTER THE BOARD MEETING. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC UNLESS A MEMBER SPECIFICALLY REQUESTS TO SEE THEM. THE MEMBER MAY REQUEST THESE DOCUMENTS AT THE CU'S ADMINISTRATIVE OFFICES AND DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: NET ASSETS TRANSFERRED TO AMERICA FIRST FEDERAL CREDIT UNION -3,554,374. ALTIER CREDIT UNION'S 2018 FORM 990 WAS ORIGINALLY ELECTRONICALLY FILED ON FEBRUARY 15, 2019; HOWEVER THE RETURN WAS REJECTED, STATING 1) THE RETURN TYPE INDICATED IN THE RETURN HEADER MUST MATCH THE RETURN TYPE ESTABLISHED WITH THE IRS FOR THE EIN; 2) THE "EIN" IN THE RETURN MUST HAVE BEEN ESTABLISHED AS AN EXEMPT ORGANIZATION RETURN FILER IN THE E-FILE DATABASE. WE HAVE BEEN IN CONTACT WITH THE IRS TO RESOLVE THE ISSUE; THEREFORE WE RESPECTFULLY REQUEST NO LATE FEES OR PENALTIES BE ASSESSED DUE TO THE FACT THE RETURN WAS ORIGINALLY SUBMITTED BY THE EXTENDED DUE DATE OF FEBRUARY 15, 2019.