2019-11-12T14:03:03-06:00 2018-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BOULEVARD 7TH FLOOR LOS ANGELES CA 900243783 990 2018-01-01 840459116 ELEVATIONS CREDIT UNION ELEV 3034434672 PO BOX 9004 BOULDER CO 803019004 MICHAEL CALCOTE CFO 3034434672 2019-11-05 1 NAZANIN BENYAMINI P00666808 3104773924 2019-11-05 206.169.119.90 2019-11-05 08:50:41 PS P F359E61BA6973D64B3FEFC1FB68729C716F4796F 39B883A90DA443021BCE10616C346186F8FFA67E 2018 2020-03-31 21:24:44Z GERRY AGNES PO BOX 9004 BOULDER CO 803019004 1020985989 0 X WWW.ELEVATIONSCU.COM X CREDIT UNION 1952 CO WE PROVIDE SOLUTIONS FOR A BETTER LIFE. 10 10 643 0 66107 0 0 0 79024867 92221034 29302831 27488665 5765645 3165403 114093343 122875102 310783 228208 0 0 50151602 58097252 0 0 0 39312773 49123804 89775158 107449264 24318185 15425838 1960301874 2088986456 1755082281 1868998633 205219593 219987823 WE PROVIDE SOLUTIONS FOR A BETTER LIFE. 0 0 ELEVATIONS CREDIT UNION SERVES ADAMS, BOULDER, BROOMFIELD, DENVER,JEFFERSON, LARIMER AND WELD COUNTIES. THE CREDIT UNION OFFERS A FULLARRAY OF PRODUCTS AND SERVICES INCLUDING DEPOSITORY AND LOAN PRODUCTS,ATM/DEBIT PROGRAM, FINANCIAL EDUCATION, INSURANCE AND INVESTMENT SALES.WE ENDED THE YEAR WITH 137,066 MEMBERS AND 168,868 SHARE ACCOUNTS.THERE WERE 15,838 LOANS GRANTED TOTALING $1,378,677,943. ELEVATIONSCURRENTLY OFFERS THIRTEEN BRANCH LOCATIONS AND A WIDE ARRAY OF REMOTEOPTIONS THROUGH OUR COOPERATION WITH THE COOP ATM NETWORK, CUSN ANDONLINE BANKING OFFERINGS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 0 0 0 0 1 1 0 0 1 41184 0 1 643 1 1 1 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MICHAEL CALCOTE 3034434672 PO BOX 9004 BOULDER CO 803019004 NANCY HERBERT BOARD OF DIRECTORS - CHAIR 10.00 X X 40813 0 0 KATE BROWN BOARD OF DIRECTORS - VICE 8.00 X X 36236 0 0 ERIC JONES BOARD OF DIRECTORS - TREASURER 6.00 X X 35326 0 1877 RAY MARTINEZ BOARD OF DIRECTORS - SECRETARY 6.00 X X 30000 0 4337 NATALIE BAUMGARTNER BOARD OF DIRECTORS 6.00 X 30000 0 0 CARROLL BEACH BOARD OF DIRECTORS 6.00 X 32930 0 0 DON CHEYNE BOARD OF DIRECTORS 6.00 X 36953 0 0 KATIE COWAN BOARD OF DIRECTORS 6.00 X 31725 0 0 TODD GLEESON BOARD OF DIRECTORS 6.00 X 34550 0 0 JIM MENGHI BOARD OF DIRECTORS 6.00 X 36986 0 0 GERRY AGNES PRESIDENT/CEO 40.00 X 890899 0 26166 MICHAEL CALCOTE CHIEF FINANCIAL OFFICER 40.00 X 538819 0 27506 STEVEN SCHMIDLE CSPO 40.00 X 253713 0 27192 PIERRE DUPRE CHIEF INFORMATION OFFICER 40.00 X 426735 0 19202 RAYMOND LINDLEY CHIEF OPERATING OFFICER 40.00 X 313351 0 217928 BRIAN HOLST GENERAL COUNSEL 40.00 X 362929 0 23238 TAMMY TAYLOR CHIEF HUMAN RESOURCE OFFICER 40.00 X 140728 0 4234 JAMES CHAMPION COO 40.00 X 498119 0 25835 SUSAN GREEN CMO 40.00 X 252213 0 18009 CAMERON WHITE-FORD MORTGAGE SALES MAANGER 40.00 X 823001 0 26660 AARON STAUFER MORTGAGE LOAN ORIGINATOR 40.00 X 634501 0 18517 ELIZABETH MILLION VP MORTGAGE SALES 40.00 X 726079 0 20850 TODD PEYOK VP COMMERCIAL LENDING 40.00 X 818238 0 27580 JAMES PERKINS MORTGAGE LOAN ORIGINATOR 40.00 X 444144 0 26411 7468988 0 515542 14 1 1 0 NEENAN COMPANY LLP 3325 S TIMBERLINE STE 100 FORT COLLINS CO 80525 CONSTRUCTION 11592666 EON ENTERPRISES 60 TEJON STREET DENVER CO 80223 FURNITURE 2699043 COOP 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 DEBIT/CREDIT CARD PROCESSOR 2105682 DMI 1 CORPORATE DR ST 360 LAKE ZURICH IL 60047 SERVICE 1ST MORTGAGES 1964868 DIEBOLD INCORPORATED PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT AND MAINTENANCE 1620947 5 INTEREST ON LOAN TO MEMBERS 522100 68267822 68267822 INTERCHANGE INCOME 522100 13321666 13321666 FEES AND SERVICE CHARGES 522100 7617114 7617114 OTHER NON-OPERATING INCOME 522100 3014432 3014432 92221034 7354772 7354772 433403 1547289 -1113886 -1113886 -1113886 33984 916663507 0 896563598 33984 20099909 20133893 20133893 OTHER INCOME 522100 4213182 4213182 NON-MEMBER ATM FEES 522100 66107 66107 4279289 122875102 96434216 66107 26374779 228208 4418499 44452893 1349261 4701633 3174966 148880 377276 4222506 5438519 16624041 256419 1033545 1061519 4107932 372168 LOAN SERVICING EXPENSE 8041075 PROVISION FOR LOAN LOSS 3777347 INTEREST/DIVIDENDS PAID 3089938 MISCELLANEOUS 572639 107449264 11477107 13070222 202633863 198410212 3704965 2123071 1443036438 1503047121 2494905 3223790 103163765 36146425 49119103 67017340 169775292 552300 197808021 5658521 5652582 71849380 98634097 1960301874 2088986456 38875245 37138184 30482750 36652533 1685724286 1795207916 1755082281 1868998633 X 0 0 11879721 11879721 193339872 208108102 205219593 219987823 1960301874 2088986456 15425838 -657608 0 X X 0 1 X 1 0 0 1 X 12484845 12484845 37908502 8792854 29115648 5388120 3763754 1624366 34067025 23589817 10477208 13315273 13315273 67017340 OTHER INVESTMENTS 197808021 C 197808021 REGULAR SHARES 552577883 SHARE DRAFT ACCOUNTS 520376372 MONEY MARKET ACCOUNTS 495480120 CERTIFICATES 89779907 IRA SHARES 66232325 DEPOSITS 70761309 1795207916 X PART IV, LINE 2B: AN ESCROW ACCOUNT IS MAINTAINED FOR THE TAXES AND INSURANCE PAYABLE ON REAL ESTATE SECURING THE CREDIT UNION'S MORTGAGE LOANS. THE ESCROWS MAINTAINED AT THE CREDIT UNION FOR TAXES AND INSURANCE PAYABLE INCLUDE LOANS TO FANNIE MAE, FREDDIE MAC, FEDERAL HOME LOAN BANK AND OTHER CREDIT UNIONS FOR WHICH ELEVATIONS CREDIT UNION RETAINS SERVICING. IN ADDITION, CUSTODIAL ACCOUNTS ARE ALSO MAINTAINED ON BEHALF OF FANNIE MAE AND FREDDIE MAC FOR THE TAXES AND INSURANCE PAYABLE ON THE REAL ESTATE SECURING THE LOANS SOLD TO FANNIE MAE AND FREDDIE MAC. PART X, LINE 2: FASB ASC 740-10-25 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 UPON EXAMINATION BY TAX AUTHORITIES. AS A RESULT OF ADOPTING ASC 740-10-25, THE CREDIT UNION HAS ASSESSED ITS 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 2017, 2016 AND 2015 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE 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. 1 ELEVATIONS FOUNDATION PO BOX 9004 BOULDER CO 80301 273484142 501(C)(3) 113440 114768 FMV EXECUTIVE DIRECTOR'S ANNUAL SALARY AND COMPENSATION SUPPORT SCHOLARSHIPS, ETC. 1 PART I, LINE 2: THE CREDIT UNION RECEIVES AN ANNUAL REPORT FROM THE FOUNDATION INDICATING WHERE THE FUNDS HAVE BEEN DISTRIBUTED. X X 1 1 X X X X 0 1 0 GERRY AGNES PRESIDENT/CEO 614131 0 276768 0 0 0 11000 0 15166 0 917065 0 0 0 MICHAEL CALCOTE CHIEF FINANCIAL OFFICER 379652 0 159167 0 0 0 11000 0 16506 0 566325 0 0 0 STEVEN SCHMIDLE CSPO 192089 0 61624 0 0 0 10655 0 16537 0 280905 0 0 0 PIERRE DUPRE CHIEF INFORMATION OFFICER 311944 0 114791 0 0 0 11000 0 8202 0 445937 0 0 0 RAYMOND LINDLEY CHIEF OPERATING OFFICER 238560 0 74791 0 0 0 202667 0 15261 0 531279 0 191667 0 BRIAN HOLST GENERAL COUNSEL 292427 0 70502 0 0 0 9324 0 13914 0 386167 0 0 0 JAMES CHAMPION COO 340291 0 157828 0 0 0 11000 0 14835 0 523954 0 0 0 SUSAN GREEN CMO 198468 0 53745 0 0 0 10150 0 7859 0 270222 0 0 0 CAMERON WHITE-FORD MORTGAGE SALES MAANGER 42127 0 4701 0 776173 0 11000 0 15660 0 849661 0 0 0 AARON STAUFER MORTGAGE LOAN ORIGINATOR 0 0 1695 0 632806 0 11000 0 7517 0 653018 0 0 0 ELIZABETH MILLION VP MORTGAGE SALES 115270 0 24524 0 586285 0 11000 0 9850 0 746929 0 0 0 TODD PEYOK VP COMMERCIAL LENDING 199703 0 42757 0 575778 0 11000 0 16580 0 845818 0 0 0 JAMES PERKINS MORTGAGE LOAN ORIGINATOR 0 0 1669 0 442475 0 11000 0 15411 0 470555 0 0 0 PART I, LINE 1A A FORM 1099 IS ISSUED FOR TRAVEL EXPENSES INCURRED BY THE ORGANIZATION FOR A COMPANION. THE ORGANIZATION'S TRAVEL POLICY ALLOWS EMPLOYEES TO TRAVEL USING BUSINESS CLASS IF THE BUSINESS FLIGHT WILL LAST MORE THAN FOUR HOURS. IN THE CASE WHERE THE AIRLINE IS ONLY OFFERING ECONOMY OR FIRST CLASS TRAVEL FOR A FLIGHT THAT WILL LAST FOR GREATER THAN FOUR HOURS, IT IS ALLOWABLE TO BOOK FIRST CLASS TRAVEL AS THERE IS NO ALTERNATIVE BUSINESS CLASS. PART I, LINE 4B RAYMOND LINDLEY RECEIVED A PAYOUT FROM A 457(F) PLAN - $191,666.67 GERRY AGNES (ACCRUED BENEFIT OF $1,394,938 AS OF 12/31/18), MICHAEL CALCOTE (ACCRUED BENEFIT OF $393,119 AS OF 12/31/18), STEVEN SCHMIDLE (ACCRUED BENEFIT OF $202,900 AS OF 12/31/18), GARY KINDLE (ACCRUED BENEFIT OF $164,856 AS OF 12/31/18), TODD PEYOK (ACCRUED BENEFIT OF $152,175 AS OF 12/31/18), PETE DUPRE (ACCRUED BENEFIT OF $172,465 AS OF 12/31/18), RAYMOND LINDLEY (ACCRUED BENEFIT OF $10,990 AS OF 12/31/18), TAMMY TAYLOR (ACCRUED BENEFIT OF $65,097 AS OF 12/31/18), SUSAN GREEN (ACCRUED BENEFIT OF $197,828 AS OF 12/31/18) AND BRIAN HOLST (ACCRUED BENEFIT OF $142,030 AS OF 12/31/18). PIERRE DUPRE CIO AUTOMOBILE X 72673 56546 0 1 1 CAMERON WHITE-FORD MORTGAGE LOAN ORIGINATOR FIRST MORTGAGE X 148125 94227 0 0 1 PIERRE DUPRE CIO FIRST MORTGAGE X 800000 783547 0 1 1 GERRY AGNES PRESIDENT/CEO FIRST MORTGAGE X 1182400 1051675 0 1 1 STEVEN SCHMIDLE CSPO FIRST MORTGAGE X 417000 137076 0 1 1 2123071 ELEVATIONS FOUNDATION FOUNDATION BOARD CONSISTS OF CREDIT UNION MANAGEMENT AND DIRECTORS 228208 CONTRIBUTION FROM CREDIT UNION TOFOUNDATION 0 FORM 990, PART VI, SECTION A, LINE 6 ELEVATIONS CREDIT UNION IS A MEMBER-OWNED COOPERATIVE OPERATED FOR THE BENEFIT OF INDIVIDUALS LIVING OR WORKING IN THE COUNTIES OF ADAMS, BOULDER, BROOMFIELD, DENVER, JEFFERSON, LARIMER AND WELD COUNTIES, EMPLOYEES, RETIREES OR STUDENTS OF THE UNIVERSITY OF COLORADO-BOULDER OR NAROPA UNIVERSITY, VARIOUS SELECT EMPLOYEE GROUPS AND THEIR FAMILIES. 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, AS VACANCIES ARISE OR OTHERWISE. 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 B, LINE 11B THE CONTROLLER PROVIDES NECESSARY RESEARCH AND DATA TO THE PREPARERS OF THE FORM 990. THE CFO REVIEWS THE FORM 990; THE BOARD OF DIRECTORS ARE ALSO PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A WRITTEN ACKNOWLEDGMENT IS FILLED OUT EACH YEAR BY THE OFFICERS, DIRECTORS, AND EMPLOYEES WHICH COULD GIVE RISE TO POTENTIAL CONFLICTS WITHIN THE ORGANIZATION. ANY POTENTIAL ISSUES ARE DISCUSSED WITH THE KEY OFFICERS AND THOSE CHARGED WITH GOVERNANCE FOR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 HUMAN RESOURCES CONDUCTS A COMPREHENSIVE COMPENSATION MARKET ANALYSIS USING THREE DIFFERENT RESOURCES FOR ALL EMPLOYEES WITH THE EXCEPTION OF THE CEO. AN INDEPENDENT CONSULTANT IS USED TO DETERMINE THE CEO'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FILING OF 5300 CALL REPORT DATA IS AVAILABLE TO THE PUBLIC AT WWW.NCUA.GOV. ANNUAL REPORTS ARE AVAILABLE FOR VIEWING ON THE CREDIT UNION'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C SELECTION OF THE AUDITORS AND OVERSIGHT OF THE AUDITORS IS DONE BY THE AUDIT COMMITTEE. THERE WERE NO CHANGES TO THE SELECTION OR OVERSIGHT PRACTICES DURING 2018. ONE ENVIRONMENTAL WAY LLC 2300 55TH STREET BOULDER CO 80301 821552939 PROPERTY MANAGEMENT CO 433403 0 ELEVATIONS CREDIT UNION ELEVATIONS FOUNDATION PO BOX 9004 BOULDER CO 80301 273484142 COLLECT/DISTRIBUTE FUNDS TO SUPPORT CAUSES IN AREAS SERVED BY CREDIT UNION CO 501(C)(3) 170(B)(A)(VI) 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ELEVATIONS FOUNDATION B 228208 PART I, IDENTIFICATION OF DISREGARDED ENTITIES: NAME OF DISREGARDED ENTITY: ONE ENVIRONMENTAL WAY, LLC DIRECT CONTROLLING ENTITY: ELEVATIONS CREDIT UNION