2019-11-14T21:08:17-06:00 2018-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2018-01-01 880063808 GREATER NEVADA CREDIT UNION GREA 7758822060 PO BOX 2128 CARSON CITY NV 89702 JOYCE WHITNEY-SILVA EVP/CFO 7758861329 2019-11-14 1 WENDY CAMPOS P00448102 5032421447 2019-11-14 12.129.4.211 2019-11-14 13:58:18 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 2CA4604677747A1B8287DC7DD1B2F222DAF5CAE3 2018 2020-03-31 21:24:44Z WALLACE MURRAY PO BOX 2128 CARSON CITY NV 89702 68729217 0 X WWW.GNCU.ORG X 1949 NV TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS. 7 7 372 16 409050 0 0 0 60238545 63785055 2721240 4437265 443503 506897 63403288 68729217 292517 455731 0 0 18979185 21414123 0 0 0 31883312 32541092 51155014 54410946 12248274 14318271 873801899 964645139 789773704 867524559 84028195 97120580 TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS 0 0 FINANCIAL SERVICES - BANKING ACTIVITIES, INCLUDING LOANS AND DEPOSITS. TOTAL MEMBERSHIP TO THE CREDIT UNION GREW TO OVER 68,000 IN 2018, AN INCREASE OF NEARLY 4,000 FOR THE YEAR. DURING 2018, THE CREDIT UNION AND ITS AFFILIATES FUNDED NEARLY $183 MILLION IN CONSUMER LOANS. MORTGAGE SERVICES - ORIGINATING, SELLING, AND SERVICING OF REAL ESTATE MORTGAGES. DURING 2018, THE CREDIT UNION FUNDED $206.6 MILLION IN MORTGAGE LOANS. COMMERCIAL LENDING - ORIGINATING, SELLING, AND SERVICING OF COMMERCIAL LOANS. DURING 2018, THE CREDIT UNION FUNDED NEARLY $337 MILLION IN COMMERCIAL LOANS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 16530 0 1 372 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 1 0 1 1 1 0 0 X JOYCE WHITNEY-SILVA 7758861329 451 EAGLE STATION LANE CARSON CITY NV 89701 ROB JOINER CHAIR 8.00 X X 0 0 0 WILLIAM ARRENSDORF VICE CHAIR 4.00 X X 0 0 0 JON STEELE SECRETARY 4.00 X X 0 0 0 ALEX TALMANT TREASURER 4.00 X X 0 0 0 BARBARA BYINGTON DIRECTOR 4.00 X 0 0 0 VERNON DALTON DIRECTOR TO 03/18 4.00 X 0 0 0 TRAVIS LEE DIRECTOR 4.00 X 0 0 0 PAUL RICHEY DIRECTOR 4.00 X 0 0 0 WALLACE MURRAY PRESIDENT/CEO 40.00 X 446692 0 15621 JOYCE WHITNEY-SILVA EVP/CFO 40.00 X 238435 0 30742 DEAN ALTUS EVP/COO 40.00 X 234611 0 13817 JAMES ANDERSON EVP/MORTGAGE LENDING 40.00 X 245389 0 22543 NATALIE DUFTY MORTGAGE CONSULTANT 40.00 X 206536 0 22682 JEREMY GILPIN EVP/COMMERCIAL LENDING 40.00 X 283391 0 19599 TODD HUBBELL VP/COMMERCIAL LENDING 40.00 X 282019 0 11185 1937073 0 136189 33 0 1 0 FISERV INC PO BOX 80123 CITY OF INDUSTRY CA 91716 CORE PROCESSOR SUPPORT 2506268 EXL MEDIA 803 TAHOE BOULEVARD SUITE 7 INCLINE VILLAGE NV 89451 ADVERTISING SERVICES 678137 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 NOTICES AND STATEMENT SERVICING 560391 SECTRAN SECURITY INC PO BOX 227267 LOS ANGELES CA 90022 CASH TRANSPORT AND EQUIPMENT MAINTENANCE 338522 ADVANTAGE CREDIT UNION INC 32065 CASTLE COURT SUITE 300 EVERGREEN CO 80439 CREDIT REPORTING SERVICES 260500 22 INTEREST - MEMBER LOAN 522100 32033512 32033512 FEES & SERVICE CHARGES 522100 11025966 11025966 GAIN ON SALE OF LOANS 522100 9947513 9947513 INTERCHANGE INCOME 522100 6020937 6020937 OTHER NON-INTEREST INC 522100 4757127 4348077 409050 63785055 4437265 4437265 62062 0 62062 62062 62062 LIFE INSURANCE VALUE 900099 444835 444835 444835 68729217 63376005 409050 4944162 399731 56000 801158 16547668 353422 2222278 1489597 248999 177983 2524286 2536946 1907266 865763 2420307 350127 252737 2630217 2773917 96801 LOAN SERVICING 6412977 PROCESSING COSTS 4118479 LOAN LOSS PROVISION 3893930 LICENSES AND FEES 1201994 128363 54410946 85998072 29215062 30310690 23138568 566707568 670383026 2100262 2485569 60039409 25698008 31552013 34341401 96448257 149349413 12975552 6569279 898573 2748171 46810912 46414650 873801899 964645139 42338212 18895823 5553115 16000000 741882377 832628736 789773704 867524559 X 0 0 0 0 84028195 97120580 84028195 97120580 873801899 964645139 14318271 -1225886 0 X 0 1 X 1 0 1 3318443 13414430 12994156 3738717 0 10213671 10213671 25884359 9752604 16131755 3333511 2056335 1277176 20468234 13786376 6681858 139634 102693 36941 34341401 MEMBERS' SHARE AND SAVINGS ACCOUNTS 832628736 832628736 X PART IV, LINE 1B: BORROWER PAYMENTS FOR PRINCIPAL, INTEREST, TAXES AND INSURANCE. 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 CONSOLIDATED 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. 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. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. 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 CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED 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 UNIVERSITY OF NEVADA RENO 1664 N VIRGINIA STREET RENO NV 89557 886000024 STATE OF NEVADA 52909 EDUCATIONAL ASSISTANCE SPECIAL OLYMPICS NEVADA 5670 WYNN ROAD SUITE E LAS VEGAS NV 89118 680363121 501(C)(3) 50000 SPORTS EVENTS FOR PEOPLE WITH DISABILITIES REKNOWN HEALTH FOUNDATION 245 E LIBERTY STREET SUITE 400 RENO NV 89501 942972749 501(C)(3) 50000 GENERAL SUPPORT 3 0 SCHOLARSHIPS 28 56000 PART I, LINE 2: THE GRANTS MADE ARE CONSIDERED CHARITABLE DONATIONS AND DO NOT REQUIRE FORMAL MONITORING OR REPORTING. X 0 1 0 WALLACE MURRAY PRESIDENT/CEO 362092 0 84600 0 0 0 8286 0 7335 0 462313 0 0 0 JOYCE WHITNEY-SILVA EVP/CFO 189685 0 48750 0 0 0 18293 0 12449 0 269177 0 0 0 DEAN ALTUS EVP/COO 185861 0 48750 0 0 0 8159 0 5658 0 248428 0 0 0 JAMES ANDERSON EVP/MORTGAGE LENDING 191188 0 54201 0 0 0 5001 0 17542 0 267932 0 0 0 NATALIE DUFTY MORTGAGE CONSULTANT 204036 0 2500 0 0 0 5140 0 17542 0 229218 0 0 0 JEREMY GILPIN EVP/COMMERCIAL LENDING 176250 0 107141 0 0 0 9414 0 10185 0 302990 0 0 0 TODD HUBBELL VP/COMMERCIAL LENDING 98333 0 183686 0 0 0 0 0 11185 0 293204 0 0 0 PART I, LINE 4B THE ORGANIZATION HAS A 457(F) DEFERRED COMPENSATION PLAN IN PLACE; JOYCE WHITNEY-SILVA IS THE ONLY PARTICIPANT IN THE PLAN. THE ORGANIZATION CONTRIBUTED $10,000 TO JOYCE WHITNEY-SILVA'S 457(F) PLAN DURING 2018, WHICH HAS BEEN REPORTED AS "RETIREMENT AND DEFERRED COMPENSATION" ON SCHEDULE J, PART II, COLUMN (C). THERE WERE NO TAXABLE DISTRIBUTIONS FROM THE 457(F) PLAN OR AMOUNTS WHICH BECAME TAXABLE DUE TO VESTING DURING 2018. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS ONE CLASS OF MEMBER, WHICH ARE: (I) SHAREHOLDERS OF THE CREDIT UNION WHO LIVE OR WORK IN THE FOLLOWING NEVADA COUNTIES: CARSON CITY, CHURCHILL, CLARK, DOUGLAS, ELKO, ESMERALDA, EUREKA, HUMBOLDT, LANDER, LINCOLN, LYON, MINERAL, NYE, PERSHING, STOREY, WASHOE, WHITE PINE; (II) SPOUSES OF PERSONS WHO DIED WHILE WITHIN THE FIELD OF MEMBERSHIP OF THIS CREDIT UNION; (III) EMPLOYEES OF THIS CREDIT UNION; (IV) PERSONS RETIRED AS PENSIONERS OR ANNUITANTS FROM THE ABOVE EMPLOYMENT; AND (V) MEMBERS OF THEIR IMMEDIATE FAMILIES. MEMBERS DO NOT RECEIVE SHARES OF PROFIT OTHER THAN THROUGH SHARE ACCOUNT DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A FOR EACH VACANCY OF THE BOARD OF DIRECTORS, THE NOMINATING COMMITTEE FILES NOMINATIONS WITH THE SECRETARY OF THE CREDIT UNION AT LEAST 90 DAYS PRIOR TO THE ANNUAL MEETING. NOMINATIONS FOR VACANCIES MAY ALSO BE MADE BY MEMBERS OF THE ORGANIZATION VIA PETITION SIGNED BY 500 MEMBERS OR ONE PERCENT (1%) OF THE MEMBERSHIP ELIGIBLE TO VOTE AT MEETINGS OF THE MEMBERS, WHICHEVER IS SMALLER. SHOULD THERE BE A CONTESTED ELECTION, THE ELECTION IS THEN DETERMINED BY PLURALITY VOTE OPEN TO ALL MEMBERS OF THE ORGANIZATION ELIGIBLE TO VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT IN CONJUNCTION WITH THE ORGANIZATION'S EVP/CFO. THE EVP/CFO, WHO IS A MEMBER OF THE EXECUTIVE MANAGEMENT TEAM, THEN REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT/CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPENSATION SURVEY DATA OBTAINED FROM OUTSIDE CONSULTANTS IS UTILIZED TO DETERMINE APPROPRIATE SALARY AND BENEFIT LEVELS FOR THE PRESIDENT/CEO. SUCH DECISIONS ARE DOCUMENTED BY THE BOARD IN AN EXECUTIVE SESSION. THIS PROCESS WAS LAST COMPLETED AS OF APRIL 1, 2016. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S MONTHLY FINANCIAL STATEMENTS ARE POSTED IN EACH OF THE CREDIT UNION'S BRANCHES. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. GREATER NEVADA LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 880500878 MORTGAGE SERVICES NV 486002 20618692 GREATER NEVADA CREDIT UNION GREATER NEVADA FINANCIAL GROUP LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 811825547 INSURANCE PRODUCTS NV 8407 128964 GREATER NEVADA CREDIT UNION GREATER COMMERCIAL LENDING LLC 451 EAGLE STATION LANE CARSON CITY NV 89701 821499653 COMMERCIAL LENDING NV 2371096 15302780 GREATER NEVADA CREDIT UNION