2017-11-08T19:02:14-06:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 840146595 BELLCO CREDIT UNION BELL 3036897800 7600 E ORCHARD ROAD NO 400N GREENWOOD VILLAGE CO 80111 JOHN M RUBY SVP/CLO 3036897800 2017-11-08 1 DOUGLAS J ORTH P01076394 3052328272 40.141.134.7 2017-11-08 19:58:12 ES P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2018-03-14 21:41:22Z DOUGLAS A FERRARO 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 338101985 0 1948 X WWW.BELLCO.ORG X 1936 CO BELLCO IS A PROGRESSIVE, MEMBER-OWNED ORGANIZATION THAT PROVIDES COMPETITIVE FINANCIAL SERVICES TO MEET EVOLVING MEMBER NEEDS. WE WILL SUSTAIN PLANNED GROWTH TO FUND THE FUTURE WHILE MAINTAINING MEMBER CONFIDENCE THROUGH FINANCIAL STABILITY. WE WILL PROVIDE A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND CONTRIBUTE TO THE SOCIAL AND ECONOMIC WELL BEING OF OUR COMMUNITY. 10 9 421 12 306902 -68878 0 0 143024494 159958532 6890048 10990074 990634 1346548 150905176 172295154 0 0 0 0 27036208 28615195 0 0 0 82567106 104510225 109603314 133125420 41301862 39169734 3109279486 3769852518 2758494087 3379959123 350785399 389893395 X BELLCO IS A PROGRESSIVE, MEMBER-OWNED ORGANIZATION THAT PROVIDES COMPETITIVE FINANCIAL SERVICES TO MEET EVOLVING MEMBER NEEDS. WE WILL SUSTAIN PLANNED GROWTH TO FUND THE FUTURE WHILE MAINTAINING MEMBER CONFIDENCE THROUGH FINANCIAL STABILITY. WE WILL PROVIDE A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND CONTRIBUTE TO THE SOCIAL AND ECONOMIC WELL BEING OF OUR COMMUNITY. 0 0 INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 120687 0 1 421 1 1 1 0 0 0 0 0 X 10 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 CO X DAN KAMPEN 3036897800 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 JANE PRANCAN SECRETARY/TREASURER 1.00 X 0 0 0 DAVID POWERS BOD MEMBER 1.00 X 0 0 0 SUSAN BRAYMAN BOD MEMBER 1.00 X 0 0 0 JAMES DOWNS BOD MEMBER 1.00 X 0 0 0 SHERRY KREIS V. CHAIRPERSON/BOD MEMBER 1.00 X 0 0 0 ANDREW MURRAY BOD MEMBER 1.00 X 0 0 0 DOUG FERRARO BOD MEMBER/PRESIDENT/CEO 40.00 X X 1070144 0 921941 WALKER FLEMING CHAIRPERSON 1.00 X 0 0 0 STEVEN ANGELIER TREASURER/V.CHAIRMAN 1.00 X 0 0 0 LAURA SONDERUP BOD MEMBER 1.00 X 0 0 0 C DAVID KIKUMOTO SUPERVISORY COMMITTEE/CHAI 1.00 X 0 0 0 SANDRA BLODGETT SUPERVISORY COMMITTEE MEMB 1.00 X 0 0 0 JAMES WINFIELD SUPERVISORY COMMITTEE MEMB 1.00 X 0 0 0 JOHN M RUBY SVP/CLO 40.00 X 364831 0 22495 LEEANN DOWNEY SVP/CHIEF ADM. OFFICER 40.00 X 348693 0 47864 JOHN RIVERA SVP/CHIEF RETAIL OFFICER 40.00 X 357268 0 47745 GREG LUNDSTROM COMMERCIAL BUSINESS LENDING 40.00 X 515081 0 32500 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDING 40.00 X 439299 0 35745 JOHN PARGEON VP CONTROLLER 40.00 X 238298 0 15163 JUAN CARLOS CAMPOS DIRECTOR- GENERAL COUNSEL/COMPLIANCE 40.00 X 218449 0 30340 JEFF BARNES VP BUSINESS LENDING 40.00 X 205791 0 19471 3757854 0 1173264 29 0 1 0 PROVIDENT CONSTRUCTION 12424 E WEAVER PLACE CENTENNIAL CO 80111 CONSTRUCTION 3961355 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT 1652553 FISERV PO BOX 99924 GRAPEVINE TX 76099 FINANCIAL SERVICES TECHNOLOGY 1394892 DIEBOLD GLOBAL FINANCIAL PO BOX 644399 PITTSBURGH PA 15624 ATM MAINTENANCE 1145166 STANDARD REGISTER INC PO BOX 840655 DALLAS TX 75284 STATEMENT PROCESSING 1142712 69 INCOME ON LOANS 522100 127250277 127250277 FEES/CHARGES/OTHER 522100 32401353 32401353 UNRELATED BUSINESS INCOME 523930 274579 274579 UNRELATED BUSINESS INCOME 524298 32323 32323 159958532 9347426 9347426 167449479 165806831 1642648 1642648 1642648 MSR CAPITALIZATION 522100 839827 839827 OTHER NON OPERATING 522100 457489 457489 GAIN ON INVESTMENTS 522100 49232 49232 1346548 172295154 171988252 306902 0 X 3180981 19091438 2327414 2436061 1579301 16839680 95399 557770 832598 5101829 5578289 7410963 4352793 216050 75956 17237460 4285155 207641 PROVISION FOR LOAN LOSS 21452929 LOAN SERVICING 7597385 ATM/CREDIT CARD 6948766 OTHER NONOPERATING EXPE 2215978 3503584 133125420 354728231 562559570 100000 100000 6146658 4828210 1423408 1601854 2534734215 2992642703 2613878 2011531 81523410 45330682 32535339 36192728 99117621 65356891 23586956 28072134 54293180 76486897 3109279486 3769852518 34624126 44231044 175000000 325000000 2548869961 3010728079 2758494087 3379959123 X 0 0 0 0 350785399 389893395 350785399 389893395 3109279486 3769852518 39169734 -61738 0 X X 0 1 X 1 0 13337476 13337476 23183423 9643229 13540194 7962237 5275766 2686471 24700141 18625536 6074605 12340133 11786151 553982 36192728 SHARES 659627493 SHARE DRAFTS 649840975 MONEY MARKET 669957413 CERTIFICATES 889769272 IRA ACCOUNTS 141532926 3010728079 X 172473619 178465 178465 172295154 0 172295154 133303885 0 133303885 -178465 -178465 133125420 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. 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. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (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 FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2015, 2014, AND 2013 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSSES FROMS SALES OF ASSETS REPORTED AS EXPENSES IN THE AUDITED FINANCIAL STATEMENTS BUT REPORTED NET OF REVENUE IN FORM 990. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSSES FROMS SALES OF ASSETS REPORTED AS EXPENSES IN THE AUDITED FINANCIAL STATEMENTS BUT REPORTED NET OF REVENUE IN FORM 990. X X X X 1 1 X X X X 0 1 0 DOUG FERRARO BOD MEMBER/PRESIDENT/CEO 725660 0 339000 0 5484 0 897416 0 24525 0 1992085 0 0 0 JOHN M RUBY SVP/CLO 268000 0 95025 0 1806 0 0 0 22495 0 387326 0 0 0 LEEANN DOWNEY SVP/CHIEF ADM. OFFICER 255003 0 92400 0 1290 0 25250 0 22614 0 396557 0 0 0 JOHN RIVERA SVP/CHIEF RETAIL OFFICER 267652 0 88650 0 966 0 25250 0 22495 0 405013 0 0 0 GREG LUNDSTROM COMMERCIAL BUSINESS LENDING 143527 0 371278 0 276 0 13250 0 19250 0 547581 0 0 0 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDING 138337 0 299775 0 1187 0 13250 0 22495 0 475044 0 0 0 JOHN PARGEON VP CONTROLLER 197025 0 39650 0 1623 0 0 0 15163 0 253461 0 0 0 JUAN CARLOS CAMPOS DIRECTOR- GENERAL COUNSEL/COMPLIANCE 188453 0 29400 0 596 0 11220 0 19120 0 248789 0 0 0 JEFF BARNES VP BUSINESS LENDING 171011 0 33465 0 1315 0 10224 0 9247 0 225262 0 0 0 PART I, LINE 4B DOUG FERRARO PARTICIPATES IN A NONQUALIFIED RETIREMENT PLAN. THE CREDIT UNION FUNDED THIS PLAN BY $876,667 DURING 2016. JOHN RUBY SVP/CLO MORTGAGE LOAN X 210600 153118 0 1 1 JOHN RUBY SVP/CLO LINE OF CREDIT X 500 2281 0 1 1 LEEANN DOWNEY SVP CHIEF ADM. OFFICER MORTGAGE LOAN X 357500 158336 0 0 1 JOHN RIVERA SVP/CHIEF RETAIL OFFICER MORTGAGE LOAN X 405000 401059 0 0 1 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDING MORTGAGE LOAN X 336000 310655 0 0 1 ALVIN MCCARTHY COMMERCIAL BUSINESS LENDING AUTO LOAN X 20758 14343 0 0 1 GREG LUNDSTROM COMMERCIAL BUSINESS LENDING MORTGAGE LOAN X 412750 328485 0 0 1 JUAN CARLOS CAMPOS DIRECTOR GENERAL COUNSEL/COMPLIANCE MORTGAGE LOAN X 210000 184265 0 0 1 JUAN CARLOS CAMPOS DIRECTOR GENERAL COUNSEL/COMPLIANCE AUTO LOAN X 23953 23046 0 0 1 JEFF BARNES VP BUSINESS LENDING AUTO LOAN X 46786 26266 0 0 1 1601854 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 THE DIRECTOR OF FINANCE IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. UPON COMPLETION, THE RETURN IS REVIEWED BY EXECUTIVE MANAGEMENT AND THE PRESIDENT/CEO, ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEWS AND ANY NECESSARY CORRECTIONS ARE MADE, THE RETURN IS FILED. THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C HUMAN RESOURCES IS NOTIFIED BY RISK MANAGEMENT AND OTHERS ABOUT POTENTIAL CODE OF ETHICS VIOLATIONS WHICH THEY FULLY INVESTIGATE. A DECISION IS THEN MADE CONCERNING THE ACTIONS THAT SHOULD BE TAKEN FOR THE VIOLATION. FORM 990, PART VI, SECTION B, LINE 15 MARKET DATA IS PREPARED BY THE CHIEF ADMINISTRATIVE OFFICER FOR ALL EXECUTIVE POSITIONS. SUBSTANTIATION OF THE DECISION IS GIVEN IN WRITTEN PERFORMANCE EVALUATIONS FOR ALL EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E TELEPHONE AND POSTAGE 1,804,609. MISCELLANEOUS 1,208,664. STATIONERY AND SUPPLIES 248,679. ASSOCIATION DUES 241,632. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. BELLCO FOUNDATION 7600 E ORCHARD RAOD GREENWOOD VILLAGE CO 80111 474045582 TO FURTHER BELLCO CREDIT UNION'S CHARITABLE ACTIVITIES CO 501C LINE 10 BELLCO CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BELLCO FOUNDATION B 57510 ACTUAL CASH CONTRIBUTION