2017-05-19T10:50:36-05:00 2016-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2016-01-01 860929205 ALTIER CREDIT UNION ALTI 6027973000 1650 S PRIEST DRIVE TEMPE AZ 85281 DAVID SKILTON PRESIDENT/CEO 6027973000 2017-05-19 1 GERALD B KISSELL P00092658 6123324300 108.171.131.171 2017-05-19 10:13:39 CD P 85B6B56AE81AEFE38B3604F3527121AE06209A04 5C1B16AD3DD5E47BB25DC57A5B1EA987BE8BDC95 2016 2021-01-29 14:40:06Z DAVID SKILTON 1650 S PRIEST DRIVE TEMPE AZ 85281 11501952 0 2111 X WWW.ALTIERCU.ORG X 1998 AZ SHAPING A POWERFUL FINANCIAL FUTURE THROUGHOUT OUR COMMUNITIES, ONE MEMBER AT A TIME. 7 7 79 12 95407 -13711 0 0 9034700 9051062 852910 1338752 0 0 9887610 10389814 0 0 240383 310426 4276349 4313175 0 0 0 4939021 6590804 9455753 11214405 431857 -824591 184992884 189324026 170610988 175728956 14381896 13595070 SHAPING A POWERFUL FINANCIAL FUTURE THROUGHOUT OUR COMMUNITIES, ONE MEMBER AT A TIME. 0 0 CONSUMER LENDING - ALTIER CREDIT UNION PROVIDES 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 2016, THE CREDIT UNION FUNDED 6,834 NEW LOANS AND DISBURSED $81,308,748 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 2016, THE CREDIT UNION HAD 38,091 DEPOSIT ACCOUNTS AND $173,456,027 IN DEPOSIT BALANCES. OTHER CONSUMER PRODUCTS - ALTIER CREDIT UNION OFFERS DEBT CANCELLATION INSURANCE, ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE, EXTENDED VEHICLE WARRANTIES, AND ID THEFT MONITORING. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4942 0 1 79 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AZ X DAVID SKILTON 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 KATHY DANIELSON DIRECTOR 1.00 X 0 0 0 NATHAN ERICKSON DIRECTOR 1.00 X 0 0 0 GEORGE NJOCK DIRECTOR 1.00 X 0 0 0 JOSEPH NOWACZYK DIRECTOR 1.00 X 0 0 0 HARRY M MATEER JR CEO 40.00 X 800508 0 104417 DAVID SKILTON PRESIDENT/CEO 40.00 X 171116 0 64031 GREGORY LINNEBUR FINANCIAL NETWORK REP 40.00 X 151688 0 72241 1123312 0 240689 3 0 1 0 ADP PO BOX 842875 BOSTON MA 022842875 PAYROLL PROCESSING/HR MGMT 555785 DIGITAL INSIGHT CORPORATION PO BOX 515306 LOS ANGELES CA 900516606 DATA PROCESSING 459305 USERSFISERV PO BOX 80123 CITY OF INDUSTRY CA 91716 DATA PROCESSING 449715 KINNEY CONSTRUCTION SERVICES 121 E BIRCH AVE 500 FLAGSTAFF AZ 86001 CONSTRUCTION SERVICES 237232 BANCVUE PO BOX 527 LUBBOCK TX 79408 DATA PROCESSING 163783 8 INTEREST ON LOANS 522100 5807965 5807965 FEES AND CHARGES 522100 1653122 1612527 40595 CHECK PROGRAMS 522100 960422 960422 MISC. OPERATING INCOME 522100 629553 574741 54812 9051062 672284 672284 1778606 1112138 666468 666468 666468 10389814 8955655 95407 1338752 310426 1026773 2367725 238200 409931 270546 2165 206697 2354654 570401 121094 45426 359044 PROVISION FOR LOAN LOSS 1895009 LOAN SERVICING 427725 608589 11214405 1721423 10284012 817064 458111 127495512 126804582 655182 634374 9868729 2958717 6819755 6910012 566800 372900 43859984 39940744 3057164 3919291 184992884 189324026 3992945 2272929 26632 17982 166591411 173438045 170610988 175728956 X 0 0 0 0 14381896 13595070 14381896 13595070 184992884 189324026 -824591 37765 0 X 0 1 X 1 0 0 1 X 1541776 1541776 4502619 593514 3909105 923993 305733 618260 2448104 1679690 768414 452237 379780 72457 6910012 CERTIFICATE OF DEPOSITS 30600600 F COLLATERALIZED MORTGAGE OBLIGATIONS 2224926 F FEDERAL AGENCY SECURITIES 2511733 F OTHER INVESTMENTS 414610 F CATALYST INVESTMENTS 408377 F LIFE INSURANCE POLICIES 3780498 F 39940744 MEMBER SHARES 173438045 173438045 X 10569838 0 10569838 -180024 -180024 10389814 11394429 0 11394429 -180024 -180024 11214405 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. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC 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 ON EXAMINATION BY TAX AUTHORITIES. AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2016, MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFY LOSS ON DISPOSITION OF ASSETS FROM EXPENSES -474. RECLASSIFY OTHER LOSS FROM EXPENSES -179,550. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFY LOSS ON DISPOSITION OF ASSETS TO REVENUE -474. RECLASSIFY OTHER LOSS TO REVENUE -179,550. X X 0 1 0 HARRY M MATEER JR CEO 161714 0 29006 0 609788 0 88225 0 20145 0 908878 0 600000 0 DAVID SKILTON PRESIDENT/CEO 152450 0 15351 0 3315 0 53904 0 10371 0 235391 0 0 0 GREGORY LINNEBUR FINANCIAL NETWORK REP 30373 0 120560 0 755 0 48075 0 24410 0 224173 0 0 0 PART I, LINE 4B THE FOLLOWING PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN: HARRY M. MATEER, JR. - $600,000 DISBURSEMENT IN 2016. DAVID SKILTON - NO DISBURSEMENTS IN 2016. FORM 990, PART 1, LINE 6 THE 12 VOLUNTEERS REPORTED CONSIST OF THE 7 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 PRESIDENT/CEO AND THE DIRECTOR OF FINANCE, A COPY IS ALSO PROVIDED TO THE BOARD OF DIRECTORS 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).