2016-11-15T15:09:03-06:00 2015-12-31 910189318 Moss Adams LLP 8800 E Raintree Drive Ste 210 Scottsdale AZ 85260 990 2015-01-01 237124924 Deer Valley Credit Union DEER 6023757300 16215 N 28th Avenue Phoenix AZ 85053 ROBERT V SCOTT CEO 6023757300 2016-11-14 1 Patricia J Mayer P00188643 4804443424 2015 2017-02-10 21:41:12Z ROBERT V SCOTT 16215 N 28th Avenue Phoenix AZ 85053 9161962 0 X www.dvcu.org X 1971 AZ CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES. 9 9 69 12 16794 -58342 0 0 6936258 7709636 981651 929979 0 0 7917909 8639615 0 0 0 0 3163489 3705243 0 0 0 3853289 3885448 7016778 7590691 901131 1048924 204726268 210473126 187093145 191991768 17633123 18481358 CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES 0 0 THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, CONSUMER LOANS, SHARE CERTIFICATES AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 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 2878 0 1 69 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 0 0 1 1 1 1 0 AZ X Robert V Scott 6023757300 16215 N 28th Avenue Phoenix AZ 85053 ROGER ZOLLINGER Chairman 1.00 X 0 0 0 Edward Frick Secretary 1.00 X 0 0 0 Frank Martinson Director 1.00 X 0 0 0 Greg Miller Director 1.00 X 0 0 0 Doug Lapedes Director 1.00 X 0 0 0 Steve Wolfe Treasurer 1.00 X 0 0 0 Chris Urness Vice-Chair 1.00 X 0 0 0 Harold Kinch Director 1.00 X 0 0 0 Melanie Merrill Director 1.00 X 0 0 0 Robert Scott CEO 40.00 X 259825 0 11065 Janet Burgett EVP/COO 40.00 X 136963 0 6741 Gregory Albano SVP/CIO 40.00 X 108151 0 5300 Mark Trumpp VP Marketing 40.00 X 80090 0 3835 Fran Burazin CFO 40.00 X 83396 0 4062 668425 0 31003 3 0 1 0 DH PO Box 535120 Atlanta GA 30353 CORE PROCESSING SYSTEM 370599 FIS PO BOX 4535 Carol Stream IL 60197 Hosted System IT Support 309578 2 INTEREST ON LOANS 522100 5172262 5172262 Fee Income 900099 2537374 2520580 16794 7709636 940435 940435 511891 522347 -10456 -10456 -10456 8639615 8633277 16794 -10456 X 699429 2487722 98000 194354 225738 43538 59322 1352207 116644 226047 402551 63558 282573 457467 50421 Operations 556120 Provision for Loan Loss 275000 7590691 15640592 12459670 107158503 125661666 15454074 4201903 11666158 11252171 56306430 53992545 13954585 7107074 204726268 210473126 1764457 1989885 185328688 190001883 187093145 191991768 X 0 0 0 0 17633123 18481358 17633123 18481358 204726268 210473126 1048924 -200690 0 X 0 1 X 1 0 5255764 5255764 8891350 3104101 5787249 1306960 1097802 209158 11252171 Available for Sale 30237315 F Federal home Loan Bank Stock 777600 C Other Investments 6303630 C Held to Maturity 16674000 C 53992545 Accrued Interest Payable 9899 Money Market Accounts 39928526 Share and IRA Certificates 30949623 Share Draft Accounts 47126248 SHARES 71987587 190001883 8449382 -200690 10457 -190233 8639615 0 8639615 7601147 10456 10456 7590691 0 7590691 Part XI, Line 2d - Other Adjustments: Reclass loss on sale Part XII, Line 2d - Other Adjustments: Reclass loss on sale X 1 1 X X 0 1 0 Robert Scott CEO 221307 0 35000 0 3518 0 11065 0 0 0 270890 0 0 0 Janet Burgett EVP/COO 134813 0 2150 0 0 0 6741 0 0 0 143704 0 0 0 Part I, Line 1a In general, all expenses related to travel and conferences (including travel days before and after event) are reimbursable to the employee or volunteer. The expense must be usual and customary including airfare, ground travel expenses while at the meeting such as taxi/shuttle/car rental, parking, telephone, tips, food and entertainment (that is part of the organized event). Spousal expenses are reimbursable for volunteer and senior management travel and are not treated as taxable income. Part I, Line 4b Robert Scott - $0 Janet Burgett - $0 Form 990, Part VI, Section A, line 6 Members elect the board of directors - one member equals one vote. Governing body (board of directors) makes significant decisions. Form 990, Part VI, Section A, line 7a MEMBERS ELECT THE BOARD OF DIRECTORS. EACH MEMBER HAS ONE VOTE. Form 990, Part VI, Section B, line 11 The return is reviewed by the CEO before filing. Form 990, Part VI, Section B, line 15 THE CHAIRMAN OF THE BOARD OF DIRECTORS RESEARCHES APPROPRIATE CEO COMPENSATION BY EXAMINING INDUSTRY STATISTICS AND OTHER COMPARABLE CREDIT UNION DATA FOR CREDIT UNIONS OF COMPARABLE MEMBERSHIP SIZE AND IN COMPARABLE METROPOLITAN AREAS. THE CHAIRMAN THEN PRESENTS HIS FINDINGS AND RECOMMENDATION TO THE BOARD OF DIRECTORS WHICH THEN VOTES TO DETERMINE THE CEO'S COMPENSATION. MINUTES ARE KEPT FOR THIS ANNUAL COMPENSATION MEETING. THIS PROCESS IS REPEATED EACH YEAR IN OCTOBER. THE CEO DETERMINES SENIOR TEAM COMPENSATION. THE CEO UTILIZES SOFTWARE FROM A THIRD-PARTY COMPENSATION CONSULTANT TO STATISTICALLY DETERMINE APPROPRIATE COMPENSATION FOR SENIOR TEAM MEMBERS AT ALL LEVELS. THE CEO ALSO EXAMINES AGREED UPON ANNUAL PERFORMANCE PLANS, GOALS AND PERFORMANCE RESULTS. ALL DATA IS SAVED IN THE SOFTWARE. THIS PROCESS IS REPEATED EACH YEAR IN JANUARY. Form 990, Part VI, Section C, line 19 Financial statements are posted in the branch lobby. Form 990, Part IX, line 11g IT Related 613,363. Visa Card Costs 460,162. Share Draft Expenses 120,675. Shared Branching Costs 66,290. Credit/Debit Cards 18,940. Consulting Services 43,732. Record Retention Expenses 6,221. ATM Related Expenses 9,898. IRA Administration 9,091. ACH Fees 3,835.