2015-11-10T07:38:52-00:00 2014-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2014-01-01 840146595 BELLCO CREDIT UNION BELL 3036897800 PO BOX 6611 GREENWOOD VILLAGE CO 801556611 DOUGLAS FERRARO CEO 2015-11-10 true DOUGLAS ORTH 3052328272 2015-11-10 2014 2016-02-25 16:41:14Z DOUGLAS FERRARO 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 146857108 false 1948 X WWW.BELLCO.ORG X CREDIT UNION 1936 CO SEE SCHEDULE O 10 9 522 11 386045 0 122982102 130098773 6039799 5297245 1928564 487033 130950465 135883051 0 0 28952469 25961551 0 0 82013212 76740818 110965681 102702369 19984784 33180682 2465882983 2738746371 2190876970 2429219001 275006013 309527370 X SEE SCHEDULE O false false 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. false false false false false false false false false true false false false true true true false false false false false false false false false false false false true false true false false false false false false false false false false false false false true 98927 0 true 522 true true true false false false false false X 10 9 false false false false true true true true true false false false true true true true true true true false X DAN KAMPEN 3036897800 7600 E ORCHARD ROAD STE 400N GREENWOOD VILLAGE CO 80111 S BRAYMAN BOD/DIRECTOR 004.00 004.00 X 0 0 0 J PRANCAN BOD/SECRETARY 005.00 005.00 X 0 0 0 D POWERS BOD/DIRECTOR 004.00 004.00 X 0 0 0 W FLEMING BOD/CHAIRMAN 005.00 005.00 X 0 0 0 J DOWNS BOD/TREASURER 005.00 005.00 X 0 0 0 S KREIS BOD/DIRECTOR 004.00 004.00 X 0 0 0 A MURRAY BOD/DIRECTOR 004.00 004.00 X 0 0 0 S ANGELIER BOD/V. CHAIRMAN 005.00 005.00 X 0 0 0 CD KIKUMOTO SUP COMM/MEMBER 002.00 002.00 X 0 0 0 L SONDERUP BOD/DIRECTOR 004.00 004.00 X 0 0 0 D FERRARO PRES/CEO/DIRECTOR 040.00 040.00 X X 888727 0 480840 S BLODGETT SUP COMM/MEMBER 002.00 002.00 X 0 0 0 J RUBY SVP/CLO 040.00 040.00 X 288239 0 42442 S SAGEHORN-ELLIOTT SVP/COO 040.00 040.00 X 383982 0 31386 J RIVERA VP BRANCH SALES SERVICE 040.00 040.00 X 241146 0 36695 T STONEBRAKER VP RETAIL LENDING 040.00 040.00 X 429597 0 20251 L DOWNEY SVP/ORGANIZATIONAL DEVELOPMENT 040.00 040.00 X 278461 0 44363 G LUNDSTROM COMMERCIAL BUSINESS OFFICER 040.00 040.00 X 254188 0 26684 A MCCARTHY COMMERCIAL BUSINESS OFFICER 040.00 040.00 X 244610 0 27076 3008950 709737 30 false true false STANDARD REGISTER 7070 SW FIR LOOP TIGARD OR 97223 DATA PROCESSING 1035861 PROVIDENT CONSTRUCTION GROUP INC 12424 E WEAVER PL CENTENNIAL CO 80111 CONSTRUCTION 2262584 THE ROCHDALE GROUP 8575 W 110th ST OVERLAND PARK KS 66210 CONSULTING 788172 OPEN SOLUTIONS INC 255 FISERV DRIVE BROOKFIELD WI 53045 DATA PROCESSING 1181912 DIEBOLD INCORPORATED 5995 MAYFAIR ROAD CANTON OH 44720 ATM LEASING AND MAINTENANCE 2118647 54 INCOME ON LOANS 522100 103505917 103505917 FEES/CHARGES/OTHER 522100 26207187 26207187 UNRELATED BUSINESS INCOME 524298 385669 385669 130098773 5246571 5246195 376 11024731 10974057 50674 50674 50674 MSR CAPITALIZATION 522210 90819 90819 GAIN ON STOCK INVESTMENT 522100 396214 396214 487033 135883051 135497006 386045 0 0 0 0 2115616 2115616 0 18233259 18233259 1461314 1461314 2606705 2606705 1544657 1544657 12215882 12215882 70341 70341 489714 489714 0 0 729395 729395 4083592 4083592 4938989 4938989 6614014 6614014 0 4111274 4111274 425006 425006 0 114966 114966 8714839 8714839 0 4108488 4108488 199700 199700 SEE ATTACHED SCHEDULE 29924618 29924618 0 102702369 102702369 257978570 303597478 100000 100000 3414499 3903419 1485578 1615159 1881322016 2155026368 1650286 1950488 68525642 38882545 28594914 29643097 236330494 184682783 13208668 14246579 41797958 43981000 2465882983 2738746371 22879230 22195459 64899157 175000000 2103098583 2232023542 2190876970 2429219001 X 275006013 309527370 275006013 309527370 2465882983 2738746371 33180682 1340675 X false true X true false false 13337476 13337476 17197604 8537124 8731401 6755150 4666728 2952633 19299780 12403925 3204553 11935632 10146062 1417034 29643097 Financial derivatives and other financial products Closely-held equity interests Federal income taxes SHARES 503154694 SHARE DRAFTS 461452822 MONEY MARKET 643501997 CERTIFICATES 477660776 IRA ACCOUNTS 146253253 2232023542 X 135803419 -79632 -79632 135883051 135883051 102622737 102622737 79632 79632 102702369 X 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 501C14. 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 UNIONS 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 2013, 2012, AND 2011 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. XI 2D LOSSES ASSOCIATED WITH FORWARD SALE DERIVATIVES THESE ARE NOT ACTUAL SALES OF ROUGHLY 66,000 PLUS OTHER LOSSES NOT ASSOCIATED WITH THE SALE OF ASSETS. XII 4B LOSSES ASSOCIATED WITH FORWARD SALE DERIVATIVES THESE ARE NOT ACTUAL SALES OF ROUGHLY 66,000 PLUS OTHER LOSSES NOT ASSOCIATED WITH THE SALE OF ASSETS. X X X X true true X X X X true true false D FERRARO PRES/CEO/DIRECTOR 664489 220000 4238 459300 21540 1369567 J RUBY SVP/CLO 243508 44000 731 21151 21291 330681 J RIVERA VP BRANCH SALES SERVICE 202899 38000 247 15404 21291 277841 T STONEBRAKER VP RETAIL LENDING 390223 39000 374 13166 7085 449848 S SAGEHORN-ELLIOTT SVP/COO 339825 44000 157 17767 13619 415368 L DOWNEY SVP/ORGANIZATIONAL DEVELOPMENT 235709 42000 452 25446 18917 322524 G LUNDSTROM COMMERCIAL BUSINESS OFFICER 91476 162577 135 5263 21421 280872 A MCCARTHY COMMERCIAL BUSINESS OFFICER 91380 152559 671 5785 21291 271686 Part I Line 4a SANDRA SAGEHORN ELLIOT RECEIVED 28,846 IN SEVERANCE. Part I Line 4b DOUG FERRARO PARTICIPATES IN A NONQUALIFIED RETIREMENT PLAN 438,800. Part I Line 4a T. STONEBRAKER RECEIVED 172,260 IN SEVERENCE. Part I Line 4b T. STONEBRAKER RECEIVED A PAYOUT FROM A NONQUALIFIED RETIREMENT PLAN OF 123,959 JOHN RUBY EMPLOYEE MORTGAGE LOAN X 210600 164434 false true true JOHN RUBY EMPLOYEE LINE OF CREDIT X 500 2821 false true true LEEANN DOWNEY EMPLOYEE MORTGAGE LOAN X 357500 281588 false false true SANDRA SAGEHORN-ELLIOTT EMPLOYEE MORTGAGE LOAN X 312800 301080 false false true JOHN RIVERA EMPLOYEE MORTGAGE LOAN X 304000 280039 false false true ALVIN MCCARTHY EMPLOYEE MORTGAGE LOAN X 336000 325792 false false true GREG LUNDSTROM EMPLOYEE MORTGAGE LOAN X 249500 237180 false false true GREG LUNDSTROM EMPLOYEE AUTO LOAN X 22925 22225 false false true 1615159 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 BODYS 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 11 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 15A MARKET DATA IS PREPARED BY THE SVP OF ORGANIZATIONAL DEVELOPMENT 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 UNIONS GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. Form 990, Part I, Line 1 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. Form 990, Part III, Line 1 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.