2015-11-15T13:00:03-06:00 2014-12-31 841474365 Holben Hay Lake Balzer CPAs LLC 1777 S Harrison Street 1000 Denver CO 80210 990 2014-01-01 840500890 Boulder Valley Credit Union BOUL 3034428850 5505 Arapahoe Avenue Boulder CO 80303 Rick Allen President/CEO 3034428850 2015-11-05 1 Sheila M Balzer P00967957 3037592727 2014 2016-04-25 22:37:26Z Rick Allen 5505 Arapahoe Ave Boulder CO 80303 11214035 0 X www.bvcu.org X 1950 CO To promote thrift and provide lower cost credit to the members of the credit union. To promote thrift among members by affording them the opportunity to accumulate payments on shares and to make loans from these shares to its members. 7 7 114 12 11717 -5017 0 0 9802250 9561324 1627865 1630561 12129 11717 11442244 11203602 0 0 0 0 3945981 4343166 0 0 0 5338725 5376980 9284706 9720146 2157538 1483456 315259319 328670475 290280793 300682421 24978526 27988054 To promote thrift and provide lower cost credit to the members of the credit union. To promote thrift among members by affording them the opportunity to accumulate payments on shares and make loans from these shares to its members. 0 0 Provide a wide variety of financial products and services to members of the credit union. Over 24,200 members served. 0 0 0 0 0 0 0 0 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 4142 0 1 114 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 1 1 0 X The Organization 3034428850 5505 Arapahoe Avenue Boulder CO 80303 Wayne Turnacliff Chair Person 2.00 X 0 0 0 Jim Clemmer Director 2.00 X 0 0 0 Ken Black Secretary/Treasurer 2.00 X 0 0 0 Wade Payne Director 2.00 X 0 0 0 Lynel Vallier Director 2.00 X 0 0 0 Ron Reichert Director 2.00 X 0 0 0 Jeanne Tilley Vice-Chair Person 2.00 X 0 0 0 Rick Allen President/CEO 40.00 X 270466 0 13000 Claire Lindley Chief Financial Officer 40.00 X 118939 0 5947 Kimberley Morris VP Mortgage Lending 40.00 X 230229 0 10742 Brian Resch Executive Vice President 40.00 X 175890 0 8795 Jason Bauer VP of Communications & E-Commerce 40.00 X 101365 0 5068 896889 0 43552 5 0 1 0 Jack Henry & Associates 404 Camino del Rio South St 200 San Diego CA 92108 Core System 337976 Diebold Inc PO Box 643543 Pittsburgh PA 152643543 ATMs 190978 Official Payments Corp PO Box 418410 Boston MA 02241 Online banking provider 171455 Centurylink PO Box 52187 Phoenix AZ 85072 Phones/Internet 124203 4 Interest on Loans to Members 522100 6174990 6174990 Fees and Other Charges to Members 522100 1956286 1956286 Other Income 522100 1430048 1430048 9561324 1615082 1615082 25912 0 10433 25912 -10433 15479 15479 Non-Member ATM Fees 522100 11717 11717 11717 11203602 9576803 11717 1615082 881489 2502675 118261 561634 279107 15051 73297 865691 288949 80209 417136 106034 1 604090 51371 Office Operations 1053473 Interest/Dividends Paid 761796 Loan Servicing 692205 Provision for Loan Loss 233483 134194 9720146 1563838 1339000 37648609 26026024 122078038 167415834 11033745 5426123 5855918 5607622 139562165 119999286 8550751 8282709 315259319 328670475 2497728 2689070 287783065 297993351 290280793 300682421 X 0 0 3629465 3629465 21349061 24358589 24978526 27988054 315259319 328670475 X 1483456 1526071 1 X X 0 1 X 1 0 1076207 1076207 5325828 1727732 3598096 60504 60504 0 4571206 3637887 933319 5607622 Membership Capital at Corporate Credit Union 5 C Other Investments 317400 C Available-for-sale Securities 119681881 F 119999286 Members' Share and Deposit Accounts 297993351 297993351 X 11188123 0 11188123 15479 15479 11203602 9720145 0 9720145 0 9720145 Part X, Line 2: Certain products and services provided by select state chartered credit unions have been deemed by the Internal Revenue Service, in technical advice memorandums released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the technical advice memorandums the net taxable income from these products and services would be subject to income taxes. Credits unions have litigated against the Internal Revenue Service positions noted in the technical advice memorandums and have been successful in having courts declare in 2009 and 2010 that revenue from insurance products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the IRS position in the technical advice memorandums. The Credit Union had no significant tax liability for the year ended December 31, 2014. In addition, the Credit Union evaluated its tax positions and determined no uncertain tax positions exist as of December 31, 2014. Part XI, Line 4b - Other Adjustments: Gain on sale of fixed assets -10,433. Loss on sale of investments 25,912. X 1 1 X X X X 0 1 0 Rick Allen President/CEO 270466 0 0 0 0 0 13000 0 0 0 283466 0 0 0 Kimberley Morris VP Mortgage Lending 214829 0 15400 0 0 0 10742 0 0 0 240971 0 0 0 Brian Resch Executive Vice President 175890 0 0 0 0 0 8795 0 0 0 184685 0 0 0 Form 990, Part VI, Section A, line 6 Boulder Valley Credit Union is a member-owned financial cooperative that is operated for the benefit of the employees, retirees and their family members of the Boulder Valley School District, employees of Boulder Community Hospital, employees of Ball Corporation, those who work or live in Boulder and Broomfield Counties or the towns Estes Park, Glen Haven and Drake, Colorado and various approved select employee groups and their families. Form 990, Part VI, Section A, line 7a The members of the credit union annually elect the Board of Directors to serve for multiple-year terms by mailing in ballots or voting at an annual meeting. Form 990, Part VI, Section A, line 7b Various decisions made by the Board of Directors for a credit union are subject to approval by the members of the credit union as set forth in NCUA rules and regulations and applicable state regulations. Form 990, Part VI, Section B, line 11 The completed Form 990 is reviewed by the Chief Executive Officer and Chief Financial Officer prior to filing. The Chief Executive Officer is authorized to sign and file the return. Form 990, Part VI, Section B, line 12c A written acknowledgment is filled out by the officers, directors, and employees which could give rise to potential conflicts within the organization. Any potential issues are discussed with the key officers and those charged with governance for resolution. Form 990, Part VI, Section B, line 15 Performance reviews with salary consideration are done after completion of the first six months and annually thereafter upon the anniversary date. Compensation data is gathered for all positions from the Credit Union Executive Society (CUES) and from the Mountain States Employer Council. The Board of Directors mainly uses the CUES Executive Survey when evaluating the rate for the CEO/President position. The amount is then approved by the compensation committee which includes the Chairman of the Board. The CEO primarily uses CUES for the executive management positions compensation evaluation, although as noted above, survey information from Mountain States is available if requested for review by the CEO. The CEO approves all compensation decisions for top management. Form 990, Part VI, Section C, line 19 The organization's governing documents and conflict of interest policy are are available for review upon request at the credit union. Monthly financial statements are available and on display at the credit union. Quarterly financial data is accessible to the public at www.ncua.gov. Form 990, Part XI, line 9: Rounding 1. Form 990, Part XI, Line 2C Selection of the auditors and oversight of the auditors is done by the Supervisory Committee. There were no changes to the selection or oversight practices during 2014.