2014-11-06T15:41:13-06:00 2013-12-31 841474365 Holben Hay Lake Balzer CPAs LLC 1777 S Harrison Street 1000 Denver CO 80210 990 2013-01-01 840459116 Elevations Credit Union ELEV 3034434672 PO Box 9004 Boulder CO 803019004 Michael Calcote CFO 3034434672 2014-11-06 1 Sheila M Balzer P00967957 3037592727 2013 2015-11-30 17:44:51Z Gerry Agnes PO Box 9004 Boulder CO 803019004 641752078 0 X WWW.ELEVATIONSCU.COM X CREDIT UNION 1952 CO WE PROVIDE SOLUTIONS FOR A BETTER LIFE. THE CREDIT UNION PROMOTES THRIFT AND PROVIDES LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. THE CREDIT UNION PROMOTES THRIFT AMONG MEMBERS BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS. 8 8 419 13 116353 -6778 0 0 48034302 45971287 18030247 20602290 2270045 3077105 68334594 69650682 0 78200 0 0 26774841 30605801 0 0 0 31017699 29616878 57792540 60300879 10542054 9349803 1285023241 1365989525 1166771498 1241528247 118251743 124461278 X WE PROVIDE SOLUTIONS FOR A BETTER LIFE. THE CREDIT UNION PROMOTES THRIFT AND PROVIDES LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. THE CREDIT UNION PROMOTES THRIFT AMONG MEMBERS BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS. 0 0 ELEVATIONS SERVES BOULDER, BROOMFIELD, LARIMER, AND ADAMS COUNTIES, THE CITY OF LOVELAND AND THESE US CENSUS TRACTS IN THE CITY OF WESTMINSTER: 1) 8001008528, 2) 8001009325, 3) 8001009408, 4) 8001009409, 5) 8059009826, 6) 8059009825 AND OFFERS A FULL ARRAY OF PRODUCTS AND SERVICES INCLUDING DEPOSITORY AND LOAN PRODUCTS, ATM/DEBIT PROGRAM, FINANCIAL EDUCATION, INSURANCE AND INVESTMENT SALES. WE ENDED THE YEAR WITH 102,686 MEMBERS AND 126,434 SHARE ACCOUNTS. THERE WERE 10,932 LOANS GRANTED TOTALING $786,820,552. ELEVATIONS CURRENTLY OFFERS NINE BRANCH LOCATIONS AND A WIDE ARRAY OF REMOTE OPTIONS THROUGH OUR COOPERATION WITH THE COOP ATM NETWORK, CREDIT UNION SERVICE NETWORK AND ONLINE BANKING OFFERINGS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 0 0 0 0 0 1 0 0 1 19610 0 1 419 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X STEVEN SCHMIDLE 3034434672 PO BOX 9004 BOULDER CO 803019004 CARROLL BEACH BOARD OF DIRECTORS - CHAIR 4.00 X 0 0 0 KATIE LARSON BOARD OF DIRECTORS - VICE 3.00 X 0 0 0 JIM MENGHI BOARD OF DIRECTORS - TREAS 3.00 X 0 0 0 TODD GLEESON BOARD OF DIRECTORS 3.00 X 0 0 0 ERIC JONES BOARD OF DIRECTORS 3.00 X 0 0 0 CAROL KRISMANN BOARD OF DIRECTORS 3.00 X 0 0 0 NANCY HERBERT BOARD OF DIRECTORS - SECRE 3.00 X 0 0 0 DON CHEYNE BOARD OF DIRECTORS 3.00 X 0 0 0 GERRY AGNES PRESIDENT/CEO 40.00 X 1820842 0 290207 MICHAEL CALCOTE CFO 40.00 X 360258 0 124116 JAY CHAMPION CMSLO 40.00 X 347206 0 98954 ANNETTE MATTHIES CHIEF HUMAN RESOURCES OFFI 40.00 X 230344 0 68568 TODD KERN CHIEF MARKETING OFFICER 40.00 X 229894 0 70349 MARY ANN KAMMERER CHIEF PRODUCT OFFICER 40.00 X 221448 0 64639 CAMERON WHITE-FORD MORTGAGE SALES MANAGER 40.00 X 697521 0 22423 MICHAEL ROTH MORTGAGE LOAN ORIGINATOR 40.00 X 485403 0 22366 GREG ROLLER MORTGAGE LOAN ORIGINATOR 40.00 X 435312 0 22366 ELIZABETH MILLION AVP MORTGAGE SALES 40.00 X 427152 0 17989 LAURI LARSON MORTGAGE LOAN ORIGINATOR 40.00 X 476566 0 15198 5731946 0 817175 53 0 1 0 FIDELITY ROOSEVELT BLVD ST PETERSBURG FL 33716 CARD PROCESSING 3092681 URBAN LENDING 11802 RIDGE PKWY STE 200 BROOMFIELD CO 80021 LOAN PROCESSING 1529945 DOVENMUEHLE MORTGAGE 1 CORPORATE DR STE 360 LAKE ZURICH IL 60047 LOAN SERVICING 1022553 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 94063 ONLINE BANKING 757577 DIEBOLD INCORPORATED PO BOX 643543 PITTSBURGH PA 15264 ATM/CDM MAINTENANCE 651242 37 INTEREST ON LOANS TO MEMBERS 522100 30870648 30870648 INTERCHANGE INCOME 522100 9372210 9372210 FEES AND SERVICE CHARGES 522100 5612076 5612076 UNRELATED BUSINESS INCOME 900099 116353 116353 45971287 6347901 6347901 1073926 585281859 973958 571127438 99968 14154421 14254389 14254389 OTHER INCOME 522100 3077105 3077105 3077105 69650682 63186428 116353 6347901 78200 3209992 21997511 758139 2893425 1746734 88704 289931 1094683 2394961 8367776 110612 2265638 849503 2759158 227559 LOAN SERVICING EXPENSE 4255608 INTEREST/DIVIDENDS PAID 3191085 PROVISION FOR LOAN LOSS 2033440 CORPORATE CREDIT UNION 889911 798309 60300879 9157750 10336780 208155265 139836782 4950138 3771293 658693653 703282167 1391269 1349449 45174067 23866634 22485700 21307433 328825795 434259751 427000 1243325 5652582 5652582 45284089 44949963 1285023241 1365989525 18668209 10244788 8965168 12684626 1139138121 1218598833 1166771498 1241528247 X 0 0 11879720 11879720 106372023 112581558 118251743 124461278 1285023241 1365989525 9349803 -3140268 0 X X 0 1 X 1 0 0 1 4576352 4576352 16099648 5231570 10868078 3263009 2234203 1028806 21235058 16400861 4834197 21307433 REGULAR SHARES 323457776 SHARE DRAFT ACCOUNTS 330311008 MONEY MARKET ACCOUNTS 375923458 CERTIFICATES 176850211 IRA SHARES 12056380 1218598833 X 69650682 0 69650682 0 69650682 60300879 0 60300879 0 60300879 Part X, Line 2: 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. AS A RESULT OF ADOPTING ASC 740-10-25, THE CREDIT UNION HAS ASSESSED ITS 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 2011, 2010 AND 2009 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. 1 ELEVATIONS FOUNDATION PO BOX 9004 BOULDER CO 80301 273484142 501(c)(3) 78200 SUPPORT SCHOLARSHIPS, ETC. Part I, Line 2: THE CREDIT UNION RECEIVES AN ANNUAL REPORT FROM THE FOUNDATION INDICATING WHERE THE FUNDS HAVE BEEN DISTRIBUTED. X 1 1 X X X 0 1 0 GERRY AGNES PRESIDENT/CEO 465402 0 105440 0 1250000 0 275353 0 14854 0 2111049 0 1250000 0 MICHAEL CALCOTE CFO 283487 0 76771 0 0 0 111650 0 12466 0 484374 0 0 0 JAY CHAMPION CMSLO 271595 0 75611 0 0 0 86288 0 12666 0 446160 0 0 0 ANNETTE MATTHIES CHIEF HUMAN RESOURCES OFFI 187509 0 42835 0 0 0 60183 0 8385 0 298912 0 0 0 TODD KERN CHIEF MARKETING OFFICER 183261 0 46633 0 0 0 60118 0 10231 0 300243 0 0 0 MARY ANN KAMMERER CHIEF PRODUCT OFFICER 176221 0 45227 0 0 0 51384 0 13255 0 286087 0 0 0 CAMERON WHITE-FORD MORTGAGE SALES MANAGER 36000 0 661521 0 0 0 10200 0 12223 0 719944 0 0 0 MICHAEL ROTH MORTGAGE LOAN ORIGINATOR 0 0 485403 0 0 0 10200 0 12166 0 507769 0 0 0 GREG ROLLER MORTGAGE LOAN ORIGINATOR 0 0 435312 0 0 0 10200 0 12166 0 457678 0 0 0 ELIZABETH MILLION AVP MORTGAGE SALES 96973 0 330179 0 0 0 10200 0 7789 0 445141 0 0 0 LAURI LARSON MORTGAGE LOAN ORIGINATOR 0 0 476566 0 0 0 10200 0 4998 0 491764 0 0 0 Part I, Line 4b GERRY AGNES (ACCRUED BENEFIT OF $265,153 AS OF 12/31/13), MICHAEL CALCOTE (ACCRUED BENEFIT OF $257,852 AS OF 12/31/13), ANNETTE MATTHIES (ACCRUED BENEFIT OF $128,926 AS OF 12/31/13), JAY CHAMPION (ACCRUED BENEFIT OF $193,389 AS OF 12/31/13), TODD KERN (ACCRUED BENEFIT OF $105,677 AS OF 12/31/13), MARY ANN KAMMERER (ACCRUED BENEFIT OF $88,064 AS OF 12/31/13), AND EVA GAUDIO (ACCRUED BENEFIT OF $228,263 AS OF 12/31/13) CAMERON WHITE-FORD MORTGAGE SALES MANAGER FIRST MORTGAGE X 417000 400837 0 1 1 CAMERON WHITE-FORD MORTGAGE SALES MANAGER FIRST MORTGAGE X 148125 137680 0 1 1 MICHAEL ROTH MORTGAGE LOAN ORIGINATOR FIRST MORTGAGE X 379050 361236 0 1 1 MICHAEL ROTH MORTGAGE LOAN ORIGINATOR VISA X 7522 305 0 1 1 GREG ROLLER MORTGAGE LOAN ORIGINATOR FLEXLINE PLUS X 85934 85030 0 1 1 GREG ROLLER MORTGAGE LOAN ORIGINATOR FIRST MORTGAGE X 106500 98760 0 1 1 GREG ROLLER MORTGAGE LOAN ORIGINATOR VISA X 17504 509 0 1 1 GERRY AGNES CEO AUTOMOBILE X 30375 17394 0 1 1 GERRY AGNES CEO AUTOMOBILE X 25716 15349 0 1 1 GERRY AGNES CEO VISA X 29693 17641 0 1 1 JAY CHAMPION CMSLO AUTOMOBILE X 26200 18396 0 1 1 JAY CHAMPION CMSLO AUTOMOBILE X 38811 24721 0 1 1 JAY CHAMPION CMSLO FLEXLINE PLUS X 178700 178700 0 1 1 JAY CHAMPION CMSLO VISA X 25000 9286 0 1 1 ANNETTE MATTHIES CHRO FIRST MORTGAGE X 386000 339944 0 1 1 GERRY AGNES CEO FIRST MORTGAGE X 1182400 1174924 0 1 1 MICHAEL CALCOTE CFO FIRST MORTGAGE X 415000 336092 0 1 1 JAY CHAMPION CMSLO FIRST MORTGAGE X 556000 546351 0 1 1 MARYANN KAMMERER CPO AUTOMOBILE X 23919 18603 0 1 1 3781758 ELEVATIONS FOUNDATION FOUNDATION BOARD CONSISTS OF CREDIT UNION MANAGEMENT AND DIRECTORS 78200 CONTRIBUTION FROM CREDIT UNION TO FOUNDATION 0 Form 990, Part VI, Section A, line 6 ELEVATIONS CREDIT UNION IS A MEMBER-OWNED COOPERATIVE OPERATED FOR THE BENEFIT OF INDIVIDUALS LIVING OR WORKING IN THE COUNTIES OF BOULDER, BROOMFIELD, LARIMER, AND ADAMS, THE CITY OF LOVELAND, COLORADO, SPECIFICALLY DEFINED COMMUNITIES IN WESTMINSTER, EMPLOYEES, RETIREES OR STUDENTS OF THE UNIVERSITY OF COLORADO-BOULDER OR NAROPA UNIVESITY, VARIOUS SELECT EMPLOYEE GROUPS AND THEIR FAMILIES. 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, AS VACANCIES ARISE OR OTHERWISE. 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 ACCOUNTING MANAGER AND VP OF FINANCE PROVIDE NECESSARY RESEARCH AND DATA TO THE PREPARERS OF THE FORM 990. THE VP OF FINANCE AND THE CFO REVIEW THE FORM 990; THE BOARD OF DIRECTORS ARE ALSO PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO FILING. Form 990, Part VI, Section B, line 12c A WRITTEN ACKNOWLEDGMENT IS FILLED OUT EACH YEAR 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 HUMAN RESOURCES CONDUCTS A COMPREHENSIVE COMPENSATION MARKET ANALYSIS USING THREE DIFFERENT RESOURCES. Form 990, Part VI, Section C, line 19 FILING OF 5300 CALL REPORT DATA IS AVAILABLE TO THE PUBLIC AT WWW.NCUA.GOV. ANNUAL REPORTS ARE AVAILABLE FOR VIEWING ON THE CREDIT UNION'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. 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 2013. ELEVATIONS FOUNDATION PO BOX 9004 BOULDER CO 80301 273484142 COLLECT/DISTRIBUTE FUNDS TO SUPPORT CAUSES IN AREAS SERVED BY CREDIT UNION CO 3 170(b)(A)(vi) 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ELEVATIONS FOUNDATION B 78200