2013-11-15T12:14:48-06:00 2012-12-31 841474365 Holben Hay Lake Balzer CPAs LLC 1777 S Harrison Street 1000 Denver CO 80210 990 2012-01-01 840459116 Elevations Credit Union ELEV 3034434672 PO Box 9004 Boulder CO 803019004 Michael Calcote 3034434672 2013-11-15 1 Sheila M Balzer P00967957 3037592727 2012 2016-02-25 16:41:14Z Gerry Agnes PO Box 9004 Boulder CO 803019004 727358945 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 8 415 13 117145 -3503 0 0 45506723 48034302 8320129 18030247 2760322 2270045 56587174 68334594 0 0 0 0 20922366 26774841 0 0 0 26728168 31017699 47650534 57792540 8936640 10542054 1143995462 1285023241 1038834956 1166771498 105160506 118251743 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 0 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 99,070 MEMBERS AND 121,356 SHARE ACCOUNTS. THERE WERE 9,834 LOANS GRANTED TOTALING $850,220,552. ELEVATIONS CURRENTLY OFFERS TEN 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 0 0 0 0 1 0 0 0 0 0 1 0 0 1 23020 0 1 415 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 1 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 X CARROLL BEACH 4.00 X 0 0 0 KATIE LARSON 3.00 X 0 0 0 JIM MENGHI 3.00 X 0 0 0 TODD GLEESON 3.00 X 0 0 0 ERIC JONES 3.00 X 0 0 0 CAROL KRISMANN 3.00 X 0 0 0 NANCY HERBERT 3.00 X 0 0 0 DON CHEYNE 3.00 X 0 0 0 GERRY AGNES 40.00 X 619764 0 277086 MICHAEL CALCOTE 40.00 X 343087 0 121905 JAY CHAMPION 40.00 X 339708 0 96851 ANNETTE MATTHIES 40.00 X 239834 0 18043 TODD KERN 40.00 X 225307 0 22134 MARY ANN KAMMERER 40.00 X 235317 0 22633 CAMERON WHITE-FORD 40.00 X 705622 0 21952 MICHAEL ROTH 40.00 X 479778 0 22150 GREG ROLLER 40.00 X 438266 0 22362 ELIZABETH MILLION 40.00 X 427134 0 17219 JOEL BEYER 40.00 X 399554 0 20492 4453371 0 662827 42 0 1 0 COESTER APPRAISAL 7361 CALHOUN PL 505 ROCKVILLE MD 20855 APPRAISALS 1000855 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 CORE SYSTEM 989376 URBAN LENDING 11802 RIDGE PKWY 200 BROOMFIELD CO 80021 APPRAISALS/PROCESSING 836227 OUTPUT SERVICES 6410 ODELL PL BOULDER CO 80301 STATEMENT MAILING 552166 DIEBOLD INCORPORATED PO BOX 643543 PITTSBURGH PA 15264 ATM/CDM MAINTENANCE 504776 38 INTEREST ON LOANS TO M 522100 33544296 33544296 INTERCHANGE INCOME 522100 9005024 9005024 FEES AND SERVICE CHARGES 522100 5367837 5367837 UNRELATED BUSINESS INCOME 900099 117145 117145 48034302 6210924 6210924 670843674 659024351 11819323 11819323 11819323 OTHER INCOME 522100 2270045 2270045 2270045 68334594 62006525 117145 6210924 2003017 20170749 631116 2456261 1513698 82125 297616 1458383 2160403 8627668 128620 2840705 486903 2249673 227013 LOAN SERVICING EXPENSE 3904078 INTEREST/DIVIDENDS PAID 3716474 PROVISION FOR LOAN LOSS 3169905 CORPORATE CREDIT UNION 966123 702010 57792540 8974506 9157750 91042001 208155265 7229988 4950138 677998195 658693653 1193916 1391269 43611660 21125960 23266084 22485700 295460088 328825795 904000 427000 5714962 5652582 32211722 45284089 1143995462 1285023241 18733408 18668209 5542796 8965168 1014558752 1139138121 1038834956 1166771498 X 0 0 11879720 11879720 93280786 106372023 105160506 118251743 1143995462 1285023241 10542054 2549183 0 X X 0 1 X 1 0 0 1 4576352 4576352 16020931 4675647 11345284 3263009 2051040 1211969 19751368 14399273 5352095 22485700 REGULAR SHARES 270816681 SHARE DRAFT ACCOUNTS 297567675 MONEY MARKET ACCOUNTS 367368515 CERTIFICATES 193753133 IRA SHARES 9632117 1139138121 X 68334594 0 68334594 0 68334594 57792540 0 57792540 0 57792540 Description of Uncertain Tax Positions Under FIN 48: 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) 190627 SUPPORT SCHOLARSHIPS, ETC. 1 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 0 1 0 GERRY AGNES 446397 0 173367 0 0 0 263625 0 13461 0 896850 0 0 0 MICHAEL CALCOTE 235207 0 107880 0 0 0 110000 0 11905 0 464992 0 0 0 JAY CHAMPION 235918 0 103790 0 0 0 85000 0 11851 0 436559 0 0 0 ANNETTE MATTHIES 173660 0 66174 0 0 0 9847 0 8196 0 257877 0 0 0 TODD KERN 163232 0 62075 0 0 0 9229 0 12905 0 247441 0 0 0 MARY ANN KAMMERER 169050 0 66267 0 0 0 9643 0 12990 0 257950 0 0 0 CAMERON WHITE-FORD 0 0 2248 0 703374 0 10000 0 11952 0 727574 0 0 0 MICHAEL ROTH 0 0 2898 0 476880 0 10000 0 12150 0 501928 0 0 0 GREG ROLLER 0 0 2923 0 435343 0 10000 0 12362 0 460628 0 0 0 ELIZABETH MILLION 27231 0 2992 0 396911 0 10000 0 7219 0 444353 0 0 0 JOEL BEYER 0 0 2248 0 397306 0 10000 0 10492 0 420046 0 0 0 Part I, Line 4b GERRY AGNES (ACCRUED BENEFIT OF $1,083,333 AS OF 12/31/12), MICHAEL CALCOTE (ACCRUED BENEFIT OF $154,167 AS OF 12/31/12), ANNETTE MATTHIES (ACCRUED BENEFIT OF $77,083 AS OF 12/31/12), JAY CHAMPION (ACCRUED BENEFIT OF $115,625 AS OF 12/31/12), TODD KERN (ACCRUED BENEFIT OF $54,167 AS OF 12/31/12), AND MARY ANN KAMMERER (ACCRUED BENEFIT OF $45,139 AS OF 12/31/12) ELEVATIONS FOUNDATION FOUNDATION BOARD CONSISTS OF CREDIT UNION MANAGEMENT AND DIRECTORS 190627 CONTRIBUTION FROM CREDIT UNION TO FOUNDATION 0 Form 990, Part VI, Section A, line 4 THE CREDIT UNION AMENDED ITS CHARTER ADDING LARIMER AND ADAMS COUNTIES IN THE STATE OF COLORADO TO ITS FIELD OF MEMBERSHIP. 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, 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. COMPENSATION OF MORTGAGE ORIGINATORS SCHEDULE J, PART II, SECTION A THE CREDIT UNION HAD RECORD SUCCESS IN 2012 IN ORIGINATING MORTGAGE LOANS FOR ITS MEMBERS, AND WAS THE #1 MORTGAGE LOAN ORIGINATOR IN ITS MARKETPLACE. THE COMPENSATION INFORMATION REPORTED ON PAGE 7 AND SCHEDULE J FOR THE LISTED MORTGAGE POSITIONS, WHO ARE PAID INCENTIVES FOR MORTGAGE LOAN PRODUCTION, IS REFLECTIVE OF THIS SUCCESS. 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 2012. 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 190627