2013-09-27T18:48:31-05:00 2012-12-31 841474365 Holben Hay Lake Balzer CPAs LLC 1777 S Harrison Street 1000 Denver CO 80210 990 2012-01-01 840188017 Credit Unions Chartered in Colorado 20 Westerra Credit Union CRED 3033214209 3700 East Alameda Ave Denver CO 802093100 Jennifer Meyers 7209213066 2013-09-27 1 Sheila M Balzer P00967957 3037592727 2012 2016-02-25 16:41:14Z BETSY GUERRERO 3700 EAST ALAMEDA AVE DENVER CO 80209 83634479 0 X WWW.WESTERRACU.COM X 1934 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 7 297 12 28800 0 0 0 50029251 46505098 5612615 5646022 46499 205185 55688365 52356305 0 0 0 0 14548056 15470434 0 0 0 35898883 29100697 50446939 44571131 5241426 7785174 1192007930 1229426943 1055250424 1084561544 136757506 144865399 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. 0 0 Provide a wide variety of financial products and services to the members of the Credit Union. Over 79,000 members served. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 1 1 1 0 1 17806 0 1 297 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X THE CREDIT UNION 3033214209 3700 EAST ALAMEDA AVE DENVER CO 802093100 JAMES KULLHEM 2.00 X 0 0 0 LARRY OTTELE 2.00 X 0 0 0 KARIN A RIGGINS 2.00 X 0 0 0 WILLIAM S ABBEY 2.00 X 0 0 0 BARRY BEAL JR 2.00 X 0 0 0 KATHY BETTS 2.00 X 0 0 0 ANDY RAICEVICH 2.00 X 0 0 0 C ALAN PEPPERS 40.00 X 699341 0 80461 JOHN MCCLOY 40.00 X 239227 0 106043 DUANE BRUNO 40.00 X 387616 0 78646 BETSY GUERRERO 40.00 X 237484 0 108999 JOY MANTELLI 40.00 X 151413 0 16222 LEE DAMIANO 40.00 X 148049 0 45351 LAURIE JENSEN 40.00 X 147769 0 47898 JENNIFER MEYERS 40.00 X 140728 0 55237 HELEN RANDALL 40.00 X 141558 0 20692 2293185 0 559549 9 0 1 0 CRESA PARTNERS-DENVER INC 1515 ARAPAHOE ST305 DENVER CO 80202 BUILDING MANAGEMENT 326874 LONG VIEW SYSTEMS CORPORATION (USA) 555 17 STSTE 1600 DENVER CO 80202 SERVER VIRTUALIZATION CONSULTANT SERVICE 218876 SEMPLE FARRINGTON & EVERALL PC 1120 LINCOLN ST 1308 DENVER CO 80203 LEGAL 217461 GB PROTECT INC 23 INVERNESS WAY EAST STE 130 ENGLEWOOD CO 80112 SECURITY MONITORING SERVICES 145141 ALM FIRST FINANCIAL ADVISORS LLC 2911 TURTLE CREEK BLVD STE 500 DALLAS TX 75219 ALM CONSULTANTS 130310 7 INTEREST ON LOANS TO M 522100 38476266 38476266 OTHER INCOME 522100 4986793 4986793 FEES AND CHARGES 522100 3042039 3042039 46505098 4062940 4062940 816641 640256 176385 176385 176385 32221000 30637918 1583082 1583082 1583082 Management Fee Income from Wester 524298 28800 28800 28800 52356305 48088180 28800 4239325 2293185 9804285 1079719 1339127 954118 220731 68039 1351517 923145 2929677 2475395 235247 2446015 1488953 285327 INTEREST/DIVIDENDS PAID 7166389 ACCOUNT AND LOAN SERVIC 6330713 PROVISION FOR LOAN LOSS 1779792 NCUSIF/CORPORATE STABIL 784672 615085 44571131 5078531 6077676 87385493 62179642 5780441 7052428 12171 703601509 763320184 4837611 4962598 55550760 29037783 26910626 26512977 337579808 339038097 5066123 5257774 5736073 5120987 10031715 9892409 1192007930 1229426943 9009080 9370525 65000000 65000000 981241344 1010191019 1055250424 1084561544 X 0 0 16338071 16338071 120419435 128527328 136757506 144865399 1192007930 1229426943 7785174 322719 0 X X 0 1 X 1 0 8752576 8752576 25161798 10773762 14388036 1917951 1373818 544133 19718435 16890203 2828232 26512977 ESCROW ACCOUNTS 3535714 MEMBERS' SHARE AND DEPOSIT ACCOUNTS 1006655305 1010191019 52996561 0 52996561 -640256 -640256 52356305 45211387 0 45211387 -640256 -640256 44571131 Part XI, Line 4b - Other Adjustments: RENTAL EXPENSES NETTED AGAINST RENTAL INCOME -640,256. Part XII, Line 4b - Other Adjustments: RENTAL EXPENSES NETTED AGAINST RENTAL INCOME -640,256. X X 1 1 X X X X X 0 1 0 C ALAN PEPPERS 418576 0 113037 0 167728 0 56807 0 23654 0 779802 0 54850 0 JOHN MCCLOY 191365 0 36580 0 11282 0 87732 0 18311 0 345270 0 0 0 DUANE BRUNO 200455 0 36580 0 150581 0 78353 0 293 0 466262 0 135862 0 BETSY GUERRERO 190129 0 36580 0 10775 0 87732 0 21267 0 346483 0 0 0 JOY MANTELLI 35708 0 115705 0 0 0 15929 0 293 0 167635 0 0 0 LEE DAMIANO 129830 0 17538 0 681 0 34001 0 11350 0 193400 0 0 0 LAURIE JENSEN 130329 0 17289 0 151 0 38969 0 8929 0 195667 0 0 0 JENNIFER MEYERS 123477 0 17161 0 90 0 39491 0 15746 0 195965 0 0 0 HELEN RANDALL 21680 0 119878 0 0 0 15595 0 5097 0 162250 0 0 0 Betsy Guerrero Chief Financial Officer VISA Credit Card X 8196 8196 0 1 1 Duane Bruno Chief Operations Officer VISA Credit Card X 3975 3975 0 1 1 12171 CUNA MUTUAL GROUP CEO ALSO SERVES AS VICE CHAIR OF BOARD OF CUNA MUTUAL 152246 PURCHASE OF INSURANCE POLICIES 0 Form 990, Part VI, Section A, line 6 The Credit Union is a member owned financial cooperative that is operated for the benefit of: 1)Employees, pensioners, students and graduates of Denver Schools District No. 1 and Jefferson County School District, 2)Employees of Safeway Stores, Inc. and subsidiaries and affiliated companies in the Denver Division of Safeway Stores, Inc. 3)Persons who live or work within the boundaries of the City of Aurora, the City and County of Denver, and Arapahoe, Jefferson, Adams and Douglas Counties, 4)All persons who were members or qualified to be members the Safeway Rocky Mountain Federal Credit Union, Gateway Credit Union and Jeffco Credit Union at the time of their mergers with Westerra Credit Union, 5)Various select employee groups, 6)Organizations of the above named members, and 7)Members of the immediate family or household of any person who is eligible for membership in the Credit Union. Form 990, Part VI, Section A, line 7a The members of the credit union elect the Board of Directors at the annual meeting or by mail ballot to fill each vacancy; however, if only one qualified member is nominated for each expired term to be filled, the Chairman may take a voice vote or declare each nominee elected by general consent or acclamation at the 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 Credit Union has contracted with a certified public accounting firm for assistance in completion of the Form 990. As part of the firm's processes, the Form 990 is reviewed by two partners. The completed Form 990 is also reviewed by credit union management prior to filing. The Chief Financial Officer presents the Form 990 to the Board of Directors at a monthly meeting prior to filing the Form 990. Form 990, Part VI, Section B, line 12c The Credit Union has a written ethics policy which addresses conflicts of interest. Directors, volunteers and management are required to make the Credit Union aware of any potential conflicts. Any issues are discussed with the key officers and those charged with governance for resolution. Form 990, Part VI, Section B, line 15 The Board of Directors conducts an annual performance review of the President/Chief Executive Officer and sets the compensation. The Board of Directors and the Board's Compensation Committee works closely with an independent and nationally recognized outside compensation consultant to provide the Board with expertise on reasonable, sound and competitive compensation practices to help it evaluate and compare the Credit Union's compensation program with that of its peers. In addition, the Credit Union utilizes local independent third-party resources inside and outside the credit union industry to obtain local and national market data for all management positions in the Credit Union. Working within the budget parameters established by the Board of Directors and utilizing independent market data and outside compensation consultants, the President/Chief Executive Officer approves the compensation for all other management positions within the Credit Union. Form 990, Part VI, Section C, line 19 The credit union's governing documents and conflict of interest policies may be available for review upon request at the credit union. Monthly financial statements are available upon request. Summarized financial information is available on the credit union's website. Quarterly financial data is accessible to the public at www.ncua.gov. Part XII, Line 2c The process has not changed from the prior year. WESTERRA SERVICES INC 3700 EAST ALAMEDA AVENUE DENVER CO 80209 205873430 PROVIDING BUSINESS MGMT. SERVICES TO OTHER CREDIT UNIONS CO WESTERRA CREDIT UNION C 7823 92923 1.00000 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 WESTERRA SERVICES INC O 305 Corporate accounting records