2013-11-14T11:36:14-06:00 2012-12-31 910189318 Moss Adams LLP 601 W Riverside Suite 1800 Spokane WA 992010629 990 2012-01-01 910567788 Horizon Credit Union HORI 5099286494 PO Box 15128 Spokane Valley WA 99216 Jeff Adams 5099286494 2013-11-13 1 Emina O Cresswell CPA P01217304 5097472600 2012 2016-02-25 16:41:14Z Jeff Adams PO Box 15128 Spokane Valley WA 99216 31762108 0 1269 X www.hzcu.org X 1947 WA Credit union operated without profit for mutual purposes. Provide financial services to members. 7 7 249 12 262493 -51228 0 0 24681425 26803629 934252 1179144 -215480 1600 25400197 27984373 23101 23444 0 0 9540805 11470279 0 0 0 13010190 13492674 22574096 24986397 2826101 2997976 436855866 531120211 385804024 473412245 51051842 57707966 Credit union operated without profit for mutual purposes. 0 0 Provide financial services to approximately 49,000 members. These services include but are not limited to loans and savings programs. The services are provided by at least twelve non-paid volunteers and approximately 249 full-time paid employees. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11192 0 1 249 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 0 1 1 1 0 ID MT X Deborah Parelius 5099286494 13224 E Mansfield Ave Suite 300 Spokane Valley WA 99216 Bernie Korth 1.00 X X 0 0 0 Steve Sharon 1.00 X X 0 0 0 Nancy Ripley 1.00 X X 0 0 0 Pat Fitzgerald 1.00 X X 0 0 0 Lisa Urbat 1.00 X X 0 0 0 Mike Butler 1.00 X 0 0 0 Tom DiLuzio 1.00 X 0 0 0 Mark Lodine 1.00 X 0 0 0 Jeff Adams 40.00 X 260256 0 470708 Deborah Parelius 32.00 X 146351 0 19751 Mark Neumann 40.00 X 154574 0 58847 Steve Wilder 40.00 X 116819 0 24647 Greg Robinson 40.00 X 130463 0 17546 Brian Grytdal 40.00 X 118769 0 30257 Jodie Olson 40.00 X 104300 0 17810 1031532 0 639566 7 0 1 0 Perdue Law Firm 1529 Kachina Ridge Drive Santa Fe NM 87507 Legal services 125847 1 Interest on Member Loans 522100 19348343 19348343 Fees paid by Members 522100 7455286 7192793 262493 26803629 1274175 1274175 1600 0 1600 1600 1600 2382443 1300261 2379000 1398735 3443 -98474 -95031 -95031 27984373 26541136 262493 1180744 23444 416256 7475090 471859 2438185 668889 349398 161234 69832 1726573 1802043 298351 1045239 184764 750 2070313 1192848 283780 Provision for Loan Loss 1973946 Loan Servicing/Program 1419965 NCUSIF Recapitalization 362704 Miscellaneous Expenses 301459 249475 24986397 3073329 3603598 31550724 50948374 1205489 1373807 323636189 389149086 638690 1603439 30734488 11035030 16427398 19699458 51317168 52823430 17490 14856 1350978 8989389 10553185 436855866 531120211 5496943 8277959 380307081 465134286 385804024 473412245 X 0 0 0 0 51051842 57707966 51051842 57707966 436855866 531120211 X 2997976 -260 3658408 X X 0 1 X 1 0 4518279 4518279 16283913 3163695 13120218 987197 696106 291091 8945099 7175229 1769870 19699458 NCUA Share Insurance Capitalization Deposit 4393107 C Certificates of Deposit from Banks 34701692 C FHLB Capital Stock 884300 C CMO Securities 6981361 C Federal Agency Securities 1504512 C HMBS Investments 3736884 C Kansas City Corporate CR Membership Cap 148576 C ECCU Certificate of Deposit 248000 C Investment in CUSOURCE CUSO 224998 C 52823430 Member Deposits 465134286 465134286 X 28077072 98474 98474 27978598 5775 5775 27984373 25079096 98474 98474 24980622 5775 5775 24986397 Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: The Credit Union files IRS Forms 990 and 990-T, as applicable. The Credit Union measures and recognizes the implications of positions taken or expected to be taken in its tax returns on an ongoing basis in accordance with income tax guidance. The Credit Union had no unrecognized tax benefits or liabilities and no adjustments to its financial position, results of operations or cash flows related to uncertain tax positions taken for the year ended December 31, 2012, or the fifteen months ended December 31, 2011. The Credit Union is no longer subject to federal, state or local income tax examinations by tax authorities for 12 months prior to December 31, 2009. If assessed, the Credit Union recognizes penalties and interest associated with tax matters as part of operating expenses. Part XI, Line 2d - Other Adjustments: Loss on assets 98,474. Part XI, Line 4b - Other Adjustments: Gain on sale of investments 3,443. Non-operating income 1,600. Fee income adjustment 732. Part XII, Line 2d - Other Adjustments: Loss on assets 98,474. Part XII, Line 4b - Other Adjustments: Gain on sale of investments 3,443. Non-operating income 1,600. Fee income adjustment 732. 1 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The organization keeps receipts or documentation for each sponsored event. The organization has a policy and set of by-laws for the Community Outreach Committee to follow when approving expenditures for events. The COC is assigned by Senior Management a budgeted expenditure amount for each year. X 1 1 X X X X X 0 1 0 Jeff Adams 216074 0 18823 0 25359 0 450492 0 20216 0 730964 0 0 0 Mark Neumann 142358 0 11969 0 247 0 52338 0 6509 0 213421 0 0 0 Supplemental Information Part III Part I, Line 1a: Volunteers are entitled to $1,000 for spouse business travel per year. Officers of the Corporation are entitled to $600 for spouse business travel per year. The CEO's spouse business travel is not limited to $600. Part I, Line 4b: Jeff Adams, CEO, participates in a supplemental nonqualified retirement plan. The amount earned in 2012 is $429,540. Part I, Line 4b: Mark Neumann, Vice President, participates in a supplemental nonqualified retirement plan. The amount earned in 2012 is $40,000. Form 990, Part VI, Section A, line 6 Entity has one class of members. Form 990, Part VI, Section A, line 7a Entity has members who elect members of the board. Form 990, Part VI, Section A, line 7b Entity has members who have rights to ratify decisions of the governing body. Form 990, Part VI, Section B, line 11 The CFO reviews the 990 and will make a complete copy of it available to the board at the November 2013 board meeting. Form 990, Part VI, Section B, line 15 CEO salary ranges are prepared by Human Resources based on industry comparability data and reviewed by the compensation committee. Compensation committee is comprised of volunteer board members. CEO performance is assessed and salary trends are reviewed by compensation committee to determine appropriate salary. The salary recommendation is then presented to the full board of directors for final review and approval. Senior Manager's salary ranges are prepared by Human Resources based on industry comparability data and reviewed by the CEO and the compensation committee. Performance is assessed and salary trends reviewed by CEO to determine relevant salaries. Every few years compensation data and process is reviewed by an outside consultant. Form 990, Part VI, Section C, line 18 Available upon request. Form 990, Part VI, Section C, line 19 We publish our monthly financial statements at each branch, and our quarterly financial statements are published on the NCUA website. Our annual report is on our website. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Equity Acquired in Merger 3,658,408. Form 990, Part XII, Line 2c: The Supervisory Committee has oversight of the audit process and selection of independent auditors. The process has not changed from prior years.