2012-10-31T09:25:14-05:00 2011-12-31 841474365 HOLBEN HAY LAKE BALZER CPAS LLC 1777 S HARRISON STREET 1000 DENVER CO 80210 990 2011-01-01 840188017 CREDIT UNIONS CHARTERED IN COLORADO 20 WESTERRA CREDIT UNION CRED 3033214209 3700 EAST ALAMEDA AVE DENVER CO 802093100 JENNIFER MEYERS 7209213066 2012-10-24 1 SHEILA M BALZER P00967957 3037592727 2011 2016-02-24 21:20:13Z BETSY GUERRERO 3700 EAST ALAMEDA AVE DENVER CO 80209 143494720 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 7 293 12 28800 0 0 0 56569950 50029251 6865211 5612615 197404 46499 63632565 55688365 0 0 0 0 15782238 14548056 0 0 0 43164974 35898883 58947212 50446939 4685353 5241426 1175882854 1192007930 1045304015 1055250424 130578839 136757506 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 81,000 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 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 17630 0 1 293 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 KEVIN MCCASKY 2.00 X 0 0 0 KATHY BETTS 2.00 X 0 0 0 ANDY RAICEVICH 2.00 X 0 0 0 VI MARTINEZ 2.00 X 0 0 0 MICHAEL ROBINSON 2.00 X 0 0 0 C ALAN PEPPERS 40.00 X 605678 0 96909 JOHN MCCLOY 40.00 X 229502 0 109233 DUANE BRUNO 40.00 X 241588 0 67526 BETSY GUERRERO 40.00 X 228864 0 109375 STEVE LEUGERS 40.00 X 158080 0 19003 LEE DAMIANO 40.00 X 156532 0 23440 LAURIE JENSEN 40.00 X 144482 0 21400 JENNIFER MEYERS 40.00 X 137344 0 30311 WANDA MATSUDA 40.00 X 137463 0 23876 2039533 0 501073 16 0 1 0 MCGLADREY LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 INTERNAL AUDIT SERVICES 168286 SEMPLE FARRINGTON & EVERALL PC 1120 LINCOLN STREET SUITE 1308 DENVER CO 80203 LEGAL SERVICES 166590 SUMMIT SERVICE GROUP INC 747 SHERIDAN BLVD 1C LAKEWOOD CO 80214 CLEANING SERVICES 144489 LONG VIEW SYSTEMS CORPORATION 17TH STREET SUITE 900 DENVER CO 80202 IT CONSULTING SERVICES 127250 GB PROTECT INC 23 INVERNESS WAY EAST SUITE 130 ENGLEWOOD CO 80112 SECURITY SERVICES 122472 7 INTEREST ON LOANS TO M 522100 41940390 41940390 OTHER INCOME 522100 5036594 5036594 FEES AND CHARGES 522100 3052267 3052267 50029251 5790231 5790231 642172 624473 17699 17699 17699 4589266 82415000 4572177 82609705 17089 -194705 -177616 -177616 MANAGEMENT FEE INCOME 524298 28800 28800 28800 55688365 49851635 28800 5807930 1305632 10306547 945336 1082896 907645 212733 54061 1052884 1180470 2720550 2173897 236300 2552856 1497747 295226 INTEREST/DIVIDENDS PAID 8733784 PROVISION FOR LOAN LOSS 6306623 ACCOUNT AND LOAN SERVIC 6121496 NCUSIF/CORPORATE STABIL 1971426 788830 50446939 3948796 5078531 57129154 87385493 7808755 5780441 728487302 703601509 3488873 4837611 53524416 26613790 26404811 26910626 305159354 337579808 25118089 5066123 6524903 5736073 11812817 10031715 1175882854 1192007930 8036271 9009080 65000000 65000000 972267744 981241344 1045304015 1055250424 X 0 0 16338071 16338071 114240768 120419435 130578839 136757506 1175882854 1192007930 X 5241426 937241 X X 0 1 1 X 0 8719713 8719713 24531385 9899847 14631538 1917951 1253435 664516 18355367 15460508 2894859 26910626 ESCROW ACCOUNTS 3164564 MEMBERS' SHARE AND DEPOSIT ACCOUNTS 978076780 981241344 55688365 50446939 5241426 937241 937241 6178667 57068551 0 57068551 -1380186 -1380186 55688365 51827125 0 51827125 -1380186 -1380186 50446939 PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST RENTAL INCOME -624,473. GAIN/LOSS ON DISPOSAL OF ASSETS -755,713. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GAIN/LOSS ON DISPOSAL OF ASSETS -755,713. RENTAL EXPENSES NETTED AGAINST RENTAL INCOME -624,473. X X 1 1 X X X X X 0 1 0 C ALAN PEPPERS 353095 0 100611 0 151972 0 77193 0 19716 0 702587 0 84156 0 JOHN MCCLOY 175131 0 43106 0 11265 0 86283 0 22950 0 338735 0 0 0 DUANE BRUNO 187571 0 43106 0 10911 0 67526 0 0 0 309114 0 0 0 BETSY GUERRERO 174989 0 43106 0 10769 0 86283 0 23092 0 338239 0 0 0 STEVE LEUGERS 135372 0 22611 0 97 0 13774 0 5229 0 177083 0 0 0 LEE DAMIANO 132937 0 22937 0 658 0 13973 0 9467 0 179972 0 0 0 LAURIE JENSEN 121725 0 22611 0 146 0 13774 0 7626 0 165882 0 0 0 JENNIFER MEYERS 113903 0 23355 0 86 0 13673 0 16638 0 167655 0 0 0 WANDA MATSUDA 118601 0 18489 0 373 0 13468 0 10408 0 161339 0 0 0 CUNA MUTUAL GROUP CEO ALSO SERVES AS CHAIR OF BOARD OF CUNA MUTUAL 453230 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 JEFFCO PUBLIC SCHOOLS, 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 ARAPAHOE, JEFFERSON, ADAMS, DOUGLAS AND DENVER COUNTIES, 4)ALL PERSONS WHO WERE MEMBERS OF THE SAFEWAY ROCKY MOUNTAIN FEDERAL CREDIT UNION, GATEWAY CREDIT UNION OR 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 ANNUALLY ELECT THE BOARD OF DIRECTORS TO SERVE FOR MULTIPLE-YEAR TERMS BY MAILING IN BALLOTS OR VOTING AT AN ANNUAL MEETING. WHEN 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 OR 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 ARE 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 937,241. 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 17258 116731 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 WESTERRA SERVICES INC N 1082 CORPORATE ACCOUNTING RECORDS