2012-11-21T13:17:47-06:00 2011-12-31 841474365 HOLBEN HAY LAKE BALZER CPAS LLC 1777 S HARRISON STREET 1000 DENVER CO 80210 990 2011-01-01 840405947 DENVER COMMUNITY CREDIT UNION DENV 3035731170 1075 ACOMA STREET DENVER CO 80204 SHANE SILVERNALE 3035731170 2012-11-13 1 SHEILA M BALZER P00967957 3037592727 2011 2016-02-24 21:20:13Z X SHANE SILVERNALE 1075 ACOMA STREET DENVER CO 80204 15411580 0 X WWW.DENVERCOMMUNITY.COOP 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 98 9 78157 -22626 0 15101281 13345534 700646 1520287 78157 15801927 14943978 0 0 4094221 4026809 0 0 11345035 7913383 15439256 11940192 362671 3003786 218343692 222903721 192320739 193629499 26022953 29274222 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 29,750 MEMBERS SERVED. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 98 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 0 1 1 1 1 1 1 1 1 1 X THE CREDIT UNION 3035731170 1075 ACOMA STREET DENVER CO 80204 JANICE M CORNELL 2.00 X 0 0 0 MORRIS E MURRAY 2.00 X 0 0 0 HELEN GONZALES 2.00 X 0 0 0 DR MICHAEL POULOS 2.00 X 0 0 0 TRACY HOWARD 2.00 X 0 0 0 CAROLYN LAWSON 2.00 X 0 0 0 JAMES DIPAOLO 2.00 X 0 0 0 CARLA HEDRICK 40.00 X 260000 0 14100 SHANE SILVERNALE 40.00 X 144500 0 5977 TERESSA BONFANTE 40.00 X 127917 0 5308 MARY ELLEN LITZAU 40.00 X 121919 0 6907 654336 0 32292 4 0 1 0 TRI-CUE PO BOX 271939 FT COLLINS CO 80527 DATA PROCESSOR 501917 CO-OP 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM-DEBIT CARD PROCESSING AND TRNANSACTI 273432 VISA USA PO BOX 8999 SAN FRANCISCO CA 94128 VISA FEE, SETTLEMENT SERVICE AND MEMBERS 218210 INFOIMAGE 141 JEFFERSON DRIVE MENLO CA 94025 MAILING SERVICE 142314 TSG 5941 S MIDDLEFIELD 100 LITTLETON CO 80123 1ST MORTGAGE SERVICES 138701 5 INTEREST ON LOANS TO M 522100 8805057 8805057 FEES AND CHARGES 522100 2904328 2904328 OTHER INCOME 522100 1636149 1636149 13345534 788406 788406 1199483 467602 731881 731881 731881 NON-MEMBER ATM FEES 525990 78157 78157 78157 14943978 14077415 78157 788406 654336 2736167 84182 284539 267585 3684 112957 49559 195324 1232617 519435 74012 238 530674 43174 INTEREST AND DIVIDENDS 2410410 LOAN SERVICING EXPENSE 1549863 PROVISION FOR LOAN LOSS 659133 NCUSIF/CORPORATE STABIL 467774 64529 11940192 2240048 1972104 21895973 22797211 223716 116112 1646863 1545201 135989921 131021363 17947528 7038100 11305528 10909428 33040478 39582267 507300 1354100 2873125 4816684 8620740 8789251 218343692 222903721 2055782 2574741 190264957 191054758 192320739 193629499 X 0 0 3454043 3454043 22568910 25820179 26022953 29274222 218343692 222903721 X 3003786 247483 X X 0 1 1 X 0 3230479 3230479 8660571 2235108 6425463 1620522 714490 906032 4435956 4088502 347454 10909428 MEMBERS' SHARE AND DEPOSIT ACCOUNTS 191054758 191054758 14943978 11940192 3003786 247483 247483 3251269 15020550 0 15020550 -76572 -76572 14943978 12016764 0 12016764 -76572 -76572 11940192 PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS -76,572. PART XIII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS -76,572. X X X X X 0 1 0 CARLA HEDRICK 250000 0 10000 0 0 0 9800 0 4300 0 274100 0 0 0 SHANE SILVERNALE 134500 0 10000 0 0 0 5782 0 195 0 150477 0 0 0 CARLA HEDRICK HOME LOAN X 341125 304759 0 1 1 SHANE SILVERNALE HOME LOAN X 538750 500326 0 1 1 TERESA BONFANTE HOME LOAN X 305000 229611 0 1 1 MARY ELLEN LITZAU HOME LOAN X 600000 510505 0 1 1 1545201 TRI-CUE MANAGEMENT OF THE CREDIT UNION SITS ON THE BOARD OF DIRECTORS OF THE ENTITY 501917 DATA PROCESSOR 0 CUSN MANAGEMENT OF THE CREDIT UNION SITS ON THE BOARD OF DIRECTORS OF THE ENTITY 260167 PROCESSING FEES AND MONTHLY ISSUER 0 CUDC MANAGEMENT OF THE CREDIT UNION SITS ON THE BOARD OF DIRECTORS OF THE ENTITY 182118 ORIGINATION FEES 0 FORM 990, PART VI, SECTION A, LINE 6 THE FIELD OF MEMBERSHIP OF THE CREDIT UNION INCLUDES: MEMBERS OF RECORD OF THE CREDIT UNION AS OF THE EFFECTIVE DATE OF ITS CONVERSION TO STATE CHARTER, PERSONS WHO LIVE OR WORK AND LEGAL ENTITIES LOCATED IN THE COUNTIES OF DENVER, ADAMS, AND ARAPAHOE, COLORADO AND EMPLOYEES OF THE CREDIT UNION, MEMBERS OF THE IMMEDIATE FAMILY OF ANY PERSON WHO, UNDER THE PROVISIONS OF THIS SECTION, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY BE ADMITTED TO MEMBERSHIP THEREIN (IMMEDIATE FAMILY MEANS PERSONS RELATED BY BLOOD, MARRIAGE, OR ADOPTION), A MEMBER OF A HOUSEHOLD WHO RESIDES WITH A PERSON WHO, UNDER THE PROVISIONS OF THIS SECTION, IS ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION MAY ALSO BE ADMITTED TO MEMBERSHIP THEREIN. HOUSEHOLD IS DEFINED AS PERSONS LIVING IN THE SAME RESIDENCE AND WHO MAINTAIN A SINGLE ECONOMIC UNIT. THIS INCLUDES ANY PERSON WHO IS A PERMANENT MEMBER OF AND PARTICIPATES IN THE MAINTENANCE OF THE HOUSEHOLD, INCLUDING FAMILY MEMBERS, DOMESTIC PARTNERS, FOSTER CHILDREN AND LEGAL GUARDIAN RELATIONSHIPS MEMBERSHIP MAY INCLUDE ANY SMALL GROUP THAT HAS A COMMON BOND OF EMPLOYMENT OR ASSOCIATION PROVIDED THAT SAID GROUP HAS BEEN ACCEPTED IN ACCORDANCE WITH THE RULES AND REGULATIONS OF THE DIVISION OF FINANCIAL SERVICES. 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. 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. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, (GENERALLY IN MAY) THE CHIEF CORPORATE OFFICER (CCO) MEETS WITH THE BOARD OF DIRECTORS TO REVIEW THE CONFLICT OF INTEREST POLICY. DIRECTORS ARE GIVEN THE OPPORTUNITY TO ASK QUESTION AND THEN ASKED TO SIGN A COPY OF THE POLICY FOR THE FILE. EMPLOYEES AND MANAGERS RECEIVE A COPY OF THE CODE OF CONDUCT AND CONFLICT OF INTEREST AT TIME OF HIRE AND THEN THIS IS REVIEWED AGAIN PERIODICALLY AT THE ALL STAFF MEETING AND NEW SIGNATURES ARE OBTAINED. EMPLOYEES, MANAGEMENT AND THE BOARD OF DIRECTORS ARE ASKED TO SHARE UP FRONT ANY POTENTIAL CONFLICTS OF INTEREST. ACCOUNTS ASSOCIATED WITH EMPLOYEES, MANAGEMENT AND BOARD OF DIRECTORS ARE FLAGGED AS EMPLOYEE OR VOLUNTEER ACCOUNTS. FORM 990, PART VI, SECTION B, LINE 15 DENVER COMMUNITY CREDIT UNION USES THE COMPEASE PROGRAM FOR SALARY ADMINISTRATION. THE PROGRAM IDENTIFIES RANGES BASED ON LEVELS OF RESPONSIBILITY FOR THE POSITION IN THE AREAS OF: EXPERIENCE, EDUCATION, MANAGERIAL RESPONSIBILITY, INTERPERSONAL SKILLS, INDEPENDENT JUDGMENT, MENTAL PROCESS, ORGANIZATIONAL IMPACT, AND ORGANIZATIONAL RESTRAINT. ANNUAL UPDATES TO SALARY RANGES ARE RECEIVED FROM COMPEASE. MID-RANGE OF EACH GRADE IS CONSIDERED MARKET PRICE FOR POSITIONS WITHIN THAT GRADE. FOR THE CEO POSITION: IN JANUARY, COMPENSATION DATA FROM COMPEASE, AS WELL AS SALARY SURVEY INFORMATION FROM MOUNTAINS STATES EMPLOYERS COUNCIL AND FROM CUES (CREDIT UNION EXECUTIVE SOCIETY), IS PROVIDED TO THE BOARD OF DIRECTORS BY THE CHIEF CORPORATE OFFICER, ALONG WITH ANY PERTINENT ARTICLES REGARDING CEO COMPENSATION. THE DIRECTORS INDIVIDUALLY COMPLETE A PERFORMANCE REVIEW FORM RATING THE CEO IN OVERALL ASSESSMENT, PERFORMANCE OBJECTIVES, AND STRATEGIC POSITIONING. THE BOARD CHAIR COMBINES THE RATINGS AND PREPARES THE NARRATIVE. THE BOARD MEETS IN EXECUTIVE SESSION TO DETERMINE THE SALARY AND/OR BONUS TO BE PAID. THE REVIEW IS DELIVERED BY THE CHAIRMAN. ANY SALARY INCREASES ARE EFFECTIVE JANUARY 1 AS DEFINED IN THE CEO CONTRACT. FOR EXECUTIVE MANAGEMENT POSITIONS: A SIMILAR FORMAT PERFORMANCE EVALUATION IS COMPLETED ON EXECUTIVE MANAGERS BY THE CEO. SALARY INCREASES BASED ON PERFORMANCE AND LENGTH OF TENURE IN POSITION AND PLACEMENT IN THE GRADE ARE MADE BY THE CEO. ALL REVIEWS AND INCREASES ARE TO BE COMPLETED BY THE FIRST PAY PERIOD IN MARCH. 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: 247,483. PART XII, 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 2011.