2011-08-15T12:47:38-05:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 880059939 BOULDER DAM CREDIT UNION BOUL 7022937772 PO BOX 61530 530 AVENUE G BOULDER CITY NV 890061530 ERIC ESTES 7022937772 2011-08-15 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z ERIC ESTES PO BOX 61530 530 AVENUE G BOULDER CITY NV 890061530 15499566 0 1 X WWW.BOULDERDAMCU.ORG X 1940 NV TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS OF MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES. 7 7 42 9 0 0 0 0 14243650 13350455 4519595 914887 0 60353 18763245 14325695 0 0 6730448 2492626 5007910 4652570 0 0 0 9343684 10240645 21082042 17385841 -2318797 -3060146 514247710 478908770 469112990 436834196 45134720 42074574 X TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS OF MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES. 0 0 ONE OF THE CREDIT UNION'S TWO PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS' MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES REAL ESTATE, AUTO, BOAT, RV, SIGNATURE AND VISA LOANS TO ELIGIBLE MEMBERS. THE SECOND MAIN SERVICE THAT THE CREDIT UNION OFFERS IS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. ELIGIBILITY REQUIRES THAT A PERSON MUST LIVE OR WORK IN BOULDER CITY, NEVADA. DUE TO THE EXCEPTIONAL SERVICE LEVEL PROVIDED BY THE CREDIT UNION, APPROXIMATELY 90% OF ELIGIBLE MEMBERS ARE MEMBERS OF THE CREDIT UNION. ONCE AGAIN, THE CREDIT UNION DOES NOT CHARGE ANY FEES FOR DEPOSIT ACCOUNTS, OTHER THAN PUNITIVE FEES FOR OVERDRAFTS AND INSUFFICIENT FUND ITEMS. AN ANCILLARY PRODUCT OFFERED BY THE CREDIT UNION IS THE ELECTRONIC DELIVERY OF SERVICES. THE CREDIT UNION OFFERS DEBIT CARDS, VISA CREDIT CARDS, ATM ACCESS, CUPHONE ACCOUNT ACCESS AND INTERNET ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. ADDITIONALLY, THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK, WHICH ENABLES MEMBERS TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. APPROXIMATELY 80% OF OUR MEMBERSHIP UTILIZE SOME TYPE OF ELECTRONIC DELIVERY SERVICE. THE CREDIT UNION ALSO OFFERS THE FOLLOWING PRODUCTS AS PART OF CREDIT UNION MEMBERSHIP. SAFE DEPOSIT BOX SERVICES FOR A NOMINAL CHARGE; LIFE SAVINGS AND LOAN PROTECTION INSURANCE AT NO COST TO THE MEMBER; FREE FINANCIAL EDUCATION CLASSES OFFERED TO ALL JUNIOR AND SENIOR STUDENTS ENROLLED AT BOULDER CITY HIGH SCHOOL; AND, SAVINGS BOND REDEMPTION AND PURCHASE SERVICES AT NO COST TO THE MEMBER. 0 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10953 0 1 42 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 0 0 1 1 1 0 X X ERIC ESTES 7022937772 PO BOX 61530 530 AVENUE G BOULDER CITY NV 890061530 DALE IMLAY 2.00 X X 0 0 0 MIKE STANKOVIC 2.00 X X 0 0 0 CHARMAINE FERRARI 2.00 X X 0 0 0 JAY BOOTH 2.00 X X 0 0 0 DOUG SCHEPPMANN 2.00 X 0 0 0 DIANE BRUMBERG 2.00 X 0 0 0 ROBERT MERRELL 2.00 X 0 0 0 BILL FERRENCE 40.00 X 400897 0 37983 ERIC ESTES 40.00 X 212488 0 43094 PAT KLINGER 40.00 X 248692 0 17907 MARY BETH CLIFT 40.00 X 111010 0 0 JANICE RINNE 40.00 X 106294 0 0 1079381 0 98984 5 0 1 0 FISERV 75 REMITTANCE DRIVE STE 6974 CHICAGO IL 606756974 COMPUTER/IT 1285473 STARMARK 400 FIELD DRIVE LAKE FOREST IL 600452581 HEALTH INSURANCE PROVIDER 613403 2 LOAN INTEREST 522100 12496379 12496379 FEES AND MISCELLANEOUS 522100 854076 854076 13350455 2088758 2088758 1173871 -1173871 -1173871 -1173871 OTHER NON-OPERATING RE 522100 60353 60353 60353 14325695 13410808 0 914887 2492626 961061 2422413 464213 566953 237930 96902 1052428 620694 582982 94863 21820 909102 PROVISION FOR LOAN LOSS 6300000 LOAN SERVICING EXPENSES 408051 ASSOCIATION DUES 59538 NEVADA SUPERVISORY EXPE 42119 ATM AND NSF CHECK LOSSE 41512 10634 17385841 17628093 15998233 501 217700 221652052 202237940 3806331 2931039 729307 875292 267281690 247154668 6956067 12424937 514247710 478908770 1480192 688902 467632798 436145294 469112990 436834196 X 0 0 0 0 45134720 42074574 45134720 42074574 514247710 478908770 -3060146 0 X 0 1 1 X 0 7500 7500 7500 1 NCUL PAC 6475 W SAHARA AVENUE LAS VEGAS NV 891463036 880270264 7500 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: THE CREDIT UNION MAKES AN ANNUAL CONTRIBUTION TO THE NEVADA CREDIT UNION POLITICAL ACTION COMMITTEE. THIS PAC MAKES CONTRIBUTIONS TO STATE LEVEL CANDIDATES WHO ARE FRIENDS OF CREDIT UNIONS. 789308 789308 3017023 2931039 85984 875292 HELD-TO-MATURITY SECURITIES 106997031 F MEMBER CAPITAL ACCT IN CORP CU 21316857 F OTHER INVESTMENTS IN CORP CU 92703382 F OTHER INVESTMENTS 25099525 F ACCRUED INTEREST/INCOME 1037873 F 247154668 MEMBER SHARES AND DEPOSITS 436145294 436145294 14325695 17385841 -3060146 -3060146 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FOR THE YEAR ENDED DECEMBER 31, 2010, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X X 1 1 X X 0 0 0 BILL FERRENCE 400897 0 0 0 0 0 0 0 37983 0 438880 0 0 0 ERIC ESTES 202488 0 0 0 10000 0 0 0 43094 0 255582 0 0 0 PAT KLINGER 211418 0 0 0 37274 0 0 0 17907 0 266599 0 0 0 PART I, LINE 1A PART I, LINE 1A: TRAVEL FOR COMPANIONS: TRAVEL EXPENSES FOR COMPANIONS ARE ALLOWED ONLY WITH APPROVAL OF MANAGEMENT AND DOES NOT ALLOW FOR EXPENSES ABOVE AND BEYOND WHAT IS USUAL AND CUSTOMARY FOR THE LOCATION IN QUESTION. ADDITIONALLY, COMPANION TRAVEL SHOULD NOT BE ALLOWED MORE THAN ONE TIME DURING ANY TWO CALENDAR YEARS AND FOR A PERIOD NOT TO EXCEED ONE WEEK. A 1099 IS ISSUED IF THE $600 REPORTING THRESHOLD IS MET. IN 2010 NO SPOUSE TRAVEL EXCEEDED THE $600 THRESHOLD. TAX INDEMNIFICATION: AS PART OF THE MANAGER'S CONTRACTUAL AGREEMENT WITH THE CREDIT UNION, THE CREDIT UNION AGREES TO PAY FOR BOTH THE EMPLOYER AND EMPLOYEE PORTION OF SOCIAL SECURITY AND MEDICARE. THE EMPLOYEE'S PORTION OF THIS COST WAS $12,606.09 FOR 2010. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. 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, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 COMPLETED 990 IS REVIEWED AND APPROVED BY THE MANAGER, ASSISTANT MANAGER, AND OPERATIONS ASSISTANT. ONCE THIS PROCESS IS COMPLETED, A COPY OF THE FINAL 990 IS DISSEMINATED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12 BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 A MANAGER'S COMPENSATION IS ESTABLISHED AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. SENIOR MANAGEMENT SALARIES ARE SUBJECT TO GENERAL INDEX INCREASES APPLIED TO ALL STAFF AND RECOMMENDED BY THE MANAGER TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE CREDIT UNION'S OFFICE.