MWCUA 14 Annual Report - MWCUA Mountain West Credit Union

Transcription

ANNUAL REPORT
2014 ANNUAL MEETING AND CONVENTION
M O U N TA I N W E S T C R E D I T U N I O N A S S O C I AT I O N
COLORADO SPRINGS, CO | APRIL 24 – 26, 2014
“It is a great movement,
worthy of great deeds,
deserving of great loyalty,”
~ Edward Filene
fFrom the Chairman
As a movement defined by people helping people, we do not sit on the sidelines,
we get involved. We are actively engaged in our communities, playing a vital role in
uniting around common causes that fill needs in the places we call home.
We see it all the time; communities uniting in response to crisis. No one does it
better than our credit union community. And there is no better example of this than
with what our region experienced in 2013. Summer brought devastating and tragic
fires to Arizona and Colorado. September brought historic flooding to Colorado.
BOB RAMIREZ These catastrophic events were opportunities to showcase what credit unions do
Chair
best. Working together, our credit unions were able to support members, assist with
immediate needs and be boots on the ground to help with cleanup and restoration. We made, and
continue to make, an impact in the communities we serve.
At the Mountain West Credit Union Association, we also continue to work to be the catalyst for
cooperation among credit unions. 2013 was a year where significant strides were made. Credit unions
won their most important political victory in the past 16 years in February, when the “discussion draft”
of a tax reform proposal made no changes to the tax-exempt status of credit unions. This result was
attained, in part, through our credit unions’ efforts with CUNA’s “Don’t Tax My Credit Union” campaign,
which during nine months’ time generated more than 45,000 contacts with Congress from credit union
supporters in our three states, urging them “don’t tax my credit union.”
The Association staff continues to refine and improve our work for credit unions in education and
compliance. These are important services that we know our member credit unions want and need. I
am a big believer in the Japanese principle of Kaizen; which simply means “continuous improvement.”
The Mountain West Credit Union Association is on a track for continuous improvement with the goal of
increasing value to our member credit unions.
As credit unions, our strength of community makes us the best choice for a financial partner for our
members. By living out the values that set us apart, we provide many reasons for people to choose
credit union membership. Our shared agenda of removing barriers, creating awareness and fostering
service excellence all helps position the movement for a bright future.
Of course, continuous improvement means we are never finished. That is why, with a united purpose,
common goals and supportive resources, together we will prove why “people helping people” is a
worthy business approach.
C O L O R A D O S P R I N G S , C O | A P R I L 2 4 – 2 6 , 2 0 1 4 | W W W. M W C U A . C O M
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fFrom the President
Unite: verb. Come or bring together for a common purpose or action.
Since our very inception, credit unions have been united around the common
purpose of “People Helping People.” That coming together hasn’t just been within
the walls of each credit union, but also across the entire industry. And right now,
perhaps more than any other time in our history, we need to remain committed to
that common goal, together.
This year’s annual meeting theme, “Unite for Good,” reflects the CUNA campaign
to rally credit unions behind a unified, system-wide vision where “Americans choose
SCOTT EARL
credit unions as their best financial partner.” CUNA’s outgoing CEO Bill Cheney
President
wrote, “This is the credit union’s time to shine, and there is so much we can achieve
by working together, for the good of our great movement.” I couldn’t agree more. Credit union values
resonate with Americans today more than ever.
We are the ones most capable of telling our stories and generating support for our cause. As an
Association we have dedicated greater resources in the area of communications to better tell the credit
union story. Additionally, I am continually amazed at the capacity of credit unions to do good. Whether
we are helping the victims of fires and floods or working with charities like Children’s Miracle Network
Hospitals, credit unions walk the walk.
The threats to our movement are real. Ongoing pressure from the banking industry and the increasing
burden of regulations are not going away. The success of the “Don’t Tax My Credit Union” campaign
and the current effort to provide feedback to the National Credit Union Administration on their riskbased capital proposal are examples of how, when we unite, we make a difference. Association
members met with legislators on numerous occasions, continually reinforcing messages that are key to
our industry’s survival. The greater commitment we have to educate and inform, the better the odds of
affecting outcomes. While it’s not practical or possible for every member credit union to visit lawmakers,
we all have action items that can impact the common goal.
As new regulations unfold, we are providing resources for compliance and education. Our InCompliance
information, Compliance Solutions, assistance in writing comment letters and compliance networking
sessions are all tools to assist credit unions in meeting the challenges of regulation. We are committed
to adding value to your membership by helping to navigate the waters that seem to change daily.
That is a philosophy that as Association staff, we try to build upon every day. We are continually looking
for ways to enhance your investment and add value for you, our member credit unions. Our team is
committed to providing the best possible resources, access to information, support and training.
I want to thank our Board members and all those who are so actively engaged in making our efforts
successful. I also believe there is no better team than the Association staff. They are terrific. In our work,
it often does “take a village” to build a brighter financial future for the American consumer. And, as we
work together, our common ground helps us achieve more than any of us could by working alone. That’s
the premise of Unite for Good.
I can truly say that I am excited about the future of the credit union movement and the role the
Association is playing in building that future. Thank you for being a part of that future.
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2 0 1 4 A N N U A L M E E T I N G A N D C O N V E N T I O N | M O U N TA I N W E S T C R E D I T U N I O N A S S O C I AT I O N
fAssociation Board of Directors
BOB RAMIREZ
Vantage West CU
Chair
SUSAN FRANK
Desert Schools FCU
Vice Chair
JOHN UCHIDA
Space Age FCU
Treasurer
JIM YATES
First Education FCU
Secretary
COLLEEN CURTIS
Southwest Healthcare CU
DAN DESMOND
TruWest CU
DOUG FERRARO
Bellco CU
STEVE HIGGINSON
Reliant FCU
DAN KESTER
Sooper CU
WALT MARX
College CU of Greeley
SUNDIE SEEFRIED
Partner Colorado CU
3
fAssociation Management Report
We continue to have a strong, united showing with our legislative activities.
Arizona, Colorado and Wyoming state legislatures spent 307 days in session in 2013. In that time 2,194
bills were introduced, and 48 were tracked by the Association. Of particular interest, the Association
successfully pushed two bills that were eventually signed into law. In Colorado, we passed a bill that
would allow the state to set-up an electronic lien and title system for automobiles. In Wyoming, we
added an amendment to a bill to conform Wyoming state law to the recently passed federal ATM
disclosure law. In all three states, we were once again successful in lobbying against any piece of
legislation that would have negative impact on credit unions.
On the federal side, the Association secured additional support for our member business lending bill,
H.R. 688, The Credit Union Small Business Jobs Creation Act. The Senate version of the MBL bill (S. 968)
has 16 co-sponsors.
It was an active year on the government relations front.
The most important combined effort for credit union awareness and government relations is the annual
Government Affairs Conference held in Washington, D.C. each year. Joining thousands of their peers
at the conference, more than 110 Association members and staff participated in the event. In addition,
Association staff coordinated legislative meetings with every member of Congress for each state, and more
than 85 attendees participated in those meetings. Association staff also coordinated the 2013 Wyoming
legislative reception and a fall Hike the Hill event for credit union leaders and staff from all three states.
Advocacy efforts remain a high priority.
We had a tremendous year in Credit Union Legislative Action Council fundraising. At the close of 2013,
the combined efforts of our three states raised more than $84,000. The 2013 Don’t Tax Our Credit
Unions’ campaign netted almost 45,000 communications between the three states. Social media added
another 1,100 direct communications to Congress.
We continue to unite across social media platforms. Our grassroots teams had a record year and grew
by almost eight thousand new advocates. Arizona now has 15,993 credit union advocates, Colorado has
another 14,320 and Wyoming grew to 2,253 advocates, for a total of 32,566 grassroots advocates across
all three states. To help that effort, our social media following on Facebook has increased from 1,052 at
the beginning of 2013, finishing the year with more than 1,800 followers on six channels - a 77% growth
for the year. Our Twitter followers increased in 2013 by 54% from 3,344 followers to 5,149.
On the public awareness front, www.asmarterchoice.org continues to be the premier consumer
website and media hub for the credit union movement. In 2013, asmarterchoice.org had 6,920 visitors
from Arizona, Colorado, and Wyoming combined.
We are committed to advancing our members’ development through education and training.
Training is the cornerstone of a strong and effective credit union. To help with the rising costs of
education, through the Mountain West Credit Union Foundation, we provide professional development
scholarships and discounts through a Cheaper by the Dozen webinar promotion, small-asset size pricing
on all schools and conferences and package pricing options for our lending, compliance, director and
frontline webinar series.
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Together we navigated the complicated and overwhelming world of compliance and regulation, and
expanded educational access through distance learning and videoconferencing programs. We saw 2,078
registrations through 200+ webinars, network councils, schools, conferences and one-day trainings. And,
our program rating remains high with an average 4.6 rating on a 1-5 scale (with 5 being the highest score).
In its third year, our Credit Union Leadership Institute is committed to developing future credit union
leaders. And in 2013, we graduated twenty-nine new leaders in the rigorous nine month program.
Networking Councils were offered in 2013 as a way for credit union staff members to share best
practices and network with each other. These are offered in five functional areas: Compliance, COO, HR/
Trainers, Lending, and Marketing.
The numbers show the results: more than 330 attendees participated in the 2013 Annual Meeting
& Convention in Phoenix, 89% of member credit unions participated in the Association’s training
programs, and the five networking councils garnered 241 credit union attendees.
Regulatory advocacy remains a high priority.
2013 was an active year for the regulatory affairs team. An important focus was deciphering and
communicating to Association members regarding the Consumer Financial Protection Bureau’s revised
rules related to mortgage lending. To help member credit unions, the team issued eight InCompliance
packages that included rule summaries, detailed analyses, compliance checklists and sample policies.
The team also provided regulatory examination support to many credit unions throughout the year.
The Association is firmly committed to protecting our credit unions’ right to obtain assistance from the
Association and other third-party experts in responding to regulator criticism.
Association staff continues to meet regularly with federal and state regulatory authorities to advocate
for credit unions. Association staff attended separate meetings with the NCUA Region 4 and Region
5 regional directors to give voice to credit union issues and concerns. Association staff also met with
state regulators and their staff on numerous occasions, both formally and informally. As a direct result
of our advocacy efforts, the Association was invited to give a presentation to National Credit Union
Administration Region 5 examiners to educate them about our indirect lending program.
InfoSight, the Association’s online compliance resource and search engine, is a value-added
service available to all our member credit unions. In 2013, 6,436 pages on Mountain West Credit
Union Association’s InfoSight were accessed by member credit unions, solidifying its importance
among members.
The Association’s member credit unions made significant achievements in 2013 in community outreach.
Every year, participating member credit unions are making a difference in their communities
by supporting Credit Unions for Kids® (CU4Kids), benefiting Children’s Miracle Network
Hospitals®. Member credit unions participated in activities like CU4Kids chocolate bar sales, Miracle
Balloon Paper Icon Sales, Miracle Jeans Day and numerous other individual credit union-sponsored and
organized fundraisers. C O L O R A D O S P R I N G S , C O | A P R I L 2 4 – 2 6 , 2 0 1 4 | W W W. M W C U A . C O M
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In 2013, contributions to Children’s Miracle Network Hospitals through Credit Unions for Kids in Arizona,
Colorado, and Wyoming was $615,135, a 38% increase over 2012.
Market
2011 TOTAL
2012 TOTAL
2013 TOTAL
$ 446,895
$494,078
$515,539
Tucson Medical Center
$ 29,200
$51,849
$44,112
Children's Hospital of Colorado
$ 32,589
$46,849
$55,484
$508,685
$592,776
$615,135
Phoenix Children's Hospital
In early 2014, we recognized several member credit unions’ 2013 achievements and presented six
statewide first place awards, two statewide second place awards, and three statewide honorable
mentions. Also, one member credit union received a national honorable mention from CUNA to
recognize their community service.
During the 2013 Credit Union Youth Week, participating member credit unions in Arizona, Colorado,
and Wyoming reported that 3,228 youth depositors opened 339 new youth accounts during the month
of April for a total of $1,759,139 in youth deposits.
According to reports from the National Youth Involvement Board (NYIB), member credit unions in
Arizona reported providing 487 financial literacy presentations to 13,147 students, and member credit
unions in Colorado reported providing 431 presentations, reaching 12,032 students during the 2012–
2013 school year*.
*These numbers only reflect the number of presentations and students reached that credit unions chose
to report with the NYIB. Numbers may be higher than reported.
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fStrategic Partners Management Report
As part of the Mountain West Credit Union Association, Strategic Partners provides business solutions
to help credit unions prosper and grow. With best-in-class solutions in compliance, lending, operations,
technology, and member growth and loyalty, Strategic Partners provides the innovative products that are
critical for the credit union of today and beyond.
Key Highlights for 2013
ff
Our
partnership with CUNA Mutual Group saw many successes throughout the year. These
opportunities have delivered great results. This increase in new business points out that CUNA Mutual
Group is putting together valuable solutions that credit unions are taking advantage of.
ff
Credit
Union Advantage, Arizona’s Indirect Lending Program, has reached another milestone in 2013.
At year-end, 47,935 loans had been funded for a total of more than $1.1 Billion Dollars. The new
pricing for Credit Union Advantage is now in effect, helping credit unions be more profitable in their
indirect programs.
ff
Compliance
Solutions experienced significant growth in 2013. The NeighborBench (now AffirmX)
platform, along with the “boots on the ground” delivery channel, brings the total number of
participating credit unions to 30.
ff
The
Sprint cellular discount program delivered great savings to the region’s members along with a
year-end combined marketing incentive of $264,093 paid directly to participating credit unions.
ff
Strategic
Partners continues to assume a national leadership position for the development of a mobile
payment engine. CU.PAY is the functional payment engine on which mobile transactions, mobile
wallets, and mobile apps reside. CU.PAY integrates with existing wallets and applications currently
being marketed by credit union service organizations and other system partners. From an industry
perspective, no other credit union system organization has identified a solution with the positive
system-wide impact that CU.PAY will provide.
ff
Discovery
Outsourcing, a “Professional Employer Organization” (PEO) which currently provides health
coverage for approximately 250 people in our service area, also offers HR and payroll services to credit
unions throughout the region. This program was first introduced in March of 2013 and continues to
gain momentum in the ever changing healthcare arena.
ff
Credit
Union Vendor Management (CUVM), along with its new owners, has made great progress in
2013. The platform continues to evolve and offer additional features. 2014 should be a banner year for
this program.
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In
Lo cre
an asi
s ng
Te
In chn
no o
va log
tio y
n &
pe
ra
tio
ns
&
A
Indirect Lending Program
A
Research Reports
& Tools; Member
Education; Industry
Publications
A C W
A C W
A C W
A C W
A C W
Insurance, Retirement
and Investment Products
A C W
A C W
A C W
A C W
A C W
A C W
A C W
A C W
A C W
A C W
A C W
Alliance partners
providing security,
growth & retention,
operations, technology
and lending solutions
Online Vendor
Management and Due
Diligence Platform
On-Site Consumer
Compliance Services
A C W
A C W
Professional Employer
Organization (PEO)
focused on providing
health benefits, HR
services and payroll
processing
A C
Debit/Credit Processing
and Rewards
Web-based Financial
Literacy Program
Service availability by state:
A
A
A
A
C W
Shared Branching
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O
M
Re em
t e be
nt r G
io ro
n
w
th
ian
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Co
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Se
De rvi
sc ces
rip
tio
n
Partner
A Arizona
C Colorado
W Wyoming
Share Draft Printing;
Marketing and
Integrated Client
Solutions
A C W
A C W
Debit/Credit/Prepaid
Card Processing
A C W
A C W
A C W
A C W
A C W
A C W
A C W
Member Discounts
In
Lo cre
an asi
s ng
Te
& chn
In ol
no og
va y
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M
& em
Re be
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O
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De rvi
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rip
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Partner
A C W
Vehicle Valuations
A
Vehicle Valuations
C W
Online Consumer
Compliance Services
A C W
A C W
Office Products; Print
and Document Services
A C W
A
Vehicle Repossession
and Remarketing
A C W
Online and Print
Statement Solutions
A C W
A C W
Powered by Primeritus Financial Services
Member/Business
Discount Programs;
Credit Union Rebates
Service availability by state:
A C W
A C
A Arizona
C Colorado
W Wyoming
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fFinancials
The Mountain West Credit Union Association comparative financial statements are
presented in the Annual Report in a fully consolidated format. These statements
include the Mountain West Credit Union Association and the Association’s wholly
owned subsidiary, Credit Union Strategic Partners (Strategic Partners).
JOHN UCHIDA
Treasurer
The firm of Tinucci, Jones and Company, P.C. was contracted to perform the annual
audit. An unqualified opinion was rendered for the year ended December 31, 2013,
on the accompanying consolidated financial statements for the Mountain West
Credit Union Association and its subsidiary.
Since the Association owns 100% of Strategic Partners, the net income from the for-profit subsidiary
is combined with the income from the non-profit trade association. The consolidated financial
statements of Mountain West Credit Union Association and Strategic Partners reflect total assets
of $18,691,242 and net assets (capital) of $17,189,231. Net assets as of December 31, 2012 were
$16,324,021. The activities that result in this increase to net assets of $865,210 are operating revenues
of $6.4 million, operating expenses of $6 million, realized and unrealized net gain on investments
of $435,516, income taxes of $84,027, an increase in restricted net assets due to contributions to
Advanced Strategies of $15,250 and other comprehensive gain of $166,258.
From the for-profit perspective of Strategic Partners, 2013 shows an after tax net gain of $107,803,
versus the net gain in 2012 of $257,592. This year-over-year variance of $149,789 is due to an increase
in investment income of 75%, a decrease in income from products and services of 7% and an increase
in operating expenses of 3%. Strategic Partners ended 2013 with total assets of $13,219,332 and net
assets (capital) of $12,211,676. Net assets as of December 31, 2012 were $11,936,507. The activities
that result in this increase to net assets of $275,169 are operating revenues of $3.3 million, operating
expenses of $3.1 million, less income tax of $84,027.
The combined balance sheet shows a healthy and liquid condition with 58% of total assets in cash,
certificates of deposit and marketable investments.
The Mountain West Credit Union Association pledges to operate in an ethical and fiscally responsible
manner. The board of directors and management continue to review and adjust all operations and
services as necessary to provide value, leadership, and high-quality services for our member credit
unions.
Respectfully submitted,
John Uchida, Treasurer
10
fFinancials
Consolidated Financial Statements
Mountain West Credit Union Association and Subsidiary
Consolidated Statements of Financial Position
December 31, 2013 and 2012.
2013
Assets
Current assets:
Cash & cash equivalents
Cash & cash equivalents - restricted
Accounts receivable
Core products held for re-sale
Other current assets
Total current assets
Investments:
Marketable investment securities
Marketable investment securities,
deferred compensation plans
Certificates of deposit
Credit Union House, LLC
CU Service Network, LLC
Members Trust Company, FSB
Other
Total investments
Property & equipment, at cost:
Land
Building and improvements
FF&E and auto
Less accumulated depreciation
Total property & equipment
Other assets:
Deferred tax asset
Accounts receivable, noncurrent
Other
Total other assets
Total assets
2012
$1,189,326
15,251
877,423
197,000
140,073
$2,419,073
$1,485,978
0
798,352
216,000
153,467
2,653,797
7,537,876
6,231,096
1,287,655
452,806
849,979
670,672
409,634
92,227
337,358
1,185,401
1,434,620
669,801
358,048
92,227
285,643
9,524,241
646,283
3,364,622
1,998,452
6,009,357
1,743,965
4,265,392
646,283
3,350,030
2,011,012
6,007,325
1,610,954
4,396,371
604,649
206,417
10,310
821,376
781,232
209,166
10,310
1,000,708
$18,691,242
$17,575,117
11
fFinancials
Liabilities & Net Assets
Current liabilities:
Accounts payable
Property taxes payable
Other current liabilities
Total current liabilities
2012
$266,309
72,000
342,738
681,047
Total liabilities
1,502,011
Net Assets:
Unrestricted
Temporarily restricted
Accumulated other comprehensive
income, Subsidiary
16,670,820
76,679
$255,149
70,000
176,035
501,184
218,714
452,806
78,392
749,912
1,251,096
15,987,118
61,429
441,732
275,474
17,189,231
16,324,021
$17,575,117
Other liabilities:
Accrued compensated absences
Deferred compensation plans
Other
Total other liabilities
Total net assets
Total liabilities & net assets
12
2013
209,584
542,506
68,874
820,964
$18,691,242
fFinancials
Mountain West Credit Union Association and Subsidiary
Consolidated Statement of Activities
December 31, 2013 and 2012.
Operating revenue:
Membership dues
Conferences/education
Core products
Product alliances
Rental income
Investment income
Other income
Total operating revenue
20132012
$2,268,882
801,952
2,704,484
110,441
114,009
344,627
48,598
6,392,993
$2,300,975
755,035
2,903,679
122,358
94,140
223,245
102,856
6,502,288
3,431,137
591,833
270,709
180,235
937,613
649,253
6,060,780
3,407,514
643,446
324,000
204,985
966,634
610,145
6,156,724
Excess of operating revenue over expenses
332,213
345,564
Other programs and changes in net assets:
Realized and unrealized investment gains
Income taxes
435,516
(84,027)
196,308
(146,178)
Total other increases (decreases) in net assets
351,489
50,130
Increase in unrestricted net assets
683,702
395,694
15,250
0
698,952
395,694
Net assets, beginning of year
16,324,021
15,762,904
Other comprehensive income
166,258
165,423
$17,189,231
$16,324,021
Operating expenses:
Salaries and benefits
Conferences/education
Cost of core products sold
Government relations
Office operating expenses
Building, rent, depreciation
Total operating expenses
Increase in temporarily restricted net assets
Increase in net assets
Net assets, end of year
The Mountain West Credit Union Association comparative financial statements are presented in the Annual Report
in a fully consolidated format. These statements include the Mountain West Credit Union Association and the
Association’s wholly owned subsidiary, Strategic Partners.
A copy of the audited financial statements is available upon request at the Association office.
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fCredit Union Year-End Statistics
Affiliated credit unions as (of 12/31/13)
A.E.A. FCU
A.P.C. EFCU
Air Academy FCU
Akron FCU
Alhambra CU
Altier CU
American Southwest CU
Arapahoe CU
Arizona Central CU
Arizona FCU
Arizona State CU
Ashoka CU
Atlantic City FCU
Aurora FCU
Aurora Schools FCU
Aventa CU
B.C.S. Community CU
Banner FCU
Bashas Associates FCU
Bellco CU
Big Thompson FCU
Blue Spruce FCU
Boulder Municipal Empl. FCU
Boulder Valley CU
Campco FCU
Canyon State CU
Cheyenne-Laramie County Empl. FCU
Cochise CU
Coconino FCU
College Credit Union of Greeley
Colorado CU
Coloramo FCU
Columbine FCU
Community Choice CU
Community Financial CU
Coors CU
Credit Union of Colorado
Credit Union of Denver
Credit Union of the Rockies
D C CU
Deer Valley CU
Denver Community FCU
Denver Fire Department FCU
Desert Medical FCU
Desert Schools FCU
E.M. FCU
Elevations CU
ENT FCU
F C I FCU
Families First FCU
Fellowship CU
First American CU
First CU
First Cheyenne FCU
First Education FCU
Fitzsimons FCU
Foothills CU
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Members
39,080
201
45,339
331
3,990
17,643
20,921
9,775
56,781
135,288
130,166
309
9,634
7,669
7,197
19,635
3,322
9,719
4,872
225,838
1,807
1,181
6,834
21,915
10,636
16,110
2,600
4,136
8,319
3,633
10,042
7,866
3,853
4,721
11,775
15,445
98,494
54,343
10,045
1,232
15,098
25,028
5,844
2,234
308,054
1,502
102,686
232,632
978
1,103
2,332
22,380
42,341
4,442
5,544
17,531
6,805
Shares
218,098,004
995,279
428,544,666
715,074
17,563,248
158,314,233
161,351,177
90,803,755
364,989,904
1,076,410,752
1,314,355,848
2,264,888
95,143,845
67,009,014
86,273,743
136,360,109
20,392,226
48,843,428
13,411,444
2,103,098,583
11,833,312
4,797,807
59,487,618
287,783,065
68,338,189
119,344,845
17,500,777
24,185,115
52,631,690
38,201,946
105,048,744
67,270,685
45,797,573
33,374,549
125,362,291
149,575,672
985,592,837
508,152,486
77,061,929
5,277,332
186,081,757
219,213,551
115,708,469
8,807,426
2,788,178,537
5,767,786
1,204,795,099
3,116,336,455
4,413,080
5,938,525
10,127,335
92,665,137
369,844,727
24,890,746
44,356,771
143,486,708
58,394,602
Loans
184,497,133
672,236
363,256,547
444,741
12,486,744
123,077,250
102,054,016
73,830,482
252,192,964
521,974,501
953,595,894
1,857,204
64,181,065
40,821,614
54,336,918
123,225,253
16,495,237
21,334,239
6,073,121
1,919,195,800
4,483,033
2,395,659
34,418,718
122,603,866
44,689,365
79,086,855
7,988,497
16,546,232
26,492,375
26,526,750
89,410,055
26,136,618
24,501,812
19,045,370
114,540,850
113,285,182
597,681,935
314,610,314
48,306,585
3,556,383
91,607,792
123,380,998
31,826,108
5,586,114
1,273,503,985
3,028,804
702,669,557
2,215,056,191
2,281,065
5,514,543
8,515,865
63,628,692
225,830,858
18,405,061
17,883,548
83,185,861
48,276,722
Assets
233,872,033
1,211,910
470,009,634
787,009
19,614,250
173,181,194
177,603,081
100,689,619
403,446,974
1,243,346,680
1,604,884,179
2,431,761
106,095,178
77,684,399
96,398,003
152,630,682
24,658,223
55,341,912
15,086,116
2,465,882,983
12,832,378
5,283,568
64,642,668
315,259,319
76,061,369
137,194,366
19,917,990
28,091,054
58,366,411
44,021,007
118,040,930
77,194,142
50,451,742
38,445,010
146,473,620
169,106,203
1,129,201,222
572,707,544
85,617,672
6,991,901
204,003,585
256,966,991
129,959,898
9,725,784
3,221,716,494
7,304,125
1,365,335,779
3,911,926,439
5,779,017
6,817,785
11,563,169
101,314,161
402,532,098
27,438,342
48,212,346
165,013,332
65,108,859
Net Worth NW/Assets
11,048,289
4.72%
216,498
17.86%
37,585,940
8.00%
70,852
9.00%
1,846,407
9.41%
13,811,593
7.98%
15,989,808
9.00%
9,475,203
9.41%
35,889,812
8.90%
146,527,835
11.78%
149,820,214
9.34%
165,086
6.79%
11,207,137
10.56%
9,829,384
12.65%
9,827,618
10.19%
14,363,865
9.41%
4,221,383
17.12%
5,830,447
10.54%
1,629,892
10.80%
276,550,507
11.22%
957,723
7.46%
476,836
9.02%
4,802,491
7.43%
27,462,003
8.71%
7,343,398
9.65%
15,741,256
11.47%
2,341,036
11.75%
3,866,287
13.76%
5,209,473
8.93%
5,717,948
12.99%
11,514,393
9.75%
9,544,171
12.36%
4,694,098
9.30%
4,640,570
12.07%
19,024,581
12.99%
19,833,881
11.73%
127,197,979
11.26%
62,005,433
10.83%
8,579,336
10.02%
1,646,454
23.55%
16,686,056
8.18%
35,642,987
13.87%
14,500,257
11.16%
843,686
8.67%
334,453,325
10.38%
1,529,557
20.94%
126,099,570
9.24%
468,472,634
11.98%
1,354,524
23.44%
846,797
12.42%
1,413,773
12.23%
7,425,449
7.33%
34,191,202
8.49%
2,498,862
9.11%
3,530,227
7.32%
19,731,448
11.96%
6,510,325
10.00%
Ln/Sh
84.59%
67.54%
84.77%
62.20%
71.10%
77.74%
63.25%
81.31%
69.10%
48.49%
72.55%
82.00%
67.46%
60.92%
62.98%
90.37%
80.89%
43.68%
45.28%
91.26%
37.88%
49.93%
57.86%
42.60%
65.39%
66.27%
45.65%
68.41%
53.37%
69.44%
85.11%
38.85%
53.50%
57.07%
91.37%
75.74%
60.64%
61.91%
62.69%
67.39%
49.23%
56.28%
27.51%
63.43%
45.68%
52.51%
58.32%
71.08%
51.69%
92.86%
84.09%
68.67%
61.06%
73.94%
40.32%
57.97%
82.67%
Fort Morgan Schools FCU
Green River Basin FCU
Guadalupe Parish CU
Harrison District No 2 FCU
Haxtun Community FCU
Holyoke Community FCU
Horizons North CU
Hughes FCU
I.U.O.E. #9 CU
J.A.C.L. CU
Lamar Civic FCU
Landings CU
Laramie Plains Community FCU
Legal Community CU of Colorado
Meridian Trust FCU
Metrum Community CU
Minnequa Works CU
Mohave Community FCU
Mountain River CU
Northwest United FCU
Otero County Teachers FCU
Partner Colorado CU
Peoples CU
Pikes Peak CU
Pima FCU
Pinal County FCU
Porter FCU
Powell Schools FCU
Power CU
Premier Members FCU
Public Service Employees CU
Pueblo Government Agencies FCU
Pueblo Horizons FCU
Pyramid FCU
Ray FCU
Red Rocks CU
Reliant FCU
Rio Grande Operating CU
River-Rail Community FCU
Rocky Mountain Law Enforcement FCU
Routt Schools FCU
San Juan Mountains CU
San Tan CU
School District 3 FCU
Shamrock Foods FCU
Sheridan Community FCU
Snowflake Mills FCU
Sooper CU
Southeastern Arizona FCU
Southwest Health Care CU
Space Age FCU
Sterling FCU
Sun West FCU
Sunlight FCU
Sunwest Educational CU
Sweetwater FCU
Tombstone FCU
Trona Valley Community FCU
TruWest CU
Tucson FCU
Members
611
2,134
2,919
1,652
560
2,887
8,043
79,640
614
190
1,112
18,067
4,962
772
21,709
4,731
19,277
5,326
3,758
5,523
1,215
30,004
2,500
8,745
51,413
19,411
2,697
457
11,745
40,557
148,844
3,639
3,671
15,736
1,822
16,727
11,151
1,467
5,188
11,454
872
3,108
1,521
2,068
1,423
4,546
2,133
32,955
5,640
2,212
14,339
8,780
42,942
11,233
10,832
2,541
1,956
20,091
63,532
48,516
Shares
3,851,449
10,695,220
13,292,024
9,733,950
3,767,621
29,627,055
63,013,452
678,382,738
2,379,042
685,932
5,135,636
121,068,476
34,664,270
3,735,710
250,832,031
48,458,055
146,346,189
23,685,232
20,861,558
70,906,295
3,786,821
208,580,974
35,424,001
67,860,857
343,667,872
97,643,875
19,403,509
1,839,255
74,085,543
400,923,352
1,180,729,646
22,042,788
23,299,734
115,759,932
5,765,809
209,025,364
95,591,839
7,028,026
32,193,999
141,061,652
3,999,614
23,827,927
8,784,588
17,889,584
3,654,347
30,354,612
10,449,783
237,820,320
24,153,367
13,623,146
94,106,185
104,045,669
228,782,341
86,040,408
97,887,910
18,593,959
7,484,113
141,781,188
726,953,699
315,476,735
Loans
2,418,567
6,707,696
12,462,938
5,025,644
2,692,951
26,249,173
43,052,354
588,313,296
1,151,820
264,095
2,942,214
77,672,002
29,734,642
3,414,956
162,262,231
32,074,201
71,471,749
18,429,524
10,689,659
34,669,974
1,859,099
195,011,767
28,645,949
49,078,004
195,562,623
60,497,566
5,304,670
1,145,991
41,868,383
362,121,110
729,195,436
10,957,812
12,566,566
75,411,614
4,413,992
151,521,356
63,386,665
2,621,097
24,287,282
98,692,103
1,537,662
18,924,093
4,385,414
8,450,547
3,592,098
29,936,558
6,856,415
148,854,325
13,743,852
8,141,169
76,782,415
38,958,634
181,989,073
32,802,084
59,125,489
7,560,239
6,998,538
122,734,870
637,947,201
195,837,128
Assets
4,543,710
11,606,233
20,011,860
11,607,736
4,321,500
32,187,330
69,393,522
753,182,107
2,571,211
836,247
5,548,697
132,287,130
38,647,898
4,115,901
283,914,213
55,979,210
163,660,277
26,087,619
22,764,770
78,376,893
4,231,583
260,283,948
41,505,136
74,571,938
401,581,047
105,086,443
23,284,665
2,003,136
83,715,003
455,909,014
1,325,410,486
25,949,869
27,214,185
131,301,142
6,878,743
233,574,759
105,143,752
8,266,709
35,195,325
170,239,074
4,377,890
26,127,264
9,606,494
20,436,662
4,094,783
34,412,017
11,854,158
276,342,271
28,002,138
15,225,930
103,600,525
122,330,097
270,079,246
98,271,698
108,172,731
21,481,838
8,255,876
159,038,304
826,260,837
349,280,766
Net Worth NW/Assets
689,248
15.17%
899,521
7.75%
6,680,617
33.38%
1,826,980
15.74%
545,421
12.62%
2,506,316
7.79%
6,104,329
8.80%
69,466,997
9.22%
148,939
5.79%
145,713
17.42%
390,081
7.03%
10,940,868
8.27%
3,943,892
10.20%
366,370
8.90%
29,950,090
10.55%
6,955,035
12.42%
17,354,327
10.60%
2,003,587
7.68%
1,874,184
8.23%
6,693,557
8.54%
439,036
10.38%
32,586,745
12.52%
5,957,545
14.35%
6,548,868
8.78%
41,413,971
10.31%
7,712,790
7.34%
3,672,292
15.77%
163,881
8.18%
8,833,889
10.55%
49,745,462
10.91%
138,010,936
10.41%
3,771,779
14.53%
3,608,869
13.26%
13,195,068
10.05%
1,057,613
15.38%
21,146,209
9.05%
9,661,218
9.19%
1,220,229
14.76%
2,897,101
8.23%
27,177,215
15.96%
368,470
8.42%
2,254,862
8.63%
697,623
7.26%
2,483,656
12.15%
412,856
10.08%
3,884,765
11.29%
1,362,740
11.50%
35,472,267
12.84%
3,647,953
13.03%
1,554,433
10.21%
8,969,075
8.66%
17,575,171
14.37%
41,242,593
15.27%
12,270,992
12.49%
9,587,934
8.86%
2,619,760
12.20%
200,466
2.43%
17,027,434
10.71%
88,639,108
10.73%
30,152,472
8.63%
Ln/Sh
62.80%
62.72%
93.76%
51.63%
71.48%
88.60%
68.32%
86.72%
48.42%
38.50%
57.29%
64.16%
85.78%
91.41%
64.69%
66.19%
48.84%
77.81%
51.24%
48.90%
49.09%
93.49%
80.87%
72.32%
56.90%
61.96%
27.34%
62.31%
56.51%
90.32%
61.76%
49.71%
53.93%
65.14%
76.55%
72.49%
66.31%
37.29%
75.44%
69.96%
38.45%
79.42%
49.92%
47.24%
98.30%
98.62%
65.61%
62.59%
56.90%
59.76%
81.59%
37.44%
79.55%
38.12%
60.40%
40.66%
93.51%
86.57%
87.76%
62.08%
15
Tucson Old Pueblo CU
U-Haul FCU
Uniwyo FCU
Valley Educators CU
Vantage West CU
Warren FCU
Western Rockies FCU
Westerra CU
Westminster FCU
White Crown FCU
Winslow Santa Fe CU
Winslow Schools EFCU
WYHY FCU
Wyo Central FCU
Yellowstone FCU
Yuma County FCU
A.C.P.E. FCU
Aero FCU
Arkansas Valley FCU
Cit-Co FCU
CO-NE FCU
Credit Union West
Delta County FCU
Eaton Employees FCU
Electrical FCU
Grand Junction FCU
Greater Wyoming FCU
Guernsey Community FCU
Jeffco FCU
Junction Bell FCU
Mapleton Public Schools FCU
MariSol FCU
Moffat County Schools FCU
NuVista FCU
Olathe FCU
One Thirteen CU
Prescott FCU
Rio Blanco Schools FCU
Rio Grande FCU
Shyann FCU
Southwest Colorado FCU
St. Mary CU
St. Michaels FCU
Star Tech FCU
Unified People's FCU
Weld Schools CU
West Denver Community CU
Western Vista FCU
Wyochem FCU
Members
11,703
3,467
19,603
1,081
123,921
47,636
14,463
86,523
3,894
6,466
1,978
534
13,247
3,484
1,030
2,445
4,181
15,621
3,044
1,857
1,240
52,917
4,366
121
4,490
4,658
3,094
393
1,762
1,698
465
7,115
1,020
7,331
243
1,636
1,310
733
4,589
917
3,523
1,966
232
1,350
3,746
6,042
1,963
9,475
2,525
Shares
123,603,305
4,406,338
215,510,441
4,627,419
1,083,699,859
425,274,754
94,572,748
1,040,366,210
28,629,046
51,516,538
10,780,099
3,930,282
165,395,144
26,520,322
4,557,358
27,812,642
37,186,964
170,816,437
10,216,336
10,836,156
3,123,495
454,675,881
38,345,984
345,501
28,750,988
45,432,125
22,030,434
1,624,489
15,169,659
16,342,178
1,690,749
29,238,950
4,467,757
72,445,977
459,364
7,913,564
5,246,714
4,351,412
36,217,499
6,229,914
36,007,499
7,533,813
898,903
6,454,569
33,399,511
53,922,607
7,711,196
98,853,355
14,754,398
Loans
62,287,010
3,841,502
150,204,792
2,946,039
1,092,884,156
412,784,592
47,625,182
806,715,743
20,912,353
28,198,029
4,591,185
1,913,981
147,185,729
19,243,454
2,554,105
11,310,819
22,687,107
82,324,109
4,948,915
8,326,366
2,395,151
360,471,007
17,109,395
147,429
17,150,024
30,846,591
14,021,484
1,091,786
8,903,912
9,019,905
549,745
16,615,760
2,373,062
52,613,338
221,494
5,154,780
3,430,986
3,724,037
17,080,632
3,624,251
11,074,951
2,749,693
309,306
3,478,816
16,567,243
24,910,417
3,833,397
70,367,394
10,171,933
3,034,876
27,724,313,176
19,138,296,423
Assets
134,219,173
5,146,422
247,910,208
5,025,582
1,267,683,239
494,108,997
104,487,968
1,267,191,513
31,862,296
56,827,239
12,325,727
4,509,281
185,927,799
29,318,516
4,883,149
31,530,308
40,600,069
205,161,503
11,420,305
11,817,212
3,593,770
512,204,102
42,369,995
428,480
31,259,989
54,150,379
24,496,194
1,880,774
18,082,880
18,829,497
2,018,851
32,637,354
4,947,532
78,866,137
518,018
8,775,250
6,229,787
5,337,203
44,609,897
7,365,418
40,835,370
8,981,612
981,329
7,894,983
41,311,290
59,137,309
8,893,546
125,678,408
16,287,243
Net Worth NW/Assets
9,086,502
6.77%
726,288
14.11%
26,256,211
10.59%
390,617
7.77%
159,750,217
12.60%
44,919,908
9.09%
10,347,377
9.90%
152,736,254
12.05%
3,193,676
10.02%
5,262,943
9.26%
1,530,739
12.42%
570,466
12.65%
19,597,108
10.54%
2,697,582
9.20%
317,688
6.51%
3,546,803
11.25%
3,374,694
8.31%
32,709,256
15.94%
1,168,787
10.23%
942,270
7.97%
458,512
12.76%
55,427,975
10.82%
3,961,004
9.35%
82,097
19.16%
2,476,780
7.92%
8,695,933
16.06%
2,353,362
9.61%
255,525
13.59%
2,706,545
14.97%
2,459,129
13.06%
324,189
16.06%
2,926,909
8.97%
471,883
9.54%
6,089,082
7.72%
58,654
11.32%
858,535
9.78%
926,662
14.87%
968,392
18.14%
8,308,627
18.63%
1,126,934
15.30%
4,457,957
10.92%
1,443,362
16.07%
82,426
8.40%
1,435,816
18.19%
7,661,127
18.54%
4,886,406
8.26%
1,136,335
12.78%
16,701,325
13.29%
1,513,352
9.29%
32,144,673,103 3,443,899,593
10.71%
Ln/Sh
50.39%
87.18%
69.70%
63.66%
100.85%
97.06%
50.36%
77.54%
73.05%
54.74%
42.59%
48.70%
88.99%
72.56%
56.04%
40.67%
61.01%
48.19%
48.44%
76.84%
76.68%
79.28%
44.62%
42.67%
59.65%
67.90%
63.65%
67.21%
58.70%
55.19%
32.51%
56.83%
53.12%
72.62%
48.22%
65.14%
65.39%
85.58%
47.16%
58.17%
30.76%
36.50%
34.41%
53.90%
49.60%
46.20%
49.71%
71.18%
68.94%
69.03%
Net Worth = Regular Reserve, Undivided Earnings,Other Reserves, Merged Equity
16
fAssociation Staff
Administration
Credit Union Relations
Scott Earl, President/CEO
Mike Atchison, SVP/Credit Union Relations
Lora Martinez, Director of Corporate Affairs
Dixie Hill, VP of Credit Union Advantage
Jaquetta Ward, Association Support Manager
Rick Cranston, Director of Business and Product
Development
Crystal Maldonado, Administrative Specialist
David Garner, Office Assistant
Ruben Martinez, Facilities Maintenance
Accounting
Shaun Ongstad, SVP/Controller
Amy Falconetti, Accounting Manager
Robin Kalmbach, Accounting Clerk
Association Services
Dr. Dan Santangelo, SVP/Association Services
Nicole Brusewitz, VP of Education/Events
Diana Stoick, Director of Events
Larry Jones, Credit Union Advantage
Representative
Rob Montoya, Credit Union Advantage
Representative
Mary Lee Blommel, Credit Union Relations
Representative
Lisa Drewry, Business Services Consultant
Government Affairs
Timothy Dore, SVP/General Counsel
Austin DeBey, VP Legislative Affairs
Christopher Kemm, VP Political Affairs
Dan Finerty, Director of Marketing
Patti Hazlett, Director of Corporate
Communications
Rob Stahl, Manager of Information Technology
Deb Larrabee, Political Coordinator
Shay Jacobs, Education/Training Coordinator
Shelley Johnson, Association Services Coordinator
Regulatory Affairs
Mark Robey, SVP/Regulatory Affairs
Melia Heimbuck, Director of Compliance
Julie Kappenman, Director of Association
Compliance Services
Donna Gibbs, Administrative Assistant
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MWCUA 14 Annual Report - MWCUA Mountain West Credit Union

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