MWCUA12 Annual Report - MWCUA Mountain West Credit Union

yourself to live your life as a revolution
“Promise
and not just a process of evolution.
“
– Anthony J. D’Angelo
Chairman’s Message
Mike Williams
Chairman
There are many words that come to mind when I reflect on the past year. But out of all of them,
perseverance, collaboration and evolution are most prominent.
Credit unions have more than one hundred years of history during which the industry has consistently evolved and
changed. Change is often difficult and full of uncertainty. It is however, inevitable and necessary for continued
success. Through the process of merging our three states into one Association, we have not only weathered
challenging times, but have also evolved while remaining true to our historical credit union values.
Looking back, the successes that we are celebrating now are the result of consistent focus of leadership
throughout Arizona, Colorado and Wyoming. My fellow board members have selflessly shown an unwavering
commitment to collaboration and have created a strong future for this organization. In addition, I want to extend
my gratitude for the effort and dedication I’ve seen from the Association staff and management, as well as the
exceptional leadership that our President, Scott Earl, has provided, ensuring the success we’ve enjoyed.
Louise Herring, one of the great pioneers of the credit union movement, once said, “We must remember what
we started out to do and then find ways to do it with the modern techniques available.” One year after our states
have merged, my expectations have been exceeded. We are seeing the economies of scale that we set out to
create. By combining efforts, your Association has been able to combine resources to increase efficiency and
eliminate redundancy, with the ultimate goal of achieving financial success for our member credit unions. We
are seeing Association dues stretch further while seeing a continued increase in member service.
As the marketplace changes and credit unions face new challenges, our Association continues to provide relevant
and valued services and will remain a vital resource. Our Association has worked to increase communication
among our three states and create a true collaborative, tri-state network, which has expanded and deepened
relationships and involvement throughout the greater credit union community.
It has been one year and I can say that I am proud of the commitment and focus. No transition is perfect,
and we will always have work ahead of us if we are to persevere and continue to evolve as an organization, a
collaborative network and a movement. However, we are moving in a positive direction. In closing, I leave you
“Coming together is a beginning.
Keeping together is progress. Working together is success.”
with a few words from Henry Ford,
2
president’s Message
I ran across a quote the other day that I had not seen before. It comes
from credit union pioneer Edward Filene. A very successful entrepreneur,
he saw the difference credit unions could make for the average American
and spent over a million dollars of his own money to help create the
“The door to success
is always labeled ‘Push.’ ”
movement we enjoy today. He said,
Throughout the history of the credit union movement there have always
been those individuals who pushed and made success happen. Much like
Filene they pushed their credit union, league or the Credit Union National
Association to new heights.
Scott Earl
President / CEO
Today, we stand at the beginning of the Mountain West Credit
Union Association. It plows new ground for credit unions in the United States. It’s the first time
that the credit unions in three states have come together in one association. While I could cite a myriad of
sound reasons for this move, the bottom line is that Wyoming, Colorado and Arizona credit unions made a
bold move to reach beyond their borders and pushed to find new ways to work together. I want to pay tribute
to the board members of each state organization and especially the chairmen, Marsha Tynsky, Bob Ramirez
and Mike Williams. I am extremely grateful for these great leaders that recognized change needed to happen
and pushed to create increased cooperation.
As our annual meeting theme suggests, we are constantly evolving to meet the needs of our members. We
are stepping up our efforts in the regulatory arena, doing more on behalf of credit unions with lawmakers
and the media, and developing new and innovative approaches to providing education and training. On top
of that, our service corporation, Strategic Partners, is adding new products and services. The merger has also
reduced redundancies and created over $500,000 in savings in our first full year.
Our goal is to be the type of organization where each and every credit union sees increasing value. We want
to see more and more credit unions working together for success and we want to be the catalyst for that
cooperation. Along those lines, there are currently credit unions that are not members of the Association.
We will be working hard to encourage them to rejoin. I would ask you, as peers, to invite them back to the
Association. If all the credit unions that are not members had joined this year, each credit union would have
seen a 12 percent reduction in their dues.
As I conclude this report, I want to thank each of you for your ongoing support. I also want to thank an
amazing staff who has come together more quickly than anyone would have guessed. They are committed to
our mission and the success of the credit union movement. I am honored to work with these fine individuals.
Let’s continue to “push through that door to success.”
3
Mountain West Credit Union Association
Board of Directors
4
Chairman
Mike Williams
Colorado Credit Union
Vice-Chair
Bob Ramirez
Vantage West
Credit Union
Vice-Chair
Marsha Tynsky
Trona Valley Community
Federal Credit Union
Treasurer
John Uchida
Space Age Federal
Credit Union
Secretary
Susan Frank
Desert Schools Federal
Credit Union
Keith Cowling
Credit Union of Denver
Colleen Curtis
Southwest Healthcare
Credit Union
Dan Desmond
TruWest Credit Union
Dave Maus
Public Service
Credit Union
Sundie Seefried
Partner Colorado
Credit Union
Jim Yates
First Education Federal
Credit Union
association report
Regulatory Affairs & Compliance
2011 marked the formation of a three-state regulatory subcommittee that has provided valuable input to
the Association and federal regulators on the impact of proposed regulation. It offers a much needed credit
union perspective in a rapidly changing regulatory environment. Member credit unions are encouraged
to provide comments, which often bring issues and perspectives to light, highlight potential unintended
consequences and offer possible alternatives.
Last year, Mountain West Credit Union Association expanded its compliance guidance and assistance to
credit unions. Our dedicated compliance team is focused on rapidly responding to credit union questions.
Weekly newsletters highlight timely and important state and federal compliance issues, while the online
library, InfoSight, is available 24/7 to answer common compliance questions with checklists, tables,
frequently asked questions, model forms and policies.
The compliance team visited over 50 credit unions and met with CEOs and senior staff to introduce
“InCompliance,” get feedback and learn about critical compliance needs. The “InCompliance” package
delivers both detailed and high-level information on new or proposed regulations. Its easy-to-understand
checklists and step-by-step guides are designed for all levels of member credit union staff to save time
when implementing regulatory changes.
Since the merger, the Regulatory Affairs and Compliance team has worked to significantly improve
regulatory advocacy efforts, including rule review and revision. They have held and participated in more
than ten meetings with state and federal regulators and have successfully intervened on behalf of credit
unions to help resolve examination issues and general regulatory problems.
5
association report (cont.)
Advocacy
Member participation in our advocacy and grassroots programs in 2011 has been overwhelming. We
have worked to expand our advocacy efforts through a variety of new and improved communications,
endorsement of credit union friendly candidates, community involvement, partnerships and grassroots
advocacy.
In 2011’s Hike The Hill, 18 credit union leaders and Association staff from Arizona, Colorado and Wyoming
traveled to Washington DC to visit with lawmakers on Capitol Hill. These are complex and challenging
times for credit unions. We never underestimate the importance of advocacy, and we value the passion and
efforts of our member credit unions to remain visible.
We hosted several legislative events throughout 2011 in an effort to show our appreciation for the credit
union friendly candidates who continue to support us. In Colorado, a roundtable was held at Elevations
Credit Union with Congressman Jared Polis, Congressman Scott Tipton visited Minnequa Works Credit
Union and a reception was held for Congressman Cory Gardner. In Arizona, advisory committees were set
up for Congressman David Schweikert and Ben Quayle. Arizona receptions were also held on behalf of Kirk
Adams for Congress, Ann Kirkpatrick for Congress and Representative Jeff Flake for U.S. Senate. Finally,
we attended a Consumer Financial Protection Bureau meeting with Assistant Director Elizabeth Vale.
Working together with the Credit Union National Association (CUNA) and other Associations and Leagues
across the country on initiatives, such as Project Zip Code, has increased our grassroots strength as a
collaborative network. In 2011, we surpassed our Credit Union Legislative Action Council (CULAC) goal
in Arizona, Colorado and Wyoming by raising a total of $85,573. We continue to build and cultivate these
relationships with CUNA and other cooperative organizations in an effort to increase our grassroots strength.
Education
In 2011, 84% of affiliated credit unions attended one or more training sessions or events offered by the
Training & Education Department. Thirty five live programs, including conferences, schools and one-day
classes, were conducted in 18 cities. Additionally, we held 160 webinars and telephone trainings in which
compliance and mandate training topics were the most popular topics. In 2011, our members depended
on us to be one of the first places to offer required trainings under National Credit Union Association
(NCUA) Guidelines like Required Financial Literacy Training for Directors.
We are committed to keeping education and training affordable to smaller credit unions and offer all credit
unions under $35M in assets a small credit union discount for our conferences and schools.
In an on-going effort to support the development of credit union leaders, we launched the Credit Union
Leadership Institute in 2011. This eight-month intensive program is limited to non-CEO participants. The
inaugural class in Wyoming had 11 participants from nine member credit unions. The program has been
met with enthusiasm and the potential for tremendous growth as it expands to Arizona in 2012.
6
Public Relations and Member Communications
In 2011, Mountain West Credit Union Association continued to use public relations and communications to
keep member credit unions updated, to promote achievements, to offer assistance in developing situations
and to help educate consumers. Several newsletters, including the President’s Report, Association News,
Regulatory Compliance Update, CU Scoop and Education Updates, keep member credit unions on top of
events, trends and new information.
The Association works hard to cultivate relationships with media and other influential community leaders in
order to promote member credit unions’ achievements and the overall credit union message. We also work
hard to be a strong, reliable source for advice, talking points and other materials to help our member credit
unions with crisis communications and sudden hot topics in this demanding economic environment.
We have made efforts and taken steps to increase community outreach and member communications through
a variety of mediums. Our social media networks are expanding to provide increased connections and greater
opportunities. The consumer site and credit union locator, asmarterchoice.org, also continues to educate and
connect consumers and the community with member credit unions. Increased search engine optimization
(SEO) has additionally created a stronger online presence for our members.
The Association had great success last year with Credit Unions for Kids®, a program that enhances visibility
for credit unions while helping children in our communities. Arizona credit unions raised $429,000 to
help fund two hospitals in the Children’s Miracle Network, Phoenix Children’s Hospital and Tucson Medical
Center. Member credit unions in Colorado and Wyoming were introduced to Credit Unions for Kids®, and in
January 2012, a new steering committee was formed to facilitate the growth of the program.
Mountain West Credit Union Association is continuously investigating and investing in new technology to
connect members. Video conferencing is now being utilized to increase connections across state lines, and
we are introducing iMobile technology.
Member Services
Membership is about collective strength and providing a unified voice. Mountain West Credit Union
Association exists to serve our member credit unions and we are working to expand our affiliation rate to
bring greater strength to the member services we provide.
It is our goal to provide red carpet member service, listen to the needs of our members and provide support,
relevant resources and opportunities for continued success and growth. From providing partnered solutions,
resources and education to fighting for regulatory relief and mobilizing our collective political power, we are
here to support our members and promote the credit union message.
7
strategic partners’ report
Strategic Partners Board Members
Mike Williams
Chairman
Colorado Credit Union
Bob Ramirez
Vice Chair
Vantage West Credit Union
Jim Barber
Minnequa Works Credit Union
Jay Curtis
First Credit Union
Larry Knopp
UniWyo Federal Credit Union
Sandy Neves
Fitzsimons Credit Union
Horacio Peralta
B.C.S. Community Credit Union
Nathanael Tarwasokono
Pima Federal Credit Union
Rainy Thoen
Community Choice Credit Union
Through joining forces in 2011, Mountain West has been able to leverage combined strengths to better serve
our member credit unions in all three states. The evolution of Arizona Credit Union League Services and
Credit Union Strategic Partners into the new group, Strategic Partners, allows us to bring the best products,
strategies, compatibility-tested solutions, and business-critical services to your credit union. A new board is
in place for 2012.
Strategic Partners will offer a more refined product with a dynamic core focus. The group is working to build
a more comprehensive, collaborative network with national reach. They have already met with success as
exclusive distributors in a new partnership with NeighborBench, a nationwide online compliance tool.
Compliance Solutions
In 2011, Compliance Solutions, a set of on-site consumer compliance reviews that have worked to improve
credit union compliance operations since 2008, expanded to include Arizona member credit unions in addition
to those in Colorado and Wyoming. Compliance Solutions now serves nearly 30 credit unions and sees great
growth potential in the future.
After careful planning last year, Strategic Partners is pleased to announce a new, 2012 partnership with
NeighborBench, an online compliance tool that provides a full array of consumer regulatory compliance reviews.
The partnership gives Strategic Partners exclusive distributor rights in the credit union community nationwide.
It’s an exciting start for 2012!
NeighborBench uses automated, cloud-based technology that simplifies compliance and will save member
credit unions time and money. This state-of-the-art compliance tool provides credit unions with consumer
compliance assessments in Operations, Deposits, Loans, Advertising, and the Bank Secrecy Act (BSA). The
automated approach provides near real-time assessments and is a powerful industry platform that will maximize
compliance efficiency for our members.
Credit Union Advantage
8
Our credit unions were aggressive in gaining loan growth last year. Credit Union Advantage had a 62% increase
in loan volume in 2011 as they funded over 27,400 loans that resulted in $624 million for our partnering credit
unions. Adding recreational vehicles (RVs) and increasing motorcycle and all-terrain vehicle (ATV) business
contributed to the outstanding increase.
Our 2011 accomplishments are allowing us to increase Credit Union Advantage staff in 2012, which will help
us bring more loans to our member credit unions. Off to a record-breaking start, Credit Union Advantage is
positioned for a successful 2012. There are currently 27 credit unions and over 340 dealerships who participate
in the Arizona indirect lending program. Credit Union Advantage is committed to our members’ success and we
thank you for your continued support.
CUNA Mutual Group
In these uncertain economic times, CUNA Mutual Group remains a committed and proud advocate for credit
unions and the cooperative system. In the past year, CUNA Mutual has added surplus, increased capital and
risk-based capital ratio and grown total assets. These improvements were the result of focusing on delivering
excellent business results with high-quality customer service.
Dedicated to delivering the most relevant products and evaluating current product offerings, CUNA Mutual
continues to invest in credit unions and the members they serve. New products throughout 2011 have proven
to be innovative and pragmatic. The following are highlights and some of the more prominent successes coming
from CUNA Mutual’s investments.
•A new Management and Professional Liability (MPL) policy offers coverage that protects officers and board
members in a way that is more in line with the current legal liabilities faced by persons in these roles.
•More than $16 million was invested in lending products to improve compliance, grow loans and
increase credit union revenue. These efforts resulted in new products, including the launch of
Smartphone Loans through Loanliner.com®. This new tool is helping credit unions increase lending
and reach younger members.
•$748.2 million was paid in claims throughout 2011.
•More than 98% of overall business was retained with growth in many product areas, including the
MemberCONNECT product line.
•In 2011, policyholders of CUNA Mutual overwhelmingly approved a Mutual Holding Company (MHC)
structure. The new structure allows additional flexibility to access capital and diversify holdings.
By broadening businesses, we are confident in CUNA Mutual’s capacity to grow and better serve the credit
union system. CUNA Mutual will uphold credit unions by providing the right solutions and continuing to be a
trusted business partner now and always.
Sprint / Invest in America
The Invest in America (IIA) program, under which the Sprint Discount Cellular Program is housed, has
continued to be a top performer in rebates for credit unions and Strategic Partners. In 2011, the Sprint
program was our third largest income generator with $.33 paid out per member and over $385,000 in
total rebates. The General Motors Discount Program also has expanded rapidly, which has enhanced credit
union value to members and increased loans to participating credit unions.
As a result of their hard work in 2011, IIA was the recipient of the 2012 Herb Wegner Award for Outstanding
Program. They are constantly adding value-driven products for credit union members, including discounts
on TurboTax® and Jackson Hewitt® Tax Services, Dell computers, DIRECTV®, MEMBERS® Auto and
Homeowner Insurance, and much more.
9
treasurer’s report
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 subsidiaries,
ACUL Services, Inc. (ACULS) and 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, 2011, on the accompanying consolidated financial statements for
the Mountain West Credit Union Association and its subsidiaries.
Since the Association owns 100% of ACULS and Strategic Partners, the net income from the for-profit subsidiaries is
combined with the income from the non-profit trade association. The consolidated financial statements of Mountain
West Credit Union Association, ACULS and Strategic Partners reflect total assets of $16,903,709 and net assets
(capital) of $15,762,904. Net assets as of July 1, 2011, the date that the newly merged entity began, were
$15,441,910. The activities that result in this increase to net assets of $320,994 are operating revenues of $3.8
million, operating expenses of $4.0 million, realized and unrealized net loss on investments of $109,573, income
taxes of $51,127, amortization of intangible asset of $40,000, other comprehensive loss of $144,756, and most
significantly is the inherent contribution of $894,021 which is a result of the accounting treatment for the merger.
From the for-profit perspective of ACULS, 2011 shows a before tax net gain of $94,377, versus a slightly higher
net gain in 2010 of $102,972. The Board of Directors of Mountain West Credit Union Association voted to dissolve
and liquidate ACULS effective December 31, 2011. At that time ACULS’ assets and liabilities were returned
to its parent, Mountain West Credit Union Association. In 2012, ACULS’ business activities and its service and
endorsement contracts will be assigned to Strategic Partners.
From the for-profit perspective of Strategic Partners, 2011 shows a before tax net gain of $103,177, versus a
net loss in 2010 of $2,700,516. This year-over-year variance is due to the building impairment of $2,987,000
in 2010; excluding the write-down of the building, Strategic Partners had a before tax net gain in 2010 of
$286,484. Contributing to this year-over-year net operating income variance of ($183,307) is a gain on the sale
of an investment in 2010 of $298,069, and $277,421 higher gross income across most product and service
lines. Offsetting this is a year-over-year decrease in net expenses of $402,195.
The combined balance sheet shows a healthy and liquid condition with 53% 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
Consolidated Financial Statements
MOUNTAIN WEST CREDIT UNION ASSOCIATION AND SUBSIDIARY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
December 31, 2011
Balance Sheet
ASSETS
$
Current Assets
2,083,856
Investments9,345,941
Fixed Assets
4,432,290
Other Assets
1,041,622
$
Total Assets
16,903,709
LIABILITIES & NET ASSETS
Current Liabilities
Other Liabilities
Total Liabilities
Net Assets
Unrestricted Accumulated Other Comprehensive Income
Temporarily Restricted 359,503
781,302
$
1,140,805
$
15,591,424
110,051
61,429
$
Total Net Assets
$
TOTAL LIABILITIES & NET ASSETS
$
15,762,904
16,903,709
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 subsidiaries, ACUL Services, Inc. (ACULS) and Credit Union Strategic Partners
(Strategic Partners).
A copy of the audited financial statements is available upon request at the Association office.
11
Credit Union Statistics by Assets
Credit Union
Members
Shares
Loans
Assets
State
Akron FCU
344
$738,022
$462,117
$814,331
CO
JACL CU
190
$673,446
$160,085
$839,617
AZ
Southern Arizona
Communications CU
400
$1,047,170
$768,324
$1,147,902
AZ
APC EFCU
237
$1,036,182
$685,324
$1,264,900
AZ
Wedenem CU
343
$961,352
$947,378
$1,429,859
CO
Powell Schools FCU
336
$1,837,747
$676,281
$1,985,068
WY
IUOE #9 CU
644
$2,655,016
$1,556,241
$2,829,908
CO
SMW No 9 FCU
919
$2,571,187
$1,557,413
$2,848,545
CO
Englewood Municipal FCU
685
$2,920,820
$1,785,704
$3,415,222
CO
Legal Community CU of Colorado
819
$3,363,994
$2,928,395
$3,662,912
CO
Haxtun Community FCU
537
$3,172,711
$1,515,769
$3,718,746
CO
1,319
$3,365,139
$2,240,764
$3,804,584
CO
Winslow Schools EFCU
Otero County Teachers FCU
543
$3,425,307
$1,837,770
$4,027,097
AZ
Gunnison Western FCU
673
$3,874,422
$2,865,453
$4,045,102
CO
Shamrock Foods FCU
1,307
$3,860,003
$3,086,743
$4,313,968
AZ
U-Haul FCU
2,664
$3,984,629
$2,960,868
$4,361,487
AZ
876
$4,151,633
$1,969,784
$4,554,666
CO
1,063
$4,495,764
$2,785,135
$4,853,544
WY
634
$4,334,256
$2,632,338
$5,055,462
CO
Routt Schools FCU
Yellowstone FCU
Fort Morgan Schools FCU
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Ray FCU
1,486
$4,244,315
$2,314,405
$5,185,822
AZ
Blue Spruce FCU
1,193
$4,916,328
$2,794,737
$5,422,219
CO
Lamar Civic FCU
1,166
$5,115,681
$3,760,482
$5,514,607
CO
Valley Educators CU
1,086
$5,444,030
$2,652,464
$5,809,358
CO
EM FCU
1,384
$4,307,096
$3,207,468
$5,844,947
AZ
Prescott FCU
1,327
$5,065,932
$3,554,894
$5,970,301
AZ
F C I FCU
1,002
$4,578,034
$2,518,156
$6,104,670
CO
Families First FCU
1,024
$5,685,350
$5,179,628
$6,498,866
WY
D C CU
1,178
$5,446,447
$3,463,725
$7,168,255
CO
Rio Grande Operating CU
1,542
$5,849,608
$2,959,872
$7,201,922
CO
West Denver Community CU
2,093
$7,405,017
$4,896,603
$8,586,861
CO
San Tan CU
1,749
$8,219,786
$3,440,943
$9,362,491
AZ
Green River Basin FCU
2,210
$8,551,777
$5,989,275
$9,431,777
WY
Desert Medical FCU
2,318
$8,756,799
$5,564,349
$9,741,699
AZ
Healthone FCU
1,837
$8,519,336
$6,117,783
$9,816,720
CO
Tombstone FCU
2,343
$9,841,532
$9,280,474
$10,671,484
AZ
Arkansas Valley FCU
3,200
$9,855,535
$4,944,570
$11,014,298
CO
Winslow Santa Fe CU
1,961
$9,805,139
$4,379,755
$11,069,910
AZ
Snowflake Mills FCU
2,215
$10,508,057
$7,685,142
$11,849,251
AZ
Credit Union
Fellowship CU
Members
Shares
Loans
Assets
State
2,368
$10,571,853
$9,336,564
$12,069,332
CO
Big Thompson FCU
1,824
$12,080,924
$5,606,391
$12,914,017
CO
Wyochem FCU
2,522
$13,647,034
$9,774,555
$15,192,372
WY
Tucson Healthcare Affiliates FCU
3,396
$14,463,508
$8,233,679
$15,555,436
AZ
Southwest Health Care CU
2,355
$14,166,109
$7,390,927
$15,883,621
AZ
Bashas Associates FCU
5,081
$14,415,484
$6,666,777
$16,128,495
AZ
Saguache County CU
3,185
$15,187,199
$15,345,839
$17,025,494
CO
Guadalupe Parish CU
2,253
$11,803,608
$9,912,280
$18,282,714
CO
School District 3 FCU
2,094
$16,230,320
$8,006,334
$18,557,652
CO
Alhambra CU
3,655
$18,276,753
$12,756,399
$20,013,087
AZ
Sweetwater FCU
2,829
$17,367,360
$7,130,379
$20,238,249
WY
St. Joseph CU
3,674
$19,208,191
$11,483,923
$20,953,376
CO
Cheyenne-Laramie County
Empl. FCU
2,698
$18,578,779
$7,682,148
$21,000,522
WY
Mohave Community FCU
5,395
$20,677,919
$13,452,240
$22,598,077
AZ
Cochise CU
4,075
$20,292,766
$15,795,006
$23,703,537
AZ
Porter FCU
2,923
$20,272,004
$8,911,959
$23,982,096
CO
Pueblo Government Agencies FCU
3,693
$21,127,077
$10,015,633
$25,143,033
CO
BCS Community CU
2,950
$21,187,750
$17,320,205
$25,408,208
CO
Southeastern Arizona FCU
5,553
$21,765,568
$12,792,367
$25,551,274
AZ
Pueblo Horizons FCU
3,858
$22,348,745
$11,027,186
$26,799,919
CO
Yuma County FCU
2,499
$23,773,015
$11,772,074
$27,316,103
CO
First Cheyenne FCU
4,497
$26,763,140
$19,726,818
$29,263,255
WY
Tucson Telco FCU
3,713
$25,113,139
$15,842,983
$29,469,509
AZ
Westminster FCU
3,903
$27,679,752
$18,746,554
$30,675,293
CO
Holyoke Community FCU
2,921
$28,420,098
$25,668,497
$30,842,603
CO
Sheridan Community FCU
4,169
$27,666,299
$25,742,656
$31,070,676
WY
River-Rail Community FCU
5,092
$29,076,235
$22,303,403
$32,080,211
WY
Laramie Plains Community FCU
5,280
$29,557,563
$24,691,056
$32,917,011
WY
Southwest Colorado FCU
3,721
$30,645,610
$12,461,401
$35,228,461
CO
Community Choice CU
4,916
$32,207,573
$18,322,637
$36,204,542
CO
Peoples CU
2,603
$33,456,439
$26,458,431
$38,705,455
CO
College Credit Union of Greeley
3,817
$36,455,586
$25,349,146
$42,095,901
CO
Columbine FCU
3,435
$40,690,913
$21,769,932
$45,140,530
CO
First Education FCU
5,727
$41,787,386
$17,203,060
$45,685,894
WY
Metrum Community CU
4,815
$42,963,825
$27,966,657
$49,226,917
CO
Coconino FCU
8,103
$44,152,703
$22,126,616
$49,331,486
AZ
White Crown FCU
6,631
$47,511,031
$23,672,834
$53,165,971
CO
Weld Schools CU
6,692
$49,048,665
$27,180,500
$54,011,874
CO
13
Credit Union Statistics by Assets (cont.)
Credit Union
Members
Shares
Loans
Assets
State
Boulder Municipal Empl. FCU
6,896
$51,542,193
$32,358,542
$56,270,983
CO
Foothills CU
6,615
$50,710,464
$38,995,371
$56,310,654
CO
Banner FCU
10,593
$50,478,390
$21,718,345
$56,939,947
AZ
Campco FCU
10,740
$58,913,193
$38,320,606
$64,788,968
WY
Pikes Peak CU
8,754
$60,490,228
$45,784,443
$66,414,967
CO
Horizons North CU
8,034
$64,283,449
$42,723,316
$70,195,969
CO
Northwest United FCU
5,654
$63,876,619
$30,206,424
$70,591,609
CO
11,395
$69,500,030
$37,910,751
$79,136,496
CO
Credit Union of the Rockies
9,847
$72,292,062
$55,299,909
$80,031,206
CO
Pyramid FCU
8,771
$71,277,543
$48,964,887
$81,665,573
AZ
Power CU
First American CU
19,381
$73,507,961
$43,272,400
$84,317,488
AZ
9,632
$77,228,633
$55,036,758
$85,947,571
CO
Reliant FCU
10,624
$80,764,536
$56,694,245
$89,058,681
WY
Sunlight FCU
11,165
$79,239,480
$32,449,723
$89,633,546
WY
7,373
$83,962,551
$55,932,856
$93,320,801
CO
Pinal County FCU
17,898
$87,765,904
$61,957,435
$95,112,358
AZ
Atlantic City FCU
10,477
$84,921,663
$58,029,905
$96,012,611
WY
Arapahoe CU
Aurora Schools FCU
Sunwest Educational CU
10,761
$89,073,939
$56,593,336
$98,093,432
CO
Space Age FCU
15,338
$91,687,671
$72,519,797
$100,297,368
CO
8,573
$92,167,641
$64,136,579
$101,766,329
CO
14,676
$93,106,939
$60,009,593
$103,564,531
CO
Colorado CU
Western Rockies FCU
14
Sterling FCU
8,736
$90,360,449
$33,344,807
$105,641,352
CO
Denver Fire Department FCU
5,751
$106,781,888
$20,080,751
$122,395,745
CO
Community Financial CU
11,712
$108,215,988
$81,885,509
$126,067,891
CO
Canyon State CU
18,218
$114,305,774
$70,022,142
$128,925,082
AZ
Tempe Schools CU
18,516
$119,545,435
$79,371,877
$129,537,137
AZ
Tucson Old Pueblo CU
13,020
$120,797,593
$76,744,012
$133,525,011
AZ
Aventa CU
18,102
$122,171,239
$108,003,240
$134,987,536
CO
Coors CU
14,121
$123,505,971
$103,348,107
$138,666,216
CO
Trona Valley Community FCU
17,989
$126,347,337
$107,322,504
$139,378,792
WY
American Southwest CU
20,252
$142,130,663
$88,306,745
$156,587,880
AZ
Fitzsimons FCU
13,801
$137,768,450
$82,988,444
$157,669,388
CO
Minnequa Works CU
21,938
$143,490,788
$87,375,794
$159,283,174
CO
Altier CU
17,460
$150,711,643
$98,729,044
$163,564,993
AZ
WYHY FCU
12,639
$152,550,225
$121,856,107
$170,168,349
WY
Deer Valley CU
16,606
$189,291,794
$78,424,397
$205,590,526
AZ
Uniwyo FCU
16,101
$195,458,576
$109,983,146
$220,433,386
WY
Partner Colorado CU
23,767
$189,998,832
$120,105,542
$221,608,893
CO
Credit Union
Denver Community FCU
Members
Shares
Loans
Assets
State
29,766
$191,054,758
$133,977,078
$222,903,721
CO
AEA FCU
41,950
$218,272,816
$186,493,594
$230,576,672
AZ
Boulder Valley CU
19,020
$216,040,804
$89,689,908
$241,662,121
CO
Sooper CU
32,014
$209,815,353
$136,425,199
$246,286,685
CO
Meridian Trust FCU
19,941
$219,577,547
$138,308,471
$247,700,819
WY
Sun West FCU
34,047
$209,168,833
$147,272,893
$247,865,547
AZ
Tucson FCU
45,786
$289,181,941
$177,041,467
$318,045,984
AZ
Pima FCU
51,282
$314,481,470
$137,629,807
$357,490,511
AZ
Arizona Central CU
54,426
$360,370,402
$197,308,643
$395,543,330
AZ
First CU
43,819
$369,017,053
$179,628,185
$397,442,813
AZ
Warren FCU
39,625
$360,377,780
$307,278,245
$399,969,389
WY
Premier Members FCU
35,812
$355,450,226
$259,320,541
$402,015,201
CO
Credit Union West
48,087
$408,892,500
$304,565,317
$450,068,935
AZ
Credit Union of Denver
50,287
$478,203,720
$259,989,517
$536,229,237
CO
Hughes FCU
62,811
$500,081,250
$414,413,728
$559,293,830
AZ
TruWest CU
56,664
$679,725,653
$429,643,274
$768,817,535
AZ
90,783
$857,747,626
$534,703,524
$988,602,815
CO
Public Service CU
Credit Union of Colorado
130,765
$990,520,510
$575,493,616
$1,114,813,012
CO
Vantage West CU
111,662
$968,155,246
$864,272,730
$1,115,685,909
AZ
95,167
$1,011,055,637
$680,317,511
$1,146,506,212
CO
Elevations CU
Westerra CU
81,438
$978,076,779
$715,089,509
$1,192,007,930
CO
Arizona FCU
171,825
$1,141,753,915
$545,891,123
$1,269,690,482
AZ
Arizona State CU
124,216
$1,172,130,287
$845,217,776
$1,295,190,455
AZ
Bellco CU
198,302
$1,795,185,991
$1,539,693,730
$2,069,711,483
CO
Desert Schools FCU
326,401
$2,556,999,177
$1,449,110,846
$2,903,317,097
AZ
Ent FCU
209,927
$2,789,493,747
$1,887,412,473
$3,417,894,318
CO
Totals
2,893,511 $24,666,277,277 $16,326,768,751 $28,169,505,063
15
Chapters
Arizona
•Pikes Peak Chapter
Wyoming
•North Central Chapter
•Cheyenne Chapter
• Total Credit Unions: 6
• Members: 19,544
• Shares: 93,635,057
• Loans: 53,036,417
• Assets: 104,846,122
•Southern Arizona Chapter
• Total Credit Unions:15
• Members: 334,787
• Shares: 2,503,909,886
• Loans: 1,873,085,938
• Assets: 2,283,844,562
•Valley of the Sun Chapter
• Total Credit Unions: 24
• Members: 998,860
• Shares: 7,760,324,826
• Loans: 4,597,368,256
• Assets: 8,678,413,137
•Yuma Chapter
• Total Credit Unions:1
• Members 41,950
• Shares: 218,272,816
• Loans: 186,493,594
• Assets: 230,576,672
Colorado
•Denver Area Chapter
• Total Credit Unions: 38
• Members: 786,188
• Shares: 6,960,341,970
• Loans: 4,816,341,970
• Assets: 8,018,963,385
•High Plains Chapter
16
• Total Credit Unions:5
• Members: 13,172
• Shares: 127,025,536
• Loans: 63,623,528
• Assets: 146,072,494
• Total Credit Unions: 4
• Members: 238,877
• Shares: 2,988,385,534
• Loans: 2,049,206,490
• Assets: 3,637,854,473
•Pueblo Chapter
• Total Credit Unions: 5
• Members: 51,645
• Shares: 345,540,579
• Loans: 202,922,700
• Assets: 388,456,054
•Rocky Mountain Chapter
• Total Credit Unions: 8
• Members: 180,940
• Shares: 1,839,890,023
• Loans: 1,201,708,048
• Assets: 2,081,544,200
•San Luis Valley Chapter
• Total Credit Unions: 3
• Members: 6,524
• Shares: 32,434,837
• Loans: 27,910,583
• Assets: 41,117,566
•Western Colorado Chapter
• Total Credit Unions: 4
• Members: 19,946
• Shares: 131,778,604
• Loans: 77,306,231
• Assets: 147,392,760
•Wild Goose Chapter
• Total Credit Unions: 5
• Members: 10,565
• Shares: 62,364,647
• Loans: 46,740,811
• Assets: 71,108,276
• Total Credit Unions: 6
• Members: 85,127
• Shares: 819,634,857
• Loans: 612,054,849
• Assets: 913,788,228
•Cloud’s Peak Chapter
• Total Credit Unions: 2
• Members: 14,909
• Shares: 86,579,492
• Loans: 4,063,262
• Assets: 95,859,644
•Fremont County Chapter
• Total Credit Unions: 1
• Members: 10,477
• Shares: 84,921,663
• Loans: 58,029,905
• Assets: 96,012,611
•Hart Mountain Chapter
• Total Credit Unions: 3
• Members: 12,564
• Shares: 85,572,991
• Loans: 5,911,139
• Assets: 96,472,158
•Pioneer Chapter
• Total Credit Unions: 3
• Members: 16,740
• Shares: 15,526,121
• Loans: 84,177,276
• Assets: 127,637,758
•Snowy Range Chapter
• Total Credit Unions: 2
• Members: 21,381
• Shares: 225,016,139
• Loans: 134,674,202
• Assets: 253,350,397
Southwestern Chapter
• Total Credit Unions: 4
• Members: 25,550
• Shares: 165,913,508
• Loans: 130,216,713
• Assets: 184,241,190
Association Staff
Administration
Credit Union Relations
Pat Bodnar, Executive VP
Scott Earl, President/CEO
Crystal Maldonado, Administrative Specialist
Lora Martinez, Director of Corporate Affairs
Ruben Martinez, Facilities Manager
Jaquetta Ward, Association Support Manager
Mike Atchison, SVP Credit Union Relations
Mary Lee Blommel, CU Relations Representative
Rick Cranston, Director of Business and Product
Development
Lisa Drewry, Consultant of Business Services
Dixie Hill, VP Credit Union Advantage
Larry Jones, Credit Union Advantage Representative
Rob Montoya, Credit Union Advantage
Representative
Billy Russell, Credit Union Advantage Representative
Accounting
Angelina Atayde, Accountant II
Amy Falconetti, Accounting Manager
Shaun Ongstad, VP/Controller
Association Services
Joy Audet, Director of Corporate Communications
Nicole Brusewitz, VP of Education/Events
Dan Finerty, Director of Marketing
Donna Gibbs, Administrative Assistant
Shay Jacobs, Education/Training Coordinator
Dan Santangelo, SVP of Association Services
Rob Stahl, Manager of Information Technology
Diana Stoick, Director of Events Management
Government Relations
Austin De Bey, VP Legislative Affairs
Tim Dore, SVP Government Relations
Chris Kemm, VP Political Affairs
Deb Larrabee, Political Administrator
Regulatory Affairs
Melia Heimbuck, Director of Compliance
Mark Robey, SVP Regulatory Affairs
Nicole Soto, General Counsel