Download - ANNUAL REPORT - Home - MWCUA · 2018-10-03 · In 2015, this line of thinking became the undercurrent to fuel our activities. It became the measuring stick by which we prioritize

ANNU

AL RE

PORT

“NOT FOR PROFIT,NOT FOR CHARITY,BUT FOR SERVICE.”

— Friedrich Wilhelm Raiffeisen

As we look back on the past year, one thing is prevalent: Now, more than ever, we must remain vigilant in our pursuit of forwarding the credit union movement. From all sides, attacks come. Whether it’s

increasing regulations, data breaches, or threats to our tax status; the very things that make us unique are the things that are targeted.

The founding principle of cooperation among cooperatives is one of the strongest assets the movement has. When we present a united front, we are powerful and persuasive. As we look to the future, our ability to collaborate with other credit unions, and as the Association, will be the driving factor in our success.

In our region, our highly effective approaches to Hill visits and regulatory strategy have proven this to be true. Our combined forces are a show of strength to our Congressional delegation, as well as to state and local governments. We have successfully led or influenced a number of legislative initiatives which have been beneficial to the movement.

We will continue to face challenges head on and with a common voice. From the ongoing threat of data breaches, to increased regulatory burdens and even changes within our movement, we will press on and strive to grow. We focus on our desire to serve and explore untapped markets.

We should pause and celebrate our victories in order to fuel our drive for the future. Our Regulatory Hike-the-Hill effort has gained momentum and this past year, we built upon the success of the initial hike in 2014. Credit union CEOs and senior staff, and Association staff met with senior officials from the National Credit Union Administration (NCUA) and the Consumer Financial Protection Bureau (CFPB) to express our thoughts and concerns over regulatory burden and field of membership.

On the legislative front, credit unions tallied victories in Congress. Most prominent, was the transportation bill, which was passed and signed into law and contained three notable provisions for credit unions: Privacy Notice Modernization, CFPB Rural Designation Improvements, and Federal Home Loan Bank (FHLB) Eligibility for Privately Insured Credit Unions. In addition, the federal government spending bill that passed in December contained additional positive provisions for credit unions including a study of requirements involving mortgage servicing, assets, and cybersecurity information-sharing among the government and private industry. Looking forward, we head into the busy election cycle poised and ready to make an impact that benefits our credit unions.

Once again, we saw Association member credit unions utilize the education and training opportunities offered. There were more than 2,000 registrations for training and events in our region last year, and 89% of our membership participated in one or more training programs. The Board of Directors remains committed to supporting Association members and providing the best resources possible. Together, we are better and together, our future remains bright.

FROM THE CHAIRMAN

JOHN UCHIDAChair

2 0 1 5 A N N U A L R E P O R T 1

I n 2014 we put a name on our number one priority at the Association: Credit Unions First. In 2015, this line of thinking became the undercurrent to fuel our activities. It became the measuring stick by which we prioritize our

actions. We can look at 2015 and see how we have been able to not only face challenges, but bring forth some positive outcomes as a result of this focus.

In 2015, we have seen tremendous examples of collaboration and cooperation. We have been able to partner credit unions together in new ways to have verifiable positive impacts in areas like legislative action and public affairs. It is that spirit that encourages us to work even harder.

The Association is heavily focused on providing the best value for our member credit unions. For you, our valued member, this guarantees an assurance that our strategic priorities align with yours. Advocacy, regulatory relief, member services, and education and training remain at the forefront of our offerings.

In a climate of noise and clutter, advocacy and political action remain our top priorities. Our united voice - largely driven by our passionate credit union leaders - helps narrow the focus for our legislative delegation and allows them to realize the impact that credit unions have for the member, the community and the country.

Our regulatory team continues to seek out ways to better serve and ease the burden on our credit unions. This, coupled with our legislative actions, is benefitting our credit unions. We were able to see some relief with the passage of legislation at the end of 2015, and we are confident this trend will continue through the collective efforts of our movement.

Each year, the Association provides a stellar lineup of education offerings. These opportunities, coupled with our innovative leadership programs, provide our members with incredible training resources at minimal cost. And you are taking advantage! More than 89% of our membership participated in one or more of our programs last year. That is a powerful statement.

The Association will always strive to provide services and support that we know are important to our membership. There will always be challenges, but with the support of our Board, we continue to look at ways to refine and improve our offerings in order to best serve our membership.

Our highly engaged Board is the reason we are so successful. I sincerely thank our Board members for all their hard work and their continued involvement in our movement as a whole. I want to thank our Chairman, John Uchida, for all his hard work and dedication, not only to the Association and his credit union, but to all of us in the movement.

FROM THE PRESIDENT

SCOTT EARLPresident

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 N2

ASSOCIATION BOARD OF DIRECTORS

2 0 1 5 A N N U A L R E P O R T 3

JOHN UCHIDASpace Age FCUChair

JAY CURTISFirst CU(effective January 2016)

SANDY NEVES Fitzsimons FCU Secretary

SUSAN FRANKDesert Schools FCU

ROBERT D. RAMIREZVantage West CUImmediate Past Chair

JIM YATESFirst Education FCUVice Chair

COLLEEN CURTISSouthwest Healthcare CUTreasurer

DAN DESMONDTruWest CU(retired 12/2015)

STEVE HIGGINSONReliant FCU

DAN KESTERSooper CU

DOUG FERRAROBellco CU

WALT MARXNorthern Colorado CU(retired 12/2015)

KERRY SPRADLINGWhite Crown FCU(effective January 2016)

ASSOCIATION MANAGEMENT REPORTGovernment Affairs Highlights

The government affairs team continued to stay busy in 2015. Notably, our combined efforts:

• Defeated interchange legislation in Colorado • Hosted the first ever joint financial roundtable with the Arizona Bankers’ Association • Saw a public funds bill make progress in Wyoming

On the legislative front, credit unions saw victories at the end of 2015 in the transportation and federal government spending bills.

Public affairs continues to carve out new ways to help our member credit unions share their stories and promote the movement.

GAC - The 2015 Government Affairs Conference (GAC) in Washington, D.C. was a tremendous event with a focus on federal legislation and activities within Congress. The government affairs team combines this annual conference with Hike-the-Hill visits to provide a strategic element to the conference. In 2015, we coordinated and led hill visits to all of our federal delegations, focusing on data breach issues, regulatory burden and member business lending.

Colorado - The Association, with a grassroots effort and CEO engagement, was able to defeat interchange legislation that would have potentially cost credit unions in Colorado significantly. Arizona - The Association joined with the Arizona Bankers Association to host a financial institution roundtable, gathering elected officials to discuss issues common to both organizations. In a demonstration of cooperation, the two organizations jointly hosted Representatives David Schweikert (Congressional District 6) and Ruben Gallego (Congressional District 7). The representatives were given an industry update and participated in a more detailed discussion of the issues most relevant to financial institutions.

Wyoming - The State House and State Senate committee passed legislation addressing a positive position for credit unions with regards to public funds. Unfortunately the 2015 Wyoming session ran out of time before the legislation could be heard by the full State Senate. However, the progress made was substantial and will be beneficial for actions in years to come.

Legislative Victories – As 2015 drew to a close, credit unions tallied legislative victories in Congress. Most prominent was the transportation bill, which was passed and signed into law and contained three notable provisions for credit unions: Privacy Notice Modernization, CFPB Rural Designation Improvements, and FHLB Eligibility for Privately Insured Credit Unions. In addition, the federal government spending bill, which passed in December, contained positive provisions for credit unions including a study of requirements involving mortgage servicing, assets, and cybersecurity information-sharing among the government and private industry.


Political - The focus is now on the 2016 election, with the Presidency on the ballot and numerous statewide races. In Arizona, Representative Ann Kirkpatrick has announced that she is challenging Senator John McCain, opening a House seat. Colorado will have its own Senate race with Michael Bennett running for re-election. Our efforts will be focused on identifying and working with potential candidates, in addition to raising monies for our PAC and related efforts.

We continue to see significant growth across our social media platforms. Our grassroots teams had another record year and our advocacy teams grew by 747. The Mountain West Credit Union Association now has 35,427 total grassroots advocates across all three states. Our social media following on Facebook has increased to 2,044 followers on six channels. Our Twitter platform had the largest increase, with 1,953 new followers in 2015. Public Affairs - Public affairs continues to provide Association member credit unions with strategic counsel, public relations support, training and media relations activities. In 2015, a collaborative effort of Mountain West Credit Union Association public affairs and Landings Credit Union was named Best Public Relations Project in CUNA’s Blockbuster awards competition. Public Affairs has also led media relations efforts for cooperative projects, including International Credit Union Day in Wyoming, the World Council of Credit Unions/America’s Credit Union Conference (held in Denver 2015), and multiple announcements from member credit unions, the Association and the Mountain West Credit Union Foundation.

Hike the Hill tops Regulatory Affairs Highlights

Building on the success of the inaugural Regulatory Affairs Hike-the-Hill from 2014, the Association held its second annual Regulatory Hike-the-Hill to Washington, D.C. in September 2015. Credit union CEOs and senior staff, and Association staff met with senior officials from the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration (NCUA). We urged the NCUA to continue to strengthen advocacy efforts with other agencies, particularly the CFPB, to help reduce the regulatory burden on credit unions. Other discussion topics included field of membership, member business lending and examination improvements. Discussions with the CFPB focused primarily on overdraft protection by asking them to allow flexibility to serve the unique needs of our memberships. We also provided the agencies with real world examples of how over-regulation has resulted in direct harm to consumers, including higher costs and reduced services. Hike participants also attended the NCUA open board meeting.

Joe Neguse, Executive Director of the Colorado Department of Regulatory Agencies, announced a Division of Financial Services Stakeholder Group. Eleven state-chartered credit union professionals were named to the group along with Mark Robey, SVP of Regulatory Affairs for the Association. The group has discussed topics including public funds, marijuana businesses, funding employee benefit plans with split-dollar insurance policies, and interstate branching.

ASSOCIATION MANAGEMENT REPORT

2 0 1 5 A N N U A L R E P O R T 5

In November, Patty Salazar was named the Commissioner of Financial Services in Colorado. The Association hosted a meet and greet to give CEOs the opportunity to meet Ms. Salazar and hear her regulatory philosophy. The team also met separately with Commissioner Salazar and Deputy Commissioner Mark Valente to discuss the Association’s legislative and regulatory agendas for 2016. The team will continue to work on developing and growing these relationships to better position the interests of our credit unions.

The Association team met with Lauren Kingry, former Superintendent, and Tamilee Smull, Financial Institutions Manager of the Arizona Department of Financial Institutions to discuss the Association’s legislative and regulatory agendas for 2016. Similar to the reaction in Colorado, Mr. Kingry and Ms. Smull did not voice opposition, but reserved judgment until draft language could be reviewed. We also continued discussions regarding the Department’s responsiveness to credit unions. Ms. Smull stated she felt significant improvements had been made towards credit unions receiving timely responses to their requests. Mark Robey surveyed all but two Arizona state-chartered credit unions, and the responses generally confirmed Ms. Smull’s assertions. We continue to monitor the Superintendent vacancy left by Mr. Kingry’s departure.

NCUA board member Mark McWatters attended the Arizona CEO Roundtable in December.

The Regulatory Affairs team continues its development of a small credit union compliance initiative, gathering input from small credit unions with assets of less than $100 million. Plans to strategize on how the Association can better meet the compliance needs of small credit unions, as well as finalizing the initiative are in place for 2016.

Education and training continue to help advance members’ development

Training is the cornerstone of a strong and effective credit union and we are committed to assisting 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. In addition, small-asset size pricing on all schools and conferences and package pricing options for our advanced ACH specialist, BSA compliance, director, HR, IRA, new account and required compliance webinar series help keep costs manageable.

Together, we navigated the complicated and challenging world of compliance and regulation and with that added a Lending Compliance School and Mortgage Loan Originator (MLO) trainings. We expanded educational access through distance learning and video conferencing programs. We saw more than 2,000 registrations for 200+ webinars, network councils, schools and conferences. In-person trainings took place by live and virtual classroom in 10 cities throughout our states. In 2015, our program rating remained high with an average 4.6 rating on a 1-5 scale (with 5 being the highest score).

ASSOCIATION MANAGEMENT REPORT

of member credit unions participated in one or more programs in 2015.

89%


ASSOCIATION MANAGEMENT REPORTNow more than ever, Mountain West is committed to developing future credit union leaders. In its fifth year, our Credit Union Leadership Institute graduated 30 new leaders in the rigorous nine month program. The prestigious Foundation Executive Leadership Program currently has 12 future leaders from all three states immersed in a five-year leadership development process.

Networking Councils were offered in 2015 as a way for credit union staff members to share best practices and network with each other. These councils operate in five functional areas: Compliance, HR/Trainers, Lending, Marketing, and the new Community Development council.

The numbers showcase the success:

• More than 340 attendees participated in the 2015 Annual Meeting & Convention in Phoenix, AZ• 89% of member credit unions participated in the Association’s training programs• The five networking councils garnered 238 credit union attendees• With six locations in our three states, member credit unions have greater access to one

another and to training opportunities. Our video conference technology allowed us to hold a multi-city conference for the first time, where the 2015 Marketing Summit was broadcast from both Denver and Tucson with speakers and a live audience in both cities.

Additionally, Denver was the backdrop for the 2015 America’s Credit Union Conference and World Council’s World Credit Union Conference which meant that more Mountain West members than ever participated in the annual international event.

2 0 1 5 A N N U A L R E P O R T 7

The Association’s member credit unions made significant achievements in 2015 in

community outreach.

Each year, participating member credit unions are making a difference in their communities by supporting Credit Unions for Kids® (CU4Kids), which benefits Children’s Miracle Network Hospitals®. Member credit unions participated in activities like the Miracle Challenge, CU4Kids chocolate bar sales, Miracle Balloon Paper Icon Sales, Miracle Jeans Day and numerous other individual credit union-sponsored and organized fundraisers.

In 2015, contributions to Children’s Miracle Network Hospitals through Credit Unions for Kids in Arizona, Colorado, and Wyoming totaled $804,477.

Market 2013 TOTAL 2014 TOTAL 2015 TOTAL

Arizona $559,651 $674,734 $701,403

Colorado $44,112 $73,254 $94,712

Wyoming n/a n/a $9,362

Total $615,135 $747,988 $804,477

In 2015, we recognized several member credit unions’ achievements: three statewide first place awards, one statewide second place award, and one statewide honorable mention were presented. Also, during the 2016 GAC, one member credit union received a national honorable mention from CUNA to recognize its work in adult financial education.

According to reports from the National Youth Involvement Board (NYIB), member credit unions in Arizona reported providing 240 financial literacy presentations to 7,066 students, and member credit unions in Colorado reported providing 443 presentations, reaching 28,209 students during the 2014–2015 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.


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 2015

• The Arizona-based indirect lending program continues to deliver outstanding results for the participating credit unions. At the end of 2015 the program had funded 52,351 Indirect Loans in AZ for over $1.3 billion. Arizona is a hot market for indirect lending so with all the aggressive competition coming into the arena, we are very pleased that our volume grew by $135 million over 2014. Plans are in place to expand our market and product offerings to assist our credit unions in recapturing their members and gain new members through the indirect loan channel. We are currently exploring and working on the implementation of a program in the NE Colorado region.

• Love My Credit Union Rewards - The Sprint program is still going strong, with 1,905 CUs currently supporting it, 1.8 million activations, and $652 million saved by members. TurboTax is also a strong performer, with 1,508 credit unions participating and over $11 million in member savings.

• Universal Identity - Credit Union Strategic Partners has initiated a relationship with Evernym, based in Utah. The initiative is to create a credit union industry universal identity solution using blockchain technology to eliminate ID theft and fraud. This initiative will be presented to key credit union organizations to gauge viability and potential investment.

• AffirmX - The Compliance management program, which has become a valuable asset for many credit unions throughout the three state region, continues to be an integral part of their compliance solution. All compliance platform users stayed with the program in 2015. Overall there are 34 compliance platform users and two Enterprise Risk Assessment users.

STRATEGIC PARTNERS MANAGEMENT REPORT

2 0 1 5 A N N U A L R E P O R T 9

Serv

ices

Des

crip

tion

Com

plia

nce

Partner Mem

ber G

row

th &

Ret

ention

Ope

ration

s

Tech

nolo

gy &

Inno

vation

Incr

easi

ng

Loan

s

Service availability by state: Arizona Colorado WyomingA C W

Indirect Lending Program

A 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


Alliance partners providing security, growth & retention, operations, technology and lending solutions

A C W A C W A C W A C W

Online Vendor Management and Due Diligence Platform

A C W A C W

On-Site Consumer Compliance Services

A C W A C W

Debit/Credit Processing and Rewards

A A

Shared Branching A A

Share Draft Printing; Marketing and Integrated Client Solutions



Serv

ices

Des

crip

tion

Com

plia

nce

Partner Mem

ber G

row

th

& Ret

ention

Ope

ration

s

Tech

nolo

gy &

Inno

vation

Incr

easi

ng

Loan

s

Service availability by state: Arizona Colorado WyomingA C W

Debit/Credit/Prepaid Card Processing

A C W A C W A C W

Member Discounts A C W A C W

Vehicle Valuations C W

Online Consumer Compliance Services

A C W A C W A C W

Office Products; Print and Document Services

A

Online and Print Statement Solutions

A C W A C W

Member/Business Discount Programs; Credit Union Rebates

A C

Direct to consumer lending and refinancing options for members

A C W A C W

Fully managed ID Theft Recovery Service

A C W A C W

2 0 1 5 A N N U A L R E P O R T 11

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).

The firm of Jones Mertsching CPAs, PC was contracted to perform the annual audit. An unmodified opinion was rendered for the year ended December 31, 2015 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 $18,797,241 and net assets (capital) of $17,194,475. Net assets as of December 31, 2014 were $17,385,561. The activities that result in this decrease to net assets of $191,086 are operating revenues of $6.37 million, net assets released from restrictions of $29,302, operating expenses of $6.16 million, other decreases in unrestricted net assets of $213,561, decreases in temporarily restricted net assets of $27,615, and other comprehensive loss of $190,491.

From the for-profit perspective of Strategic Partners, 2015 shows an after tax net gain of $53,119 versus the after tax net gain in 2014 of $26,921. Contributing to this year-over year variance is $253,623 less in Revenue, $293,026 less in Operational Expense and $13,205 more in Income Tax Expense in 2015. Strategic Partners ended 2015 with total assets of $13,310,162 and Total Stockholder’s Equity of $11,971,962, versus Total Stockholder’s Equity as of December 31, 2014 of $12,109,334. The activities that resulted in this decrease to Net Assets of $137,372 are Operating Revenues of $3.05 million, Operating Expenses of $2.98 million and decrease in accumulated other comprehensive income of $181,927.

The combined balance sheet shows a healthy and liquid condition with 60% 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,Colleen Curtis, Treasurer

FINANCIALS

COLLEEN CURTIS Treasurer


FINANCIALSConsolidated Financial StatementsMountain West Credit Union Association and Subsidiary Consolidated Statements of Financial PositionDecember 31, 2015 and 2014.

2015 2014

AssetsCurrent assets:

Cash & cash equivalents $432,757 $261,530Cash & cash equivalents - restricted 264,680 231,179Accounts receivable 1,115,099 1,094,241Other current assets 547,048 722,624

Total current assets $2,359,584 $2,309,574

Investments:Marketable investment securities 7,366,733 7,188,571 Marketable investment securities,

deferred compensation plans 2,708,716 2,660,379

Certificates of deposit 0 350,000Credit Union House, LLC 690,800 688,050CU Service Network, LLC 453,235 438,907Members Trust Company, FSB 92,227 92,227 Other 351,978 345,539

Total investments 11,633,689 11,763,673

Property & equipment, at cost: Land 646,283 646,283Building and improvements 3,431,729 3,411,603FF&E and auto 2,177,360 2,193,333

6,255,372 6,251,219 Less accumulated depreciation 2,248,432 2,110,059

Total property & equipment 4,006,940 4,141,160

Other assets:Deferred tax asset 767,885 675,685Accounts receivable, noncurrent 18,833 175,083Other 10,310 10,310

Total other assets 797,028 861,078

Total assets $18,797,241 $19,075,485

2 0 1 5 A N N U A L R E P O R T 13

Liabilities & Net AssetsCurrent liabilities:Accounts payable $331,949 $317,758Property taxes payable 77,000 75,000 Other current liabilities 88,614 331,654

Total current liabilities 497,563 724,412

Other liabilities:Accrued compensated absences 221,571 222,715 Deferred compensation plans 840,030 684,984 Other 43,602 57,813

Total other liabilities 1,105,203 965,512

Total liabilities 1,602,766 1,689,924

Net Assets:Board Designated 150,000 150,000Unrestricted 16,807,824 16,780,804 Temporarily restricted 114,673 142,288 Accumulated other comprehensive income,

Subsidiary 121,978 312,469

Total net assets 17,194,475 17,385,561

Total liabilities & net assets $18,797,241 $19,075,485

FINANCIALS 2015 2014

Mountain West Credit Union Association and Subsidiary Consolidated Statement of ActivitiesDecember 31, 2015 and 2014. 2015 2014

Operating revenue:Membership dues $2,399,705 $2,273,574Conferences/education 809,730 844,321Core products 2,402,244 2,494,766Product alliances 99,760 109,973Rental income 123,610 111,668Investment income 535,460 711,307Other income 1,290 28,771

Total operating revenue 6,371,799 6,574,380

Net assets released from restriction:Satisfaction of program restrictions 29,302 80,243

Total unrestricted revenue 6,401,101 6,654,623


2015 2014

FINANCIALSOperating expenses:

Salaries and benefits 3,651,423 3,612,133Conferences/education 588,590 693,666Cost of core products sold 92,423 242,500Government relations 246,983 199,289Advanced Strategies 29,302 79,930Office operations 934,787 981,380Building, rent, depreciation 617,012 669,703

Total operating expenses 6,160,520 6,478,601

Excess of operating revenue over expenses 240,581 176,022

Other programs and changes in net assets:Realized and unrealized investment gains (191,414) 92,904Income taxes (22,147) (8,942)

Total other increases (decreases) in net assets (213,561) 83,962

Increase in unrestricted net assets 27,020 259,984

Increase/(decrease) in temporarily restricted net assets:Contributions and earning to Advanced

Strategies Fund 1,687 145,852

Net assets released from restrictions (29,302) (80,243)

Increase in temporarily restricted net assets (27,615) 65,609

Increase/(decrease) in net assets (595) 325,593

Net assets, beginning of year 17,385,561 17,189,231

Other comprehensive income (190,491) (129,263)

Net assets, end of year $17,194,475 $17,385,561

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.

2 0 1 5 A N N U A L R E P O R T 15

CREDIT UNION YEAR- END STATISTICS Affiliated credit unions (as of 12/31/15) Members Shares Loans Assets Net Worth

Air Academy F.C.U. 46,915 467,956,836 441,610,783 515,209,500 42,964,218A.E.A. F.C.U. 34,128 234,105,217 202,981,398 255,897,593 18,531,950A.P.C. E.F.C.U. 201 983,711 821,751 1,243,858 260,014Akron F.C.U. 319 699,189 603,174 765,534 65,539Alhambra C.U. 4,317 19,127,004 14,357,267 21,555,815 2,122,014Altier C.U. 18,266 166,618,042 128,277,157 182,888,116 14,526,196American Southwest CU 22,792 182,318,486 112,388,824 200,663,395 17,897,342Arapahoe C.U. 9,788 107,701,592 84,657,178 118,482,941 10,249,692Arizona Central C.U. 58,947 396,689,522 331,082,787 438,935,961 37,689,245Arizona F.C.U. 122,670 1,174,071,269 578,880,285 1,396,614,851 197,372,399Arizona State C.U. 136,647 1,490,415,264 1,096,210,553 1,788,426,515 183,581,859Ashoka C.U. 348 2,131,390 1,716,152 2,308,476 170,444Atlantic City F.C.U. 10,231 102,974,105 71,135,960 115,295,047 12,988,362Aurora F.C.U. 7,400 69,909,280 43,062,912 84,588,760 13,625,457Aurora Schools F.C.U. 7,012 88,932,629 56,597,669 99,729,258 10,481,498Aventa C.U. 21,978 141,004,584 129,509,594 163,465,974 17,513,198B.C.S. Community C.U. 3,123 20,941,858 14,314,684 25,377,751 4,381,479Banner F.C.U. 9,106 50,230,654 25,384,947 56,754,517 6,079,611Bashas Associates F.C.U. 5,024 14,561,129 5,858,964 16,153,741 1,529,147Bellco C.U. 260,002 2,548,869,960 2,576,209,914 3,109,283,079 351,033,051Campco F.C.U. 11,890 88,290,613 69,076,448 98,185,624 9,064,850Canyon State CU 15,925 141,009,210 110,025,262 176,355,993 17,298,252Cheyenne-Laramie County Empl. F.C.U.

2,347 19,057,981 6,785,550 21,555,024 2,405,354

Cochise C.U. 4,212 25,366,985 19,256,427 29,837,655 4,388,287Coconino F.C.U. 8,397 59,197,738 34,883,877 65,403,318 5,801,197Colorado C.U. 12,716 126,904,346 96,528,512 141,917,067 13,571,534Columbine F.C.U. 5,199 50,573,532 35,909,918 55,516,971 5,013,843Community Choice C.U. 6,676 47,444,106 27,268,078 56,208,111 8,097,252Community Financial C.U. 16,790 207,064,196 178,736,287 236,785,580 27,045,830Coors C.U. 19,749 184,609,694 177,115,352 219,743,466 24,337,760Credit Union of Denver 56,876 564,673,046 384,057,687 642,396,044 73,486,606Credit Union of the Rockies 9,375 83,061,368 52,863,051 92,765,706 9,369,296Deer Valley C.U. 15,615 189,991,984 127,191,434 210,473,126 18,636,112Denver Community F.C.U. 24,145 240,146,336 152,918,482 281,981,286 39,683,832Denver Fire Department F.C.U. 5,712 129,082,355 55,208,531 145,097,835 15,672,074Desert Medical F.C.U. 2,107 9,289,757 5,949,333 10,350,046 917,454


CREDIT UNION YEAR- END STATISTICS Affiliated credit unions (as of 12/31/15) Members Shares Loans Assets Net Worth

Desert Schools F.C.U. 311,903 3,178,824,009 1,556,358,347 3,837,933,267 417,373,064E.M. F.C.U. 1,566 6,034,963 2,996,526 7,549,990 1,509,017Electrical F.C.U. 4,204 32,790,295 17,809,787 35,772,412 2,902,638Elevations C.U. 114,378 1,439,009,638 1,107,074,856 1,625,576,707 155,068,911ENT F.C.U. 263,857 3,520,384,128 3,175,549,220 4,389,713,766 554,089,935F C I F.C.U. 859 3,755,638 1,800,174 4,901,334 1,135,727Fellowship C.U. 2,415 9,994,270 10,316,067 11,729,533 1,695,845First American C.U. 19,723 101,554,304 66,185,183 111,091,243 8,427,337First C.U. 39,957 389,683,185 279,117,851 427,865,642 37,877,140First Cheyenne F.C.U. 4,376 25,124,577 18,998,476 27,639,067 2,485,545First Education F.C.U. 5,588 47,954,567 18,313,195 52,311,170 3,824,722Fitzsimons F.C.U. 18,419 154,575,647 90,068,795 178,107,286 20,600,429Foothills C.U. 9,311 79,764,057 63,481,715 89,054,861 9,017,188Fort Morgan Schools F.C.U. 579 3,497,807 2,532,308 4,199,059 697,888Green River Basin F.C.U. 2,046 11,030,812 6,053,056 11,854,681 800,861Guadalupe Parish C.U. 2,295 16,542,619 14,392,710 23,577,456 6,991,818Harrison District No 2 F.C.U. 1,651 10,783,229 4,460,912 12,562,408 1,748,943Haxtun Community F.C.U. 592 5,168,881 4,101,537 5,794,891 608,290Holyoke Community F.C.U. 2,902 27,077,520 23,861,977 29,725,986 2,592,511Horizons North C.U. 7,063 66,823,133 49,837,547 73,422,598 6,310,535Hughes F.C.U. 92,207 744,173,267 712,908,740 836,174,488 86,829,058J.A.C.L. C.U. 180 449,661 327,404 586,458 123,079Lamar Civic F.C.U. 1,097 5,157,450 2,552,286 5,581,544 397,763Landings C.U. 14,100 130,192,514 95,719,784 144,238,902 12,501,960Laramie Plains Community F.C.U. 5,849 39,412,820 37,620,305 43,901,462 4,456,145Legal Community CU of Colorado

748 4,424,337 3,897,911 4,817,218 368,843

Meridian Trust F.C.U. 25,278 283,251,644 238,695,587 320,657,630 34,310,536Metrum Community C.U. 4,851 55,893,905 38,468,223 64,336,961 8,016,660Minnequa Works C.U. 16,689 152,363,244 63,088,278 172,250,801 19,915,660Mohave Community F.C.U. 5,303 28,574,734 22,529,003 31,202,294 2,203,116Mountain River C.U. 3,455 21,374,214 12,082,858 23,419,249 2,016,168Northern Colorado C.U. 3,613 41,971,904 31,032,103 48,170,820 6,041,450Northwest United F.C.U. 5,203 75,224,103 43,777,401 85,415,498 7,540,803One Thirteen C.U. 1,465 8,238,200 4,756,293 8,921,640 667,518Otero County Teachers F.C.U. 1,137 3,623,104 1,572,784 4,060,597 432,199Partner Colorado C.U. 31,680 261,618,453 228,221,663 303,314,479 35,826,564

2 0 1 5 A N N U A L R E P O R T 17

Affiliated credit unions (as of 12/31/15) Members Shares Loans Assets Net Worth

Peoples C.U. 2,453 34,689,468 35,769,863 42,056,979 7,242,654Pikes Peak C.U. 9,089 68,928,715 58,506,138 76,596,491 7,483,487Pima F.C.U. 54,882 382,565,832 258,649,105 466,118,967 48,536,189Pinal County F.C.U. 20,780 111,239,026 84,855,779 120,441,569 9,029,010Porter F.C.U. 2,419 19,604,121 4,343,476 23,177,121 3,539,053Powell Schools F.C.U. 370 2,052,601 1,494,569 2,252,974 200,373Power C.U. 11,468 74,476,576 44,484,931 84,952,732 9,851,866Premier Members C.U. 65,461 761,893,876 594,787,087 874,762,687 102,077,650Prescott F.C.U. 1,325 5,688,959 3,991,869 6,743,080 962,056Public Service Employees C.U. 178,105 1,434,891,058 1,232,179,100 1,630,608,122 178,551,672Pueblo Government Agencies F.C.U.

3,655 25,957,887 11,142,434 29,891,434 3,798,320

Pueblo Horizons F.C.U. 3,411 25,443,766 11,431,426 29,311,392 3,600,545Pyramid F.C.U. 15,394 124,017,521 102,535,164 140,705,485 13,357,205Ray F.C.U. 2,671 8,115,368 7,066,923 9,284,473 1,090,541Red Rocks C.U. 17,647 228,424,550 192,182,414 252,574,026 23,801,432Reliant F.C.U. 11,139 106,108,647 71,282,987 116,868,140 10,664,069Rim Country F.C.U 2,103 11,946,848 8,067,054 13,465,476 1,446,462River-Rail Community F.C.U. 5,267 32,857,242 23,950,221 36,068,639 3,104,463Routt Schools F.C.U. 812 4,172,316 1,371,232 4,558,345 378,388San Juan Mountains C.U. 3,298 25,425,796 16,946,075 28,055,499 2,592,621San Tan C.U. 1,445 8,981,993 6,473,130 9,854,265 682,358School District 3 F.C.U. 2,051 19,962,752 9,563,155 22,792,540 2,731,361Shamrock Foods F.C.U. 1,419 4,780,638 4,236,161 5,334,581 469,277Sheridan Community F.C.U. 5,065 36,650,109 35,760,307 41,332,961 4,515,940Shyann F.C.U. 880 7,265,991 3,509,200 8,371,875 1,103,075Sooper C.U. 34,748 279,060,422 203,473,361 317,868,185 36,762,281Southeastern Arizona F.C.U. 5,975 28,147,330 21,152,209 32,213,018 3,800,924Southwest Colorado F.C.U. 3,394 39,315,664 11,293,089 44,816,030 5,095,941Southwest Health Care C.U. 2,051 13,442,798 9,407,859 15,679,511 1,565,317Space Age F.C.U. 14,861 103,484,618 88,050,329 113,353,907 9,456,362Sterling F.C.U. 8,699 111,848,663 38,741,932 130,518,761 19,513,123Sunlight F.C.U. 11,026 92,357,843 37,304,031 106,089,452 14,108,080Sunwest Educational C.U. 10,999 104,517,849 63,963,251 115,756,970 10,461,525

CREDIT UNION YEAR- END STATISTICS


Affiliated credit unions (as of 12/31/15) Members Shares Loans Assets Net Worth

SunWest F.C.U. 45,412 256,381,338 211,658,292 299,835,368 43,846,820Sweetwater F.C.U. 2,358 18,484,170 7,257,325 21,309,726 2,693,144Trona Valley Community F.C.u. 18,712 152,357,451 129,839,014 171,230,184 19,915,153TruWest C.U. 73,706 816,870,046 787,041,504 927,024,607 97,460,884Tucson F.C.U. 51,670 350,305,882 249,415,100 386,629,353 35,766,118Tucson Old Pueblo C.U. 12,303 128,909,129 65,187,505 139,543,795 9,686,142U-Haul F.C.U. 3,916 4,881,356 2,832,506 5,609,791 722,907Uniwyo F.C.U. 24,375 239,219,980 179,182,758 271,815,059 29,497,778Valley Educators C.U. 1,043 4,253,150 3,530,830 4,759,394 494,066Vantage West C.U. 136,233 1,381,144,054 1,416,106,078 1,583,734,298 183,186,788Warren F.C.U. 54,771 528,717,012 499,848,927 595,513,429 57,212,224Western Rockies F.C.U. 14,240 104,648,529 47,021,420 114,482,093 10,327,856Westerra C.U. 97,772 1,131,436,530 978,641,351 1,361,036,799 168,205,319Westminster F.C.U. 3,821 32,028,987 20,611,843 35,412,880 3,317,131White Crown F.C.U. 5,722 55,525,488 33,365,966 60,779,141 5,606,091Winslow Santa Fe C.U. 1,859 11,486,658 3,856,018 13,219,459 1,723,663Winslow Schools E.F.C.U. 531 4,036,203 2,062,634 4,665,467 620,711WYHY F.C.U. 13,594 175,939,465 179,616,697 206,122,931 24,173,966Wyochem F.C.U. 2,396 16,520,256 10,308,130 18,147,634 1,516,223Yellowstone F.C.U. 822 4,007,283 2,401,421 4,311,860 297,974Yuma County F.C.U. 2,337 29,694,854 11,735,379 33,563,975 3,722,347

3,105,439 30,217,486,465 23,639,483,60335,346,869,862 3,916,825,039 Net Worth = Regular Reserve, Undivided Earnings,Other Reserves, Merged Equity

CREDIT UNION YEAR- END STATISTICS

2 0 1 5 A N N U A L R E P O R T 19

ASSOCIATION STAFFADMINISTRATION

Scott Earl, President/CEO

Jaquetta Ward, Director of Corporate Affairs

Susan Daly, Director of Administration and Political Programs

Crystal Maldonado, Administrative Specialist

Ruben Martinez, Facilities Maintenance

Pat Nichols, Office Assistant

ACCOUNTING

Shaun Ongstad, SVP/Controller

Amy Falconetti, Accounting Manager

ASSOCIATION SERVICES

Dr. Dan Santangelo, SVP/Association Services

Nicole Brusewitz, VP of Education/Events

Dan Finerty, Director of Marketing

Diana Stoick, Director of Events

Rob Stahl, Manager of Information Technology

Shay Jacobs, Education/Training Coordinator

Donna Gibbs, Association Services Coordinator

CREDIT UNION RELATIONS

Mike Atchison, SVP/Credit Union Relations

Dixie Hill, VP of Indirect Lending

Rick Cranston, VP of Innovation and Product Development

Caroline Barragan, Indirect Lending Representative

Alex Heitz, Indirect Lending Representative

Rob Montoya, Indirect Lending 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

Patti Hazlett, Director of Corporate Communications

REGULATORY AFFAIRS

Mark Robey, SVP Regulatory Affairs

Melia Heimbuck, Director of Compliance

Julie Kappenman, Director of Association Compliance Services


mwcua.com | 800.477.1697