2024-04-25T12:49:21-05:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 860108241 CREDIT UNION WEST CRED 6026313200 PO BOX 7600 GLENDALE AZ 853127600 KELLY POLDOSKI CFO 6026313200 2024-04-25 1 KELLY POLDOSKI XXX-XX-XXXX 0 JOHN J MURNANE JR P03021572 3052328272 2024-04-25 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z KAREN ROCH PO BOX 7600 GLENDALE AZ 853127600 99507641 0 X WWW.CUWEST.ORG X 1951 AZ FINANCIAL COOPERATIVE TO PROVIDE LOANS AND FINANCIAL SERVICES TO CREDIT UNION MEMBERS. 7 7 254 14 293388 0 0 0 52942651 69745482 2027262 3858557 167621 221755 55137534 73825794 5000 145000 0 0 18229095 20411132 0 0 0 22633821 39787026 40867916 60343158 14269618 13482636 1117757318 1206329192 1014492447 1090583497 103264871 115745695 TO INSPIRE OUR MEMBERS, EMPLOYEES AND COMMUNITIES TO ACHIEVE THEIR FINANCIAL GOALS AND ENHANCE THEIR QUALITY OF LIFE. 0 0 FINANCIAL COOPERATIVE TO PROVIDE LOANS AND FINANCIAL SERVICES TO CREDIT UNION MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 21724 0 1 254 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X CREDIT UNION WEST 6026313200 10150 W DESERT RIVER BLVD GLENDALE AZ 85305 JACKSON DON DIRECTOR 1.00 X 0 0 0 GENDREAU LUIS DIRECTOR 1.00 X 0 0 0 LAGUNA FRANCES DIRECTOR 1.00 X 0 0 0 LOGAN EDWARD V. CHAIRPERSON 1.00 X 0 0 0 LARBERG GARY CHAIRPERSON 1.00 X 0 0 0 TYUS WANDA DIRECTOR 1.00 X 0 0 0 BOUCHER RAYMOND V. CHAIRPERSON 1.00 X 0 0 0 FORD JONATHON DIRECTOR 1.00 X 0 0 0 ROCH KAREN CEO/PRESIDENT 40.00 X 684599 0 304564 BIRR ROBERT VP-CHIEF LENDING OFFICER 40.00 X 388298 0 81754 BROWN CHERYL CHIEF PEOPLE OFFICER 40.00 X 349051 0 35812 DUONG NING SVP-COO 40.00 X 370757 0 70363 LOVELAND CONNIE SVP-CHIEF FINANCIAL OFFICE 40.00 X 343386 0 17018 POLDOSKI KELLY CHIEF FINANCIAL OFFICER 40.00 X 200856 0 39994 BAKER SETH R VP-IT 40.00 X 197770 0 26932 GREEN DANIELLE VP- RETAIL DELIVERY 40.00 X 202728 0 53223 CRUZ DIANA VP- LOSS PREVENTION 40.00 X 278195 0 35838 O'CONNOR RYAN SEAN VP- MARKETING & COMMUNICATIONS 40.00 X 215140 0 17600 BURT JAIME VP- ADMINISTRATION 40.00 X 184499 0 12926 WADE ROBERT INVESTMENT ADVISOR 40.00 X 175968 0 16413 BLOSS JODY DIRECTOR- CONSUMER LENDING 40.00 X 167905 0 10235 BELL KIONA DIRECTOR- DIGITAL DELIVERY 40.00 X 152618 0 11134 FIELDSON NICHOLAS INVESTMENT ADVISOR 40.00 X 182730 0 10047 4094500 0 743853 22 0 1 0 ALKAMI TECHNOLOGY PO BOX 670397 DALLAS TX 75267 ONLINE BANKING PROVIDER 1086546 MASTERCARD INTERNATIONAL 2200 MASTERCARD BLVD OFALLEN MO 633687263 CREDIT CARD ISSUER 1033476 WILLMENG CONSTRUCTORS INC 1702 EAST HIGHLAND AVE STE 450 PHOENIX AZ 85016 CONSTRUCTION 654881 JACK HENRY PO BOX 609 MONETT MO 65708 DATA PROCESSOR 649111 FIS PO BOX 4535 CAROL STREAM IL 60197 CARD PROCESSOR 584833 29 LOANS TO MEMBERS 522100 56927461 56927461 FEES/CHARGES/OTHER 522100 12524633 12524633 INVESTMENT SERVICES 523000 216721 216721 NON-MEMBER ATM FEE INC 525990 72444 72444 NON-MEMBER NOTARY FEE 541900 4223 4223 69745482 3800238 3800238 399288 177533 221755 221755 221755 25562633 25504314 58319 58319 58319 73825794 69510413 293388 4021993 X 45000 100000 4111303 12037617 1191148 1896832 1174232 131430 135857 3012214 972399 2173998 1460636 936832 204404 7431 15604394 99370 1599933 142951 PROVISION FOR LOAN LOSS 8022807 LOAN SERVICING 4484365 MAINTENANCE 547142 ATM EXPENSES 249250 1613 60343158 4622395 4527663 22575599 57947449 1596931 1415443 923760339 970193168 971207 1947970 41632553 11817041 31448393 29815512 94693319 95868000 7571100 5895100 30518035 38718887 1117757318 1206329192 18155437 26323331 36000000 960337010 1064260166 1014492447 1090583497 X 0 0 0 0 103264871 115745695 103264871 115745695 1117757318 1206329192 X 13482636 1889371 -2891183 X X 0 1 X 1 0 6362373 6362373 23211338 3680946 19530392 2386280 860082 1526198 9672562 7276013 2396549 29815512 SHARE ACCOUNTS 255613000 SHARE DRAFT ACCOUNTS 231356082 MONEY MARKET ACCOUNTS 202164217 SHARE AND IRA CERTIFICATES 375126867 1064260166 X 74003327 0 74003327 -177533 -177533 73825794 60520691 177533 177533 60343158 0 60343158 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, NO INCOME TAX PROVISION HAS BEEN RECORDED ON THE ACCOMPANYING FINANCIAL STATEMENTS. THE CREDIT UNION ANNUALLY FILES A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. THE CREDIT UNION HAD NO UNRECOGNIZED TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022. THE CREDIT UNION RECOGNIZED NO INTEREST OR PENALTIES ON THE UNDERPAYMENT OF INCOME TAXES DURING THE YEARS ENDED DECEMBER 31, 2023 AND 2022, AND HAD NO ACCRUED INTEREST OR PENALTIES ON THE STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2023 AND 2022. THE CREDIT UNION HAS NO TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE DURING THE NEXT TWELVE MONTHS. THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN STATE TAXING AUTHORITIES ARE CURRENTLY REVISITING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY STATE-CHARTERED CREDIT UNIONS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE IRS CODE ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. THE IRS HAS INDICATED THAT THEY ARE STUDYING THE ISSUE AND MAY ISSUE ADDITIONAL GUIDANCE. AS A RESULT, AT THIS TIME THERE IS UNCERTAINTY REGARDING WHETHER STATE-CHARTERED CREDIT UNIONS SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NON-TAXABLE STATUS. THE CREDIT UNION HAS NOT FILED ANY TAX RETURNS IN THE PAST SHOWING THESE ACTIVITIES AS POTENTIAL TAXABLE ACTIVITIES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNIONS NON-TAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNIONS FINANCIAL POSITION OR RESULTS OF OPERATIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990 AS A REDUCTION OF REVENUE BUT INCLUDED IN EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS -177,533. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990 AS A REDUCTION OF REVENUE BUT INCLUDED IN EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS 177,533. 1 GOWEST FOUNDATION 18000 INTERNATIONAL BLVD STE 1102 SEATAC WA 98188 911649328 501(C)(3) 45000 0 CHARITABLE CONTRIBUTION 1 0 DOWN PAYMENT ASSISTANCE PROGRAM 2 100000 PART I, LINE 2: THE CONTRIBUTION IS CHARITABLE IN NATURE, NOT A GRANT. FORM 990, SCHEDULE I, PART III QUALIFIED HOMEBUYERS MAY RECEIVE A GRANT TO USE TOWARD THEIR DOWN PAYMENT AND CLOSING COSTS. X X 1 1 X X X X X 1 1 0 ROCH KAREN CEO/PRESIDENT 591200 0 78399 0 15000 0 294000 0 10564 0 989163 0 0 0 BIRR ROBERT VP-CHIEF LENDING OFFICER 242785 0 39313 0 106200 0 76445 0 5309 0 470052 0 96000 0 DUONG NING SVP-COO 314365 0 46192 0 10200 0 70000 0 363 0 441120 0 0 0 BROWN CHERYL CHIEF PEOPLE OFFICER 299221 0 39630 0 10200 0 32000 0 3812 0 384863 0 0 0 LOVELAND CONNIE SVP-CHIEF FINANCIAL OFFICE 217326 0 46583 0 79477 0 10693 0 6325 0 360404 0 0 0 CRUZ DIANA VP- LOSS PREVENTION 189262 0 32933 0 56000 0 27826 0 8012 0 314033 0 56000 0 GREEN DANIELLE VP- RETAIL DELIVERY 169634 0 28094 0 5000 0 49953 0 3270 0 255951 0 0 0 POLDOSKI KELLY CHIEF FINANCIAL OFFICER 176662 0 24194 0 0 0 33823 0 6171 0 240850 0 0 0 O'CONNOR RYAN SEAN VP- MARKETING & COMMUNICATIONS 189740 0 24246 0 1154 0 14000 0 3600 0 232740 0 0 0 BAKER SETH R VP-IT 172559 0 25211 0 0 0 24412 0 2520 0 224702 0 0 0 BURT JAIME VP- ADMINISTRATION 158874 0 20625 0 5000 0 9076 0 3850 0 197425 0 0 0 FIELDSON NICHOLAS INVESTMENT ADVISOR 70735 0 109595 0 2400 0 9047 0 1000 0 192777 0 0 0 WADE ROBERT INVESTMENT ADVISOR 64852 0 108716 0 2400 0 9080 0 7333 0 192381 0 0 0 BLOSS JODY DIRECTOR- CONSUMER LENDING 145338 0 22567 0 0 0 8435 0 1800 0 178140 0 0 0 BELL KIONA DIRECTOR- DIGITAL DELIVERY 130153 0 22465 0 0 0 7734 0 3400 0 163752 0 0 0 PART I, LINES 4A-B CONNIE LOVELAND: $72,808 DURING 2023, THE BELOW-LISTED EMPLOYEES RECEIVED A NON-QUALIFIED 457(F) DEFERRED COMPENSATION PLAN PAYOUT: BIRR, ROBERT- $96,000 CRUZ, DIANA- $56,000 DURING 2023, THE BELOW-LISTED EMPLOYEES PARTICIPATED IN A NON-QUALIFIED 457(F) DEFERRED COMPENSATION PLAN. DOLLAR AMOUNTS REPORTED REPRESENT THE ACCRUED BENEFIT EXPENSE INCURRED BY THE CREDIT UNION DURING 2023. ROCH, KAREN- $280,000 BIRR, ROBERT- $64,000 CRUZ, DIANA- $18,667 GREEN, DANIELLE- $40,000 POLODSKI, KELLY- $23,333 DOUNG, NING- $56,000 BROWN, CHERYL- $32,000 BAKER, SETH- $14,000 O'CONNOR, RYAN- $14,000 DURING 2023, THE BELOW-LISTED EMPLOYEES DEFERRED THE FOLLOWING AMOUNTS TO A NON-QUALIFIED 457(B) PLAN: ROCH, KAREN- $22,500 BIRR, ROBERT- $22,500 CRUZ, DIANA- $14,000 DOUNG, NING- $22,490 GREEN, DANIELLE- $12,096 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION'S MEMBERS VOTE TO ELECT THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION'S MEMBERS VOTE ON ANY CHANGES TO THE GOVERNING BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 TAX RETURN IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO THE RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST FORM IS SIGNED ANNUALLY. INDIVIDUALS MUST REPORT ANY CONFLICT OF INTEREST AT THE TIME IT ARISES. FORM 990, PART VI, SECTION B, LINE 15 15(A): COMPENSATION COMMITTEE REVIEWS INFORMATION FROM AN INDEPENDENT COMPENSATION CONSULTANT AND FROM A COMPENSATION SURVEY FOR THE CEO'S SALARY. CEO'S COMPENSATION IS APPROVED BY THE BOARD. 15(B): COMPENSATION FOR OTHER OFFICERS IS REVIEWED BY THE COMPENSATION COMMITTEE BASED ON INPUT FROM AN INDEPENDENT COMPENSATION CONSULTANT AND A COMPENSATION SURVEY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED AT ALL BRANCH LOCATIONS. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS REPRESENTING THE ENTIRE MEMBERSHIP. OTHER POLICY STATEMENTS MAY BE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 24E MISCELLANEOUS 1,613. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME-NET CHANGE IN DEFINED BENEFIT PENSION PLAN 641,474. CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -3,532,657. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. CU WEST CARES INC PO BOX 7600 PHOENIX AZ 85312 920483609 PRIVATE FOUNDATION AZ 501(C)(3) CREDIT UNION WEST 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 CREDIT UNION WEST C 100000 ACTUAL