2015_mwcua_annual_report-lr

2015 ANNUAL MEETING & CONVENTION

MOUNTAIN WEST CREDIT UNION ASSOCIATION

PHOENIX, AZ | MARCH 26-28, 2015

AN

NU

AL

RE

PO

RT

“Progress is the constant replacing of the best there is with something better.”

~ Edward Filene

Our movement cannot afford to rest on its laurels. Nearly every day, a new issue, technology or regulation impacts us; what sets credit unions apart from other industries is our willingness to cooperate

with one another to tackle each challenge head-on.

We constantly see examples of collaboration and innovation that make things better for us all. Whether we are responding to a political issue, managing yet another data breach or standing together to protect our rights as a movement, we find ways to work together to benefit the whole.

In essence, we put Credit Unions First. We seek out ways to improve the lives of our members, and members of credit unions worldwide. In our region, we can celebrate many examples of innovation that helps create new opportunities.

Just last year, regional credit union executives participated in the first-ever Regulatory Hike the Hill, giving us a voice with regulatory agencies and the chance to express our concerns over issues affecting our movement. We created a platform on which we can build.

We have seen political gains with the election of a new credit union champion in Arizona, winning 93 of 100 endorsed elections and mailing out nearly 1 million political communications to credit union members.

Association member credit unions are taking advantage of education and training opportunities like never before. 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.

We continually seek ways to better the lives of our members through their credit union, and are committed to this goal. As technology advances and political agendas target our movement, we must not only keep up, but strive to lead.

That is what Credit Unions First is all about. Our investment in political action and technological competencies are at the forefront of our movement. Now, and into the future, how we choose to invest and focus will determine our success.

This movement was created out of a need to offer innovation for members; we must take the torch that has been passed to us and move forward to meet the needs of a new generation of credit union supporters. Our members demand and deserve that commitment from each one of us.

The Board of Directors is committed to supporting members through Credit Unions First. Through this direction, the Board sees a future that is better because strong, vibrant credit unions are a part of it.

From the Chairman

ROBERT D. RAMIREZChair

PHOENIX, AZ | MARCH 26 – 28, 2015 | WWW.MWCUA.COM 1

As we pause to take a look back at the accomplishments and opportunities of 2014, there’s a common theme that resonates. Our affiliated credit unions are engaged! We see it in all areas of the

Association and, for that, we are thankful. That engagement prompted the question - how can we better tap into the passion and drive of our credit unions? We know the answer. Our challenge - and opportunity - is to utilize that focus and align our efforts with that passion to better our movement.

Credit Unions First.

It may sound like a catchy slogan, but there is a lot of thought and truth behind it. We define the movement as community members making significant contributions to community goals. As a movement, our common goal is to put the interests of the members of our credit unions first and foremost in our thinking. We see tremendous examples of this every day.

We see it as the chance to refine our priorities. We have always been focused on serving the members of our respective credit unions. But this is the first time that as the Association, we are tapping into the passion of individual credit unions and working to bring the value of credit union membership to more people.

Of course, credit unions are already working towards these goals individually. But, like any team, we are stronger together. So, our collective efforts can be multiplied for even greater results in the areas that we need it most.

One of these is advocacy. This means putting forth the effort and energy to impact areas that influence our industry. Our political efforts have the ability to make a significant impact on our members, because what is decided by the government affects how we serve them. We can certainly make an impact individually, but when we unite in our efforts, we are a powerful force that commands respect and attention.

Political action is our top priority. We have built our goals in a manner that supports having the resources and ability to bring more value to our membership. To that end, we have begun rolling out a strategic plan designed to create growth for the entire credit union system. That plan leverages our existing resources but places greater importance on collaboration between departments and resources. By doing so, we achieve the higher goal of providing a platform that serves as a strong voice for our movement in the areas that matter the most.

I believe we have put the right pieces in motion to see a positive shift in how we can improve the lives of members. Our team is committed to providing the best possible resources, support, training and information. We are well positioned to accomplish our goals.

Of course, none of this would be possible without our Board. I sincerely thank our Board members and all who are so actively engaged in putting Credit Unions First. Our Chairman, Bob Ramirez, is a hard working, dedicated and committed leader of credit unions. I want to thank him for all he has done as he concludes his term at this year’s annual meeting.

From the President

SCOTT EARLPresident

2015 ANNUAL MEETING AND CONVENTION | MOUNTAIN WEST CREDIT UNION ASSOCIATION2

Association Board of Directors


JOHN UCHIDASpace Age FCUVice-Chair

SUNDIE SEEFRIEDPartner Colorado CU(through January 2015)

SANDY NEVESFitzsimons FCU(beginning February 2015)

SUSAN FRANKDesert Schools FCU

ROBERT D. RAMIREZVantage West CUChair

JIM YATESFirst Education FCUTreasurer

COLLEEN CURTISSouthwest Healthcare CUSecretary

DAN DESMONDTruWest CU

STEVE HIGGINSONReliant FCU

DAN KESTERSooper CU

DOUG FERRAROBellco CU

WALT MARXNorthern Colorado CU

Association Management Report

Legislative activity kept Government Affairs busy

Arizona, Colorado and Wyoming state legislatures spent 240 days in session in 2014. In that time 2,271 bills were introduced, and 86 were tracked by the Association. Of particular interest, the Association successfully passed a bill in Colorado that provided clarification to allow financial institution employers to use consumer credit information for employment. In addition, we successfully lobbied to have credit unions exempt from new foreclosure and mortgage requirements.

On the federal side, the Association lobbied members of our Congressional delegation against the NCUA’s risk-based capital proposal. We were successful in getting 13 of our 17 House members to sign a joint letter in opposition to the proposal. Half of our U.S. Senators wrote their own letters in opposition to the NCUA proposal.

Advocacy stays in the forefront of our efforts

A major focus of the Association in 2014 was the midterm elections. This cycle, Arizona and Colorado had some of the most competitive races in the country. During the two year cycle, the Association raised and spent $207,869.48 towards electing credit union friendly candidates at the state and federal level. ($170,471 Federal - $37,398 State). In addition, we engaged 144,152 credit union members in the 2014 election cycle to support candidates, and we mailed almost 1 million communications to credit union members supporting credit union candidates. Because of these efforts, 93 of our 100 endorsed candidates won election in 2014. One of our most notable races was the successful effort to elect a new credit union champion, Ruben Gallego, in Arizona’s 7th Congressional District.

We’ve seen significant growth across our social media platforms. Our grassroots teams had another record year and grew our advocacy teams by adding 2,100 advocates. Arizona now has 16,294 credit union advocates, Colorado has 15,909 and Wyoming grew to 2,477 advocates. These numbers allowed us to surpass 34,680 total grassroots advocates across all three states. Enhancing that effort, our social media following on Facebook has increased by 200 new advocates in 2014, finishing the year with more than 2,000 followers on six channels. Our Twitter followers increased in 2014 by 1,669 followers – from 5,149 in 2013 to 6,818 at the end of 2014.

On the public awareness front, www.asmarterchoice.org continues to be the main consumer website and media hub for the credit union movement. In 2014, asmarterchoice.org had 5,240 visitors from Arizona, Colorado, and Wyoming combined.


Public Affairs gears up

Finding more and better ways to communicate was a top priority for Public Affairs in 2014. We streamlined and brought all Public Affairs in-house. The key activity was helping member credit unions get the word out about all the great work they are doing in their communities. In 2014, Public Affairs prepared and distributed more than 40 press releases, as well as media pitches and responses to media requests. In addition, Public Affairs worked with credit unions in areas of crisis communications and media relations. Member credit unions received media coverage for all types of announcements from new hires to community events, awards and dividend announcements. And, Public Affairs secured an exclusive interview for CUNA President/CEO Jim Nussle with the Phoenix Business Journal. 2014 saw more than 150 Association-generated positive media mentions locally and nationally, through trade, on air, online, and print media; those were in addition to media mentions generated by credit unions themselves. Member credit unions also received a media toolkit developed by Public Affairs.

Public Affairs led the efforts to transition and redesign the Mountain West Credit Union Association website as well as to train and educate users. Finally, Public Affairs along with CUNA, produced the quarterly Membership@Work newsletter, a product which allows us to better communicate happenings within the region, as well as share nationally focused material.

Committed to advancing our members’ development through education and training

89% of member credit unions participated in one or more programs in 2014

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 Real Estate Lending, Emerging Leader, ACH Specialist, Compliance, Director and Frontline Webinar Series help keep costs manageable.

Together, we navigated the complicated and challenging world of compliance and regulation, and expanded educational access through distance learning and videoconferencing programs. We saw more than 2,000 registrations for 200+ webinars, network councils, schools, and conferences. One-day trainings took place by virtual classroom in 12 cities throughout our states. In 2014, our program rating remained high with an average 4.6 rating on a 1-5 scale (with 5 being the highest score).



Now more than ever, Mountain West is committed to developing future credit union leaders. In its fourth year, our Credit Union Leadership Institute graduated twenty-nine new leaders in the rigorous nine month program. The prestigious Foundation Executive Leadership Program currently has nine future leaders from all three states immersed in a five year leadership development process. These participants include: (2013) Maggie Camacho of Colorado Credit Union, Jeremy Gibson of Trona Valley Federal Credit Union, and Adrianne Rexius of Landings Credit Union; (2014) Choua Ly of Partner Colorado Credit Union, Angel Phillips of Reliant Federal Credit Union, and Lisett Olsen of Alhambra Credit Union; (2015) Matt Ballou of WyHy Federal Credit Union, Victoria Gomez of Landings Credit Union, and Adele Smith of Premier Members Federal Credit Union.

Networking Councils were offered in 2014 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, COO, HR/Trainers, Lending, and Marketing.

The numbers showcase the success:

• More than 360 attendees participated in the 2014 Annual Meeting & Convention in Colorado Springs

• 89% of member credit unions participated in the Association’s training programs

• The five networking councils garnered 260 credit union attendees

2014 saw the addition of new video conference locations in Rock Springs, WY and Tucson, AZ allowing networking and education sessions to reach more members with less travel. With six locations in our three states, member credit unions have greater access to one another and to training opportunities.

Hike the Hill highlights Regulatory Affairs

The 2014 Regulatory Affairs key highlight was the Association’s first-ever Regulatory Hike the Hill. Eleven credit union CEOs and staff joined Association CEO Scott Earl and Regulatory Affairs staff to meet with senior officials from the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration (NCUA). Credit union attendees shared factual data with the regulatory agencies about the extreme cost of compliance, and urged officials to seek opportunities for regulatory relief. Attendees urged NCUA officials to improve the examination process, particularly in the area of appeals and sat in on NCUA’s open board meeting and met the newest board member, Mark McWatters.




Association staff and Arizona credit union CEOs met with Dan Smith, Assistant Director with the CFPB, to discuss the agency’s regulatory agenda for 2015 and beyond. CEOs expressed their concerns on many different issues including student loans, prepaid cards, collections and overdraft programs, among others. Association staff strongly urged the CFPB not to restrict credit unions’ flexibility to meet the unique needs of individual credit unions’ fields of membership by imposing unnecessary regulatory restrictions in lieu of consumer disclosures.

The Association held town hall meetings with NCUA board member Rick Metsger in Arizona and Colorado. While discussion focused on NCUA’s proposed risk-based capital rule, other discussion topics included examination reform, volunteer recruiting, taxation and the declining number of credit unions, particularly small credit unions. The NCUA issued a revised proposed rule with another comment period after the agency received more than 2,000 comment letters, including letters from United States Senators and Representatives, that were highly critical of the original proposal. The Association’s Regulatory Committee also submitted a comment letter sharply criticizing not only the substance of the proposal but also the process undertaken by the NCUA.

Association staff met personally with Keith Morton, Regional Director of NCUA Region IV, and Elizabeth Whitehead, Regional Director of NCUA Region V, on numerous occasions. At these meetings, we urged improvements to the examination process including greater consistency, improved communications, more efficient use of time, better examiner training, and an improved appeals process. Association staff had multiple meetings with the Financial Institutions Manager of the Arizona Department of Financial Institutions and the Commissioner of the Colorado Division of Financial Services. Finally, staff met with NCUA and State supervisor examiners several times during the year.

Regulatory compliance assistance provided by the Regulatory Affairs staff was dominated by responding to questions about the new and revised mortgage rules that took effect early in 2014. Association staff responded to more than an estimated 1,200 requests for one-on-one compliance assistance from member credit unions. Staff provided examination support and assistance to member credit unions resulting in the regulatory agencies amending or eliminating examination findings and DOR/RBA items. More than 100 member credit unions took advantage of the dues-supported policy management system, PolicyPro, that provides credit unions with more than 200 model policies and an on-line, efficient system for reviewing, updating and archiving credit union policies.


The Association’s member credit unions made significant achievements in 2014 in community outreach

Every 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 Marathon, CU4Kids chocolate bar sales, Miracle Balloon Paper Icon Sales, Miracle Jeans Day and numerous other individual credit union-sponsored and organized fundraisers.

In 2014, contributions to Children’s Miracle Network Hospitals through Credit Unions for Kids in Arizona, Colorado, and Wyoming were $747,988, a 21% increase over 2013.

Market 2012 TOTAL 2013 TOTAL 2014 TOTAL

Phoenix Children's Hospital $494,078 $515,539 $620,235

Tucson Medical Center $51,849 $44,112 $54,499

Children's Hospital of Colorado

$46,849 $55,484 $73,254

$592,776 $615,135 $747,988

In early 2015, we recognized several member credit unions’ 2014 achievements: two statewide first place awards, one statewide second place award, and two statewide honorable mentions were presented. Also, one member credit union received a national honorable mention from CUNA to recognize their community service.

During the 2014 Credit Union Youth Week, participating member credit unions reported that 1,210 youth depositors opened 57 new youth accounts during the month of April for a total of $314,515 in youth deposits.

According to reports from the National Youth Involvement Board (NYIB), member credit unions in Arizona reported providing 324 financial literacy presentations to 8,973 students, and member credit unions in Colorado reported providing 329 presentations, reaching 10,455 students during the 2013–2014 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.



Strategic 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 2014

• Credit Union Advantage, Arizona’s Indirect Lending Program, had another great year in 2014. At year-end, 48,643 loans had been funded for a total of more than $1.2 billion dollars. This outperformed 2013 by over $45 million. In addition, we welcomed Southwest Healthcare Credit Union to the Credit Union Advantage program, bringing the total to 28 Arizona partner credit unions and 370 dealerships.

• Compliance Solutions experienced significant growth in 2013. The AffirmX platform continues to deliver best-in-class solutions to participating credit unions in all three states. A total of 34 credit unions are using the platform.

• Credit Union Vendor Management (CUVM) is our vendor management solution providing credit unions with a cost effective Vendor Management module. The platform continues to evolve and offer additional features.

• The newly renamed Love My Credit Union Rewards (formerly Invest in America) program delivered additional savings to members and revenue back to the participating credit unions. At the end of 2014, credit unions in Arizona and Colorado received over $222,000 for their marketing efforts in the Sprint program. The incentive for the service corporation is a combination of three areas: Sprint CU Member Discount Program, Turbo Tax Credit Union Program and the GM CU Member Discount Program. With increased marketing and special deals for members, we look for this program to increase in 2015.


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

Vehicle Repossession and Remarketing

A C W A C W

Online and Print Statement Solutions

A C W A C W

Member/Business Discount Programs; Credit Union Rebates

A C

Fully managaed ID Theft Recovey Service

A C W A C W

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

Powered by Primeritus Financial Services

Service availability by state: Arizona Colorado WyomingA C W


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 Tinucci, Jones and Company, P.C. was contracted to perform the annual audit. An unqualified opinion was rendered for the year ended December 31, 2014 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 $19,075,485 and net assets (capital) of $17,385,561. Net assets as of December 31, 2013 were $17,189,231. The activities that result in this increase to net assets of $196,330 are operating revenues of $6.57 million, net assets released from restrictions of $80,243, operating expenses of $6.48 million, other increases in unrestricted net assets of $83,962, increases in temporarily restricted net assets of $65,609, and other comprehensive loss of $129,263.

From the for-profit perspective of Strategic Partners, 2014 shows an after tax net gain of $26,921 versus the net gain in 2013 of $107,803. Primarily contributing to this year-over-year variance is $170,124 in additional operational expense and $75,085 less in income tax expense. Strategic Partners ended 2014 with total assets of $13,327,137 and total stockholder’s equity of $12,109,334. Total stockholder’s equity as of December 31, 2013 was $12,211,676. The activities that result in this decrease to net assets of $102,342 are operating revenues of $3.30 million, operating expenses of $3.27 million and decrease in accumulated other comprehensive income of $129,263.

The combined balance sheet shows a healthy and liquid condition with 59% 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,

Jim Yates, Treasurer

Financials

JIM YATES Treasurer


Financials

Consolidated Financial StatementsMountain West Credit Union Association and Subsidiary Consolidated Statements of Financial PositionDecember 31, 2014 and 2013.

2014 2013

AssetsCurrent assets:

Cash & cash equivalents $261,530 $1,189,326 Cash & cash equivalents - restricted 231,179 15,251 Accounts receivable 1,094,241 877,423 Core products held for re-sale 0 197,000 Other current assets 722,624 140,073

Total current assets $2,309,574 $2,419,073

Investments:Marketable investment securities 7,188,571 7,537,876 Marketable investment securities,

deferred compensation plans 2,660,379 1,287,655

Certificates of deposit 350,000 849,979 Credit Union House, LLC 688,050 670,672 CU Service Network, LLC 438,907 409,634 Members Trust Company, FSB 92,227 92,227 Other 345,539 337,358

Total investments 11,763,673 11,185,401

Property & equipment, at cost: Land 646,283 646,283 Building and improvements 3,411,603 3,364,622 FF&E and auto 2,193,333 1,998,452

6,251,219 6,009,357 Less accumulated depreciation 2,110,059 1,743,965

Total property & equipment 4,141,160 4,265,392

Other assets:Deferred tax asset 675,685 604,649 Accounts receivable, noncurrent 175,083 206,417 Other 10,310 10,310

Total other assets 861,078 821,376

Total assets $19,075,485 $18,691,242


Liabilities & Net AssetsCurrent liabilities:Accounts payable $317,758 $266,309 Property taxes payable 75,000 72,000 Other current liabilities 331,654 342,738

Total current liabilities 724,412 681,047

Other liabilities:Accrued compensated absences 222,715 209,584 Deferred compensation plans 684,984 542,506 Other 57,813 68,874

Total other liabilities 965,512 820,964

Total liabilities 1,689,924 1,502,011

Net Assets:Board Designated 150,000 0Unrestricted 16,780,804 16,670,820 Temporarily restricted 142,288 76,679 Accumulated other comprehensive income,

Subsidiary 312,469 441,732

Total net assets 17,385,561 17,189,231

Total liabilities & net assets $19,075,485 $18,691,242

Financials 2014 2013

Mountain West Credit Union Association and Subsidiary Consolidated Statement of ActivitiesDecember 31, 2014 and 2013. 2014 2013

Operating revenue:Membership dues $2,273,574 $2,268,881 Conferences/education 844,321 801,951 Core products 2,494,766 2,704,484 Product alliances 109,973 110,441 Rental income 111,668 114,009 Investment income 711,307 344,626 Other income 28,771 48,598

Total operating revenue 6,574,380 6,392,990

Net assets released from restriction:Satisfaction of program restrictions 80,243 0

Total unrestricted revenue 6,654,623 6,392,990


2014 2013

Financials

Operating expenses:Salaries and benefits 3,612,133 3,431,136 Conferences/education 693,666 591,835 Cost of core products sold 242,500 270,709 Government relations 199,289 180,235 Advanced Strategies 79,930 0Office operating expenses 981,380 937,610 Building, rent, depreciation 669,703 649,253

Total operating expenses 6,478,601 6,060,778

Excess of operating revenue over expenses 176,022 332,212

Other programs and changes in net assets:Realized and unrealized investment gains 92,904 435,516 Income taxes (8,942) (84,027)

Total other increases (decreases) in net assets 83,962 351,489

Increase in unrestricted net assets 259,984 683,701

Increase in temporarily restricted net assets:

Contributions and earning to Advanced Strategies Fund 145,852 15,251

Net assets released from restrictions (80,243) 0

Increase in temporarily restricted net assets 65,609 15,251

Increase in net assets 325,593 698,952

Net assets, beginning of year 17,189,231 16,324,021

Other comprehensive income (129,263) 166,258

Net assets, end of year $17,385,561 $17,189,231

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.


Credit Union Year- End Statistics

Affiliated credit unions (as of 12/31/14) Members Shares Loans Assets Net Worth

Air Academy F.C.U. 46,731 437,557,911 388,366,525 481,422,762 40,521,556 A.E.A. F.C.U. 36,409 222,754,407 194,016,352 238,460,187 12,489,786 A.P.C. E.F.C.U. 200 935,167 764,967 1,169,584 234,284 Akron F.C.U. 319 806,501 409,555 875,337 67,733 Alhambra C.U. 4,121 18,380,087 13,281,900 20,477,433 1,969,439 Altier C.U. 18,297 162,414,071 131,579,949 177,798,474 14,033,758 American Southwest C.U. 21,844 172,179,750 105,200,176 189,761,539 17,085,217 Arapahoe C.U. 9,952 99,164,682 81,041,695 109,311,162 9,683,896 Arizona Central C.U. 58,101 371,737,080 326,526,294 433,484,789 37,450,043 Arizona F.C.U. 125,264 1,086,738,522 560,875,478 1,284,688,093 172,281,371 Arizona State C.U. 135,057 1,383,311,469 1,028,417,890 1,656,657,134 165,122,789 Ashoka C.U. 305 2,147,861 1,652,067 2,324,335 171,029 Atlantic City F.C.U. 10,104 101,031,780 66,842,958 112,664,540 12,203,119 Aurora F.C.U. 7,500 67,305,760 40,909,682 78,930,516 10,744,170 Aurora Schools F.C.U. 7,051 89,502,806 50,864,965 99,982,086 10,191,819 Aventa C.U. 20,620 139,727,526 124,035,690 158,147,477 16,520,585 B.C.S. Community C.U. 3,127 20,849,598 14,364,608 25,378,380 4,470,331 Banner F.C.U. 9,298 49,433,022 22,114,646 55,793,398 5,976,161 Bashas Associates F.C.U. 4,927 13,515,591 5,852,481 15,141,311 1,590,522 Bellco C.U. 240,719 2,232,023,542 2,197,798,000 2,738,746,371 309,731,189 Boulder Valley C.U. 24,242 297,993,351 167,993,030 328,670,475 28,945,460 Campco F.C.U. 11,071 79,235,335 59,037,181 88,594,922 7,859,907 Canyon State C.U. 14,846 118,901,542 95,141,991 137,395,017 16,710,922 Cheyenne-Laramie County Empl. F.C.U. 2,486 18,134,606 7,528,130 20,637,008 2,429,565

Cochise C.U. 4,213 23,896,947 18,020,998 28,063,010 4,126,423 Coconino F.C.U. 8,282 55,476,922 30,633,871 61,462,333 5,614,751 Colorado C.U. 10,994 111,328,966 89,041,429 124,831,877 12,357,826 Columbine F.C.U. 4,580 46,792,505 29,211,901 51,720,659 4,879,600 Community Choice C.U. 6,006 47,316,042 23,353,839 55,547,827 7,617,636 Community Financial C.U. 17,383 188,352,715 156,672,858 216,649,671 25,882,044 Coors C.U. 17,081 165,634,783 150,210,161 197,094,948 22,154,846 Credit Union of Colorado 102,806 1,057,652,290 628,532,479 1,210,593,826 132,151,639 Credit Union of Denver 56,190 535,248,272 354,035,215 607,121,440 68,450,303 Credit Union of the Rockies 9,629 82,755,786 48,253,465 92,138,037 8,913,985 Deer Valley C.U. 14,996 185,319,304 108,535,362 204,726,268 17,587,187 Denver Community F.C.U. 25,162 229,779,824 135,968,086 269,454,704 37,786,990




Denver Fire Department F.C.U. 5,741 119,607,435 37,509,159 135,350,105 14,978,242 Desert Medical F.C.U. 2,134 9,089,557 5,808,760 9,776,157 837,254 Desert Schools F.C.U. 307,456 2,924,573,637 1,331,671,560 3,575,168,138 376,840,611 E.M. F.C.U. 1,478 6,142,299 3,193,067 7,672,125 1,525,370 Elevations C.U. 107,725 1,277,611,892 895,725,082 1,459,289,806 137,767,016 Ent F.C.U. 244,741 3,238,929,123 2,621,607,300 4,071,121,114 505,152,069 F C I F.C.U. 912 3,890,168 1,900,141 5,159,860 1,267,550 Fellowship C.U. 2,379 9,823,832 9,553,827 11,470,043 1,605,172 First American C.U. 21,905 97,922,901 70,563,891 108,215,582 8,403,079 First C.U. 40,155 372,653,711 264,239,200 410,037,024 36,355,701 First Cheyenne F.C.U. 4,299 25,067,883 18,318,001 27,653,953 2,525,542 First Education F.C.U. 5,541 46,224,291 18,974,952 50,280,382 3,673,943 Fitzsimons F.C.U. 18,486 148,348,754 85,282,047 170,935,681 20,323,189 Foothills C.U. 8,895 76,209,790 59,662,238 84,513,212 8,062,725 Fort Morgan Schools F.C.U. 576 3,740,269 2,152,201 4,437,835 695,011 Green River Basin F.C.U. 2,113 10,289,317 6,405,860 11,118,660 818,013 Guadalupe Parish C.U. 2,945 15,403,389 13,442,960 22,260,239 6,820,625 Harrison District No 2 F.C.U. 1,654 10,151,486 4,699,351 12,005,975 1,808,506 Haxtun Community F.C.U. 563 3,854,190 3,468,396 4,437,709 573,073 Holyoke Community F.C.U. 2,875 27,514,177 23,784,910 30,162,962 2,587,025 Horizons North C.U. 7,829 65,013,352 42,640,868 71,286,295 6,122,841 Hughes F.C.U. 84,368 684,356,078 638,043,088 766,245,180 77,701,519 J.A.C.L. C.U. 186 517,192 352,792 657,722 134,477 Lamar Civic F.C.U. 1,107 4,928,120 2,462,793 5,378,235 432,775 Landings C.U. 14,316 123,690,886 88,449,883 136,477,140 11,893,384 Laramie Plains Community F.C.U. 5,492 37,099,487 33,854,193 41,388,469 4,253,325 Legal Community CU of Colorado 737 3,817,667 3,371,243 4,193,085 360,043 Meridian Trust F.C.U. 23,650 268,368,430 200,196,125 304,199,671 31,906,427 Metrum Community C.U. 4,770 52,743,341 34,000,640 60,717,723 7,489,216 Minnequa Works C.U. 18,007 147,670,848 65,589,733 166,529,601 18,479,603 Mohave Community F.C.U. 5,250 24,562,402 19,222,052 26,967,835 2,078,315 Mountain River C.U. 3,844 21,100,997 10,858,944 23,111,324 1,985,150 Northern Colorado C.U. 3,578 39,870,172 29,758,842 45,910,051 5,854,947 Northwest United F.C.U. 5,415 73,595,093 37,574,196 81,223,771 7,122,909 Otero County Teachers F.C.U. 1,153 3,885,139 1,763,146 4,329,982 439,609 Partner Colorado C.U. 30,926 234,284,259 223,975,197 281,080,127 34,366,642



Peoples C.U. 2,458 34,980,905 31,058,648 41,539,840 6,438,849 Pikes Peak C.U. 8,710 65,279,019 55,312,588 72,382,647 6,944,236 Pima F.C.U. 53,143 361,717,826 225,689,363 438,574,271 44,669,668 Pinal County F.C.U. 19,932 101,909,665 75,036,496 110,683,427 8,571,256 Porter F.C.U. 2,601 19,139,194 4,389,979 22,785,418 3,615,406 Powell Schools F.C.U. 374 1,891,593 1,323,244 2,072,906 181,313 Power C.U. 11,395 71,297,842 42,333,515 82,454,310 9,328,329 Premier Members F.C.U. 39,851 418,005,232 384,542,466 484,195,430 56,655,115 Prescott F.C.U. 1,288 5,507,332 3,835,156 6,474,618 959,460 Public Service Employees C.U. 163,174 1,278,168,545 966,794,802 1,451,444,300 155,886,811 Pueblo Government Agencies F.C.U. 3,631 23,776,632 10,864,556 27,679,128 3,789,287

Pueblo Horizons F.C.U. 3,531 23,741,793 11,741,133 27,690,067 3,693,152 Pyramid F.C.U. 15,258 118,313,910 86,505,554 134,567,945 12,057,727 Ray F.C.U. 2,053 7,119,748 6,268,051 8,232,901 1,106,393 Red Rocks C.U. 16,896 214,130,989 157,077,849 237,972,246 22,400,699 Reliant F.C.U. 11,055 101,028,998 65,294,645 111,268,071 10,142,707 Rim Country F.C.U 2,089 11,541,272 7,504,042 13,002,669 1,397,323 River-Rail Community F.C.U. 5,252 31,905,396 25,086,296 35,073,932 3,079,337 Rocky Mountain Law Enforcement F.C.U. 12,058 144,014,656 103,673,558 176,683,113 29,987,310

Routt Schools F.C.U. 849 4,284,421 1,486,740 4,663,437 370,548 San Juan Mountains C.U. 3,145 23,431,076 17,314,272 25,954,299 2,479,362 San Tan C.U. 1,418 8,232,094 5,062,447 9,085,944 645,254 School District 3 F.C.U. 2,042 19,021,290 9,380,252 21,689,439 2,622,063 Shamrock Foods F.C.U. 1,458 3,831,999 3,686,101 4,397,720 435,269 Sheridan Community F.C.U. 4,752 33,764,013 31,938,436 38,109,815 4,181,666 Sooper C.U. 32,871 257,653,312 171,680,228 296,991,494 36,059,934 Southeastern Arizona F.C.U. 5,934 26,495,383 18,647,943 30,402,827 3,694,039 Southwest Health Care C.U. 2,111 13,226,465 8,318,209 15,032,314 1,573,106 Space Age F.C.U. 14,557 97,428,535 82,360,555 107,286,547 9,172,995 Sterling F.C.U. 8,741 109,635,399 40,279,069 129,808,473 18,703,042 Sun West F.C.U. 43,976 240,679,085 202,027,861 282,945,873 42,237,587 Sunlight F.C.U. 11,116 89,996,952 35,706,506 102,905,120 13,101,278 Sunwest Educational C.U. 10,939 101,302,795 61,790,633 112,032,760 10,011,738




Sweetwater F.C.U. 2,391 18,539,914 8,311,174 21,481,532 2,638,006 Trona Valley Community F.C.U. 18,834 145,995,606 133,262,013 164,083,159 18,547,414 TruWest C.U. 67,944 787,018,752 727,230,091 893,629,857 94,011,048 Tucson F.C.U. 48,923 323,752,882 215,174,568 357,896,610 33,025,008 Tucson Old Pueblo C.U. 11,846 123,825,036 61,425,197 134,303,733 9,463,674 U-Haul F.C.U. 3,622 4,844,012 2,980,472 5,546,101 682,411 Uniwyo F.C.U. 20,707 226,933,600 160,365,910 259,718,139 28,314,819 Valley Educators C.U. 1,056 4,223,613 3,366,915 4,682,357 448,433 Vantage West C.U. 132,431 1,187,216,935 1,249,536,978 1,416,185,982 170,872,716 Warren F.C.U. 51,403 471,801,273 443,991,936 537,548,735 50,920,194 Western Rockies F.C.U. 14,601 100,875,354 45,646,657 111,154,226 10,285,886 Westerra C.U. 89,576 1,059,847,520 860,284,174 1,282,218,975 161,145,105 Westminster F.C.U. 3,792 29,761,786 19,021,592 33,034,425 3,245,219 White Crown F.C.U. 6,067 55,427,662 32,532,979 61,027,120 5,365,614 Winslow Santa Fe C.U. 1,943 10,949,230 4,439,526 12,566,109 1,609,317 Winslow Schools E.F.C.U. 535 3,816,808 2,329,925 4,422,429 599,953 WyHy F.C.U. 13,179 172,336,700 158,257,771 195,386,176 22,040,095 Wyo Central F.C.U. 3,487 26,500,647 19,244,845 29,490,897 2,834,580 Wyochem F.C.U. 2,545 16,017,692 9,610,470 17,707,017 1,603,409 Yellowstone F.C.U. 882 4,194,703 2,470,893 4,499,588 295,601 Yuma County F.C.U. 2,383 27,769,528 11,465,459 31,635,888 3,651,090 Total 3,099,919 28,991,990,506 21,492,123,250 34,050,982,059 3,737,040,630 Net Worth = Regular Reserve, Undivided Earnings,Other Reserves, Merged Equity



Association Staff

Administration

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

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

Dan Finerty, Director of Marketing

Diana Stoick, Director of Events

Rob Stahl, Manager of Information Technology

Shay Jacobs, Education/Training Coordinator

Shelley Johnson, Association Services Coordinator

Credit Union Relations

Mike Atchison, SVP/Credit Union Relations

Dixie Hill, VP of Indirect Lending

Rick Cranston, Director of Business 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

Vianey Cortez, Office Assistant

Regulatory Affairs

Mark Robey, SVP Regulatory Affairs

Melia Heimbuck, Director of Compliance

Julie Kappenman, Director of Association Compliance Services

Donna Gibbs, Administrative Assistant


2015 ANNUAL MEETING & CONVENTION

MOUNTAIN WEST CREDIT UNION ASSOCIATION

PHOENIX, AZ | MARCH 26-28, 2015

mwcua.com | 800.477.1697