Skip to content
Nonprofiteer
← CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO

Form 990 for tax year 2024

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.

Totals

Total revenue
$496,693,327
Total expenses
$444,339,363
Contributions and grants received
$0
Grants paid
$478,240
Program service revenue
$413,198,204
Investment income
$68,980,979
Other revenue
$14,514,144
Total assets, end of year
$8,591,833,461
Total liabilities, end of year
$7,839,011,982
Net assets or fund balances, end of year
$752,821,479
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INCOME ON LOANS

    total $366,114,194 · related or exempt $366,114,194

  • 2b · Program service revenue: FEES/CHARGES/OTHER

    total $45,996,079 · related or exempt $45,996,079

  • 2c · Program service revenue: FINANCE & INSURANCE

    total $1,087,931 · unrelated business $1,087,931

  • 3 · Investment income

    total $65,995,458 · related or exempt $65,995,458

  • 7a · Gross sales of assets other than inventory

    other assets $8,930,586

  • 7b · Less cost or other basis and sales expenses

    other assets $5,945,065

  • 7c · Gain or loss

    other assets $2,985,521

  • 7d · Net gain or loss

    total $2,985,521 · related or exempt $2,985,521

  • 11a · Other revenue: OTHER NON-OPERATING INCOME

    total $14,478,572 · related or exempt $14,478,572

  • 11b · Other revenue: MORTGAGE SERVICING RIGHTS CAPITAL

    total $35,572 · related or exempt $35,572

  • 11e · Other revenue, total

    $14,514,144

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $478,240

  • 5 · Compensation of officers, directors and key employees

    total $8,009,775

  • 7 · Other salaries and wages

    total $28,884,540

  • 8 · Pension plan contributions

    total $3,282,367

  • 9 · Other employee benefits

    total $3,722,012

  • 10 · Payroll taxes

    total $2,640,839

  • 11a · Fees: management

    total $31,551,288

  • 11b · Fees: legal

    total $794,055

  • 11c · Fees: accounting

    total $614,698

  • 11g · Fees: other

    total $1,155,021

  • 12 · Advertising and promotion

    total $5,954,274

  • 13 · Office expenses

    total $6,576,766

  • 14 · Information technology

    total $19,522,664

  • 16 · Occupancy

    total $8,012,500

  • 17 · Travel

    total $176,999

  • 19 · Conferences, conventions and meetings

    total $126,364

  • 20 · Interest

    total $232,933,014

  • 22 · Depreciation, depletion and amortization

    total $5,430,087

  • 23 · Insurance

    total $264,171

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $54,925,593

  • 24b · Other expenses: ATM/CREDIT CARD

    total $12,797,478

  • 24c · Other expenses: LOAN SERVICING

    total $9,602,949

  • 24d · Other expenses: TELEPHONE AND POSTAGE

    total $2,777,716

  • 24e · All other expenses

    total $4,105,953

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $828,761,950 · end of year $704,683,610

  • 2 · Savings and temporary cash investments

    beginning of year $105,024,367 · end of year $110,940,963

  • 4 · Accounts receivable

    beginning of year $3,038,762 · end of year $1,927,388

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,696,521 · end of year $2,064,997

  • 7 · Other notes and loans receivable

    beginning of year $6,562,536,569 · end of year $6,843,728,684

  • 9 · Prepaid expenses and deferred charges

    beginning of year $965,030 · end of year -$1,726,980

  • 10a · Land, buildings and equipment: cost or other basis

    $124,409,947

  • 10b · Land, buildings and equipment: accumulated depreciation

    $54,027,603

  • 10c · Land, buildings and equipment, net

    beginning of year $43,210,451 · end of year $70,382,344

  • 11 · Investments: publicly traded securities

    beginning of year $408,270,931 · end of year $599,129,354

  • 12 · Investments: other securities

    beginning of year $45,378,887 · end of year $56,785,053

  • 15 · Other assets

    beginning of year $258,121,461 · end of year $203,918,048

  • 17 · Accounts payable and accrued expenses

    beginning of year $99,892,459 · end of year $82,398,063

  • 23 · Secured mortgages and notes payable

    beginning of year $650,000,000 · end of year $800,000,000

  • 25 · Other liabilities

    beginning of year $6,808,714,707 · end of year $6,956,613,919

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $700,397,763 · end of year $752,821,479

Mission and programs · 2024

Mission

BELLCO IS A PROGRESSIVE, MEMBER-OWNED ORGANIZATION THAT PROVIDES COMPETITIVE FINANCIAL SERVICES TO MEET EVOLVING MEMBER NEEDS. WE WILL SUSTAIN PLANNED GROWTH TO FUND THE FUTURE WHILE MAINTAINING MEMBER CONFIDENCE THROUGH FINANCIAL STABILITY. WE WILL PROVIDE A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND CONTRIBUTE TO THE SOCIAL AND ECONOMIC WELL BEING OF OUR COMMUNITY.

  • INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Douglas Ferraro

    PRESIDENT/CEO/DIRECTOR

    Total calculated
    $1,651,174
    From this org
    $1,593,843
    From related orgs
    $0
    Other
    $57,331
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $982,519
    Bonus
    $605,847
    Other
    $5,477
    Deferred
    $35,100
    Nontaxable benefits
    $22,231
    Filer's total
    $1,651,174

  • Steven Angelier

    BOD/CHAIRMAN

    Total calculated
    $65,250
    From this org
    $65,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Walker Fleming

    BOD/DIRECTOR

    Total calculated
    $45,250
    From this org
    $45,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Mark Goodman

    BOD/DIRECTOR

    Total calculated
    $40,750
    From this org
    $40,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • C David Kikumoto

    BOD/SECRETARY/TREASURER

    Total calculated
    $45,250
    From this org
    $45,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Peter Kirchhof

    BOD/DIRECTOR

    Total calculated
    $40,750
    From this org
    $40,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Andrew Murray

    BOD/DIRECTOR

    Total calculated
    $45,250
    From this org
    $45,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jane Prancan

    BOD/DIRECTOR

    Total calculated
    $45,250
    From this org
    $45,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Josefina Raphael

    BOD/DIRECTOR

    Total calculated
    $9,834
    From this org
    $9,834
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Laura Sonderup

    BOD/VICE CHAIR

    Total calculated
    $45,250
    From this org
    $45,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Maria Spray

    BOD/DIRECTOR/SUPERVISORY

    Total calculated
    $45,250
    From this org
    $45,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Daniel Kampen

    EVP/CFO

    Total calculated
    $1,492,416
    From this org
    $1,153,075
    From related orgs
    $0
    Other
    $339,341
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $709,901
    Bonus
    $435,500
    Other
    $7,674
    Deferred
    $327,600
    Nontaxable benefits
    $11,741
    Filer's total
    $1,492,416

  • John Rivera

    SVP/CRO

    Total calculated
    $731,553
    From this org
    $508,086
    From related orgs
    $0
    Other
    $223,467
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $350,023
    Bonus
    $154,000
    Other
    $4,063
    Deferred
    $203,266
    Nontaxable benefits
    $20,201
    Filer's total
    $731,553

  • Jack Pargeon

    SVP-FINANCE

    Total calculated
    $762,754
    From this org
    $513,319
    From related orgs
    $0
    Other
    $249,435
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $350,985
    Bonus
    $157,000
    Other
    $5,334
    Deferred
    $229,234
    Nontaxable benefits
    $20,201
    Filer's total
    $762,754

  • Juan Carlos Campos

    SVP GENERAL COUNSEL/COMPLIANCE

    Total calculated
    $507,907
    From this org
    $457,169
    From related orgs
    $0
    Other
    $50,738
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,338
    Bonus
    $141,025
    Other
    $1,806
    Deferred
    $27,600
    Nontaxable benefits
    $23,138
    Filer's total
    $507,907

  • Wendy Jones

    SVP-CHRO

    Total calculated
    $469,368
    From this org
    $304,153
    From related orgs
    $0
    Other
    $165,215
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,523
    Bonus
    $4,000
    Other
    $630
    Deferred
    $135,235
    Nontaxable benefits
    $29,980
    Filer's total
    $469,368

  • Susan Rice

    SVP-COMMERCIAL LENDING

    Total calculated
    $436,188
    From this org
    $385,630
    From related orgs
    $0
    Other
    $50,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,061
    Bonus
    $119,763
    Other
    $1,806
    Deferred
    $40,878
    Nontaxable benefits
    $9,680
    Filer's total
    $436,188

  • Matthew Kahn

    SVP-CONSUMER LENDING

    Total calculated
    $488,808
    From this org
    $416,776
    From related orgs
    $0
    Other
    $72,032
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,146
    Bonus
    $130,000
    Other
    $630
    Deferred
    $42,052
    Nontaxable benefits
    $29,980
    Filer's total
    $488,808

  • Tim Billings

    SVP TREASURY & ANALYTICS

    Total calculated
    $431,981
    From this org
    $400,648
    From related orgs
    $0
    Other
    $31,333
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $273,342
    Bonus
    $125,500
    Other
    $1,806
    Deferred
    $21,653
    Nontaxable benefits
    $9,680
    Filer's total
    $431,981

  • Rebecca Stembel

    SVP-CMEO

    Total calculated
    $609,542
    From this org
    $436,363
    From related orgs
    $0
    Other
    $173,179
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $306,733
    Bonus
    $129,000
    Other
    $630
    Deferred
    $143,049
    Nontaxable benefits
    $30,130
    Filer's total
    $609,542

  • Alvin McCarthy

    COMMERCIAL BUSINESS OFFICER

    Total calculated
    $903,288
    From this org
    $860,679
    From related orgs
    $0
    Other
    $42,609
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,258
    Bonus
    $720,596
    Other
    $3,825
    Deferred
    $28,712
    Nontaxable benefits
    $13,897
    Filer's total
    $903,288

  • Gregory Lundstrom

    COMMERCIAL BUSINESS OFFICER

    Total calculated
    $692,508
    From this org
    $649,688
    From related orgs
    $0
    Other
    $42,820
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,925
    Bonus
    $517,070
    Other
    $693
    Deferred
    $27,600
    Nontaxable benefits
    $15,220
    Filer's total
    $692,508

  • Jenna McFarlane

    VP-MARKETING

    Total calculated
    $297,464
    From this org
    $269,075
    From related orgs
    $0
    Other
    $28,389
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,345
    Bonus
    $44,100
    Other
    $630
    Deferred
    $18,709
    Nontaxable benefits
    $9,680
    Filer's total
    $297,464

  • Stacie Zidan

    VP-RETAIL DELIVERY

    Total calculated
    $281,735
    From this org
    $246,984
    From related orgs
    $0
    Other
    $34,751
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,359
    Bonus
    $44,000
    Other
    $625
    Deferred
    $17,616
    Nontaxable benefits
    $17,135
    Filer's total
    $281,735

  • Sharon Vaughn

    VP-OPERATIONS

    Total calculated
    $263,994
    From this org
    $244,151
    From related orgs
    $0
    Other
    $19,843
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,391
    Bonus
    $43,000
    Other
    $1,760
    Deferred
    $19,418
    Nontaxable benefits
    $425
    Filer's total
    $263,994

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
DAN KAMPEN, JACK PARGEON, JOHN RIVERA, WENDY JONES, AND REBECCA STEMBEL PARTICIPATE IN A NON QUALIFIED DEFERRED COMPENSATION PLAN. NO PARTICIPANTS RECEIVED A BENEFIT PAYOUT DURING 2024. THE CREDIT UNION ACCRUED DEFERRED COMPENSATION BENEFIT EXPENSES FOR THE FOLLOWING PARTICIPANTS DURING 2024: D. KAMPEN: $300,000 J. PARGEON: $207,284 J. RIVERA: $164,587 R. STEMBEL: $100,000 W. JONES: $100,000

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • BELLCO FOUNDATION

    501(C)(3) · TO FURTHER BELLCO CREDIT UNION'S CHARITABLE ACTIVITIES · CO · controlled entity

    Directly controlled by BELLCO CREDIT UNION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • OPEN TECHNOLOGY SOLUTIONS

    RELATED · IT SERVICES · CO · 33.34% owned · share of assets $9,195,869

Provenance

Return type
form_990
Tax year
2024
Filed
7 October 2025
IRS schema version
2024v5.2
Source object
202512809349302036

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.