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Nonprofiteer
← CREDIT UNIONS CHARTERED IN COLORADO

Form 990 for tax year 2024

Filed by CREDIT UNIONS CHARTERED IN COLORADO.

Totals

Total revenue
$6,241,142
Total expenses
$6,047,591
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,396,227
Investment income
$827,543
Other revenue
$17,372
Total assets, end of year
$108,620,049
Total liabilities, end of year
$97,544,832
Net assets or fund balances, end of year
$11,075,217
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: INTEREST ON LOANS TO M

    total $4,151,623 · related or exempt $4,151,623

  • 2b · Program service revenue: OTHER PROGRAM SERVICE

    total $628,642 · related or exempt $628,642

  • 2c · Program service revenue: FEES CHARGED TO MEMBER

    total $576,708 · related or exempt $576,708

  • 2d · Program service revenue: CREDIT CARD FEES

    total $31,929 · related or exempt $31,929

  • 2e · Program service revenue: FINANCE AND INSURANCE

    total $7,325 · unrelated business $7,325

  • 3 · Investment income

    total $827,543 · excluded $827,543

  • 5 · Royalties

    total $4,072 · excluded $4,072

  • 6a · Gross rents

    real property $17,700

  • 6b · Less rental expenses

    real property $4,400

  • 6c · Rental income or loss

    real property $13,300

  • 6d · Net rental income or loss

    total $13,300 · related or exempt $13,300

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $577,973

  • 7 · Other salaries and wages

    total $1,709,919

  • 8 · Pension plan contributions

    total $102,943

  • 9 · Other employee benefits

    total $254,302

  • 10 · Payroll taxes

    total $212,851

  • 11b · Fees: legal

    total $12,322

  • 11c · Fees: accounting

    total $42,541

  • 11g · Fees: other

    total $157,217

  • 12 · Advertising and promotion

    total $73,160

  • 13 · Office expenses

    total $470,490

  • 14 · Information technology

    total $381,880

  • 16 · Occupancy

    total $177,232

  • 17 · Travel

    total $10,811

  • 19 · Conferences, conventions and meetings

    total $50,757

  • 20 · Interest

    total $903,207

  • 22 · Depreciation, depletion and amortization

    total $91,296

  • 23 · Insurance

    total $49,621

  • 24a · Other expenses: VISA EXPENSE

    total $299,713

  • 24b · Other expenses: LOAN EXPENSES

    total $155,096

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $137,614

  • 24d · Other expenses: MISCELLANEOUS

    total $76,490

  • 24e · All other expenses

    total $100,156

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $754,799 · end of year $899,554

  • 2 · Savings and temporary cash investments

    beginning of year $7,416,946 · end of year $9,994,155

  • 4 · Accounts receivable

    beginning of year $126,620 · end of year $127,689

  • 7 · Other notes and loans receivable

    beginning of year $82,042,461 · end of year $76,455,752

  • 9 · Prepaid expenses and deferred charges

    beginning of year $626,370 · end of year $409,368

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

    $2,965,205

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

    $2,299,940

  • 10c · Land, buildings and equipment, net

    beginning of year $675,623 · end of year $665,265

  • 11 · Investments: publicly traded securities

    beginning of year $14,935,912 · end of year $14,651,381

  • 12 · Investments: other securities

    beginning of year $1,282,644 · end of year $1,214,821

  • 14 · Intangible assets

    beginning of year $4,347 · end of year $1,738

  • 15 · Other assets

    beginning of year $6,625,299 · end of year $4,200,326

  • 17 · Accounts payable and accrued expenses

    beginning of year $254,011 · end of year $274,924

  • 25 · Other liabilities

    beginning of year $103,711,207 · end of year $97,269,908

  • 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 $10,525,803 · end of year $11,075,217

Mission and programs · 2024

Mission

OUR VISION IS TO BE THE FOREMOST PROVIDER OF FINANCIAL SOLUTIONS ENRICHING BOTH OUR MEMBERS' LIVES AND THE MOUNTAIN COMMUNITIES WE SERVE. OUR MISSION IS TO HELP OUR MEMBERS ACHIEVE THEIR FINANCIAL DREAMS, WHILE OUR ASPIRATION IS TO BECOME THE MORE TRUSTED SOURCE OF FINANCIAL SERVICES IN THE COLORADO ROCKY MOUNTAIN REGION.

Activities or mission (Part I)

TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION BY PROVIDING THEM THE OPPORTUNITY TO ACCUMULATE SHARES AND TO MAKE LOANS FROM THEM.

  • PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO NEARLY 9,000 MEMBERS OF THE CREDIT UNION.

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

Listed in Part VII

  • Martina Ferris

    CHAIRPERSON

    Total calculated
    $3,038
    From this org
    $3,038
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Reynolds

    VICE CHAIRPERSON

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Wendy Davis

    SECRETARY/TREASURER

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Thomas Davidson

    DIRECTOR

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Milford Adams

    DIRECTOR

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Andrew McCabe

    DIRECTOR

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Nathaniel Peterson

    DIRECTOR

    Total calculated
    $2,125
    From this org
    $2,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Peter Bullard

    PRESIDENT/CEO

    Total calculated
    $244,424
    From this org
    $224,328
    From related orgs
    $0
    Other
    $20,096
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $192,959
    Bonus
    $16,000
    Other
    $15,369
    Deferred
    $13,475
    Nontaxable benefits
    $6,621
    Filer's total
    $244,424

  • Robert Bruhn

    CFO

    Total calculated
    $154,493
    From this org
    $138,874
    From related orgs
    $0
    Other
    $15,619
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $138,874
    Bonus
    $0
    Other
    $0
    Deferred
    $8,469
    Nontaxable benefits
    $7,150
    Filer's total
    $154,493

  • Karrie Marchese

    COO

    Total calculated
    $148,393
    From this org
    $129,257
    From related orgs
    $0
    Other
    $19,136
    Hours/week
    50

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

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

No itemized grants to organizations on this return.

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 corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RANDALL J MIMS AND WILLIAM L GRUBBS 2016 IRREVOCABLE TRUST

    T · HOLD INSURANCE POLICY · CO · 100% owned · share of income $43,841 · share of assets $2,350,488 · controlled entity

    Directly controlled by CREDIT UNION OF THE ROCKIES

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.2
Source object
202513099349303091

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