Civic Intelligence

Bellco Credit Union

EIN 84-0146595 • 501(c)14 • Greenwood Village, CO

Profile

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.

Refreshing map…

7600 E Orchard Road 400NGreenwood Village, CO 80111

www.bellco.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

61st percentile

0.91x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

15.78x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Net Margin

57th percentile

11%

Higher net margin than 57% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Top Officer Pay

70th percentile

$1,651,174

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

$1B+ nonprofits • Source year 2024

Asset Growth

61st percentile

4.0%

Faster asset growth than 61% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Revenue Growth

62nd percentile

21%

Faster revenue growth than 62% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,591,833,461

Up $332,828,532 (+4.0%) from 2023

Liabilities

Up

$7,839,011,982

Up $280,404,816 (+3.7%) from 2023

Net Assets

Up

$752,821,479

Up $52,423,716 (+7.5%) from 2023

Revenue

Up

$496,693,327

Up $84,952,455 (+21%) from 2023

Expenses

Up

$444,339,363

Up $76,215,895 (+21%) from 2023

Net Income

Up

$52,353,964

Up $8,736,560 (+20%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10B$5.0B$0Assets 2011: $2,069,711,484Liabilities 2011: $1,844,120,321Net Assets 2011: $225,591,1632011Assets 2012: $2,244,374,759Liabilities 2012: $1,986,744,130Net Assets 2012: $257,630,6292012Assets 2013: $2,465,882,983Liabilities 2013: $2,190,876,970Net Assets 2013: $275,006,0132013Assets 2014: $2,738,746,371Liabilities 2014: $2,429,219,001Net Assets 2014: $309,527,3702014Assets 2015: $3,109,279,486Liabilities 2015: $2,758,494,087Net Assets 2015: $350,785,3992015Assets 2016: $3,769,852,518Liabilities 2016: $3,379,959,123Net Assets 2016: $389,893,3952016Assets 2017: $4,023,046,464Liabilities 2017: $3,595,468,027Net Assets 2017: $427,578,4372017Assets 2018: $4,517,595,715Liabilities 2018: $4,046,911,132Net Assets 2018: $470,684,5832018Assets 2019: $5,171,032,513Liabilities 2019: $4,650,256,679Net Assets 2019: $520,775,8342019Assets 2020: $5,518,860,512Liabilities 2020: $4,981,937,035Net Assets 2020: $536,923,4772020Assets 2021: $6,160,459,649Liabilities 2021: $5,565,676,325Net Assets 2021: $594,783,3242021Assets 2022: $7,362,214,487Liabilities 2022: $6,711,454,808Net Assets 2022: $650,759,6792022Assets 2023: $8,259,004,929Liabilities 2023: $7,558,607,166Net Assets 2023: $700,397,7632023Assets 2024: $8,591,833,461Liabilities 2024: $7,839,011,982Net Assets 2024: $752,821,4792024

Highlighted filing

2024

Assets$8,591,833,461
Liabilities$7,839,011,982
Net Assets$752,821,479

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600M$400M$200M$0Expenses 2011: $92,635,4412011Expenses 2012: $91,743,5212012Revenue 2013: $130,950,465Expenses 2013: $110,965,681Net Income 2013: $19,984,7842013Revenue 2014: $135,883,051Expenses 2014: $102,702,369Net Income 2014: $33,180,6822014Revenue 2015: $150,905,176Expenses 2015: $109,603,314Net Income 2015: $41,301,8622015Revenue 2016: $172,295,154Expenses 2016: $133,125,420Net Income 2016: $39,169,7342016Revenue 2017: $192,968,969Expenses 2017: $155,543,432Net Income 2017: $37,425,5372017Revenue 2018: $223,498,145Expenses 2018: $178,322,437Net Income 2018: $45,175,7082018Revenue 2019: $254,737,778Expenses 2019: $208,593,949Net Income 2019: $46,143,8292019Revenue 2020: $242,568,862Expenses 2020: $230,744,095Net Income 2020: $11,824,7672020Revenue 2021: $233,085,363Expenses 2021: $168,668,224Net Income 2021: $64,417,1392021Revenue 2022: $286,970,201Expenses 2022: $200,344,282Net Income 2022: $86,625,9192022Revenue 2023: $411,740,872Expenses 2023: $368,123,468Net Income 2023: $43,617,4042023Revenue 2024: $496,693,327Expenses 2024: $444,339,363Net Income 2024: $52,353,9642024

Highlighted filing

2024

Revenue$496,693,327
Expenses$444,339,363
Net Income$52,353,964

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8,592$7,839$753$497$444$52.4
2023Summary only. Only limited summary data is available for this year.$8,259$7,559$700$412$368$43.6
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7,362$6,711$651$287$200$86.6
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6,160$5,566$595$233$169$64.4
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5,519$4,982$537$243$231$11.8
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5,171$4,650$521$255$209$46.1
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,518$4,047$471$223$178$45.2
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,023$3,595$428$193$156$37.4
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$3,770$3,380$390$172$133$39.2
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,109$2,758$351$151$110$41.3
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,739$2,429$310$136$103$33.2
2013Detailed filing. Detailed filing data is available for this year.$2,466$2,191$275$131$111$20.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2,244$1,987$258$91.7
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,070$1,844$226$92.6
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 7, 2025
Return Version
2024v5.2
Gross Receipts
$502,638,392
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,562,536,569$6,843,728,684▲ $281,192,115
Rtn Earn Endowment Incm Other Fnds$700,397,763$752,821,479▲ $52,423,716
Cash and Non-Interest-Bearing Accounts$828,761,950$704,683,610▼ $124,078,340
Investments in Publicly Traded Securities$408,270,931$599,129,354▲ $190,858,423
Savings and Temporary Cash Investments$105,024,367$110,940,963▲ $5,916,596
Land, Buildings, and Equipment, Net$43,210,451$70,382,344▲ $27,171,893
Investments Other Securities$45,378,887$56,785,053▲ $11,406,166
Receivables From Officers Etc$3,696,521$2,064,997▼ $1,631,524
Accounts Receivable$3,038,762$1,927,388▼ $1,111,374
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Prepaid Expenses and Deferred Charges$965,030$-1,726,980▼ $2,692,010
Total Assets$8,259,004,929$8,591,833,461▲ $332,828,532
Other Assets Total$258,121,461$203,918,048▼ $54,203,413
Liabilities
Other Liabilities$6,808,714,707$6,956,613,919▲ $147,899,212
Mortgage Notes Payable Secured by Investment Property$650,000,000$800,000,000▲ $150,000,000
Accounts Payable and Accrued Expenses$99,892,459$82,398,063▼ $17,494,396
Total Liabilities$7,558,607,166$7,839,011,982▲ $280,404,816
Net Assets / Fund Balance
Total Net Assets Fund Balance$700,397,763$752,821,479▲ $52,423,716
Total Liabilities and Net Assets / Fund Balance$8,259,004,929$8,591,833,461▲ $332,828,532

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$24,135,563$11,354,252$35,489,815
Equipment$6,225,695$24,889,774$31,115,469
Land$29,181,265-$29,181,265
Leasehold Improvements$10,708,690$10,669,113$21,377,803
Other Land Buildings$131,131$7,114,464$7,245,595
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Douglas FerraroPresident/CEO/directorFT$982,519$668,655$1,651,174
Daniel KampenEvp/CFOFT$709,901$782,515$1,492,416
Alvin MccarthyCommercial Business OfficerFT$136,258$767,030$903,288
Jack PargeonSVP-financeFT$350,985$411,769$762,754
John RiveraSVP/CROFT$350,023$381,530$731,553
Gregory LundstromCommercial Business OfficerFT$131,925$560,583$692,508
Rebecca StembelSVP-cmeoFT$306,733$302,809$609,542
Juan Carlos CamposSVP General Counsel/complianceFT$314,338$193,569$507,907
Matthew KahnSVP-consumer LendingFT$286,146$202,662$488,808
Wendy JonesSVP-chroFT$299,523$169,845$469,368
Susan RiceSVP-commercial LendingFT$264,061$172,127$436,188
Tim BillingsSVP Treasury & AnalyticsFT$273,342$158,639$431,981
Jenna McfarlaneVP-marketingFT$224,345$73,119$297,464
Stacie ZidanVP-retail DeliveryFT$202,359$79,376$281,735
Sharon VaughnVP-operationsFT$199,391$64,603$263,994
Steven AngelierBod/chairmanPT$65,250-$65,250
Maria SprayBod/director/supervisoryPT$45,250-$45,250
C David KikumotoBod/secretary/treasurerPT$45,250-$45,250
Laura SonderupBod/vice ChairPT$45,250-$45,250
Andrew MurrayBod/director-$45,250-$45,250
Jane PrancanBod/director-$45,250-$45,250
Walker FlemingBod/director-$45,250-$45,250
Mark GoodmanBod/director-$40,750-$40,750
Peter KirchhofBod/director-$40,750-$40,750
Josefina RaphaelBod/director-$9,834-$9,834

Highest Paid Contractors

ContractorServicesLocationCompensation
Newground International INCBranch Design ServicesPO BOX 6228, Carol Stream, IL 60197$17,494,152
Fiserv INCFinancial Service TechnologyPO BOX 208457, Dallas, TX 75320$2,501,486
Diebold INCAtm EquipmentPO BOX 643543, Pittsburgh, PA 15264$2,458,664
Standard Register INC Dba Taylor CommuniStatemement ProcessingPO BOX 840655, Dallas, TX 75284$2,435,772
Visa INCCard Services900 METRO CENTER BLVD, Foster City, CA 94404$1,996,240
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$413,198,204
Investment Income
$68,980,979
Other Revenue
$14,514,144
Change in Net Assets
$52,353,964

Audited Revenue Reconciliation

Revenue per Audited Statements
$495,000,507
Revenue Not Reported on Financial Statements
$1,692,820
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$1,692,820
Total Revenue per Audited Statements
$495,000,507
Total Revenue per Form 990
$496,693,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$397,321,590
Salaries, Compensation, and Employee Benefits$46,539,533
Grants and Similar Amounts Paid$478,240
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$232,933,014
Fees for Services Management---$31,551,288
Other Salaries and Wages---$28,884,540
Information Technology---$19,522,664
Occupancy---$8,012,500
Current Officers, Directors, Trustees, and Key Employees---$8,009,775
Office Expenses---$6,576,766
Advertising---$5,954,274
Depreciation Depletion---$5,430,087
All Other Expenses---$4,105,953
Other Employee Benefits---$3,722,012
Pension Plan Contributions---$3,282,367
Other Expenses---$2,777,716
Payroll Taxes---$2,640,839
Fees for Services Other---$1,155,021
Fees for Services Legal---$794,055
Fees for Services Accounting---$614,698
Grants to Domestic Orgs---$478,240
Insurance---$264,171
Travel---$176,999
Conferences and Meetings---$126,364
Total Functional Expenses$0$0$0$444,339,363

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$444,339,363
Expenses per Audited Statements$442,646,543
Total Expenses per Audited Statements$442,646,543
Expenses Not Reported on Financial Statements$1,692,820
Other Expense Adjustments$1,692,820
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bellco FoundationGreenwood Village, CO501(c)(3)Charitable Contribution$478,240
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$725
Total Exempt Function Spending$725

Section 527 Organizations

OrganizationLocationAmount
91-0460483Seatac, WA$725
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$3,696,521$2,064,997▼ $1,631,524
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Certificates$2,367,309,226
Money Market$1,816,444,354
Shares$1,360,395,356
Share Drafts$1,188,694,585
Ira Accounts$223,770,398
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has members.

Form 990, Part VI, Section A, Line 7A

Credit union membership may participate in the election of officials.

Form 990, Part VI, Section A, Line 7B

Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.

Form 990, Part VI, Section B, Line 11B

The senior director and assistant controller is responsible for the preparation of the return. Upon completion, the return is reviewed by executive management and the president/ceo. Once all parties have completed their reviews and any necessary corrections are made, the return is filed. The board of directors will review the form 990 subsequent to filing.

Form 990, Part VI, Section B, Line 12C

Human resources is notified by risk management and others about potential code of ethics violations which they fully investigate. A decision is then made concerning the actions that should be taken for the violation.

Form 990, Part VI, Section B, Line 15

Market data is prepared by the chief administrative officer for all executive positions. Substantiation of the decision is given in written performance evaluations for all executives.

Form 990, Part VI, Section C, Line 19

The credit union's governing documents are not made available to the public. The credit union's conflict of interest policy is not made available to the public. The credit union's financial statements are available for public viewing on ncua.gov via the quarterly 5300 filing.

Filing and Contact Details

Filer

Filer Name
Bellco Credit Union
EIN
84-0146595
Phone
3036897800
Address
7600 E ORCHARD ROAD 400N, GREENWOOD VILLAGE, CO 80111

Signing Officer

Name
Daniel Kampen
Title
Evp/CFO
Phone
3036897800
Signed
2025-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas a Ferraro
Formed
1936
Legal Domicile
Co
Voting Board Members
10
Independent Board Members
9
Employees
383
Volunteers
2

Preparer

Firm
Doeren Mayhew
Address
8785 SW 165TH AVENUE SUITE 303, MIAMI, FL 33193
Preparer
Aubrey Clegg
Phone
3052328272
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional & outside services 1,155,021.

Form 990, Part IX, Line 24E

Other losses 1,692,820. Miscellaneous 1,361,808. Association dues 560,167. Stationery and supplies 491,158.

Form 990, Part XII, Line 2C

There were no changes to the process of the committee that assumes responsibility of the oversight of the audit and selection of the independent auditor.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt from most federal, state, and local taxes under the provisions of the internal revenue code (irc) and state tax laws. The income taxes topic of the fasb asc clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for sustainability on examination by tax authorities. The credit union is a state-chartered credit union as defined in irc section 501(c)(14). As such, the credit union is exempt from federal taxation of income derived from the performance of activities directly related to its exempt purposes. However, irc section 511 imposes a tax on the unrelated business income (ubi) derived by state chartered credit unions. Management has assessed the credit union's activities and any potential federal or state income tax liability and determined that the credit union has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Additionally, no interest and penalties have been recorded in the accompanying financial statements related to uncertain tax positions. Currently, the 2023, 2022, and 2021 federal income tax returns are open for examination by the internal revenue service (irs). The filing years open for examination by the state, if applicable, may be equal to, greater than or less than the years open for examination by the irs.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Other losses reported as a reduction of gains in the audited financial statements but reported in the statment of expenses within form 990 1,692,820.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Other losses reported as a reduction of gains in the audited financial statements but reported in the statment of expenses within form 990 1,692,820.

Raw XML AppendixShowing 400 of 998 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsReceivableGrp/EOYAmt01927388
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0BELLCO 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.
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IRS990/BooksInCareOfDetail/USAddress/CityNm0GREENWOOD VILLAGE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0CO
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