Civic Intelligence

Credit Union of Denver

EIN 84-0186846 • 501(c)14 • Lakewood, CO

Profile

Credit Union of Denver is committed to being a leader in: Providing quality financial service, Exceeding members' expectations, and Achieving a loyal relationship with members and staff

9305 W Alameda AveLakewood, CO 80226

www.cudenver.com

Siviq Scores

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

Liabilities / Assets

58th percentile

0.91x

Higher debt load relative to assets than 58% of similar nonprofits.

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

Liabilities / Revenue

51st percentile

15.26x

Higher debt load relative to revenue than 51% of similar nonprofits.

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

Net Margin

12th percentile

2.1%

Higher net margin than 12% of similar nonprofits.

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

Top Officer Pay

8th percentile

$555,514

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

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

Asset Growth

1st percentile

-20%

Faster asset growth than 1% of similar nonprofits.

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

Revenue Growth

16th percentile

8.1%

Faster revenue growth than 16% of similar nonprofits.

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

Assets

Down

$1,167,530,117

Down $283,179,595 (-20%) from 2023

Liabilities

Down

$1,063,862,149

Down $289,474,753 (-21%) from 2023

Net Assets

Up

$103,667,968

Up $6,295,158 (+6.5%) from 2023

Revenue

Up

$69,729,643

Up $5,216,715 (+8.1%) from 2023

Expenses

Up

$68,272,601

Up $9,375,738 (+16%) from 2023

Net Income

Down

$1,457,042

Down $4,159,023 (-74%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $507,143,555Liabilities 2010: $456,778,417Net Assets 2010: $50,365,1382010Assets 2011: $536,286,285Liabilities 2011: $480,903,064Net Assets 2011: $55,383,2212011Assets 2012: $553,038,461Liabilities 2012: $493,492,383Net Assets 2012: $59,546,0782012Assets 2013: $572,764,341Liabilities 2013: $511,049,765Net Assets 2013: $61,714,5762013Assets 2014: $607,178,238Liabilities 2014: $538,553,058Net Assets 2014: $68,625,1802014Assets 2015: $642,452,841Liabilities 2015: $569,481,316Net Assets 2015: $72,971,5252015Assets 2016: $703,641,953Liabilities 2016: $624,945,135Net Assets 2016: $78,696,8182016Assets 2017: $753,712,524Liabilities 2017: $667,913,331Net Assets 2017: $85,799,1932017Assets 2018: $797,284,098Liabilities 2018: $703,693,375Net Assets 2018: $93,590,7232018Assets 2019: $885,526,918Liabilities 2019: $777,726,678Net Assets 2019: $107,800,2402019Assets 2020: $1,032,113,074Liabilities 2020: $912,581,458Net Assets 2020: $119,531,6162020Assets 2021: $1,142,313,148Liabilities 2021: $1,017,779,141Net Assets 2021: $124,534,0072021Assets 2022: $1,093,899,387Liabilities 2022: $1,008,160,742Net Assets 2022: $85,738,6452022Assets 2023: $1,450,709,712Liabilities 2023: $1,353,336,902Net Assets 2023: $97,372,8102023Assets 2024: $1,167,530,117Liabilities 2024: $1,063,862,149Net Assets 2024: $103,667,9682024

Highlighted filing

2024

Assets$1,167,530,117
Liabilities$1,063,862,149
Net Assets$103,667,968

Operations Trend

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

$80M$60M$40M$20M$0Expenses 2010: $22,122,7632010Expenses 2011: $19,992,0562011Expenses 2012: $19,720,3022012Revenue 2013: $24,172,502Expenses 2013: $19,423,435Net Income 2013: $4,749,0672013Revenue 2014: $26,247,432Expenses 2014: $19,802,561Net Income 2014: $6,444,8712014Revenue 2015: $27,941,103Expenses 2015: $22,904,801Net Income 2015: $5,036,3022015Revenue 2016: $29,900,866Expenses 2016: $23,439,820Net Income 2016: $6,461,0462016Revenue 2017: $31,957,523Expenses 2017: $23,896,301Net Income 2017: $8,061,2222017Revenue 2018: $36,016,721Expenses 2018: $26,837,883Net Income 2018: $9,178,8382018Revenue 2019: $40,489,630Expenses 2019: $30,705,387Net Income 2019: $9,784,2432019Revenue 2020: $41,574,401Expenses 2020: $33,748,294Net Income 2020: $7,826,1072020Revenue 2021: $39,919,680Expenses 2021: $26,439,131Net Income 2021: $13,480,5492021Revenue 2022: $40,883,372Expenses 2022: $31,851,614Net Income 2022: $9,031,7582022Revenue 2023: $64,512,928Expenses 2023: $58,896,863Net Income 2023: $5,616,0652023Revenue 2024: $69,729,643Expenses 2024: $68,272,601Net Income 2024: $1,457,0422024

Highlighted filing

2024

Revenue$69,729,643
Expenses$68,272,601
Net Income$1,457,042

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,168$1,064$104$69.7$68.3$1.46
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,451$1,353$97.4$64.5$58.9$5.62
2022Detailed filing. Detailed filing data is available for this year.$1,094$1,008$85.7$40.9$31.9$9.03
2021Detailed filing. Detailed filing data is available for this year.$1,142$1,018$125$39.9$26.4$13.5
2020Detailed filing. Detailed filing data is available for this year.$1,032$913$120$41.6$33.7$7.83
2019Detailed filing. Detailed filing data is available for this year.$886$778$108$40.5$30.7$9.78
2018Detailed filing. Detailed filing data is available for this year.$797$704$93.6$36.0$26.8$9.18
2017Detailed filing. Detailed filing data is available for this year.$754$668$85.8$32.0$23.9$8.06
2016Detailed filing. Detailed filing data is available for this year.$704$625$78.7$29.9$23.4$6.46
2015Detailed filing. Detailed filing data is available for this year.$642$569$73.0$27.9$22.9$5.04
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$607$539$68.6$26.2$19.8$6.44
2013Detailed filing. Detailed filing data is available for this year.$573$511$61.7$24.2$19.4$4.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$553$493$59.5$19.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$536$481$55.4$20.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$507$457$50.4$22.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$72,998,433
Mission and Program Overview

Mission

Credit union of denver is committed to being a leader in: providing quality financial service, exceeding members' expectations, and achieving a loyal relationship with members and staff

To be a trusted partner for our members in reaching their financial goals by providing superior value, products and service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$690,105,544$752,499,199▲ $62,393,655
Investments in Publicly Traded Securities$324,246,417$294,736,202▼ $29,510,215
Rtn Earn Endowment Incm Other Fnds$97,372,810$103,667,968▲ $6,295,158
Savings and Temporary Cash Investments$395,296,950$78,200,563▼ $317,096,387
Receivables From Officers Etc$12,433,187$12,766,620▲ $333,433
Land, Buildings, and Equipment, Net$5,486,789$5,051,612▼ $435,177
Investments Other Securities$3,806,661$3,884,180▲ $77,519
Prepaid Expenses and Deferred Charges$1,777,794$3,314,892▲ $1,537,098
Cash and Non-Interest-Bearing Accounts$1,324,399$1,403,782▲ $79,383
Accounts Receivable$832,751$287,110▼ $545,641
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,450,709,712$1,167,530,117▼ $283,179,595
Other Assets Total$15,399,220$15,385,957▼ $13,263
Liabilities
Other Liabilities$1,039,122,113$1,060,109,660▲ $20,987,547
Accounts Payable and Accrued Expenses$314,214,789$3,752,489▼ $310,462,300
Total Liabilities$1,353,336,902$1,063,862,149▼ $289,474,753
Net Assets / Fund Balance
Total Net Assets Fund Balance$97,372,810$103,667,968▲ $6,295,158
Total Liabilities and Net Assets / Fund Balance$1,450,709,712$1,167,530,117▼ $283,179,595

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,032,448$7,154,249$10,186,697
Equipment$1,144,156$7,912,640$9,056,796
Land$875,000-$875,000
Leasehold Improvements$8$591,959$591,967
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David DilleyCLOFT$509,115$46,399$555,514
Chris WallacePresident/CEOFT$463,848$85,434$549,282
Tamara DankersCOOFT$311,131$43,450$354,581
Scott CollinsCFOFT$281,514$53,153$334,667
Fred HowardCTOFT$272,637$44,010$316,647
Schwan HardiCSOFT$269,474$39,569$309,043
Kristin ThompsonVphrFT$188,011$33,637$221,648
Gary JusticeAvp Compliance, Fraud & SeFT$156,073$40,052$196,125
Raudel MaderaNetwork Information SecuriFT$149,389$38,607$187,996
Brenda MontoyaDirector of Financial ServFT$146,305$32,023$178,328
Michael LandisAvp Information TechnologyFT$135,549$30,492$166,041
Anthony NietoCLOFT$82,135$10,535$92,670
Doug BurkeSec/treas-$2,400-$2,400

Board Members and Trustees

NameTitle
Kristina SappChairman
Fernando RochaVice Chairman
Carl BinghamDirector
Donna PiazzaDirector
George VolentirDirector
Lee AllenDirector
Russel Smith JrDirector
Tim Williams JrDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Corelation INCCore Operation System Provider/support2305 HISTORIC DECATURE RD SUITE 300, San Diego, CA 92106$998,466
Fiserv Solutions INCCore System ProcessPO BOX 99924, Grape Vine, TX 76099-9724$923,257
ItainiumIt Services And EquipmentPO BOX 13401, Chandler, AZ 85248$777,134
Digital Credence INCDigital Banking And Core Conversion Cons234 PALMER DR, Lexington, SC 29072$395,103
Doxim INCStmt Proc & Mailing747 E WHITCOMB AVE, Madison Heights, MI 48071$351,363
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$54,272,383
Investment Income
$15,260,964
Other Revenue
$196,296
Change in Net Assets
$1,457,042

Audited Revenue Reconciliation

Revenue per Audited Statements
$69,729,643
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$69,729,643
Total Revenue per Form 990
$69,729,643
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$51,753,071
Salaries, Compensation, and Employee Benefits$16,509,530
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$11,081,818
Fees for Services Other---$4,559,434
Interest---$4,109,213
Current Officers, Directors, Trustees, and Key Employees---$2,514,804
Other Expenses---$2,159,865
Other Employee Benefits---$1,382,921
Payroll Taxes---$970,935
Depreciation Depletion---$911,275
Advertising---$901,128
All Other Expenses---$634,516
Pension Plan Contributions---$559,052
Fees for Services Legal---$536,843
Occupancy---$256,011
Conferences and Meetings---$255,494
Grants to Domestic Individuals---$10,000
Total Functional Expenses$0$0$0$68,272,601

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$68,272,601
Total Expenses per Audited Statements$68,272,601
Total Expenses per Form 990$68,272,601
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$12,433,187$12,766,620▲ $333,433
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares, Deposits and Certificates$1,060,109,660
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Line 6 explanation - persons eligible to become a member include anyone who lives or works in jefferson, denver, arapahoe, boulder, adams, and douglas counties, colorado, employees (and family members) of the u.s. Department of the interior, other select government agencies, and other select businesses (segs). A $5 deposit is required for membership.

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

Line 7a explanation - members elect the governing body through a mail ballot process.

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

Line 7b explanation - merger - requires two thirds majority vote of voting members. Charter conversion - requires two thirds majority vote of voting members. Dissolution and liquidation - requires majorty vote of entire membership.

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

Line 11b explanation - the form 990 is prepared by an independent cpa firm, and the cfo and accounting director erform a review for reasonableness prior to filing with the irs.

Form 990, Part VI, Section B, Line 15

For the ceo there is a compensation committee of the board that reviews industry salary comparisons and a salary administration program provided by a third party and documents their decision. For all other key employees, similar data is reviewed and decided upon by the ceo. The above compensation committee of the board reviews and approves the split dollar agreements of all key employees.

Form 990, Part VI, Section C, Line 19

No documents available to the public other than call reports made available on ncua's website. Members can review non-confidential board meeting minutes upon request

Form 990 - Part VI - Line 12

Conflict of interest policy: each director signs oath of office but there is no formal conflict of interest disclosure or specific policy.

Filing and Contact Details

Filer

Filer Name
Credit Union of Denver
EIN
84-0186846
Phone
3032341700
Address
9305 W ALAMEDA AVE, LAKEWOOD, CO 80226

Signing Officer

Name
Scott Collins
Title
CFO
Phone
3032341700
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Wallace
Formed
1931
Legal Domicile
Co
Voting Board Members
9
Independent Board Members
9
Employees
209
Volunteers
15

Preparer

Firm
Jones Mertsching Cpas Pc
Address
32186 CASTLE COURT SUITE 220, EVERGREEN, CO 80439
Preparer
Eric L Jones CPA
Phone
3034809090
Supplemental Narrative

Additional Explanations

Form 990 - Part XII - Line 2C

No change from prior years

Financial Statement Notes

PART X, LINE 2:

Income tax status the credit union is exempt from federal and state income taxes on income that is related to its tax-exempt purpose. The credit union reports and pays income tax on any unrelated business taxable income. In addition, the cuso is subject to federal and state income taxes. The credit union's accounting policy under fasb acs 740-10, accounting for uncertainty in income taxes, is to recognize in its consolidated financial statements only those tax benefits (reported or to be reported in its tax returns) when it is more likely than not that the tax position will be sustained on examination by the relevant taxing authority. Management currently believes that it is more likely than not that all of its significant tax positions, including positions related to the unrelated business income tax (ubit), would be sustained on examination by relevant taxing authorities. Additionally, no interest and penalties have been recorded in the accompanying consolidated financial statements related to uncertain tax positions. Currently, the 2023, 2022, and 2021 ubit federal income tax returns are open for examination by the irs.

Raw XML AppendixShowing 400 of 791 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
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IRS990/ActivityOrMissionDesc0TO BE A TRUSTED PARTNER FOR OUR MEMBERS IN REACHING THEIR FINANCIAL GOALS BY PROVIDING SUPERIOR VALUE, PRODUCTS AND SERVICE.
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