Civic Intelligence

Credit Unions in State of Arizona

990 • Fiscal year 2014 • EIN 86-0108241

Jan 01, 2014 to Dec 31, 2014 • Filed on Jun 24, 2015

PO Box 7600Glendale, AZ 85312

(602) 631-3200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.90x

Higher debt load relative to assets than 55% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

23rd percentile

15.20x

Higher debt load relative to revenue than 23% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Net Margin

69th percentile

19%

Higher net margin than 69% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

62nd percentile

$427,274

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Asset Growth

70th percentile

7.1%

Faster asset growth than 70% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Revenue Growth

58th percentile

3.3%

Faster revenue growth than 58% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Assets

Up

$549,234,387

Up $36,649,592 (+7.1%) from 2013

Net Assets

Up

$56,381,872

Up $4,893,840 (+9.5%) from 2013

Liabilities

Up

$492,852,515

Up $31,755,752 (+6.9%) from 2013

Revenue

Up

$32,434,349

Up $1,025,589 (+3.3%) from 2013

Expenses

Up

$26,420,012

Up $3,808,408 (+17%) from 2013

Net Income

Down

$6,014,337

Down $2,782,819 (-32%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5B$1.0B$500M$0Assets 2010: $414,019,525Liabilities 2010: $382,777,497Net Assets 2010: $31,242,0282010Assets 2011: $450,093,502Liabilities 2011: $414,351,801Net Assets 2011: $35,741,7012011Assets 2012: $484,148,361Liabilities 2012: $440,041,279Net Assets 2012: $44,107,0822012Assets 2013: $512,584,795Liabilities 2013: $461,096,763Net Assets 2013: $51,488,0322013Assets 2014: $549,234,387Liabilities 2014: $492,852,515Net Assets 2014: $56,381,8722014Assets 2015: $595,812,152Liabilities 2015: $537,164,768Net Assets 2015: $58,647,3842015Assets 2016: $643,849,278Liabilities 2016: $581,719,534Net Assets 2016: $62,129,7442016Assets 2017: $674,766,463Liabilities 2017: $607,681,921Net Assets 2017: $67,084,5422017Assets 2018: $714,248,010Liabilities 2018: $640,248,970Net Assets 2018: $73,999,0402018Assets 2019: $772,531,216Liabilities 2019: $690,107,370Net Assets 2019: $82,423,8462019Assets 2020: $921,242,904Liabilities 2020: $831,580,369Net Assets 2020: $89,662,5352020Assets 2021: $1,059,321,576Liabilities 2021: $961,725,577Net Assets 2021: $97,595,9992021Assets 2022: $1,117,757,318Liabilities 2022: $1,014,492,447Net Assets 2022: $103,264,8712022Assets 2023: $1,206,329,192Liabilities 2023: $1,090,583,497Net Assets 2023: $115,745,6952023Assets 2024: $1,299,512,297Liabilities 2024: $1,171,816,104Net Assets 2024: $127,696,1932024

Highlighted filing

2014

Assets$549,234,387
Liabilities$492,852,515
Net Assets$56,381,872

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0Expenses 2010: $30,063,5432010Expenses 2011: $23,852,2812011Expenses 2012: $23,379,1652012Revenue 2013: $31,408,760Expenses 2013: $22,611,604Net Income 2013: $8,797,1562013Revenue 2014: $32,434,349Expenses 2014: $26,420,012Net Income 2014: $6,014,3372014Revenue 2015: $30,850,556Expenses 2015: $28,335,335Net Income 2015: $2,515,2212015Revenue 2016: $32,997,204Expenses 2016: $29,051,949Net Income 2016: $3,945,2552016Revenue 2017: $36,257,053Expenses 2017: $31,196,552Net Income 2017: $5,060,5012017Revenue 2018: $40,724,172Expenses 2018: $34,616,004Net Income 2018: $6,108,1682018Revenue 2019: $42,894,881Expenses 2019: $36,802,960Net Income 2019: $6,091,9212019Revenue 2020: $45,503,288Expenses 2020: $39,317,097Net Income 2020: $6,186,1912020Revenue 2021: $47,143,966Expenses 2021: $38,979,860Net Income 2021: $8,164,1062021Revenue 2022: $55,137,534Expenses 2022: $40,867,916Net Income 2022: $14,269,6182022Revenue 2023: $73,825,794Expenses 2023: $60,343,158Net Income 2023: $13,482,6362023Revenue 2024: $93,524,656Expenses 2024: $81,317,971Net Income 2024: $12,206,6852024

Highlighted filing

2014

Revenue$32,434,349
Expenses$26,420,012
Net Income$6,014,337
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 24, 2015
Return Version
2014v5.0
Gross Receipts
$32,808,581
Mission and Program Overview

Mission

To inspire our members, employees and communities to achieve their financial goals and enhance their quality of life.

Providing loans/services to credit union members

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$357,768,075$399,687,224▲ $41,919,149
Rtn Earn Endowment Incm Other Fnds$51,488,032$56,381,872▲ $4,893,840
Investments Other Securities$57,752,639$44,316,275▼ $13,436,364
Cash and Non-Interest-Bearing Accounts$20,996,602$24,196,301▲ $3,199,699
Land, Buildings, and Equipment, Net$21,419,965$16,329,933▼ $5,090,032
Accounts Receivable$2,423,895$10,639,229▲ $8,215,334
Prepaid Expenses and Deferred Charges$2,238,998$3,614,738▲ $1,375,740
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$512,584,795$549,234,387▲ $36,649,592
Other Assets Total$49,984,621$50,450,687▲ $466,066
Liabilities
Other Liabilities$454,675,881$485,231,883▲ $30,556,002
Accounts Payable and Accrued Expenses$6,420,882$7,620,632▲ $1,199,750
Total Liabilities$461,096,763$492,852,515▲ $31,755,752
Net Assets / Fund Balance
Total Net Assets Fund Balance$51,488,032$56,381,872▲ $4,893,840
Total Liabilities and Net Assets / Fund Balance$512,584,795$549,234,387▲ $36,649,592

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,665,305$1,971,647$9,636,952
Land$7,175,040-$7,175,040
Other Land Buildings$1,420,200$5,186,719$6,606,919
Leasehold Improvements$69,388$1,471,417$1,540,805
Other Assets Org$1--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert W MacgregorPresident & CEOFT$301,267$126,007$427,274
Karen RochExecutive VPFT$179,017$95,826$274,843
David W SmithSr VP / CGCFT$166,746$103,413$270,159
Robert BirrVP LendingFT$145,636$76,772$222,408
Scott GrundyVP ItFT$129,382$71,386$200,768
Diana CruzVP Support ServiceFT$133,198$61,049$194,247
Lisa HayVP Relation MgtFT$85,459$91,480$176,939
Debbie WinterVP OperationsFT$116,637$41,571$158,208
Pamela L ChanCFOFT$29,049-$29,049

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$29,221,148
Investment Income
$1,118,540
Other Revenue
$2,094,661
Change in Net Assets
$6,014,337
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,613,861
Salaries, Compensation, and Employee Benefits$12,806,151
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$8,185,646
Current Officers, Directors, Trustees, and Key Employees---$1,659,268
Occupancy---$1,633,537
Other Expenses---$1,595,864
Other Employee Benefits---$1,158,351
Pension Plan Contributions---$982,517
Depreciation Depletion---$916,717
Payroll Taxes---$820,369
Advertising---$640,215
All Other Expenses---$620,000
Conferences and Meetings---$115,190
Interest---$278
Total Functional Expenses$0$0$0$26,420,012
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$485,231,883
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 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, Line 6: Explanation of Classes of Members or Shareholder

Credit Union is owned by its members

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

Membership votes to elect governing body.

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

Membership votes on any governing by-laws changes.

Form 990, Part VI, Line 11B: Form 990 Review Process

A copy of the Form 990 tax return is reviewed and approved by the Board of Directors prior to the return being filed.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Conflict of interest form is signed annually. Individuals must report any conflict of interest at the time it arises.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

15(a)Compensation Committee reviews information from independent compensation consultant and a compensation survey for CEO's and recommends salary range for each position. CEO's compensation is approved by the board.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

15b.Compensation for other Officers is reviewed by the compensation committee based on input from an independent compensation consultant and a compensation survey.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Financial statements are posted at all branch locations. Governing documents and conflict of interest policy are reviewed annually by the Board of Directors representing the entire membership. Other policy statements may be available upon request.

Filing and Contact Details

Filer

Filer Name
Credit Union West
EIN
86-0108241
Phone
6026313200
Address
PO Box 7600, Glendale, AZ 85312

Signing Officer

Name
Pamela L Chan
Title
CFO
Signed
2015-06-24

Organization Details

Formed
1951
Legal Domicile
Az
Voting Board Members
9
Independent Board Members
9
Employees
237
Volunteers
14
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Other Comprehensive Income - pension plan = -$2770277

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt8President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt9Executive VP
IRS990/Form990PartVIISectionAGrp/TitleTxt10SR VP / CGC
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP IT
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP Lending
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP Support Service
IRS990/Form990PartVIISectionAGrp/TitleTxt15VP Relation Mgt
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IRS990/PYTotalRevenueAmt031408760
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IRS990ScheduleD/LandGrp/BookValueAmt07175040
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt07175040
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt069388
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01471417
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01540805
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0870242
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11520014
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt24691137
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt343369293
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Corp Credit Union PIC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1CUSO
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2NCUA share insurance fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Other Assets
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4Rounding
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0485231883
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Shares
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016329933
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IRS990ScheduleD/TotalLiabilityAmt0485231883
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
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IRS990ScheduleJ/CompensationSurveyInd0X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2133198

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,300$1,172$128$93.5$81.3$12.2
2023Detailed filing. Detailed filing data is available for this year.$1,206$1,091$116$73.8$60.3$13.5
2022Detailed filing. Detailed filing data is available for this year.$1,118$1,014$103$55.1$40.9$14.3
2021Detailed filing. Detailed filing data is available for this year.$1,059$962$97.6$47.1$39.0$8.16
2020Detailed filing. Detailed filing data is available for this year.$921$832$89.7$45.5$39.3$6.19
2019Detailed filing. Detailed filing data is available for this year.$773$690$82.4$42.9$36.8$6.09
2018Detailed filing. Detailed filing data is available for this year.$714$640$74.0$40.7$34.6$6.11
2017Detailed filing. Detailed filing data is available for this year.$675$608$67.1$36.3$31.2$5.06
2016Detailed filing. Detailed filing data is available for this year.$644$582$62.1$33.0$29.1$3.95
2015Detailed filing. Detailed filing data is available for this year.$596$537$58.6$30.9$28.3$2.52
2014Detailed filing. Detailed filing data is available for this year.$549$493$56.4$32.4$26.4$6.01
2013Detailed filing. Detailed filing data is available for this year.$513$461$51.5$31.4$22.6$8.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$484$440$44.1$23.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$450$414$35.7$23.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$414$383$31.2$30.1