2024-11-15T12:58:05-06:00 2023-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 1100 LOS ANGELES CA 90024 990 2023-01-01 840808889 RED ROCKS CREDIT UNION REDR 3034717625 8195 SOUTH PARK LANE LITTLETON CO 80120 AMANDA KOBZA VP, FINANCE 3034717625 2024-11-15 1 0 NANAZ BENYAMINI P00666808 3104773924 2024-11-15 2023 2024-10-15 13:58:12Z DARIUS WISE 8195 SOUTH PARK LANE LITTLETON CO 80120 19694249 0 X WWW.REDROCKS.ORG X 1979 CO ENRICHING LIVES 7 7 69 12 9709 0 0 0 15878132 18007327 602400 1666586 67433 9709 16547965 19683622 99818 65725 0 0 5601861 5628440 0 0 0 10494198 13669357 16195877 19363522 352088 320100 346576542 327115000 316713989 298475782 29862553 28639218 ENRICHING LIVES 0 0 THE CREDIT UNION IS OWNED BY APPROXIMATELY 17,000 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, SHARED BRANCHING SERVICES, DEPOSIT/TRANSACTIONAL SERVICES, MORTGAGE LENDING, HOME BANKING, BILL PAYMENT AND OTHERS FINANCIAL SERVICES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 5086 0 1 69 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X BETSY GUERRERO FRACTIONAL CFO 3034717625 8195 SOUTH PARK LANE LITTLETON CO 80120 JOERI CARTY BOARD CHAIR 4.00 X X 0 0 0 CESAR AMICARELLA BOARD VICE CHAIR 2.00 X X 0 0 0 JULIE MENSING BOARD TREASURER 2.00 X X 0 0 0 TIFFANY WATTS BOARD SECRETARY 2.00 X X 0 0 0 ANDREA PRICE BOARD MEMBER 2.00 X 0 0 0 JOE MASSAQUOI BOARD MEMBER 2.00 X 0 0 0 AGNES AUDEBERT BOARD MEMBER 2.00 X 0 0 0 DARIUS WISE PRESIDENT/CEO 40.00 X 393532 0 53988 ELIZABETH GUERRERO EXECUTIVE VICE PRESIDENT/CFO 40.00 X 257404 0 62026 DUC CHU CTO 40.00 X 94317 0 15897 HELEN GIBSON SVP, MEMBER EXPERIENCE 40.00 X 201303 0 51041 MARY RAMOS SVP, PEOPLE SERVICES 40.00 X 150163 0 362 KATHRYN SHUT VP, DATA ENABLEMENT 40.00 X 158196 0 24592 CHRISTINA MAUL VP, RISK MANAGEMENT 40.00 X 111349 0 48787 RODERICK WASHINGTON SVP, IT 40.00 X 108824 0 11964 1475088 0 268657 7 0 1 0 0 INTEREST MEMBER LOANS 522100 16222727 16222727 FEES MEMBER SERVICE 522100 725759 725759 VISA CHECK CARD INCOME 522100 567085 567085 OTHER OPERATING INCOME 522100 484136 484136 INCOME SALE OF MORTGAGES 522100 7620 7620 18007327 1673213 1673213 4000 10627 -6627 -6627 -6627 AUTO WARRANTY INCOME 522100 8936 8936 FOREIGN ATM FEES 522100 773 773 9709 19683622 18007327 9709 1666586 65725 1462821 3257624 114828 447001 346166 104089 92289 189981 442551 99429 769666 154286 625819 1031407 DIVIDENDS AND INTEREST 4247656 LOAN SERVICING EXPENSE 2676544 CREDIT LOSS EXPENSE 2256765 OFFICE OPERATIONS EXPEN 947644 31231 19363522 13425811 1278130 2564306 22730666 1260904 4182431 291045325 263032160 458244 626682 19695094 7148093 12877173 12547001 18313621 16578684 2916830 1684737 3714328 4454509 346576542 327115000 3065907 3073406 25000000 15000000 288648082 280402376 316713989 298475782 X 0 0 0 0 29862553 28639218 29862553 28639218 346576542 327115000 X 320100 399450 -1942885 X 0 1 X 1 0 1 0 1092229 1092229 13495420 3345018 10150402 5107445 3803075 1304370 12547001 MEMBER SHARES,DEPOSITS,CERTIFICATES 280402376 280402376 X 19683622 0 19683622 0 19683622 19363522 0 19363522 0 19363522 PART IV, LINE 1B: IN PRIOR YEARS, THE CREDIT UNION SOLD FIRST MORTGAGE LOANS TO OTHERS WITH SERVICING RETAINED. THE CUSTODIAL ESCROW ACCOUNTS RELATED TO THESE MORTGAGE LOANS ARE NOT INCLUDED IN THE CREDIT UNION'S FINANCIAL STATEMENTS, BUT THE CREDIT UNION CONTINUES TO SERVICE THESE LOANS. PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14) AND, AS SUCH, IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, THE CREDIT UNION PAYS TAXES ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE CREDIT UNION HAD NO SIGNIFICANT TAX LIABILITY FOR THE YEAR ENDED DECEMBER 31, 2023. 1 MADE TO IMPACT FOUNDATION 8195 SOUTHPARK LANE LITTLETON CA 80120 872019060 501(C)(3) 65725 0 OPERATING EXPENSES 1 0 X X X X X 1 0 0 DARIUS WISE PRESIDENT/CEO 327097 0 63473 0 2962 0 16172 0 37816 0 447520 0 0 0 ELIZABETH GUERRERO EXECUTIVE VICE PRESIDENT/CFO 235224 0 22019 0 161 0 28583 0 33443 0 319430 0 0 0 HELEN GIBSON SVP, MEMBER EXPERIENCE 174443 0 26706 0 154 0 22500 0 28541 0 252344 0 0 0 KATHRYN SHUT VP, DATA ENABLEMENT 142184 0 15987 0 25 0 8301 0 16291 0 182788 0 0 0 CHRISTINA MAUL VP, RISK MANAGEMENT 102463 0 8886 0 0 0 30000 0 18787 0 160136 0 0 0 MARY RAMOS SVP, PEOPLE SERVICES 150000 0 0 0 163 0 0 0 362 0 150525 0 0 0 FORM 990, PART 1, LINE 5 & PART V, LINE 2A NUMBER OF EMPLOYEES IS REPORTED AS ZERO AS THE CREDIT UNION DOES NOT FILE FORM W-3. ADP TOTAL SOURCE, AS COMMON PAYMASTER, FILES FORM W-3 UNDER THEIR OWN FEIN TO REPORT THE COMPENSATION OF ALL CREDIT UNION EMPLOYEES. THE CREDIT UNION IS NONETHELESS REPORTING THE COMPENSATION OF SAID EMPLOYEES ON PART VII AS THEY HAVE THE STATUS OF EMPLOYEES OF THE FILING ORGANIZATION UNDER COMMON LAW RULES. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION ESTABLISHED REGULAR SHARES PAR VALUE PER SHARE OF $0, ADDED A NEW SECTION ALLOWING THE BOARD OF DIRECTORS TO APPOINT AN AUDIT COMMITTEE IN LIEU OF A SUPERVISORY COMMITTEE TO CARRY OUT ALL DUTIES AND RESPONSIBILITIES OF THE SUPERVISORY COMMITTEE AS SPECIFIED IN THE BYLAWS AND APPLICABLE LAWS, AND ADDED A NEW ARTICLE INDEMNIFYING CURRENT AND FORMER DIRECTORS, OFFICERS, AND EMPLOYEES AND APPOINTED OR ELECTED OFFICIALS AND VOLUNTEERS. FORM 990, PART VI, SECTION A, LINE 6 RED ROCKS FEDERAL CREDIT UNION WAS ESTABLISHED IN 1979 TO SERVE THE EMPLOYEES OF LOCKHEED MARTIN. RED ROCKS' FIELD OF MEMBERSHIP WAS EXPANDED IN 1994 TO SERVE THOSE THAT LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN DOUGLAS COUNTY, COLORADO. AS A RESULT OF A CONVERSION TO A STATE-CHARTERED CREDIT UNION IN AUGUST 2006, THE CREDIT UNION'S NAME CHANGED SLIGHTLY TO RED ROCKS CREDIT UNION. IN 2013, ARAPAHOE AND JEFFERSON COUNTIES, COLORADO WERE ADDED TO THE FIELD OF MEMBERSHIP. IN 2019 THE COMMUNITY IMPACT FUND WAS ADDED TO THE FIELD OF MEMBERSHIP. IN 2022 THE MADE TO IMPACT FOUNDATION WAS ADDED TO THE FIELD OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERS ELECT THE MEMBERS OF THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION A, LINE 7B ANY PROPOSED MERGER MUST BE APPROVED BY THE MAJORITY OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PROVIDES THE REQUIRED INFORMATION TO THE CREDIT UNION'S INDEPENDENT CPA FIRM FOR COMPLETION OF THE FORM 990. THE FORM 990 IS THEN REVIEWED AND APPROVED BY THE CEO AND CFO BEFORE IT IS FILED. AN ELECTRONIC COPY OF THE COMPLETED FORM 990 IS UPLOADED INTO THE RED ROCKS BOARD PORTAL FOR THEIR REVIEW AT ANY TIME. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST DISCLOSURE STATEMENT IS SIGNED, RECEIVED AND FILED FROM EACH BOARD MEMBER ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE CEO SETS OTHER OFFICER COMPENSATION. ALL COMPENSATION IS BASED UPON INDUSTRY COMPARISON DATA RECEIVED AND REVIEWED EACH YEAR. THE CEO'S COMPENSATION IS DETERMINED BY THE COMPENSATION COMMITTEE OF THE BOARD. THE COMPENSATION COMMITTEE COMPLETES A THOROUGH EVALUATION CONDUCTED BY A THIRD-PARTY RESOURCE AND WORKS WITH THE CONSULTANT TO SET THE CEO'S BASE PAY AND INCENTIVE PLAN BASED ON PERFORMANCE, EXPERIENCE, SIZE, MARKET DATA, AND FINANCIAL HEALTH OF THE INSTITUTION. FORM 990, PART VI, SECTION C, LINE 19 CPA CERTIFIED FINANCIAL STATEMENTS ARE AVAILABLE ELECTRONICALLY VIA THE CREDIT UNION'S WEBSITE. OTHER DOCUMENTS WOULD REQUIRE A WRITTEN REQUEST AND DETERMINATION REGARDING THE RELEASE OF DATA. FORM 990, PART XI, LINE 9: ADOPTION OF CECL STANDARD -1,942,885. MADE TO IMPACT FOUNDATION 8195 SOUTHPARK LANE LITTLETON CO 80120 872019060 TO PROVIDE HARDSHIP GRANTS WITH DIRECT FINANCIAL NEEDS CO 501(C)(3) LINE 7 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 MADE TO IMPACT FOUNDATION B 65725 CASH