Foothills Credit Union
- Assets
- $143.0m
- Revenue
- $4.9m
- Investments
- $26.0m
- Employees
- 34
- Location
- Lakewood, CO
- Founding
- 08/1968
- Data as of
- 12/2021
- EIN
- 84-0384061
Organization Overview
Foothills Credit Union is located in Lakewood, CO. The organization was established in 1968. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Foothills Credit Union employed 34 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Foothills Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Foothills Credit Union generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATING INDIVIDUALS, EMPOWERING FAMILIES AND ENRICHING COMMUNITIES WITH EXCITING FINANCIAL SOLUTIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBER OF THE CREDIT UNION. OVER 10,250 MEMBERS SERVED. THIS INCLUDES BOTH DEPOSIT AND LENDING PROGRAMS.
PROVIDING OVER $92 MILLION IN LOANS TO OUR MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Mcneil President | Officer | 40 | $219,373 |
Tim Cattau Chief Lending Officer | Officer | 40 | $113,674 |
Mallory Fischbach Chief Financial Officer | Officer | 40 | $111,834 |
Matthew Logan Chief Marketing Officer | Officer | 40 | $100,015 |
Jon Groerich Vice-Chair | OfficerTrustee | 1 | $0 |
Dan Mccasky Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Platte River Networks It Consultant | 12/30/21 | $196,807 |
Computer Marketing Corporation Data Processor | 12/30/21 | $276,054 |
Cu Cooperative Systems Card And Shared Bran | 12/30/21 | $277,353 |
Financial Construction Services Construction | 12/30/21 | $4,408,743 |
Lumen Telecom | 12/30/21 | $114,723 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,746,568 |
| Investment income | $156,807 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,903,875 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,170 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $587,794 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $993,990 |
| Pension plan accruals and contributions | $21,501 |
| Other employee benefits | $147,656 |
| Payroll taxes | $110,595 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,449 |
| Fees for services: Accounting | $48,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $453 |
| Fees for services: Other | $252,116 |
| Advertising and promotion | $164,384 |
| Office expenses | $457,069 |
| Information technology | $48,863 |
| Royalties | $0 |
| Occupancy | $255,875 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,440 |
| Interest | $3 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $357,412 |
| Insurance | $47,040 |
| All other expenses | $0 |
| Total functional expenses | $4,797,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $794,685 |
| Savings and temporary cash investments | $5,023,367 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $1,774,053 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $93,115,213 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $14,554,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $25,950,617 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,757,081 |
| Total assets | $142,969,673 |
| Accounts payable and accrued expenses | $1,110,139 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $129,514,617 |
| Total liabilities | $130,624,756 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,442,883 |
| Retained earnings, endowment, accumulated income, or other funds | $10,902,034 |
| Total liabilities and net assets/fund balances | $142,969,673 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sooper Credit Union Arvada, CO | $541,418,878 | $25,522,076 |
Partner Colorado Credit Union Arvada, CO | $575,170,940 | $26,663,634 |
Mid American Credit Union Wichita, KS | $369,701,114 | $22,939,489 |
Red Rocks Credit Union Littleton, CO | $358,530,092 | $14,106,899 |
Credit Unions Chartered In The State Of Utah Salt Lake City, UT | $951,799,319 | $26,688,860 |
Allegiance Credit Union Oklahoma City, OK | $376,025,043 | $16,187,363 |
Oklahoma Educators Credit Union Oklahoma City, OK | $242,039,953 | $16,355,869 |
Aventa Credit Union Colorado Springs, CO | $264,169,507 | $14,432,586 |
Credit Unions Chartered In The State Of Colorado Golden, CO | $372,330,766 | $14,599,504 |
Colorado Credit Union Littleton, CO | $304,566,032 | $14,640,813 |
Credit Unions In The State Of New Mexico Santa Fe, NM | $252,448,158 | $14,584,670 |
Deer Valley Credit Union Phoenix, AZ | $248,381,939 | $11,691,961 |