Elevations Credit Union is located in Boulder, 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 12/2019, Elevations Credit Union employed 673 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Elevations 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 12/2019, Elevations Credit Union generated $149.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $121.8m during the year ending 12/2019. While expenses have increased by 11.0% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
WE PROVIDE SOLUTIONS FOR A BETTER LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELEVATIONS CREDIT UNION SERVES ADAMS, ARAPAHOE, BOULDER, BROOMFIELD, DENVER, DOUGLAS, JEFFERSON, LARIMER AND WELD COUNTIES. THE CREDIT UNION OFFERS A FULL ARRAY OF PRODUCTS AND SERVICES, INCLUDING DEPOSITORY AND LOAN PRODUCTS, ATM/DEBIT PROGRAM, FINANCIAL EDUCATION, INSURANCE AND INVESTMENT SALES. WE ENDED THE YEAR WITH 143,850 MEMBERS AND 176,692 SHARE ACCOUNTS. THERE WERE 15,580 LOANS GRANTED TOTALING $1,786,105,404. ELEVATIONS CURRENTLY OFFERS 13 BRANCH LOCATIONS AND A WIDE ARRAY OF REMOTE OPTIONS THROUGH OUR COOPERATION WITH THE COOP ATM NETWORK, CUSN AND ONLINE BANKING OFFERINGS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Cameron White-Ford Mortgage Sales Manager | 40 | $1,053,706 | |
Gerry Agnes President/ceo | Officer | 40 | $964,616 |
Elizabeth Million VP Mortgage Sales | 40 | $846,530 | |
Todd Peyok VP Commercial Lending | 40 | $813,426 | |
Aaron Staufer Mortgage Loan Originator | 40 | $778,950 | |
Lauri Larson Mortgage Loan Originator | 40 | $596,715 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Cu Cooperative Systems Inc Card Processing | 12/30/19 | $2,341,798 |
Dovenmuehle (Dmi) Mortgage Subservicing | 12/30/19 | $2,188,700 |
Neenan Company Llp Construction | 12/30/19 | $7,315,121 |
Ncr Corporation Online Banking | 12/30/19 | $1,932,599 |
Augeo Consumer Engagement Services Credit Card Rewards | 12/30/19 | $1,232,935 |
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 | $130,738,518 |
Investment income | $8,184,076 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $4,524,177 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $149,375,954 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $539,489 |
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. | $5,770,714 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $50,761,848 |
Pension plan accruals and contributions | $1,511,821 |
Other employee benefits | $4,978,366 |
Payroll taxes | $3,692,369 |
Fees for services: Management | $0 |
Fees for services: Legal | $234,697 |
Fees for services: Accounting | $427,454 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $4,175,441 |
Advertising and promotion | $5,522,423 |
Office expenses | $4,817,152 |
Information technology | $6,957,773 |
Royalties | $0 |
Occupancy | $5,072,929 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $981,052 |
Interest | $3,740,772 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $6,553,012 |
Insurance | $554,665 |
All other expenses | $2,445,819 |
Total functional expenses | $121,822,203 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $13,770,630 |
Savings and temporary cash investments | $248,141,584 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $1,917,262 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,575,888,517 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $2,626,190 |
Net Land, buildings, and equipment | $66,594,016 |
Investments—publicly traded securities | $0 |
Investments—other securities | $158,118,250 |
Investments—program-related | $0 |
Intangible assets | $5,652,582 |
Other assets | $140,802,705 |
Total assets | $2,213,511,736 |
Accounts payable and accrued expenses | $43,494,674 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $40,332,846 |
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 | $1,880,547,157 |
Total liabilities | $1,964,374,677 |
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 | $11,879,721 |
Retained earnings, endowment, accumulated income, or other funds | $237,257,338 |
Total liabilities and net assets/fund balances | $2,213,511,736 |
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One Az Credit Union Phoenix, AZ | $2,608,126,699 | $106,232,415 |
Elevations Credit Union Boulder, CO | $2,213,511,736 | $149,375,954 |
Vantage West Credit Union Tucson, AZ | $2,015,563,365 | $118,310,063 |
Ttcu Federal Credit Union Tulsa, OK | $2,019,744,867 | $107,654,707 |
Meritrust Credit Union Wichita, KS | $1,215,121,922 | $75,229,939 |
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Credit Unions Chartered In The State Of Colorado Boulder, CO | $1,241,180,693 | $60,792,013 |