Canvas Credit Union

Organization Overview

Canvas Credit Union is located in Lone Tree, 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, Canvas Credit Union employed 1,110 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Canvas 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, Canvas Credit Union generated $198.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $143.0m during the year ending 12/2021. While expenses have increased by 11.0% 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.

Since 2014, Canvas Credit Union has awarded 49 individual grants totaling $1,517,550. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CANVAS CREDIT UNION WILL STRIVE TO HELP INDIVIDUALS AND FAMILIES MAKE BETTER DECISIONS AND GROW STRONGER FINANCIALLY. WE WILL PROVIDE SIMPLE AND RELEVANT PRODUCTS AND SERVICES AT A CONSISTENTLY HONEST VALUE. WE WILL HELP MEMBERS AFFORD LIFE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION IS OWNED BY APPROXIMATELY 269,000 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, SHARED BRANCHING SERVICES, DEPOSIT/TRANSACTIONAL SERVICES, MORTGAGE LENDING, COMMERCIAL LENDING, HOME BANKING, BILL PAYMENT AND OTHER FINANCIAL SERVICES.


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Board, Officers & Key Employees

Name (title)Compensation
Darryl Marksberry
CEO
$1,040,608
Colleen Knoll
CFO
$620,185
David Pierce
Svp/cio
$547,120
Chad Shane
Chief Lending Off
$502,945
Stephen Ferrero
Chief Comm Eng Off
$451,257
Tansley Stearns
C P&s Officer
$445,828

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cu Cooperative Systems Inc
Card/atm Services
$5,506,041
Pro Found Recovery Solutions
Asset Recovery
$1,594,631
Duet Media
Advertising
$2,280,006
Precision Contractors
Construction
$1,478,106
Financial Construction Services
Construction
$1,400,834
View All Vendors

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$184,943,200
Investment income $2,088,884
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,639,791
Net Gain/Loss on Asset Sales $8,715,179
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $198,159,456

Grants Awarded

Over the last fiscal year, Canvas Credit Union has awarded $567,315 in support to 14 organizations.

Grant RecipientAmount

PLAYFLY HOLDINGS LLC

PURPOSE: SPONSORSHIP

$122,500

OUTFRONT MEDIA

PURPOSE: SPONSORSHIP

$122,500

AMERICAN RED CROSS

PURPOSE: DONATION

$100,000

CANVAS FOUNDATION

Org PageRecipient Profile

Lone Tree, CO

PURPOSE: DONATION

$70,290

COLORADO STATE UNIVERSITY

PURPOSE: SPONSORSHIP

$55,542

SCRIPPS MEDIA INC

PURPOSE: SPONSORSHIP

$20,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Canvas Credit Union has recieved totaling $5,000.

Awarding OrganizationAmount
Mountain West Credit Union Foundation

Denver, CO

PURPOSE: LEADERSHIP IN ACTION GRANT

$5,000
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
Community America Credit Union
Lenexa, KS
$232,446,492
Bellco Credit Union
Greenwood Village, CO
$233,085,363
Canvas Credit Union
Lone Tree, CO
$198,159,456
Elevations Credit Union
Boulder, CO
$154,912,251
One Az Credit Union
Phoenix, AZ
$105,409,190
Ttcu Federal Credit Union
Tulsa, OK
$123,227,030
Vantage West Credit Union
Tucson, AZ
$106,118,675
Westerra Credit Union
Denver, CO
$60,087,395
Truwest Credit Union
Tempe, AZ
$64,029,017
Credit Union Of America
Wichita, KS
$72,395,937
Credit Unions Chartered In The State Of Colorado
Broomfield, CO
$57,634,628
Meritrust Credit Union
Wichita, KS
$48,306,293

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