Boulder Dam Credit Union

Boulder Dam Credit Union Overview

Boulder Dam Credit Union is located in Boulder City, NV. The organization was established in 1980. 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 12/2018, Boulder Dam Credit Union employed 48 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Boulder Dam 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, Boulder Dam Credit Union generated $25.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $18.6m during the year ending 12/2019. While expenses have increased by 4.5% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

WE ARE PEOPLE HELPING PEOPLE BUILD THEIR FUTURES AND REALIZE THEIR DREAMS BY PROVIDING SHARE AND LOAN ACCOUNTS AND OTHER FINANCIAL SERVICES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ONE OF THE CREDIT UNION'S TWO PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES REAL ESTATE, AUTO, BOAT, RV, AND SIGNATURE AND VISA LOANS TO ELIGIBLE MEMBERS. AT 12/31/2018, THE CREDIT UNION HAD 6,230 LOANS WITH A BALANCE OF APPROXIMATELY $226.424 MILLION AND 2,737 VISA CARDS WITH A BALANCE OF APPROXIMATELY $2.553 MILLION.


THE SECOND MAIN SERVICE THAT THE CREDIT UNION OFFERS IS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. ELIGIBILITY REQUIRES THAT A PERSON LIVE OR WORK IN BOULDER CITY, NEVADA. DUE TO THE EXCEPTIONAL SERVICE LEVEL PROVIDED BY THE CREDIT UNION, APPROXIMATELY 90% OF ELIGIBLE MEMBERS ARE MEMBER OF THE CREDIT UNION. ONCE AGAIN, THE CREDIT UNION DOES NOT CHARGE FEES FOR DEPOSIT ACCOUNTS; OTHER THAN PUNITIVE FEES FOR OVERDRAFTS AND INSUFFICIENT FUND ITEMS. AT 12/31/2018 THE CREDIT UNION HAD 20,844 MEMBERS WITH 38,049 ACCOUNTS TOTALING $557,381,549 IN SHARE DEPOSITS.


AN ANCILLARY PRODUCT OFFERED BY THE CREDIT UNION IS THE ELECTRONIC DELIVERY OF SERVICES. THE CREDIT UNION OFFERS DEBIT CARDS, VISA CREDIT CARDS, ATM ACCESS, PHONE ACCOUNT ACCESS AND INTERNET ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. ADDITIONALLY, THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK, WHICH ENABLES MEMBER TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. APPROXIMATELY 60% OF OUR MEMBERS UTILIZE SOME TYPE OF ELECTRONIC DELIVERY SERVICE.


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Boulder Dam Credit Union Board, Officers & Key Employees

Name (title)Compensation
Eric Estes
President/ceo
$393,382
Patricia Klinger
Operations Assistant
$245,426
Steele Hendrix
Exec VP
$224,703
Ie-Chen Cheng
CFO
$196,142
Mary Beth Clift
Teller Supervisor
$132,426
Linda Eugster
Cards Services Supervisor
$111,913

Boulder Dam Credit Union Vendors

Vendor Name (Service)Compensation
Fiserv
Data Processing
$765,396
Urbanjungle Contractors
Atm Site Construction
$245,001
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $9,214,457
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $20,054
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $24,979,127

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