Weld Community Credit Union

Report of the Board of Directors

2019 Recap

Thank you all for being such loyal members of Weld Schools Credit Union, which we now call Weld Community Credit Union.  Last year was quite a year of change and opportunity.

During 2019, we:

  • Grew by 126 members.
  • Reached deeper into community involvement with increased donations that feed the hungry and shelter the homeless. Every new member and every new loan helps the most vulnerable, and so please keep the referrals coming.
  • Highlighted where our hearts have been all along, by becoming Weld Community Credit Union.
    • This was a change in name only, not a merger and with no change in member ownership.
  • Started accepting deposits on the mobile application.
  • Started “instant issue” services, where we can issue a new debit card for you right at the branch, instead of waiting for a new one to arrive in the mail.
  • Continued improvements in our IT infrastructure to better serve you.
  • Increased donations to classrooms through the Jeri Cranwell Education Assistance Fund
  • Increased our outreach and became more active on platforms such as Facebook and Instagram

“People Helping People” is and continues to be our guiding philosophy.  It means we work to help each individual member in the best way possible.  It also means we seek uniqueness over other financial institutions by focusing on what is best for everyone instead of what is best for stockholders.  There are no stockholders, and you are the owners of this credit union.  “People helping people” also means we are focused on needs in the community, and has been our tradition since 1936. As members of Weld Community Credit Union, you enjoy some of the lowest loan rates anywhere, so continue to spread the word!

On behalf of the Board of Directors, I want to let you know of our sincere gratitude to all the staff and volunteers for their hard work and dedication to serving the members, while improving lives in the community.

Bruce Gorze, Chair
Board of Directors

Report of the Treasurer

At the close of business on December 31, 2019 Weld Community Credit Union stood at 5,938 members:

  • 2,920 loans totaling $46,817,813                       {12% increase from 12/31/2018}
  • 11,380 share & CD accounts $ 71,290,361        {-0% change from 12/31/2018}
  • total assets of $79,575,147                                  {1% increase from 12/31/2018}

We granted 912 new loans during the year totaling $23,305,231 and continue to maintain a well-capitalized reserve, which at 12/31/19 was 7.8 million dollars, or 9.86 percent of total assets.               

These results of growth and stability come from your continued support and use of our many services.  I want to extend a big thank you, and congratulations, to each member-owner for making Weld Community Credit Union a special financial institution.  You are what makes us special.

Jerry C. Clark, Treasurer
Board of Directors

Income Statement

Operating Income 
Income from Loans$2,092,460
Income from Investments$622,737
Fees/Other Operational Income$744,192
Total Gross Income$3,459,389
Operating Expenses$2,593,481
Dividends Paid on Deposits$15,238
Provision for Loan Loss$34,260
Non-Operating (Gains) or Losses$(117)
Total Net Income$816,527

Statement of Financial Condition

Less: Allowance for future loss$(281,216)
Cash & Cash Equivalents$572,380
Prepaid & Deferred Expenses$147,351
Fixed Assets$1,023,736
Other Assets$879,444
Total Assets$79,575,147
Liabilities, Shares, & Equity 
Total Liabilities, Shares, & Equity$79,575,147

Report of the Supervisory Committee

In credit unions, the ‘Supervisory Committee’ is the group who serves as the audit committee. In 2019, we employed the services of Waypoint Auditing to perform audits and review internal controls. The committee oversaw results of these audits throughout the year and worked closely with the auditors to plan additional audit activities.

During the year, the auditors found no irregularities and were complimentary of the Credit Union’s excellent record keeping and practices. Additionally, in 2019 the State regulator: Colorado Division of Financial Services, completed a routine and in-depth examination of the Credit Union’s safety and soundness.  Weld Community (Schools) Credit Union continued to receive good ratings in key risk areas reviewed including capital reserve strength.

Bauer Financial, Inc., an independent rating service, reviews the financial performance of banks and credit unions in the United States, and the committee is pleased to report a 5-star rating from Bauer based on 12/31/2019 financial data.

Ken Blehm, Chair
Supervisory Committee

Minutes – February 23, 2019

Weld Schools Credit Union Annual Membership Meeting Minutes

The 83rd Annual Membership Meeting of Weld Schools Credit Union was held at the Greeley Country Club on February 23, 2019. After an invocation by Joan Lind, lunch was served at 11:20 a.m.

Board of Directors members Joan Lind, Bruce Gorze (Chair), Ben Rainbolt (Secretary), Bev Menke, Jerry Clark (Treasurer), and Eric Parrish were in attendance, as well as Officers Dave Brown (President), Debbie Nixon (VP Operations), and Brad Hanna (VPFinance).

Chair Bruce Gorze determined a quorum was present called the business meeting to order at 12:09 p.m.

Gorze introduced Board members, their guests, and Weld Schools Credit Union Officers, then presented the report of the Board of Directors.

Secretary Rainbolt presented the minutes from the February 24, 2018 Annual Meeting and Gorze asked for a motion to accept the minutes. Barbara Blehm moved and Darlin Krause seconded the motion. The motion carried.

Supervisory Committee Chairperson Ken Blehm presented the Supervisory Committee report and Gorze returned to the podium to ask for a motion to accept the report. Richard Bejarano moved and Jerry Nelson seconded the motion. The motion carried.

Treasurer Jerry Clark presented the Treasurer’s report. Gorze returned to the podium to ask for a motion to accept the report. Dixie Jorgensen moved and Kay Backstrum seconded the motion. The motion carried.

Nominating Committee Chair Ben Rainbolt presented the slate of candidates running for terms on the Board of Directors and Supervisory Committee.

For the Board of Directors:
Joan Lind – three year term
William “Eric” Parrish – three year term

Supervisory Committee:
Barb Lengel – three year term

Gorze returned to the podium and asked for nominations from the floor three times.

Hearing no nominations, he asked for a motion to accept the slate of candidates for the Board and Supervisory Committee, to be accepted as presented and a unanimous ballot be cast. Marylou Ruff moved and Darlin Krause seconded the motion. The motion carried.

President Dave Brown began his presentation by introducing the staff and recognizing volunteers. He spoke about the community charter, which now allows anyone who lives or works in Weld County to apply for membership, and how the Charter fits in with our mission, code of ethics, and ongoing community outreach. He reminded members of the importance of letting friends and family know they are eligible to join. Brown made an announcement to watch out for fraud and beware of anyone asking for your account number, and to ask us if you ever have doubts about a request.

Brown turned the presentation over to Jolene Yates for a detailed presentation about community involvement and charity outreach of the credit union and its staff.

Gorze returned to the podium and declared “With no further business to come before this meeting, the Annual Meeting is adjourned.” The Member’s Annual Meeting thereby adjourned at 1:08 p.m.

Marketing Director Jolene Yates then coordinated door prize giveaways and other gifts with help from WSCU employees Katie Schmunk, and Kristen Campbell. Special gifts were given to: Juils Jorgensen , the longest term member in attendance, and Robert Perrich, the newest member in attendance.

The following cash prizes were won by random drawing for members:
$25 Wendy Griffis, Pauline Delgado, David Sauter and Ramona Penaflor.
$50 Brian Halla, Larry Spohn, and Cynthia Silva.
$83 Juils Jorgensen, Francis Shea, Julie Sharp, and Mary Kippes, and a
Waterpic Pet Wand by Dawn Morrison

After the meeting, an Idea Card was randomly pulled from the box, and Abigail Nelson won 1- $50 VISA card.

Community Involvement

We continued to focus on our Community in 2019 by

  • attending Greeley Area Chamber of Commerce sponsored gatherings to talk with people about our low loan rates and the value of being member owned.
  • attending events in the Community: Stone Soup for Weld Food Bank; Chamber Annual Meeting, Success Foundation Breakfast, Comedy for a Cause for the Greeley Transitional House, Walk to end Alzheimer, and Walk for American Cancer Society.
  • having a booth at public events: Home and Garden Show, Children’s Festival, District 6 School Kickoff, and University of Northern Colorado sporting events.
  • attending any School District Orientation/meeting in which we are invited.
  • supporting Art Shows and sales from the talented artists at Envision.
  • changing our name to Weld Community Credit Union: New logo, new website, new nametags, new signage, new forms, new brochures, new rugs, new business cards, new folders, new debit cards, and new credit cards.
  • paying to wear jeans, we send a check to non-profits in Weld County 12 times a year!
  • hosting events: Member Appreciation Day, Annual Meeting, Shred Event, Cookies with Santa and Mrs. Claus.
  • providing grants to Educators for projects through the Jeri Cranwell Education Assistance Fund, over $127,000.00 has been given back the Weld County education community.

CEO Report 2020

As Bruce mentioned in his comments above, last year was a substantial year of progress. We took big steps forward in outreach and community involvement, and I want to point out that all of this came from the hard work of our staff, and the dedication of our volunteers serving on the Board and Supervisory Committees. Please let them know how much you appreciate them when you get the opportunity. These are truly great people to work with, and none of the progress we have seen could have happened without all of that work effort and confidence to push forward into changes with forward thinking.

While we had more improvements planned for 2020, Coronavirus shifted our primary focus onto keeping members and employees safe and healthy. This required services to move to the drive-up, internet and phone; and, it caused us not to see you at the member appreciation day, shred event, and annual meeting. We have missed you, and that only strengthens our commitment. The social side of our work is a key part of what drives us and leaves us dreaming about the future.

Thank you for being a member-owner of this great credit union! Stay safe and healthy.

Dave Brown, CEO 
Weld Community
Credit Union

Ballot – vote here!

After careful consideration, and to ensure the health and wellbeing of our employees, members and communities we serve, the lobby is closed to walk-in, drive-up is still open effective March 20th 2020.  You may talk with us at 970-330-9728 Monday through Friday, 9:00 am to 5:15 pm. Please be patient with our staff who are working hard to serve everyone in these extraordinary circumstances. Call wait times will be longer than usual as more people call in, and so we thank you in advance for helping us to cheerfully serve you.

Teller Services

Our drive-up remains open for Teller Services Monday-Friday 7am to 5:30pm and 9am to 12pm Saturdays

Account Services

Account Service remains available Monday-Friday 9 to 5:30 pm, at 970-330-9728, in the Drive-Up, or by email admin@weldccu.com


We are still busy lending!  For loans you may talk with a loan officer at 970-330-9728 Monday through Friday, 9:00 am to 5:15 pm, start the process online at www.weldccu.com, or email admin@weldccu.com

Mobile Banking, Online Banking, and ATM network

ATM, Mobile App, and Online Banking systems are available 24 hours per day. Last year we added mobile deposit to the mobile app for your convenience. Now is the perfect time to download the free app from the App Store or Goggle Play Store, or enroll in online banking. Please update your email address and phone number with us if either has changed.

Telephone Teller

For account information, you may call DataCheck at 877-946-9728 around the clock

Members Annual Meeting, Shred Event, and Members Appreciation Day

Coronavirus led us to cancel the Members Annual Meeting and use an online method.  We also had to cancel the Shred Event and Members Appreciation Day, but we still would like to get together at some point in the fall.  Please watch the monthly newsletter for announcements, in case we are able to do something this fall.

Watch out for Fraud

As a reminder, under no circumstance will we call you and ask for your social security number, user name, password or PIN. Be aware that criminals may use this time to scam people. If you receive a call from anyone asking for this information, even if it appears to be from our credit union, do not provide it. Criminals are able to make our phone number appear on your caller ID even though it is not us calling. 

If you call us; however, then we will ask account identifying information.

Alternately, if you receive a text, email or phone call from our fraud center asking to verify purchases, please do respond.  They will simply ask you ‘yes’ or ‘no’ to verify purchases, and in doing you so, you will allow your card to remain active. You will know it is our Fraud center contacting you because they won’t ask for information beyond verifying ‘yes’ or ‘no’ to transactions, and you should not provide any information beyond that.

Fully Insured Funds and Highly Rated

Rest assured knowing your accounts at Weld Community Credit Union are safe and secure.  Not only are we Federally insured by the National Credit Union Administration (NCUA) up to $250,000, we also have deposit insurance with Excess Share Insurance (ESI) that increases account deposit insurance coverage to double the NCUA limit, resulting in combined deposit insurance up to $500,000.  Weld Community Credit Union is financially strong, and we are recognized with a five-star rating by Bauer Financial .

Thank you for being a member and rest assured we are monitoring and adapting to this situation as needed. We will take every measure to limit the impact on our employees, members and help stop the spread of Coronavirus in the community.


Dave Brown

Weld Community
Credit Union