E N D U R I N G V I TA L I T Y 2 0 2 1 A N N U A L I M PA CT R E P O RT
TABLE OF CONTENTS
2 | Blue Federal Credit Union - Annual Impact Report
04
LEADERSHIP OVERVIEW
06
LASTING VITALITY
09
COMMUNITY CONNECTOR
10
COMMUNITY VITALITY
13
EDUCATIONAL VITALITY
14
CELEBRATED VITALITY
16
FOUNDATIONAL VITALITY
18
LEADERSHIP
22
FINANCIAL VITALITY
26
LOCATIONS
2021 SNAPSHOT
$1 . 62 BILLION TOTAL ASSETS
UP 12.75% FROM 2020
109 , 778
NUMBER OF MEMBERS BLUE SERVES AS A LIFELONG CHAMPION
UP 10.9% FROM 2020
$9 . 5 MILLION
305 MORTGAGES
$430 , 796
9 . 7 MILLION
IN DIVIDENDS RETURNED TO MEMBERS
SAVED BY MEMBERS USING SMART CENTS
REALIZING MEMBER’S HOME OWNERSHIP DREAMS
ONLINE BANKING LOG-INS
Blue Federal Credit Union - Annual Impact Report | 3
LEADERSHIP OVERVIEW Financial institutions rarely see the connection between money, life, and community like Blue. Which is why 2021 was confirmation of Blue’s enduring vitality as we overcame the challenges of an everchanging world and continued to forge ahead creating pathways to realize our members’ possibilities. We can proudly say there has never been a better time to be a member of Blue. Celebrating 70 years in business in June was a milestone that will not soon be forgotten. The occasion was a time for both celebration and recollection as we welcomed Blue’s amazing members to the beautiful, award-winning World Headquarters in Cheyenne to commemorate this significant milestone in our organization’s history and growth. As a community builder and creator of authentic connections,
In order for people to truly feel
we wasted no time getting right back to work on our True
fulfilled, their personal lives and
Blue 2030 Master Plan. The plan is centered around realizing
communities need to be thriving
our members possibilities and Blue’s role in their journey.
too. That is why we are thrilled as
My Money, My Life, and My Community are the three strategic
we look toward an even stronger
pillars which deliver on our purpose.
future for all our members. We will continue to be a one-of-a-kind
On behalf of the Board of Directors and all our employees,
credit union that puts our members,
we cannot thank you enough for your membership and the
employees, and community at the
opportunity to serve as your lifelong champion.
center of all we do.
Stephanie Teubner
President & Chief Executive Office
4 | Blue Federal Credit Union - Annual Impact Report
OUR PURPOSE
OUR MISSION
OUR VALUES
Members deserve a community
To discover pathways to
Boundless Optimism,
built around authentic connections
realize your possibilities
Unwavering Confidence, Uniquely Us, and Over The Top
Blue Federal Credit Union - Annual Impact Report | 5
LASTING VITALITY Most people have a hard time finding a credit union with which they can build an authentic connection. At Blue we have been creating community connections across generations for 70 years and in June 2021 we celebrated this milestone for an entire week. Each of our branches held their own celebrations, however the main commemoration took place at our new World Headquarters building. The festivities included a car show, bike-to-work stop, member lunch, lots of giveaways and the dedication of a time capsule. In addition, Cheyenne Mayor Patrick Collins proclaimed Wednesday, June 23, 2021, as Blue Federal Credit Union Day. We can’t wait for the next 70 years as we continue to serve as the lifelong champion of our members, one realized dream at a time!
6 | Blue Federal Credit Union - Annual Impact Report
COMMUNITYCONNECTOR As a creator of authentic connections, there is only one place suited to host a world class event - Blue Community Events Center at Blue World Headquarters. A unique and modern event space, with timeless mountain elegance, our Events Center is the premier event space for a great event in Wyoming’s capital city. Featuring nearly 7,000 square feet, state of the art audio visual equipment, an outdoor plaza, and luxurious gardens – our Events Center is the place to see and be seen.
15 , 000+
COMMUNITY MEMBERS ATTENDED EVENTS IN 2021
120
TOTAL EVENTS HOSTED IN 2021
I recently held a small event at
We had an incredible experience
Blue Events Center, and I cannot
holding our event at the
recommend Blue and their
Events Center at Blue World
wonderful staff enough.
Headquarters. The space is exactly
j
- anelle R.
what we needed and the staff was there every step of the way to assist with all of our needs.
- Aaron R.
Beautiful venue with World Class Service! Our conference attendees loved the open, clean, well-lit space, and the team at Blue made planning and hosting the event at their location a breeze.
- Angela S.
The event space is top notch. One of the most welcoming and luxurious spaces in town.
-Dom S.
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COMMUNITYVITALITY $246 , 000
TOTAL CREDIT UNION GIVING IN 2021
3 , 670
BLUE EMPLOYEE VOLUNTEER HOURS
UP 32% FROM 2020
$50 , 286
RAISED AT ANNUAL MEMORIAL BRUCE BRADY GOLF SERIES
103
COMMUNITY SPONSORSHIPS
(LISTED ON PAGE 12)
10 | Blue Federal Credit Union - Annual Impact Report
Realities For Children believes in the power of community collaboration to make our world a better place for children in need. We are proud of our longstanding partnership with Blue Federal Credit Union as their investment in the community and ‘Doing Good’ is REALITIES FOR CHILDREN SPONSORSHIP HIGHLIGHT
truly part of their culture and what
When Blue first opened its Fort Collins branch in 2012, we wanted to show our support in a
they are all about.
big way. After searching for the best organization to sponsor, we chose Realities for Children (RFC). RFC is a terrific organization that stands in the gap for abused, neglected, and at-risk youth throughout the community. Their mission of providing for the unmet and ongoing needs
-Craig Secher
President and Founder, Realities for Children
of children in Northern Colorado closely aligns with our purpose and values. We are honored to support this amazing organization and proud to continue our partnership almost a decade later. Blue Federal Credit Union - Annual Impact Report | 11
2021 COMMUNITY SPONSORSHIPS
01
American Hellenic Educational
02 03 04 05 06 07 08
AM Vets
09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Progressive Association Aubrianna Extreme Softball Bain Elementary PTO Better Business Bureau Black Dog Animal Rescue Blue FCU Softball Team Boys & Girls Club of Larimer County Brendan Dunigan Memorial Foundation Bullying Recovery Resource Center Burns Lions Club Canvas Credit Union Foundation Canyon Concert Ballet CASA of Laramie County Coal Creek Meals on Wheels Centennial Lending a Hand Foundation Cheyenne Frontier Days Cheyenne Airport Golf Course Cheyenne Chamber Foundation Cheyenne Day of Giving Cheyenne EdgeFest Cheyenne Extreme Softball Cheyenne Family YMCA Cheyenne Frontier Lions Club Cheyenne Greenway Foundation
26
Cheyenne Junior
27 28 29 30 31 32 33 34 35 36
Cheyenne Kiwanis Foundation
37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52
League Baseball Cheyenne LEADS Cheyenne Rec Division Cheyenne Schools Foundation Cheyenne Sunrise Rotary Club Cheyenne Symphony Orchestra City of Cheyenne Recreation Coal Creek Meals on Wheels Cognitive Behavioral Theater Colorado Farmers Market Association Colorado Music Festival Comea Shelter Cowboy Joe Club Crohns & Colitis Foundation Disabled Resource Services Erie High School F.E. Warren AFB Flying Heels Arena Association FoCo Café Fort Collins Habitat for Humanity Fraser River Valley Lion’s Club Friends of Broomfield Friends of Foster Families Grace For 2 Brothers Greater Cheyenne Chamber of Commerce Hearts & Horses
12 | Blue Federal Credit Union - Annual Impact Report
53 54 55
Kiwanis of Broomfield
56 57 58
Laramie County Fair
59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78
Kiwanis of Cheyenne Kristi Visocky Memorial Golf Tournament Laramie County Health Dept Laramie County Library Foundation Laramie County Sheriff’s Dept Laramie Jubilee Days Larimer County Food Bank Lights on Bright Middle Park Fair & Rodeo Mule Deer Foundation Muley Fanatic Foundation Museum of Art Fort Collins Mountain West Credit Union Association Foundation Old West Museum Operation Shoebox Post 6 Baseball Ralston High School Realities for Children Rocky Mountain Elk Foundation Salvation Army Shepardson Elementary School South High School Safehouse Progressive Alliance for Nonviolence SpargetoberFest Foundation
79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103
Sproutin Up Corp. St Baldrick’s Foundation St Mary’s School Stadley Lake High School Sunrise Lion’s Club The Butterfly Foundation The Grand Chorale There with Care Thunder Academy - Craddock Thunder Baseball League True North (formerly RFC of Boulder) United Way of Laramie County University of Wyoming W.I.L.D Horizons WCMS Alumni Association Wellington Chamber Winter Park Horseman’s Assoc Wolves Softball WOW Children’s Museum Wyoming Air National Guard WY/CO Children’s Society WyoAIDS Association Wyoming Brewer’s Festival Wyoming State Bar Wyoming Wild Sheep
EDUCATIONAL VITALITY We are proud to highlight the 2021 Blue Foundation scholarship recipients. These scholarship opportunities were made possible by all those who donated to help future generations. These recipients were chosen based on their accomplishments, merit, commitment to the community, and dedication to advancing their education. We are passionate creators of building a better tomorrow, so we are proud to help these young Blue members discover pathways to realize their possibilities!
01
Aurora Rangel
02
Callie O’Donnell
03
Madison Merrell
04
Frederick High School | Frederick, CO Mount Saint Mary’s University | Los Angeles, CA
Central High School | Cheyenne, WY University of Wyoming | Laramie, WY
Central High School | Cheyenne, WY University of Wyoming | Laramie, WY
Nakayla Lamblin
East High School | Cheyenne, WY Metropolitan State University of Denver | Denver, CO
05
Paris Kiehl
06
Sejal Goud
Peak to Peak | Lafayette, CO Colorado State University | Fort Collins, CO
Stadley Lake High School | Westminster, CO Princeton University | Princeton, NJ
Blue Federal Credit Union - Annual Impact Report | 13
CELEBRATEDVITALITY 2021 was a banner year in collecting both national and regional awards that highlight our dedication to transforming our communities and making Blue the best for our members, one realized dream at a time. Awards included the following:
01 02 03 04 05 06
Better Business Bureau (BBB) Torch Award for Ethics 2021 Winner (BBB’s Highest Honor) Best of NoCo Style Magazine
07
Best Overall Credit Union
08
Best for In-Person Banking
Winner for Best Credit Union in Northern Colorado
09
CUNA Diamond Award Winner of Internal Marketing for #MyBlue Employee Initiative
10
CUNA Diamond Award Winner of Business Development Efforts
11
Viddy Awards Platinum Winner for our ‘Blue IT’ Commercial
12
Dot Comm Awards Gold Winner for our website (bluefcu.com) redesign
14 | Blue Federal Credit Union - Annual Impact Report
13
by Investopedia.com
by Nerdwallet.com Ranked as Runner-Up for Best Overall Credit Union by TheBalance.com Cheyenne Chamber of Commerce Beautification Award for our new World Headquarters Building Wyoming Tribune Eagle Readers’ Choice Awards Best Credit Union in Cheyenne (6th Consecutive Year) Wyoming Tribune Eagle Readers’ Choice Awards Best Financial Planner In Cheyenne Engineering News Report’s Best Project Office/Retail Mix Use Development
FOUNDATIONALVITALITY With each additional branch we build, we look to inspire each of our members, and that approach transcends into
19
BRANCH LOCATIONS
everything we do for them. In 2021 we officially opened our Diamond Center Branch in Cheyenne, WY and our second branch in Laramie, WY - a microbranch. This brought our total number of branches to 19.
BLUE DIAMOND CENTER BRANCH The new Diamond Center Branch is uniquely located in the retail spaces of our World Headquarters plaza and features two drive-thru video teller machines (VTM’s). The design of the space perfectly displays our new branch design and has a people-centric focus where members feel connected, relaxed, and comfortable.
16 | Blue Federal Credit Union - Annual Impact Report
426 , 139
IN-PERSON BRANCH MEMBER TRANSACTIONS
GRAND AVE. AT RIDLEY’S BRANCH Located in the Ridley’s Grocery Market off Grand Ave the new Laramie branch is less than 250 square feet. It includes space for conversations with members, one of Blue’s most modern self-serve member kiosks, and a 24/7 ATM for the public.
EXECUTIVELEADERSHIP
Stephanie Teubner
Kim Alexander
Neal Weber
Jason Buchanan
Chief Executive Officer and President
Chief Financial Officer
18 | Blue Federal Credit Union - Annual Impact Report
Chief Strategy and Growth Officer
Chief Credit and Risk Officer
Kent Richard
Chief Information Officer
Matt Vignale
Chief Retail and Member Experience Officer
BOARDLEADERSHIP
Raymond Wade Chairman
Tom Reiman Board Member
Deanne Vogel
Jeffie Wiggins-McMullen
Vice Chairman
Robert Luna Board Member
Secretary
Sean Dougherty Board Member
Teresa Kunkel Board Member
Eric Harris Treasurer
Mark Stege
Board Member
Blue Federal Credit Union - Annual Impact Report | 19
SUPERVISORYCOMMITTEE CORRESPONDENCE CAN BE ADDRESSED TO: Blue Federal Credit Union Supervisory Committee 2401 E. Pershing Blvd. Cheyenne, WY 82001 The Supervisory Committee is comprised of five elected volunteers. Its primary responsibility is to safeguard member assets by overseeing the financial and internal control systems and policies related to credit union operations. In 2021, we achieved our objective in two ways. First, we employed the services of an outside auditing firm. In addition, we conducted and reviewed various audits and researched questions from the Board of Directors and credit union members with the assistance of the credit union’s Internal Audit Department. At this time, based on the financial statement, internal audits and regulatory examinations, the Supervisory Committee believes the Credit Union’s financial condition and its internal controls are sound.
Milton B. Uribe
Chairman of the Supervisory Committee
20 | Blue Federal Credit Union - Annual Impact Report
Blue Federal Credit Union - Annual Impact Report | 21
FINANCIAL VITALITY Building on more than 70 years of strength, Blue experienced robust growth in its financial standing and stability in 2021. Facing significant economic turbulence and countless challenges throughout the year, members turned to us as a haven against these storms. Their confidence helped to grow total assets by 12.75% to more than $1.62 billion – a new milestone. With so many members entrusting Blue with their economic stimulus payments throughout the year, total deposits surged by 10.41%. In addition to helping so many members cope with financial hardship, these funds also helped to fuel the critical financing our members needed, resulting in robust loan growth of 14.96%. As a reward for their commitment, we returned $9.5 million in dividends to our members. Profitability, as measured by net income, surged more than $1.1 million ahead of budget, ending 2021 at $13.2 million. Return on average assets (ROA), a measure of how well assets are being used to generate income, ended the year at 0.86%, a mark well above our peers. Serving more than 109,000 members worldwide, Blue continues to drive its purpose by creating authentic connections with members, employees, and communities. By continually seeking to deliver the products and services members desire, Blue is proud to build on its legacy of financial strength.
22 | Blue Federal Credit Union - Annual Impact Report
FINANCIAL STATEMENTS Statement of Financial Condition ASSETS
Statement of Income
AS OF 12/31/2021
AS OF 12/31/2020
Cash & Equivalents
$44,762,354
$98,084,973
Investments
$157,815,229
$90,389,479
Loans
$1,267,105,997
$1,100,095,399
PP&E
$68,172,392
$32,659,037
Total Income
NCUSIF Deposits
$12,602,821
$11,058,641
OPERATING EXPENSE
Other Assets
$73,206,040
$107,911,926
TOTAL ASSETS
$1,623,664,833
$1,440,199,455
LIABILITIES Share & Savings Accounts Other Liabilities TOTAL LIABILITIES Member’s Equity TOTAL LIABILITIES & EQUITY
INCOME
2021 YTD
2020 YTD
Loan Income
$56,239,554
$53,702,849
Investments Income
$1,589,709
$1,241,865
Operating Income
$18,037,883
$17,493,586
$75,867,146
$72,438,300
Employee Comp & Benefits
$22,761,436
$20,674,805
Other Operating Expenses
$26,378,070
$19,386,239
$49,139,506
$40,061,044
Provision Expense
$3,684,127
$9,135,099
Cost of Funds
$9,677,926
$12,454,353
TOTAL NON-OPERATING EXPENSE
$13,362,053
$21,589,452
NET INCOME
$13,218,858
$10,787,806
TOTAL OPERATING EXPENSE
$1,425,362,608
$1,290,931,691
$58,618,932
$21,197,325
$1,483,981,540
$1,312,129,016
$139,683,293
$128,070,439
$1,623,664,833
$1,440,199,455
NON-OPERATING EXPENSE
Blue Federal Credit Union - Annual Impact Report | 23
MEMBERSHARES
21% SAVINGS $699.9 MILLION
7%
$1.43 BILLION
IN TOTAL MEMBER SHARES
CHECKING $325.9 MILLION
49% MONEY MARKETS $100.2 MILLION TERM SHARES $299.4 MILLION
23%
24 | Blue Federal Credit Union - Annual Impact Report
LOANPRODUCTION 3% 14%
AUTO LOANS $368.6 MILLION RV/BOAT LOANS $59 MILLION
9%
ADDITIONAL SECURED LOANS $77.1 MILLION
$678.7 MILLION IN LOAN ORIGINATIONS
11%
54%
UNSECURED LOANS $62.5 MILLION MORTGAGES/HELOCs $92.9 MILLION PARTICIPATION LOANS $18.6 MILLION
9%
Blue Federal Credit Union - Annual Impact Report | 25
COLORADO LOCATIONS BOULDER, CO
01
02
03
04
Arapahoe Avenue 2800 Arapahoe Avenue
ERIE, CO
08
Vista Ridge 2080 Village Vista Drive
GRANBY, CO
09
Agate Avenue 129 East Agate Avenue
Boulder, CO 80303
Erie, CO 80516
Granby, CO 80446
BROOMFIELD, CO
FORT COLLINS, CO
LAFAYETTE, CO
119th Avenue 6850 W. 119th Avenue
07
Boardwalk Drive 181 W. Boardwalk Drive
10
Highway 287 2410 South, US-287
Broomfield, CO 80020
Fort Collins, CO 80525
Lafayette, CO 80026
BROOMFIELD, CO
FORT COLLINS, CO
WELLINGTON, CO
Huron Street 13625 Huron Street
06
Drake Road 2261 E Drake Road Suite 110
Broomfield, CO 80023
Fort Collins, CO 80525
DENVER, CO
FORT COLLINS, CO
Yale Avenue 6460 East Yale Avenue Denver, CO 80222
26 | Blue Federal Credit Union - Annual Impact Report
05
Old Town 136 W. Mountain Avenue Fort Collins, CO 80524
11
5th Street at Ridley’s 7670 5th Street Wellington, CO 80549
WYOMING LOCATIONS
LARAMIE
CHEYENNE, WY Blue World Headquarters
CHEYENNE
2401 E. Pershing Boulevard
12
Cheyenne, WY 82001
13 FORT COLLINS
14
15
RANBY BOULDER
CHEYENNE, WY 7th Avenue 114 E 7th Avenue
CHEYENNE, WY
16
South Greeley Highway 700 S. Greeley Highway
Cheyenne, WY 82001
Cheyenne, WY 82007
CHEYENNE, WY
CHEYENNE, WY
Blue Diamond Center Branch 2300 Chestnut Drive Suite #100
17
Yellowstone Road 6523 Yellowstone Road
Cheyenne, WY 82001
Cheyenne, WY 82009
CHEYENNE, WY
LARAMIE, WY
Dell Range Boulevard 3810 Dell Range Boulevard
18
Grand Ave. at Ridley’s 3112 Grand Avenue
Cheyenne, WY 82009
Laramie, WY 82070
CHEYENNE, WY
LARAMIE, WY
F. E. Warren Air Force Base Branch 5105 Randall Avenue Cheyenne, WY 82005
19
UW Plaza 2405 Grand Avenue Suite F Laramie, WY 82070
DENVER
Blue Federal Credit Union - Annual Impact Report | 27
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