Blue Federal Credit Union 2021 Annual Impact Report

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.

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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

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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

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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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