2023-05-12T11:17:33-05:00 2022-12-31 810987947 HAUSER JONES & SAS PLLC 208 N MERIDIAN PUYALLUP WA 98371 990 2022-01-01 910176216 CREDIT UNIONS IN THE STATE OF WASHINGTON TAPCO CREDIT UNION CRED 2536203241 6312 - 19TH STREET WEST TACOMA WA 98466 KATHY SCHOLES CFO 2535659895 2023-05-12 1 KATHY SCHOLES 999009999 0 LINDSEY SAS CPA P01620141 4258891778 2023-05-12 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z JUSTIN MARTIN 6312 - 19TH STREET WEST TACOMA WA 98466 26443311 0 X WWW.TAPCOCU.ORG X 1934 WA IMPROVING LIVES BY PARTNERING WITH FAMILIES TO REACH THEIR GOALS. 9 9 141 13 86128 0 0 0 19795804 25658238 508121 725070 -18230 6611 20285695 26389919 17500 15125 1166236 1232865 8066094 9681709 0 0 0 8006660 8798077 17256490 19727776 3029205 6662143 574292386 646595896 531353962 600209613 42938424 46386283 X WE ARE A FINANCIAL COOPERATIVE COMMITTED TO IMPROVING LIVES BY PARTNERING WITH FAMILIES TO REACH THEIR GOALS AND IMPACTING OUR COMMUNITY BY HELPING INDIVIDUALS REALIZE THEIR FULL POTENTIAL. WE VALUE TRUST AND UNDERSTANDING, AND RESPECT FOR OURSELVES AND OTHERS. 0 0 TAPCO CREDIT UNION PROVIDES FINANCIAL PRODUCTS AND SERVICES TO OVER 32,593 MEMBERS, INCLUDING MORE THAN 17,104 CONSUMERS, REAL ESTATE, AND BUSINESS LOANS, AND OVER 53,720 DEPOSIT ACCOUNTS. SERVICES OFFERED INCLUDE ONLINE AND MOBILE BANKING WITH BILL PAY AND REMOTE DEPOSIT, BRANCHES, ATMS, SAFE DEPOSIT BOXES, SHARED BRANCHING, ACH, AND WIRES. TAPCO HAS BEEN A PART OF THE TACOMA-PIERCE COUNTY COMMUNITY FOR 88 YEARS. WE CONTINUE TO FOCUS ON OUR TAGLINE "ROOTED IN SOUTH SOUND", WHICH EMBODIES OUR VISION, MISSION, AND VALUES AND EMPHASIZES OUR COMMITMENT TO THE CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE". IN 2022, OUR STAFF, BOARD AND SUPERVISORY COMMITTEE MEMBERS, AND MEMBERSHIP DEDICATED THEIR TIME AND MONEY TO SUPPORT LOCAL COMMUNITY PROGRAMS AND EVENTS. THROUGH THESE EVENTS OVER $63,000 WAS DONATED AND $15,000 WAS GRANTED IN SCHOLARSHIPS. WE CONTINUED TO INCREASE MEMBER LOANS SIGNIFICANTLY. TAPCO'S LOAN PORTFOLIO IS DISTRIBUTED ACROSS MANY LOAN TYPES, INCLUDING OVER $156 MILLION IN MORTGAGES AND EQUITY LOANS, OVER $249 MILLION IN AUTO LOANS AND $87 MILLION IN COMMERCIAL LOANS. TAPCO PEAK MEMBER REWARDS PROGRAM RECOGNIZES MEMBERS FINANCIAL RELATIONSHIP WITH TAPCO AND OFFERS BETTER RATES AND FREE SERVICES. REWARDS BENEFITS MAY APPLY TO ALL FAMILY MEMBERS LIVING IN THE SAME HOUSEHOLD BY LINKING FAMILY MEMBERSHIPS, YOUR HIGH SCHOOL, COLLEGE STUDENT, OR OTHER FAMILY. WE CONTINUED TO LOOK FOR WAYS TO BETTER SERVE OUR MEMBERS NEAR WHERE THEY LIVE AND WORK. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 3043 0 1 141 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X KATHY SCHOLES 2535659895 6312 - 19TH STREET WEST TACOMA WA 98466 JOHN O'LOUGHLIN SUPERVISORY COMMITTEE 1.00 X 685 0 0 BRENT BOMKAMP SUPERVISORY COMMITTEE 1.00 X 874 0 0 LINDSEY WADE BOARD MEMBER 1.00 X 1160 0 0 BRUCE BAURICHTER BOARD MEMBER 1.00 X 0 0 0 PATRICIA BOSMANS BOARD MEMBER 1.00 X 0 0 0 LOUIS COOPER JR BOARD MEMBER 1.00 X 0 0 0 ROB MASKO BOARD VICE CHAIR 2.00 X X 0 0 0 PAT MCELLIGOT BOARD CHAIR 2.00 X X 0 0 0 GENE MILLER BOARD MEMBER 1.00 X 0 0 0 CLARA NELSON BOARD SECRETARY/TREASURER 1.00 X X 0 0 0 ALEX WILSIE BOARD MEMBER 1.00 X 0 0 0 JUSTIN MARTIN CEO 40.00 X 365615 0 26432 WILLIAM PETERS COO 40.00 X 301507 0 27755 KATHLEEN SCHOLES CFO 40.00 X 219077 0 15245 JASON ALLEN CIO 40.00 X 115161 0 2750 SARAH GRAY CPIO 40.00 X 91309 0 1172 KERRY KEELY VP COMMERCIAL LENDING 40.00 X 154957 0 10786 LORI STANAWAY VP OPERATIONS 40.00 X 151995 0 12273 HEATHER FATE VP MEMBER EXPERIENCE 40.00 X 147123 0 11427 1549463 0 107840 7 0 1 0 FISERV PO BOX 208457 DALLAS TX 753208457 CORE, ONLINE BANKING, MOBILE, ACCOUNTING 1672268 COOP DEBITCREDIT CARD PROCESSING 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 CARD PROCESSING 655298 MOUNTAIN CONSTRUCTION 7457 S MADISON ST TACOMA WA 98409 FACILITIES REMODELS 530146 ALVAKA NETWORKS PO BOX 841 TRABUCO CANYON CA 92678 IT SUPPORT AND SECURITY 355317 EXPERIAN PO BOX 841971 LOS ANGELES CA 900841971 CONSUMER CREDIT REPORTING 176885 5 INTEREST ON LOANS TO MEMBERS 522100 18210974 18210974 FEE INCOME 522100 3286988 3207972 79016 OTHER MISCELLANEOUS INCOME 522100 2717884 2717884 OTHER NON-INTEREST INCOME 522100 1442392 1435280 7112 25658238 725070 725070 60003 53392 6611 6611 6611 26389919 25572110 86128 731681 15125 1232865 1095388 6490626 326443 1141518 627734 25518 340416 370712 3820727 642988 202738 190685 585272 762573 LOAN SERVICING EXPENSES 1484495 LOANS PROVISON 230504 ASSOCIATION FEES 100961 OVER/SHORT 27894 12594 19727776 3490311 2952481 85043715 31534653 407809934 521533526 3206182 4901031 18253573 8164417 9625980 10089156 47784075 53349168 7756124 1496000 9576065 20739881 574292386 646595896 3957603 4358618 0 55040000 527396359 540810995 531353962 600209613 X 0 0 0 0 42938424 46386283 42938424 46386283 574292386 646595896 6662143 -3214284 0 X X 0 1 X 1 0 3376024 3376024 9106533 3866322 5240211 410445 245089 165356 2647532 1712357 935175 2713039 2340649 372390 10089156 MEMBER SHARES OF ALL TYPES 540810995 540810995 1 SCHOLARSHIPS 6 15125 0 COMMITTEE N/A PART I, LINE 2 SCHOLARSHIP FUNDS ARE AWARDED BY A COMMITTEE OF THE BOARD AND CHECKS ARE MADE OUT DIRECTLY TO THE EDUCATIONAL INSTITUTIONS. X 0 1 0 JUSTIN MARTIN CEO 292000 0 49500 0 24115 0 17769 0 8663 0 392047 0 0 0 WILLIAM PETERS COO 230874 0 25686 0 44947 0 19771 0 7984 0 329262 0 0 0 KATHLEEN SCHOLES CFO 187789 0 11143 0 20145 0 15245 0 0 0 234322 0 0 0 KERRY KEELY VP COMMERCIAL LENDING 118243 0 8608 0 28106 0 10786 0 0 0 165743 0 0 0 LORI STANAWAY VP OPERATIONS 116089 0 8426 0 27480 0 10713 0 1560 0 164268 0 0 0 HEATHER FATE VP MEMBER EXPERIENCE 128595 0 8541 0 9987 0 10427 0 1000 0 158550 0 0 0 FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS "FOR THE LOVE OF PEOPLE" IS BEING REPLACED WITH "ROOTED IN SOUTH SOUND." FORM 990, PART VI, SECTION A, LINE 6 TAPCO CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A TAPCO CREDIT UNION'S BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERS OF TAPCO CREDIT UNION AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE VP/CFO REVIEWS FORM 990 BY COMPARING IT TO FINANCIAL STATEMENTS AND ACCOUNTING DATA. A COPY OF FORM 990 WILL BE PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C IT IS TAPCO CREDIT UNION'S POLICY THAT ALL EMPLOYEES AVOID ANY CONFLICT BETWEEN THEIR PERSONAL INTERESTS AND THOSE OF TAPCO. THE PURPOSE OF THE CONFLICT OF INTEREST POLICY IS TO ENSURE THAT TAPCO'S HONESTY AND INTEGRITY, AND THEREFORE ITS REPUTATION, ARE NOT COMPROMISED. THE FUNDAMENTAL PRINCIPLE GUIDING THIS POLICY IS THAT NO EMPLOYEE SHOULD HAVE, OR APPEAR TO HAVE, PERSONAL INTERESTS OR RELATIONSHIPS THAT ACTUALLY OR POTENTIALLY CONFLICT WITH THE BEST INTERESTS OF TAPCO. IT IS NOT POSSIBLE TO GIVE AN EXHAUSTIVE LIST OF SITUATIONS THAT MIGHT INVOLVE VIOLATIONS OF THIS POLICY. HOWEVER, THE SITUATIONS THAT WOULD CONSTITUTE A CONFLICT OF INTEREST IN MOST CASES INCLUDED BUT ARE NOT LIMITED TO: 1. HOLDING AN INTEREST IN OR ACCEPTING FREE OR DISCOUNTED GOODS FROM ANY ORGANIZATION THAT DOES, OR IS SEEKING TO DO, BUSINESS WITH TAPCO, BY ANY EMPLOYEE WHO IS IN A POSITION TO DIRECTLY OR INDIRECTLY INFLUENCE EITHER TAPCO'S DECISION TO DO BUSINESS, OR THE TERMS UPON WHICH BUSINESS WOULD BE DONE WITH SUCH ORGANIZATION; 2. HOLDING ANY INTEREST IN AN ORGANIZATION THAT COMPETES WITH TAPCO; 3. BEING EMPLOYED BY (INCLUDING AS A CONSULTANT) OR SERVING ON THE BOARD OF ANY ORGANIZATION WHICH DOES OR IS SEEKING TO DO BUSINESS WITH TAPCO OR WHICH COMPETES WITH TAPCO; 4. PROFITING PERSONALLY, E.G., THROUGH COMMISSIONS, LOANS, EXPENSE REIMBURSEMENTS OR OTHER PAYMENTS, FROM ANY ORGANIZATION SEEKING TO DO BUSINESS WITH TAPCO. A CONFLICT OF INTEREST ALSO EXISTS WHEN A MEMBER OF THE EMPLOYEE'S IMMEDIATE FAMILY IS INVOLVED IN SITUATIONS SUCH AS THOSE ABOVE. EMPLOYEES MAY RECEIVE GIFTS OR SPECIAL CONSIDERATION VALUED UP TO $100. NO CASH CURRENCY OF ANY VALUE IS ALLOWED. EMPLOYEES HAVE A RESPONSIBILITY TO DISCLOSE ANY GIFTS THAT EXCEED THE $100 THRESHOLD OR IF THE VALUE OF THE GIFT CANNOT BE DETERMINED TO HUMAN RESOURCES. IF THE VALUE OF THE GIFT OR SPECIAL CONSIDERATION CANNOT BE ASSESSED, IT MAY BE DONATED FOR A CHARTABLE FUND RAISIG EVENT. IF AN EMPLOYEE REFUSES A CASH CURRENCY GIFT AND IT IS LEFT WITH THEM, IT WILL BE PROCESSED VIA TAPCO CHARITY GL. IT IS THE EMPLOYEE'S RESPONSIBLITY TO REPORT ANY ACTUAL OR POTENTIAL CONFLICT THAT MAY EXIST BETWEEN THE EMPLOYEE (AND THE EMPLOYEE'S IMMEDIATE FAMILY) AND TAPCO. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS THE CEO AND UTILIZES THE COMPEASE PAY DATA AS A GUIDELINE FOR COMPENSATION. TAPCO UTILIZES COMPEASE, AN OUTSIDE CLOUD BASED SALARY ADMINISTRATION AND PLANNING SYSTEM WHICH USED TRUSTED SALARY SOURCES OF OVER 700 CREDIT UNIONS AND CUNA SALARY INFORMATION. IT FACTORS IN INDIVIDUAL POSITION RESPONSIBILITIES, LOCATION, SIZE, AND INDUSTRY. COMPENSATION IS BASED ON PAY RANGES BY POSITION FROM COMPEASE AND THE CREDIT UNION'S PAY PHILOSOPHY GUIDELINES. A PERSONNEL ACTION NOTICE IS COMPLETED FOR NEW HIRES, PROMOTIONS, AND MERIT INCREASES. ALL NEW HIRES ARE PROVIDED AN OFFER LETTER OUTLINING THE TERMS OF EMPLOYMENT. THE LETTER IS SIGNED AND A PART OF THE EMPLOYEES PERSONNEL FILE. THE ANNUAL SALARY BUDGET IS APPROVED BY THE BOARD AS PART OF THE COMPLETE ANNUAL OPERATING BUDGET. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE MADE PUBLIC THROUGH THE ANNUAL MEETING AND INTERNET AND THE CONFLICTS OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XII, LINE 2C: THE BOARD AND SUPERVISORY COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.