WHATCOM EDUCATIONAL CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- WHATCOM EDUCATIONAL CREDIT UNION (EIN 91-0712539)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-05-11
- IRS object ID
- 202341319349300344
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-11T08:12:46-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 EAST THOMAS ROAD SUITE 2300 | AddressLine1Txt |
| City | PHOENIX | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85012 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910712539 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WHATCOM EDUCATIONAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | WHAT | BusinessNameControlTxt |
| Phone | 3606761168 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 21 BELLWETHER WAY 111 | AddressLine1Txt |
| City | BELLINGHAM | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98225 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NICHOLAS HODSON | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 3607567716 | PhoneNum |
| Signature | 2023-05-04 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | NICHOLAS | PersonFirstNm |
| Person Last | HODSON | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MELISSA HANGSLEBEN | PreparerPersonNm |
| PTIN | P02087031 | PTIN |
| Phone | 6022662248 | PhoneNum |
| Preparation | 2023-05-04 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JENNIFER KUTCHER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 21 BELLWETHER WAY 111 | AddressLine1Txt |
| City | BELLINGHAM | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98225 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $98,737,059 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.WECU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1936 | FormationYr |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Activity Or Mission | OUR MISSION IS TO MAKE A MEANINGFUL DIFFERENCE IN THE LIVES OF OUR MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 473 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $60,399 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $43,237 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $82,560,332 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $87,021,794 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,117,729 | PYInvestmentIncomeAmt |
| CY Investment Income | $10,688,363 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,068,059 | PYOtherRevenueAmt |
| CY Other Revenue | $1,026,902 | CYOtherRevenueAmt |
| PY Total Revenue | $85,746,120 | PYTotalRevenueAmt |
| CY Total Revenue | $98,737,059 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $279,850 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $253,917 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $2,891,645 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $4,434,002 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $39,047,935 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $37,112,994 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $21,831,956 | PYOtherExpensesAmt |
| CY Other Expenses | $26,722,803 | CYOtherExpensesAmt |
| PY Total Expenses | $64,051,386 | PYTotalExpensesAmt |
| CY Total Expenses | $68,523,716 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $21,694,734 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $30,213,343 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,491,858,278 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,507,427,609 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,196,578,930 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,190,539,001 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $295,279,348 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $316,888,608 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | WHATCOM EDUCATIONAL CREDIT UNION (WECU) IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE WHERE MEMBERS ARE ENCOURAGED TO SAVE AND BORROW RESPONSIBLY AT FAIR AND COMPETITIVE RATES, IMPROVING THEIR FINANCIAL WELL-BEING AND STANDARD OF LIVING. THIS STATE-CHARTERED CREDIT UNION IS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION SHARE INSURANCE FUND, AND IS REGULATED BY THE NATIONAL CREDIT UNION ASSOCIATION, AND THE STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS - DIVISION OF CREDIT UNIONS. WECU'S MAIN PRODUCTS ARE CONSUMER LOANS, REAL ESTATE LOANS AND COMMERCIAL LOANS TO MEMBERS, WHICH ARE PRIMARILY FUNDED BY DEPOSITS FROM MEMBERS. FINANCIAL EDUCATION AND COMMUNITY SERVICE ARE ALSO AN INTEGRAL PART OF WECU'S OPERATIONS AND SPIRIT OF SERVICE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $0 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | LOAN PORTFOLIO (CREDIT CARDS, AUTO, PERSONAL AND OTHER TYPES):LOANS TO MEMBERS INCREASED BY 17.93%, OR $294.7 MILLION FROM 2021 TO 2022. LENDING WAS STRONG, WITH RECORD-SETTING MONTHS CULMINATING INTO ANOTHER RECORD SETTING YEAR. WECU ORIGINATED $791.75 MILLION IN 2022. THE OVERALL IMPACT IS TREMENDOUS FOR OUR MEMBERS AND THE COMMUNITY AT LARGE. IN MANY CASES, THE FINANCING DECREASED MEMBERS' MONTHLY AND ANNUAL DEBT OBLIGATIONS, PROVIDED AFFORDABLE TRANSPORTATION AND HOUSING, AND CONSOLIDATED DEBT. DESPITE THE MUCH-LAUDED ECONOMIC STRENGTH THROUGH THE PANDEMIC RECOVERY, THERE WERE STILL CHALLENGES. IN PARTICULAR, THE SUPPLY CHAIN ISSUES PRESENTED CHALLENGES WITH SUPPLY TO ORIGINATE LOANS THROUGH THE INDIRECT CHANNEL. MANY DEALERS HAD LITTLE TO NO INVENTORY. THIS IS A TESTAMENT TO WECU'S INDIRECT TEAM, AS THEY FOCUSED PRIMARILY ON RELATIONSHIPS WITH DEALERS TO MAINTAIN OPPORTUNITY. THE INCREASE IN ORIGINATIONS FROM 2021 TO 2022 WAS A RESULT OF CREATIVITY AND RESOLVE. WECU ORIGINATED $322.46 MILLION IN 2022 REPRESENTING A 45.11% INCREASE, OR $100.26 MILLION.CONSUMER REAL ESTATE, ON THE OTHER HAND, HAD DIFFERENT CHALLENGES. LOANS TO MEMBERS FOR CONSUMER REAL ESTATE REMAINED STRONG WITH AN INCREASE OF 10.37%, OR $81.43 MILLION FROM 2021 TO 2022. DUE TO THE INCREASE IN INTEREST RATES AND THE SHORTAGE OF HOMES AVAILABLE LOAN ORIGINATIONS DECREASED $176.20 MILLION IN 2022 COMPARED TO 2021. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $0 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | DEPOSITS AND LIQUIDITY:DEPOSITS DECREASED BY .73%, OR $15.65 MILLION FROM 2021 TO 2022. DEPOSITS WILL CONTINUE TO BE A FOCUS. MANAGEMENT RECOGNIZES THAT SOME DEPOSIT OUTFLOW IS NOT DIRECTLY TIED TO MARKET COMPETITION AND IS A RESULT OF A CHANGING FINANCIAL PICTURE FOR MANY OF OUR MEMBERS AND IS PREPARING VARIOUS LIQUIDITY TOOLS IN THE EVENT DEPOSIT DECLINES PERSIST. THE SHIFT TO DEPOSIT GROWTH AND RETENTION HAS TAKEN A FIRM HOLD ACROSS THE FINANCIAL INDUSTRY, PROVIDING MEMBERS WITH MANY OPTIONS FOR A GREATER RETURN ON THEIR DEPOSITS. MANAGEMENT WILL CONTINUE TO MONITOR DEPOSIT ACTIVITY AND MAINTAIN A BALANCE SHEET STRUCTURED TO MITIGATE THE RISK OF A RAPID CHANGE IN MEMBER BEHAVIOR AS IT RELATES TO HOLDING DEPOSITS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $0 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | COMMUNITY INVOLVEMENT:WHILE TECHNICALLY NOT A CHARTERED SERVICE, WECU IS COMMITTED TO COMMUNITY SERVICE AND PROVIDES SUPPORT TO A LARGE NUMBER OF LOCAL EDUCATIONAL, HEALTH AND COMMUNITY CONCERNS. IN 2022, HELPING MEMBERS AND THE COMMUNITY AT LARGE THROUGH THE CONTINUED PANDEMIC WAS STILL A PRIMARY FOCUS. THIS WAS DEMONSTRATED THROUGH SEVERAL ACTIVITIES THROUGHOUT THE YEAR. UNEMPLOYMENT FIGURES WERE IMPROVING BUT NOT RAPIDLY, AND CONSUMER SPENDING WAS STILL SPUTTERING. AS THE YEAR PROGRESSED, THE PENT-UP DESIRE FOR CONSUMERS TO TRAVEL, SHOP, EAT AT RESTAURANTS, AND RECREATE RESULTED IN POSITIVE ECONOMIC ACTIVITY. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 26691 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 473 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NICHOLAS HODSON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3606761168 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 21 BELLWETHER WAY SUITE 111 | AddressLine1Txt |
| City | BELLINGHAM | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98225 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| KRISTI LEWIS TYRAN | ||||||||
| CHAIR | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| GABRIEL MAST | ||||||||
| VICE CHAIR | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| DALE ZENDER | ||||||||
| SECRETARY | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| HARTE BRESSLER | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID WASCHKE | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| CAROL LAGER | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| ASHOK KHANNA | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| CATHIE OBERG | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| MARGO HAMMOND | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| JENNIFER E KUTCHER | ||||||||
| PRESIDENT/CEO/TREASURER | 50.00 | Yes (X) | $750,217 | $0 | $101,144 | |||
| CYNTHIA CHASE KLEIN | ||||||||
| CHIEF HUMAN RESOURCES OFFICER | 45.00 | Yes (X) | $289,640 | $0 | $87,593 | |||
| JEFFREY R DYKSTRA | ||||||||
| EXECUTIVE VICE PRESIDENT | 45.00 | $392,577 | $0 | $88,886 | Yes (X) | |||
| JACK INGRAM | ||||||||
| CHIEF INFORMATION OFFICER | 45.00 | $379,831 | $0 | $95,059 | Yes (X) | |||
| NICHOLAS A HODSON | ||||||||
| CHIEF FINANCIAL OFFICER | 45.00 | $313,218 | $0 | $80,990 | Yes (X) | |||
| ERYNNE MARIA HALLOCK | ||||||||
| VP, RETAIL DELIVERY | 45.00 | $258,969 | $0 | $70,344 | Yes (X) | |||
| DAVID PIERCE JONES | ||||||||
| CHIEF MARKETING OFFICER | 45.00 | $249,859 | $0 | $62,602 | Yes (X) | |||
| MATTHEW HENRY BERENDSEN | ||||||||
| VP, LENDING | 45.00 | $237,358 | $0 | $52,943 | Yes (X) | |||
| KENT D BOUMA | ||||||||
| VP, BUSINESS BANKING | 45.00 | $235,584 | $0 | $53,189 | Yes (X) | |||
| BOLORTSETSEG C SMITH | ||||||||
| VP, RISK MANAGEMENT & INTERNAL AUDIT | 40.00 | $198,965 | $0 | $38,921 | Yes (X) | |||
| DAVID DODGE | ||||||||
| DIRECTOR, IT INFRASTRUCTURE | 40.00 | $177,844 | $0 | $62,464 | Yes (X) | |||
| GLEN R BERRY | ||||||||
| DIRECTOR, BUSINESS INTELLIGENCE | 40.00 | $176,368 | $0 | $67,555 | Yes (X) | |||
| GRANT DYKSTRA | ||||||||
| BUSINESS BANKING SENIOR LOAN OFFICER | 40.00 | $173,429 | $0 | $55,362 | Yes (X) | |||
| MICHAEL PETER YEEND | ||||||||
| CREDIT ADMINISTRATOR | 40.00 | $173,318 | $0 | $43,639 | Yes (X) | |||
| ANDREW WHALEY | ||||||||
| DIRECTOR, ENTERPRISE APPLICATIONS | 40.00 | $169,460 | $0 | $62,723 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,176,637 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,023,414 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 61 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV INC | |||||
| 255 FISERV DR | BROOKFIELD | WI | 53045 | CORE SOFTWARE SYSTEM PROVIDER | $2,357,924 |
| INFOIMAGE INC | |||||
| 175 S HILL DR | BRISBANE | CA | 94005 | MEMBER STATEMENT PROCESSING SERVICES | $1,454,118 |
| BANKINGON INC | |||||
| 1107 S 8TH ST STE F | AUSTIN | TX | 78704 | MOBILE BANKING | $891,338 |
| DIEBOLD INCORPORATED | |||||
| 5995 MAYFAIR RD | NORTH CANTON | OH | 44720 | ATM SERVICER | $647,945 |
| MICROSOFT CORPORATION | |||||
| 1 MICROSOFT WY | REDMOND | WA | 98052 | COMPUTER SOFTWARE PROVIDER | $484,604 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 37 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS TO MEMBERS | 522100 | $63,368,105 | $63,368,105 | |
| INTERCHANGE INCOME | 522100 | $14,112,130 | $14,112,130 | |
| SERVICE CHARGES AND FEES | 522100 | $9,541,559 | $9,481,160 | $60,399 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $87,021,794 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,688,220 | TotalRevenueColumnAmt |
| Exclusion | $10,688,220 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $18,000 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $18,000 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $18,000 | TotalRevenueColumnAmt |
| Exclusion | $18,000 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $143 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $143 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $143 | TotalRevenueColumnAmt |
| Exclusion | $143 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $1,008,902 | TotalRevenueColumnAmt |
| Exclusion | $1,008,902 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,008,902 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $98,737,059 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $86,961,395 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $60,399 | UnrelatedBusinessRevenueAmt |
| Exclusion | $11,715,265 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $227,917 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,000 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,434,002 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,037,886 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,801,507 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,846,310 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,008,616 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,418,675 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,539 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $232,938 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,074 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,575,640 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,023,492 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,592,201 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,010,684 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,589,698 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $211,487 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $299,681 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,620,340 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,463,108 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,481 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| UBI TAXES | $13,000 |
| CREDIT CARD EXPENSES | $6,095,116 |
| OTHER EXPENSES | $3,494,846 |
| PROVISION FOR LOAN LOSS | $1,620,355 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$3,246,877 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,523,716 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,784,936 | BOYAmt |
| EOY | $36,427,874 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $685,897,687 | BOYAmt |
| EOY | $288,819,015 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,023,936 | BOYAmt |
| EOY | $12,144,176 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,631,956,993 | BOYAmt |
| EOY | $1,927,038,258 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,508,029 | BOYAmt |
| EOY | $2,737,541 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $57,428,293 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $24,612,385 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,559,668 | BOYAmt |
| EOY | $32,815,908 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,383,966 | BOYAmt |
| EOY | $120,898,362 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,118,600 | BOYAmt |
| EOY | $55,508,709 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,624,463 | BOYAmt |
| EOY | $31,037,766 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,491,858,278 | BOYAmt |
| EOY | $2,507,427,609 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,400,647 | BOYAmt |
| EOY | $30,902,243 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,074,284 | BOYAmt |
| EOY | $3,228,492 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,250,000 | BOYAmt |
| EOY | $27,250,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,144,853,999 | BOYAmt |
| EOY | $2,129,158,266 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,196,578,930 | BOYAmt |
| EOY | $2,190,539,001 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $295,279,348 | BOYAmt |
| EOY | $316,888,608 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $295,279,348 | BOYAmt |
| EOY | $316,888,608 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,491,858,278 | BOYAmt |
| EOY | $2,507,427,609 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $30,213,343 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$7,398,331 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$1,205,752 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $33,074 | PoliticalExpendituresAmt |
| Volunteer Hours | 0 | VolunteerHoursCnt |
| Expended527 Activities | $0 | Expended527ActivitiesAmt |
| Internal Funds Contributed | $33,074 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $33,074 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTHWEST CREDIT UNION ASSOCIATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 18000 INTERNATIONAL BLVD SUITE 11 | AddressLine1Txt |
| City | SEATAC | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98188 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910460483 | EIN |
| Paid Internal Funds | $33,074 | PaidInternalFundsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | CONTRIBUTIONS ARE MADE TO POLITICAL ACTION COMMITTEE (PAC) AND OTHER LOBBYING EFFORTS THROUGH ANNUAL PAYMENTS TO THE NORTHWEST CREDIT UNION ASSOCIATION (NWCUA). NWCUA SUGGESTS A DONATION TO THESE EFFORTS THROUGH A VOLUNTARY "FAIR-SHARE" CONTRIBUTION FOR ALL STATE-CHARTERED CREDIT UNIONS. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,548,478 | OtherCostOrOtherBasisAmt |
| Book Value | $9,548,478 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $29,963,841 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,527,176 | DepreciationAmt |
| Book Value | $18,436,665 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $232,065 | OtherCostOrOtherBasisAmt |
| Depreciation | $226,999 | DepreciationAmt |
| Book Value | $5,066 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,478,756 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,858,210 | DepreciationAmt |
| Book Value | $3,620,546 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,205,153 | OtherCostOrOtherBasisAmt |
| Book Value | $1,205,153 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $32,815,908 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBERS' SHARE AND SAVINGS ACCOUNT | $2,128,867,815 |
| ACCRUED PENSIONS AND PROFIT SHARING | $290,451 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,129,158,266 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $97,531,307 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$1,205,752 | OtherRevenueAmt |
| Revenue Not Reported | -$1,205,752 | RevenueNotReportedAmt |
| Revenue Subtotal | $98,737,059 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $98,737,059 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $68,523,716 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $68,523,716 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $68,523,716 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | MONEY RECEIVED WITH MORTGAGE PAYMENTS THAT IS HELD IN ESCROW FOR REAL ESTATE TAXES. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS) TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. THE CREDIT UNION'S 2019 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON 457F ASSETS MOVED TO PART XI, LINE 9 -1,205,752. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| FUTURESNW | ||||||||
| 46 CASCADE LN | BELLIGHAM | WA | 98229 | 272997677 | 501(C)(3) | $15,000 | $0 | EDUCATION GRANT |
| NOOKSACK SALMON ENHANCEMENT ASSOCIATION | ||||||||
| 3057 EAST BAKERVIEW RD | BELLINGHAM | WA | 98226 | 943140165 | 501(C)(3) | $15,000 | $0 | EDUCATION GRANT |
| WHATCOM LITERACY COUNCIL | ||||||||
| PO BOX 1292 | BELLINGHAM | WA | 98227 | 911220307 | 501(C)(3) | $20,000 | $0 | EDUCATION GRANT |
| WILD WHATCOM | ||||||||
| PO BOX 4457 | BELLINGHAM | WA | 98227 | 900791289 | 501(C)(3) | $10,000 | $0 | EDUCATION GRANT |
| PICKFORD FILM CENTER | ||||||||
| 1318 BAY STREET | BELLINGHAM | WA | 98227 | 911891456 | 501(C)(3) | $20,000 | $0 | EDUCATION GRANT |
| BELLINGHAM CHILDCARE & LEARNING CENTER | ||||||||
| 2600 SQUALICUM PKWY | BELLINGHAM | WA | 98225 | 911523127 | 501(C)(3) | $20,000 | $0 | EDUCATION GRANT |
| EXPLORATIONS ACADEMY | ||||||||
| 1701 ELLIS ST STE 215 | BELLINGHAM | WA | 98225 | 911518827 | 501(C)(3) | $10,000 | $0 | EDUCATION GRANT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 7 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 24 | RecipientCnt |
| Cash Grant | $26,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | WHATCOM EDUCATIONAL CREDIT UNION PROVIDES GRANT FUNDING ONLY TO LOCAL, REPUTABLE ORGANIZATIONS WHO HAVE A VERIFIED PURPOSE AND PRESENCE IN THE COMMUNITY. WHATCOM EDUCATIONAL CREDIT UNION PROVIDES SCHOLARSHIP FUNDING TO LOCAL SECONDARY EDUCATION INSTITUTIONS. THE FUNDS ARE PROVIDED TO SCHOOL SCHOLARSHIP FOUNDATIONS WHO THEN DETERMINE THE MOST DESERVING RECIPIENTS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (15 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JENNIFER E KUTCHER | ||||||||||||||
| PRESIDENT/CEO/TREASURER | $561,540 | $0 | $164,979 | $0 | $23,698 | $0 | $74,550 | $0 | $26,594 | $0 | $851,361 | $0 | $0 | $0 |
| JEFFREY R DYKSTRA | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $320,955 | $0 | $54,893 | $0 | $16,729 | $0 | $61,843 | $0 | $27,043 | $0 | $481,463 | $0 | $0 | $0 |
| JACK INGRAM | ||||||||||||||
| CHIEF INFORMATION OFFICER | $310,333 | $0 | $50,718 | $0 | $18,780 | $0 | $68,016 | $0 | $27,043 | $0 | $474,890 | $0 | $0 | $0 |
| NICHOLAS A HODSON | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $262,617 | $0 | $44,279 | $0 | $6,322 | $0 | $53,947 | $0 | $27,043 | $0 | $394,208 | $0 | $0 | $0 |
| CYNTHIA CHASE KLEIN | ||||||||||||||
| CHIEF HUMAN RESOURCES OFFICER | $244,632 | $0 | $41,247 | $0 | $3,761 | $0 | $60,550 | $0 | $27,043 | $0 | $377,233 | $0 | $0 | $0 |
| ERYNNE MARIA HALLOCK | ||||||||||||||
| VP, RETAIL DELIVERY | $213,670 | $0 | $36,544 | $0 | $8,755 | $0 | $43,301 | $0 | $27,043 | $0 | $329,313 | $0 | $0 | $0 |
| DAVID PIERCE JONES | ||||||||||||||
| CHIEF MARKETING OFFICER | $197,866 | $0 | $34,003 | $0 | $17,990 | $0 | $52,506 | $0 | $10,096 | $0 | $312,461 | $0 | $0 | $0 |
| MATTHEW HENRY BERENDSEN | ||||||||||||||
| VP, LENDING | $202,922 | $0 | $32,536 | $0 | $1,900 | $0 | $25,900 | $0 | $27,043 | $0 | $290,301 | $0 | $0 | $0 |
| KENT D BOUMA | ||||||||||||||
| VP, BUSINESS BANKING | $202,588 | $0 | $32,996 | $0 | $0 | $0 | $26,146 | $0 | $27,043 | $0 | $288,773 | $0 | $0 | $0 |
| GLEN R BERRY | ||||||||||||||
| DIRECTOR, BUSINESS INTELLIGENCE | $162,721 | $0 | $13,647 | $0 | $0 | $0 | $40,016 | $0 | $27,539 | $0 | $243,923 | $0 | $0 | $0 |
| DAVID DODGE | ||||||||||||||
| DIRECTOR, IT INFRASTRUCTURE | $159,855 | $0 | $13,688 | $0 | $4,301 | $0 | $46,090 | $0 | $16,374 | $0 | $240,308 | $0 | $0 | $0 |
| BOLORTSETSEG C SMITH | ||||||||||||||
| VP, RISK MANAGEMENT & INTERNAL AUDIT | $168,070 | $0 | $28,608 | $0 | $2,287 | $0 | $21,635 | $0 | $17,286 | $0 | $237,886 | $0 | $0 | $0 |
| ANDREW WHALEY | ||||||||||||||
| DIRECTOR, ENTERPRISE APPLICATIONS | $153,052 | $0 | $13,105 | $0 | $3,303 | $0 | $35,680 | $0 | $27,043 | $0 | $232,183 | $0 | $0 | $0 |
| GRANT DYKSTRA | ||||||||||||||
| BUSINESS BANKING SENIOR LOAN OFFICER | $159,946 | $0 | $13,483 | $0 | $0 | $0 | $28,319 | $0 | $27,043 | $0 | $228,791 | $0 | $0 | $0 |
| MICHAEL PETER YEEND | ||||||||||||||
| CREDIT ADMINISTRATOR | $158,054 | $0 | $13,815 | $0 | $1,449 | $0 | $23,980 | $0 | $19,659 | $0 | $216,957 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | THE CREDIT UNION PROVIDES PAYMENT FOR TRAVEL FOR COMPANIONS FOR MEMBERS OF MANAGEMENT AND BOARD MEMBERS. THIS IS INCLUDED IN TAXABLE INCOME. |
| PART I, LINE 4B | THE CREDIT UNION MADE NO CONTRIBUTIONS OR DISTRIBUTIONS TO/FROM A 457(F) PLAN DURING THE YEAR. THE CREDIT UNION HAS MADE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO A KEY EMPLOYEE. THE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE POLICY DEATH BENEFITS AND CASH SURRENDER VALUES OF THE RESPECTIVE LIFE INSURANCE POLICIES, AND THE FAIR VALUE OF AN ANNUITY. THE POLICIES ARE OWNED BY THE EMPLOYEE AND THEY HAVE THE RIGHT TO NAME THE BENEFICIARIES FOR AMOUNTS NOT SECURED BY THE ASSIGNMENTS. THE LOAN TO THE EXECUTIVE IS NOT DUE UNTIL DEATH AT WHICH TIME THERE IS ANTICIPATED TO BE SUFFICIENT INSURANCE POLICY PROCEEDS TO REPAY THE PREMIUM LOAN PLUS ACCRUED INTEREST. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JENNIFER KUTCHER | PersonNm |
| Relationship With Org | CEO | RelationshipWithOrgTxt |
| Loan Purpose | SPLIT DOLLAR LIFE INSURANCE LOAN | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $11,073,912 | OriginalPrincipalAmt |
| Balance Due | $12,144,176 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $12,144,176 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | JEFFREY DYKSTRA AND GRANT DYKSTRA HAVE A FAMILY RELATIONSHIP. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP IS OPEN TO ANYONE WHO LIVES, WORKS, WORSHIPS OR ATTENDS SCHOOL IN WASHINGTON, AND RELATIVES OF ALL MEMBERS. THE CREDIT UNION'S MEMBERS RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS OR EXCESS DUES IN THE FORM OF CASH DIVIDENDS. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. ELECTIONS ARE HELD ANNUALLY OR AS VACANCIES ARISE. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | WECU'S CONFLICT OF INTEREST POLICY FOCUSES ON DEFINING AND PREVENTING CONFLICTS OF INTEREST. BEFORE ENGAGING IN ANY ACTIVITY, TRANSACTION, OR BEFORE ENTERING INTO ANY RELATIONSHIP THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST, EMPLOYEES MUST SEEK REVIEW FROM THEIR MANAGERS, THE INTERNAL AUDITOR, OR THE HUMAN RESOURCES DEPTARTMENT. WECU'S HUMAN RESOURCES DEPARTMENT, STAFF LIAISON, AND INTERNAL AUDITOR ARE RESPONSIBLE FOR ENSURING THAT NO CONFLICT OF INTERESTS OCCUR THAT COULD HAVE A NEGATIVE EFFECT ON WECU. IF ANYONE SUSPECTS A CONFLICT OF INTEREST, IT IS REPORTED TO MANAGEMENT, THE STAFF LIAISON, THE HUMAN RESOURCES DEPARTMENT, OR THE INTERNAL AUDITOR. WECU HAS VARIOUS ANNUAL REVIEWS AND CONTROLS IN PLACE TO MONITOR SITUATIONS IN WHICH A CONFLICT OF INTEREST MIGHT ARISE, WHICH ARE PERFORMED BY MANAGEMENT, OR OUR INTERNAL AUDITOR. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE PRESIDENT/CEO IS DETERMINED BY THE DETAILS OF THE EMPLOYMENT CONTRACT SET FORTH BETWEEN THE BOARD OF DIRECTORS AND THE PRESIDENT/CEO AND PROVIDED FOR IN THE ANNUAL WECU CEO COMPENSATION & PERFORMANCE PLAN. THE BOARD WORKS WITH AN INDEPENDENT CONSULTANT WHO UTILIZES NATIONAL SURVEYS AND OTHER DATA TO HELP INFORM THE COMPENSATION OUTLINED IN THE PLAN. THIS WAS LAST COMPLETED IN 2022. THE CREDIT UNION HAS ENGAGED AN INDEPENDENT CONSULTANT TO ENSURE THAT PAY RATES FOR OTHER OFFICERS AND KEY EMPLOYEES ARE COMPETITIVE WITHIN THE MARKETPLACE. THE CONSULTANT UTILIZES A NUMBER OF COMPENSATION SURVEYS TO HELP DETERMINE THE OVERALL SALARY STRUCTURE OF THE ORGANIZATION. COMPENSATION DECISIONS ARE DOCUMENTED IN THE PERSONNEL FILE. THIS WAS LAST COMPLETED IN 2022. |
| FORM 990, PART VI, SECTION C, LINE 19 | WECU HAS A MEMBER RIGHTS POLICY IN WHICH WE OUTLINE HOW OUR MEMBERS CAN REQUEST AND RECEIVE CREDIT UNION CORPORATE RECORDS, WHICH INCLUDE OUR ARTICLES AND BYLAWS, MINUTES OF OUR MEMBERSHIP MEETINGS, FINANCIAL REPORTS, CODE OF ETHICS AND BOARD GOVERNANCE POLICIES. A MEMBER REQUEST MUST BE SUBMITTED IN WRITING TO THE CREDIT UNION AND SPECIFICALLY IDENTIFY THE DISCLOSABLE RECORDS REQUESTED. THE CREDIT UNION MAY REQUIRE THE MEMBER TO SIGN A CONFIDENTIALITY AGREEMENT TO PROTECT THE CREDIT UNION FROM UNAUTHORIZED DISCLOSURE OF CERTAIN PROPRIETARY INFORMATION. IF ANY DOCUMENTS CONTAIN MEMBER INFORMATION, IT WILL BE EXPUNGED FROM THE DOCUMENT BEFORE BEING PROVIDED TO THE PUBLIC. |
| FORM 990, PART IX, LINE 24E | ATM EXPENSES 311,608. DEFERRED LOAN ORIGINATION COSTS -3,558,485. |
| FORM 990, PART XI, LINE 9: | LOSS ON 457F ASSETS -1,205,752. |
| FORM 990, PART XII, LINE 2C: | THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |