2023-10-20T12:01:18-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2022-01-01 910639210 O BEE CREDIT UNION CRED 3609430740 649 WOODLAND SQUARE LOOP SE 100 LACEY WA 98503 BRUCE CRAMER INTERIM CEO 3609430740 2023-10-19 1 BRUCE CRAMER XXX-XX-XXXX 0 MELISSA HANGSLEBEN P02087031 6022662248 2023-10-19 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRUCE CRAMER 649 WOODLAND SQUARE LOOP SE 100 LACEY WA 98503 28605802 0 X WWW.OBEE.COM X 1955 WA CREDIT UNION IN THE STATE OF WASHINGTON. PROVIDES FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 9 9 164 17 62315 0 0 0 26408285 27786215 231732 -110362 0 0 26640017 27675853 21000 21500 821057 1184407 9468381 10819233 0 0 0 9331745 13319020 19642183 25344160 6997834 2331693 467137296 560412089 431349431 521899357 35787865 38512732 X THE PURPOSE OF THE CREDIT UNION IS TO OPERATE AS A COOPERATIVE, NOT-FOR-PROFIT FINANCIAL INSTITUTION, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. 0 0 THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, SHARE CERTIFICATES, CONSUMER AND COMMERCIAL LOANS, AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 9107 0 1 164 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 0 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X DANIEL HILDRETH 3609430740 649 WOODLAND SQUARE LOOP SE 100 LACEY WA 98503 JAMES COLLINS CEO/TREASURER 40.00 X 318665 0 26889 JEREMY FRANKLIN VP OF MORTGAGE LENDING 40.00 X 275349 0 13189 DAVID ECHTLE CHIEF LENDING OFFICER 40.00 X 189761 0 35032 TIMOTHY TIMMER COMMERCIAL LOAN OFFICER 40.00 X 208550 0 12889 MICHAEL LINDSEY MORTGAGE LOAN OFFICER (THRU 10/22) 40.00 X 175319 0 12809 JENNIFER ROBERTS-ECHTLE CHIEF OPERATIONS OFFICER 40.00 X 147804 0 33422 WENDY AVILA SMALL BUSINESS LOAN OFFICER 40.00 X 158020 0 19579 DANIEL HILDRETH SVP OF FINANCE 40.00 X 148038 0 28204 EDWIN MAGANA VP OF INFORMATION TECHNOLOGY 40.00 X 149603 0 7896 JASON GORDON CHAIR 4.00 X X 0 0 0 PRABAKARAN MANOHARAN VICE CHAIR 4.00 X X 0 0 0 JOY JOHNSTON 2ND VICE CHAIR 4.00 X X 0 0 0 WILFORD SAUNDERS DIRECTOR 4.00 X 0 0 0 STEVE BLANKENSHIP DIRECTOR 4.00 X 0 0 0 DIANE BRANSON-UNWIN DIRECTOR 4.00 X 0 0 0 JUDITH WEEKS DIRECTOR 4.00 X 0 0 0 CHRISTY KRIGSMAN DIRECTOR 4.00 X 0 0 0 MICHELE FISHER DIRECTOR 4.00 X 0 0 0 MYRIAM BAUSCH DIRECTOR (THRU 01/22) 4.00 X 0 0 0 JERRY MURPHY DIRECTOR (THRU 09/22) 4.00 X 0 0 0 1771109 0 189909 16 0 1 0 FIS 601 RIVERSIDE AVENUE JACKSONVILLE FL 32204 CARD PROCESSOR 1715741 JACK HENRY AND ASSOCIATES 663 W HIGHWAY 60 MONETT MO 65708 DATA PROCESSING 497670 COOK SECURITY GROUP 6501 E TRENT AVENUE SUITE I SPOKANE VALLEY WA 99212 ATM AND EQUIPMENT SERVICING 304694 THURSTON COUNTY TITLE 105 E 8TH AVENUE OLYMPIA WA 98501 REAL ESTATE TITLE SERVICES 222870 DOCUSIGN PO BOX 735445 DALLAS TX 75373 DOCUMENT SERVICES 151165 12 LOAN INTEREST 522100 18679154 18679154 INTERCHANGE INCOME 522100 3557905 3557905 FEES AND CHARGES 522100 3053864 2991549 62315 OTHER NON-INTEREST INCOME 522100 2495292 2495292 27786215 819587 819587 929949 -929949 -929949 -929949 27675853 27723900 62315 -110362 21500 1184407 927817 6580081 660536 1949997 700802 61666 89484 841714 540643 1031011 705633 880907 86479 29979 446503 688163 71392 PROVISION FOR LOAN LOSS 2512989 OPERATING EXPENSES 1848979 CREDIT CARD EXPENSES 1353466 LENDING EXPENSES 1252993 877019 25344160 7679126 9177392 85704848 39116630 277794 302681 347011140 481331155 751999 628378 16405320 9324848 7571832 7080472 1086877 2522880 17053680 20252501 467137296 560412089 6438824 8459282 362299 0 24999999 2000000 12000000 422548308 476440076 431349431 521899357 X 0 0 0 0 35787865 38512732 35787865 38512732 467137296 560412089 X 2331693 393174 X 0 1 X 1 0 1099995 1099995 9097147 4367052 4730095 6208178 4957796 1250382 7080472 MEMBER SHARE AND DEPOSIT ACCOUNTS 476440076 476440076 X 28069027 393174 393174 27675853 0 27675853 25344160 0 25344160 0 25344160 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCREASE IN CREDIT UNION SERVICE ORGANIZATION INVESTMENT 393,174. 1 COLLEGE SCHOLARSHIPS 7 21500 N/A N/A PART I, LINE 2: A COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS SUBMITTED APPLICATIONS AND SELECTS RECIPIENTS. RECIPIENTS ARE AWARDED ON THE BASIS OF NEED, WITH CONSIDERATION GIVEN TO THE STUDENT'S AND THEIR FAMILY'S RESOURCES AND THE RESEARCH AND PLANNING DEMONSTRATED BY THE APPLICANT. WHEN THE RECIPIENTS HAVE BEEN DETERMINED, SCHOLARSHIP FUNDS ARE PAID DIRECTLY TO THE COLLEGE OR UNIVERSITY THE RECIPIENT IS ATTENDING. X 1 1 X X 0 1 0 JAMES COLLINS CEO/TREASURER 294725 0 23940 0 0 0 12200 0 14689 0 345554 0 0 0 JEREMY FRANKLIN VP OF MORTGAGE LENDING 62815 0 212534 0 0 0 0 0 13189 0 288538 0 0 0 DAVID ECHTLE CHIEF LENDING OFFICER 173268 0 16493 0 0 0 25517 0 9515 0 224793 0 9296 0 TIMOTHY TIMMER COMMERCIAL LOAN OFFICER 88720 0 119830 0 0 0 0 0 12889 0 221439 0 0 0 MICHAEL LINDSEY MORTGAGE LOAN OFFICER (THRU 10/22) 20366 0 154953 0 0 0 2298 0 10511 0 188128 0 0 0 JENNIFER ROBERTS-ECHTLE CHIEF OPERATIONS OFFICER 132545 0 15259 0 0 0 23431 0 9991 0 181226 0 8541 0 WENDY AVILA SMALL BUSINESS LOAN OFFICER 103401 0 54619 0 0 0 6390 0 13189 0 177599 0 0 0 DANIEL HILDRETH SVP OF FINANCE 133924 0 14114 0 0 0 20581 0 7623 0 176242 0 8362 0 EDWIN MAGANA VP OF INFORMATION TECHNOLOGY 141808 0 7795 0 0 0 0 0 7896 0 157499 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS IS PAID FOR CERTAIN MEMBERS OF MANAGEMENT AND IS INCLUDED IN THE EMPLOYEE'S W-2. PART I, LINE 4B THE CREDIT UNION PARTICIPATES IN A 457(F) RETIREMENT PLAN FOR CERTAIN OFFICERS AND KEY EMPLOYEES. THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS TO THIS PLAN DURING 2022: DAVID ECHTLE - $17,767 JENNIFER ROBERTS-ECHTLE- $17,767 DANIEL HILDRETH - $15,000 THE FOLLOWING EMPLOYEES RECEIVED DISTRIBUTIONS FROM THIS PLAN DURING 2022: DAVID ECHTLE - $9,296 JENNIFER ROBERTS-ECHTLE- $8,541 DANIEL HILDRETH - $8,362 DANIEL HILDRETH SVP OF FINANCE AUTO X 24491 908 0 0 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER CREDIT CARD X 6986 2530 0 0 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER CREDIT CARD X 35000 28394 0 0 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER HELOC X 190183 143278 0 0 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER HELOC X 114000 51793 0 0 1 JENNIFER ROBERTS-ECHTLE CHIEF OPERATING OFFICER CREDIT CARD X 8385 492 0 0 1 DAVID ECHTLE CHIEF LENDING OFFICER CREDIT CARD X 10304 3429 0 0 1 DAVID ECHTLE CHIEF LENDING OFFICER HELOC X 20406 2524 0 0 1 JENNIFER ROBERTS-ECHTLE CHIEF OPERATING OFFICER AUTO X 25902 21322 0 0 1 JENNIFER ROBERTS-ECHTLE CHIEF OPERATING OFFICER CREDIT CARD X 2279 1650 0 0 1 EDWIN MAGANA VP OF INFORMATION TECHNOLOGY HELOC X 21129 19053 0 0 1 JEREMY FRANKLIN VP OF MORTGAGE LENDING AUTO X 37391 21983 0 0 1 MICHAEL LINDSAY MORTGAGE LOAN OFFICER CREDIT CARD X 1399 451 0 0 1 MICHAEL LINDSAY MORTGAGE LOAN OFFICER CREDIT CARD X 5000 4874 0 0 1 302681 FORM 990, PART VI, SECTION A, LINE 2 DAVE ECHTLE AND JENNIFER ROBERTS-ECHTLE HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS OPEN TO ANYONE WHO LIVES OR WORKS IN WASHINGTON STATE AS WELL AS BEING RELATED TO SOMEONE WHO IS A MEMBER OF O BEE AND IS IN GOOD STANDING, AND WHO LIVES OR WORKS IN WASHINGTON STATE. AN INDIVIDUAL IS CONSIDERED A MEMBER IF THEY HAVE A SHARE OR LOAN ACCOUNT WITH THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH CREDIT UNION MEMBER MAY VOTE FOR MEMBERS OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO 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 ANNUALLY, DIRECTORS AND KEY EMPLOYEES MUST SIGN A CODE OF ETHICS THAT INCLUDES CONFLICT OF INTEREST GUIDELINES AND INDICATE DISCLOSURE OF ANY CONFLICTS OF INTEREST. THIS IS MONITORED VIA REVIEW OF RESPONSES TO THE ANNUAL CODE OF ETHICS DISCLOSURE. IF THERE ARE ANY CHANGES TO THE PERSON'S EMPLOYMENT OR EXTRA-CURRICULAR ACTIVITIES, THEY ARE REQUIRED TO REPORT THAT TO HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15 CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS WITH THE ASSISTANCE OF AN OUTSIDE CONSULTANT AND INDUSTRY SALARY DATA AND IS DOCUMENTED IN THE CEO'S PERSONNEL FILE. OTHER OFFICERS OR KEY EMPLOYEE'S SALARIES ARE DETERMINED BY THE CEO AND VP OF HR USING INDUSTRY SALARY DATA AND IS DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022 FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE 5300 CALL REPORT. FORM 990, PART XI, LINE 9: INCREASE IN CREDIT UNION SERVICE ORGANIZATION INVESTMENT 393,174.