2025-05-14T08:48:08-04:00 2024-12-31 990 2024-01-01 910176216 CREDIT UNIONS IN THE STATE OF WASHINGTON TAPCO CREDIT UNION % Justin Martin CRED 2536203241 6312 19th Street West Tacoma WA 98466 Kathy Scholes CFO 2025-05-14 false 2024 2025-03-06 01:10:19Z Justin Martin 6312 19th Street West Tacoma WA 98466 37910900 false X www.tapcocu.org X 1934 WA 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. 9 9 125 13 86128 0 0 0 29567774 35184857 2680496 2578100 2101 8072 32250371 37771029 22500 25000 6105100 10387316 10566664 11348588 0 0 0 11255610 12609880 27949874 34370784 4300497 3400245 653069678 658730229 600614014 601253948 52455664 57476281 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. false false 10387316 0 5806583 Provides financial products and services to over 30,325 members including more than 20,472 consumer real estate and business loans and over 56,849 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. 0 0 0 TAPCO has been a part of the Tacoma-Pierce County community for 91 years. We continue to focus on our tagline "Rooted in South Sound," which embodies our vision mission and values emphasizing our commitment to the credit union philosophy of "people helping people." In 2024 our staff board supervisory committee members and membership dedicated their time and money to support local community programs and events. Through these events over $106,500 was donated and $25,000 was granted in scholarships. 0 0 29378274 We continued to increase member loans significantly. TAPCOs loan portfolio is distributed across many loan types including over $155 million in mortgages and equity loans over $245 million in auto loans and over $96 million in commercial loans. TAPCO Peak Member Rewards Program recognizes members financial relationship with TAPCO and offers better rates and free services. Reward benefits may apply to all family members living in the same household by linking family memberships your high school and college student or other family. We continued to look for ways to better serve our members near where they live and work. 10387316 false false false false false false false false false true false false false true false false false false false false false false false false false false false true true false true false false false false false false false false false false false false false true 5764 0 true 125 true true true false false false false false false false X 9 9 false false false false true true false true false false false true true true true true true true true false X Kathy Scholes 2536203241 6312 19th Street West Tacoma WA 98466 John OLoughlin Supervisory Committee 1.00 0.00 X 825 0 0 Brent Bomkamp Supervisory Committee 1.00 0.00 X 700 0 0 Lindsey Wade Board Member 1.00 0.00 X 0 0 0 Bruce Baurichter Board Secretary 2.00 0.00 X X 1954 0 0 Patricia Bosmans Board Member 1.00 0.00 X 0 0 0 Louis Cooper JR Board Member 1.00 0.00 X 0 0 0 Rob Masko Board Chair 2.00 0.00 X X 1041 0 0 Pat McElligot Board Member 1.00 0.00 X 1179 0 0 Gene Miller Board Member 1.00 0.00 X 750 0 0 Clara Nelson Board Vice Chair 2.00 0.00 X X 0 0 0 Alex Wilsie Board Member 1.00 0.00 X 587 0 0 John Sinclair Supervisory Committee 1.00 0.00 X 1047 0 0 Julie Williams Supervisory Committee 1.00 0.00 X 0 0 0 Justin Martin CEO 40.00 0.00 X 539609 0 31911 William Peters CXO 40.00 0.00 X 300551 0 39919 Kathleen Scholes CFO 40.00 0.00 X 244553 0 24916 Jason Allen CIO 40.00 0.00 X 237565 0 15674 Sarah Gray CPIO 40.00 0.00 X 236675 0 19178 Jeremy Mandery CLO 40.00 0.00 X 77958 0 2348 Heather Fate VPME 40.00 0.00 X 152274 0 10210 Mitch Jackson VPCL 40.00 0.00 X 138379 0 9419 John Gaythorpe DIRITOI 40.00 0.00 X 117448 0 7905 Terri LaCoy DOF 40.00 0.00 X 116376 0 7860 Patty Jackson DOLS 40.00 0.00 X 115899 0 8116 Mike Ladoe DCL 40.00 0.00 X 106048 0 11582 2391418 0 189038 11 false true false MOMENTUM INC 109 BELL STREET SUTE B SEATTLE WA 98121 REMODELS/NEW BRANCH BUILD 2587757 FISERV PO BOX 208457 DALLAS TX 753208457 BANKING CORE, ACCOUNTING CORE 1355875 LUMIN DIGITAL 3001 BISHIP DR SUTE 110 SAN RAMON CA 94583 ONLINE BANKING, MOBILE BANKING 875616 CO-OP SOLUTIONS 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 CARD PROCESSING, CHARGEBACKS, FRAUD PREV 861422 VELERA 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CARD PROCESSING, CHARGEBACKS, FRAUD PREV 603909 5 0 0 0 0 0 0 0 0 INTEREST ON LOANS TO MEMBERS 522100 29378274 29378274 0 0 OTHER NON-INTEREST INCOME 522100 3104907 3057086 47821 0 FEE INCOME 522100 1847910 1809603 38307 0 OTHER MISCELLANEOUS INCOM 522100 853766 853766 0 0 35184857 2581760 0 0 2581760 0 0 0 0 0 0 0 0 144283 0 136211 0 8072 0 8072 0 0 8072 0 0 3660 0 -3660 0 -3660 -3660 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 37771029 35095069 86128 2589832 0 0 25000 0 0 0 10387316 10387316 1653190 0 0 0 0 0 0 0 6835446 0 0 0 490572 0 0 0 1695556 0 0 0 673824 0 0 0 0 0 0 0 4829 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 666563 0 0 0 493827 0 0 0 5354566 0 0 0 0 0 0 0 0 0 0 0 573941 0 0 0 186931 0 0 0 120471 0 0 0 0 0 0 0 1168603 0 0 0 0 0 0 0 776410 0 0 0 0 0 0 0 LOAN SERVICING EXPENSES 1608821 0 0 0 LOANS PROVISION 1550674 0 0 0 ASSOCIATION FEES 99287 0 0 0 MISCELLANEOUS OPERATING 4957 0 0 0 34370784 10387316 0 0 3201273 2644589 27212334 58231483 0 0 0 0 3484866 7246743 0 0 536843463 514915271 0 0 4896819 4341371 21271320 7802891 10088561 13468429 48843050 25688143 498000 19875000 0 0 0 0 18001312 12319200 653069678 658730229 5536993 2828602 0 0 0 0 0 0 0 0 0 0 34999999 0 1694805 1666818 558382217 596758528 600614014 601253948 X 0 0 0 0 52455664 57476281 52455664 57476281 653069678 658730229 3400245 1620372 0 0 0 0 X false true X true false 0 3376024 3376024 0 9934718 4706334 5228384 0 233309 221644 11665 0 5525402 1727060 3798342 0 2201867 1147853 1054014 13468429 Member total deposits 596758528 596758528 true Scholarships 10 25000 0 Part I Line 2 Scholarship funds are awarded by a committee of the board and checks are made out directly to the educational institutions. Part III Column (b) | Type of grant or assistance:, Number of recipients:, How number of recipients was estimated?:| Scholarships, 10, Committee| X false true false Justin Martin CEO 397743 0 100291 0 41575 0 19075 0 12836 0 571520 0 0 0 William Peters CXO 250619 0 18538 0 31394 0 30999 0 8920 0 340470 0 0 0 Kathleen Scholes CFO 216149 0 14170 0 14234 0 24916 0 0 0 269469 0 0 0 Jason Allen CIO 210346 0 13320 0 13899 0 15674 0 0 0 253239 0 0 0 Sarah Gray CPIO 207150 0 13297 0 16228 0 18393 0 785 0 255853 0 0 0 Heather Fate VPME 132139 0 6236 0 13899 0 10210 0 0 0 162484 0 0 0 Part I Line 3 THE BOARD REVIEWS THE CEO AND UTILIZES THE COMPEASE PAY DATA AS A GUIDELINE FOR COMPENSATION. Justin Martin CEO Split Dollar Life Insurance X 1968400 1720431 false true true William Peters COO Split Dollar Life Insurance X 2318800 1794392 false true true Justin Martin CEO Split Dollar Life Insurance X 4066300 3731920 false true true 7246743 Part VI, Section A, Line 6 Tapco Credit Union has members as specified in its bylaws. Part VI, Section A, Line 7a | Class of the Person:, Nature of their rights:| To become a member you need to have $25.00 in a membership savings account., Tapco CU's board of directors is elected by its members at the annual meeting.| Part VI, Section A, Line 8b Regular Board of Directors Meetings are set for the fourth Wednesday monthly unless rescheduled. A minimum of 6 meetings annually with one per quarter is mandatory. All agenda items must be written and sent to the Board Chair a week before the meeting. Minutes are recorded for Annual and Special Membership Meetings external audits and financial statements. Part VI, Section B, Line 11b The 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. Part VI, Section B, Line 12c It is Tapco CUs 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 Tapcos 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. Internal policies describe situations that would constitute a conflict of interest such as receiving gifts that exceed $100 profiting personally through commissions loans expense reimbursements or other payments holding any interest in an organization that competes with Tapco and being employed by or serving on the board of any organization which does or is seeking to do business with Tapco. Part VI, Section B, Line 15 | Name of the Person:, The process used to establish compensation of the person who served in:|, The year in which this process was last undertaken:| Justin Martin, The board reviews the CEO and utilizes the compease pay data as a guideline for compensation., 2024| 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.