2023-11-02T18:44:38-05:00 2022-12-31 910189318 MOSS ADAMS LLP 2707 COLBY AVENUE SUITE 801 EVERETT WA 98201 990 2022-01-01 910333066 KITSAP CREDIT UNION KITS 3606622000 PO BOX 990 BREMERTON WA 98337 TREVOR STUART SVP/CHIEF FINANCIAL OFFICER 3606622000 2023-11-02 1 TREVOR STUART 999009999 0 COLLEEN RAMIRES P01251320 4252597227 2023-11-02 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SHAWN GILFEDDER PO BOX 990 BREMERTON WA 98337 104064944 0 X WWW.KITSAPCU.ORG X 1934 WA A NOT-FOR-PROFIT FINANCIAL COOPERATIVE OFFERING CHECKING, SAVINGS AND LENDING PROGRAMS AND RELATED SERVICES TO MEMBERS WHO PRIMARILY LIVE, WORK, OR WORSHIP IN THE STATE OF WASHINGTON. KITSAP CREDIT UNION (KCU) ALSO PROVIDES FINANCIAL LITERACY PROGRAMS AND IS ACTIVELY INVOLVED IN COMMUNITY OUTREACH PROGRAMS. 9 9 394 0 888686 0 0 0 80783208 92464010 5448594 11583487 0 0 86231802 104047497 382577 479999 0 0 28290433 29079138 0 0 0 38278378 53355461 66951388 82914598 19280414 21132899 2025562127 2255075377 1863644319 2136210327 161917808 118865050 TO OFFER CHECKING, SAVINGS, AND LENDING PROGRAMS TO MEMBERS WHO PRIMARILY LIVE, WORK, AND WORSHIP IN THE STATE OF WASHINGTON. KCU ALSO PROVIDES FINANCIAL LITERACY PROGRAMS AND IS ACTIVELY INVOLVED IN COMMUNITY OUTREACH PROGRAMS. 0 0 SECURED AND UNSECURED LOANS ISSUED TO CREDIT UNION MEMBERS, AS RELATED TO THE EXEMPT PURPOSE OF KCU. THE TYPES OF LOANS ISSUED INCLUDE DIRECT AND INDIRECT VEHICLE LOANS, VISA'S, HOME EQUITY LOANS, SOLAR LOANS, AND MORTGAGE LOANS. SAVINGS PROGRAMS THAT ARE PROVIDED TO CREDIT UNION MEMBERS, AS RELATED TO THE EXEMPT PURPOSE OF KCU. THE TYPES OF ACCOUNTS OFFERED ARE CHECKING, MONEY MARKET ACCOUNTS, IRA ACCOUNTS, REGULAR SAVINGS, AND CERTIFICATES. COMMUNITY INVOLVEMENT INCLUDING DONATION OF MONEY AND STAFF TIME IN THE COMMUNITY. KCU ALSO OFFERS MANY FINANCIAL LITERACY CLASSES FOR CHILDREN AND ADULTS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 29687 0 1 394 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X TREVOR STUART 3606622104 PO BOX 990 BREMERTON WA 98337 TONY BOLANDER CHAIR 8.00 X X 20000 0 0 WENDIE JOHNSON VICE CHAIR 8.00 X X 20000 0 0 JIM ROWSON TREASURER 8.00 X X 20000 0 0 SUSAN BAKER DIRECTOR 5.00 X 20000 0 0 SUSAN SIOBHAN CANTY DIRECTOR 8.00 X 20000 0 0 VICKI GAMBRELL SECRETARY 5.00 X X 15000 0 0 KAREN HOLMES DIRECTOR 5.00 X 15000 0 0 CRAIG OLSON DIRECTOR 5.00 X 15000 0 0 MIKE GOONEWARDENE DIRECTOR 5.00 X 15000 0 0 SHAWN GILFEDDER PRESIDENT/CEO 50.00 X 984689 0 23303 JAMES W PYRON SVP CMO 50.00 X 444880 0 15403 KELLIE D LETEXIER SVP COO 50.00 X 402881 0 17384 ANTHONY G BULLERI SVP CLO 50.00 X 337510 0 15384 SCOTT LINDLEY SVP CIO 50.00 X 320485 0 21024 TREVOR STUART SVP CFO 50.00 X 296131 0 12192 MARK GAULT VP STRATEGIC PLANNING 50.00 X 190976 0 14276 LAURA J ENQUIST VP MEMBER EXPERIENCE 50.00 X 194919 0 10092 JEREMY MANDERY VP LENDING & CREDIT ADMIN 50.00 X 180887 0 9031 JOHN P BARRY VP, REAL ESTATE LENDING 50.00 X 173123 0 15705 CARMINA DRUMMER VP, INDIRECT LENDING 50.00 X 175626 0 11043 3862107 0 164837 24 0 1 0 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING/BILL PAY SERVICE 2529362 GIBSON MEDIA INC 108 S WASHINGTON ST SUITE 204 SEATTLE WA 98104 ADVERTISING/CONSULTING 1540926 CORNERSTONE ADVISORS OF ARIZONA LLC 7272 E INDIAN SCHOOL RD SUITE 40 SCOTTSDALE AZ 85251 CONSULTING/NCP NEGOTIATION 1484863 VISA DPS PO BOX 742233 LOS ANGELES CA 90074 PLASTIC CARD DATA PROCESSING SERVICES 1188392 DCG ONE SEATTLE ENVELOPE COMPANY 4700 9TH AVE NW SEATTLE WA 98107 PRINTING/STATEMENT SERVICES 1118776 41 INTEREST ON LOANS 522130 68862382 68862382 INTERCHANGE INCOME 522130 12330955 12330955 FEE INCOME 522130 9466737 9466737 OTHER INCOME 522130 1803936 915250 888686 92464010 8474686 8474686 3126248 0 17447 3126248 -17447 3108801 3108801 104047497 91575324 888686 11583487 479999 3066769 19435920 892081 3796684 1887684 35931 180739 4962911 4043729 7563869 3919284 2496473 416872 7334346 1884107 482478 LOAN PROVISION 10451272 DEBIT CARD EXPENSES 3034413 LOAN EXPENSES 2882708 UBI TAXES 3066 3663263 82914598 24550416 27643327 231903926 153577422 29382578 35356687 5637808 5249637 1251427488 1612608467 5710819 6284097 56777493 28732151 30125585 28045342 391251583 312398232 1908215 12227236 223946 192000 53439763 61492930 2025562127 2255075377 13433943 235360950 1251387 1259025 336296 311234 1848622693 1899279118 1863644319 2136210327 X 0 0 0 0 161917808 118865050 161917808 118865050 2025562127 2255075377 21132899 -64185657 0 X 0 0 0 18453 0 0 18453 18453 1 CREDIT UNION LEGISLATIVE ACTION FUND 18000 INTERNATIONAL BLVD STE 1102 SEATAC WA 98188 800043051 18453 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTED TO A POLITICAL ACTION COMMITTEE WHOSE FUNDS ARE USED TO MAKE CONTRIBUTIONS TO SUPPORT THE ELECTION OF CREDIT UNION-FRIENDLY CANDIDATES FOR STATEWIDE OFFICE AND STATE LEGISLATURE. 0 1 X 6255035 6255035 33754702 13144441 20610261 4511319 4203733 307586 12202643 11383977 818666 53794 53794 28045342 MEMBER SHARES & DEPOSITS 1896201330 LEASE OBLIGATIONS 3077788 1899279118 PART IV, LINE 2B: ESCROW SHARES ARE USED TO PAY PROPERTY TAXES AND INSURANCE FOR MEMBERS WITH REAL ESTATE LOANS. 1 CENTRAL KITSAP SCHOOL DISTRICT PO BOX 8 SILVERDALE WA 98383 916006768 GOVT 100000 0 ATHLETIC COMPLEX SPONSORSHIP METRO PARKS TACOMA 4702 S 19TH ST TACOMA WA 98405 916000988 MUNI CORP/GOVT 41000 0 WILD WONDERS OUTDOOR THEATER SPONSORSHIP WWU FOUNDATION 516 HIGH STREET BELLINGHAM WA 98225 916073519 501(C)(3) 20000 0 SMALL BUSINESS DEVELOPMENT CENTER DONATION UNITED WAY OF KITSAP COUNTY 645 4TH STREET STE 101 BREMERTON WA 98337 910623990 501(C)(3) 16550 0 PREMIER SPONSORSHIP UNITED WAY OF PIERCE COUNTY 1501 PACIFIC AVE STE 400 TACOMA WA 98402 910650669 501(C)(3) 16000 0 CENTER FOR STRONG FAMILIES DONATION, BACK PACK FEEDING DONATION NORTH KITSAP FISHLINE PO BOX 1517 POULSBO WA 98370 911244431 501(C)(3) 13500 0 FOOD BANK SPONSORSHIP CENTRAL KITSAP FOOD BANK PO BOX 1185 SILVERDALE WA 98383 911425561 501(C)(3) 12750 0 FOOD BANK SPONSORSHIP BLACKBERRY FESTIVAL 245 FOURTH ST SUITE 202 BREMERTON WA 98337 562659178 501(C)(3) 12000 0 SPONSORSHIP SHARENET PO BOX 479 KINGSTON WA 98346 824153719 501(C)(3) 12000 0 BACK PACK FEEDING DONATION/FOOD BANK SPONSORSHIP GREATER GIG HARBOR FOUNDATION 7191 WAGNER WAY STE 102 GIG HARBOR WA 98335 432104829 501(C)(3) 11000 0 2022 STUDENTS OF DISTINCTION SPONSORSHIP, FOOD BANK DONATION UNITED NATIONS FOUNDATION 1750 PENNSYLVANIA AVE NW SUITE 300 WASHINGTON DC 20006 582368165 501(C)(3) 10000 0 MONETARY SUPPORT - DONATION BOYS & GIRLS CLUB SOUTH PUGET SOUND 3875 SOUTH 66TH ST STE 101 TACOMA WA 98409 910759832 501(C)(3) 10000 0 DINNER & AUCTION SPONSORSHIP/MASON CO. TEEN CENTER NORTHWEST HARVEST PO BOX 12272 SEATTLE WA 98102 910826037 501(C)(3) 10000 0 FOOD BANK SPONSORSHIP KITSAP ECONOMIC DEVELOPMENT ALLIANCE 2021 NW MYHRE RD STE 100 SILVERDALE WA 98337 911335188 501(C)(6) 10000 0 PARTNER INVESTMENT 2022 KITSAP COMMUNITY FOUNDATION PO BOX 3670 SILVERDALE WA 98383 943205217 501(C)(3) 10000 0 2022 KITSAP GREAT GIVE SPONSORSHIP SOUTHEASTERN CREDIT UNION FOUNDATION 3692 COOLIDGE COURT TALLAHASSEE FL 32311 592252733 501(C)(3) 10000 0 HURRICANE IAN RELIEF BAINBRIDGE ISLAND FC PO BOX 10949 BAINBRIDGE ISLAND WA 98110 943240968 501(C)(3) 7500 0 YOUTH SOCCER DONATION BREMERTON FOODLINE 1600 12TH ST BREMERTON WA 98337 911111086 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP CHIMACUM BACK PACKS FOR KIDS PO BOX 595 CHIMACUM WA 98325 830634299 501(C)(3) 6000 0 BACKPACK FEEDING DONATION COALITION OF CHURCHES PO BOX 1331 BELFAIR WA 98528 205496121 501(C)(3) 6000 0 BACKPACK FEEDING DONATION FOOD BACKPACK 4 KIDS PO BOX 173 GIG HARBOR WA 98335 800600633 501(C)(3) 6000 0 BACKPACK FEEDING DONATION GIG HARBOR PENINSULA FISH FOOD BANK 4425 BURNHAM DR GIG HARBOR WA 98332 911307991 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP GRAHAM SOUTH HILL FOOD BANK 1702 SOUTH 72ND ST STE E TACOMA WA 98408 911198391 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP HELPLINE HOUSE 282 KNECHTEL WAY NE BAINBRIDGE ISLAND WA 98110 910902503 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP NAVY - MARINE CORPS RELIEF SOCIETY 120 S DEWEY ST BLDG 853 BREMERTON WA 98314 530204618 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP PUYALLUP FOOD BANK PO BOX 202 PUYALLUP WA 98371 237259739 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP PARKWAY COMMUNITY SERVICES 7808 207TH ST CT E SPANAWAY WA 98387 821318383 501(C)(3) 6000 0 BACK PACK FEEDING DONATION NORTH MASON FOOD BANK 22471 E STATE ROUTE 3 BELFAIR WA 98528 943197896 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP PORT TOWNSEND KIWANIS CHARITABLE TRUST PO BOX 489 PORT TOWNSEND WA 98368 911567462 501(C)(3) 6000 0 BACK PACK FEEDING DONATION TRI-AREA FOOD BANK PO BOX 760 PORT HADLOCK WA 98339 911377493 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP PORT TOWNSEND FOOD BANK 1925 BLAINE STREET PORT TOWNSEND WA 98368 465747181 501(C)(3) 6000 0 FOOD BANK SPONSORSHIP SOUTH KITSAP HELPLINE 1012 MITCHELL AVE PORT ORCHARD WA 98366 911117868 501(C)(3) 6000 0 FOOD BANK DONATIONS BREMERTON BACKPACK BRIGADE PO BOX 2533 BREMERTON WA 98310 473779347 501(C)(3) 6000 0 BACKPACK FEEDING DONATION BACKPACKS FOR KIDS 4885 SW HOVDE RD PORT ORCHARD WA 98367 910832262 501(C)(3) 6000 0 BACKPACK FEEDING DONATION 33 1 PART I, LINE 2: THE CREDIT UNION CONSIDERS DONATIONS OR SPONSORSHIPS TO ORGANIZATIONS IN THE UNITED STATES IN ITS BRANCH SERVICE AREAS THAT EXHIBIT A NEED IN ONE OF THE CREDIT UNION'S TARGETED FOCUS AREAS INCLUDING, BUT NOT LIMITED TO: HOMELESSNESS/HOUSING, STABILITY/AFFORDABLE HOUSING, HUNGER/FOOD INSECURITY, AND EDUCATION/FINANCIAL WELLNESS. X 1 1 X X X 0 1 0 SHAWN GILFEDDER PRESIDENT/CEO 639343 0 340679 0 4667 0 15250 0 8053 0 1007992 0 0 0 JAMES W PYRON SVP CMO 343078 0 97041 0 4761 0 15250 0 153 0 460283 0 0 0 KELLIE D LETEXIER SVP COO 307580 0 91146 0 4155 0 15250 0 2134 0 420265 0 0 0 ANTHONY G BULLERI SVP CLO 271774 0 61064 0 4672 0 15250 0 134 0 352894 0 0 0 SCOTT LINDLEY SVP CIO 281350 0 34830 0 4305 0 15250 0 5774 0 341509 0 0 0 TREVOR STUART SVP CFO 283708 0 10000 0 2423 0 11192 0 1000 0 308323 0 0 0 MARK GAULT VP STRATEGIC PLANNING 163145 0 25645 0 2186 0 10006 0 4270 0 205252 0 0 0 LAURA J ENQUIST VP MEMBER EXPERIENCE 160992 0 32809 0 1118 0 9800 0 292 0 205011 0 0 0 JEREMY MANDERY VP LENDING & CREDIT ADMIN 161324 0 18931 0 632 0 9031 0 0 0 189918 0 0 0 JOHN P BARRY VP, REAL ESTATE LENDING 151624 0 20227 0 1272 0 8931 0 6774 0 188828 0 0 0 CARMINA DRUMMER VP, INDIRECT LENDING 162475 0 12837 0 314 0 8909 0 2134 0 186669 0 0 0 PART I, LINE 1A APPROVED PAID TRAVEL EXPENSES FOR BOARD MEMBER AND OFFICER GUESTS AS PER WRITTEN POLICY AND ARE INCLUDED IN TAXABLE COMPENSATION AS APPROPRIATE. PART I, LINE 4B IN 2022, SHAWN GILFEDDER PARTICIPATED IN A SPLIT DOLLAR LOAN PLAN. SHAWN GILFEDDER PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 5483679 5249637 0 1 1 5249637 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION OPERATES AS A CREDIT UNION CONSISTING OF ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS ARE ELECTED FOR A 3-YEAR TERM AND CAN RUN FOR RE-ELECTION. NEW DIRECTORS ARE APPROVED BY EXISTING DIRECTORS TYPICALLY, BUT MEMBERS WILL APPROVE THE DIRECTORS IF THE NUMBER OF DIRECTORS NOMINATED EXCEEDS THE OPENINGS. BALLOTS ARE MAILED TO MEMBERS ONLY WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD MEMBERS, ACCOUNTING DIRECTOR, ACCOUNTING SUPERVISOR, AND SVP/CFO REVIEW THE RETURN FOR ACCURACY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CODE OF CONDUCT IS REQUIRED TO BE REVIEWED AND SIGNED (WITH OR WITHOUT DISCLOSURES) OR ACKNOWLEDGED (BY ELECTRONIC SIGNATURE) UPON HIRE FOR NEW EMPLOYEES AND ANNUALLY THEREAFTER FOR ALL STAFF, OFFICIALS, AND DIRECTORS. NO DIRECTOR OR COMMITTEE MEMBER OF THE CREDIT UNION WILL PARTICIPATE IN THE DELIBERATION OF ANY QUESTION AFFECTING HIS/HER OWN, IMMEDIATE FAMILY MEMBER'S, OR HOUSEHOLD MEMBER'S PECUNIARY INTEREST. SUCH DIRECTOR OR COMMITTEE MEMBER WILL WITHDRAW FROM THE DELIBERATION AND DECISION UPON SUCH INTEREST. ANY POTENTIAL CONFLICT CONCERNING A BOARD MEMBER WOULD BE ADDRESSED BY THE BOARD CHAIR, AND IF APPROPRIATE, THE BOARD AND/OR CEO. A BOARD MEMBER WHO DOES NOT ABIDE BY THE CODE OF CONDUCT MAY BE SUSPENDED OR REMOVED HIS OR HER POSITION. A POTENTIAL CONFLICT INVOLVING A STAFF MEMBER WOULD BE ADDRESSED BY MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 15 KITSAP CREDIT UNION USED AN OUTSIDE COMPENSATION CONSULTANT (ONE FOR STAFF AND ANOTHER FOR EXECUTIVE COMPENSATION) TO DETERMINE MARKET RANGES FOR PAY FOR ALL POSITIONS IN 2022. THE HUMAN RESOURCES DEPARTMENT WORKS WITH THE CONSULTANTS TO ENSURE PAY RANGES ARE COMPETITIVE AND WITHIN THE MARKET. ACTUAL INDIVIDUAL PAY FOR THE CEO IS DETERMINED BY AND VOTED ON ANNUALLY BY THE BOARD OF DIRECTORS. PAY FOR OFFICERS IS DETERMINED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 KITSAP CREDIT UNION MAKES THE QUARTERLY FINANCIAL STATEMENTS AVAILABLE VIA NCUA AFTER QUARTERLY CALL REPORT IS FILED. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS, SUCH AS ARTICLES OF INCORPORATION, ARE AVAILABLE UPON REQUEST.