2025-07-17T11:54:31-05:00 2024-12-31 390758449 WIPFLI LLP 105 E PINE ST UPPER FLOOR MISSOULA MT 59802 990 2024-01-01 237155544 PARK SIDE FINANCIAL CREDIT UNION PARK 4068622652 1300 BAKER AVE WHITEFISH MT 59937 JEREMY PRESTA CEO 4068622652 2025-07-16 1 1 SAM BRUNSON CPA P01696998 4067281800 2025-07-16 2024 2025-03-06 01:10:19Z JEREMY PRESTA 1300 BAKER AVE WHITEFISH MT 59937 37019719 0 X PARKSIDEFCU.COM X 1965 MT PARK SIDE IS A NOT FOR PROFIT FINANCIAL COOPERATIVE THAT PROVIDES FINANCIAL SERVICES TO ITS MEMBERS. 9 9 104 12 129490 0 0 0 18815832 19930686 893089 1210685 44645 47543 19753566 21188914 55569 66834 0 0 7119875 7313799 0 0 0 12122847 13793430 19298291 21174063 455275 14851 397774451 377195754 368508499 347629309 29265952 29566445 X WE WILL BE THE BEST PLACE FOR THE PEOPLE OF WESTERN MONTANA TO GET A LOAN. 0 0 PARK SIDE FINANCIAL CREDIT UNION IS A MEMBER-OWNED CO-OPERATIVE OFFERING A DIVERSE VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS PRIMARY FINANCIAL SERVICES ARE PROVIDING REAL ESTATE LOANS, CONSUMER LOANS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, AND TIME DEPOSITS TO ITS MEMBERS.AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 975 REAL ESTATE LOANS WITH A VALUE OF $160,842,239.AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 11,371 CONSUMER LOANS WITH A VALUE OF $121,774,243.AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 18,069 CHECKING ACCOUNTS WITH A VALUE OF $73,451,356. AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 34,396 SAVINGS ACCOUNTS WITH A VALUE OF $146,299,227. AT DECEMBER 31, 2024 PARK SIDE FINANCIAL CREDIT UNION HAS 2,866 TIME DEPOSIT ACCOUNTS WITH A VALUE OF $119,883,490. 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 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 7668 0 1 104 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 1 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X TROY BRACKEY 4068622652 1300 BAKER AVE WHITEFISH MT 59937 CARL THOMAS CHAIR 1.00 X X 0 0 0 RICK FLINK VICE CHAIR (THRU 8/24) 1.00 X X 0 0 0 SCOTT ROBERTS VICE CHAIR 1.00 X X 0 0 0 DAVE SUTHERLAND SECRETARY/TREASURER 1.00 X X 0 0 0 TERRY THORPE DIRECTOR 1.00 X 0 0 0 RON JAROSCH DIRECTOR 1.00 X 0 0 0 DIANA LAMERS DIRECTOR 1.00 X 0 0 0 RICH PEDERSON DIRECTOR 1.00 X 0 0 0 DARIA PEREZ DIRECTOR 1.00 X 0 0 0 MITCH LUCAS DIRECTOR 1.00 X 0 0 0 JEREMY PRESTA CEO 40.00 X 284153 0 34337 TROY BRACKEY CFO 40.00 X 284220 0 24465 MAUREEN BRYAN SENIOR VP OF HR 40.00 X 226209 0 19311 CAROL BENIGER VP OF LENDING 40.00 X 137597 0 26210 JOSH KROLL VP OF MARKETING 40.00 X 130407 0 25853 LAURA SCOVILLE VP OF BACK OFFICE OPERATIONS 40.00 X 132273 0 22557 TERESA SHORT VP OF IT 40.00 X 130653 0 15077 ALISA MCCONKEY VP OF OPERATIONS 40.00 X 125966 0 27707 1451478 0 195517 8 0 1 0 HAMMERQUIST CASALEGNO 1417 1ST AVE EAST KALISPELL MT 59901 GENERAL CONTRACTOR - NEW BRANCH 2694747 VALERA 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CARD SERVICING 1080132 MEMBER DRIVEN TECHNOLOGIES 30230 ORCHARD LAKE RD FARMINGTON HILLS MI 48334 DATA PROCESSING 758351 COOK SOLUTIONS GROUP INC 9225 NE CASCADES PARKWAY PORTLAND OR 97220 ITM SERVICES AND MAINTENANCE VENDOR 455154 VISA 1655 GRANT STREET CONCORD CA 94520 CARD SERVICING 376719 12 INTEREST ON LOANS 522100 15114067 15114067 FEES AND CHARGES 522100 4816619 4687129 129490 19930686 1200349 1200349 47543 0 47543 47543 47543 15841141 15830805 10336 10336 10336 21188914 19801196 129490 1258228 66834 872695 4994237 316060 706466 424341 10614 140887 1574068 561720 960654 449840 95373 853269 526479 110825 DIVIDENDS ON MEMBER SHA 5543824 CREDIT CARD & TRANSACTI 1399804 ATM EXPENSE 916617 PROVISION FOR LOAN LOSS 238848 410608 21174063 7695087 7813042 5874068 19721476 960131 935430 2873265 2923547 314276567 281692624 777072 901624 17700045 6583688 11836031 11116357 32760303 28418393 12855032 11935884 7866895 11737377 397774451 377195754 1381065 1429529 22000000 3000000 3000000 3000000 342127434 340199780 368508499 347629309 X 4396347 4396347 0 0 24869605 25170098 29265952 29566445 397774451 377195754 14851 285642 0 X X 0 1 X 1 0 4118619 4118619 8723258 2650660 6072598 802748 395528 407220 3886648 3368728 517920 168772 168772 0 11116357 MEMBER'S SHARES AND CERTIFICATES OF DEPOSIT 339634072 OPERATING LEASE LIABILITY 565708 340199780 X 21188914 0 21188914 0 21188914 21174063 0 21174063 0 21174063 PART X, LINE 2: THE CREDIT UNION IS GENERALLY EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE CORPORATE BUSINESS TAX. HOWEVER, THE CREDIT UNION IS SUBJECT TO FEDERAL TAX ON NET UNRELATED BUSINESS INCOME. THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE FINANCIAL STATEMENTS. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. X X X 0 1 0 JEREMY PRESTA CEO 280181 0 755 0 3217 0 16827 0 17510 0 318490 0 0 0 TROY BRACKEY CFO 283452 0 768 0 0 0 14137 0 10328 0 308685 0 0 0 MAUREEN BRYAN SENIOR VP OF HR 225462 0 747 0 0 0 7475 0 11836 0 245520 0 0 0 CAROL BENIGER VP OF LENDING 128761 0 8836 0 0 0 10166 0 16044 0 163807 0 0 0 JOSH KROLL VP OF MARKETING 121571 0 8836 0 0 0 9470 0 16383 0 156260 0 0 0 LAURA SCOVILLE VP OF BACK OFFICE OPERATIONS 123437 0 8836 0 0 0 9876 0 12681 0 154830 0 0 0 ALISA MCCONKEY VP OF OPERATIONS 117100 0 8866 0 0 0 9302 0 18405 0 153673 0 0 0 PART I, LINE 4B JEREMY PRESTA PARTICIPATES IN A SPLIT DOLLAR LIFE INSURANCE AGREEMENT WITH THE ORGANIZATION. JEREMY DID NOT RECEIVE ANY DISTRIBUTIONS FROM THIS PLAN DURING 2024. JEREMY PRESTA EMPLOYEE SPLIT-DOLLAR LIFE INSURANCE X 2495000 2923547 0 1 1 2923547 FORM 990, PART VI, SECTION A, LINE 5 AN EMPLOYEE EMBEZZLED $389,000 FROM THE VAULT AT OUR LOCATION ON GREAT NORTHERN AVE IN MISSOULA, MT. ADDITIONALLY, TWO OF OUR ATM'S WERE THE SUBJECTS OF A MAN IN THE MIDDLE ATTACK. ONE ATM HAD $4,200 STOLEN, AND THE OTHER ATM HAD $55,800 STOLEN. INSURANCE CLAIMS WERE MADE FOR ALL THREE INCIDENTS. INSURANCE PAID $374,000 FOR THE EMPLOYEE THEFT AFTER A $15,000 DEDUCTIBLE. FOR THE ATM ATTACKS, INSURANCE PAID A TOTAL OF $35,000 AFTER A $25,000 DEDUCTIBLE. REGARDING THE EMPLOYEE THEFT, THE EMPLOYEE WAS PROSECUTED IN COURT AND ORDERED TO PAY $389,000 IN RESTITUTION. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION CONSISTS OF MEMBERS. TO BE A MEMBER, ONE MUST MAINTAIN A SHARE/SAVINGS ACCOUNT WITH A MINIMUM $5.00 BALANCE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ARE ENTITLED TO VOTE IN THE ANNUAL ELECTION OF THE BOARD OF DIRECTORS AND ON OTHER MATTERS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS WILL REVIEW AND APPROVE THE 990 PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION IS REQUIRED TO DISCLOSE AND MONITOR CONFLICTS OF INTEREST. THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO ALL EMPLOYEES, BOARD AND/OR COMMITTEE MEMBERS, AND FAMILY MEMBERS THEREOF. CONFLICTS OF INTEREST ARE REPORTED TO THE ENTIRE BOARD, AND THE BOARD WILL REVIEW ALL CONFLICTS. THE ORGANIZATION DOES NOT ALLOW FOR TRANSACTIONS THAT CREATE CONFLICTS OF INTEREST. ALL TRANSACTIONS WITH OUTSIDE FIRMS, FRIENDS OR FAMILY MEMBERS THAT ARE DISCLOSED AND DEEMED NOT TO PRESENT A CONFLICT OF INTEREST MUST BE CONDUCTED AT ARM'S LENGTH AND IN THE BEST INTEREST OF THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD ESTABLISHES AND APPROVES CEO COMPENSATION. OTHER OFFICERS AND C-LEVEL OFFICERS HAVE COMPENSATION DETERMINED BY EXTERNAL CUNA SALARY SURVEYS. THIS TAKES PLACE ANNUALLY. THE LAST TIME IT TOOK PLACE WAS AT THE NOVEMBER 2024 BOARD MEETING FOR ALL EXECUTIVE STAFF. ALL ADJUSTMENTS ARE MADE EFFECTIVE JANUARY 1. THE ORGANIZATION RETAINS RECORDS OF THE CALCULATION OF AMOUNTS AND BOARD MEETING MINUTES WITH THE APPROVAL OF THE BUDGET. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE PROVIDED TO THE PUBLIC FOR VIEWING WITHIN OUR BRANCH LOBBIES (THE FINANCIALS ARE POSTED TO THE BRANCH LOBBIES ON A MONTHLY BASIS). FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.