2021-05-17T12:40:05-05:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-01-01 910712539 WHATCOM EDUCATIONAL CREDIT UNION WHAT 3606761168 21 BELLWETHER WAY NO 111 BELLINGHAM WA 98225 NICHOLAS HODSON CHIEF FINANCIAL OFFICER 3607567716 2021-05-14 1 NICHOLAS HODSON 999009999 MARY C GREEN P00447183 6022662248 2021-05-14 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JENNIFER KUTCHER 21 BELLWETHER WAY NO 111 BELLINGHAM WA 98225 86321863 0 X WWW.WECU.COM X 1936 WA OUR MISSION IS TO MAKE A MEANINGFUL DIFFERENCE IN THE LIVES OF OUR MEMBERS. 9 9 477 11 32682 25488 0 0 83190686 82593135 2907994 1677237 814686 1647466 86913366 85917838 228842 341686 9201355 5141607 33821312 37477000 0 0 0 28930541 28043462 72182050 71003755 14731316 14914083 1712782397 2136316633 1453723572 1862343725 259058825 273972908 X 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. 0 0 LOAN PORTFOLIO (CREDIT CARDS, AUTO, PERSONAL AND OTHER TYPES):LOANS TO MEMBERS INCREASED BY 1.3%% OR $18.93 MILLION FROM 2019 TO 2020. CONSUMER LENDING EXPERIENCED LOWER PRODUCTION YEAR OVER YEAR. THE HIGHEST PRODUCTION MONTHS ARE TYPICALLY IN THE SUMMER. THIS YEAR BECAUSE OF THE PANDEMIC, THE SPRING AND SUMMER MONTHS (APRIL THROUGH SEPTEMBER) RESULTED IN 90.36% LESS VOLUME THAN THE SAME PERIOD IN 2019. THIS DECLINE REPRESENTS $49.7 MILLION LESS IN FUNDING. ALTHOUGH TYPICALLY A LOWER VOLUME TIME OF THE YEAR, THE 4TH QUARTER OF 2020 INCREASED BY 40.35% OR $16.43 MILLION. THIS IS SIGNIFICANT AS THE INDIRECT PORTFOLIO CURRENTLY REPRESENTS 23.19% OF THE TOTAL PORTFOLIO. THE CONSUMER LENDING TEAM IS POSITIONING THEMSELVES TO INCREASE PRODUCTION IN INDIRECT IN 2021.CONSUMER REAL ESTATE, ON THE OTHER HAND, HAD A HIGH-WATER MARK YEAR WITH AN INCREASE IN ORIGINATIONS OF 108.2% OR $151.51 MILLION. THE LOW-RATE ENVIRONMENT COUPLED WITH APPRECIATING PROPERTY VALUES PROVIDED MEMBERS WITH A GREAT OPPORTUNITY TO DECREASE THEIR MONTHLY PAYMENT OR CONDUCT A CASH-OUT REFINANCE. CONSUMER REAL ESTATE HELPED 1,118 MEMBERS BY FUNDING $291.51 MILLION.THE BUSINESS BANKING TEAM HAD A BANNER YEAR IN MANY WAYS. THE ONSET OF THE PANDEMIC AND THE PASSING OF THE CARES ACT PROVIDED AN OPPORTUNITY TO PROVIDE MEANINGFUL ASSISTANCE TO BUSINESS MEMBERS WHO WERE, OR POTENTIALLY WOULD BE, IMPACTED BY THE SLOWING OF COMMERCE RESULTING FROM THE PANDEMIC. IN APRIL OF 2020, THE BUSINESS BANKING TEAM WORKED TO QUICKLY STAND UP A SYSTEM TO INTAKE AND UNDERWRITE PAYCHECK PROTECTION PROGRAM (PPP) LOANS. OVER THE FOLLOWING DAYS AND MONTHS, WECU FUNDED 920 PPP LOANS FOR OVER $36 MILLION. THIS HAD A DIRECT IMPACT ON NEARLY 5,000 LOCAL JOBS. INCLUDING THE PPP LOANS, BUSINESS BANKING FUNDED $110 MILLION THROUGH 2020. DEPOSITS AND LIQUIDITY:DEPOSITS INCREASED SIGNIFICANTLY IN 2020. THE RESULT OF WECU'S LIQUIDITY PICTURE TOOK A DRAMATIC TURN IN 2020 AS MEMBERS AND BUSINESS MEMBERS ALIKE RECEIVED GOVERNMENT AID FROM THE CARES ACT IN THE FORM OF INCREASED UNEMPLOYMENT, STIMULUS CHECKS, AND THE PAYCHECK PROTECTION LOANS. ALL THE GOVERNMENT ACTIVITIES RESULTED IN INCREASED DEPOSITS. THIS COUPLED WITH THE CHANGE IN CONSUMER BEHAVIOR AND SPECIFICALLY THE SLOWDOWN IN TRAVEL AND LEISURE ACTIVITIES HAD AN EXTREME IMPACT. TOTAL CASH AND CASH EQUIVALENTS INCREASED BY 288.1% OR $411.66 MILLION ENDING THE YEAR WITH TOTAL BALANCES OF $554.56 MILLION. THE MOST SIGNIFICANT DEPOSIT GROWTH CAME FROM BUSINESS MEMBERS. THE INCREASE WAS ACHIEVED IN PART THROUGH THE PAYCHECK PROTECTION PROGRAM LOANS AND THE DEPOSITED PROCEEDS, BUT ALSO FROM INCREASED ADOPTION OF OUR NEW BUSINESS DEPOSIT PRODUCTS. CHECKING ACCOUNTS AT WECU OFFER MAXIMUM CONVENIENCE WITH NO OR FEW FEES. WE HAVE A VARIETY OF CHECKING ACCOUNT OPTIONS, INCLUDING NO FEE ACCOUNTS AND INTEREST BEARING ACCOUNTS. CHECKING ACCOUNTS ARE MADE MORE CONVENIENT WITH MOBILE BANKING, MOBILE DEPOSIT CAPTURE, DEPOSIT TAKING ATMS, VISA DEBIT CARD, AROUND THE CLOCK ACCESS WITH ONLINE BANKING, DIRECT DEPOSIT AND AUTOMATIC PAYMENTS. OVERDRAFT PROTECTION IS ALSO AVAILABLE ON ALL CHECKING ACCOUNTS. 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 MARCH, HELPING MEMBERS AND THE COMMUNITY AT LARGE THROUGH THE PANDEMIC BECAME A PRIMARY FOCUS. THIS WAS DEMONSTRATED THROUGH SEVERAL ACTIVITIES THROUGHOUT THE YEAR. ONE SUCH AREA IS THE SUPPORT OF SMALL BUSINESSES WHERE WECU PARTICIPATED IN THE PAYCHECK PROTECTION PROGRAM BY HELPING 920 BUSINESSES SECURE $36 MILLION IN BALANCES. WECU'S PARTICIPATION IN THIS PROGRAM ALLOWED BUSINESSES TO BRING THOSE FUNDS TO WHATCOM COUNTY IMPACTING NEARLY 5,000 LOCAL JOBS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 39632 0 477 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X NICHOLAS HODSON 3606761168 21 BELLWETHER WAY SUITE 111 BELLINGHAM WA 98225 JENNIFER E KUTCHER PRESIDENT/CEO/TREASURER 50.00 X 697277 0 74621 JEFFREY R DYKSTRA EXECUTIVE VICE PRESIDENT 45.00 X 340988 0 61251 JACK INGRAM CHIEF INFORMATION OFFICER 45.00 X 320375 0 57738 NICHOLAS A HODSON CHIEF FINANCIAL OFFICER 45.00 X 278898 0 53324 CYNTHIA CHASE KLEIN CHIEF HUMAN RESOURCES OFFICER 45.00 X 256701 0 52490 ERYNNE MARIA HALLOCK VP, RETAIL DELIVERY 45.00 X 224385 0 49304 DAVID PIERCE JONES CHIEF MARKETING OFFICER 45.00 X 223144 0 32319 KENT D BOUMA VP, BUSINESS BANKING 45.00 X 195500 0 46715 MATTHEW HENRY BERENDSEN VP, LENDING 45.00 X 194332 0 46130 MICHAEL PETER YEEND CREDIT ANALYSIS TEAM LEADER 40.00 X 184095 0 36334 GRANT DYKSTRA BUSINESS BANKING SENIOR LOAN OFFICER 40.00 X 174662 0 42868 DAVID DODGE DIRECTOR, IT INFRASTRUCTURE 40.00 X 173504 0 32444 AARON HEATH WHITSON CREDIT ADMINISTRATOR 40.00 X 164493 0 41407 ANDREW WHALEY DIRECTOR, ENTERPRISE APPLICATIONS 40.00 X 158735 0 41572 DAVID WASCHKE SECRETARY 4.00 X X 1289 0 0 GABRIEL MAST DIRECTOR 4.00 X 663 0 0 HARTE BRESSLER CHAIR 4.00 X X 0 0 0 KRISTI LEWIS TYRAN VICE CHAIR 4.00 X X 0 0 0 CAROL LAGER DIRECTOR 4.00 X 0 0 0 ASHOK KHANNA DIRECTOR 4.00 X 0 0 0 CATHIE OBERG DIRECTOR 4.00 X 0 0 0 MARGO HAMMOND DIRECTOR 4.00 X 0 0 0 DALE ZENDER DIRECTOR 4.00 X 0 0 0 3589041 0 668517 41 0 1 0 JACK HENRY & ASSOCIATES (JHA) 663 W HWY 60 PO BOX 609 MONETT MO 65708 VISA CARD PROCESSOR 1077838 STRATEGIC RESOURCE MANAGEMENT INC 5100 POPLAR AVE SUITE 2500 MEMPHIS TN 381372501 CONSULTING SERVICES 827954 AMERICAN REPORTING COMPANY LLC 6628 212TH ST SW LYNNWOOD WA 98036 APPRAISAL SERVICES 721190 INFOIMAGE INC 175 S HILL DR BRISBANE CA 94005 MEMBER STATEMENT PROCESSING SERVICES 590803 DIEBOLD INCORPORATED 5995 MAYFAIR RD NORTH CANTON OH 44720 ATM SUPPLIER AND SERVICER 566127 22 INTEREST ON LOANS TO MEMBERS 522100 60242963 60242963 INTERCHANGE INCOME 522100 10309287 10309287 SERVICE CHARGES AND FEES 522100 8257353 8224671 32682 GAIN ON SALE OF LOANS 522100 3783532 3783532 82593135 1682302 1682302 39840 0 39840 39840 39840 398960 404025 -5065 -5065 -5065 OTHER INCOME 900099 1607626 1607626 1607626 85917838 82560453 32682 3324703 223686 118000 5141607 3207445 24993820 2260869 4864795 2150071 90148 176203 13000 2006359 608101 2517212 4865617 2338333 61396 198872 251006 2860908 10926 PROVISION FOR LOAN LOSS 5993797 CREDIT CARD EXPENSES 4109416 ATM EXPENSES 1015245 OTHER EXPENSES 926923 71003755 29765822 32886533 112034670 520323854 11642744 11978060 1477228904 1490671497 2491804 3178980 56325727 20430384 37889498 35895343 6242721 6902982 14167800 11111400 21318434 23367984 1712782397 2136316633 22539766 27664765 2418890 2568713 1000000 21250000 1427764916 1810860247 1453723572 1862343725 X 0 0 0 0 259058825 273972908 259058825 273972908 1712782397 2136316633 14914083 0 X 0 1 X 1 0 13000 13000 13000 1 NORTHWEST CREDIT UNION ASSOCIATION 18000 INTERNATIONAL BLVD SUITE 11 SEATAC WA 98188 910460483 13000 PART I-A, LINE 1: 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. 0 1 X 12289071 12289071 27467631 10329955 17137676 540111 526942 13169 15605507 9573487 6032020 423407 423407 35895343 MEMBERS' SHARE AND SAVINGS ACCOUNT 1810522459 ACCRUED PENSIONS AND PROFIT SHARING 337788 1810860247 X 85917838 0 85917838 0 85917838 71003755 0 71003755 0 71003755 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, 2020 AND 2019. THE CREDIT UNION'S 2017 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 WHATCOM FAMILY YOUNG MEN'S CHRISTIAN ASSOCIATION 1256 N STATE ST BELLINGHAM WA 98225 910482690 501(C)(3) 15000 EDUCATION GRANT COMMUNITIES IN SCHOOLS OF WHATCOM COUNTY PO BOX 6071 BELLINGHAM WA 98227 640956619 501(C)(3) 20000 EDUCATION GRANT WHATCOM DREAM PO BOX 29945 BELLINGHAM WA 98228 743086597 501(C)(3) 15000 EDUCATION GRANT MAX HIGBEE COMMUNITY RECREATION CENTER 1210 BAY ST STE 102 BELLINGHAM WA 98225 911275451 501(C)(3) 20000 EDUCATION GRANT LUMMI YOUTH ACADEMY 2665 KWINA RD BELLINGHAM WA 98226 911836621 501(C)(3) 12500 EDUCATION GRANT BELLINGHAM ARTS ACADEMY FOR YOUTH 1059 N STATE ST BELLINGHAM WA 98225 383868071 501(C)(3) 15000 EDUCATION GRANT OPPORTUNITY COUNCIL 1419 CORNWALL AVENUE BELLINGHAM WA 98225 910787820 501(C)(3) 12500 EDUCATION GRANT 7 0 SCHOLARSHIPS 20 118000 PART I, LINE 2: WHATCOM EDUCATIONAL CREDIT UNION PROVIDES GRANT FUNDING ONLY TO LOCAL, REPUTABLE ORGANIZATIONS WHO HAVE A VERIFIED PURPOSE AND PRESENCE IN THE COMMUNITY. SCHEDULE I, PART III 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. X 1 1 X X X 0 1 0 JENNIFER E KUTCHER PRESIDENT/CEO/TREASURER 541277 0 139671 0 16329 0 50300 0 24321 0 771898 0 0 0 JEFFREY R DYKSTRA EXECUTIVE VICE PRESIDENT 303768 0 24644 0 12576 0 36389 0 24862 0 402239 0 0 0 JACK INGRAM CHIEF INFORMATION OFFICER 276600 0 21873 0 21902 0 32876 0 24862 0 378113 0 0 0 NICHOLAS A HODSON CHIEF FINANCIAL OFFICER 246836 0 20137 0 11925 0 28462 0 24862 0 332222 0 0 0 CYNTHIA CHASE KLEIN CHIEF HUMAN RESOURCES OFFICER 224035 0 18340 0 14326 0 27628 0 24862 0 309191 0 0 0 ERYNNE MARIA HALLOCK VP, RETAIL DELIVERY 199753 0 16170 0 8462 0 24442 0 24862 0 273689 0 0 0 DAVID PIERCE JONES CHIEF MARKETING OFFICER 192754 0 15266 0 15124 0 23151 0 9168 0 255463 0 0 0 KENT D BOUMA VP, BUSINESS BANKING 176195 0 14460 0 4845 0 21853 0 24862 0 242215 0 0 0 MATTHEW HENRY BERENDSEN VP, LENDING 172946 0 13989 0 7397 0 21268 0 24862 0 240462 0 0 0 MICHAEL PETER YEEND CREDIT ANALYSIS TEAM LEADER 155241 0 20266 0 8588 0 18276 0 18058 0 220429 0 0 0 GRANT DYKSTRA BUSINESS BANKING SENIOR LOAN OFFICER 144052 0 25278 0 5332 0 18006 0 24862 0 217530 0 0 0 DAVID DODGE DIRECTOR, IT INFRASTRUCTURE 153023 0 14700 0 5781 0 17453 0 14991 0 205948 0 0 0 AARON HEATH WHITSON CREDIT ADMINISTRATOR 142374 0 19005 0 3114 0 16545 0 24862 0 205900 0 0 0 ANDREW WHALEY DIRECTOR, ENTERPRISE APPLICATIONS 141521 0 14075 0 3139 0 16710 0 24862 0 200307 0 0 0 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. IN 2020, THE CREDIT UNION GRANTED LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO A KEY EMPLOYEE. THE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF THE RESPECTIVE LIFE INSURANCE POLICIES. THE POLICIES ARE OWNED BY THE EMPLOYEE AND THEY HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. THE LOANS ACCRUE INTEREST AND ARE WITH FULL RECOURSE. JENNIFER KUTCHER CEO SPLIT DOLLAR LIFE INSURANCE LOAN X 11073912 11978060 0 1 1 11978060 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 2018. 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 2018. 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.