2021-11-09T08:08:57-06:00 2020-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2020-01-01 930243503 UNITUS COMMUNITY CREDIT UNION UNIT 5034238839 PO BOX 1937 PORTLAND OR 972071937 GREG SPEAR SVP/CHIEF FINANCIAL OFFICER 5034238839 2021-11-05 1 GREG SPEAR XXX-XX-XXXX WENDY CAMPOS P00448102 5032421447 2021-11-05 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z STEVEN STAPP PO BOX 1937 PORTLAND OR 972071937 67693518 0 X WWW.UNITUSCCU.COM X 1937 OR CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSE. 7 7 325 0 367661 147862 0 0 59891782 63832917 6243157 3879532 146758 -18931 66281697 67693518 434108 594646 0 0 26445964 26334706 0 0 0 32390145 34681442 59270217 61610794 7011480 6082724 1340088701 1575458613 1199482490 1426793324 140606211 148665289 DEDICATED TO THE FINANCIAL WELL-BEING OF OUR MEMBERSHIP. 0 0 PROVIDE FINANCIAL SERVICES TO 101,019 MEMBERS. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, PROVIDING REAL ESTATE AND OTHER SECURED/ UNSECURED CONSUMER LOANS, CHECKING AND SAVINGS PROGRAMS, AND CREDIT CARD SERVICES. SUPPORT COMMUNITIES IN OUR FIELD OF MEMBERSHIP, INCLUDING CORPORATE PHILANTHROPY. 0 0 1 0 0 0 0 1 1 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 25114 329 1 325 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X GREG SPEAR 5034238839 1300 SW 6TH AVENUE PORTLAND OR 97201 SOMNATH BANERJEE PRESIDENT/CHAIR 3.00 X X 17694 0 0 FRANK CHINN DIRECTOR 3.00 X 17306 0 0 MARY NOLAN DIRECTOR 3.00 X 15000 0 0 MATTHEW MICETIC VP & SUPERVISORY COMMITTEE 3.00 X X 15000 0 0 RHONDA CRAMER SECRETARY 3.00 X X 15000 0 0 SUE IGGULDEN DIRECTOR 3.00 X 15000 0 0 TIFFINI MUELLER DIRECTOR 3.00 X 15000 0 0 STEVEN STAPP PRESIDENT - CHIEF EXECUTIVE OFFICER 55.00 X 799738 0 226717 GREG SPEAR SVP - CHIEF FINANCIAL OFFICER 55.00 X 365878 0 57615 DAVID FEHRER SVP - CHIEF INFORMATION OFFICER 55.00 X 326398 0 64187 BRIAN DEVEREUX SVP - CHIEF LENDING OFFICER 55.00 X 324688 0 45773 JASON WERTS EVP - CHIEF OPERATING OFFICER 55.00 X 297390 0 40745 GAYLE EVANS SVP - CHIEF HUMAN RESOURCES OFFICER 55.00 X 274678 0 63025 JAMES ALEXANDER SVP - CHIEF RISK OFFICER 55.00 X 242951 0 41997 CORLINDA WOODEN VP - CHIEF RETAIL OFFICER 55.00 X 221617 0 23725 TIMOTHY BELL VP - CHIEF EXPERIENCE OFFICER 55.00 X 212364 0 13518 MICHELLE FAVREAU HOLLENBECK MORTGAGE RELATIONSHIP OFFICER 55.00 X 305218 0 47374 KEVIN MOON MORTGAGE RELATIONSHIP OFFICER 55.00 X 276770 0 49017 BRADLEY GOODENOUGH MGR - MORTGAGE LENDING SALES 55.00 X 269847 0 31044 JILL WHEELER MORTGAGE RELATIONSHIP OFFICER 55.00 X 210883 0 34442 KRISTIAN KIRKEVOLD MORTGAGE RELATIONSHIP OFFICER 55.00 X 195274 0 38070 KEVIN SMITH MGR - IT OPERATIONS 55.00 X 163511 0 37285 TIMOTHY BURKE MORTGAGE RELATIONSHIP OFFICER 55.00 X 179135 0 20439 GARY COATES MGR - INFO MGMT SOLUTIONS 55.00 X 161604 0 34665 JOHN BACHMAN ASST MGR - NETWORK OPERATIONS 55.00 X 153024 0 38692 MAUREEN ROUTT MORTGAGE RELATIONSHIP OFFICER 55.00 X 167815 0 21332 RICHARD HIGH AVP - CREDIT ADMINISTRATION 55.00 X 157656 0 21289 WAYNE MATSUMURA AVP - BUSINESS LENDING 55.00 X 156201 0 21265 JOSEPH MOSSER ASST MGR - SOFTWARE ENGINEERING 55.00 X 142087 0 38218 AMY OLSON AVP - RESIDENTIAL MORTGAGE LENDING 55.00 X 136337 0 37824 RONDA WAGNER AVP - CONSUMER LENDING 55.00 X 146947 0 20743 KAREN SALMAN AVP - DEPOSIT ADMINISTRATION 55.00 X 148532 0 15112 PHAYSY ALLEN MORTGAGE RELATIONSHIP OFFICER 55.00 X 142632 0 20730 6289175 0 1104843 55 0 1 0 ALKAMI TECHNOLOGY INC 5601 GRANITE PARKWAY SUITE 120 PLANO TX 75024 CLOUD-BASED DIGITAL BANKING SOLUTIONS 1336764 MEMBER ACCESS PACIFIC 20829 72ND AVE SOUTH STE 600 KENT WA 98032 CARD SERVICES MANAGEMENT 1074138 FIRST CHOICE AMC 10250 SW GREENBURG RD STE 201 PORTLAND OR 97223 APPRAISAL MANAGEMENT SOLUTIONS 725155 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 CUSTOMER STATEMENTS 685753 CENLAR FSB PO BOX 77415 EWING NJ 08628 LOAN SERVICING AND SUBSERVICING 670603 41 INTEREST ON LOANS 522100 44295658 44295658 MORTGAGE BANKING/LOAN 522100 12186398 12186398 SERVICE CHARGES & FEES 522100 11526321 11139729 386592 DEFERRED LOAN FEE EARN 522100 -4175460 -4175460 63832917 3879532 3879532 PASSTHROUGH INCOME 518210 -18931 -18931 -18931 67693518 63446325 367661 3879532 577146 17500 6544859 14123090 1326581 2523030 1817146 95608 144488 936406 638442 2351687 3499838 3299345 86081 426 8488994 1827386 177395 PROVISION FOR LOAN LOSS 8773930 LOAN SERVICING 2021602 UBI TAXES 45330 2294484 61610794 128803215 130282800 1082912 1126196 262524 517939 963922369 981906967 1113071 1241331 27262189 21004107 7540106 6258082 205714747 418404934 12362521 14400905 19287236 21319459 1340088701 1575458613 14670386 12225639 1184812104 1414567685 1199482490 1426793324 X 0 0 23423471 23423471 117182740 125241818 140606211 148665289 1340088701 1575458613 X 6082724 1976354 X 0 1 X 1 0 10000 10000 1 CREDIT UNION LEGISLATIVE ACTION FUND PO BOX 1900 BEAVERTON OR 970751900 800043051 10000 PART I-A, LINE 1: THE CREDIT UNION HAS ONLY INDIRECT POLITICAL CAMPAIGN ACTIVITY: A CONTRIBUTION TO THE CREDIT UNION LEGISLATIVE ACTION FUND. 0 0 1083097 46796 1129893 1030134 52963 1083097 1000000 30134 1030134 1.00000 0 0 1001331 1001331 13028163 9672934 3355229 13232071 11331173 1900898 624 624 6258082 MEMBERS' SHARES 1414567685 1414567685 X 66788861 425503 425503 66363358 1330160 1330160 67693518 60321621 0 60321621 1289173 1289173 61610794 PART X, LINE 2: FIN 48 (ASC 740) UNCERTAIN TAX POSITIONS FOOTNOTE - THE CREDIT UNION WOULD RECOGNIZE A TAX BENEFIT FOR UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WOULD BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. THE TAX BENEFIT WOULD BE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE CREDIT UNION RECOGNIZES INTEREST ACCRUED AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AS AN ADMINISTRATIVE EXPENSE. NO INTEREST AND PENALTIES WERE RECOGNIZED FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019. PART XI, LINE 4B - OTHER ADJUSTMENTS: PASSTHROUGH INCOME 40,987. VALUATION ADJUSTMENT ON MORTGAGE SERVICING RIGHTS 1,289,173. PART XII, LINE 4B - OTHER ADJUSTMENTS: VALUATION ADJUSTMENT ON MORTGAGE SERVICING RIGHTS 1,289,173. 1 PORTLAND ROSE FESTIVAL SPONSORSHIP 1020 SW NAITO PARKWAY PORTLAND OR 97204 930333036 501(C)(3) 100000 JA FINANCE PARK SPONSORSHIP SUNSHINE DIVISION INC 687 N THOMPSON ST PORTLAND OR 97227 930429354 501(C)(3) 23517 GENERAL SUPPORT UNITED WAY OF MID-WILLAMETTE VALLEY 455 BLILER AVE NE SALEM OR 97301 930395586 501(C)(3) 20000 GENERAL SUPPORT AMERICAN RED CROSS 3131 N VANCOUVER AVE PORTLAND OR 97227 530196605 501(C)(3) 20000 GENERAL SUPPORT WORLDWIDE FOUNDATION FOR CREDIT UNIONS 1121 SW SALMON ST 100 PORTLAND OR 97205 930579589 501(C)(3) 10000 GENERAL SUPPORT FINANCIAL BEGINNINGS USA 2705 E BURNSIDE ST 214 PORTLAND OR 97214 203530960 501(C)(3) 10000 GENERAL SUPPORT SCHOOLHOUSE SUPPLIES 4916 NE 122ND AVENUE PORTLAND OR 97230 204223437 501(C)(3) 10000 TOOLS FOR SCHOOLS 2020 SPONSOR OHSU & DOERNBECHER FOUNDATION 2735 NE 82ND AVE PORTLAND OR 97220 204223437 501(C)(3) 10000 OHSU GAME, TOURNAMENT SUPPORT NORTHWEST CREDIT UNION ASSOCIATION 18001 INTERNATIONAL BLVD SUITE 350 SEATAC WA 98188 911649328 501(C)(3) 10000 GENERAL SUPPORT GOOD NEIGHBOR CENTER 11130 SW GREENBURG RD TIGARD OR 97223 931269989 501(C)(3) 7100 GENERAL SUPPORT HISPANIC METROPOLITAN CHAMBER PO BOX 1837 PORTLAND OR 97202 931156358 501(C)(3) 6500 GENERAL SUPPORT WORLD OREGON 1207 SW BROADWAY SUITE 300 PORTLAND OR 97205 930568356 501(C)(3) 5000 YOUNG LEADER IN ACTION DE LA SALLE NO CATHOLIC HIGH SCHOOL 7528 N FENWICK AVE PORTLAND OR 97217 821708155 501(C)(3) 5000 GENERAL SUPPORT PLAY IT FORWARD PO BOX 25607 PORTLAND OR 97298 821708155 501(C)(3) 5000 SPONSORSHIP & PIANO LESSON INITIATIVE NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT RD MADISON WI 53705 391383650 501(C)(3) 5000 GENERAL SUPPORT LATINO NETWORK 410 NE 18TH AVE PORTLAND OR 97232 731675402 501(C)(3) 5000 GENERAL SUPPORT 16 SCHOLARSHIPS BASED ON GPA, POTENTIAL AND COMMUNITY INVOLEMENT 7 17500 PART I, LINE 2: THE CREDIT UNION SENDS SCHOLARSHIP RECIPIENTS A NOTICE OF AWARD SPECIFYING THE TERMS OF THE SCHOLARSHIP AWARD, WHICH THE RECIPIENT IS REQUIRED TO SIGN AND RETURN TO THE ORGANIZATION. THE CREDIT UNION WILL THEN SEND A CHECK DIRECTLY TO THE FINANCIAL AID OFFICE OF THE INSTITUTION TO BE ATTENDED. THE FINANCIAL AID OFFICE WILL DISBURSE THE FUNDS IN PAYMENT OF FEES OR OTHER CHARGES UPON VERIFICATION AS A FULL-TIME STUDENT. REFUNDS RESULTING FROM A STUDENT'S FAILURE TO COMPLETE A FULL STUDY PERIOD WILL BE RETURNED TO THE CREDIT UNION FOR DEPOSIT IN THE SCHOLARSHIP ACCOUNT. X X 1 1 X X X X 0 1 0 STEVEN STAPP PRESIDENT - CHIEF EXECUTIVE OFFICER 621331 0 167792 0 10615 0 196523 0 30194 0 1026455 0 0 0 GREG SPEAR SVP - CHIEF FINANCIAL OFFICER 299621 0 66257 0 0 0 37800 0 19815 0 423493 0 0 0 DAVID FEHRER SVP - CHIEF INFORMATION OFFICER 266107 0 60291 0 0 0 37800 0 26387 0 390585 0 0 0 BRIAN DEVEREUX SVP - CHIEF LENDING OFFICER 284864 0 39813 0 11 0 36334 0 9439 0 370461 0 0 0 JASON WERTS EVP - CHIEF OPERATING OFFICER 223698 0 73692 0 0 0 23153 0 17592 0 338135 0 0 0 GAYLE EVANS SVP - CHIEF HUMAN RESOURCES OFFICER 227831 0 46614 0 233 0 36638 0 26387 0 337703 0 0 0 JAMES ALEXANDER SVP - CHIEF RISK OFFICER 199695 0 43256 0 0 0 32558 0 9439 0 284948 0 0 0 CORLINDA WOODEN VP - CHIEF RETAIL OFFICER 192669 0 28948 0 0 0 15072 0 8653 0 245342 0 0 0 TIMOTHY BELL VP - CHIEF EXPERIENCE OFFICER 212364 0 0 0 0 0 9120 0 4398 0 225882 0 0 0 MICHELLE FAVREAU HOLLENBECK MORTGAGE RELATIONSHIP OFFICER 303575 0 1643 0 0 0 20987 0 26387 0 352592 0 0 0 KEVIN MOON MORTGAGE RELATIONSHIP OFFICER 275127 0 1643 0 0 0 22630 0 26387 0 325787 0 0 0 BRADLEY GOODENOUGH MGR - MORTGAGE LENDING SALES 264560 0 5287 0 0 0 21605 0 9439 0 300891 0 0 0 JILL WHEELER MORTGAGE RELATIONSHIP OFFICER 209317 0 1566 0 0 0 16201 0 18241 0 245325 0 0 0 KRISTIAN KIRKEVOLD MORTGAGE RELATIONSHIP OFFICER 193621 0 1653 0 0 0 11683 0 26387 0 233344 0 0 0 KEVIN SMITH MGR - IT OPERATIONS 155948 0 7563 0 0 0 10898 0 26387 0 200796 0 0 0 TIMOTHY BURKE MORTGAGE RELATIONSHIP OFFICER 177634 0 1501 0 0 0 11000 0 9439 0 199574 0 0 0 GARY COATES MGR - INFO MGMT SOLUTIONS 118603 0 6391 0 36610 0 10477 0 24188 0 196269 0 0 0 JOHN BACHMAN ASST MGR - NETWORK OPERATIONS 146924 0 6100 0 0 0 12305 0 26387 0 191716 0 0 0 MAUREEN ROUTT MORTGAGE RELATIONSHIP OFFICER 166243 0 1572 0 0 0 11893 0 9439 0 189147 0 0 0 RICHARD HIGH AVP - CREDIT ADMINISTRATION 149868 0 7788 0 0 0 11850 0 9439 0 178945 0 0 0 WAYNE MATSUMURA AVP - BUSINESS LENDING 148785 0 7416 0 0 0 11826 0 9439 0 177466 0 0 0 JOSEPH MOSSER ASST MGR - SOFTWARE ENGINEERING 136348 0 5739 0 0 0 11831 0 26387 0 180305 0 0 0 AMY OLSON AVP - RESIDENTIAL MORTGAGE LENDING 127048 0 9289 0 0 0 11437 0 26387 0 174161 0 0 0 RONDA WAGNER AVP - CONSUMER LENDING 139832 0 7115 0 0 0 11304 0 9439 0 167690 0 0 0 KAREN SALMAN AVP - DEPOSIT ADMINISTRATION 141720 0 6812 0 0 0 5673 0 9439 0 163644 0 0 0 PHAYSY ALLEN MORTGAGE RELATIONSHIP OFFICER 141064 0 1568 0 0 0 11291 0 9439 0 163362 0 0 0 PART I, LINE 1A BOARD MEMBERS BRING SPOUSES TO THE GAC CONFERENCE EACH YEAR. ADDITIONALLY, THE CREDIT UNION PAYS MEMBERSHIP FEES FOR UNIVERSITY CLUB FOR THE PRESIDENT. THESE ITEMS WERE NOT INCLUDED IN TAXABLE INCOME. PART I, LINE 4B THE CREDIT UNION AT TIMES ENTERS INTO 457(F) DEFERRED COMPENSATION AGREEMENTS WITH MEMBERS OF EXECUTIVE MANAGEMENT THAT PROVIDE BENEFITS PAYABLE TO PARTICIPANTS BASED ON VARYING CONDITIONS, TYPICALLY LENGTH OF SERVICE. BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE AS DEFINED IN THE AGREEMENTS. SARAH BANG SUPERVISORY COMMITTEE MORTGAGE X 474202 468748 0 1 1 STEVEN STAPP CHIEF EXECUTIVE OFFICER AUTO X 50133 15995 0 1 1 CORLINDA WOODEN CHIEF RETAIL OFFICER AUTO X 28292 9030 0 1 1 BRIAN DEVEREUX CHIEF LENDING OFFICER AUTO X 24283 17266 0 1 1 BRIAN DEVEREUX CHIEF LENDING OFFICER AUTO X 21553 6900 0 1 1 517939 FORM 990, PART VI, SECTION A, LINE 6 CREDIT UNION MEMBERS WITH PRIME SHARE ACCOUNTS ARE ABLE TO VOTE AND VOLUNTEER FOR THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERS ARE ENTITLED TO ONE VOTE EACH IN ELECTIONS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE MANAGER REVIEWS ALL ENTRIES TO FORM 990 BY COMPARING THE ENTRIES TO BOOKS OF THE CORPORATION. THE CFO AND PRESIDENT ALSO THEN REVIEW FORM 990 BEFORE FILING. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PERFORMS A FINAL REVIEW, AND A COPY OF FORM 990 IS PROVIDED TO ALL BOARD MEMBERS BEFORE THE FORM IS FILED. FORM 990, PART VI, SECTION B, LINE 12C A BOARD-APPROVED STANDARDS OF CONFLICT POLICY EXISTS TO ADDRESS ACTUAL OR PERCEIVED CONFLICTS OF INTEREST. THE POLICY APPLIES TO ALL EMPLOYEES AND THE BOARD/OFFICIAL FAMILY. CONFLICTS OF INTEREST ARE REPORTED AND HANDLED BY THE CHIEF RISK OFFICER, CHIEF EXECUTIVE OFFICER, OR BOARD CHAIRPERSON DEPENDING ON WHO IS INVOLVED IN THE CONFLICT. CONFLICTS OF INTEREST ARE GENERALLY AVOIDED AND THE APPROPRIATE COURSE OF ACTION IS DETERMINED BASED ON THE SITUATION. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCES DEPARTMENT HIRES AN OUTSIDE CONSULTANT TO PERFORM A MARKET SURVEY FOR THE CEO COMPENSATION PACKAGE. THE RESULTS ARE THEN COMPILED AND A RECOMMENDATION IS PRESENTED TO THE EXECUTIVE COMMITTEE. RECOMMENDATIONS CONFORM TO A BOARD-APPROVED COMPENSATION PHILOSOPHY. THE HUMAN RESOURCES DEPARTMENT HIRES AN OUTSIDE CONSULTANT TO PERFORM A MARKET SURVEY FOR OFFICER AND OTHER KEY EMPLOYEE COMPENSATION PACKAGES. THE RESULTS ARE THEN COMPILED AND ARE SUBJECT TO APPROVAL BY THE CEO. RECOMMENDATIONS CONFORM TO A BOARD-APPROVED COMPENSATION PHILOSOPHY. THESE PROCESSES ARE UNDERTAKEN ANNUALLY EACH FEBRUARY. FORM 990, PART VI, SECTION C, LINE 19 A PAPER COPY OF THE AUDITED FINANCIAL STATEMENTS MAY BE VIEWED IN THE FINANCE DEPARTMENT AT AN INDIVIDUAL'S REQUEST. ADDITIONALLY, ANNUAL REPORTS ARE AVAILABLE VIA THE CREDIT UNION'S WEBSITE. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: PASSTHROUGH INCOME -40,987. OTHER COMPREHENSIVE INCOME 1,591,837. UNREALIZED GAIN/LOSS 425,504.