2021-11-05T10:03:43-05:00 2020-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1200 MINNEAPOLIS MN 554022526 990 2020-01-01 910176216 CREDIT UNIONS IN THE STATE OF WASHINGTON TAPCO CREDIT UNION CRED 2536203241 6312 - 19TH STREET WEST TACOMA WA 98466 KATHY SCHOLES CHIEF FINANCIAL OFFICER 2536203241 2021-11-04 1 KATHY SCHOLES XXX-XX-XXXX KACIE MCEWEN P01599614 6123324300 2021-11-04 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BILL PETERS 6312 - 19TH STREET WEST TACOMA WA 98466 19089269 0 X WWW.TAPCOCU.ORG X 1934 WA IMPROVING LIVES BY PARTNERING WITH FAMILIES TO REACH THEIR GOALS. 9 9 116 13 80202 0 0 0 18178576 18233969 1440489 855300 2000 0 19621065 19089269 7500 10000 1012387 1305503 7403172 8347833 0 0 0 7423230 6955921 15846289 16619257 3774776 2470012 394852832 496515001 356421281 455595450 38431551 40919551 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, RESPECT FOR OURSELVES AND OTHERS, INTEGRITY IN ALL THAT WE DO, HOLDING OURSELVES AND EACH OTHER ACCOUNTABLE AND COOPERATION. 0 0 TAPCO CREDIT UNION PROVIDES FINANCIAL PRODUCTS AND SERVICES TO OVER 29,627 MEMBERS, INCLUDING MORE THAN 18,018 CONSUMER, REAL ESTATE, AND BUSINESS LOANS AND OVER 49,131 DEPOSIT ACCOUNTS. SERVICES OFFERED INCLUDE ONLINE BANKING AND BILL PAY, BRANCHES, ATMS, SAFE DEPOSIT BOXES, SHARED BRANCHING, ACH AND WIRE TRANSFERS.AS THE COVID-19 VIRUS AFFECTS ALL OF US, TAPCO HAS TAKEN STEPS TO INCREASE SAFETY FOR STAFF AND MEMBERS. IMPLEMENTED RELIEF LOANS, FEE WAIVERS AND SKIP PAY LOANS ARE AVAILABLE TO MEMBERS. WE WILL CONTINUE TO COMMUNICATE TO OUR STAFF AND MEMBERS AS WE WORK THRU THIS PANDEMIC AND CONTINUE TO DELIVER ESSENTIAL SERVICES THROUGH ALTERNATIVE CHANNELS AVAILABLE. TAPCO HAS BEEN A PART OF THE TACOMA-PIERCE COUNTY COMMUNITY FOR 86 YEARS. IN 2020 THE IMPACT OF COVID CONTINUED FROM 2019, AND TAPCO CONTINUED TO OFFER MEMBERS EMERGENCY LOANS AND FREE SKIP PAYS. TAPCO PROVIDED NEEDED SERVICES WHILE LOBBIES WERE CLOSED OR ACCESS LIMITED, WE EXPANDED DRIVE-UP SERVICES AND ADDED ADDITIONAL STAFF TO THE CONTACT CENTER. WE CONTINUE TO FOCUS ON OUR TAGLINE, "FOR THE LOVE OF PEOPLE", WHICH EMBODIES OUR MISSION STATEMENT, AND EMPHASIZES OUR COMMITMENT TO THE CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE". IN 2020, OUR STAFF, BOARD VOLUNTEERS, AND MEMBERSHIP DEDICATED THEIR TIME AND MONEY TO SUPPORT LOCAL COMMUNITY PROGRAMS AND EVENTS AND IN LIEU OF OUR PARTICIPATION AT MANY EVENTS, TAPCO DONATED OVER $40,000 IN SUPPORT OF OUR COMMUNITY. WE CONTINUED TO INCREASE MEMBER LOANS SIGNIFICANTLY. TAPCO'S LOAN PORTFOLIO IS DISTRIBUTED ACROSS MANY LOAN TYPES, INCLUDING OVER $103 MILLION IN MORTGAGES AND EQUITY LOANS, OVER $132 MILLION IN AUTO LOANS AND $57 MILLION IN COMMERCIAL LOANS. TAPCO PEAK MEMBER REWARDS PROGRAM RECOGNIZES MEMBERS FINANCIAL RELATIONSHIP WITH TAPCO AND OFFERS BETTER RATES AND FREE SERVICES. REWARDS BENEFITS MAY APPLY TO ALL FAMILY MEMBERS LIVING IN THE SAME HOUSEHOLD BY LINKING FAMILY MEMBERSHIPS, YOUR HIGH SCHOOL, COLLEGE STUDENT, OR OTHER FAMILY. WE ARE THRILLED TO HAVE OPENED TWO NEW BRANCHES ENABLING US TO BETTER SERVE MEMBERS NEAR WHERE THEY LIVE AND WORK. OUR FREDERICKSON OPENED IN JUNE 2020. AND OUR NEWEST BRANCH, BONNEY LAKE WILL BE OPENING IN JANUARY 2021. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 4269 0 1 116 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X KATHY SCHOLES 2535659895 6312 - 19TH STREET WEST TACOMA WA 98466 CARLYN ROY PRESIDENT (UNTIL 12/31/19) 40.00 X 631686 0 3643 SCOTT DRABB PRESIDENT (STARTING 1/01/20) 40.00 X 321569 0 45773 DEBBIE SCOLES CONTROLLER 40.00 X 204971 0 46068 WILLIAM PETERS COO 40.00 X 208962 0 33417 JOHN EYRE AVP OF IT 40.00 X 153793 0 21336 KERRY KEELY MEMBER BUSINESS LENDING OFFICER 40.00 X 130221 0 19517 LORI STANAWAY AVP OF BRANCH OPERATIONS 40.00 X 123554 0 20489 HEATHER FATE RISK MANAGEMENT OFFICER 40.00 X 117707 0 19439 BRUCE BAURICHTER CHAIR 2.00 X X 0 0 0 ALEX WILSIE VICE CHAIR 1.00 X X 0 0 0 ROB MASKO SECRETARY/TREASURER 1.00 X X 0 0 0 JOHN COLE DIRECTOR 1.00 X 0 0 0 PAT MCELLIGOTT DIRECTOR 1.00 X 0 0 0 GENE MILLER DIRECTOR 1.00 X 0 0 0 CLARA NELSON DIRECTOR 1.00 X 0 0 0 STEVE POYTHRESS DIRECTOR 1.00 X 0 0 0 ED TROYER DIRECTOR 1.00 X 0 0 0 1892463 0 209682 11 0 1 0 FISERV 75 REMITTANCE DR STE 6969 CHICAGO IL 60675 STATEMENT PROCESSING / MISC. 1630857 MOUNTAIN CONSTRUCTION 7457 S MADISON ST TACOMA WA 98409 CONSTRUCTION-BRANCH REMODELS 191925 EXPERIAN PO BOX 881971 LOS ANGELES CA 90088 CREDIT BUREAU SERVICES 113657 THE LAMAR COMPANY LLC PO BOX 96030 BATON ROUGE LA 70896 ADVERTISING BILLBOARDS & POSTERS 111444 JAYRAY ADS & PR INC 535 DOCK ST SUITE 205 TACOMA WA 98402 MARKETING SERVICES 106510 5 INTEREST ON LOANS TO MEMBERS 522100 13607912 13607912 FEE INCOME 522100 2918680 2917931 749 OTHER NON-INTEREST INCOME 522100 1262243 1182790 79453 OTHER MISC INCOME 522100 445134 445134 18233969 855300 855300 19089269 18153767 80202 855300 10000 1305503 1245049 5336135 282782 997829 486038 24011 24000 145355 557516 2952656 436197 54510 61584 1 478489 LOAN SERVICING EXPENSES 1434269 PROVISION FOR LOAN LOSS 673800 ASSOCIATION FEES 90805 ANNUAL MEETING 435 22293 16619257 4452679 4725066 40236569 116396707 295672850 317172303 2106078 2278579 12321849 7146402 3860945 5175447 36726296 36747691 7457289 7633364 4340126 6385844 394852832 496515001 4050075 3855043 352371206 451740407 356421281 455595450 X 0 0 0 0 38431551 40919551 38431551 40919551 394852832 496515001 2470012 17988 0 X 0 0 0 1108880 1108880 6038396 3343967 2694429 344183 145870 198313 2242406 1607286 635120 2587984 2049279 538705 5175447 DEPOSITS 451740407 451740407 1 SCHOLARSHIPS 4 10000 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. X 1 1 X X 1 1 0 CARLYN ROY PRESIDENT (UNTIL 12/31/19) 52043 0 0 0 579643 0 3643 0 0 0 635329 0 363636 0 SCOTT DRABB PRESIDENT (STARTING 1/01/20) 302429 0 18896 0 244 0 22409 0 23364 0 367342 0 0 0 DEBBIE SCOLES CONTROLLER 196279 0 8607 0 85 0 14793 0 31275 0 251039 0 0 0 WILLIAM PETERS COO 190312 0 18592 0 58 0 10053 0 23364 0 242379 0 0 0 JOHN EYRE AVP OF IT 143860 0 9774 0 159 0 10747 0 10589 0 175129 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - REIMBURSEMENT FOR COMPANION'S EXPENSES MUST RECEIVE ADVANCE AUTHORIZATION. AIRFARE AND REGISTRATION, WHERE APPLICABLE, FOR CONFERENCES, CONVENTIONS AND SEMINARS. RECEIPTS EVIDENCING ACTUAL EXPENSES MUST BE SUBMITTED. COMPANION MAY ACCOMPANY ONLY IF THEIR PRESENCE DOES NOT INTERFERE WITH THE BUSINESS OBJECTIVE OF THE TRIP. PART I, LINES 4A-B IN 2020, CARLYN ROY RECEIVED A SEVERANCE PAYMENT OF $211,007, WHICH IS REPORTED ON PART VII, COLUMN D AND SCHEDULE J, PART II, COLUMN B(III). THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN: CARLYN ROY SCOTT DRABB IN 2020, CARLYN ROY RECEIVED A $363,636 DISTRIBUTION FROM HER NON-QUALIFIED RETIREMENT PLAN. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE VP/CFO REVIEW 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. FORM 990, PART VI, SECTION B, LINE 12C THE EMPLOYEE HANDBOOK STATES AND THE EMPLOYEES ARE INFORMED WHEN HIRED THAT THE EMPLOYEE MUST INFORM THEIR SUPERVISOR IF THEY HAVE ANY OTHER EMPLOYMENT OUTSIDE OF TAPCO CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE ANNUAL PERCENTAGE INCREASE IS SET BY THE BOARD OF DIRECTORS. ANY ADDITIONAL CHANGES ARE DETERMINED BY USING COMPEASE, AN ONLINE PROGRAM FROM HRN, UPDATED ANNUALLY, WHICH TAKES INTO ACCOUNT OUR SIZE AND DEMOGRAPHICS. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE MADE PUBLIC THROUGH THE ANNUAL MEETING AND INTERNET, THE FORM 5300 IS AVAILABLE THROUGH THE INTERNET, AND THE CONFLICTS OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). TAPCO SERVICES INC 6312 19TH STREET WEST TACOMA WA 98466 911271799 INSURANCE BROKERAGE/AGENCY WA TAPCO CREDIT UNION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0