2021-11-01T10:42:52-05:00 2020-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2020-01-01 930163693 SELCO COMMUNITY CREDIT UNION SELC 5416868000 PO BOX 7487 SPRINGFIELD OR 97475 J ROBERT NEWCOMB CEO 5416868000 2021-10-28 1 J ROBERT NEWCOMB XXX-XX-XXXX WENDY CAMPOS P00448102 5032421447 2021-10-27 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z J ROBERT NEWCOMB PO BOX 7487 SPRINGFIELD OR 97475 93700243 0 X WWW.SELCO.ORG X 1936 OR SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 7 7 416 9 423390 0 0 0 71545192 71668474 6688669 6161332 10507494 11136225 88741355 88966031 98239 92362 0 0 34651762 34793986 0 0 0 32109906 35582280 66859907 70468628 21881448 18497403 1770844236 2184351982 1560895881 1952943198 209948355 231408784 SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 0 0 THE CREDIT UNION PAID OVER $8.8 MILLION IN DIVIDENDS TO MEMBERS. DEPOSIT ACCOUNTS INCLUDE SAVINGS, CHECKING, MONEY MARKET ACCOUNTS AND CERTIFICATES OF DEPOSIT. AS OF DECEMBER 31, 2020, DEPOSITS TOTALED $1.93 BILLION. THE CREDIT UNION DISBURSED OVER $465 MILLION IN NEW LOANS TO MEMBERS. LOANS INCLUDE AUTO, HOME MORTGAGE, HOME EQUITY, CREDIT CARD, AND BUSINESS LOANS. AT DECEMBER 31, 2020, LOANS OUTSTANDING TOTALED $1.34 BILLION. DURING 2020, THE CREDIT UNION PROVIDED FINANCIAL PLANNING SERVICES TO APPROXIMATELY 3,500 MEMBERS WITH ASSETS UNDER MANAGEMENT OF $352 MILLION. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 37590 0 1 416 1 1 1 0 0 0 0 0 1 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 1 1 X TIFFANY WASHINGTON 5416868000 PO BOX 7487 SPRINGFIELD OR 97475 CAROL BECKLEY PRESIDENT/CHAIRPERSON 3.00 X X 2072 0 0 CURT HEIMULLER VICE PRESIDENT/VICE CHAIRPERSON 3.00 X X 0 0 0 TONY SAXMAN DIRECTOR 2.00 X 2130 0 0 HAROLD WELBORN DIRECTOR 2.00 X 1357 0 0 JIM LINDLEY DIRECTOR 2.00 X 1340 0 0 KAY LEFRANCQ DIRECTOR 2.00 X 0 0 0 RICHARD METZLER DIRECTOR 2.00 X 0 0 0 J ROBERT NEWCOMB CEO/SECRETARY/DIRECTOR 60.00 5.00 X 2523376 0 44371 TIFFANY WASHINGTON SVP FINANCE & MEMBER SOLUTIONS AND TREASURER 50.00 X 342973 0 30504 CRAIG CARPENTER SVP LENDING & BUSINESS SOLUTIONS 50.00 X 324342 0 30783 SCOTT HIRSCHHORN MORTAGE LOAN OFFICER 45.00 X 350483 0 31595 FAYE BALLESTER MORTAGE LOAN OFFICER 45.00 X 333341 0 31595 STEVEN MCINTIRE VP ADMINISTRATION & GENERAL COUNSEL 50.00 X 320003 0 30504 TIMOTHY BOOHER MORTAGE LOAN OFFICER 45.00 X 292630 0 30504 KARI RODMAN MORTAGE LOAN OFFICER 45.00 X 284642 0 30504 4778689 0 260360 51 0 1 0 DAY VENGLEY ASSOCIATES 109 NW GREENWOOD BEND OR 97701 ADVERTISING 1461833 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 SOFTWARE AND PROGRAMMING SERVICES 815553 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT AND SERVICING 599085 CENTURYLINK PO BOX 52187 PHOENIX AZ 850722187 COMMUNICATION SERVICES 478286 INFINITY FINANCIAL GROUP 10200 SW ALLEN BLVD A BEAVERTON OR 97005 CREDIT REPORTS FOR MORTGAGE 445180 29 INTEREST ON LOANS 522100 55248586 55248586 SERVICE CHARGES & FEES 522100 16419888 16055469 364419 71668474 5000567 58971 4941596 65100 46943 18157 18157 18157 5823034 25000 4653409 33860 1169625 -8860 1160765 -8860 1169625 INTERCHANGE INCOME 900099 10304365 10304365 OTHER REVENUE 900099 813703 813703 11118068 88966031 82413263 423390 6129378 42112 50250 3303250 23066287 3350148 3030941 2043360 29188 113944 385664 2087080 3566636 2687097 2809508 37450 8803391 229515 PROVISION FOR LOAN LOSS 5987050 LOAN SERVICING 4917218 FEDERAL EXCISE TAX 833745 TAXES ON UBI 150 3094644 70468628 14913243 12859897 205809632 421887494 4551270 4553071 1353672745 1323094353 60437290 26845797 27920637 33591493 139053592 353169190 3853042 4232029 21070075 30964455 1770844236 2184351982 11722674 12472484 650645 885351 1548522562 1939585363 1560895881 1952943198 X 0 0 0 0 209948355 231408784 209948355 231408784 1770844236 2184351982 X 18497403 3042084 -79058 X 0 1 X 1 0 0 1 X 13983029 13983029 29727492 12426111 17301381 184093 179191 4902 16542676 14240495 2302181 33591493 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1934048240 DEFERRED COMPENSATION LIABILITY 5537123 1939585363 X PART IV, LINE 2B: AT DECEMBER 31, 2020, THE CREDIT UNION MAINTAINED MORTGAGE ESCROW ACCOUNTS TOTALING $885,351. PART X, LINE 2: FIN 48 (ASC 740) FINANCIAL STATEMENT FOOTNOTE - THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2020 AND 2019. THE CREDIT UNION RECOGNIZES THE ACCRUAL OF INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AS A TAX EXPENSE. DURING THE YEARS ENDED DECEMBER 31, 2020 AND 2019, IT RECOGNIZED NO MATERIAL INTEREST OR PENALTIES. 1 BENDLAPINE SCHOOL DISTRICT 520 NW WALL STREET BEND OR 97703 936000393 8620 CLASSROOM SUPPORT 1 0 COLLEGE SCHOLARSHIPS 20 50250 PART I, LINE 2: NO MONITORING OF CLASSROOM GRANTS OR STUDENT SCHOLARSHIPS IS PERFORMED. X X 1 1 X X 0 1 0 J ROBERT NEWCOMB CEO/SECRETARY/DIRECTOR 1778865 0 715150 0 29361 0 21375 0 22996 0 2567747 0 0 0 TIFFANY WASHINGTON SVP FINANCE & MEMBER SOLUTIONS AND T 302509 0 35863 0 4601 0 21375 0 9129 0 373477 0 0 0 CRAIG CARPENTER SVP LENDING & BUSINESS SOLUTIONS 286002 0 34971 0 3369 0 21375 0 9408 0 355125 0 0 0 SCOTT HIRSCHHORN MORTAGE LOAN OFFICER 342525 0 7444 0 514 0 21375 0 10220 0 382078 0 0 0 FAYE BALLESTER MORTAGE LOAN OFFICER 327089 0 5738 0 514 0 21375 0 10220 0 364936 0 0 0 STEVEN MCINTIRE VP ADMINISTRATION & GENERAL COUNSEL 284356 0 29991 0 5656 0 21375 0 9129 0 350507 0 0 0 TIMOTHY BOOHER MORTAGE LOAN OFFICER 284805 0 7011 0 814 0 21375 0 9129 0 323134 0 0 0 KARI RODMAN MORTAGE LOAN OFFICER 278084 0 5738 0 820 0 21375 0 9129 0 315146 0 0 0 PART I, LINE 1A THE CREDIT UNION WILL PROVIDE AIRFARE FOR A TRAVEL PARTNER FOR EACH BOARD MEMBER TO ONE NATIONAL CONFERENCE WITHIN THE UNITED STATES PER YEAR. THE CREDIT UNION PROVIDES TAX GROSS-UP PAYMENTS TO ITS CEO. THESE BENEFITS ARE REPORTED AS TAXABLE INCOME FOR EACH INDIVIDUAL RECEIVING A BENEFIT. PART I, LINE 4B J ROBERT NEWCOMB PARTICIPATES IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2020. TIFFANY WASHINGTON, CRAIG CARPENTER, STEVE MCINTIRE, AND KIRK LETOURNEAU PARTICIPATE IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. THE PLAN BENEFITS WILL BE PAID IN JANUARY 2025. J ROBERT NEWCOMB CEO SPLIT-DOLLAR LIFE INSURANCE X 813420 4326508 0 1 1 J ROBERT NEWCOMB CEO HOME MORTGAGE X 725000 226563 0 1 1 4553071 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MEMBER OWNED. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY A VOTE OF THE CREDIT UNION'S MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B REMOVAL OF DIRECTORS MUST BE RATIFIED BY A VOTE OF THE CREDIT UNION'S MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY SENIOR MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS FILE AN ANNUAL CONFLICT OF INTEREST STATEMENT. THE CREDIT UNION REPORTS RELATED PARTY LOANS ON THE NCUA CALL REPORT BUT OTHERWISE RELIES ON SELF-REPORTING TO MONITOR ONGOING TRANSACTIONS. POTENTIAL CONFLICTS WOULD BE REVIEWED BY THE CREDIT UNION'S LEGAL COUNSEL. RESTRICTIONS IMPOSED AS THE RESULT OF AN ACTUAL CONFLICT OF INTEREST DEPEND ON THE NATURE OF THE CONFLICT. THERE ARE NO KNOWN CONFLICTS AND NO RESTRICIONS ARE CURRENTLY IN EFFECT. FORM 990, PART VI, SECTION B, LINE 15A THE SELCO COMMUNITY CREDIT UNION SALARY ADMINISTRATION PROGRAM METHODOLOGY IS DESIGNED TO ATTRACT AND RETAIN TOP TALENT WITHIN THE INDUSTRY. ONE COMPONENT OF THE PROGRAM IS THE UTILIZATION OF SALARY SURVEY DATA WHICH PROVIDES GUIDANCE IN ESTABLISHING APPROPRIATE SALARY RANGES AND IN DETERMINING ANNUAL BASE PAY CHANGES. IN LIEU OF RELEVANT SURVEY INFORMATION, HUMAN RESOURCES COMPILES PUBLICALLY AVAILABLE FORM 990 DATA TO USE FOR BENCHMARKING. THIS DATA INCLUDES ONLY STATE-CHARTERED CREDIT UNIONS SINCE FEDERALLY-CHARTERED CREDIT UNIONS ARE EXCLUDED FROM THE REQUIREMENT TO FILE AN INDIVIDUAL FORM 990. THE BENCHMARK DATA IS PROVIDED TO THE BOARD OF DIRECTORS EACH JANUARY TO BE USED AS A GENERAL COMPARISON AND GUIDANCE. PERIODICALLY, THE BOARD MAY COMMISSION AN EXTERNAL FIRM TO PROVIDE BENCHMARK DATA. DURING THE CEO PERFORMANCE EVALUATION PROCESS, THE BOARD MEETS IN EXECUTIVE SESSION TO DISCUSS CEO PERFORMANCE, REVIEW COMPENSATION BENCHMARK DATA, AND ESTABLISH THE APPROPRIATE COMPENSATION LEVEL. COMPENSATION CHANGES ARE DOCUMENTED IN A MEMO TO THE PAYROLL AND PERSONNEL FILE, WHICH SUMMARIZES THE MEETING DISCUSSION AND MEMORIALIZES ACTIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY MAY BE MADE AVAILABLE UPON REQUEST. ANNUAL FINANCIAL STATEMENTS ARE POSTED ON THE CREDIT UNION'S WEBSITE AND MONTHLY STATEMENTS ARE POSTED IN EACH BRANCH LOCATION. FORM 990, PART XI, LINE 9: PASSTHROUGH BOOK/TAX DIFFERENCES -79,058. INOVA LLC PO BOX 7487 SPRINGFIELD OR 97475 272430222 CONSULTING OR N/A UNRELATED -2084 0 1 0.33330 SELCO GROUP INC 925 HARLOW SPRINGFIELD OR 97477 930829603 INSURANCE SALES OR SELCO COMMUNITY CREDIT UNION C 191149 2313865 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 0 0 SELCO GROUP INCORPORATED A 65100 FMV/CASH PAID SELCO GROUP INCORPORATED L 425122 FMV/CASH PAID SELCO GROUP INCORPORATED Q 425122 FMV/CASH PAID