SEATTLE METROPOLITAN CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- SEATTLE METROPOLITAN CREDIT UNION (EIN 91-0176215)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-09
- IRS object ID
- 202143139349300334
- Schema version
- 2020v4.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-11-09T07:46:38-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 910189318 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MOSS ADAMS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2707 COLBY AVENUE SUITE 801 | AddressLine1Txt |
| City | EVERETT | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98201 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910176215 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SEATTLE METROPOLITAN CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SEAT | BusinessNameControlTxt |
| Phone | 2063985561 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1521 FIRST AVE SOUTH NO 500 | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98134 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAVIER D'AGUSTINI | PersonNm |
| Person Title | INTERIM CFO | PersonTitleTxt |
| Phone | 2063985552 | PhoneNum |
| Signature | 2021-11-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JAVIER | PersonFirstNm |
| Person Last | DAGUSTINI | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | COLLEEN RAMIRES | PreparerPersonNm |
| PTIN | P01251320 | PTIN |
| Phone | 4252597227 | PhoneNum |
| Preparation | 2021-11-04 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SEATTLE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JAVIER D'AGUSTINI | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1521 FIRST AVE SOUTH NO 500 | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98134 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $43,119,344 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SEATTLECU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1933 | FormationYr |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Activity Or Mission | A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 200 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $94,241 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $40,613,030 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $41,868,032 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,875,719 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,251,312 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $43,488,749 | PYTotalRevenueAmt |
| CY Total Revenue | $43,119,344 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $110,361 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $87,895 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $15,118,047 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $15,245,105 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $25,949,032 | PYOtherExpensesAmt |
| CY Other Expenses | $25,328,754 | CYOtherExpensesAmt |
| PY Total Expenses | $41,177,440 | PYTotalExpensesAmt |
| CY Total Expenses | $40,661,754 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,311,309 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,457,590 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $831,539,595 | TotalAssetsBOYAmt |
| Total Assets EOY | $959,707,663 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $755,100,656 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $879,448,655 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $76,438,939 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $80,259,008 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO PROMOTE THRIFT AMONG ITS MEMBERS, SERVE THE UNDERSERVED IN THE SEATTLE METROPOLITAN AREA, AND TO PROVIDE FINANCIAL SERVICES AND TO CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST FOR PROVIDENT, PRODUCTIVE AND EDUCATIONAL PURPOSES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SEATTLE METROPOLITAN CREDIT UNION (SMCU) HAS BEEN PROVIDING SERVICES TO ITS MEMBERS SINCE 1933. SINCE ITS INCEPTION, SMCU HAS CONSIDERED ITSELF AN ADVOCATE FOR ITS MEMBERS BY PROVIDING MEMBER-CENTRIC FINANCIAL SERVICES AND FINANCIAL LITERACY EDUCATION AT LOW OR NO COST. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | AS OF DECEMBER 31, 2020, SMCU HAD 52,088 MEMBERS. THESE MEMBERS PARTICIPATED IN 25,722 LOAN AND 98,240 DEPOSIT PRODUCTS. SMCU'S LOAN OFFERINGS INCLUDE A WIDE RANGE OF OPTIONS FROM STANDARD AUTO LOANS, MORTGAGES AND LINES OF CREDIT, TO MORE SEGMENTED PRODUCTS INCLUDING MOTORCYCLES, CLASSIC CARDS, BOATS, RECREATIONAL VEHICLES, AND AIRCRAFT LOANS. SMCU HAS ALSO RECENTLY EXTENDED ITS LOAN PRODUCTS TO INCLUDE BUSINESS LOANS TO QUALIFIED MEMBERS. ALL LOAN PRODUCTS COME IN A VARIETY OF TERMS TO PROVIDE PAYMENT OPTIONS THAT BEST SUIT THE MEMBERSHIP'S NEEDS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS HAVE THE SAME VARIETY OF SELECTION ON THE DEPOSIT SIDE OF THE PRODUCT LINE WITH OFFERINGS RANGING FROM BASIC CHECKING AND SAVINGS ACCOUNTS TO IRAS, CERTIFICATES, MONEY MARKETS AND HIGH-YIELD ACCOUNTS. SMCU ALSO OFFERS BUSINESS ACCOUNTS AND INVESTMENT SERVICES THAT ARE DESIGNED TO MAINTAIN THE MEMBER'S BEST INTEREST. AS AN ADVOCATE FOR ITS MEMBERSHIP, SMCU PLACES A HIGH PRIORITY ON EDUCATIONAL RESOURCES. AS A RESULT, SMCU HAS INVESTED IN ONLINE APPLICATIONS TO HELP MEMBERS MAKE DECISIONS RELATED TO PLANNING, BORROWING, BUDGETING AND PROTECTING THEIR CREDIT. LIFE VISION AND MORTGAGE ADVISOR ARE TWO TOOLS OFFERED ON PERSONAL FINANCES AND RESPECTIVES FROM HOME AND FAMILY FINANCE ON CAR BUYING, CREDIT PROTECTION AND BUDGETING. FOR THOSE MEMBERS WHO PREFER TO SPEAK TO SOMEONE IN PERSON, SMCU PROVIDES FREE CREDIT COUNSELING THROUGH "BALANCE," A FINANCIAL FITNESS PROGRAM THAT FOCUSES ON MONEY MANAGEMENT IN ADDITION TO IDENTITY THEFT PREVENTION AND ASSISTANCE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 34748 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 200 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JAVIER D'AGUSTINI | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2063985552 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1521 FIRST AVE SOUTH | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98134 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| CARLOS RUIZ | |||||||||
| BOARD CHAIR | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| ROBIN SHULER | |||||||||
| VICE CHAIR | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| DEANNA CLARK | |||||||||
| BOARD SECRETARY | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN EJIDE | |||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | ||||
| SEUJAN BERTRAM | |||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | ||||
| ARACELY GODINEZ | |||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | ||||
| ROBIN HARMON | |||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | ||||
| SHAHZAD QADRI | |||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | ||||
| JONELLE JOHNSON | |||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | ||||
| REBECCA KERR | |||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | ||||
| RICHARD ROMERO | |||||||||
| PRESIDENT AND CEO | 40.00 | Yes (X) | $511,193 | $0 | $180,694 | ||||
| TONITA WEBB | |||||||||
| EVP AND COO | 40.00 | Yes (X) | $331,716 | $0 | $139,679 | ||||
| JAVIER D'AGUSTINI | |||||||||
| INTERIM CFO | 40.00 | Yes (X) | $188,157 | $0 | $105,072 | ||||
| MIKE QUAMMA | |||||||||
| SVP/CFO (THRU 2/20) | 40.00 | Yes (X) | $72,661 | $0 | $8,360 | ||||
| BRENT RICCHINS | |||||||||
| SVP/SERVICE OPERATIONS | 40.00 | $184,843 | $0 | $84,148 | Yes (X) | ||||
| LEE PIERCE | |||||||||
| SVP OF LENDING | 40.00 | $214,025 | $0 | $84,869 | Yes (X) | ||||
| WALLACE HO | |||||||||
| SVP COMMERCIAL LENDING | 40.00 | $174,640 | $0 | $89,272 | Yes (X) | ||||
| DONNA RANSIER | |||||||||
| VP INFORMATION TECHNOLOGY | 40.00 | $190,309 | $0 | $79,966 | Yes (X) | ||||
| BRANDON ELY | |||||||||
| VP OF INTERNAL AUDIT | 40.00 | $143,225 | $0 | $76,383 | Yes (X) | ||||
| BARNEY HERRERA | |||||||||
| VP STRATEGIC PARTNERSHIPS | 40.00 | $146,299 | $0 | $67,623 | Yes (X) | ||||
| CHELISE NEWBOLD | |||||||||
| MORTGAGE LOAN OFFICER | 40.00 | $187,195 | $0 | $14,614 | Yes (X) | ||||
| PENNY STAFFORD | |||||||||
| MORTGAGE LOAN OFFICER | 40.00 | $194,878 | $0 | $11,073 | Yes (X) | ||||
| PAM MUELLER | |||||||||
| VP/LOAN DOCUMENTATION AND OPERATIONS MANAGER | 40.00 | $131,096 | $0 | $69,572 | Yes (X) | ||||
| JILL VICENTE | |||||||||
| FORMER OFFICER | 40.00 | $570,219 | $0 | $250 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,240,456 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,011,575 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 23 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV INC | |||||
| PO BOX 208457 | DALLAS | TX | 75320 | CORE SYSTEM PROVIDER SERVICES | $2,400,720 |
| HPC RP LLC | |||||
| 11400 SE 8TH ST SUITE 230 | BELLEVUE | WA | 98004 | CONSTRUCTION SERVICES | $2,299,433 |
| TWENTY FOUR 7 | |||||
| 425 NE 9TH AVENUE | PORTLAND | OR | 97232 | MARKETING & ADVERTISING SERVICES | $1,418,083 |
| RATEGENIUS LOAN SERVICES INC | |||||
| 9300 UNITED DRIVE SUITE 180 | AUSTIN | TX | 78758 | AUTO LOAN FINANCIAL SERVICES | $604,881 |
| Q2 SOFTWARE INC | |||||
| PO BOX 205970 | DALLAS | TX | 75230 | ONLINE BANKING SERVICES | $545,953 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 35 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $28,192,824 | $28,192,824 | |
| NET GAIN ON LOANS | 522100 | $4,269,033 | $4,269,033 | |
| INTERCHANGE INCOME | 522100 | $4,046,102 | $4,046,102 | |
| FEES AND CHARGES | 522100 | $3,072,536 | $3,070,664 | $1,872 |
| OTHER REVENUE | 522100 | $2,287,537 | $2,195,168 | $92,369 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $41,868,032 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,251,312 | TotalRevenueColumnAmt |
| Exclusion | $1,251,312 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $43,119,344 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $41,773,791 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $94,241 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,251,312 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,895 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,639,604 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,459,648 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $407,013 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,721,126 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,017,714 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $148,483 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $138,000 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,362,540 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $221,673 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $943,629 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,751,446 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,616,932 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,390 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,831 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,603,720 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,741,598 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $140,667 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $3,819,795 |
| MEMBER AWARDS | $395,447 |
| DUES & SUBSCRIPTIONS | $346,548 |
| SHARED BRANCHING EXPENS | $195,451 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,788,604 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,661,754 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,235,601 | BOYAmt |
| EOY | $8,366,705 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,097,926 | BOYAmt |
| EOY | $141,959,271 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,187,707 | BOYAmt |
| EOY | $2,375,472 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,675,712 | BOYAmt |
| EOY | $8,859,250 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $642,671,465 | BOYAmt |
| EOY | $659,702,590 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,549,721 | BOYAmt |
| EOY | $1,477,243 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $23,222,863 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $16,726,031 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,579,237 | BOYAmt |
| EOY | $6,496,832 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,519,451 | BOYAmt |
| EOY | $94,049,066 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,026,600 | BOYAmt |
| EOY | $997,900 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,996,175 | BOYAmt |
| EOY | $35,423,334 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $831,539,595 | BOYAmt |
| EOY | $959,707,663 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,334,084 | BOYAmt |
| EOY | $15,588,365 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $740,766,572 | BOYAmt |
| EOY | $863,860,290 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $755,100,656 | BOYAmt |
| EOY | $879,448,655 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $76,438,939 | BOYAmt |
| EOY | $80,259,008 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $76,438,939 | BOYAmt |
| EOY | $80,259,008 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $831,539,595 | BOYAmt |
| EOY | $959,707,663 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $2,457,590 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,362,479 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,272,411 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,357,845 | DepreciationAmt |
| Book Value | $2,914,566 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,950,452 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,368,186 | DepreciationAmt |
| Book Value | $3,582,266 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,496,832 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS' SHARE ACCOUNTS | Desc |
| Amt | $863,860,290 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $863,860,290 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $43,669,178 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $549,834 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $549,834 | RevenueNotReportedAmt |
| Revenue Subtotal | $43,119,344 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $43,119,344 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $40,661,754 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $40,661,754 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $40,661,754 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE INTERNAL REVENUE SERVICE (IRS) ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA (TAM) IN 2007 IDENTIFYING CERTAIN PRODUCTS AND SERVICES CONSIDERED TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TAM, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES IS SUBJECT TO INCOME TAXES UNDER THE UNRELATED BUSINESS INCOME TAX REGULATIONS. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY POTENTIAL ADDITIONAL LIABILITY RESULTING FROM THE TAX AUTHORITIES IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| ECDLR COMMUNITY DEVELOPMENT | |||||||
| 2524 16TH AVE S | SEATTLE | WA | 98144 | 910899927 | 501(C)(3) | $15,000 | EL CENTRO DE LA RAZA BUILDING THE BELOVED COMMUNITY EVENT 2020 |
| TABOR 100 INC | |||||||
| 7100 FORT DENT WAY STE 100 | SEATTLE | WA | 98188 | 912012635 | 501(C)(3) | $10,000 | HUB SPONSORSHIP TABOR 100 BLACK BUSINESS EQUITY FUND DONATION |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | SEATTLE CREDIT UNION MAKES CONTRIBUTIONS TO MANY CHARITIES WITHIN ITS COMMUNITY. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (13 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD ROMERO | ||||||||||||||
| PRESIDENT AND CEO | $455,899 | $0 | $55,294 | $0 | $0 | $0 | $150,923 | $0 | $29,771 | $0 | $691,887 | $0 | $0 | $0 |
| TONITA WEBB | ||||||||||||||
| EVP AND COO | $304,343 | $0 | $27,373 | $0 | $0 | $0 | $115,522 | $0 | $24,157 | $0 | $471,395 | $0 | $0 | $0 |
| JAVIER D'AGUSTINI | ||||||||||||||
| INTERIM CFO | $178,932 | $0 | $9,225 | $0 | $0 | $0 | $75,301 | $0 | $29,771 | $0 | $293,229 | $0 | $0 | $0 |
| BRENT RICCHINS | ||||||||||||||
| SVP/SERVICE OPERATIONS | $171,667 | $0 | $13,176 | $0 | $0 | $0 | $58,347 | $0 | $25,801 | $0 | $268,991 | $0 | $0 | $0 |
| LEE PIERCE | ||||||||||||||
| SVP OF LENDING | $201,033 | $0 | $12,992 | $0 | $0 | $0 | $73,809 | $0 | $11,060 | $0 | $298,894 | $0 | $0 | $0 |
| WALLACE HO | ||||||||||||||
| SVP COMMERCIAL LENDING | $162,228 | $0 | $12,412 | $0 | $0 | $0 | $60,408 | $0 | $28,864 | $0 | $263,912 | $0 | $0 | $0 |
| DONNA RANSIER | ||||||||||||||
| VP INFORMATION TECHNOLOGY | $179,985 | $0 | $10,324 | $0 | $0 | $0 | $67,868 | $0 | $12,098 | $0 | $270,275 | $0 | $0 | $0 |
| BRANDON ELY | ||||||||||||||
| VP OF INTERNAL AUDIT | $135,191 | $0 | $8,034 | $0 | $0 | $0 | $46,612 | $0 | $29,771 | $0 | $219,608 | $0 | $0 | $0 |
| BARNEY HERRERA | ||||||||||||||
| VP STRATEGIC PARTNERSHIPS | $138,312 | $0 | $7,987 | $0 | $0 | $0 | $47,950 | $0 | $19,673 | $0 | $213,922 | $0 | $0 | $0 |
| CHELISE NEWBOLD | ||||||||||||||
| MORTGAGE LOAN OFFICER | $187,195 | $0 | $0 | $0 | $0 | $0 | $2,819 | $0 | $11,795 | $0 | $201,809 | $0 | $0 | $0 |
| PENNY STAFFORD | ||||||||||||||
| MORTGAGE LOAN OFFICER | $194,878 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11,073 | $0 | $205,951 | $0 | $0 | $0 |
| PAM MUELLER | ||||||||||||||
| VP/LOAN DOCUMENTATION AND OPERATIONS | $123,608 | $0 | $7,488 | $0 | $0 | $0 | $49,122 | $0 | $20,450 | $0 | $200,668 | $0 | $0 | $0 |
| JILL VICENTE | ||||||||||||||
| FORMER OFFICER | $6,244 | $0 | $16,158 | $0 | $547,817 | $0 | $250 | $0 | $0 | $0 | $570,469 | $0 | $244,847 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | TRAVEL OF COMPANIONS IS PROVIDED TO BOARD MEMBERS AND OTHER VOLUNTEERS WHEN ATTENDING APPROVED EDUCATIONAL FORUMS AND CONFERENCES. AMOUNTS REIMBURSED FOR COMPANION TRAVEL ARE TREATED AS TAXABLE. |
| PART I, LINES 4A-B | IN JANUARY 2020 THE CMO WAS PAID SEVERANCE OF $302,970. EFFECTIVE SEPTEMBER 2016, THE CREDIT UNION ENTERED INTO A DEFERRED COMPENSATION AGREEMENT WITH CERTAIN EXECUTIVES THAT PROVIDES BENEFITS PAYABLE TO THESE EMPLOYEES IF THEY REMAIN EMPLOYED BY THE CREDIT UNION BASED ON A CLIFF VESTING SCHEDULE. IF THESE EMPLOYEES BECOME DISABLED, OR AT THE TIME OF DEATH OR CHANGE IN CONTROL OF EMPLOYER, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE; HOWEVER, THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE. THE 2020 ACCRUED DEFERRED COMPENSATION RELATED TO THIS AGREEMENT FOR EMPLOYEES LISTED ON THIS RETURN IS $682,402. THE CEO, COO, AND CFO PARTICIPATE IN THE SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| RICHARD ROMERO | |||||||
| PRESIDENT/CEO | EXECUTIVE COMPENSATION | Yes (X) | $2,400,000 | $2,604,129 | 0 | Yes (1) | Yes (1) |
| TONITA WEBB | |||||||
| EVP/COO | EXECUTIVE COMPENSATION | Yes (X) | $1,600,000 | $1,736,086 | 0 | Yes (1) | Yes (1) |
| JILL VICENTE | |||||||
| SVP/CHIEF MARKETING OFFICER | EXECUTIVE COMPENSATION | Yes (X) | $1,300,000 | $1,410,570 | 0 | Yes (1) | Yes (1) |
| MICHAEL QUAMMA | |||||||
| SVP/CHIEF FINANCIAL OFFICER | EXECUTIVE COMPENSATION | Yes (X) | $3,000,000 | $3,108,465 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $8,859,250 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II, LINE (C) ADDITIONAL EXPLANATION: | FormAndLineReferenceDesc |
| Explanation | EXECUTIVE COMPENSATION UNDER A SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.782-15. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | THE GOVERNING BODY (THE BOARD) DELEGATES SOME AUTHORITY TO SUB-COMMITTEES ALSO COMPRISED OF ELECTED DIRECTORS. WITHIN THE AUTHORITY DELEGATION, THERE IS A COMPENSATION COMMITTEE, A FICOM (FINANCIAL & BUDGET COMMITTEE.) |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP IS OPEN TO ANYONE WHO LIVES OR WORKS IN THE STATE OF WASHINGTON INCLUDING: CITY OF SEATTLE EMPLOYEES, EMPLOYEES OF PARTNER SELECT EMPLOYER GROUPS AND ANY PERSON RELATED TO A CURRENT MEMBER BY BLOOD, MARRIAGE (INCLUDING DOMESTIC PARTNERS), OR ADOPTION, REGARDLESS OF WHERE THAT PERSON LIVES. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE GOVERNING BOARD OF SEATTLE METROPOLITAN CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. |
| FORM 990, PART VI, SECTION A, LINE 7B | AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT WILL REVIEW THE 990 BASED ON THE INFORMATION PROVIDED TO OUR CPA. A COPY OF THE 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR FINAL APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | EMPLOYEES SIGN ANNUALLY THAT THEY HAVE REVIEWED THE CONFLICT OF INTEREST POLICY. THE INTERNAL AUDIT DEPARTMENT AND MANAGERS MONITOR TO ENSURE ANY CONFLICTS OF INTEREST ARE IDENTIFIED. DIRECTORS AND MEMBERS OF COMMITTEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AND POTENTIAL CONFLICTS OF INTEREST, INCLUDING THOSE IN SITUATIONS IN WHICH THEY MAY BE INADVERTENTLY PLACED, AS A RESULT OF BUSINESS OR PERSONAL RELATIONSHIPS WITH MEMBERS, SUPPLIERS, BUSINESS ASSOCIATES, OR COMPETITORS OF THE CREDIT UNION. DIRECTORS AND MEMBERS OF COMMITTEES WILL AVOID ANY INTEREST OR ACTIVITY THAT IS IN CONFLICT WITH THE CONDUCT OF THEIR OFFICIAL DUTIES. DIRECTORS AND MEMBERS OF COMMITTEES WILL RECUSE THEMSELVES FROM CONSIDERATION OF ANY CONTRACT, TRANSACTION OR RELATIONSHIP IN WHICH THEY OR THEIR FAMILY MEMBERS HAVE AN INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE HUMAN RESOURCES DEPARTMENT CONTRACTS AN OUTSIDE FIRM TO REVIEW SALARY, BENEFITS AND PERKS FOR VPS AND ABOVE. THEY DO A MARKET ANALYSIS AT LOCAL AREA AND INDUSTRY LEVEL. THE BOARD CONDUCTS A REVIEW OF THE CEO'S SALARY AND ADJUSTS THEIR SALARY BASED UPON PERFORMANCE. THIS REVIEW PROCESS WAS LAST UNDERTAKEN IN 2020. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE UNAUDITED INTERNAL FINANCIAL STATEMENTS ARE POSTED AT EVERY BRANCH MONTHLY, AND THE AUDITED FINANCIAL STATEMENTS ARE PROVIDED TO THE MEMBERS AT THE ANNUAL MEETING AND ARE POSTED ON OUR WEBSITE. THE GOVERNING DOCUMENTS AND THE CONFLICTS OF INTEREST POLICIES ARE GENERALLY NOT PROVIDED TO THE GENERAL PUBLIC, UNLESS A SPECIFIC INQUIRY IS MADE. |
| FORM 990, PART IX, LINE 11G | CONSULTING FEES 2,013,651. PROCESSING & SERVICE FEES 4,348,889. |