2025-09-10T17:12:03-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 820201645 POTLATCH NO1 FINANCIAL CREDIT UNION POTL 2087468900 1025 WARNER AVENUE LEWISTON ID 83501 CHRISTOPHER LOSETH CEO 2087468900 2025-09-09 0 AUBREY CLEGG P01076395 3052328272 2025-09-05 2024 2025-03-06 01:10:19Z CHRISTOPHER LOSETH 1025 WARNER AVENUE LEWISTON ID 83501 149606550 0 X WWW.P1FCU.ORG X 2019 ID WE PLEDGE TO SERVE EVERY MEMBER WITH THE HIGHEST LEVEL OF SINCERITY, FAIRNESS, COURTESY, RESPECT, AND GRATITUDE, DELIVERED WITH UNPARALLELED RESPONSIVENESS, EXPERTISE, EFFICIENCY AND ACCURACY. 9 9 483 9 191061 0 4840204 0 111051727 126138555 21867429 23467995 -125791 0 137633569 149606550 1269178 1111891 26979886 0 44168309 44959051 0 0 0 58286400 107745372 130703773 153816314 6929796 -4209764 2198335162 2114556930 2068494988 1986952283 129840174 127604647 P1FCU IS COMMITTED TO FINANCIAL WELL-BEING FOR ALL AND COMMUNITY ENRICHMENT IN THE PACIFIC NORTHWEST. WE BUILD STRONGER COMMUNITIES WITH MEMBER-DRIVEN SERVICE AND MODERN FINANCIAL SOLUTIONS WHILE CONTINUING OUR TRADITION OF TRUST. 0 0 PROVIDE FINANCIAL SERVICES TO 127,873 MEMBERS. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, CONSUMER AUTO LENDING, CONSUMER MORTGAGE LENDING, COMMERCIAL LENDING, DEPOSIT ACCOUNTS INCLUDING SAVINGS, CHECKING, MONEY MARKETS AND CD'S. 0 0 0 0 0 0 0 0 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 25984 0 1 483 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X PAUL MCCALL 2087468900 1025 WARNER AVENUE LEWISTON ID 83501 TOD DICKESON BOARD CHAIR 5.00 X 0 0 0 KYLE MORSCHECK BOARD VICE CHAIR 5.00 X 0 0 0 TARA LEER BOARD TREASURER 5.00 X 0 0 0 MICHELLE BLY BOARD SECRETARY 5.00 X 0 0 0 TOM PFILGER BOARD MEMBER 5.00 X 2125 0 0 WANDA KEEFER BOARD MEMBER 5.00 X 0 0 0 DUANE WRIGHT BOARD MEMBER 5.00 X 0 0 0 BRETT KINZER BOARD MEMBER 5.00 X 0 0 0 KYM CLIFT BOARD MEMBER 5.00 X 0 0 0 CHRISTOPHER LOSETH PRESIDENT/CEO 60.00 X 5524124 0 216739 CRAIG EMERSON CHIEF FINANCIAL OFFICER 60.00 X 1063451 0 38491 TROY SANDVICK CHIEF DATA OFFICER 60.00 X 458987 0 102278 RICHARD PAIGE CHIEF ADMINISTRATIVE OFFICER 60.00 X 440160 0 41610 MICHAEL VOGELER CHIEF OPERATIONS OFFICER 60.00 X 422402 0 64176 BRENT GIFFORD CHIEF INFORMATION OFFICER 60.00 X 392203 0 57529 ELIZABETH BARNES CHIEF CREDIT ADMINISTRATION OFFICER 60.00 X 295235 0 402752 DENNIS JANIKOWSKI SVP LENDING 60.00 X 281914 0 50576 PAUL MCCALL SVP FINANCE 60.00 X 237847 0 125261 VANESSA BROEMELING SVP CULTURE 60.00 X 206060 0 100693 ARLENE EARL SVP RISK & COMPLIANCE 60.00 X 200840 0 251322 CLINTON JOHNSON VP DATA & ANALYTICS 40.00 X 276210 0 137505 NATHANAEL NORMAN VP INFORMATION SECURITY 40.00 X 214984 0 109777 JENIFER PIPER VP MEMBER ENGAGEMENT 40.00 X 207603 0 20690 KARI MURILLO VP PRODUCT MANAGEMENT 40.00 X 190232 0 133015 WESLEY GOSSAGE VP MORTGAGE LENDING 40.00 X 182851 0 34432 10597228 0 1886846 84 0 1 0 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 CORE PROCESSOR 2699914 COOK SOLUTIONS GROUP INC 9225 NE CASCADAS PARKWAY PORTLAND OR 97220 SECURITY AND ITM/ATM SUPPORT 1361430 Q2 SOFTWARE INC 10355 PECAN PARK BLVD STE 100 AUSTIN TX 78729 ONLINE BANKING PROVIDER 1321927 XPRESS DATA INC 10983 VIA FRONTERA SAN DIEGO CA 92127 STATEMENT PROVIDER 986244 VELOCITY SOLUTIONS INC 3901 TECHNOLOGY DRIVE PADUCAH KY 42001 MEMBER ENGAGEMENT SOLUTION 815261 53 LOAN INTEREST 522100 99275033 99275033 FEES AND OTHER 522100 26672461 26672461 FINANCE AND INSURANCE 520000 191061 191061 126138555 23467995 23467995 149606550 125947494 191061 23467995 1091891 20000 9905776 24088179 4227220 4129911 2607965 37809 614000 2787275 2235119 4761944 7111597 2449417 303747 229815 59305868 2597493 282596 PROVISION FOR LOAN LOSS 15164308 DEBIT CARD EXPENSE 4655473 LOAN SERVICING 2858930 MISCELLANEOUS 2349981 153816314 22189054 23952151 73527299 31134050 65396143 63880352 1804774640 1761618666 19100202 9885626 60655184 20488102 38147646 40167082 81017382 72020827 8633470 10089986 85549326 101808190 2198335162 2114556930 20457950 13881026 138333742 75000000 19000000 19000000 1890703296 1879071257 2068494988 1986952283 X 0 0 0 0 129840174 127604647 129840174 127604647 2198335162 2114556930 X -4209764 -1381803 3356040 X X 0 1 X 1 0 7617382 7617382 36976730 11734337 25242393 2940116 823099 2117017 13120956 7930666 5190290 40167082 MEMBER SHARES 1871060865 LEASE LIABILITIES 3837700 ACCRUED INTEREST PAYABLE 12740 457F LIABILITIES 4159952 1879071257 X 149606550 0 149606550 0 149606550 153816314 0 153816314 0 153816314 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)14), FROM FEDERAL AND STATE INCOME TAXES. 1 ASOTIN COUNTY FAIR LIVESTOCK SALE 419 FAIRGROUNDS RD ASOTIN WA 99402 453917169 501(C)(3) 29825 0 COMMUNITY DEVELOPMENT ASOTIN COUNTY RURAL LIBRARY DISTRICT 417 SYCAMORE ST CLARKSTON WA 99403 611852266 501(C)(3) 22012 0 COMMUNITY DEVELOPMENT BOISE PROFESSIONAL BASEBALL 5600 N GLENWOOD ST BOISE ID 83714 471615125 501(C)(3) 9000 0 COMMUNITY DEVELOPMENT BOYS & GIRLS CLUBS OF THE LEWIS CLARK VALLEY 819 12TH ST LEWISTON ID 83501 826001432 501(C)(3) 131750 0 COMMUNITY DEVELOPMENT FRONTIER DAYS FOUNDATION 363 ORCHARD ST WALLA WALLA WA 99362 911705239 501(C)(3) 15492 0 COMMUNITY DEVELOPMENT GINA QUESENBERRY FOUNDATION PO BOX 506 LEWISTON ID 83501 204797777 501(C)(3) 18073 0 COMMUNITY DEVELOPMENT IDAHO VANDALS FOOTBALL 875 PERIMETER DRIVE MOSCOW ID 83844 826000945 501(C)(3) 6000 0 COMMUNITY DEVELOPMENT LEWISTON INDEPENDENT SCHOOL DISTRICT #1 3317 12TH STREET LEWISTON ID 83501 826000549 GOVERNMENT 135000 0 COMMUNITY DEVELOPMENT INTEGRITY DESIGN COPYWORKS LLC 214 E ROSE ST WALLA WALLA WA 99362 721573429 LLC 16639 0 COMMUNITY DEVELOPMENT LCSC FOUNDATION 500 8TH AVENUE LEWISTON ID 83501 826000935 501(C)(3) 200000 0 COMMUNITY DEVELOPMENT LEWIS CLARK ANIMAL SHELTER 6 SHELTER ROAD LEWISTON ID 83501 820207503 501(C)(3) 7917 0 COMMUNITY DEVELOPMENT PULLMAN HIGH SCHOOL 510 NW GREYHOUND WAY PULLMAN WA 99163 916013617 GOVERNMENT 5055 0 COMMUNITY DEVELOPMENT TRISTATE HOSPITAL FOUNDATION 1215 EVERGREEN CT STE 1 CLARKSTON WA 99403 911307818 501(C)(3) 66750 0 COMMUNITY DEVELOPMENT TWIN COUNTY UNITED WAY 128 MAIN ST SUITE 1 LEWISTON ID 83501 820261086 501(C)(3) 23437 0 COMMUNITY DEVELOPMENT WALLA WALLA COMMUNITY COLLEGE 500 TAUSICK WAY WALLA WALLA WA 99362 911207033 501(C)(3) 5500 0 COMMUNITY DEVELOPMENT WALLA WALLA COUNTY 310 W POPLAR STREET SUITE 200 WALLA WALLA WA 99362 916001381 GOVERNMENT 50000 0 COMMUNITY DEVELOPMENT ASOTIN COUNTY FOOD BANK 1546 MAPLE ST CLARKSTON WA 99403 820388109 501(C)(3) 5500 0 COMMUNITY DEVELOPMENT GOWEST CREDIT UNION ASSOCIATION 18000 INTERNATIONAL BLVD STE 1102 SEATAC WA 98188 911649328 501(C)(6) 11258 0 COMMUNITY DEVELOPMENT IDAHO FOODBANK 3630 E COMMERCIAL CT MERIDIAN ID 83642 820425400 501(C)(3) 5500 0 COMMUNITY DEVELOPMENT VALLEY VISION 313 D ST STE 201 LEWISTON ID 83501 841367690 501(C)(6) 9166 0 COMMUNITY DEVELOPMENT 14 6 SCHOLARSHIPS 20 20000 PART I, LINE 2: THESE ARE CHARITABLE CONTRIBUTIONS, NOT GRANTS. THEREFORE, THERE IS NO SUBSEQUENT MONITORING BY THE CREDIT UNION. FORM 990, SCHEDULE I, PART III: P1FCU HAS A SCHOLARSHIP COMMITTEE THAT INCLUDES EXECUTIVE MANAGEMENT, SENIOR LEADERSHIP AND BOARD MEMBERS. THEY DETERMINE WHICH STUDENTS RECEIVE SCHOLARSHIPS BASED ON THE APPLICATION INFORMATION RECEIVED. X X 0 1 0 CHRISTOPHER LOSETH PRESIDENT/CEO 1563930 0 0 0 3960194 0 177601 0 39138 0 5740863 0 646755 0 CRAIG EMERSON CHIEF FINANCIAL OFFICER 639207 0 0 0 424244 0 17250 0 21241 0 1101942 0 424244 0 ELIZABETH BARNES CHIEF CREDIT ADMINISTRATION OFFICER 295235 0 0 0 0 0 388137 0 14615 0 697987 0 0 0 TROY SANDVICK CHIEF DATA OFFICER 458987 0 0 0 0 0 76411 0 25867 0 561265 0 0 0 MICHAEL VOGELER CHIEF OPERATIONS OFFICER 422402 0 0 0 0 0 54856 0 9320 0 486578 0 0 0 RICHARD PAIGE CHIEF ADMINISTRATIVE OFFICER 440160 0 0 0 0 0 31782 0 9828 0 481770 0 0 0 ARLENE EARL SVP RISK & COMPLIANCE 200840 0 0 0 0 0 233211 0 18111 0 452162 0 0 0 BRENT GIFFORD CHIEF INFORMATION OFFICER 392203 0 0 0 0 0 32824 0 24705 0 449732 0 0 0 CLINTON JOHNSON VP DATA & ANALYTICS 276210 0 0 0 0 0 112800 0 24705 0 413715 0 0 0 PAUL MCCALL SVP FINANCE 237847 0 0 0 0 0 102260 0 23001 0 363108 0 0 0 DENNIS JANIKOWSKI SVP LENDING 281914 0 0 0 0 0 26560 0 24016 0 332490 0 0 0 NATHANAEL NORMAN VP INFORMATION SECURITY 214984 0 0 0 0 0 94381 0 15396 0 324761 0 0 0 KARI MURILLO VP PRODUCT MANAGEMENT 190232 0 0 0 0 0 119926 0 13089 0 323247 0 0 0 VANESSA BROEMELING SVP CULTURE 206060 0 0 0 0 0 91765 0 8928 0 306753 0 0 0 JENIFER PIPER VP MEMBER ENGAGEMENT 207603 0 0 0 0 0 10229 0 10461 0 228293 0 0 0 WESLEY GOSSAGE VP MORTGAGE LENDING 182851 0 0 0 0 0 18037 0 16395 0 217283 0 0 0 PART I, LINE 4B CHRISTOPHER LOSETH: $646,755 CRAIG EMERSON: $424,244 THE ORGANIZATION OFFERS A 457(F) NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT TO SELECT EXECUTIVE OFFICERS AT THE CREDIT UNION. DURING 2024, THE CREDIT UNION RECORDED AN ACCRUED EXPENSE FOR THE BENEFITS CORRESPONDING TO THE FOLLOWING EMPLOYEES: ELIZABETH BARNES: $67,439 PAUL MCCALL: $54,454 VANESSA BROEMELING: $58,667 ARLENE EARL: $69,208 CLINTON JOHNSON: $75,435 NATHANAEL NORMAN: $60,078 KARI MURILLO: $61,490 CHRISTOPHER LOSETH, TROY SANDVICK, MICHAEL VOGELER, BRENT GIFFORD AND RICHARD PAIGE PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMENTAL RETIREMENT PLAN. THEIR LOANS RELATED TO THIS PLAN ARE REPORTED ON SCHEDULE L. CHRISTOPHER LOSETH PRESIDENT/CEO SPLIT DOLLAR X 22843867 25335815 0 1 1 PATTI MESHISHNEK FORMER EVP/CLO SPLIT DOLLAR X 9450000 11216358 0 1 1 TROY SANDVICK CHIEF DATA OFFICER SPLIT DOLLAR X 3475000 4158832 0 1 1 MICHAEL VOGELER CHIEF OPERATIONS OFFICER SPLIT DOLLAR X 1550000 1825537 0 1 1 BRENT GIFFORD CHIEF INFORMATION OFFICER SPLIT DOLLAR X 8000000 7583719 0 1 1 ANDREW HEIMGARTNER FORMER CHIEF LENDING OFFICER SPLIT DOLLAR X 2350000 539203 0 1 1 CHERI SCHAAFS FORMER BRANCH MANAGER SPLIT DOLLAR X 2475000 2621508 0 1 1 JANA ENRY FORMER CXO SPLIT DOLLAR X 4685000 1727459 0 1 1 RICHARD PAIGE CHIEF ADMINISTRATIVE OFFICER SPLIT DOLLAR X 8250000 8871921 0 1 1 63880352 FORM 990, SCH L, PART II: THE CREDIT UNION ENTERED INTO FULL RECOURSE COLLATERAL ASSIGNED SPLIT DOLLAR AGREEMENTS WITH CERTAIN CURRENT AND FORMER EXECUTIVES. THE AGREEMENTS INVOLVE A METHOD OF PAYING FOR INSURANCE COVERAGE FOR THE INSURANCE COVERAGE BY SPLITTING THE ELEMENTS OF THE LIFE INSURANCE POLICIES. UNDER THESE AGREEMENTS, THE EXECUTIVES ARE THE OWNERS OF THE POLICIES AND MAKE COLLATERAL ASSIGNMENTS TO THE CREDIT UNION IN RETURN FOR LOANS EQUAL TO THE AMOUNT OF PREMIUMS PAID ON BEHALF OF THE EXECUTIVES PLUS ACCRUED INTEREST AT A SPECIFIC RATE. SUCH AGREEMENTS ARE RECORDED AT THE RECORDED INVESTMENT BALANCE OF THE LOANS TO THE EXECUTIVES AS OF THE STATEMENT OF FINANCIAL CONDITION DATE. INCOME RECOGNIZED UNDER THESE AGREEMENTS IS INCLUDED IN NON-INTEREST INCOME ON THE STATEMENTS OF EARNINGS. AT THE TIME OF DEATH, THE CREDIT UNION WILL BE PAID THE LOAN AMOUNT PLUS ACCRUED INTEREST AND THE BALANCE OF THE INSURANCE BENEFITS WILL BE PAID TO THE EXECUTIVES' DESIGNATED BENEFICIARIES. FORM 990, PART VI, SECTION A, LINE 6 PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S ARTICLES OF INCORPORATION, CHARTER, AND BYLAWS. THIS GENERALLY CONSISTS OF THE FOLLOWING: IDAHO MEMBERSHIP ALL EMPLOYEES, EMPLOYERS, STUDENTS, AND RETIREES OF AGRICULTURE, FORESTRY, FISHING AND HUNTING, MINING, UTILITIES, CONSTRUCTION, MANUFACTURING, WHOLESALE TRADE, RETAIL TRADE, TRANSPORTATION AND WAREHOUSING, INFORMATION, FINANCE AND INSURANCE, REAL ESTATE AND RENTAL AND LEASING, PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES, MANAGEMENT OF COMPANIES AND ENTERPRISES, ADMINISTRATIVE AND SUPPORT AND WASTE MANAGEMENT AND REMEDIATION SERVICES, EDUCATIONAL SERVICES, HEALTH CARE AND SOCIAL ASSISTANCE, ARTS, ENTERTAINMENT, AND RECREATION, ACCOMMODATIONS AND FOOD SERVICES, OTHER SERVICES, AND PUBLIC ADMINISTRATION AS DEFINED IN THE NORTH AMERICAN INDUSTRY CLASSIFICATION SYSTEM WHO RESIDE IN, WORK IN, ARE HEADQUARTERED IN OR ARE PAID FROM ADAMS, BENEWAH, BOUNDARY, CLEARWATER, GEM, IDAHO, KOOTENAI, LATAH, LEWIS, NEZ PERCE, PAYETTE, SHOSHONE, WASHINGTON, AND VALLEY COUNTIES AND THE ORGANIZATIONS OF SUCH PERSONS. OREGON MEMBERSHIP PERSONS WHO LIVE OR WORK IN OR ORGANIZATIONS LOCATED WITHIN THE COMMUNITIES IN OREGON CONSISTING OF BAKER, GRANT, HARNEY, MALHEUR, MORROW, UMATILLA, UNION, AND WALLOWA COUNTIES, OREGON. WASHINGTON MEMBERSHIP NATURAL PERSONS WHO LIVE, WORK, WORSHIP, OR GO TO SCHOOL IN THE STATE OF WASHINGTON. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF P1FCU VOTE ANNUALLY TO ELECT BOARD MEMBERS TO THE BOARD. THOSE BOARD CANDIDATES ARE SELECTED BY THE CURRENT BOARD OR BY VOLUNTEERS VIA NEWSLETTER. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF P1FCU ARE REQUIRED TO VOTE ON MATTERS SUCH AS A CHARTER CHANGE OR A POSSIBLE MERGER. FORM 990, PART VI, SECTION B, LINE 11B ONCE THE DRAFT IS SUBMITTED TO THE CREDIT UNION BY THE PAID PREPARERS, IT WILL BE REVIEWED BY THE ACCOUNTING MANAGER, SVP OF FINANCE, AND CFO BEFORE THE DRAFT IS SUBMITTED TO THE PRESIDENT/CEO FOR SIGNING AND FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS AN EMPLOYEE HANDBOOK THAT INCLUDES THE CONFLICT-OF-INTEREST POLICY THAT IS REQUIRED TO BE SIGNED ANNUALLY BY ALL EMPLOYEES. THE CONFLICT-OF-INTEREST POLICY IS ALSO APPLICABLE TO BOARD MEMBERS. THE CEO MONITORS THE CONFLICT-OF-INTEREST POLICY FOR BOARD MEMBERS AND HR MONITORS THE POLICY FOR EMPLOYEES. THE BOARD MEMBER WOULD ABSTAIN FROM THE VOTING IF THERE WAS A CONFLICT OF INTEREST IDENTIFIED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS REVIEWED ANNUALLY BASED ON A PERFORMANCE EVALUATION ON THE ANNIVERSARY DATE OF THE OFFICER OR EMPLOYEE. THE CEO'S COMPENSATION IS DETERMINED BASED UPON A COMPENSATION COMMITTEE THAT USES A COMPENSATION SURVEY/STUDY BY AN INDEPENDENT COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE AT ITS ANNUAL MEETING AND UPON REQUEST. FORM 990, PART XI, LINE 9: DEFINED BENEFIT PENSION PLAN: CHANGE IN ACTUARIAL GAINS/(LOSSES) ARISING DURING THE PERIOD 2,516,162. DEFINED BENEFIT PENSION PLAN: AMORTIZATION OF UNRECOGNIZED OTHER GAINS/(LOSSES) 626,166. DEFINED BENEFIT PENSION PLAN: AMORTIZATION OF PRIOR SERVICE COST 213,712. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.