2020-11-10T13:56:27-06:00 2019-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2019-02-01 820201645 POTLATCH NO 1 FINANCIAL CREDIT UNION POTL 2087468900 1025 WARNER AVE LEWISTON ID 83501 CHRISTOPHER LOSETH PRESIDENT/CEO 2087468900 2020-11-03 1 EMINA O CRESSWELL CPA P01217304 5097472600 2020-11-03 107.77.205.79 2020-11-03 16:35:42 PS P 1B4A60EF0ED4E711D4310D4348A8AF7D79F8713A 5C7DDF4DB5D450AC47B8022FAE3A848B90DE5F8D 2019 2021-04-22 16:20:28Z X CHRISTOPHER LOSETH 1025 WARNER AVE LEWISTON ID 83501 59506164 0 X WWW.P1FCU.ORG X 2019 ID WE PLEDGE TO SERVE EVERY MEMBER WITH THE HIGHEST LEVELS OF SINCERITY, FAIRNESS, COURTESY, RESPECT, AND GRATITUDE, DELIVERED WITH UNPARALLELED RESPONSIVENESS, EXPERTISE, EFFICIENCY AND ACCURACY. 9 9 274 12 106735 0 0 58066118 57222433 1037852 2277631 -12678 59103970 59487386 414837 592733 0 17895996 18704666 0 0 29439836 30662127 47750669 49959526 11353301 9527860 1103364882 1262893936 1007105374 1156668269 96259508 106225667 X WE PLEDGE TO SERVE EVERY MEMBER WITH THE HIGHEST LEVELS OF SINCERITY, FAIRNESS, COURTESY, RESPECT, AND GRATITUDE, DELIVERED WITH UNPARALLELED RESPONSIVENESS, EXPERTISE, EFFICIENCY AND ACCURACY. WE ARE IN BUSINESS TO CREATE LASTING RELATIONSHIPS, AND WE WILL TREAT OUR MEMBERS LIKE WE WANT TO BE TREATED. WE WILL OFFER THE FINEST PERSONAL SERVICE AND PRODUCTS DELIVERED BY CARING TEAM MEMBERS WHO TAKE 100 PERCENT RESPONSIBILITY FOR MEETING THE NEEDS OF EACH MEMBER. 0 0 PROVIDE FINANCIAL SERVICES TO 92,373 MEMBERS. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, CONSUMER AUTO LENDING, CONSUMER MORTGAGE LENDING, COMMERCIAL LENDING, DEPOSIT ACCOUNTS, SAVINGS, CHECKING, MONEY MARKETS AND CD'S. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 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 0 0 0 1 20660 0 1 274 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X PAUL MCCALL 2087468900 1025 WARNER AVE LEWISTON ID 83501 TOD DICKESON BOARD CHAIR 5.00 X X 0 0 0 TARA LEER BOARD VICE CHAIR 5.00 X X 0 0 0 RANDY BUTTENHOFF TREASURER 5.00 X X 0 0 0 GARY GILLIAM SECRETARY 5.00 X X 0 0 0 TOM PFLIGER BOARD MEMBER 5.00 X 0 0 0 DOUGLAS MUSHLITZ BOARD MEMBER 5.00 X 0 0 0 CHRIS MARTSON BOARD MEMBER 5.00 X 0 0 0 HOLLI BALMER BOARD MEMBER 5.00 X 0 0 0 JIM FULLER BOARD MEMBER 5.00 X 0 0 0 CHRISTOPHER LOSETH PRESIDENT/CEO 60.00 X 860824 0 527989 PATTI MESHISHNEK EXECUTIVE VP/CHIEF LENDING OFFICER 60.00 X 474288 0 158257 TROY SANDVICK CHIEF OPERATIONS OFFICER 60.00 X 303340 0 105240 CRAIG EMERSON CHIEF FINANCIAL OFFICER 60.00 X 225045 0 107767 MICHAEL VOGELER CHIEF STRATEGY OFFICER 60.00 X 110151 0 22329 MICHAEL MOSER MORTGAGE SERVICES MANAGER 40.00 X 166086 0 82166 CLINTON JOHNSON VICE PRESIDENT OF DATA & ANALYTICS 40.00 X 166819 0 41094 ELIZABETH BARNES MORTGAGE LOAN UNDERWRITER 40.00 X 124965 0 78617 ROB CASSETTO BUSINESS SERVICES MANAGER 40.00 X 120858 0 61497 DAVID LUMLEY BUSINESS SALES REPRESENTATIVE 40.00 X 135696 0 43580 2688072 0 1228536 21 0 1 0 FINANCIAL SUPERMARKETS INC PO BOX 1450 CORNELIA GA 30531 NEW BRANCH VENDOR 808218 JACK HENRY & ASSOCIATES INC 663 US-60 MONETT MO 65708 CORE PROCESSOR VENDOR 623868 COOK SECURITY GROUP 9225 NE CASCADES PARKWAY PORTLAND OR 97220 ATM/ITM/BRANCH SECURITY VENDOR 565323 AVTEX SOLUTIONS LLC 3500 AMERICAN BLVD WEST BLOOMINGTON MN 55431 PHONE SYSTEM VENDOR 476907 JESS AUTO LLC PO BOX 3669 OMAK WA 98841 INDIRECT DEALER 262009 16 LOAN INTEREST 522100 42863505 42863505 FEE INCOME 522100 7216026 7109291 106735 VISA/DEBIT CARD INCOME 522100 4292645 4292645 OTHER INCOME 524258 2850257 2850257 57222433 2277631 2277631 6100 18778 -12678 -12678 -12678 59487386 57115698 106735 2264953 582733 10000 2768109 11833512 1398895 1711172 992978 74833 1355397 914507 4046380 1721471 1117885 136861 43833 12004015 1327641 200632 PROVISION FOR LOAN LOSS 4630982 VISA/DEBIT CARD EXPENSE 1928183 LOAN SERVICING 1011123 TRAINING 45845 102539 49959526 7913887 22771210 94828643 109280306 2820193 3188778 1097679 24092697 940030083 1036211729 35512525 12667585 17844260 22844940 3778933 3943428 229000 229000 34822204 40331848 1103364882 1262893936 8254875 5614610 998850499 1151053659 1007105374 1156668269 X 2640324 2640324 0 0 93619184 103585343 96259508 106225667 1103364882 1262893936 X 9527860 438299 X 0 0 0 0 1 X 4656570 4656570 21046531 7043416 14003115 1676386 539846 1136540 7739071 4758336 2980735 393967 325987 67980 22844940 457(F) LIABILITIES 3216304 DIVIDENDS AND INTEREST PAYABLE 39195 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1147798160 1151053659 PART IV, LINE 2B: WE ESCROW PROPERTY TAXES, INSURANCE, AND PMI (IF APPLICABLE) FOR OUR MORTGAGE MEMBERS. PMI IS PAID OUT MONTHLY TO OUR INSURERS, HOME OWNERS INSURANCE IS PAID OUT ANNUALLY, AND PROPERTY TAXES ARE PAID OUT TO THE COUNTIES ON A TWICE A YEAR (BASED ON THE DUE DATES OF THE TAXES IN EACH COUNTY). WE ALSO RUN ESCROW ANALYSIS IN FEBRUARY EACH YEAR, AND ADJUST WHAT IS DUE FOR OUR MEMBERS AT THAT TIME, AS WELL AS EITHER SENDING ANY SURPLUS OF ESCROWS PAID, OR GIVING THEM AN OPPORTUNITY TO PAY A DEFICIT INLIEU OF A HIGHER MONTHLY PAYMENT. 1 INDEPENDENT SCHOOL DISTRICT #1 3317 12TH ST LEWISTON ID 83501 826000549 GOVERNMENT 14584 PERFORMING ARTS CENTER DONATION BOYS & GIRLS CLUB OF LEWIS CLARK VALLEY 1021 BURRELL AVE LEWISTON ID 83501 826001432 501(C)(3) 49750 2019 SPONSORSHIP IDAHO FOOD BANK 3630 E COMMERCIAL COURT MERIDIAN ID 83642 820425400 501(C)(3) 22000 DONATION TO HELP DISTRIBUTE FOOD WREATHS ACROSS AMERCIA 4 POINT ST COLUMBIA FALLS ME 04623 208362270 501(C)(3) 19000 WREATH DONATION LEWIS-CLARK STATE COLLEGE DEPT OF ATHLETICS 500 8TH AVE LEWISTON ID 83501 826000935 501(C)(3) 44400 ACTIVITY CENTER SIGN SPONSOR AND ANNUAL SPONSOR DONATION UNIVERSITY OF IDAHO 875 PERIMETER DR MOSCOW ID 83844 826000945 GOVERNMENT 10000 2019 ANNUAL SPONSOR DONATION VALLEY VISION 313 D ST SUITE 201 LEWISTON ID 83501 841367690 501(C)(6) 7500 2019 ANNUAL SPONSOR DONATION LEWIS-CLARK STATE COLLEGE 500 8TH AVE LEWISTON ID 83501 826000935 501(C)(3) 6429 LEMON DROPS AUCTION SPONSOR 7 1 SCHOLARSHIPS 10 10000 FORM 990, SCH. I, PART IV THE GRANTS ARE DONATIONS TO LOCAL REPUTABLE ORGANIZATIONS, THEREFORE NONE OF THE FUNDS ARE USED OUTSIDE THE US. X X X 0 1 0 CHRISTOPHER LOSETH PRESIDENT/CEO 860824 0 0 0 0 0 491877 0 36112 0 1388813 0 0 0 PATTI MESHISHNEK EXECUTIVE VP/CHIEF LENDING OFFICER 474288 0 0 0 0 0 101290 0 56967 0 632545 0 0 0 TROY SANDVICK CHIEF OPERATIONS OFFICER 303340 0 0 0 0 0 67585 0 37655 0 408580 0 0 0 CRAIG EMERSON CHIEF FINANCIAL OFFICER 225045 0 0 0 0 0 95216 0 12551 0 332812 0 0 0 MICHAEL MOSER MORTGAGE SERVICES MANAGER 161459 0 4627 0 0 0 70921 0 11245 0 248252 0 0 0 CLINTON JOHNSON VICE PRESIDENT OF DATA & ANALYTICS 162019 0 4800 0 0 0 28118 0 12976 0 207913 0 0 0 ELIZABETH BARNES MORTGAGE LOAN UNDERWRITER 121352 0 3613 0 0 0 66420 0 12197 0 203582 0 0 0 ROB CASSETTO BUSINESS SERVICES MANAGER 117410 0 3448 0 0 0 53959 0 7538 0 182355 0 0 0 DAVID LUMLEY BUSINESS SALES REPRESENTATIVE 131777 0 3919 0 0 0 32756 0 10824 0 179276 0 0 0 PART I, LINE 4B CHRIS LOSETH, CEO PARTICIPATES IN A 457(F) PLAN. THE AMOUNT EARNED IN 2019 WAS $385,705. CHRIS LOSETH, CEO, PATTI MESHISHNEK, EVP/CLO, AND TROY SANDVICK, COO, PARTICIPATE IN THE SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15. CHRIS LOSETH PRESIDENT/CEO EXECUTIVE COMPENSATION X 22843867 22843867 0 1 1 PATTI MESHISHNEK EVP/CLO EXECUTIVE COMPENSATION X 1491945 830717 0 1 1 TROY SANDVICK COO EXECUTIVE COMPENSATION X 1152538 418113 0 1 1 24092697 SCHEDULE L, PART II, LINE (C) ADDITIONAL EXPLANATION: EXECUTIVE COMPENSATION UNDER A SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15. FORM 990, PART VI, SECTION A, LINE 6 ALL MEMBERS ARE IN THE SAME CLASS. MEMBERS ARE REQUIRED TO HAVE A MEMBERSHIP SHARE WITH AT LEAST $35 IN THE ACCOUNT. THE MEMBER ALSO MUST BE AT LEAST 18 YEARS OLD, AND NOT HAVE A DELINQUENT LOAN OR DEPOSIT ACCOUNT WITH THE CREDIT UNION TO BE ELIGIBLE TO VOTE. THE MEMBERSHIP PRIMARILY ONLY VOTES ANNUALLY TO ELECT OUR BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A P1FCU DOES AN ANNUAL VOTE TO ELECT BOARD MEMBERS TO THE BOARD. THOSE BOARD CANDIDATES ARE SELECTED BY THE CURRENT BOARD OR BY VOLUNTEER 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 THE VP OF ACCOUNTING PREPARES THE INFORMATION PROVIDED TO MOSS ADAMS (A CPA FIRM), THE VP OF ACCOUNTING AND THE CFO BOTH REVIEW THE INITIAL DRAFT OF THE FROM 990, AND WHEN THEIR REVIEW IS COMPLETE THE CEO REVIEWS THE FORM 990 AND SIGNS WHEN THE REVIEW IS CONSIDERED TO BE SATISFACTORY. 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 FOR 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 VOTE 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 OR STUDY BY AN INDEPENDENT COMPENSATION CONSULTANT. THE CEO'S COMPENSATION DISCUSSIONS IS DOCUMENTED IN THE BOARD MINUTES. THE COMPENSATION FOR EMPLOYEES AND OTHER OFFICERS BESIDES THE CEO IS REVIEWED AND BASED ON COMPARABLE DATA AND CUNA'S CREDIT UNION COMPENSATION STUDY. THIS PROCESS IS OVERSEEN BY HR. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATION MAKES IT GOVERNING DOCUMENTS AVAILABLE AT ITS ANNUAL MEETING AND UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN UNDIVIDED EARNINGS 479,429. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME -41,130. 2019 SHORT YEAR FORM 990 AS OF FEBRUARY 2019, THE CREDIT UNION CHANGED ITS NAME FROM POTLATCH NO. 1 FEDERAL CREDIT UNION TO POTLATCH NO. 1 FINANCIAL CREDIT UNION. CHARTER WAS CHANGED AT THAT TIME FROM A FEDERALLY CHARTERED CREDIT UNION TO AN IDAHO STATE CHARTERED CREDIT UNION. THUS THE 2019 FORM 990 FOR POTLATCH NO. 1 FINANCIAL CREDIT UNION IS A FIRST YEAR SHORT YEAR RETURN FOR THE PERIOD FROM FEBRUARY 2019 TO DECEMBER 2019.