2018-11-09T17:08:45-06:00 2017-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2017-01-01 930163693 SELCO COMMUNITY CREDIT UNION SELC 5416868000 PO BOX 7487 SPRINGFIELD OR 97475 TIFFANY WASHINGTON SENIOR VP OF FINANCE 5416868000 2018-11-07 1 WENDY CAMPOS P00448102 5032421447 2018-11-07 12.129.7.100 2018-11-07 16:53:11 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 E5FA0928A2FC35F014850BBF8B7653D327C9AB0B 2017 2019-02-21 02:37:17Z J ROBERT NEWCOMB PO BOX 7487 SPRINGFIELD OR 97475 98772666 0 X WWW.SELCO.ORG X 1936 OR SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 7 7 428 11 104254 -233739 0 0 51756978 57071504 2348763 3218012 7256356 8240513 61362097 68530029 62646 69309 0 0 23461113 27471447 0 0 0 23830316 26381283 47354075 53922039 14008022 14607990 1426271904 1529534336 1274489752 1361569397 151782152 167964939 SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 0 0 THE CREDIT UNION PAID OVER $4.2 MILLION IN DIVIDENDS TO MEMBERS. DEPOSIT ACCOUNTS INCLUDE SAVINGS, CHECKING, MONEY MARKET ACCOUNTS AND CERTIFICATES OF DEPOSIT. AS OF DECEMBER 31, 2017, DEPOSITS TOTALED $1.35 BILLION. THE CREDIT UNION DISBURSED OVER $519 MILLION IN NEW LOANS TO MEMBERS. LOANS INCLUDE AUTO, HOME MORTGAGE, HOME EQUITY, CREDIT CARD, AND BUSINESS LOANS. AT DECEMBER 31, 2017, LOANS OUTSTANDING TOTALED $1.27 BILLION. DURING 2017, THE CREDIT UNION PROVIDED FINANCIAL PLANNING SERVICES TO APPROXIMATELY 2,700 MEMBERS WITH ASSETS UNDER MANAGEMENT OF $332.6 MILLION. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 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 32283 0 1 428 1 1 1 0 0 0 0 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 KAY LEFRANCQ DIRECTOR 2.00 X 0 0 0 HAROLD WELBORN DIRECTOR 2.00 X 2314 0 0 DICK METZLER DIRECTOR 2.00 X 2146 0 0 JEANNE STATON DIRECTOR 2.00 X 1758 0 0 CURT HEIMULLER DIRECTOR 2.00 X 0 0 0 CAROL BECKLEY VICE CHAIR 2.00 X X 0 0 0 JIM LINDLY CHAIR 3.00 X X 970 0 0 J ROBERT NEWCOMB CEO/SECRETARY/DIRECTOR 60.00 5.00 X 3655595 1914 59296 TIFFANY WASHINGTON SVP FINANCE & MEMBER SOLUTIONS 50.00 X 286312 0 27708 CRAIG CARPENTER SVP LENDING & BUSINESS SOLUTIONS 50.00 X 266917 0 27708 EDWARD D RUBIN VP INVESTMENT & RETIREMENT SVCS 50.00 X 245374 0 27344 STEVEN MCINTIRE VP ADMINISTRATION & GENERAL COUNSEL 50.00 X 258141 0 27441 KIRK LETOURNEAU VP INFORMATION SYSTEMS & TECH 50.00 X 239414 0 25549 SCOTT HIRSHHORN SENIOR MORTGAGE LOAN OFFICER 45.00 X 187985 0 22917 TIMOTHY BOOHER MORTGAGE LOAN OFFICER 45.00 X 183694 0 22522 5330620 1914 240485 30 0 1 0 MCKENZIE COMMERCIAL CONTRACTORS 865 W 2ND AVE EUGENE OR 97402 BUILDING CONSTRUCTION AND MAINTENANCE 2487724 DVA ADVERTISING 109 NW GREENWOOD AVE BEND OR 97701 ADVERTISING CONTENT AND PLACEMENT 1793632 NCR CORPORATION 14181 COLLECTION CENTER DR CHICAGO IL 60693 ATM EQUIPMENT AND MAINTENANCE 447549 INFOIMAGE 141 JEFFERSON DR MENLO PARK CA 94025 PRINTING SERVICES 365028 MARQUIS PO BOX 660919 DALLAS TX 75266 DATA ANALYSIS 270881 23 INTEREST ON LOANS 522100 44686805 44686805 SERVICE CHARGES AND FE 522100 12384699 12006736 377963 57071504 2899845 -273709 3173554 61047 44834 16213 16213 16213 18785014 11730956 18366982 11830821 418032 -99865 318167 -83688 401855 INTERCHANGE INCOME 900099 8239019 8239019 OTHER REVENUE 900099 -14719 -14719 8224300 68530029 64834153 104254 3591622 39309 30000 4330724 15681225 2828607 2675212 1955679 28774 87440 321232 2710182 3765070 1955138 2487679 294774 4224232 181058 LOAN SERVICING 4110557 PROVISION FOR LOAN LOSS 3432088 ASSOCIATION DUES 146636 TAXES ON UBI 150 2636273 53922039 9740189 10054823 104326416 83685638 4231174 4623770 1139152141 1266570032 49060610 23912713 23939026 25147897 119511969 114128054 5954040 5799156 508697 257756 18908252 19267210 1426271904 1529534336 7386144 9210261 223984 330971 1266879624 1352028165 1274489752 1361569397 X 0 0 0 0 151782152 167964939 151782152 167964939 1426271904 1529534336 X 14607990 1381534 193263 X 0 1 X 1 0 0 1 X 6083208 6083208 25825907 9629713 16196194 882930 879627 3303 16268565 13403373 2865192 25147897 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1349739418 DEFERRED COMPENSATION LIABILITY 2288747 1352028165 X PART IV, LINE 2B: AT DECEMBER 31, 2017, THE CREDIT UNION MAINTAINED MORTGAGE ESCROW ACCOUNTS TOTALING $330,971. PART X, LINE 2: FIN 48 (ASC 740) FINANCIAL STATEMENT FOOTNOTE - THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2017 AND 2016. 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, 2017 AND 2016, IT RECOGNIZED NO MATERIAL INTEREST OR PENALTIES. 1 BEND LAPINE SCHOOL DISTRICT 520 NW WALL STREET BEND OR 97701 936000393 7028 FMV CLASSROOM SUPPORT ALBANY SCHOOL DISTRICT 718 SEVENTH AVENUE ALBANY OR 97321 936002755 6739 FMV CLASSROOM SUPPORT 2 0 STUDENT SCHOLARSHIPS 20 30000 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 1075384 0 465413 0 2114798 1914 38250 0 21045 0 3714890 1914 2033154 0 TIFFANY WASHINGTON SVP FINANCE & MEMBER SOLUTIONS 251050 0 29474 0 5788 0 20250 0 7458 0 314020 0 0 0 CRAIG CARPENTER SVP LENDING & BUSINESS SOLUTIONS 235821 0 28650 0 2446 0 20250 0 7458 0 294625 0 0 0 EDWARD D RUBIN VP INVESTMENT & RETIREMENT SVCS 238214 0 6790 0 370 0 20250 0 7094 0 272718 0 0 0 STEVEN MCINTIRE VP ADMINISTRATION & GENERAL COUNSEL 231833 0 25644 0 664 0 19983 0 7458 0 285582 0 0 0 KIRK LETOURNEAU VP INFORMATION SYSTEMS & TECH 215800 0 22891 0 723 0 18091 0 7458 0 264963 0 0 0 SCOTT HIRSHHORN SENIOR MORTGAGE LOAN OFFICER 187122 0 593 0 270 0 15460 0 7458 0 210903 0 0 0 TIMOTHY BOOHER MORTGAGE LOAN OFFICER 182789 0 635 0 270 0 15064 0 7458 0 206216 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. PLAN BENEFITS OF $2,033,154 WERE PAID IN SEPTEMBER 2017. ADDITIONAL PLAN BENEFITS WILL BE PAID IN OCTOBER 2019 AND SEPTEMBER 2020. PLAN EARNINGS FOR 2017 WERE $913,262. 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. PLAN EARNINGS IN 2017 WERE $647,638. J ROBERT NEWCOMB CEO SPLIT-DOLLAR LIFE INSURANCE X 813420 4288457 0 1 1 J ROBERT NEWCOMB CEO HOME MORTGAGE X 725000 335313 0 1 1 4623770 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. HISTORICALLY, THE CREDIT UNION EXECUTIVE SOCIETY (CUES) SURVEY WAS USED AS A BASELINE FOR SALARY AND COMPENSATION GUIDANCE FOR THE CHIEF EXECUTIVE OFFICER (CEO) AND THE EXECUTIVE TEAM. THE NUMBER OF PARTICIPANTS REPORTING CEO SALARIES HAS DECLINED TO A LEVEL THAT THIS SURVEY NO LONGER PROVIDES MEANINGFUL DATA. 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 193,263. INOVA LLC PO BOX 7487 EUGENE OR 97401 272430222 CONSULTING OR N/A UNRELATED 981 63864 0 981 1 0.50000 SELCO GROUP INCORPORATED 925 HARLOW ROAD SPRINGFIELD OR 97477 930829603 INSURANCE AGENCY OR SELCO COMMUNITY CREDIT UNION C 233865 1518716 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 SELCO GROUP INCORPORATED A 61047 FMV/CASH PAID SELCO GROUP INCORPORATED L 187530 FMV/CASH PAID SELCO GROUP INCORPORATED M 24000 FMV/CASH PAID SELCO GROUP INCORPORATED Q 187530 FMV/CASH PAID