2018-11-14T11:23:34-06:00 2017-12-31 810987947 HAUSER JONES & SAS PLLC 10940 NE 33RD PLACE SUITE 100 BELLEVUE WA 98004 990 2017-01-01 910684272 NORTHWEST PLUS CREDIT UNION NORT 4252971000 2821 HEWITT AVENUE EVERETT WA 982013890 DOUGLAS BENNETT CEO 4252971000 2018-11-13 1 ROGER A JONES CPA P01702335 4258891778 2018-11-12 208.186.241.180 2018-11-13 13:22:02 PS P DB76E8880825B81D3678E5C6633D0A2ABC4FF312 BE724D484AE05375E95B6DA3E309BB5E61E422DC 2017 2019-02-21 02:37:17Z DOUGLAS BENNETT 2821 HEWITT AVENUE EVERETT WA 982013890 10302959 0 X WWW.NWPLUSCU.COM X 1938 WA PROVIDE FINANCIAL SERVICES, SUCH AS LOANS, TO ANYONE WHO LIVES OR WORKS IN WASHINGTON. 9 9 60 12 0 0 0 0 8331733 9485686 588530 557759 0 127876 8920263 10171321 8000 7333 0 0 3281590 3387693 0 0 0 4409700 5009017 7699290 8404043 1220973 1767278 183526780 192458998 164110025 171180461 19416755 21278537 WE ARE COMMITTED TO HELP OUR MEMEBERS GET AHEAD FINANCIALLY THROUGH EXCELLENT SERVICE AND QUALITY PRODUCTS. 0 0 SINCE 1939, NW PLUS CREDIT UNION HAS PROVIDED FINANCIAL SERVICES TO THEEMPLOYEES AND FAMILY MEMBERS OF FRONTIER COMMUNICATIONS FORMERLY KNOWNAS GTE AND VERIZON. SINCE THEN, WE HAVE EXPANDED OUR CHARTER TO INCLUDEANYONE WHO LIVES, WORKS OR WORSHIPS IN THE STATE OF WASHINGTON. NW PLUSCREDIT UNION'S EXISTENCE REFLECTS ITS MEMBERS' COMBINED INTERESTS TOBENEFIT THE GENERAL MEMBERSHIP IN THE LOCAL COMMUNITIES WE SERVE. WEPROVIDE A FULL SPECTRUM OF FINANCIAL PRODUCTS AND SERVICES AND RETURNTHE PROFIT TO OUR MEMBERS, WITH LOWER LOAN RATES AND HIGHER SAVINGSRATES, LOW FEES, AND INNOVATIVE PRODUCTS. THIS DIRECT FINANCIAL VALUEIS GIVEN BACK TO OUR MEMBERS, INSTEAD OF BEING PAID TO A LIMITED NUMBEROF STOCKHOLDERS, OFFICERS, OR OUT-OF-STATE OWNERS, AS MANY BANKS DO. ASOF DECEMBER 31, 2017, NW PLUS CREDIT UNION HAD 17,426 MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2312 0 1 60 1 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DOUGLAS BENNETT 4252971000 2821 HEWITT AVE EVERETT WA 98201 JASON GAMBLE DIRECTOR 2.00 X X 0 0 0 BRAD JONES VICE CHAIRMAN 2.00 X X 0 0 0 MARY BALLARD SECRETARY 2.00 X X 0 0 0 GARY HEILMAN CHAIR 2.00 X X 0 0 0 WARREN KUWAHARA DIRECTOR 2.00 X 0 0 0 JOHN CONDERMAN DIRECTOR 2.00 X 0 0 0 JAMES DREIER DIRECTOR 2.00 X 0 0 0 KIM STONE DIRECTOR 2.00 X 0 0 0 JERRI BARTRAM DIRECTOR 2.00 X 0 0 0 DOUGLAS BENNETT PRESIDENT & CEO 40.00 X 729615 0 246270 TORRIE RAMOS COO 40.00 X 117188 0 15094 846803 0 261364 2 0 1 0 FISERV-GALAXY PO BOX 99924 GRAPEVINE TX 90074 CORE DATA PROCESSING SERVICES 565073 OPEN LENDING 901 S MOPAC EXPY AUSTIN TX 78746 LOAN INSURANCE 312640 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 181918 HABERFELD DIRECT 206 S 13TH ST STE 1500 LINCOLN NE 68508 DIRECT MAIL MARKETING 143671 4 LOAN INTEREST INCOME 522100 5850799 5850799 FEE INCOME 522100 3634887 3634887 9485686 680097 680097 9300 0 131638 9300 -131638 -122338 -122338 LIFE INSURANCE POLICY 524113 127876 127876 127876 10171321 9491224 0 680097 7333 846803 1979582 126000 226439 208869 41161 99332 638930 442078 653378 386437 494686 16984 71067 324395 304668 44471 LOAN SERVICING EXPENSES 680257 PROVISION FOR LOAN LOSS 620000 MISCELLANEOUS EXPENSES 100751 COLLECTION EXPENSES 76198 14224 8404043 2014422 1516521 26089899 14226014 188732 570253 113545511 127069127 475150 704698 9622441 3713580 6063588 5908861 27339260 33695087 7810218 8768437 183526780 192458998 2348670 2692688 161761355 168487773 164110025 171180461 X 0 0 0 0 19416755 21278537 19416755 21278537 183526780 192458998 1767278 94504 0 X 0 0 0 1681008 1681008 5782041 1899094 3882947 349785 265959 83826 1093929 952816 141113 715678 595711 119967 5908861 104284 F AVAILABLE FOR SALE 33590803 F 33695087 MEMBER SHARES AND DEPOSITS 168487773 168487773 1 COLLEGE SCHOLARSHIPS 10 7333 PART I, LINE 2: ALL SCHOLARSHIP WINNERS MUST FILL OUT A SCHOLARSHIP AWARD FORM DETAILING THEIR SCHOOL THEY WILL BE ATTENDING ALONG WITH THE ADDRESS THAT THE CHECK MUST BE SENT TO. OUR AVP MARKETING CREATES LETTERS TO EACH SCHOOL INSTRUCTING THE SCHOOL TO PUT THE FUNDS INTO THE STUDENTS' ACCOUNTS TO BE USED FOR THEIR NEEDS DURING THE SCHOOL YEAR. X X X X 0 1 0 DOUGLAS BENNETT PRESIDENT & CEO 706045 0 22550 0 1020 0 234270 0 12000 0 975885 0 0 0 PART I, LINE 4B THE CREDIT UNION ENTERED INTO A DEFERRED COMPENSATION AGREEMENT UNDER IRC SECTION 457(F) WITH A SENIOR OFFICER. DURING 2017, THE OFFICER (DOUG BENNETT), RECEIVED A DISTRIBUTION IN THE AMOUNT OF $500,000 FROM THE PLAN. EFFECTIVE NOVEMBER 2011, UNDER THE AMENDED PLAN, IF THE OFFICER IS EMPLOYED BY THE CREDIT UNION ON HIS 68TH BIRTHDAY, HE WILL RECEIVE A LUMP-SUM BENEFIT DISTRIBUTION OF $648,114. IF THE VOLUNTARILY SEPARATED FOR GOOD REASON PRIOR TO ALL OF THE PROMISED PLAN EQUAL TO THE ACCRUED LIABILITY BALANCE OF THE OFFICER'S 457(F) ACCOUNT AT PLAN, IF THE OFFICER IS EMPLOYED BY THE CREDIT UNION ON HIS 68TH BIRTHDAY, OFFICER WERE TO BECOME DISABLED, INVOLUNTARILY TERMINATED WITHOUT CAUSE, OR DISTRIBUTIONS BEING MADE, THE CREDIT UNION WOULD PAY THE OFFICER A BENEFIT THE TIME OF TERMINATION. THE PAYMENT OF THE ACCRUED BALANCE WILL BE MADE IN A LUMP SUM AND THE PLAN SHALL TERMINATE. THE RELATED LIABILITY WAS $775,142 AND $754,564 AT DECEMBER 31, 2017 AND 2016, RESPECTIVELY. IF THE OFFICER WERE TO DIE WHILE ACTIVELY EMPLOYED WITH THE CREDIT UNION AND PRIOR TO THE PROMISED PLAN DISTRIBUTION BEING MADE, THE OFFICER'S BENEFICIARY WOULD RECEIVE A LUMP SUM DISTRIBUTION EQUAL TO THE TARGET RETIREMENT AGE DISTRIBUTION. IF THE OFFICER LEAVES THE CREDIT UNION VOLUNTARILY, OR IS TERMINATED FOR CAUSE PRIOR TO REACHING THE DISTRIBUTION DATE, ALL REMAINING BENEFITS WILL BE FORFEITED. FORM 990, PART VI, SECTION A, LINE 6 CREDIT UNION MEMBERS ARE MEMBERS OF A FINANCIAL COOPERATIVE. EACH DEPOSITOR IS REQUIRED TO BE A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERS ELECT MEMBERS TO THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS INITIALLY REVIEWED BY THE CEO AND CFO BEFORE BEING PRESENTED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW. THE BOARD OF DIRECTORS COMPLETES THEIR FINAL REVIEW BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT, WHICH DEFINES FIDUCIARY DUTY. MANAGEMENT REVIEWS ALL VENDORS FOR POTENTIAL OWNERSHIP INTEREST BY BOARD MEMBERS OR RELATED PARTIES AS PART OF THE VENDOR APPROVAL PROCESS. NO DIRECTOR, COMMITTEE MEMBER, OFFICER, OR EMPLOYEE OF THE CREDIT UNION MAY HAVE A FINANCIAL INTEREST IN ANY CONTRACT OR TRANSACTION WITH THE CREDIT UNION UNLESS THIS INTEREST IS DISCLOSED AND MADE KNOWN TO THE BOARD OF DIRECTORS. NO DIRECTOR OR COMMITTEE MEMBER OF THE CREDIT UNION WILL PARTICIPATE IN THE DELIBERATION OF ANY QUESTION AFFECTING HIS OR HER OWN PECUNIARY INTEREST. SUCH DIRECTOR OR COMMITTEE MEMBER WILL WITHDRAW FROM THE DELIBERATION AND DECISION UPON SUCH INTEREST. FORM 990, PART VI, SECTION B, LINE 15 INDUSTRY BENCHMARK STANDARDS AS PROVIDED BY THRID PARTY COMPENSATION CONSULTANTS ARE USED ANNUALLY IN DETERMINING SENIOR MANAGEMENT COMPENSATION LEVELS. CEO SETS OFFICER SALARIES BASED ON INDUSTRY SURVEY AND PEER COMPARISON; BOARD OF DIRECTORS APPROVES RANGES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS AND OTHER INTERESTED PARTIES OF THE PUBLIC UPON REQUEST.