2018-05-04T15:00:03-05:00 2017-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2017-01-01 930444581 OREGON STATE CREDIT UNION OREG 5417144000 PO BOX 306 CORVALLIS OR 973390306 RICHARD HEIN PRESIDENT/CEO 5417144000 2018-05-04 1 DOUGLAS J ORTH P01076394 3052328272 2017 2022-09-23 18:48:47Z X RICHARD HEIN PO BOX 306 CORVALLIS OR 973390306 108880740 0 X WWW.OREGONSTATECU.COM X 1954 OR PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 10 10 302 12 449948 -76314 0 0 29883061 36820512 4073959 4362919 9000412 9138724 42957432 50322155 137111 153030 0 0 18180909 20588912 0 0 0 14931986 19083242 33250006 39825184 9707426 10496971 1096382589 1188850394 980036883 1061668099 116345706 127182295 PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 0 0 THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. AS OF DECEMBER 31, 2017 THE CREDIT UNION HAD APPROXIMATELY 108,000 MEMBERS, OF WHICH 48,445 MEMBERS HAVE ACTIVE LOANS. THE TOTAL NUMBER OF DEPOSIT AND SHARE ACCOUNTS WAS 209,635 AND THE TOTAL NUMBER OF LOANS OUTSTANDING WAS 65,474. 0 0 1 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 0 0 0 0 0 0 0 0 0 1 0 0 0 1 14228 0 1 302 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X BONNIE HUMPHREY-ANDERSON 5417144000 4800 SW RESEARCH WAY CORVALLIS OR 97333 NADINE DAVISON DIRECTOR 1.00 X 0 0 0 TIM ROCAK DIRECTOR 1.00 X 0 0 0 JAY CONROY DIRECTOR 1.00 X 0 0 0 MIKE GREEN DIRECTOR 1.00 X 0 0 0 RON STEVENS DIRECTOR 1.00 X 0 0 0 SHANNON CRUZ CHAIRMAN 1.00 X 0 0 0 PAUL DICKEY DIRECTOR 1.00 X 0 0 0 JIM SWINYARD DIRECTOR 1.00 X 0 0 0 JIM PATTERSON DIRECTOR 1.00 X 0 0 0 KELLEY KAISER DIRECTOR 1.00 X 0 0 0 RICHARD HEIN PRESIDENT/CEO 40.00 X 592453 0 188681 BONNIE HUMPHREY-ANDERSON EXECUTIVE VP/CFO 40.00 X 324211 0 144671 RHONDA HEILE-BROWN EXECUTIVE VP/COO 40.00 X 264421 0 98421 CRAIG COLE EVP/CIO 40.00 X 235865 0 118473 DEBRA RIGGLE VP FINANCIAL SERVICES 40.00 X 458386 0 35125 JIM GIBSON VP BRANCH SERVICES 40.00 X 185268 0 55630 JAIMY HERBERT EXT MORG LN OFFICER 40.00 X 275852 0 28295 JENNIFER HUMCKE ASSISTANT VP OF FINANCE 40.00 X 162350 0 32255 RICHARD HOLLON AVP CAS 40.00 X 157410 0 29065 LAURIE ROE AVP EMPLOYEE DEVELOPMENT 40.00 X 164854 0 31189 CARRIE CHAFFEE AVP HUMAN RESOURCES 40.00 X 157572 0 30759 2978642 0 792564 30 0 1 0 VISA USA PO BOX 742233 LOS ANGELES CA 90074 CARD PROCESSING 1423913 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT AND FORMS PRINTING 943834 COOP 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 ATM SERVICES 747165 AUGEO 1620 BOND ST NAPERIVLLE IL 60563 MARKETING 629012 DIGITAL INSIGHT PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING 582430 31 INCOME ON LOANS 522100 32014929 32014929 FEES AND CHARGES 522100 4355674 4355674 UNRELATED BUSINESS INCOME 525990 349309 349309 UNRELATED BUSINESS INCOME 524298 96855 96855 UNRELATED BUSINESS INCOME 524298 3745 3745 36820512 4052311 4052272 39 57752991 1116202 57699797 858788 53194 257414 310608 310608 INTERCHANGE INCOME 522100 6172075 6172075 OTHER INCOME 522100 1697458 1697458 MORTGAGE SERVICING RIGHTS 522100 1269191 1269191 9138724 50322155 49872207 449948 0 133030 20000 2701605 11382444 1547968 3707422 1249473 44090 170705 31245 2138471 990169 2948440 1152160 2422262 35034 102850 1095933 1948402 132299 PROVISION FOR LOAN LOSS 3141069 OTHER LOAN EXP 2409874 ATM EXPENSES 146066 OPERATING FEES 132961 41212 39825184 16060692 16058824 40867290 35308737 569487 483813 710804478 883769437 1215406 1504778 53848912 14639318 38704674 39209594 247878193 174256915 1775300 1915700 38507069 36342596 1096382589 1188850394 13747293 19944957 4818955 2366407 961470635 1039356735 980036883 1061668099 X 0 0 0 0 116345706 127182295 116345706 127182295 1096382589 1188850394 X 10496971 223816 115802 X X 0 1 X 1 0 10000 10000 10000 1 NORTHWEST CU ASSOC - CREDIT UNION LEGISLATIVE ACTION FUND 18000 INTERNATIONAL BLVD SUITE 35 SEATAC OR 98188 930953556 10000 0 1 X 7369343 7369343 32815283 6601431 26213852 714579 373208 341371 12949707 7664679 5285028 39209594 SHARE DRAFTS 266353566 SHARES 207638281 MONEY MARKET ACCOUNTS 477996856 IRA/HEALTH SAVINGS ACCOUNTS 20443871 SHARE AND IRA CERTIFICATES 66924161 1039356735 X PART IV, LINE 2B: THE CREDIT UNION COLLECTS (ON A MONTHLY BASIS) PAYMENT FROM THEIR MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INLCUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14), FROM FEDERAL INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED 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 DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2016, 2015, AND 2014 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. 1 ABC HOUSE INC PO BOX 68 ALBANY OR 97321 931163555 501(C)(3) 5000 DONATION TO A CAPITAL BUILDING CAMPAIGN, OPERATION SUPPORT WESTERN OREGON UNIVERSITY FOUNDATION 345 MONMOUTH AVE N MONMOUTH OR 97361 936033807 501(C)(3) 11000 DONATION FOR GENERAL SUPPORT AND FOR SCHOLARSHIPS CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 30000 DONATION TO LOCAL CHILDRENS HOSPITAL VIA NATIONAL CHARITY LINN-BENTON COMMUNITY COLLEGE 6500 PACIFIC BLVD SW ALBANY OR 97321 237212073 501(C)(3) 6500 SCHOLARSHIP SUPPORT OREGON STATE UNIVERSITY FOUNDATION 850 SW 35 STREET CORVALLIS OR 97333 936022772 501(C)(3) 15500 DONATION TO BUILDING CAMPAIGN AND SCHOLARSHIP SUPPORT BOY & GIRLS CLUB OF CORVALLIS 1112 NW CIRCLE BLVD CORVALLIS OR 97330 237153987 501(C)(3) 5000 DONATION TO BUILDING CAMPAIGN 6 SCHOLARSHIPS 10 20000 BOOK PART I, LINE 2: EACH SCHOLARSHIP RECIPIENT MUST PROVIDE PROOF OF FALL ENROLLMENT AT COLLEGE OR UNIVERSITY. THE SELECTION AND AWARD PROCESS IS DOCUMENTED IN CREDIT UNION'S POLICIES/PROCEDURES. RECORDS OF SELECTION IS MAINTAINED FOR A MINIMUM OF THREE YEARS. X X X X 0 1 0 RICHARD HEIN PRESIDENT/CEO 500500 0 85000 0 6953 0 178448 0 10233 0 781134 0 0 0 BONNIE HUMPHREY-ANDERSON EXECUTIVE VP/CFO 261864 0 55030 0 7317 0 134534 0 10137 0 468882 0 0 0 RHONDA HEILE-BROWN EXECUTIVE VP/COO 212801 0 42670 0 8950 0 88828 0 9593 0 362842 0 0 0 CRAIG COLE EVP/CIO 191404 0 44461 0 0 0 108415 0 10058 0 354338 0 0 0 DEBRA RIGGLE VP FINANCIAL SERVICES 168268 0 25942 0 264176 0 25240 0 9885 0 493511 0 0 0 JIM GIBSON VP BRANCH SERVICES 160284 0 24984 0 0 0 45770 0 9860 0 240898 0 0 0 JAIMY HERBERT EXT MORG LN OFFICER 272510 0 3342 0 0 0 19101 0 9194 0 304147 0 0 0 JENNIFER HUMCKE ASSISTANT VP OF FINANCE 149630 0 12720 0 0 0 22444 0 9811 0 194605 0 0 0 RICHARD HOLLON AVP CAS 128925 0 28485 0 0 0 19339 0 9726 0 186475 0 0 0 LAURIE ROE AVP EMPLOYEE DEVELOPMENT 142689 0 22165 0 0 0 21403 0 9786 0 196043 0 0 0 CARRIE CHAFFEE AVP HUMAN RESOURCES 140576 0 16996 0 0 0 21086 0 9673 0 188331 0 0 0 PART I, LINE 4B SOME MEMBERS OF THE EXECUTIVE LEADERSHIP PARTICIPATE IN NON-QUALIFIED RETIREMENT PLANS. THE FOLLOWING REPRESENT THE AMOUNTS ACCRUED FOR EACH PARTICIPANT DURING THE YEAR ENDED DECEMBER 31, 2017: R. HEIN, 457F SERP $137,948 B. HUMPHREY-ANDERSON, 457F SERP $98,534 R. HEILE-BROWN, 457F SERP $56,908 C. COLE, 457F SERP $79,704 J. GIBSON, 457F SERP $21,727 D. RIGGLE RECEIVED A 457F PAYOUT OF $263,230 DURING 2017. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE FORM 990 IN DETAIL BEFORE FILING. ADDITIONALLY, THE FORM 990 IS PROVIDED TO THE MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO FILING. THE MEMBERS OF THE BOARD OF DIRECTORS ARE GIVEN SUFFICIENT TIME TO SUBMIT ANY QUESTIONS REGARDING THE RETURN AS WELL AS RECEIVE ANSWERS TO THEIR QUESTIONS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS ENFORCED IN TWO WAYS - 1) UPON HIRING, EMPLOYEES ARE REQUIRED TO READ AND CERTIFY THEIR ACCEPTANCE OF THE POLICY, AND 2) ANNUALLY EXPECTATIONS INCLUDING CONFLICT OF INTEREST ARE REVIEWED WITH ALL STAFF INCLUDING A REMINDER TO UPDATE DISCLOSURE OF CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THIRD PARTY SALARY FOR THE CEO POSITION AND WORKS WITH THIRD PARTY TO PREPARE A PERFORMANCE REVIEW AND COMPENSATION PLAN. THIRD PARTY SALARY INFORMATION IS USED TO CREATE SALARY RANGES AND PERFORMANCE INCREASES ARE DETERMINED WITHOUT THIRD PARTY ASSISTANCE. FOR OTHER KEY POSITIONS, THIRD PARTY SALARY INFORMATION IS USED TO CREATE SALARY RANGES. PERFORMANCE INCREASES ARE DETERMINED WITHOUT THIRD PARTY ASSISTANCE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART XI, LINE 9: UNREALIZED HOLDING GAINS ON POST RETIREMENT BENEFIT ASSETS 115,802. PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT AUDITORS. OSU FINANCIAL SERVICES LLC 1980 NW 9TH STREET CORVALLIS OR 97339 931101064 INSURANCE PRODUCTS OR 96894 165587 OREGON STATE CREDIT UNION