2017-11-15T16:38:32-06:00 2016-12-31 411944416 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2016-01-01 910440744 CREDIT UNIONS IN THE STATE OF WASHINGTON TWINSTAR CREDIT UNION CRED 3603579911 PO BOX 718 OLYMPIA WA 98507 KIM PETERSON CFO 3603579911 2017-11-14 1 GERALD B KISSELL P00092658 6123324300 108.171.131.189 2017-11-14 18:45:47 CS P 01563F10D6676BDC9B96404AA3206AA292B808E6 5AB5DFEC54AF030231DDAA57F2AFD57D98013E0B 2016 2017-02-10 21:41:12Z TWINSTAR CREDIT UNION JEFF KENNEDY PO BOX 718 OLYMPIA WA 98507 110834966 0 X WWW.TWINSTARCU.COM X 1937 WA IN 2014 WE ADOPTED OUR BRAND PROMISE: REALIZING FINANCIAL DREAMS TOGETHER. THE SHORT, SIMPLE PHRASE CAPTURES ALL OF OUR STRATEGIC INTENT IN JUST A FEW WORDS. WE HAVE THE PEOPLE, TOOLS AND VALUE SYSTEMS IN PLACE TO HELP OUR MEMBERS NOT ONLY HAVE A GREAT PLACE TO BANK BUT ALSO HAVE A PROSPEROUS FUTURE. 8 8 427 34 200354 -713991 0 0 66638195 70477605 2645959 3067498 -51756 83215 69232398 73628318 218554 272369 3361646 3492365 26061581 27927203 0 0 0 31582322 33303055 61224103 64994992 8008295 8633326 1048463368 1167403727 943801391 1054135910 104661977 113267817 X IN 2014 WE ADOPTED OUR BRAND PROMISE: REALIZING FINANCIAL DREAMS TOGETHER. THE SHORT, SIMPLE PHRASE CAPTURES ALL OF OUR STRATEGIC INTENT IN JUST A FEW WORDS. WE HAVE THE PEOPLE, TOOLS AND VALUE SYSTEMS IN PLACE TO HELP OUR MEMBERS NOT ONLY HAVE A GREAT PLACE TO BANK BUT ALSO HAVE A PROSPEROUS FUTURE. THE PROMISE PROVIDES VALUABLE DIFFERENTIATION FOR TWINSTAR AS MANY OTHER BANKING INSTITUTIONS CANNOT PROVIDE THE SAME EXPERIENCE. 0 0 SHARE ACCOUNTS: TWINSTAR SAVINGS ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. TWINSTAR HAD 115,159 MEMBER-OWNER ACCOUNTS ON DECEMBER 31, 2016. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE, MOBILE BANKING AND VIA ATMS WORLDWIDE. SPECIAL SAVINGS ACCOUNTS ARE DESIGNED FOR CHILDREN AND TEENAGERS TO ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. CHECKING ACCOUNTS: TWINSTAR PROVIDES CHECKING ACCOUNTS FOR CONSUMERS WITH VARIOUS FEATURES, FROM FREE ACCOUNTS TO THOSE WITH ENHANCED BENEFITS. MOST OFFER DIVIDENDS THAT ARE PAID MONTHLY. ADDITIONALLY, TWINSTAR EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS, MOBILE BANKING AND FREE USE OF THE INTERNET BILL PAYER PLATFORM. CONSUMER LOANS: TWINSTAR CREDIT UNION HAS PROVIDED VEHICLE LOANS SINCE ITS EARLY YEARS. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR RECREATIONAL VEHICLES, BOATS AND MOTORCYCLES. TWINSTAR ALSO OFFERS VISA CREDIT CARDS TO MEMBERS. THIS PRODUCT LINE SATISFIES MEMBERS DIVERSE BORROWING NEEDS, FROM A SHARE SECURED CARD TO A CREDIT LINE FOR YOUNG BORROWERS TO A CARD WITH LARGER CREDIT LINES AND LOW INTEREST RATES. TWINSTAR ALSO OFFERS HOME EQUITY/REAL ESTATE LOANS AND BUSINESS LOANS. 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 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 25472 0 1 427 1 1 1 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X KIM PETERSON 3609234408 4525 INTELCO LOOP SE LACEY WA 98503 RHODETTA SEWARD BOARD CHAIR 1.00 X X 0 0 0 GAYLA GJERTSEN VICE CHAIR 1.00 X X 0 0 0 KIM MARTIN SECRETARY 1.00 X X 0 0 0 RON HASTIE DIRECTOR AT LARGE 1.00 X X 0 0 0 ANIL PURI DIRECTOR 1.00 X 0 0 0 DONNA FELICIANO DIRECTOR 1.00 X 0 0 0 MARK NEARY DIRECTOR 1.00 X 0 0 0 DALE TOSLAND DIRECTOR 1.00 X 0 0 0 JEFF KENNEDY CEO/PRESIDENT/TREASURER 40.00 X 545685 0 114579 KIMBERLY PETERSON CHIEF FINANCIAL OFFICER 40.00 X 176701 0 17342 REBECCA BREEN CHIEF OPERATIONS OFFICER 40.00 X 221173 0 27864 SCOTT DAUKAS CHIEF RISK OFFICER 40.00 X 361469 0 111301 ELKAN WOLLENBERG CHIEF TECHNOLOGY OFFICER 40.00 X 191429 0 55502 MARY BETH SPUCK CHIEF ADMINISTRATIVE OFFICER 40.00 X 340448 0 115891 MATTHEW DEVLIN CHIEF MARKETING OFFICER 40.00 X 185182 0 55121 AARON PALMER CHIEF LENDING OFFICER 40.00 X 181026 0 18595 SHARON WEINBERG CHIEF CREDIT OFFICER 40.00 X 186720 0 26979 JERROD KELLER CHIEF SALES OFFICER 40.00 X 172722 0 16634 MEGGAN ANDERSON BRANCH MORTGAGE LOAN OFFICER 40.00 X 150810 0 12125 PATRICE KRUGER AVP/BRANCH DELIVERY 40.00 X 144956 0 17752 CHRISTOPHER HECK DIRECTOR/BUSINESS LENDING 40.00 X 144380 0 16105 RACARDO MCLAUGHLIN AVP/MORTGAGE ORIGINATION 40.00 X 141248 0 18888 CANDICE MILLS SENIOR FINANCIAL ADVISOR 40.00 X 139479 0 17991 3283428 0 642669 27 0 1 0 MOMENTUM INC 1520 4TH AVE STE 300 SEATTLE WA 98101 BUILDING DESIGN & CONSTRUCTION 1754226 Q2 SOFTWARE INC PO BOX 678272 DALLAS TX 752678272 ONLINE BANKING SERVICES 1389754 STRATEGIC RESOURCE MANAGEMENT 5100 POPLAR AVE STE 2500 MEMPHIS TN 38137 CONTRACT NEGOTIATION 682500 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 SOFTWARE MAINTENANCE/CONSULTING 633896 CENTURYLINK - 52187 PO BOX 52187 PHOENIX AZ 850722187 TELECOMMUNICATION SERVICES 504355 30 INTEREST ON LOANS 522100 43718424 43718424 FEES AND CHARGES 522100 17782701 17104205 678496 VISA/INTERCHANGE INCOME 522100 9127642 9127642 OTHER INCOME 522100 342332 342332 PARAGON INVESTMENT 522100 -493494 -493494 70477605 1557875 1557875 97979 94975 3004 3004 3004 18933361 19687935 18913074 18198599 20287 1489336 1509623 1509623 SUBSIDIARY NET INCOME 522100 80211 64859 15352 80211 73628318 70357462 200354 3070502 272369 3492365 3139211 18715512 864826 3487040 1720614 51116 208327 674547 1362663 2383356 1975774 1992205 23687 651245 110817 239683 2882526 251976 MEMBER SERVICES 7386120 PROVISION FOR LOAN LOSS 6814429 LOAN SERVICING EXPENSES 5740408 EMPLOYEE TRAINING/WORKS 328044 226132 64994992 118916282 106769016 2775654 3139726 777918649 876864440 1258101 2253253 62568946 27631696 27890257 34937250 64604118 78914917 13976402 19731310 3334 0 41120571 44793815 1048463368 1167403727 10453597 12892052 1996459 2031793 10000000 10000000 921351335 1029212065 943801391 1054135910 X 0 0 0 0 104661977 113267817 104661977 113267817 1048463368 1167403727 X 8633326 -225917 198431 X 0 1 X 1 0 19479 150 19479 19479 1 CREDIT UNION LEGISLATIVE ACTION FUND (CULAF) 18000 INTERNATIONAL BLVD STE 350 SEATAC WA 98188 910460483 17479 JAY INSLEE FOR WASHINGTON PO BOX 21067 SEATTLE WA 98111 2000 PART I-A, LINE 1: MEMBERS OF THE CREDIT UNIONS'S MANAGEMENT TEAM ATTENDED CREDIT UNION DAY AT THE CAPITOL IN OLYMPIA, WA. THE CREDIT UNION RAISED $2,375 IN DIRECT EMPLOYEE CONTRIBUTIONS FOR A SUMMER AND FALL CULAC MONTH. EMPLOYEES PARTICIPATING IN MONTHLY CULAC PAYROLL DEDUCTION CONTRIBUTE OVER $200/MONTH. MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, SENIOR MANAGEMENT, AND MANAGEMENT TEAM ATTENDED CUNA'S GOVERNMENT AFFAIRS CONFERENCE IN FEBRUARY. MEMBERS OF THE BOARD OF DIRECTORS, SENIOR MANAGEMENT, AND MANAGEMENT TEAM ATTENDED FUNDRAISERS FOR STATE LEGISLATIVE AND FEDERAL CONGRESSIONAL CANDIDATES. THE CREDIT UNION PARTICIPATED IN THE NORTHWEST CREDIT UNION ASSOCIATION'S GOVERNMENT AFFAIRS; ADVOCACY; POLITICAL ACTION; AND REGULATORY ADVOCACY COMMITTEES. 0 1 X 7973833 7973833 31857670 11364592 20493078 3099267 1576373 1522894 19638176 14690731 4947445 34937250 SHAREHOLDER DEPOSITS 1027218621 DEFERRED COMPENSATION LIABILITIES 1993444 1029212065 X PART IV, LINE 2B: WHEN OUR MORTGAGE SERVICER (MS) RECEIVES LOAN PAYMENTS FROM OUR MEMBERS, THEY REMIT THE FUNDS TO THE CREDIT UNION VIA ACH. THE FUNDS ARE HELD IN A CUSTODIAL ACCT AND ARE APPLIED TO THE APPROPRIATE GLS AT THE START OF THE MONTH. TAXES AND INSURANCE PAYMENTS COLLECTED BY OUR MS ARE ALSO HELD IN A CUSTODIAL ACCT AND PERIODIC WITHDRAWALS ARE MADE AS ESCROW ITEMS ARE PAID. PART X, LINE 2: THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2016 AND 2015. THE CREDIT UNION'S 2013 THROUGH 2015 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 HANDS ON CHILDRENS MUSEUM 414 JEFFERSON ST NE OLYMPIA WA 98501 911405065 501C3 7310 BUILDING BETTER COMMUNITY TWINSTAR COMMUNITY FOUNDATION PO BOX 718 OLYMPIA WA 98507 371768613 501C3 105900 COLLEGE/HIGHER ED SCHOLARSHIPS LACEY SOUTH SOUND CHAMBER 8300 QUINAULT DR NE STE A LACEY WA 985165831 910842081 501C6 10500 BUILDING BETTER COMMUNITY UNITED WAY OF THURSTON COUNTY 1211 4TH AVE E STE 101 OLYMPIA WA 985064279 910713462 501C3 10000 BUILDING BETTER COMMUNITY SECRETARY OF STATECOMBINED FUND DRIVE PO BOX 40224 OLYMPIA WA 985040224 916001106 10000 COMBINED FUND DRIVE KGY INCTOY DEPLOYMENT PO BOX 1249 OLYMPIA WA 98507 910893078 8380 TOYS FOR CHILDREN OF MILITARY PERSONNEL SAINT MARTINS UNIVERSITY 5300 PACIFIC AVE SE LACEY WA 98503 910564993 501C3 6580 BUILDING BETTER COMMUNITY 5 2 PART I, LINE 2: ANNUALLY, TWINSTAR CU THROUGH THE TWINSTAR COMMUNITY FOUNDATION AWARDS SCHOLARSHIPS TO ELIGIBLE MEMBERS VIA TWO SEPARATE PROGRAMS: INCOMING FRESHMEN PROGRAM AND HIGHER EDUCATION/OR CURRENT COLLEGE ENROLLEES PROGRAM. AWARDEES ARE DETERMINED BY THE SCHOLARSHIP COMMITTTEE WHO GRADES EACH APPLICATION. THE FUNDS ARE DIRECTLY MADE PAYABLE TO THE EDUCATIONAL INSTITUTION ON BEHALF OF THE AWARDEE. IF NOT USED, THE FUNDS REVERT BACK TO THE CU. TWINSTAR SPONSORS COMMUNITY EVENTS THAT MEET THREE CATEGORIES (EDUCATION, ECONOMIC DEVELOPMENT AND SPONSORSHIP) IN ALL ITS MARKET AREAS. EMPLOYEES USUALLY ACTIVELY PARTICIPATE IN THESE EVENTS UPON REQUEST OF THE ORGANIZATION OR AS PART OF TWINSTAR'S CONTINUOUS SUPPORT TO THE COMMUNITIES IT SERVES. X X 1 1 X X X 0 1 0 JEFF KENNEDY CEO/PRESIDENT/TREASURER 508092 0 29863 0 7730 0 105009 0 11099 0 661793 0 0 0 KIMBERLY PETERSON CHIEF FINANCIAL OFFICER 154877 0 20992 0 832 0 8070 0 9844 0 194615 0 0 0 REBECCA BREEN CHIEF OPERATIONS OFFICER 191791 0 27317 0 2065 0 13511 0 14967 0 249651 0 0 0 SCOTT DAUKAS CHIEF RISK OFFICER 184348 0 25731 0 151390 0 101279 0 15636 0 478384 0 150000 0 ELKAN WOLLENBERG CHIEF TECHNOLOGY OFFICER 168109 0 22633 0 687 0 48030 0 8060 0 247519 0 0 0 MARY BETH SPUCK CHIEF ADMINISTRATIVE OFFICER 167250 0 22227 0 150971 0 101279 0 15210 0 456937 0 150000 0 MATTHEW DEVLIN CHIEF MARKETING OFFICER 162802 0 21603 0 777 0 47649 0 8055 0 240886 0 0 0 AARON PALMER CHIEF LENDING OFFICER 158566 0 21809 0 651 0 11122 0 13057 0 205205 0 0 0 SHARON WEINBERG CHIEF CREDIT OFFICER 161839 0 22887 0 1994 0 11520 0 16053 0 214293 0 0 0 JERROD KELLER CHIEF SALES OFFICER 151478 0 20575 0 669 0 7811 0 9389 0 189922 0 0 0 MEGGAN ANDERSON BRANCH MORTGAGE LOAN OFFICER 40140 0 0 0 110670 0 4653 0 7597 0 163060 0 0 0 PATRICE KRUGER AVP/BRANCH DELIVERY 111043 0 0 0 33913 0 8713 0 9887 0 163556 0 0 0 CHRISTOPHER HECK DIRECTOR/BUSINESS LENDING 106056 0 0 0 38324 0 6515 0 10062 0 160957 0 0 0 RACARDO MCLAUGHLIN AVP/MORTGAGE ORIGINATION 133627 0 0 0 7621 0 7820 0 11540 0 160608 0 0 0 CANDICE MILLS SENIOR FINANCIAL ADVISOR 68623 0 0 0 70856 0 8399 0 9941 0 157819 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - SPOUSE/DOMESTIC PARTNER EXPENSES WILL BE PAID BY THE CREDIT UNION AND ARE INCLUDED IN THE BUDGET. A 1099-MISC IS ISSUED TO THE BOARD MEMBER PROVIDED THE $600 REPORTING THRESHOLD IS MET. PART I, LINE 4B THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF MANAGEMENT. THE CREDIT UNION CONTRIBUTES 100% OF THE FUNDS TO THIS PLAN INTO VARIOUS LIFE INSURANCE POLICIES WHICH ARE REPORTED AT THEIR CASH SURRENDER VALUES. UNDER THE TERMS OF THIS PLAN, THE PARTICIPANTS ARE ENTITLED TO A SPECIFIED AMOUNT IF THEY REMAIN EMPLOYED BY THE CREDIT UNION UNTIL A PREDETERMINED TIME. IF THESE EMPLOYEES BECOME FULLY DISABLED OR UPON DEATH, AS DEFINED IN THE AGREEMENT, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE. THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE AS DEFINED IN THE AGREEMENTS. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE FOLLOWING PARTICIPATED IN THE 457(F), NON-QUALIFIED RETIREMENT PLAN: THERE WERE DISTRIBUTIONS DURING 2016 IN THE AMOUNTS LISTED BELOW. JEFF KENNEDY, PRESIDENT/CEO - $0 SCOTT DAUKAS, VP CHIEF RISK OFFICER - $150,000 MARY BETH SPUCK, VP CHIEF ADMINISTRATIVE OFFICER - $150,000 MATTHEW DEVLIN, VP CHIEF MARKETING OFFICER - $0 ELKAN WOLLENBERG, CHIEF TECHNOLOGY OFFICER - $0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL 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 FORM 990 IS REVIEWED BY THE CONTROLLER AND THE CFO. A COPY WILL BE PRESENTED TO THE BOARD OF DIRECTORS PRIOR TO ELECTRONICALLY FILING FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, AT THE ORGANIZATIONAL MEETING, THE DIRECTORS, SUPERVISORY COMMITTEE AND BOARD COMMITTEE MEMBERS REVIEW AND SIGN THE VOLUNTEER CODE OF ETHICS POLICY NO. 116 AND PROCEDURE NO. 1091. EACH SIGNS AN ACKNOWLEDGMENT AND AGREEMENT, A STATEMENT OF DISCLOSURE, AND A PERSONAL BACKGROUND AND RELATIONSHIPS FORM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD MEETS IN EXECUTIVE SESSION AND DETERMINES COMPENSATION FOR THE CEO BY REVIEWING 1) COMPARABILITY DATA 2) THE RESULTS OF MANAGEMENT'S GOALS FOR THE YEAR, AND 3) THE RESULTS OF THE CEO EVALUATION AND SCORING SHEET COMPLETED BY EACH BOARD DIRECTOR. COMPENSATION FOR THE VICE PRESIDENTS/OFFICERS IS DETERMINED BY THE CEO AFTER REVIEWING COMPARABILITY DATA PROVIDED BY HUMAN RESOURCES VENDOR AND REVIEW OF THE PROGRESS AND RESULTS OF MANAGEMENTS' GOALS. FORM 990, PART VI, SECTION C, LINE 19 A. AVAILABILITY AND DISCLOSURE OF CORPORATE RECORDS TO MEMBERS. CREDIT UNION MEMBERS HAVE THE RIGHT TO BE PROPERLY INFORMED OF THE CREDIT UNION OPERATIONS. IN ORDER TO BE PROPERLY INFORMED, THE CREDIT UNION RECOGNIZES THE NEED TO MAKE AVAILABLE TO AND DISCLOSE CERTAIN CREDIT UNION CORPORATE RECORDS UPON REQUEST. CONSISTENT WITH THE ACT AND THEIR FIDUCIARY RESPONSIBILITIES, THE BOARD HAS DEVELOPED THE FOLLOWING GUIDELINES FOR DISCLOSURE OF CREDIT UNION CORPORATE RECORDS THAT FAIRLY BALANCE THE CREDIT UNION MEMBERS' RIGHT TO BE INFORMED AND THE NEED FOR THE CREDIT UNION TO PROTECT CONFIDENTIAL AND PROPRIETARY DOCUMENTS OF THE CREDIT UNION AND PRIVACY INFORMATION OF EMPLOYEES. GUIDELINES FOR REQUESTING CREDIT UNION CORPORATE RECORDS- A MEMBER REQUESTING ANY CREDIT UNION CORPORATE RECORDS MUST SPECIFICALLY IDENTIFY THE DISCLOSABLE RECORDS REQUESTED. THE CREDIT UNION MAY REQUIRE THE MEMBER TO SIGN A CONFIDENTIALITY AGREEMENT TO PROTECT THE CREDIT UNION FROM UNAUTHORIZED DISCLOSURE OF CERTAIN PROPRIETARY INFORMATION (CREDIT UNION RECORDS II-VII LISTED BELOW). B. AVAILABILITY AND DISCLOSURE OF CREDIT UNION CORPORATE RECORDS. UPON A PROPER REQUEST, THE CREDIT UNION WILL MAKE THE FOLLOWING DOCUMENTS AVAILABLE TO MEMBERS: I. ARTICLES AND BYLAWS. (CONFIDENTIALITY AGREEMENT NOT REQUIRED) II. MINUTES OF MEMBERSHIP MEETINGS. III. ANNUAL FINANCIAL REPORT. IV. FINANCIAL REPORTS AND FORMS. 5300 CALL REPORTS. FORM 990 (SUBJECT TO THE CREDIT UNION'S DISCLOSURE GUIDELINES FOR FORM 990). V. CODE OF ETHICS. VI. CORPORATE GOVERNANCE POLICIES. CORPORATE GOVERNANCE GUIDELINES FOR MEMBERS MEETINGS AND ACTIONS. MEMBERS RIGHTS POLICY. VII. BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE. NAMES, BIOGRAPHICAL INFORMATION, AND COMMITTEE ASSIGNMENTS. C. LIMITED ACCESS TO CREDIT UNION RECORDS. THE CREDIT UNION DOES NOT MAKE ALL CREDIT UNION RECORDS AVAILABLE TO GENERAL MEMBER REQUESTS DUE TO THE CONFIDENTIAL AND PROPRIETARY NATURE OF THE INFORMATION CONTAINED IN THE RECORDS, THE DISCLOSURE OF WHICH WOULD CREATE A COMPETITIVE OR REPUTATION RISK TO THE CREDIT UNION AND AN INVASION OF PRIVACY OF MEMBERS AND EMPLOYEES' PERSONAL INFORMATION. THE CREDIT UNION CANNOT DISCLOSE MEMBER NAMES OR ACCOUNT INFORMATION OR MAKE AVAILABLE A MEMBERSHIP LIST UNLESS REQUIRED BY LAW. SIMILARLY, THE CREDIT UNION DOES NOT MAKE MINUTES OF BOARD OF DIRECTOR MEETINGS AVAILABLE DUE TO PROPRIETARY, STRATEGIC BUSINESS, AND PRIVATE EMPLOYMENT MATTERS ADDRESSED AT SUCH MEETINGS. MEETINGS OF THE BOARD AND BOARD COMMITTEES ARE OPEN TO THE BOARD MEMBERS, SUPERVISORY COMMITTEE MEMBERS, BOARD COMMITTEE MEMBERS, AND SUCH CREDIT UNION MANAGEMENT AS THE BOARD INVITES TO SUCH MEETINGS. IN ACCORDANCE WITH THE ACT, BOARD AND BOARD COMMITTEE MEETINGS ARE NOT OPEN TO THE GENERAL MEMBERSHIP DUE TO THE STRATEGIC BUSINESS, PRIVATE FINANCIAL AND EMPLOYMENT RELATED INFORMATION DISCUSSED AT SUCH MEETINGS. ALSO, THE CREDIT UNION, AS A MATTER OF LAW, CANNOT DISCLOSE THE CONTENTS OF ANY EMPLOYMENT OR BENEFITS AGREEMENT OF ANY EMPLOYEE INCLUDING THE CEO. THE CREDIT UNION, IN ITS SOLE DISCRETION AND ON A CASE-BY-CASE REQUEST AND DETERMINATION, MAY CONSIDER A SPECIFIC RECORD REQUEST WITH RESPECT TO THE OTHER TYPES OF CREDIT UNION RECORDS BALANCING THE MEMBER'S NEED FOR THE INFORMATION AND THE CREDIT UNION'S NEED TO PROTECT SUCH RECORDS OR INFORMATION FROM DISCLOSURE. THE CREDIT UNION MAY REQUIRE THE MEMBER TO SIGN A CONFIDENTIALITY AGREEMENT TO PROTECT THE CREDIT UNION FROM UNAUTHORIZED DISCLOSURE OF ANY PROPRIETARY INFORMATION. FORM 990, PART XI, LINE 9: DIFFERENCE IN K-1 VS. BOOK INCOME 198,431. THE PARAGON CONSULTING GROUP FKA FULCRUM CONSULTING LLC PO BOX 7518 OLYMPIA WA 985077518 260473592 CONSULTING WA -295063 2603804 TWINSTAR CREDIT UNION TWINSTAR COMMUNITY FOUNDATION 4525 INTELCO LOOP SE LACEY WA 98503 371768613 FOUNDATION WA 501(C)(3) LINE 7 TWINSTAR CU 1 CREDIT UNION SERVICES THROUGH OPERATIONS MANAGEMENT INC 6004 CAPITAL BLVD SOUTH TUMWATER WA 98501 911283584 COURIER SERVICES WA TWINSTAR CREDIT UNION C 12814 940906 1.00000 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TWINSTAR COMMUNITY FOUNDATION B 105900 ARMS LENGTH