2017-05-12T13:12:04-05:00 2016-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2016-01-01 910176216 CREDIT UNIONS IN THE STATE OF WASHINGTON TAPCO CREDIT UNION CRED 2536203241 6312 - 19TH STREET WEST TACOMA WA 98466 SCOTT DRABB VP 2536203241 2017-05-11 1 GERALD B KISSELL P00092658 6123324300 108.171.131.186 2017-05-11 14:08:11 CD P 85B6B56AE81AEFE38B3604F3527121AE06209A04 5AB5DFEC54AF030231DDAA57F2AFD57D98013E0B 2016 2021-01-29 14:40:06Z CARLYN ROY 6312 - 19TH STREET WEST TACOMA WA 98466 15763289 0 1269 X WWW.TAPCOCU.ORG X 1934 WA IMPROVING LIVES BY PARTNERING WITH FAMILIES TO REACH THEIR GOALS. 9 9 96 14 162351 -372821 0 0 12929140 14663280 1006982 953068 3900 140854 13940022 15757202 10000 10000 430805 411932 5642625 6273141 0 0 0 5730438 6807451 11813868 13502524 2126154 2254678 323203756 342453484 296340318 313321877 26863438 29131607 X WE ARE A FINANCIAL COOPERATIVE COMMITTED TO IMPROVING LIVES BY PARTNERING WITH FAMILIES TO REACH THEIR GOALS AND IMPACTING OUR COMMUNITY BY HELPING INDIVIDUALS REALIZE THEIR FULL POTENTIAL. WE VALUE TRUST AND UNDERSTANDING, RESPECT FOR OURSELVES AND OTHERS, INTEGRITY IN ALL THAT WE DO, HOLDING OURSELVES AND EACH OTHER ACCOUNTABLE AND COOPERATION. 0 0 TAPCO CREDIT UNION PROVIDES FINANCIAL PRODUCTS AND SERVICES TO OVER 28,000 MEMBERS, INCLUDING MORE THAN 17,000 CONSUMER, REAL ESTATE, AND BUSINESS LOANS. AT 12/31/2016 THERE WERE OVER 46,000 DEPOSIT ACCOUNTS. SERVICES OFFERED TO MEMBERS INCLUDE ONLINE BANKING AND BILL PAY, BRANCHES, ATMS, SAFE DEPOSIT BOXES, SHARED BRANCHING, ACH AND WIRE TRANSFERS. 2016 WAS ANOTHER EXCITING YEAR FOR TAPCO CU. TAPCO HAS BEEN A PART OF THE TACOMA-PIERCE COUNTY COMMUNITY FOR 83 YEARS. IN 2016 WE INTRODUCED A NEW LOOK AND A REFRESHED BRAND PROMISE. OUR NEW TAGLINE, "FOR THE LOVE OF PEOPLE" EMBODIES OUR MISSION STATEMENT, AND EMPHASIZES OUR COMMITMENT TO THE CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE". IN 2016, OUR STAFF, BOARD VOLUNTEERS, AND MEMBERSHIP DEDICATED THEIR TIME AND MONEY TO SUPPORT LOCAL COMMUNITY PROGRAMS AND EVENTS. OUR EMPLOYEES PROUDLY DONATED MORE THAN 3,000 HOURS OF THEIR PROFESSIONAL AND PERSONAL TIME TO LOCAL ORGANIZATIONS THROUGHOUT OUR COMMUNITY. THIS PAST OCTOBER, OUR EMPLOYEES HELPED BRING OUR TAGLINE TO LIFE. ON COLUMBUS DAY, INSTEAD OF CLOSING FOR THE HOLIDAY, WE WORKED. IN SMALL TEAMS WE HIT THE STREETS AND RANDOM ACTS OF KINDNESS HAPPENED THROUGHOUT THE COMMUNITY. IT CREATED EXCITEMENT AND JOY. MEMBERS AND NON-MEMBERS ALIKE SHARED THEIR APPRECIATION ON FACEBOOK, TWITTER, EMAIL AND A FEW HANDWRITTEN THANK YOU NOTES. WE CONTINUED TO INCREASE MEMBER LOANS SIGNIFICANTLY. TAPCO'S LOAN PORTFOLIO IS DISTRIBUTED ACROSS MANY LOAN TYPES, INCLUDING OVER $55 MILLION IN MORTGAGES AND EQUITY LOANS AND OVER $120 MILLION IN AUTO LOANS. TAPCO INTRODUCED A PEAK MEMBER REWARDS PROGRAM THAT RECOGNIZES YOUR FINANCIAL RELATIONSHIP WITH TAPCO AND OFFERS BETTER RATES AND FREE SERVICES. REWARDS BENEFITS MAY ALSO APPLY TO YOUR FAMILY IF YOU LIVE IN THE SAME HOUSEHOLD. BY LINKING YOUR FAMILY MEMBERSHIPS, YOUR HIGH SCHOOL, COLLEGE STUDENT, OR OTHER FAMILY. WE ALSO HIRED A NEW CFS REPRESENTATIVE WHO HAS BEEN MEETING WITH MEMBER GROUPS AND HOSTING FINANCIAL EDUCATION CLASSES. 0 0 0 0 0 0 0 0 0 1 0 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 1 1 0 0 1 3441 0 1 96 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X SCOTT DRABB 2535659895 6312 - 19TH STREET WEST TACOMA WA 98466 RICHARD WILLIAMS CHAIR 1.00 X X 0 0 0 ED TROYER VICE CHAIR 1.00 X X 0 0 0 CLARA NELSON SECRETARY/TREASURER 1.00 X X 0 0 0 ROB MASKO DIRECTOR 1.00 X 0 0 0 PAT MCELLIGOTT DIRECTOR 1.00 X 0 0 0 EILEEN LEWIS DIRECTOR 2.00 X 0 0 0 STEVE POYTHRESS DIRECTOR 1.00 X 0 0 0 JOHN COLE DIRECTOR 1.00 X 0 0 0 FRED WAGNER DIRECTOR 1.00 X 0 0 0 CARLYN ROY PRESIDENT 40.00 X 287880 0 148068 SCOTT DRABB CFO 40.00 X 449481 0 75268 DEAN VIGFUSSON COO 40.00 X 174921 0 30314 JOHN EYRE AVP OF IT 40.00 X 110329 0 17700 AMY TOLZMANN AVP OF CORPORATE DEVELOPMENT 40.00 X 106843 0 17461 1129454 0 288811 5 0 1 0 FISERV 75 REMITTANCE DR STE 6969 CHICAGO IL 60675 STATEMENT PROCESSING / MISC. 829062 CUNA MUTUAL GROUP 175 W JACKSON BLVD CHICAGO IL 60604 INSURANCE & BONDING 204778 NCUA 1775 DUKE STREET ALEXANDRIA VA 22314 INSURANCE & BONDING 123341 SWBC 9311 SAN PEDRO AVENUE STE 600 SAN ANTONIO TX 78216 WEB PAYMENT/PAY BY PHONE 111797 4 INTEREST ON LOANS TO MEMBERS 522100 10705737 10705737 FEE INCOME 522100 2634568 2631419 3149 OTHER NON-INTEREST INCOME 522100 1322975 1163773 159202 14663280 855632 855632 2400 0 2400 2400 2400 103523 4937 1150 98586 -1150 97436 97436 OTHER MISC INCOME 900099 138454 138454 138454 15757202 14639383 162351 955468 10000 411932 960698 3880448 81542 988275 362178 44242 115834 369493 2384470 312912 261071 84524 494599 PROVISION FOR LOAN LOSS 1458363 LOAN SERVICING EXPENSES 1189006 ASSOCIATION FEES 79729 ANNUAL MEETING 13208 13502524 5147229 4435956 24448404 38654549 215686620 238748859 2239268 2417326 9914998 5712380 4335130 4202618 60097125 42717747 7456789 7582115 3793191 3694314 323203756 342453484 2687331 3104896 293652987 310216981 296340318 313321877 X 0 0 0 0 26863438 29131607 26863438 29131607 323203756 342453484 2254678 13491 0 X 0 0 0 1203880 1203880 5159611 2890148 2269463 110874 110874 0 1565394 1368075 197319 1875239 1343283 531956 4202618 DEPOSITS 310216981 310216981 1 SCHOLARSHIPS 4 10000 PART I, LINE 2: SCHOLARSHIP FUNDS ARE AWARDED BY A COMMITTEE OF THE BOARD AND CHECKS ARE CUT DIRECTLY TO THE EDUCATIONAL INSTITUTIONS. X 1 1 X X 0 1 0 CARLYN ROY PRESIDENT 251562 0 36060 0 258 0 136282 0 11786 0 435948 0 0 0 SCOTT DRABB CFO 174240 0 13998 0 261243 0 53350 0 21918 0 524749 0 0 0 DEAN VIGFUSSON COO 158688 0 15975 0 258 0 8396 0 21918 0 205235 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - REIMBURSEMENT FOR COMPANION'S EXPENSES MUST RECEIVE ADVANCE AUTHORIZATION. AIRFARE AND REGISTRATION, WHERE APPLICABLE, FOR CONFERENCES, CONVENTIONS AND SEMINARS. RECEIPTS EVIDENCING ACTUAL EXPENSES MUST BE SUBMITTED. COMPANION MAY ACCOMPANY ONLY IF THEIR PRESENCE DOES NOT INTERFERE WITH THE BUSINESS OBJECTIVE OF THE TRIP. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN: CARLYN ROY - NO DISTRIBUTIONS IN 2016 SCOTT DRABB - DISTRIBUTION OF $260,985 IN 2016 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. 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, 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 THE CFO/VP OF ACCOUNTING REVIEWS FORM 990 BY COMPARING IT TO THE AUDITED FINANCIAL STATEMENTS AND ACCOUNTING DATA. A COPY OF FORM 990 WILL BE PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE EMPLOYEE HANDBOOK STATES AND THE EMPLOYEES ARE INFORMED WHEN HIRED THAT THE EMPLOYEE MUST INFORM THEIR SUPERVISOR IF THEY HAVE ANY OTHER EMPLOYMENT OUTSIDE OF TAPCO CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE ANNUAL PERCENTAGE INCREASE IS SET BY THE BOARD OF DIRECTORS. ANY ADDITIONAL CHANGES ARE DETERMINED BY USING COMPEASE, AN ONLINE PROGRAM FROM HRN, UPDATED ANNUALLY, WHICH TAKES INTO ACCOUNT OUR SIZE AND DEMOGRAPHICS. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE MADE PUBLIC THROUGH THE ANNUAL MEETING AND INTERNET, THE FORM 5300 IS AVAIABLE THROUGH THE INTERNET, AND THE CONFLICTS OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). TAPCO SERVICES INC 6312 19TH STREET WEST TACOMA WA 98466 911271799 INSURANCE BROKERAGE/AGENCY (INACTIVE) WA TAPCO CREDIT UNION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0