2016-10-25T17:31:32-05:00 2015-12-31 910189318 Moss Adams LLP 805 SW Broadway Ste 1200 Portland OR 97205 990 2015-01-01 930163693 SELCO Community Credit Union SELC 5416868000 PO Box 7487 Springfield OR 97475 Tiffany Washington Senior VP of Finance 5416868000 2016-10-18 1 Rebecca Griffith P01207510 5032421447 2016-10-12 2015 2017-02-10 21:41:12Z J Robert Newcomb PO Box 7487 Springfield OR 97475 64575276 0 X www.selco.org X 1936 OR SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 7 7 389 11 469826 0 0 0 46098409 48362697 2722325 2116383 6060942 6668375 54881676 57147455 57653 61965 0 0 19631730 21267474 0 0 0 21924290 21787258 41613673 43116697 13268003 14030758 1206692937 1317974899 1082069594 1180081489 124623343 137893410 SELCO strives to provide financial services that improve our members' social and economic condition. 0 0 The credit union paid over $3.9 million in dividends to members. Deposit accounts include savings, checking, money market accounts and certificates of deposit. As of December 31, 2015, deposits totaled $1.17 billion. The credit union disbursed over $413 million in new loans to members. Loans include auto, home mortgage, home equity, credit card, and business loans. At December 31, 2015, loans outstanding totaled $1.01 billion. During 2015, the credit union provided financial planning services to approximately 3,350 members with assets under management of $250 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 27355 0 1 389 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 1 0 X TIFFANY WASHINGTON 5416868000 1050 High Street Eugene OR 97401 Harold Welborn President/Chairperson 3.00 X X 1425 0 0 Jim Lindly Vice President 2.00 X X 0 0 0 Kaye LeFrancq Director 2.00 X 0 0 0 Dick Metzler Director 2.00 X 1003 0 0 Carol Beckley Director 2.00 X 0 0 0 Curt Heimuller Director 2.00 X 1279 0 0 Jeanne Staton Director 2.00 X 1032 0 0 J Robert Newcomb CEO/Secretary 60.00 5.00 X X 1091625 0 -100610 Tiffany Washington SVP Finance/Treasurer 50.00 X 236968 0 26703 Craig Carpenter SVP Lending/Business Solutions 50.00 X 229523 0 25912 Edward Rubin Investment Services Manager 50.00 X 269371 0 26773 Steven Buel-McIntire VP Admin/General Counsel 50.00 X 222262 0 24108 Kirk Latourneau VP Information Services 50.00 X 191736 0 21368 Maro Paz Senior Investment Advisor 45.00 X 186841 0 22503 Timothy Booher Mortgage Loan Officer 45.00 X 178075 0 21330 2611140 0 68087 20 0 1 0 Prevedello Hettick 701 High Street Suite 107 Eugene OR 97401 Web Marketing 1200075 McKenzie Commercial Contractors 865 W 2nd Avenue H Eugene OR 97402 Construction Contractor 983171 InfoImage 141 Jefferson Drive Menlo Park CA 94025 Statement Printing 413665 Diebold Inc PO Box 643543 Pittsburgh PA 15264 ATM Servicing and Maintenance 342322 Shelton-Turnbull Printers PO Box 6989 Portland OR 97228 Printing 280307 27 INTEREST ON LOANS 522100 37514126 37514126 SERVICE CHARGES AND FE 522100 10848571 10565861 282710 48362697 2420840 187116 2233724 121359 31302 90057 90057 90057 5130717 1961345 5226985 2169534 -96268 -208189 -304457 -97069 -207388 INTERCHANGE INCOME 900099 6548457 6548457 OTHER REVENUE 900099 29861 29861 6578318 57147455 54561236 469826 2116393 31965 30000 1514860 14521314 1094226 2491729 1645345 43951 109091 206280 2415225 3481833 1600563 2339623 233733 3872000 227522 LOAN SERVICING 2611445 PROVISION FOR LOAN LOSS 1646089 ASSOCIATION DUES 143552 TAXES ON UBI 28004 2828347 43116697 11802993 10652186 125761356 133076307 2967155 3825832 895620754 1003310909 43759312 20844773 22329335 22914539 124152984 122126375 4011898 3168475 1012393 759636 19034069 18140640 1206692937 1317974899 4742011 6816204 76050 102108 5290815 0 1071960718 1173163177 1082069594 1180081489 X 0 0 0 0 124623343 137893410 124623343 137893410 1206692937 1317974899 X 14030758 -826549 65858 X 0 1 X 1 0 0 1 X 5429172 5429172 22314672 8276720 14037952 1466370 1377114 89256 14549098 11190939 3358159 22914539 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1171263237 DEFERRED COMPENSATION LIABILITY 1899940 1173163177 X Part IV, Line 2b: At December 31, 2015, the credit union maintained mortgage escrow accounts totaling $102,108. Part X, Line 2: FIN 48 (ASC 740) FINANCIAL STATEMENT FOOTNOTE - THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2015 AND 2014. 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, 2015 AND 2014, IT RECOGNIZED NO MATERIAL INTEREST OR PENALTIES. 1 Eugene 4J School District 200 N Monroe Avenue Eugene OR 97402 936000566 Eugene School Dist 9045 Classroom support 1 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 709059 0 307471 0 75095 0 -121459 0 20849 0 991015 0 0 0 Tiffany Washington SVP Finance/Treasurer 207169 0 24336 0 5463 0 19805 0 6898 0 263671 0 0 0 Craig Carpenter SVP Lending/Business Solutions 203851 0 23889 0 1783 0 19014 0 6898 0 255435 0 0 0 Edward Rubin Investment Services Manager 262387 0 6584 0 400 0 19875 0 6898 0 296144 0 0 0 Steven Buel-McIntire VP Admin/General Counsel 199781 0 21845 0 636 0 17210 0 6898 0 246370 0 0 0 Kirk Latourneau VP Information Services 173535 0 17617 0 584 0 14470 0 6898 0 213104 0 0 0 Maro Paz Senior Investment Advisor 186299 0 0 0 542 0 15605 0 6898 0 209344 0 0 0 Timothy Booher Mortgage Loan Officer 176690 0 855 0 530 0 14432 0 6898 0 199405 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. THE PLAN BENEFITS WILL BE PAID ON SEPTEMBER 19, 2017, AND SEPTEMBER 19, 2018. THE PLAN EARNINGS IN 2015 WERE -$141,344. 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. THERE WERE NO PLAN EARNINGS IN 2015. J Robert Newcomb CEO Split-Dollar Life Insurance X 813420 3418019 0 1 1 J Robert Newcomb CEO Home Mortgage X 725000 407813 0 1 1 3825832 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 11 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 65,858. Whistler Property Group LLC 925 Harlow Road Springfield OR 97477 364687978 Real Estate Holding Co OR N/A Excluded -118471 1053 0 1 0.10730 INOVA LLC PO Box 7487 Eugene OR 97401 272430222 Consulting OR N/A Unrelated -8185 65853 0 -8185 1 0.50000 SELCO GROUP INCORPORATED 925 Harlow Road Springfield OR 97477 930829603 Insurance agency OR SELCO COMMUNITY CREDIT UNION C 73605 1124363 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 56658 FMV/CASH PAID SELCO GROUP INCORPORATED L 162814 FMV/CASH PAID SELCO GROUP INCORPORATED M 22400 FMV/CASH PAID SELCO GROUP INCORPORATED Q 30019 FMV/CASH PAID