2016-11-14T17:23:05-06:00 2015-12-31 910189318 Moss Adams LLP 805 SW Broadway Ste 1200 Portland OR 97205 990 2015-01-01 910576399 iQ Credit Union IQCR 3606953441 1313 Main Street Vancouver WA 98660 DeWayne Ledbetter CFO/SVP of Finance 3606953441 2016-11-14 1 Rebecca Griffith P01207510 5032421447 2016-11-14 2015 2017-02-10 21:41:12Z ROGER MICHAELIS 1313 Main Street Vancouver WA 98660 40558019 0 X www.iqcu.com X 1940 WA TO PROVIDE A FULL COMPLEMENT OF QUALITY FINANCIAL SERVICES IN A CONVENIENT, EFFICIENT, FRIENDLY, SECURE AND PROFITABLE MANNER WHICH MEETS THE NEED OF THE MEMBERSHIP. 13 13 347 39 1153242 269001 0 0 31399179 38513539 2254567 1685575 -1277476 -415537 32376270 39783577 135019 70750 0 0 13157214 15306601 0 0 0 13816896 17516462 27109129 32893813 5267141 6889764 746799732 821773803 684181848 752346691 62617884 69427112 To provide a full complement of quality financial services in a convenient, efficient, friendly, secure and profitable manner which meets the need of the membership. 0 0 Provide financial services to 66,900 members. These services include, but are not limited to, providing real estate and other secured/ unsecured consumer loans, checking and savings programs, and credit card services. 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 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 14129 0 1 347 1 1 1 0 0 0 0 0 X 13 13 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 0 1 0 0 X DeWayne Ledbetter 3607593018 1313 Main Street Vancouver WA 98660 Dr James Sork Board Chairman 5.00 X X 0 0 0 Jim Church board vice Chairman 4.00 X X 0 0 0 Sharon Eastman board secretary 4.00 X X 0 0 0 Ed Maxwell board treasurer 4.00 X X 0 0 0 Joan Durgan BOARD MEMBER 2.50 X 0 0 0 Jil Click BOARD MEMBER 2.50 X 0 0 0 Jim Askey BOARD MEMBER 2.50 X 0 0 0 JOSEPH NUTTING BOARD MEMBER 2.50 X 0 0 0 Evie Grendahl board member 2.50 X 0 0 0 Steve Porter BOARD MEMBER 2.50 X 0 0 0 Dave Marshall BOARD MEMBER 2.50 X 0 0 0 Don Kitterman BOARD MEMBER 2.50 X 0 0 0 Doug Lehrman BOARD MEMBER 2.50 X 0 0 0 Roger Michaelis CEO & PRESIDENT 40.00 X 607273 0 5322 DeWayne Ledbetter CFO/SVP OF Finance 40.00 X 197003 0 37766 CHRIS O'MALLEY CIO/SVP Branch & Support Operations 40.00 X 181297 0 26827 Denis Marsh VP of INSURANCE SERVICES 40.00 X 169089 0 6427 Martina Valentine CLO/SVP OF Lending 40.00 X 165585 0 3575 Jonathan Davis Wealth Management Manager 40.00 X 143152 0 6296 Danette LaChapelle SVP OF Communication 40.00 X 134912 0 24970 ANTHONY HUMPHREY VP OF MORTGAGE SERVICES 40.00 X 136197 0 4568 1734508 0 115751 12 0 1 0 JHA Powerlink 1100 Olive Way Suite 320 Seattle WA 98101 Debit/Credit Card Processing 595639 Official Payments Corporation PO Box 418410 Boston MA 02241 Online Banking Services 566104 Info Image 141 Jefferson Drive Menlo Park CA 94025 Member Statements 417767 Meridian Link Inc 1600 Sunflower Avenue Suite 200 Costa Mesa CA 92626 Loan Processing Services 345384 Jack Henry & Associates Inc 663 W Highway 60 Monett MO 65708 Core Software Maintenance Services 336757 13 Loan Interest 522100 24489631 24489631 Other Operating Income 522100 7720224 7102580 617644 Fees and Charges 522100 6303684 5768086 535598 38513539 1686917 1686917 736100 37000 732870 41572 3230 -4572 -1342 -1342 Other Income/LOSS 522100 -415537 -415537 -415537 39783577 36944760 1153242 1685575 64250 6500 1055488 11673175 452288 1129198 996452 83309 160343 1754760 752914 1943101 1434049 113599 11228 1112446 2051758 136850 Loan Servicing 2724136 LOAN LOSS PROVISION 2324687 atm expenses 2150378 TAXES ON UBIT 50000 712904 32893813 5652262 7886357 42921251 66638846 516402114 592752666 801336 18343060 43332898 18328329 25620305 25004569 112453335 91182503 5826133 3491120 2153956 1426996 34969040 15047686 746799732 821773803 6794683 8584716 677387165 743761975 684181848 752346691 X 0 0 0 0 62617884 69427112 62617884 69427112 746799732 821773803 X 6889764 -33114 -47422 X 0 0 0 0 0 2877944 2877944 20697795 4054563 16643232 8609244 5824819 2784425 9952407 7416306 2536101 1195508 1032641 162867 25004569 Shares/Deposits 743761975 743761975 1 OREGON FOOD BANK PO BOX 55730 PORTLAND OR 97238 930785786 501(C)(3) 20000 Sponsorship of Waterfront Blues Festival First TechnoloGy Federal Credit Union PO BOX 2100 BEAVERTON OR 97075 237062675 501(c)(1) 15000 Sponsorship of Dave & Dan Celebrity Golf Tournament Bravo Vancouver Concert Series PO Box 118 Vancouver WA 98666 911944790 501(C)(3) 15000 Sponsorship of Wine & Jazz Festival Vancouver School District Foundation PO Box 6039 Vancouver WA 98668 910971800 501(C)(3) 8000 Meals for New Teacher Orientation Week Washington State University Foundation PO Box 641925 Pullman WA 99164 911075542 501(C)(3) 6250 Contribution to Liberal Arts Development Fund 4 1 SCHOLARSHIPS 10 6500 Part I, Line 2: SCHOLARSHIP APPLICANTS SUBMIT AN APPLICATION, AND RECIPIENTS ARE DETERMINED BY A NUMBER OF FACTORS INCLUDING ESSAYS, GRADES AND LETTERS OF RECOMMENDATION, WHICH ARE ALL SCORED. THE HIGHEST-RATED INDIVIDUALS ARE AWARDED SCHOLARSHIPS. X X 1 1 X X X 0 1 0 Roger Michaelis CEO & PRESIDENT 358950 0 247346 0 977 0 5322 0 0 0 612595 0 0 0 DeWayne Ledbetter CFO/SVP OF Finance 184155 0 21654 0 -8806 0 28544 0 9222 0 234769 0 0 0 CHRIS O'MALLEY CIO/SVP Branch & Support Operations 164666 0 18407 0 -1776 0 25366 0 1461 0 208124 0 0 0 Denis Marsh VP of INSURANCE SERVICES 126013 0 42967 0 109 0 5624 0 803 0 175516 0 0 0 Martina Valentine CLO/SVP OF Lending 124950 0 10125 0 30510 0 3320 0 255 0 169160 0 0 0 Danette LaChapelle SVP OF Communication 127812 0 12959 0 -5859 0 18698 0 6272 0 159882 0 0 0 Part I, Line 1a These benefits are provided to the CEO as part of his employment agreement. The discretionary spending account is included in the CEO's taxable compensation. Part I, Line 4b Some members of executive management (DeWayne Ledbetter and Danette LaChapelle) participated in a 457(f) deferred compensation plan. No contributions or distributions were made during 2015. Some members of executive management (Chris O'Malley, DeWayne Ledbetter and Danette LaChapelle) participated in a 457(f) long-term incentive plan. Contributions of $56,085 were made during 2015. No distributions were made during 2015. Form 990, Part VI, Section A, line 4 The Credit Union's bylaws were amended. Changes were made to allow for the compensation of directors and audit committee members. Form 990, Part VI, Section A, line 6 The Credit Union has members and each member can vote. Form 990, Part VI, Section A, line 7a The Credit Union members elect members of the governing body. Form 990, Part VI, Section A, line 7b Decisions of the governing body are subject to approval by members and regulators. Form 990, Part VI, Section B, line 11 Form 990 is reviewed by the CFO prior to filing. Form 990, Part VI, Section B, line 12c THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY, AND EMPLOYEES AND BOARD MEMBERS ANNUALLLY ACKNOWLEDGE THEY COMPLY WITH ALL CREDIT UNION POLICIES. THE CONFLICT OF INTEREST POLICY OUTLINES STEPS TAKEN BY OFFICIALS WHEN A CONFLICT ARISES, WHICH INCLUDE THE CONFLICTED PARTY ABSTAINING FROM A RELATED VOTING ITEM. EMPLOYEES ARE NOT ALLOWED TO RECEIVE A PERSONAL BENEFIT FROM ANY TRANSACTION WITH A VENDOR, CUSTOMER OR SUPPLIER DOING BUSINESS WITH THE CREDIT UNION. Form 990, Part VI, Section B, line 15a CEO salary is determined after review and approval by the Executive Committee, which is independent of the CEO. The committee's review includes salary data from at least two salary surveys. Minutes are kept to document the discussion and final decision. This process was last undertaken January 2015. Form 990, Part VI, Section C, line 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, line 9: OTHER COMPREHENSIVE INCOME/EQUIY TRUE-UP 8,027. PARTNERSHIP PASSTHROUGH BOOK/TAX -55,449. iQ for Kids PO Box 1739 Vancouver WA 98668 203988310 Fundraising to support children's charities WA 501(c)(3) 509(a)(1) IQ CREDIT UNION 1 Clark Financial Services Inc PO Box 1846 Vancouver WA 98668 911253818 Service org providing insurance products to credit union members WA IQ CREDIT UNION C 256671 938062 1.00000 1 1 0 0 1 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 CLARK financial services inc A 21180 fair market value CLARK financial services inc D 500000 loan guarantee/no balance CLARK financial services inc Q 641944 fair market value