CREDIT UNIONS IN THE STATE OF WASHINGTON: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS IN THE STATE OF WASHINGTON (EIN 91-0557925)
- Tax period
- 2014-01-01 to 2014-12-31
- Filed
- 2015-11-12
- IRS object ID
- 201503169349302085
- Schema version
- 2014v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-11-12T12:12:42-06:00 | ReturnTs |
| Tax Period End | 2014-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 910189318 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MOSS ADAMS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2707 COLBY AVENUE SUITE 801 | AddressLine1Txt |
| City | EVERETT | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98201 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910557925 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUND CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUN | BusinessNameControlTxt |
| Phone | 2535977603 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1595 | AddressLine1Txt |
| City | TACOMA | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TROY GARRY | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 2535977603 | PhoneNum |
| Signature | 2015-11-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KRISTINE HOEFLIN | PreparerPersonNm |
| PTIN | P00786821 | PTIN |
| Phone | 4252597227 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RICHARD BRANDSMA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1595 | AddressLine1Txt |
| City | TACOMA | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $54,871,417 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SOUNDCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Activity Or Mission | COOPERATIVE PROVIDING FINANCIAL SERVICES, INCLUDING LOANS AND SHARE DEPOSITS TO ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 322 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $304,560 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$254,653 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $50,566,671 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $49,535,093 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,396,068 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,547,933 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,382,257 | PYOtherRevenueAmt |
| CY Other Revenue | $478,660 | CYOtherRevenueAmt |
| PY Total Revenue | $55,344,996 | PYTotalRevenueAmt |
| CY Total Revenue | $53,561,686 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $68,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $120,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $17,181,321 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $17,906,976 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $20,432,634 | PYOtherExpensesAmt |
| CY Other Expenses | $20,556,477 | CYOtherExpensesAmt |
| PY Total Expenses | $37,681,955 | PYTotalExpensesAmt |
| CY Total Expenses | $38,583,453 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $17,663,041 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $14,978,233 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,085,325,460 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,153,990,675 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $974,030,887 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,026,134,290 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $111,294,573 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $127,856,385 | NetAssetsOrFundBalancesEOYAmt |
| Mission | A MEMBER OWNED COOPERATIVE PROVIDING FINANCIAL SERVICES, INCLUDING LOANS AND SHARE DEPOSITS TO ITS MEMBERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ON THE LIABILITY/EQUITY SIDE OF THE BALANCE SHEET OUR MEMBERS HOLD 180,677 SAVINGS, CHECKING AND MONEY MARKET DEPOSIT ACCOUNTS WITH COMBINED BALANCES OF $791,598,385. MEMBERS HOLD 4,931 IRA SAVINGS ACCOUNTS WITH COMBINED BALANCES OF $79,443,208. THESE FUNDS ARE POOLED AND USED PRIMARILY TO FUND CONSUMER AND REAL ESTATE SECURED LOANS TO OUR MEMBERSHIP. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ALSO ON THE LIABILITY/EQUITY SIDE OF THE BALANCE SHEET, 5,606 OF OUR MEMBERS HOLD CERTIFICATE ACCOUNTS WITH TOTAL BALANCES OF $123,221,511. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ON THE ASSET SIDE, 54,992 OF OUR MEMBERS HOLD CONSUMER LOANS THAT INCLUDE VEHICLE, STUDENT, MORTGAGE AND VISA LOANS. CONSUMER LOANS THAT INCLUDE VEHICLE SECURED LOANS TOTAL $322,091,447. REAL ESTATE SECURED LOANS TOTAL $262,808,756. THE LOAN PORTFOLIO TOTALS $724,140,605. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 17414 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 322 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TROY GARRY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2535977603 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1331 BROADWAY PLAZA | AddressLine1Txt |
| City | TACOMA | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| GARY EMMONS | ||||||||
| CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $15,500 | $0 | $0 | ||
| KEITH MOCK | ||||||||
| VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $15,000 | $0 | $0 | ||
| BRENDA HEINEMAN | ||||||||
| SECRETARY/TREASURER | 1.00 | Yes (X) | Yes (X) | $15,000 | $0 | $0 | ||
| NORMAN PARSONS | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $15,000 | $0 | $0 | |||
| RICHARD BRENTIN | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $13,875 | $0 | $0 | |||
| DENNIS OKAMOTO | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $11,250 | $0 | $0 | |||
| DAVID WASSON | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $17,125 | $0 | $0 | |||
| SHELLEY COLEMAN | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $15,000 | $0 | $0 | |||
| RICHARD BRANDSMA | ||||||||
| PRESIDENT/CHIEF EXECUTIVE OFFICER | 40.00 | Yes (X) | Yes (X) | $1,615,634 | $0 | $67,647 | ||
| TROY GARRY | ||||||||
| VP/CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $179,688 | $0 | $31,670 | |||
| DENISE REAGAN | ||||||||
| EXECUTIVE VP | 40.00 | $807,668 | $0 | $39,064 | Yes (X) | |||
| CARL ROER | ||||||||
| VP/CHIEF LENDING OFFICER | 40.00 | $209,225 | $0 | $32,230 | Yes (X) | |||
| CHRIS SHENKEL | ||||||||
| VP/CHIEF BRANCH OFFICER | 40.00 | $191,885 | $0 | $39,761 | Yes (X) | |||
| DONALD CLARK JR | ||||||||
| EXECUTIVE VP | 40.00 | $344,581 | $0 | $46,990 | Yes (X) | |||
| LORRIE REMPHER | ||||||||
| VP/CHIEF INFORMATION OFFICER | 40.00 | $182,163 | $0 | $34,054 | Yes (X) | |||
| ROBYN LACHANCE | ||||||||
| VP/CHIEF MARKETING OFFICER | 40.00 | $145,146 | $0 | $26,789 | Yes (X) | |||
| KAY WILLIAMS-PRATER | ||||||||
| VP/BRANCHES | 40.00 | $113,698 | $0 | $24,886 | Yes (X) | |||
| JASON MCDOUGAL | ||||||||
| HOST SYSTEMS MANAGER | 40.00 | $116,375 | $0 | $20,010 | Yes (X) | |||
| KIMBERLY MAPES | ||||||||
| VP/HUMAN RESOURCES | 40.00 | $125,085 | $0 | $19,448 | Yes (X) | |||
| STEPHANIE MCCALLUM | ||||||||
| VP/BUSINESS SERVICES | 40.00 | $137,849 | $0 | $11,262 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,286,747 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $393,811 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 14 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| HHJ INC | |||||
| 601 ST HELENS AVE | TACOMA | WA | 98402 | REMODELING | $3,957,494 |
| FRANK UNLIMITED LLC | |||||
| 2819 ELLIOTT AVE SUITE 204 | SEATTLE | WA | 98121 | MARKETING SERVICES | $1,086,158 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | COMPUTER | $809,626 |
| KAYE-SMITH ENTERPRISES | |||||
| PO BOX 956 | RENTON | WA | 98057 | PRINTING/MAILING STATEMENTS | $410,276 |
| DIEBOLD GLOBAL FINANCE CORPORATION | |||||
| PO BOX 644399 | PITTSBURGH | PA | 15264 | ATM - MAINTENANCE | $195,558 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522291 | $32,382,556 | $32,382,556 | |
| FEES AND CHARGES | 522100 | $8,889,908 | $8,698,580 | $191,328 |
| INTERCHANGE | 522298 | $6,929,509 | $6,929,509 | |
| LOAN ORIGINATION INCOME | 518210 | $480,596 | $480,596 | |
| FINANCIAL SERVICES | 522100 | $121,951 | $8,719 | $113,232 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $730,573 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $730,573 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $49,535,093 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,100,390 | TotalRevenueColumnAmt |
| Exclusion | $3,100,390 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $18,952 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $261,956 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$243,004 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$243,004 | TotalRevenueColumnAmt |
| Exclusion | -$243,004 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $691,852 | SecuritiesAmt |
| Other | $803,466 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $659,151 | SecuritiesAmt |
| Other | $388,624 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $32,701 | SecuritiesAmt |
| Other | $414,842 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $447,543 | TotalRevenueColumnAmt |
| Exclusion | $447,543 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | NON-OPERATING INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $721,664 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $721,664 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $721,664 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $53,561,686 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $49,952,197 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $304,560 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,304,929 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $110,000 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,106,493 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,985,274 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,183,236 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,536,475 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,095,498 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,852 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,276 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $190,384 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $322,796 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,338,750 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,088,037 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $619,541 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,149,500 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $303,848 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $215,444 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,467,909 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,029,697 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| BANK FEES | $3,133,696 |
| LOAN SERVICING | $3,023,262 |
| PROVISION FOR LOAN LOSS | $804,114 |
| MP AMORTIZATION OF CDI | $789,963 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,408 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,583,453 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,361,653 | BOYAmt |
| EOY | $13,936,420 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,250,000 | BOYAmt |
| EOY | $88,246,066 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,491,278 | BOYAmt |
| EOY | $20,435,373 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $607,261,880 | BOYAmt |
| EOY | $716,933,463 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,960,996 | BOYAmt |
| EOY | $1,202,463 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $56,294,776 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $17,435,025 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,338,094 | BOYAmt |
| EOY | $38,859,751 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $304,968,611 | BOYAmt |
| EOY | $249,771,392 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,598,357 | BOYAmt |
| EOY | $3,616,561 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,226,431 | BOYAmt |
| EOY | $5,436,468 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,868,160 | BOYAmt |
| EOY | $15,552,718 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,085,325,460 | BOYAmt |
| EOY | $1,153,990,675 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,682,683 | BOYAmt |
| EOY | $7,896,569 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $554,924 | BOYAmt |
| EOY | $466,556 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,000,000 | BOYAmt |
| EOY | $13,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $954,793,280 | BOYAmt |
| EOY | $1,004,771,165 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $974,030,887 | BOYAmt |
| EOY | $1,026,134,290 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $111,294,573 | BOYAmt |
| EOY | $127,856,385 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $111,294,573 | BOYAmt |
| EOY | $127,856,385 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,085,325,460 | BOYAmt |
| EOY | $1,153,990,675 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $14,978,233 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,184,102 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $399,477 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,974,156 | OtherCostOrOtherBasisAmt |
| Book Value | $11,974,156 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $31,578,602 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,947,857 | DepreciationAmt |
| Book Value | $22,630,745 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,453,480 | OtherCostOrOtherBasisAmt |
| Depreciation | $395,585 | DepreciationAmt |
| Book Value | $1,057,895 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,288,538 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,091,583 | DepreciationAmt |
| Book Value | $3,196,955 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $38,859,751 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARE ACCOUNTS | $994,263,104 |
| CLEARING ACCOUNTS | $2,221,405 |
| CONTINGENT LIABILITIES | $323,170 |
| DEFERRED COMP PLAN | $2,404,139 |
| MONEY ORDER & CASHIER'S CHECKS | $5,559,347 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,004,771,165 | TotalLiabilityAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| MILGARD SCHOOL OF BUSINESS | |||||||
| 1900 COMMERCE STREET | TACOMA | WA | 984023100 | 916001537 | 115(1) | $40,000 | BENEFACTOR SPONSORSHIP FOR BUSINESS LEADERSHIP AWARDS 2014 & 2015 |
| UW FOUNDATION | |||||||
| 407 GERBERDING HALL BOX 351210 | SEATTLE | WA | 981951210 | 943079432 | 501(C)(3) | $7,500 | EXCELLENCE FUND |
| TACOMA-PIERCE COUNTY CHAMBER OF COMMERCE | |||||||
| PO BOX 1933 | TACOMA | WA | 98401 | 910434830 | 501(C)(6) | $5,000 | 2014 ANNUAL MEETING SPONSOR |
| FIRCREST GOLF CLUB | |||||||
| 1500 REGENTS BLVD | FIRCREST | WA | 98466 | 910221060 | 501(C)(7) | $20,000 | GOLF TOURNAMENT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 10 | RecipientCnt |
| Cash Grant | $10,000 | CashGrantAmt |
| Non Cash Assistance | EDUCATION ASSISTANCE | NonCashAssistanceDesc |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD BRANDSMA | ||||||||||||||
| PRESIDENT/CHIEF EXECUTIVE OFFICER | $526,300 | $0 | $278,939 | $0 | $810,395 | $0 | $52,000 | $0 | $15,647 | $0 | $1,683,281 | $0 | $0 | $0 |
| TROY GARRY | ||||||||||||||
| VP/CHIEF FINANCIAL OFFICER | $148,000 | $0 | $31,688 | $0 | $0 | $0 | $16,436 | $0 | $15,233 | $0 | $211,357 | $0 | $0 | $0 |
| DENISE REAGAN | ||||||||||||||
| EXECUTIVE VP | $303,709 | $0 | $166,855 | $0 | $337,104 | $0 | $23,400 | $0 | $15,664 | $0 | $846,732 | $0 | $0 | $0 |
| CARL ROER | ||||||||||||||
| VP/CHIEF LENDING OFFICER | $164,450 | $0 | $41,113 | $0 | $3,662 | $0 | $18,915 | $0 | $13,315 | $0 | $241,455 | $0 | $0 | $0 |
| CHRIS SHENKEL | ||||||||||||||
| VP/CHIEF BRANCH OFFICER | $144,565 | $0 | $37,435 | $0 | $9,885 | $0 | $17,854 | $0 | $21,907 | $0 | $231,646 | $0 | $0 | $0 |
| DONALD CLARK JR | ||||||||||||||
| EXECUTIVE VP | $245,192 | $0 | $74,670 | $0 | $24,719 | $0 | $23,400 | $0 | $23,590 | $0 | $391,571 | $0 | $0 | $0 |
| LORRIE REMPHER | ||||||||||||||
| VP/CHIEF INFORMATION OFFICER | $145,340 | $0 | $36,823 | $0 | $0 | $0 | $16,688 | $0 | $17,366 | $0 | $216,217 | $0 | $0 | $0 |
| ROBYN LACHANCE | ||||||||||||||
| VP/CHIEF MARKETING OFFICER | $101,370 | $0 | $42,016 | $0 | $1,760 | $0 | $13,665 | $0 | $13,124 | $0 | $171,935 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION ALSO HAS ENTERED INTO THREE 457(F) SUPPLEMENTAL RETIREMENT BENEFIT AGREEMENTS WITH MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM. THE AGREEMENTS PROVIDE BENEFITS PAYABLE TO THESE EMPLOYEES IF THEY REMAIN CONTINUOUSLY EMPLOYED FOR DESIGNATED PERIODS OF TIME AND/OR UPON DISABILITY, DEATH, OR TERMINATION OF EMPLOYMENT WILL RECEIVE PRORATED BENEFITS. THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE AS DEFINED IN THE AGREEMENTS. THE ESTIMATED LIABILITY UNDER THE AGREEMENTS IS BEING ACCRUED ON A STRAIGHT-LINE BASIS OVER THE SPECIFIED NUMBER OF YEARS OF SERVICE AS DEFINED IN THE AGREEMENTS. THE CREDIT UNION HAS ACCRUED APPROXIMATELY $1,007,000 AS OF MARCH 31, 2015. THIS AMOUNT IS INCLUDED IN ACCRUED EXPENSES AND OTHER LIABILITIES ON THE CONSOLIDATED BALANCE SHEET. THE CREDIT UNION ALSO SPONSORS AN UNFUNDED NONCONTRIBUTORY POST-RETIREMENT HEALTH BENEFIT PLAN FOR SPECIFIC MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM. THE BENEFIT OBLIGATION FOR THE YEAR ENDED MARCH 31, 2015, WAS DETERMINED USING A DISCOUNTED CASH FLOW MODEL AND ACTUARIAL ASSUMPTIONS FOR LIFE EXPECTANCY, ANNUAL BENEFIT COSTS, AND THE EXPECTED TERM OF EMPLOYMENT. BENEFITS ACCRUED UNDER THE PLAN AMOUNTED TO $523,000 AS OF MARCH 31, 2014, AND ARE INCLUDED IN ACCRUED EXPENSES AND OTHER LIABILITIES ON THE CONSOLIDATED BALANCE SHEET. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS 104,161 MEMBERS AS OF DECEMBER 31, 2014. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION'S MEMBERS HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE 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, 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 11 | THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS WHO REVIEW THE FORM PRIOR TO THE RETURN'S FILING. THE BOARD COMPARES THE RETURN TO THE PRIOR YEAR RETURN FOR MATERIAL DIFFERENCES AND SEEKS EXPLANATIONS FOR THOSE DIFFERENCES. TOTALS ARE COMPARED FOR REVENUE, EXPENSES, AND TOTAL ASSETS. EACH STATEMENT IS REVIEWED FOR ACCURACY INCLUDING A REVIEW OF THE EXPLANATIONS DOCUMENTED IN THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | EMPLOYEES SIGN A STATEMENT REQUIRING THAT THEY MUST DISCLOSE TO THE PRESIDENT & CEO ANY ACTUAL, POTENTIAL, OR PERCEIVED CONFLICTS OF INTEREST BEFORE BEING HIRED. DIRECTORS AND VOLUNTEERS SIGN A "CODE OF ETHICS ACKNOWLEDGEMENT" THAT STATES THEY WILL NOT BE INVOLVED IN SITUATIONS THAT RESULT IN OR COULD BE PERCEIVED TO BE A CONFLICT OF INTEREST. THEY MUST ALSO EXCUSE THEMSELVES FROM ANY DISCUSSIONS OR PARTICIPATION IN DECISIONS INVOLVING INSTANCES IN WHICH A CONFLICT OF INTEREST EXISTS OR MAY EXIST. THE POLICY MANUAL HAS THREE SECTIONS IN WHICH CONFLICTS OF INTEREST ARE STATED AND THE BOARD APPROVES THE POLICY MANUAL ON AN ANNUAL BASIS. BOTH THE CEO & EVP MONITOR ALL STAFF AND VOLUNTEER ACCOUNTS. IN ADDITION, DURING OUR CERTIFIED AUDIT, ALL STAFF AND VOLUNTEER ACCOUNTS, OR A SAMPLING, ARE REVIEWED FOR POTENTIAL CONFLICTS OF INTEREST. NO DIRECTOR, COMMITTEE MEMBER, OR EMPLOYEE OF THE CREDIT UNION MAY HAVE A PECUNIARY INTEREST IN ANY CONTRACT OR TRANSACTION WITH THE CREDIT UNION UNLESS THIS INTEREST IS DISCLOSED AND MADE KNOWN TO THE BOARD OF DIRECTORS. NO DIRECTOR OR COMMITTEE MEMBER OF THE CREDIT UNION WILL PARTICIPATE IN THE DELIBERATION OF ANY QUESTION AFFECTING THEIR OWN PECUNIARY INTEREST. SUCH DIRECTOR OR COMMITTEE MEMBER WILL WITHDRAW FROM THE DELIBERATION AND DECISION UPON SUCH INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | LINE 15A, COMPENSATION PROCESS FOR TOP OFFICIAL: THE EMPLOYEE BENEFITS COMMITTEE, WHICH IS COMPRISED OF 3 BOARD MEMBERS REVIEWS LOCAL SURVEYS, INCLUDING THE ANNUAL MILLIMAN NORTHWEST FINANCIAL INDUSTRY SALARY SURVEY TO DEVELOP A RECOMMENDATION FOR THE BOARD. THE BOARD REVIEWS THE COMMITTEE'S RECOMMENDATION AND APPROVES THE CEO'S COMPENSATION. LINE 15B, COMPENSATION PROCESS FOR OFFICERS: OTHER OFFICER AND KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE CEO AND BECOMES A PART OF THE COMPENSATION RECOMMENDATION DURING THE BUDGET PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION'S BYLAWS AND LEGAL DOCUMENTS, FINANCIAL STATEMENTS AND ANNUAL REPORT, THAT MEMBERS HAVE THE RIGHT TO VIEW, ARE AVAILABLE UPON REQUEST. THE REQUEST MUST BE IN WRITTEN FORM. |
| FORM 990, PART XI, LINE 9: | ADJUSTMENT DUE TO MERGER WITH DARIGOLD FEDERAL CREDIT UNION 399,477. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUND FINANCIAL GROUP INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1595 | AddressLine1Txt |
| City | TACOMA | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 911263213 | EIN |
| Primary Activities | INSURANCE | PrimaryActivitiesTxt |
| Legal Domicile State | WA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUND CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of EOY Assets | $87 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |