2014-11-10T16:23:30-06:00 2013-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2013-01-01 910176215 SEATTLE METROPOLITAN CREDIT UNION SEAT 2063985561 P O BOX 780 SEATTLE WA 981110780 RICHARD ROMERO CEO 2063985561 2014-11-03 1 VALENTINO CREUS CPA P01054153 8189549700 2013 2015-11-30 17:44:51Z RICHARD ROMERO P O BOX 780 SEATTLE WA 981110780 30081739 0 X WWW.SMCU.COM X CREDIT UNION 1933 WA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 9 171 12 266693 -587183 0 0 27607350 25540369 1017464 1737701 27836 549281 28652650 27827351 37468 42358 0 0 10351216 10555578 0 0 0 14601760 12208388 24990444 22806324 3662206 5021027 582453641 595299352 532950220 543433224 49503421 51866128 X NONE 0 0 SEATTLE METROPOLITAN CREDIT UNION (SMCU) HAS BEEN PROVIDING SERVICES TO ITS MEMBERS SINCE 1933. SINCE ITS INCEPTION, SMCU HAS CONSIDERED ITSELF AN ADVOCATE FOR ITS MEMBERS BY PROVIDING MEMBER-CENTRIC FINANCIAL SERVICES AND FINANCIAL LITERACY EDUCATION AT LOW OR NO COST. AS OF DECEMBER 31, 2013, SMCU HAD 41,585 MEMBERS. THESE MEMBERS PARTICIPATED IN 23,141 LOANS AND 84,888 DEPOSIT PRODUCTS. SMCU'SLOAN OFFERINGS INCLUDE A WIDE RANGE OF OPTIONS FROM STANDARD AUTOLOANS, MORTGAGES AND LINE OF CREDIT, TO MORE SEGMENTED PRODUCTS INCLUDING MOTORCYCLES, CLASSIC CARS, BOATS, RECREATIONAL VEHICLES, AND AIRCRAFT LOANS. SMCU HAS ALSO RECENTLY EXTENDED ITS LOAN PRODUCTS TO INCLUDE BUSINESS LOANS TO QUALIFIED MEMBERS. ALL LOAN PRODUCTS COME INA VARIETY OF TERMS TO PROVIDE PAYMENT OPTIONS THAT BEST SUIT THEMEMBERSHIP'S NEEDS. MEMBERS HAVE THE SAME VARIETY OF SELECTION ON THE DEPOSIT SIDE OF THE PRODUCT LINE WITH OFFERINGS RANGING FROM BASIC CHECKING AND SAVINGS ACCOUNTS TO IRAS, CERTIFICATES, MONEY MARKETS AND HIGH YIELD ACCOUNTS.SMCU ALSO OFFERS BUSINESS ACCOUNTS AND INVESTMENT SERVICES THAT AREDESIGNED TO MAINTAIN THE MEMBER'S BEST INTEREST. AS A ADVOCATE FOR ITSMEMBERSHIP, SMCU PLACES A HIGH PRIORITY ON EDUCATIONAL RESOURCES. AS A RESULT, SMCU HAS INVESTED IN ONLINE APPLICATIONS TO HELP MEMBERS MAKEDECISIONS RELATED TO PLANNING, BORROWING, BUDGETING AND PROTECTINGTHEIR CREDIT. LIFE VISION AND MORTGAGE ADVISOR ARE TWO TOOLS OFFERED ON PERSONAL FINANCES AND FINANCIAL GOALS INPUTTED BY THE MEMBER.ADDITIONALLY SMCU.COM AND SMCU BRANCHES OFFER BOTH ELECTRONIC AND PRINTED INFORMATION RESPECTIVES FROM HOME AND FAMILY FINANCE ON CAR BUYING, CREDIT PROTECTION AND BUDGETING. FOR THOSE MEMBERS WHO PREFER TO SPEAK TO SOMEONE IN PERSON, SMCU PROVIDES FREE CREDIT COUNSELING THROUGH "BALANCE," A FINANCIAL FITNESS PROGRAM THAT FOCUSES ON MONEY MANAGEMENT IN ADDITION TO IDENTITY THEFT PREVENTION AND ASSISTANCE. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 12157 0 1 171 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 0 1 1 0 X JASON ELLIOTT 2063985525 PO BOX 780 SEATTLE WA 981110780 JIM YEARBY CHAIRPERSON 1.00 X 0 0 0 JAMES FOSSOS VICE-CHAIRPERSON 1.00 X 0 0 0 RODNEY ENG BOARD MEMBER 1.00 X 0 0 0 CAMILLA BISHOP BOARD MEMBER 1.00 X 0 0 0 JACK MCGOLDRICK BOARD MEMBER 1.00 X 0 0 0 KEN HARER BOARD MEMBER 1.00 X 0 0 0 RAY HILL BOARD MEMBER 1.00 X 0 0 0 FRANK MATHEWS BOARD MEMBER 1.00 X 0 0 0 ROBERT LEIGHTON BOARD MEMBER/SUPV CMTE MEMBER 1.00 X 0 0 0 BEN WAKEFIELD SUPV CMTE CHAIRPERSON 1.00 X 0 0 0 GARY SKINNER SUPV CMTE SECRETARY 1.00 X 0 0 0 SANDRA PHILBROOK SUPV CMTE MEMBER 1.00 X 0 0 0 RICHARD ROMERO PRESIDENT / CEO 40.00 X 347551 0 35063 LARRY GRAGER SVP/CFO 40.00 X 174209 0 22743 JILL VICENTE SVP/CSO 40.00 X 177552 0 20741 TONITA WEBB SVP/CAO 40.00 X 175128 0 19180 BRENT RICHINS VP OF MEMBER SERVICES 40.00 X 125552 0 20892 CALEB COOK VP OF LENDING 40.00 X 122689 0 21180 LEE PIERCE AVP OF LENDING 40.00 X 105456 0 16405 JANE BRUNTON VP OF INTERNAL AUDIT 40.00 X 100796 0 17105 1328933 0 173309 8 0 1 0 HPM NETWORKS 3231 OSGOOD COMMON FREMONT CA 94539 IT SERVICES 907121 DIGITAL INSIGHT 1300 SEAPORT BLVD STE 300 REDWOOD CITY CA 94063 ONLINE BANKING SERVICES 593180 DIEBOLD GLOBAL FINANCE CORPORATION 5995 MAYFAIR ROAD NORTH CANTON OH 44720 ATM SERVICES 491110 DP INCORPORATED 19936 BALLINGER WAY NE SEATTLE WA 98155 CONSTRUCTION 452436 OPEN SOLUTIONS LLC PO BOX 416564 BOSTON MA 022416564 CORE SYSTEM 433600 12 INTEREST ON LOANS 522100 18300219 18300219 OTHER OPERATING INCOME 522100 5000976 4734283 266693 FEE INCOME 522100 2239174 2239174 25540369 1738130 1738130 2253959 2253551 837 408 -837 -429 -429 PROVISION FOR LOAN AND LEASE LOSS 522100 341033 341033 OTHER NON-OPERATING INCOME 522100 208248 208248 549281 27827351 27560658 266693 0 24358 18000 1328933 6418246 735204 1299030 774165 102381 160283 2093501 561860 1439713 980426 1171605 298235 1615788 1310876 398366 LOAN SERVICING EXPENSE 1329962 MISC OPERATING EXPENSE 429563 LOSS ON SALE OF REPOSSE 225441 OPERATING FEES 90388 22806324 4793516 4026775 75787247 27724205 306719 300546 437035 801974 22248516 10829655 10844836 11418861 77530867 149885569 407822229 396821824 4931192 4319598 582453641 595299352 6338625 5568339 526611595 537864885 532950220 543433224 X 0 0 0 0 49503421 51866128 49503421 51866128 582453641 595299352 5021027 -2658320 0 X X 0 1 X 1 0 5877 5877 5877 1 BOMA OF WASHINGTON PAC 1904 THIRD AVE STE 825 SEATTLE WA 98101 910158840 100 NWCUA - PAC 18000 INTERNATIONAL BLVD STE 350 SEATAC WA 98188 600250504 5777 3330000 3330000 4951350 2137096 2814254 5342782 3448992 1893790 8466193 5243567 3222626 158191 158191 11418861 ALL OTHER INVESTMENTS 1511100 F NET LOANS AND LEASES 359602147 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 4979577 C DEPOSITS IN COMMERCIAL BANKS 30481000 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CU 248000 C 396821824 TOTAL SHARE AND DEPOSITS 537864885 537864885 X 27260877 0 27260877 566474 566474 27827351 22239850 0 22239850 566474 566474 22806324 PART X, LINE 2: ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" TO BE SUSTAINED "WHEN CHALLENGED" OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. THE CREDIT UNION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY FEDERAL TAX AUTHORITIES FOR YEARS BEFORE 2009 AND BY STATE TAX AUTHORITIES FOR YEARS BEFORE 2008. FOR THE YEAR ENDED DECEMBER 31, 2013, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, THE CREDIT UNION HAS NOT RECORDED A LIABILITY FOR THE PAYMENT OF INTEREST OR PENALTIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN & LEASE LOSSES - RECLASS BETWEEN REVENUE AND EXPENSE SECT 341,033. LOSS ON SALE OF REPOSSESSED ASSETS - RECLASS BETWEEN REVENUE AND EXPENSE 225,441. PART XII, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN & LEASE LOSSES - RECLASS BETWEEN REVENUE AND EXPENSE SECT 341,033. LOSS ON SALE OF REPOSSESSED ASSETS - RECLASS BETWEEN REVENUE AND EXPENSE 225,441. 1 FOOD LIFELINE 1702 NE 150TH STREET SHORELINE WA 981557226 911090450 501 (C) (3) 5017 FMV PROVIDES FOOD FOR NEEDY FAMILIES 1 1 SCHOLARSHIPS 9 18000 FMV PART III, LINE 1: SEATTLE METROPOLITAN CREDIT UNION AWARDED SCHOLARSHIPS TO MEMBER-APPLICANTS SEEKING HIGHER EDUCATION. THE SCHOLARSHIP PROGRAM HONORS THE CREDIT UNION'S FOUNDER, TONY MARINO, AND HIS COMMITMENT TO THE CREDIT UNION AND COMMUNITY. X X 0 0 0 RICHARD ROMERO PRESIDENT / CEO 347551 0 0 0 0 0 22130 0 12933 0 382614 0 0 0 LARRY GRAGER SVP/CFO 174209 0 0 0 0 0 9810 0 12933 0 196952 0 0 0 JILL VICENTE SVP/CSO 177552 0 0 0 0 0 14722 0 6019 0 198293 0 0 0 TONITA WEBB SVP/CAO 175128 0 0 0 0 0 9801 0 9379 0 194308 0 0 0 JILL VICENTE HCE MORTGAGE X 318000 300546 0 1 1 300546 FORM 990, PART VI, SECTION A, LINE 6 SEATTLE METROPOLITAN CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. SEATTLE METROPOLITAN CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF SEATTLE METROPOLITAN CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11 MANAGEMENT WILL REVIEW THE 990 BASED ON THE INFORMATION PROVIDED TO OUR CPA. A COPY OF THE 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR FINAL APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C WE HAVE EMPLOYEES SIGN THAT THEY REVIEWED THE POLICY ANNUALLY, AND OUR INTERNAL AUDIT DEPARTMENT AND MANAGERS MONITOR TO ENSURE WE IDENTIFY ANY CONFLICTS OF INTERESTS. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCES DEPARTMENT PERFORMS AN ANNUAL SALARY MARKET ANALYSIS AND THE BOARD CONDUCTS A REVIEW OF THE CEO'S SALARY AND ADJUSTS THEIR SALARY BASED UPON PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 WE POST THE UNAUDITED INTERNAL FINANCIAL STATEMENTS AT EVERY BRANCH MONTHLY, AND WE PROVIDE THE AUDITED FINANCIAL STATEMENTS TO THE MEMBERS AT THE ANNUAL MEETING AND ARE POSTED ON OUR WEBSITE. THE GOVERNING DOCUMENTS AND THE CONFLICTS OF INTEREST POLICIES ARE NOT PROVIDED TO THE GENERAL PUBLIC. HOWEVER, IF SOMEONE FROM THE GENERAL PUBLIC INQUIRED ABOUT THIS WE WOULD PROVIDE THEM THE INFORMATION. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.