WHATCOM EDUCATIONAL CREDIT UNION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- WHATCOM EDUCATIONAL CREDIT UNION (EIN 91-0712539)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-11-05
- IRS object ID
- 201213109349301416
- Schema version
- 2011v1.2
- 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) |
|---|---|---|
| Timestamp | 2012-11-05T16:41:43-06:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410746749 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 E THOMAS RD STE 2300 | AddressLine1 |
| City | PHOENIX | City |
| State | AZ | State |
| ZIP Code | 85012 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910712539 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WHATCOM EDUCATIONAL CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | WHAT | NameControl |
| Phone | 3606761168 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 EAST HOLLY STREET | AddressLine1 |
| City | BELLINGHAM | City |
| State | WA | State |
| ZIP Code | 98227 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WAYNE LANGEI | Name |
| Title | PRESIDENT/CEO | Title |
| Phone | 3606761168 | Phone |
| Date Signed | 2012-10-31 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | PHIL MCCOLLUM CPA | Name |
| PTIN | P00129716 | PTIN |
| Phone | 6022662248 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | WAYNE LANGEI | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 EAST HOLLY STREET | AddressLine1 |
| City | BELLINGHAM | City |
| State | WA | State |
| ZIP Code | 98227 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 50110804 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.WECU.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1936 | YearFormation |
| State Legal Domicile | WA | StateLegalDomicile |
| Activity Or Mission Description | IT IS THE MISSION OF WHATCOM EDUCATIONAL CREDIT UNION TO PROVIDE THE MEANS FOR MEMBERS TO ACHIEVE THEIR DREAMS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 295 | TotalNbrEmployees |
| Total Nbr Volunteers | 4 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 47851535 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 49625036 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1104396 | InvestmentIncomePriorYear |
| Investment Income Current Year | 375246 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 48955931 | TotalRevenuePriorYear |
| Total Revenue Current Year | 50000282 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 15201361 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 16339468 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 24062927 | OtherExpensePriorYear |
| Other Expenses Current Year | 20398770 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 39264288 | TotalExpensesPriorYear |
| Total Expenses Current Year | 36738238 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 9691643 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 13262044 | RevenuesLessExpensesCY |
| Total Assets BOY | 706976500 | TotalAssetsBOY |
| Total Assets EOY | 776647224 | TotalAssetsEOY |
| Total Liabilities BOY | 580879054 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 637304152 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 126097446 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 139343072 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | WHATCOM EDUCATIONAL CREDIT UNION (WECU) IS A MEMBER-OWNED FINANCIAL COOPERATIVE WHERE MEMBERS ARE ENCOURAGED TO SAVE AND BORROW RESPONSIBLY AT FAIR AND COMPETITIVE RATES, IMPROVING THEIR FINANCIAL WELL-BEING AND STANDARD OF LIVING. THIS STATE-CHARTERED CREDIT UNION IS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION SHARE INSURANCE FUND, AND IS REGULATED BY THE NATIONAL CREDIT UNION ASSOCIATION, AND THE STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS - DIVISION OF CREDIT UNIONS. WECU'S MAIN PRODUCTS ARE CONSUMER LOANS, REAL ESTATE LOANS AND COMMERCIAL LOANS TO MEMBERS, WHICH ARE PRIMARILY FUNDED BY DEPOSITS FROM MEMBERS. FINANCIAL EDUCATION AND COMMUNITY SERVICE ARE ALSO AN INTEGRAL PART OF WECU'S OPERATIONS AND SPIRIT OF SERVICE. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | CREDIT CARD LOANS: WECU OFFERS THREE TYPES OF CREDIT CARDS - CLASSIC, PLATINUM, AND BUSINESS. EACH CARD INCLUDES THE FOLLOWING: 1% CASH BACK ON PURCHASES, NO ANNUAL FEE, LOW FIXED ANNUAL PERCENTAGE RATE (APR), 25 DAY GRACE PERIOD, LOW MONTHLY PAYMENTS, TRAVEL ACCIDENT INSURANCE WHEN YOU PURCHASE TRAVEL TICKETS WITH YOUR WECU VISA, SECURE ONLINE SHOPPING WITH VERIFIED BY VISA, OPTIONAL PAYMENT PROTECTION, 24 HOUR ACCESS WITH E-MAX ONLINE BANKING AND TELE-MAX AUDIO RESPONSE, AND LOCAL SERVICE YOU CAN TRUST. WECU STRIVES TO EDUCATE YOUTH TO BE FINANCIALLY RESPONSIBLE. IN 2001, WECU LAUNCHED A STUDENT VISA PROGRAM WITH OUR CLASSIC VISA CARD. THE GOAL OF OUR STUDENT VISA PROGRAM IS NOT TO PROMOTE SPENDING, BUT RATHER TO PROVIDE KNOWLEDGE AND AN OPPORTUNITY FOR OUR YOUNG MEMBERS TO LEARN ABOUT MONEY MANAGEMENT AND MAINTAINING GOOD CREDIT. OUR PROGRAM IS DESIGNED FOR MEMBERS 16 AND 17 YEARS OF AGE, AND BEGINS WITH AN EDUCATIONAL SEMINAR. STUDENTS ARE REQUIRED TO ATTEND THE SEMINAR, AND WE STRONGLY ENCOURAGE LEGAL GUARDIANS OR PARENT(S) TO ATTEND. THE STUDENT VISA SEMINAR COVERS MANY TOPICS, FROM THE DEFINITION OF CREDIT, TO CREDIT SCORES, HOW LOANS WORK, MONEY MANAGEMENT SKILLS, THE BENEFIT OF A VISA CARD, AND WHAT TO DO IF YOUR CARD IS LOST OR STOLEN. UPON SUCCESSFUL COMPLETION OF THE STUDENT VISA SEMINAR, AND EITHER A COMPLETED APPLICATION WITH PROOF OF INCOME OR PARENT/LEGAL GUARDIAN AS CO-BORROWER, STUDENT MEMBERS WILL BE ISSUED A $250 STUDENT VISA. THE CARD IS GOOD UNTIL AGE 21. HOWEVER, IF THE LOAN IS IN GOOD STANDING AT THE AGE OF 18, STUDENTS CAN APPLY FOR A $500 CLASSIC VISA BY FILLING OUT A NEW APPLICATION WITH PROOF OF INCOME OR PARENT/LEGAL GUARDIAN AS CO-BORROWER. THIS PROGRAM HAS BEEN VERY SUCCESSFUL, AND AS OF THE END OF 2011, WE HAVE 107 STUDENT VISA ACCOUNTS.WECU HAS APPROXIMATELY A 27% MEMBER PENETRATION IN OUR CREDIT CARD PROGRAM. AT YEAR-END, WE HAD OVER 1,818 NEW VISA ACCOUNTS FOR OUR MEMBERS, WITH NEW CREDIT LIMITS TOTALING OVER $5.8 MILLION. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OTHER CONSUMER LOANS: ALONG WITH CREDIT CARD LOANS, WECU OFFERS AUTO, BOAT, RV, PERSONAL, SECURED, TIMELINE, AND OTHER CONSUMER LOANS. WE HAVE VERY COMPETITIVE RATES, AND OFTEN FUND VERY SMALL LOANS THAT OTHER FINANCIAL INSTITUTIONS WOULD NOT. IN THIS CAPACITY, WECU FILLS A CRITICAL ROLE IN THE MICRO-LENDING ECONOMY. IN 2011, WE ISSUED 3,359 CONSUMER LOANS (NOT INCLUDING CREDIT CARDS) TO OUR MEMBERS, TOTALING AROUND $33 MILLION. WECU ALSO PROVIDES ACCESS TO THE BALANCE FINANCIAL FITNESS PROGRAM FREE OF CHARGE TO MEMBERS. PROFESSIONAL FINANCIAL COUNSELORS AT BALANCE PROVIDE DIRECTION AND SUPPORT TO ANY OF OUR MEMBERS WHO NEED HELP MANAGING THEIR DEBT AND GETTING THEIR PERSONAL FINANCES BACK ON TRACK. IN 2011, OVER 850 OF OUR MEMBERS USED THIS SERVICE. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | REAL ESTATE LOANS: WECU OFFERS RESIDENTIAL REAL ESTATE LOANS WITH VERY COMPETITIVE RATES AND LOW FEES, MEMBER EDUCATION SEMINARS RELATED TO BUYING A HOME, AND HOME $TART PROGRAM LOANS THROUGH THE FEDERAL HOME LOAN BANK OF SEATTLE. DURING 2011, WE FUNDED APPROXIMATELY 740 RESIDENTIAL FIRST MORTGAGES TO OUR MEMBERS. AT THE END OF 2011, WECU HAD OVER 2,129 RESIDENTIAL FIRST MORTGAGE LOANS OUTSTANDING WHICH EQUATES TO A HOUSEHOLD PENETRATION OF ABOUT 4.3% IN OUR MEMBERSHIP PORTFOLIO. HOWEVER, AS OF THE END OF 2011, WE WERE ALSO SERVICING AN ADDITIONAL 1,472 IN SOLD RESIDENTIAL FIRST MORTGAGES TO OUR MEMBERS, INCREASING OUR OVERALL REAL ESTATE PENETRATION TO ABOUT 7.4%. THE AVERAGE BALANCE OF RESIDENTIAL FIRST MORTGAGE LOANS BEING SERVICED BY WECU IS APPROXIMATELY $156,242. IN ADDITION, WECU PARTICIPATES IN HOME $TART. OFTEN REFERRED TO AS THE "AMERICAN DREAM" PROGRAM, HOME $TART IS A JOINT PROGRAM THROUGH THE FEDERAL HOME LOAN BANK OF SEATTLE, AND IT PROMOTES HOME OWNERSHIP BY HELPING FIRST-TIME HOME BUYERS EARNING UP TO 80% OF THE AREA'S MEDIAN INCOME TO PURCHASE A HOME. THE HOME $TART PROGRAM PROVIDES $3.00 FOR EVERY $1.00 A FAMILY CONTRIBUTES, UP TO $5,000. HOME $TART GRANTS MAY BE USED FOR DOWN PAYMENTS, CLOSING COSTS, OR REHABILITATION OF AN OWNER OCCUPIED HOUSING UNIT, TO BE USED AS THE HOUSEHOLD'S PRIMARY RESIDENCE. GRANTS MAY BE USED IN COMBINATION WITH FUNDS FROM OTHER SOURCES. OUR NEXT YEAR'S GOAL IS TO SURPASS THE NUMBER OF FIRST-TIME HOME BUYERS BY PROVIDING EDUCATIONAL SEMINARS, INDIVIDUAL COUNSELING AS WELL AS CLOSING COST ASSISTANCE - THUS ENABLING OUR NEIGHBORHOOD FAMILIES TO REALIZE THEIR AMERICAN DREAM. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 1 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 1 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 23319 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 295 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEFF DYKSTRA VPCFO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3607567649 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 E HOLLY STREET | AddressLine1 |
| City | BELLINGHAM | City |
| State | WA | State |
| ZIP Code | 982279750 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (17 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| KRISTI LEWIS TYRAN | ||||||||
| DIRECTOR | 4.00 | X | 0 | 0 | 0 | |||
| CATHIE OBERG | ||||||||
| CHAIR | 4.00 | X | 0 | 0 | 0 | X | ||
| JAMES WALSH | ||||||||
| VICE-CHAIR | 4.00 | X | 700 | 0 | 0 | X | ||
| DAVID WASCHKE | ||||||||
| DIRECTOR | 4.00 | X | 997 | 0 | 0 | |||
| BRUCE BURPEE | ||||||||
| DIRECTOR | 4.00 | X | 0 | 0 | 0 | |||
| ASHOK KHANNA | ||||||||
| DIRECTOR | 4.00 | X | 1212 | 0 | 0 | |||
| PHILIP ISLE | ||||||||
| SECRETARY | 4.00 | X | 3404 | 0 | 0 | X | ||
| DALE ZENDER | ||||||||
| DIRECTOR | 4.00 | X | 1165 | 0 | 0 | |||
| HARTWELL BRESSLER | ||||||||
| DIRECTOR | 4.00 | X | 0 | 0 | 0 | |||
| WAYNE LANGEI | ||||||||
| PRESIDENT/CEO/TREASURER | 59.00 | 1292480 | 0 | 37208 | X | |||
| JEFF DYKSTRA | ||||||||
| VP/CFO | 62.00 | 138708 | 0 | 27727 | X | |||
| KATHLEEN GAVIN | ||||||||
| EXECUTIVE VP | 46.00 | 289838 | 0 | 30640 | X | |||
| JENNIFER KUTCHER | ||||||||
| VP/COO | 64.00 | 144108 | 0 | 22327 | X | |||
| ROBERT LANGEI | ||||||||
| VP/CLO | 59.00 | 144119 | 0 | 22327 | X | |||
| LISA LANGEI | ||||||||
| VP/MARKETING MANAGER | 50.00 | 133710 | 0 | 24095 | X | |||
| COLIN NAYLOR | ||||||||
| VP/CIO | 60.00 | 133109 | 0 | 27095 | X | |||
| KENT BOUMA | ||||||||
| BUSINESS SERVICES MANAGER | 45.00 | 120013 | 0 | 25627 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2403563 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 217046 | TotalOtherCompensation |
| Number Individuals GT100 K | 9 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| JACK HENRY & ASSOCIATES (JHA) | |||||
| P O BOX 807 | MONETT | MO | 65708 | VISA CARD PROCESSOR | 768075 |
| BIT LLC | |||||
| 710 SW 34TH ST | RENTON | WA | 98057 | STATEMENT PROCESSING AND POSTAGE | 643389 |
| HARLAND FINANCIAL SOLUTIONS | |||||
| PO BOX 535120 | ATLANTA | GA | 30353 | COMPUTER SOFTWARE PROVIDER AND VENDOR | 413493 |
| DIEBOLD INC | |||||
| PO BOX 643543 | PITTSBURGH | PA | 15364 | SECURITY SYSTEMS EQUIPMENT AND MAINTENAN | 369195 |
| PEARSON CONSTRUCTION CORP | |||||
| 2034 FRANKLIN ST | BELLINGHAM | WA | 98225 | CONSTRUCTION COMPANY | 333539 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 17 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PROGRAM SERVICE REVENU | Description |
| Business Code | 522100 | BusinessCode |
| Total Revenue Column | 49625036 | TotalRevenueColumn |
| Related Or Exempt Function Income | 49625036 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 49625036 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 485768 | TotalRevenueColumn |
| Related Or Exempt Function Income | 485768 | RelatedOrExemptFunctionIncome |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 110522 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -110522 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -110522 | TotalRevenueColumn |
| Related Or Exempt Function Income | -110522 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 50000282 | TotalRevenueColumn |
| Related Or Exempt Function Income | 50000282 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2620609 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8881610 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1629416 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2384070 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 823763 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 268453 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 174000 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 213727 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 319747 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 935090 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 788968 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 178997 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 108880 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3119208 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1398424 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1448178 | Total |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| OTHER OPERATING EXPENSE | 6915582 |
| PROVISION FOR LOAN LOSS | 4529516 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 36738238 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23528463 | BOY |
| EOY | 98923841 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 582610747 | BOY |
| EOY | 599292402 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 40890201 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 12783349 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28390397 | BOY |
| EOY | 28106852 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3827557 | BOY |
| EOY | 3811145 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57635800 | BOY |
| EOY | 35659900 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10983536 | BOY |
| EOY | 10853084 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 706976500 | BOY |
| EOY | 776647224 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4861929 | BOY |
| EOY | 5296960 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 855740 | BOY |
| EOY | 902640 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7961598 | BOY |
| EOY | 5533026 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 567199787 | BOY |
| EOY | 625571526 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 580879054 | BOY |
| EOY | 637304152 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 126097446 | BOY |
| EOY | 139343072 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 126097446 | BOY |
| EOY | 139343072 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 706976500 | BOY |
| EOY | 776647224 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 13262044 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -16418 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amt Of Internal Funds Contributed | 6875 | AmtOfInternalFundsContributed |
| Total Exmpt Function Expenditures | 6875 | TotalExmptFunctionExpenditures |
| Form1120 Pol Filed | 1 | Form1120PolFiled |
Sec527 Pol Orgs Sec527PolOrgs (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Amt Pd From Internal FundsAmtPdFromInternalFunds | Amt Of Contribs Recd DeliveredAmtOfContribsRecdDelivered |
|---|---|---|---|---|---|---|
| NORTHWEST CREDIT UNION ASSOCIATION | ||||||
| 33301 9TH AVE S STE 200 | FEDERAL WAY | WA | 98003 | 910460483 | 6875 | |
| CREDIT UNION LEGISLATIVE ACTION COUNCIL | ||||||
| 601 PENNSYLVANIA AVENUE NW SOUTH BU | WASHINGTON | DC | 200042601 | 521154361 | 5488 | |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: | Identifier |
| Return Reference | PART I-A, LINE 1: | ReturnReference |
| Explanation | CONTRIBUTIONS ARE MADE TO A POLITICAL ACTION COMMITTEE (PAC) AS PART OF WECU'S NORTHWEST CREDIT UNION ASSOCIATION (NWCUA) ANNUAL DUES. THE TOTAL CHECK IS PAYABLE TO NWCUA, AND THE PAC PIECE IS DISTRIBUTED BY THE NWCUA TO THE CREDIT UNION LEGISLATIVE ACTION FUND (CULAF), WHICH IS OUR WASHINGTON STATE PAC. CULAF'S FUNDS ARE RAISED FROM THE DUES INVOICES AS PART OF A VOLUNTARY 'FAIR-SHARE' CONTRIBUTION LISTED FOR EACH STATE-CHARTERED CREDIT UNION. NOTE: IN 2011, WECU COLLECTED $5,488.00 FROM EMPLOYEES IN CONTRIBUTIONS DESIGNATED FOR THE CREDIT UNION LEGISLATIVE ACTION COUNCIL (CULAC), WHICH IS OUR FEDERAL PAC, ADMINSTERED BY CUNA. THESE ARE CAMPAIGN CONTRIBUTIONS AT THE FEDERAL LEVEL, AND CULAC MAY ONLY RECEIVE PERSONAL CONTRIBUTIONS. THE CHECKS WERE PAYABLE TO CULAC, AND WE SENT IN THE CONTRIBUTIONS WEEKLY DURING THE MONTH OF JULY 2011 ALONG WITH A WASHINGTON CONTRIBUTOR DISCLOSURE SPREADSHEET. | Explanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9779845 | OtherCostOrOtherBasis |
| Book Value | 9779845 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 19147375 | OtherCostOrOtherBasis |
| Depreciation | 2859607 | Depreciation |
| Book Value | 16287768 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2684817 | OtherCostOrOtherBasis |
| Depreciation | 1719419 | Depreciation |
| Book Value | 965398 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9278164 | OtherCostOrOtherBasis |
| Depreciation | 8204323 | Depreciation |
| Book Value | 1073841 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 28106852 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (6 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| OTHER LIABILITIES | $7,177,434 |
| MEMBER SHARE DRAFT | $121,432,184 |
| MEMBER IRA SHARES | $19,611,918 |
| SHARE AND IRA CDS | $28,564,240 |
| SHARE SAVINGS | $446,792,035 |
| ACCRUED PENSIONS AND PROFIT SHARING | $1,993,715 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 625571526 | TotalOfAmounts |
| Total Revenue | 50000282 | TotalRevenue |
| Total Expenses | 36738238 | TotalExpenses |
| Excess Or Deficit For Year | 13262044 | ExcessOrDeficitForYear |
| Other | -$16,418 | OtherAmount |
| Total Adjustments | -16418 | TotalAdjustments |
| Excess Or Deficit Per FS | 13245626 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 50000282 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 50000282 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 50000282 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 36738238 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 36738238 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 36738238 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | PART IV, LINE 2B: MONEY RECEIVED WITH MORTGAGE PAYMENTS THAT IS HELD IN ESCROW FOR REAL ESTATE TAXES. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WAYNE LANGEI | |||||||||||||
| 398661 | 0 | 79301 | 0 | 814518 | 0 | 26950 | 0 | 10258 | 0 | 1329688 | 0 | 0 | 0 |
| JEFF DYKSTRA | |||||||||||||
| 114142 | 0 | 23377 | 0 | 1189 | 0 | 15859 | 0 | 11868 | 0 | 166435 | 0 | 0 | 0 |
| KATHLEEN GAVIN | |||||||||||||
| 156863 | 0 | 31589 | 0 | 101386 | 0 | 21060 | 0 | 9580 | 0 | 320478 | 0 | 0 | 0 |
| JENNIFER KUTCHER | |||||||||||||
| 119542 | 0 | 23377 | 0 | 1189 | 0 | 15859 | 0 | 6468 | 0 | 166435 | 0 | 0 | 0 |
| ROBERT LANGEI | |||||||||||||
| 119542 | 0 | 23377 | 0 | 1200 | 0 | 15859 | 0 | 6468 | 0 | 166446 | 0 | 0 | 0 |
| LISA LANGEI | |||||||||||||
| 109739 | 0 | 22665 | 0 | 1306 | 0 | 15241 | 0 | 8854 | 0 | 157805 | 0 | 0 | 0 |
| COLIN NAYLOR | |||||||||||||
| 109239 | 0 | 22665 | 0 | 1205 | 0 | 15241 | 0 | 11854 | 0 | 160204 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 4B | ReturnReference |
| Explanation | SCHEDULE J, PART III, SUPPLEMENTAL INFORMATION. THE CREDIT UNION MADE CONTRIBUTIONS TO A 457 (F) PLAN ON BEHALF OF THE CEO, WAYNE LANGEI, AND THE EXECUTIVE VICE PRESIDENT, KATHLEEN GAVIN, IN THE AMOUNTS OF $459,981 AND $65,071, RESPECTIVELY. | Explanation |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | SHANNON DYKSTRA | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | SPOUSE OF CFO | Relationship |
| Amount Of Transaction | 13620 | AmountOfTransaction |
| Description Of Transaction | FEES PAID FOR JANITORIAL SERVICES. | DescriptionOfTransaction |
| Sharing Of Revenues | 0 | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | A SPOUSAL RELATIONSHIP AND A FATHER/SON RELATIONSHIP EXIST WITHIN THE EXECUTIVE MANAGEMENT GROUP. | |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS MEMBERS. | |
| 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, OR 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 11 | OUR FORM 990 TAX FILING IS REVIEWED BY WECU'S ACCOUNTING MANAGER AND VP/CFO IN DETAIL. IT IS COMPARED TO OUR PREVIOUS YEAR'S RETURN, TIED BACK TO OUR FINANCIAL STATEMENTS AND OUR GENERAL LEDGER RECORDS. THEN, IT IS REVIEWED BY OUR PRESIDENT/CEO PRIOR TO FILING. A COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | WECU'S CONFLICT OF INTEREST POLICY FOCUSES ON DEFINING AND PREVENTING CONFLICTS OF INTEREST. BEFORE ENGAGING IN ANY ACTIVITY, TRANSACTION, OR BEFORE ENTERING INTO ANY RELATIONSHIP THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST, EMPLOYEES MUST SEEK REVIEW FROM THEIR MANAGERS, THE INTERNAL AUDITOR, OR THE HUMAN RESOURCES DEPT. WECU'S HR DEPT., STAFF LIAISON, AND INTERNAL AUDITOR ARE RESPONSIBLE FOR ENSURING THAT NO CONFLICT OF INTERESTS OCCUR THAT COULD HAVE A NEGATIVE EFFECT ON WECU. IF ANYONE SUSPECTS A CONFLICT OF INTEREST, IT IS REPORTED TO MANAGEMENT, THE STAFF LIAISON, THE HR DEPT., OR THE INTERNAL AUDITOR. WECU HAS VARIOUS ANNUAL REVIEWS AND CONTROLS IN PLACE TO MONITOR SITUATIONS IN WHICH A CONFLICT OF INTEREST MIGHT ARISE, WHICH ARE PERFORMED BY MANAGEMENT, OR OUR INTERNAL AUDITOR. | |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE PRESIDENT/CEO IS DETERMINED BY THE DETAILS OF THE EMPLOYMENT CONTRACT SET FORTH BETWEEN THE BOARD OF DIRECTORS AND THE PRESIDENT/CEO. TO ENSURE THAT PAY RATES ARE COMPETITIVE WITHIN THE MARKETPLACE, THE CREDIT UNION PARTICIPATES IN A NUMBER OF INDUSTRY-SPECIFIC SALARY/COMPENSATION SURVEYS SUCH AS THOSE SPONSORED BY CREDIT UNION NATIONAL ASSOCIATION (CUNA), CREDIT UNION EXECUTIVE SOCIETY (CUES), AND THE WASHINGTON BANK AND CREDIT UNION SALARY AND BENEFIT SURVEY. UTILIZING DATA FROM THESE SURVEYS, WECU'S PRESIDENT/CEO AND EVP DETERMINE THE OVERALL SALARY STRUCTURE FOR THE CREDIT UNION. THEY ALSO MAKE THE FINAL DETERMINATION FOR INCREASES TO COMPENSATION FOR ALL STAFF MEMBERS, INCLUDING OFFICERS AND KEY EMPLOYEES, AFTER RECEIVING PROPOSALS AND FEEDBACK FROM MANAGEMENT, CROSS-REFERENCING THE REQUESTS TO THE SURVEYS MENTIONED ABOVE AND DETERMINING HOW THESE EXPENSES WILL FIT INTO THE OVERALL CREDIT UNION BUDGET AND STRATEGIC PLAN. THE EVP'S COMPENSATION IS REVIEWED BY THE PRESIDENT/CEO, AND CHANGES ARE RECOMMENDED BY THE PRESIDENT/CEO. | |
| FORM 990, PART VI, SECTION C, LINE 19 | WECU HAS A MEMBER RIGHTS POLICY IN WHICH WE STIPULATE HOW OUR MEMBERS CAN REQUEST AND RECEIVE CREDIT UNION CORPORATE RECORDS, WHICH INCLUDE OUR ARTICLES AND BYLAWS, MINUTES OF MEMBERSHIP MEETINGS AND ANNUAL FINANCIAL REPORT, FINANCIAL REPORTS AND FORMS, CODE OF ETHICS, BOARD GOVERNANCE POLICIES, AND BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE NAMES. A MEMBER REQUEST MUST BE SUBMITTED IN WRITING TO THE CREDIT UNION AND SPECIFICALLY IDENTIFY THE DISCLOSABLE RECORDS REQUESTED. THE CREDIT UNION MAY REQUIRE THE MEMBER TO SIGN A CONFIDENTIALITY AGREEMENT TO PROTECT THE CREDIT UNION FROM UNAUTHORIZED DISCLOSURE OF CERTAIN PROPRIETARY INFORMATION. IF ANY DOCUMENTS CONTAIN MEMBER INFORMATION, IT WILL BE EXPUNGED FROM THE DOCUMENT BEFORE BEING PROVIDED TO THE PUBLIC. | |
| FORM 990, PART XI, LINE 5: | NET CHANGE IN UNREALIZED GAIN ON AFS INVESTMENTS -16,418. TOTAL TO FORM 990, PART XI, LINE 5: -16,418. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C: | THE SUPERVISORY COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS. |