2012-05-10T09:56:00-08:00 2011-12-31 990 2011-01-01 910333066 KITSAP CREDIT UNION KITS 3606622000 PO BOX 990 BREMERTON WA 98337 SCOTT HENDERSON 3606622000 2012-05-07 2011 2016-02-24 21:20:13Z KITSAP CREDIT UNION SCOTT HENDERSON PO BOX 990 BREMERTON WA 98337 87259646 false true X WWW.KITSAPCU.ORG X CREDIT UNION 1934 WA A NOT-FOR-PROFIT FINANCIAL COOPERATIVE OFFERING CHECKING & SAVINGS PROGRAMS LENDING & RELATED SVCS TO MBRS WHO LIVE WORK OR WORSHIP IN WA STATE. PROV IDES FINANCIAL LITERARY PROGRAMS & INVOLVED IN COMMUNITY OUTREACH PROGRAMS. 9 9 383 12 803290 0 52545290 48012391 2393434 3206234 254853 54938724 51473478 0 0 16416233 15900900 0 0 45855267 29016820 62271500 44917720 -7332776 6555758 832358741 862486634 762726245 783029852 69632496 79456782 TO OFFER CHECKING SAVINGS AND LENDING PROGRAMS TO MEMBERS WHO LIVE WORK AND WORSHIP IN THE STATE OF WASHINGTON. KCU ALSO PROVIDES FINANCIAL LITERARY PROGRAMS AND IS ACTIVELY INVOLVED IN COMMUNITY OUTREACH PROGRAMS. false false SECURED AND UNSECURED LOANS ISSUED TO CREDIT UNION MEMBERS AS RELATED TO THE EXEMPT PURPOSE OF KCU. THE TYPES OF LOANS ISSUED INCLUDE DIRECT AND INDIRECT VEHICLE LOANS VISA'S HOME EQUITY LOANS AND MORTGAGE LOANS. SAVINGS PROGRAMS THAT ARE PROVIDED TO CREDIT UNION MEMBERS AS RELATED TO THE EXEMPT PURPOSE OF KCU. THE TYPES OF ACCOUNTS OFFERED ARE CHECKING MONEY MARKET ACCOUNTS IRA ACCOUNTS REGULAR SAVINGS AND CERTIFICATES. COMMUNITY OUTREACH BRANCHES OFFERED IN HIGH SCHOOLS. COMMUNITY INVOLVEMENT INCLUDING DONATION OF STAFF TIME IN THE COMMUNITY. KCU ALSO OFFERS MANY FINANCIAL LITERACY CLASSES FOR CHILDREN AND ADULTS. false false false false false false false false true true false false true false false false false false false false false false false false false false false true false false true false false false false false false false false false false false false false true 2 0 true 383 true true true false false false false false false false false false X 9 9 false false false false true true false true true false false false true true true true true true true false WA X SCOTT HENDERSON 3606622000 155 WASHINGTON AVE BREMERTON WA 98337 GREGG ELLIOT 40 X 649057 0 40798 HENDERSON SCOTT 40 X 176732 0 37711 LETEXIER KELLIE 40 X 149887 0 23734 HALL GEORGE 40 X 151846 0 20524 MORRISON COLIN 40 X 143319 0 21634 YOUNG CAROLYN X 119183 0 11938 HUGHES JEANETTE 40 X 107814 0 9432 RANSIER DONNA 40 X 107486 0 9467 HUCK DAVID 40 X 119021 0 11956 WEAVER KEN 40 X 100483 0 11336 JOHNSON WENDIE 8 X 0 0 0 RUMBOLD WILLIAM 8 X 0 0 0 THOMAS TERRENCE 5 X 0 0 0 ROWSON JAMES 5 X 0 0 0 ADDY MARY LOU 5 X 0 0 0 ALLBEE DEBRA 5 X 0 0 0 ANDERSON DAVE 5 X 0 0 0 MAXON CAROLYN 5 X 0 0 0 SLACH HAROLD 5 X 0 0 0 MAIERS WILLIAM 1 X 0 0 0 STRICKLAND RALPH 1 X 0 0 0 BAILEY WILLIAM 5 X 0 0 0 DIBERT PATRICIA 5 X 0 0 0 ROSS LANNY 5 X 0 0 0 1824828 198530 10 true true false DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 90051 BILL PAY SERVICE 907953 VISA DPS FILE NO 73583 PO BOX 6000 SAN FRANCISCO CA 94160 PLASTIC CARD DATA PROC. 744849 DIEBOLD INCORPORATED PO BOX 64353 PITTSBURGH PA 15264 ATM-SECURITY EQUIPMENT SERVICES 426722 SPRAGUE ISRAEL GILES 2000 CENTURY SQ 1501 4TH AVE SEATTLE WA 98101 ATTORNEY SERVICES 464510 ALLCARE JANITORIAL SVC PO BOX 785 BELFAIR WA 98528 JANITORIAL SERVICES 425068 13 INTEREST ON LOANS 522130 35820360 35820360 FEE INCOME 522130 5760787 5760787 OTHER INCOME 522130 2414507 1697691 716816 DEBIT CARD INTERCHANGE 522130 4016737 4016737 48012391 3013853 3013853 33683554 2549848 33491173 2294995 192381 254853 447234 254853 447234 51473478 47550428 716816 3461087 2023358 10437659 403537 1905945 1130401 54468 31217 110889 703986 899911 4009591 2705835 2660768 143041 4841326 963640 299039 TOTAL PROVISION 6935284 LOAN EXPENSES 1008505 MISCELLANEOUS 3624823 IMPAIRED INVESTMENT LOSSES 24496 44917719 0 0 0 12689937 14096014 19687318 16767374 646366196 580500953 1502364 2337619 49656820 14869797 35013876 34787023 111729192 206074860 5369858 7922791 832358741 862486634 28606999 31306535 60242 109280 734059004 751614037 762726245 783029852 69632496 79456782 69632496 79456782 832358741 862486634 X 6555758 3268528 X false true true false false 6773617 6773617 29540231 3914963 25625268 4859375 4479530 379845 8483597 6475304 2008293 34787023 NCUA SHARE INSURANCE DEPOSIT 7248408 F FEDERAL AGENCY SECURITIES 115061763 F FHLB STOCK 2605400 F OVERNIGHT INVESTMENTS 79849360 F OTHER INVESTMENTS 1309929 F 206074860 SHARES 236153323 CHECKING 142699770 MONEY MARKET 140319524 ESCROW SHARES 616433 IRA SHARES 16405216 SHARE CERTIFICATES 190483055 IRA SHARE CERTIFICATES 24936716 751614037 FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT CPA FIRM FOR THE PERIOD OF OCTOBER 2010 THROUGH SEPTEMBER 2011. X true true X X X X false true false false false false false false false false GREGG ELLIOT 344342 64539 222676 26300 14498 672355 643427 HENDERSON SCOTT 174583 2149 23213 14498 214443 188098 LETEXIER KELLIE 149502 385 5980 17754 173621 151936 MORRISON COLIN 142725 594 7136 14498 164953 150595 HALL GEORGE 150646 1200 6026 14498 172370 166962 YOUNG CAROLYN 118393 790 4736 7202 131121 124746 HUGHES JEANETTE 107396 418 4254 5178 117246 RANSIER DONNA 107214 272 4289 5178 116953 HUCK DAVID 105243 13601 177 4754 7202 130977 WEAVER KEN 38479 64863 141 4134 7202 114819 SEE SCHEDULE O X false false false FORM 990 PART VI SECTION A LINE 6 KITSAP CREDIT UNION HAD 83507 MEMBERS AS OF DECEMBER 31 2011. FORM 990 PART VI SECTION A LINE 7A MEMBERS ELECT ALL DIRECTORS FOR A 3-YEAR TERM. THEY CAN RUN FOR RE-ELECTION. BALLOTS ARE MAILED TO ALL MEMBERS DURING THE 1ST QUARTER EACH YEAR. FORM 990 PART VI SECTION A LINE 8A KCU RECORDS MEETING MINUTES FOR ALL COMMITTEE MEETINGS. FORM 990 PART VI SECTION B LINE 11B THE ACCOUNTING MANAGER ACCOUNTING SUPERVISOR AND SVPCFO REVIEW THE RETURN FOR ACCURACY. FORM 990 PART VI SECTION B LINE 12C THE CODE OF CONDUCTCONFLICT INTEREST POLICY IS REQUIRED TO BE REVIEWED AND SIGNED (WITH OR WITHOUT DISCLOSURES) OR ACKNOWLEDGED (BY ELECTRONIC SIGNATURE) UPONHIRE FOR NEW EMPLOYEES AND ANNUALLY THEREAFTER FOR ALL STAFF OFFICIALS AND DIRECTORS. ACKNOWLEDGEMENTS RECEIVED FROM INDIVIDUALS WHO DISCLOSE A POTENTIAL CONFLICT ARE FORWARDED TO THE CEO OR CFO FOR REVIEW AND APPROVAL. FORM 990 PART VI SECTION B LINE 15ALINE 15B KITSAP CREDIT UNION USES AN OUTSIDE COMPENSATION CONSULTANT (ONE FOR STAFF AND ANOTHER FOR EXECUTIVE COMPENSATION) TO DETERMINE MARKET RANGES FOR PAY FOR ALL POSITIONS. THE HUMAN RESOURCES DEPT. WORKS WITH THE CONSULTANTS TO ENSURE PAY RANGES ARE COMPETITIVE AND WITHIN THE MARKET. ACTUAL INDIVIDUAL PAY FOR THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS. PAY FOR OFFICERS IS DETERMINED BY THE CEO. FORM 990 PART VI SECTION C LINE 19 KITSAP CREDIT UNION MAKES THE MONTHLY FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THEM IN EACH BRANCH. GOVERNING DOCUMENTS SUCH AS ARTICLES OF INCORPORATION ARE AVAILABLE UPON REQUEST. CONFLICT OF INTEREST POLICIES ARE NOT MADE PUBLIC. FORM 990 PART XI LINE 5 CHANGES IN NET ASSETS OF 3268528 IS THE DIFFERENCE IN THE FASB 115 INVESTMENT MARKET VALUATION FOR DECEMBER 2010 (164397) AND 2011 3104130. FORM 990 SCHEDULE L PART II LOANS TO INTERESTED PERSONS ARE NOT LISTED. PER INSTRUCTIONS THESE LOANS ARE NOT LISTED BECAUSE THE LOANS ARE ON THE SAME TERMS AS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION.