2024-07-14T21:08:33-05:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 930444581 OREGON STATE CREDIT UNION OREG 5417144000 4800 SW RESEARCH WAY CORVALLIS OR 97333 DERRICK PETERSON EVP & CFO 5417144361 2024-07-09 1 DERRICK PETERSON 999009999 0 JOHN J MURNANE JR P03021572 3052328272 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z GARY SCHUETTE II 4800 SW RESEARCH WAY CORVALLIS OR 97333 114120989 0 X WWW.OREGONSTATECU.COM X 1954 OR PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 10 10 339 0 349339 0 0 0 69774716 85719117 8371506 12162646 16403588 16239226 94549810 114120989 279107 283465 0 0 28326056 32896003 0 0 0 34475212 61556109 63080375 94735577 31469435 19385412 2140153244 2166247809 1960727457 1966977027 179425787 199270782 PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 0 0 THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. AS OF DECEMBER 31, 2023, THE CREDIT UNION HAD APPROXIMATELY 142,504 MEMBERS, OF WHICH 67,309 MEMBERS HAVE ACTIVE LOANS. THE TOTAL NUMBER OF DEPOSIT AND SHARE ACCOUNTS WAS 293,663 AND THE TOTAL NUMBER OF LOANS OUTSTANDING WAS 87,770. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 34656 0 1 339 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X DERRICK PETERSON 5417144000 4800 SW RESEARCH WAY CORVALLIS OR 97333 ANA LUCIA FONSECA TAPIA DIRECTOR 1.00 X 15250 0 0 JAMIE HUGHES DIRECTOR 1.00 X 10250 0 0 JAY CONROY DIRECTOR 1.00 X 14750 0 0 JONATHAN SASSAMAN DIRECTOR 1.00 X 11500 0 0 MARY BETH ALTMANN HUGHES DIRECTOR 1.00 X 7750 0 0 MIKE GREEN DIRECTOR 1.00 X 17309 0 0 NADINE DAVISON DIRECTOR 1.00 X 15250 0 0 REBECCA BADGER DIRECTOR 1.00 X 17309 0 0 THOMAS ELZINGA DIRECTOR 1.00 X 12418 0 0 TIM ROCAK DIRECTOR 1.00 X 15080 0 0 KELLEY KAISER BOARD CHAIRPERSON 1.00 X 23656 0 0 RICHARD HEIN PRESIDENT/CEO 40.00 X 950952 0 79897 RHONDA HEILE-BROWN EXECUTIVE VP/COO 40.00 X 720728 0 113333 CRAIG COLE EVP/CIO 40.00 X 539083 0 43210 JAMES DERRICK PETERSON EVP/CFO 40.00 X 316996 0 22430 LAURIE ROE EVP/CCXO 40.00 X 268833 0 126918 BOBBIE WARNER EVP/CFO 40.00 X 269758 0 43004 KIM SATHER EVP/CIO 40.00 X 199433 0 12127 JAMES GIBSON SR VP BRANCH SERVICES 40.00 X 250866 0 89426 JAMES LEE BRANNEN SR VP GENERAL COUNSEL 40.00 X 241967 0 55412 JOSHUAH WHISENHUNT SR VP FINANCIAL SERVICES 40.00 X 239077 0 67399 VICKI D STEVENS DIRECTOR OF EXECUTIVE SERVICES 40.00 X 213928 0 34911 PAIGE JACKSON VP OF HUMAN RESOURCES 40.00 X 211992 0 35740 TIFFANY SHIRLEY VP OF RISK MANAGEMENT 40.00 X 195276 0 37883 PEGGY L MEHL DIRECTOR OF REGIONAL BRANCH SERVICES 40.00 X 194958 0 33371 TESKER LEMOINE DIRECTOR OF NETWORK SERVICES 40.00 X 208452 0 25276 5182821 0 820337 64 0 1 0 PSCU FINANCIAL SERVICES DDA 560 CARILLON PKWY ST PETERSBURG FL 33716 TRANSACTION PROCESSING 2692107 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 VISA DEBIT AND CREDIT PROCESSING 2014395 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT PROCESSING 1373150 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING 1362687 CORELATION INC 2305 HISTORIC DECATUR RD SAN DIEGO CA 92106 CORE SOFTWARE SERVICE 691358 49 INCOME ON LOANS 522100 80256891 80256891 FEES AND CHARGES 522100 5112887 5112887 UNRELATED BUSINESS INC 520000 349339 349339 85719117 12162646 12162646 INTERCHANGE INCOME 522100 13160975 13160975 OTHER INCOME 522100 2426111 2426111 MORTGAGE SERVICING RIG 522100 594454 594454 57686 57686 16239226 114120989 113771650 349339 0 X 258465 25000 4811371 18136946 2365188 5515298 2067200 65010 213803 61711 6610650 1302164 3137926 1922467 3659518 66003 199160 22113130 1887748 153939 PROVISION FOR LOAN LOSS 16358227 OTHER LOAN EXPENSES 3427281 ATM EXPENSES 219516 OPERATING FEES 157856 94735577 17394783 17652897 24083361 91025886 974981 4914386 1368367779 1420298195 2199060 2346934 62552177 22568348 40417131 39983829 598569069 500277511 11376366 9149297 76770714 80598874 2140153244 2166247809 28401884 29194944 2217132 2463579 43355967 0 1886752474 1935318504 1960727457 1966977027 X 0 0 0 0 0 0 179425787 199270782 2140153244 2166247809 X 19385412 7424854 -6965271 X X 0 1 X 1 0 0 1 X 8773257 8773257 39666788 11660912 28005876 14112132 10907436 3204696 39983829 IRA/HEALTH SAVINGS ACCOUNTS 26673963 MONEY MARKET ACCOUNTS 627036433 SHARE AND IRA CERTIFICATES 385597060 SHARE DRAFTS 489646538 SHARES 406364510 1935318504 X PART IV, LINE 2B: THE CREDIT UNION COLLECTS (ON A MONTHLY BASIS) PAYMENT FROM THEIR MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INLCUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 PEACEHEALTH - CHILDRENS MIRACLE NETWORK PO BOX 10905 EUGENE OR 97440 936026548 501(C)(3) 22000 0 OPERATIONAL SUPPORT OREGON HEALTH AND SCIENCE UNIVERSITY FOUNDATION PO BOX 29017 PORTLAND OR 97296 237083114 501(C)(3) 22000 0 OPERATIONAL SUPPORT OREGON STATE UNIVERSITY FOUNDATION 850 SW 35 STREET CORVALLIS OR 97333 936022772 501(C)(3) 10000 0 SCHOLARSHIP SUPPORT LINN-BENTON COMMUNITY COLLEGE FOUNDATION 6500 PACIFIC BLVD SW ALBANY OR 97321 237212073 501(C)(3) 7700 0 SCHOLARSHIP SUPPORT WESTERN OREGON UNIVERSITY FOUNDATION 345 MONMOUTH AVE N MONMOUTH OR 97361 936033807 501(C)(3) 7500 0 SCHOLARSHIP SUPPORT GARTEN SERVICES 500 HAWTHORNE AVE SE SALEM OR 97301 930582004 501(C)(3) 6000 0 OPERATIONAL SUPPORT 6 0 SCHOLARSHIPS 10 25000 PART I, LINE 2: EACH SCHOLARSHIP RECIPIENT MUST PROVIDE PROOF OF FALL ENROLLMENT AT A COLLEGE OR UNIVERSITY. THE SELECTION AND AWARD PROCESS IS DOCUMENTED IN THE CREDIT UNION'S POLICIES/PROCEDURES. RECORDS OF SELECTION IS MAINTAINED FOR A MINIMUM OF THREE YEARS. X X X X 1 1 0 RICHARD HEIN PRESIDENT/CEO 743220 0 201500 0 6232 0 66145 0 13752 0 1030849 0 0 0 RHONDA HEILE-BROWN EXECUTIVE VP/COO 409284 0 1500 0 309944 0 102458 0 10875 0 834061 0 0 0 CRAIG COLE EVP/CIO 95098 0 0 0 443985 0 38626 0 4584 0 582293 0 0 0 LAURIE ROE EVP/CCXO 256234 0 3000 0 9599 0 113379 0 13539 0 395751 0 0 0 JAMES GIBSON SR VP BRANCH SERVICES 249366 0 1500 0 0 0 75674 0 13752 0 340292 0 0 0 JAMES DERRICK PETERSON EVP/CFO 291616 0 25380 0 0 0 9851 0 12579 0 339426 0 0 0 BOBBIE WARNER EVP/CFO 260884 0 6560 0 2314 0 31661 0 11343 0 312762 0 0 0 JOSHUAH WHISENHUNT SR VP FINANCIAL SERVICES 226873 0 1500 0 10704 0 56678 0 10721 0 306476 0 0 0 JAMES LEE BRANNEN SR VP GENERAL COUNSEL 240467 0 1500 0 0 0 44072 0 11340 0 297379 0 0 0 VICKI D STEVENS DIRECTOR OF EXECUTIVE SERVICES 183659 0 27441 0 2828 0 24301 0 10610 0 248839 0 0 0 PAIGE JACKSON VP OF HUMAN RESOURCES 210492 0 1500 0 0 0 24971 0 10769 0 247732 0 0 0 TESKER LEMOINE DIRECTOR OF NETWORK SERVICES 122929 0 0 0 85523 0 15261 0 10015 0 233728 0 0 0 TIFFANY SHIRLEY VP OF RISK MANAGEMENT 188057 0 1500 0 5719 0 24142 0 13741 0 233159 0 0 0 PEGGY L MEHL DIRECTOR OF REGIONAL BRANCH SERVICES 181492 0 13466 0 0 0 22090 0 11281 0 228329 0 0 0 KIM SATHER EVP/CIO 183428 0 16005 0 0 0 5128 0 6999 0 211560 0 0 0 PART I, LINES 4A-B T.LEMOINE: $85,523 CERTAIN MEMBERS OF THE EXECUTIVE LEADERSHIP PARTICIPATE IN NON-QUALIFIED RETIREMENT PLANS. THE FOLLOWING REPRESENT THE AMOUNTS ACCRUED FOR EACH PARTICIPANT DURING THE YEAR ENDED DECEMBER 31, 2023: R. HEIN: 457F SERP $27,370 C. COLE: 457F SERP $26,333 R. HEILE-BROWN: 457F SERP $63,683 J. GIBSON: 457F SERP $45,091 L. ROE: 457F SERP $82,324 J. BRANNEN: 457F SERP $15,882 J. WHISENHUNT: 457F SERP $28,529 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION 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 11B MANAGEMENT REVIEWS THE FORM 990 IN DETAIL BEFORE FILING. ADDITIONALLY, THE FORM 990 IS PROVIDED TO THE MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO FILING. THE MEMBERS OF THE BOARD OF DIRECTORS ARE GIVEN SUFFICIENT TIME TO SUBMIT ANY QUESTIONS REGARDING THE RETURN AS WELL AS RECEIVE ANSWERS TO THEIR QUESTIONS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS ENFORCED IN TWO WAYS - 1) UPON HIRING, EMPLOYEES ARE REQUIRED TO READ AND CERTIFY THEIR ACCEPTANCE OF THE POLICY, AND 2) ANNUALLY EXPECTATIONS INCLUDING CONFLICT OF INTEREST ARE REVIEWED WITH ALL STAFF INCLUDING A REMINDER TO UPDATE DISCLOSURE OF CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THIRD PARTY SALARY FOR THE CEO POSITION AND WORKS WITH THIRD PARTY TO PREPARE A PERFORMANCE REVIEW AND COMPENSATION PLAN. THIRD PARTY SALARY INFORMATION IS USED TO CREATE SALARY RANGES AND PERFORMANCE INCREASES ARE DETERMINED WITHOUT THIRD PARTY ASSISTANCE. FOR OTHER KEY POSITIONS, THIRD PARTY SALARY INFORMATION IS USED TO CREATE SALARY RANGES. PERFORMANCE INCREASES ARE DETERMINED WITHOUT THIRD PARTY ASSISTANCE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G OUTSIDE SERVICES - OTHER 664,677. OUTSIDE SERVICES - NEW ACCOUNT RECORD SEARCH 114,601. OUTSIDE SERVICES - VISA STATEMENT PROCESSING 132,685. OUTSIDE SERVICES - COURIER 147,233. OUTSIDE SERVICES - CHECK PROCESSING 142,148. OUTSIDE SERVICES - BOARD CONSULTING 196,620. OUTSIDE SERVICES - HR PAYROLL ACTUARIAL 215,038. OUTSIDE SERVICES - UNDERWRITING CUDL 223,823. OUTSIDE SERVICES - PROCESSING ATM & DEBIT PIN 283,296. OUTSIDE SERVICES - NETWORK 282,719. OUTSIDE SERVICES - CALL CENTER SUPPORT 654,778. OUTSIDE SERVICES - STATEMENT PROCESSING 1,072,612. OUTSIDE SERVICES - DEBIT CARD PROCESSING 2,480,420. FORM 990, PART XI, LINE 9: UNREALIZED HOLDING GAINS ON POST RETIREMENT BENEFIT ASSETS 107,549. CUMULATIVE EFFECT FROM CHARGE IN ACCOUNTING PRINCIPLE -7,072,820. PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT AUDITORS. OSU FINANCIAL SERVICES LLC 4800 SW RESEARCH WAY CORVALLIS OR 97339 931101064 INSURANCE PRODUCTS OR 235244 202315 OREGON STATE CREDIT UNION