2025-05-06T15:06:49-07:00 2024-12-31 990 2024-01-01 910564946 CREDIT UNIONS IN THE STATE OF WASHINGTON CRED 5098386157 PO Box 48275 Spokane WA 992281275 Annettee Babb CEO 5092328905 2025-05-06 1 2024 2025-03-06 01:10:19Z PrimeSource Credit Union Annettee Babb 9707 N Nevada St Spokane WA 992181275 5189309 0 1269 X primesourcecu.org X 1935 WA To serve current and new members financial needs 7 7 23 7 0 0 0 0 3861527 4186798 473013 586000 408052 416511 4742592 5189309 0 0 949582 1421513 1353186 1326948 0 0 0 2282909 2438066 4585677 5186527 156915 2782 93946120 93727205 4204241 981068 89741879 92746137 The credit union operated without profit for mutual purposes 0 0 5186527 0 5189309 Credit Union Programs: Providing financial services to members. These include, but are not limited to, Loans and Savings programs. The services are provided by employees and non-paid volunteers. 0 0 0 5186527 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 23 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 0 1 1 0 WA X PrimeSource Credit Union 5098386157 PO Box 48275 Spokane WA 992181275 Annettee Babb CEO 40 0 X X X 178994 0 0 John McCroskey Board Member 0 0 X 0 0 0 Kim Crompton Board Member Secretary 0 0 X 0 0 0 Conrad Band Board Member - Vice Chair 0 0 X 0 0 0 Karol Price Supervisory Committee - Chair 0 0 X 0 0 0 Terry Holbrook Board Member 0 0 X 0 0 0 Susan Gordon Supervisory Committee Member and Secretary 0 0 X 0 0 0 Clint Price Board Member - Chair 0 0 X 0 0 0 Rita Heldenbrand Board Member 0 0 X 0 0 0 Josefina Mields Supervisory Committee Member 0 0 X 0 0 0 Jim Dillon Board Member 0 0 X 0 0 0 178994 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 Interest on Loans to Members 522130 3789613 3789613 0 0 Service Fees 522130 397185 397185 0 0 0 0 0 0 4186798 586000 586000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 416511 416511 0 0 416511 5189309 5189309 0 0 0 0 0 0 0 0 1421513 1421513 178994 178994 0 0 0 0 0 0 834638 834638 0 0 120892 120892 0 0 112526 112526 0 0 79898 79898 0 0 0 0 0 0 3321 3321 0 0 31879 31879 0 0 0 0 0 0 0 0 0 0 0 0 53000 53000 0 0 68601 68601 0 0 109183 109183 0 0 314863 314863 0 0 0 0 0 0 228622 228622 0 0 0 0 0 0 0 0 0 0 35640 35640 0 0 7106 7106 0 0 0 0 0 0 136745 136745 0 0 58189 58189 0 0 Provision for Loan and Courtesy Pay Losses 725000 725000 0 0 Loan Servicing 355371 355371 0 0 Member Service Costs 281552 281552 0 0 Miscellaneous 28994 28994 0 0 0 0 0 0 5186527 5186527 0 0 5876923 7813043 20903280 23953514 0 0 10027 9536 0 0 0 0 61523349 56382919 0 0 654810 580688 5459194 1158562 4394951 4300632 0 0 0 0 14381 13715 32971 28475 535428 644683 93946120 93727205 4532359 790374 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -328118 190694 4204241 981068 X 79082627 82172143 0 0 10659252 10573994 89741879 92746137 93946120 93727205 X 2782 0 0 0 0 3001476 X 1 X 1 X 1 0 1293631 0 1293631 4165563 0 1158562 3007001 0 0 0 0 0 0 0 0 0 0 0 0 4300632 0 Settlement, Clearing and Pension 190694 190694 5189309 0 0 0 0 0 5189309 0 0 0 5189309 5186527 0 0 0 0 0 5186527 0 0 0 5186527 X X X 0 0 0 Annettee Babb CEO 180278 0 15000 0 0 0 0 0 0 0 195278 0 0 0 Schedule J, Part I, Line 3 The credit union hires an independent company to do a CEO survey comparison as well as purchase salary information from a vendor that provides credit union and bank salaries. Form 990, Part VI, Section A, Line 6 PrimeSource is a credit union and be definition is a financial cooperative, composed of members who hold a savings and/or loan account. PrimeSource is governed by a 7 member Board of Directors who are elected from and by the membership and are unpaid volunteers. Form 990, Part VI, Section A, Line 7a PrimeSource holds an annual meeting with membership voting. Each eligible members of the credit union has equally one vote at the annual election of the Officers to the Board of Directors for open positions. Form 990, Part VI, Section B, Line 11b The 990 is completed by Executive Management and reviewed by the CEO. Form 990, Part VI, Section B, Line 12c There is an annual review of the Conflict of Interest policy with volunteers, management and staff. Form 990, Part VI, Section B, Line 15 PrimeSource hires a 3rd party vendor to do a salary comparison for the CEO. Annually the CEO's performance evaluation, salary and bonus is set by the Board of Directors. All staff has an annual performance evaluation. PrimeSource purchases salary surveys and data from vendors that has salary information directly related to credit unions and banks. Form 990, Part VI, Section C, Line 19 PrimeSource publishes its financial statements each year during the annual meeting of its members. Copies of these statements are also available upon request from individuals at our office. Additionally, we provide our 990 for review, upon request by individuals at our office. Copies of our Conflict of Interest policy is given to each new employee and to each member applying for the Board of Directors or Supervisory Committee upon receipt of their application. Our financial information is also available on NCUA's website as part of our quarterly call report filing. Form 990, Part XI, Line 9 This is attributed to changes in member loans and deposits in conjunction with a change in comprehensive income, and an increase in provisions.