2024-11-15T14:42:42-06:00 2023-12-31 810987947 HAUSER JONES & SAS PLLC 10940 NE 33RD PLACE SUITE 100 BELLEVUE WA 98004 990 2023-01-01 910567189 OUR COMMUNITY CREDIT UNION OURC 8004265657 PO BOX 1670 SHELTON WA 98584 RYAN DRAKE PRESIDENT/CEO 8004265657 2024-11-15 1 0 ROGER A JONES CPA P01702335 4258891778 2024-11-15 2023 2024-10-15 13:58:12Z RYAN DRAKE PO BOX 1670 SHELTON WA 98584 32258302 0 X WWW.OURCU.COM X 1941 WA OUR MISSION IS TO SUSTAIN CONSISTENT GROWTH AND A STRONG FINANCIAL POSITION. 7 7 125 0 327727 0 1192639 749000 16360502 19244653 6604328 11873951 1773012 308015 25930481 32175619 0 65000 0 0 9253456 9988569 0 0 0 10785197 15673030 20038653 25726599 5891828 6449020 590462520 594854081 539908400 536816493 50554120 58037588 X OUR COMMUNITY CREDIT UNION IS A MEMBER-OWNED FINANCIAL COOPERATIVE. OUR MISSION IS TO SUSTAIN CONSISTENT GROWTH AND A STRONG FINANCIAL POSITION.-WE WILL TREAT ALL MEMBERS IN A DIGNIFIED, CARING MANNER.-WE WILL MANAGE OUR MEMBERS' BUSINESS CONFIDENTIALLY.-WE WILL PROVIDE OUR MEMBERS WITH CHOICES IN THE SERVICES WE OFFER.-WE WILL BUILD LASTING RELATIONSHIPS THROUGH CONSULTATION TO AID US IN HELPING MEET OUR MEMBERS' NEEDS. 0 0 OUR COMMUNITY CREDIT UNION PROVIDES FINANCIAL SERVICES INCLUDING DEPOSITS AND CONSUMER LENDING TO RESIDENTS OF WASHINGTON STATE AT LOCATIONS IN THE SOUTH SOUND AREA. 0 1 1 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 6813 0 1 125 1 1 1 0 0 0 0 0 1 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X RYAN DRAKE 3604325234 PO BOX 1670 SHELTON WA 98584 SADIE HAWKINS BOARD MEMBER 2.00 X 0 0 0 CURTIS STRACKE SECRETARY/TREASURER 2.00 X X 0 0 0 PAUL WING BOARD MEMBER 2.00 X 0 0 0 AMY THOMASON BOARD MEMBER 2.00 X 0 0 0 A ROY DUNN JR BOARD MEMBER 2.00 X 0 0 0 CLAY GLEB BOARD VICE CHAIR 2.00 X 0 0 0 MARK MAGER BOARD CHAIR 2.00 X 0 0 0 JULIE TUSON ASSOCIATE MEMBER 2.00 X 0 0 0 BERT FISHER PRESIDENT 60.00 X 1089463 0 770932 RYAN DRAKE CEO 60.00 X 174635 0 168942 ROBERT IHDE CIO 60.00 X 112942 0 16354 REID M MILLER CFO 60.00 X 101852 0 17065 STEPHANIE LYNN STEEN COO 60.00 X 120108 0 21912 GREGOR THEIS CLO 60.00 X 98360 0 67 KRISTI A TEMPLETON GRAYS HARBOR REGIONAL MANAGER 50.00 X 117150 0 21409 1814510 0 1016681 6 0 1 0 MEMBER ACCESS PROCESSING PO BOX 88884 SEATTLE WA 981382884 VISA CARD PROCESSOR 932510 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742233 VISA CARD SERVICES 380060 BUSINESS DATA INC PO BOX 91218 LOS ANGELES CA 900091218 GENERATES AND MAILS MEMBER ACCOUNT STATE 366098 DIEBOLD PO BOX 643543 PITTSBURGH PA 152643543 ATM EQUIPMENT PROVIDER/ATM MAINTENANCE 264362 TYFONE INC 5331 SW MACADAM AVE SUITE 251 PORTLAND OR 97239 DIGITAL BANKING PLATFORM PROVIDER 221228 21 749000 749000 INTEREST ON LOANS 522100 13212001 13212001 FEE INCOME 522100 4894275 4833502 60773 OTHER NON-INTEREST INCOME 522100 1093632 1093632 FOREIGN TRANSACTION FEES 522210 44745 44745 19244653 11864634 11864634 92000 0 82683 92000 -82683 9317 9317 PASSTHROUGH INCOME 901101 187422 187422 MISC OPERATING INCOME 900099 85806 85806 NON-MEMBER INSURANCE 524298 34787 34787 308015 32175619 19234258 327727 11864634 65000 1814510 4967479 1562442 1076909 567229 11430 309374 29710 588109 236364 1036941 386397 583260 77890 210841 450672 1258959 586441 DIVIDENDS 3941182 DEBIT/CREDIT & ATM FEES 2700470 PROVISION FOR LOAN LOSS 1898522 LOAN EXPENSE 483905 882563 25726599 9577008 18054974 551504 551504 1996222 1915767 3427708 1086111 246510654 251568761 1101666 1017097 18337931 9088240 9381864 9249691 302131016 294078801 2855455 3866824 12929423 13464551 590462520 594854081 16647185 9282499 523261215 527533994 539908400 536816493 X 0 0 0 0 50554120 58037588 50554120 58037588 590462520 594854081 X 6449020 2730355 -1695907 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 79548 79548 79548 0 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTES FUNDS ANNUALLY AS PART OF OUR ASSOCIATION DUES TO OUR CREDIT UNION ASSOCIATION (GOWEST FOUNDATION). THOSE FUNDS ARE DIRECTED TOWARD POLITICAL CAMPAIGNS AND LOBBYING EFFORTS. WE DON'T DIRECTLY CONTRIBUTE TO ANY POLITICAL CAMPAIGNS, SO WE INDIRECTLY CHOOSE TO CONTRIBUTE TO THESE EFFORTS. 1749975 1749975 7253397 2342051 4911346 1380372 891266 489106 7954187 5854923 2099264 9249691 INVESTMENT - AVAILABLE-FOR-SALE DEBT SECURITIES 204632737 F INVESTMENT - HELD-TO-MATURITY DEBT SECURITIES 89446064 C 294078801 MEMBER SHARE ACCOUNTS 527533994 527533994 32175619 0 32175619 0 32175619 25726599 0 25726599 0 25726599 0 SCHOLARSHIPS - ALL RECIPIENTS AT $5,000 OR LESS 13 65000 X X 1 1 X X X 0 1 0 BERT FISHER PRESIDENT 1089463 0 0 0 0 0 746717 0 24215 0 1860395 0 0 0 RYAN DRAKE CEO 174635 0 0 0 0 0 155044 0 13898 0 343577 0 0 0 PART I - OTHER ADDITIONAL INFORMATION SCHEDULE J, PART I, QUESTION 4(B) THE CREDIT UNION ENTERED INTO A DEFERRED COMPENSATION AGREEMENT (THE "AGREEMENT") WITH MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM THAT PROVIDES BENEFITS PAYABLE TO THESE EMPLOYEES UNDER TERMS AS OUTLINED IN THE AGREEMENT. BENEFITS ARE ACCRUED AND PAID BEGINNING WITH ATTAINMENT OF RETIREMENT AGE, AS DEFINED IN THE AGREEMENT. ADDITIONALLY, IF SUCH EMPLOYEE BECOMES FULLY DISABLED, ACCRUED BENEFITS ARE IMMEDIATELY PAYABLE. THE BENEFITS ARE SUBJECT TO FORFEITURE IF EMPLOYMENT IS TERMINATED FOR CAUSE, AS DEFINED IN THE AGREEMENT. THE CREDIT UNION HAS RECORDED OTHER LIABILITIES OF APPROXIMATELY $2,153,599 AND $1,807,528 UNDER THE AGREEMENT FOR THE YEAR ENDED DECEMBER 31, 2023 AND 2022, RESPECTIVELY. CLAY GLEB BOARD OF DIRECTORS INSTALLMENT LOAN X 566513 566513 0 1 1 RYAN DRAKE CEO INSTALLMENT LOAN X 107602 103684 0 1 1 SADIE HAWKINS BOARD OF DIRECTORS INSTALLMENT LOAN X 1516 549 0 1 1 ALLEN STRACKE BOARD OF DIRECTORS INSTALLMENT LOAN X 352773 159000 0 1 1 ROBERT WOODS SUPERVISORY COMMITTEE INSTALLMENT LOAN X 56830 49332 0 1 1 MARK NAULT SUPERVISORY COMMITTEE INSTALLMENT LOAN X 57696 52989 0 1 1 ROBERT MILLER SUPERVISORY COMMITTEE INSTALLMENT LOAN X 100000 79912 0 1 1 ANDERSON DUNN BOARD OF DIRECTORS INSTALLMENT LOAN X 1888 1888 0 1 1 KARIN LEAF SUPERVISORY COMMITTEE INSTALLMENT LOAN X 45497 35607 0 1 1 STEPHANIE STEEN COO INSTALLMENT LOAN X 7950 7950 0 1 1 REID MILLER CFO INSTALLMENT LOAN X 43313 28687 0 1 1 1086111 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS 31,596 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS VOTE ANNUALLY TO ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE 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 11B AFTER FORM 990 IS PREPARED BY A CPA FIRM, THE CHIEF FINANCIAL OFFICER REVIEWS THE FORM FOR ACCURACY AND APPROVES ITS SUBMITTAL. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT PROVIDES A CONFLICT OF INTEREST QUESTIONNAIRE AND PERSONAL DISCLOSURE STATEMENT TO ALL EMPLOYEES AND VOLUNTEERS OF OUR COMMUNITY CREDIT UNION. THE CONFLICT OF INTEREST POLICY IS REQUIRED TO BE REVIEWED AND SIGNED OR ACKNOWLEDGED UPON HIRE FOR NEW EMPLOYEES. ACKNOWLEDGMENTS 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 15 THE CREDIT UNION UTILIZES MULTIPLE REGIONAL, NATIONAL, AND INDUSTRY SALARY SURVEYS TO REVIEW AND/OR SET SALARY LEVELS. THE HUMAN RESOURCES DEPARTMENT HAS THE RESPONSIBILITY FOR ADMINISTERING THE CREDIT UNION'S COMPENSATION PROGRAM, WORKING WITH APPROPRIATE SENIOR MANAGEMENT TO ENSURE THAT OUR COMPENSATION SCHEDULE IS IN KEEPING WITH THE POLICY OF THE CREDIT UNION THROUGH A BALANCE OF MARKET COMPETITIVENESS AND INTERNAL EQUITY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ONE-TIME ADJUSTMENT TO UNDIVIDED EARNINGS FOR CECL -1,695,907. FORM 990, PART XII,2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.