2024-10-10T17:46:38-07:00 2023-12-31 990 2023-01-01 910565128 SPOKANE TEACHERS CREDIT UNION SPOK 5093261954 1620 N Signal Drive Liberty Lake WA 99019 Lindsey Myhre CFO & EVP 5093261954 2024-10-22 1 2023 2024-10-15 13:58:12Z Lindsey Myhre 1620 N Signal Dr Liberty Lake WA 99019 578324274 0 1269 X www.stcu.org X Credit Union 1934 WA STCU is committed to maximizing the value of every financial relationship through cost-effective financial services consistent with cooperative principles, applicable legislation, and prudent management. STCU serves 275,544 members as of 12/31/23. 9 9 1076 6 418256 167198 59890 52265 222074185 278433339 15560623 25454178 319517 199047 238014215 304138829 0 992500 13630771 48295144 81001805 94608455 0 0 0 84361812 114974300 178994388 258870399 59019827 45268430 5625825339 5788274678 5183529011 5298148668 442296328 490126010 STCU is committed to maximizing the value of every financial relationship through cost-effective financial services consistent with cooperative principles, applicable legislation, and prudent management. STCU serves 275,544 members as of 12/31/23. 0 0 STCU has outstanding loans of $4,783,179,127 at December 31, 2023, representing 203,727 individual loans. STCU offers credit cards; auto, RV, and boat loans; 1st mortgage real estate loans, other real estate loans and lines of credit; and commercial loans. Revenues from loan activities include interest income earned, as well as loan origination and servicing fees. STCU provides share and deposit products, including checking, savings, money market, certificates, and IRA/Keogh accounts. At December 31, 2023, STCU had total share and deposit balances of $4,592,564,852 representing 425,372 individual accounts. STCU paid members dividends on their share and deposit accounts $48,700,897 in 2023. STCU earns various fees on transactions, balances or other financial products as outlined in the membership agreement or published fee schedules. 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 270912 0 1 1076 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X Spokane Teachers Credit Union 5093261954 1620 N Signal Drive Liberty Lake WA 99019 Ezra Eckhardt President and CEO 40 0 X 1184852 0 238092 Lindsey Myhre EVP & CFO 40 0 X 561612 0 111634 Patricia Baughman CDO 40 0 X 510347 0 90360 David Flood CLO 40 0 X X 482270 0 39580 Scott Rabe Senior Vice President 40 0 X 295861 0 95197 Marty Dickinson CMO 40 0 X 300165 0 83968 Patricia Kelly Senior Vice President 40 0 X 306570 0 75297 Brian Scott Chief Risk Officer 40 0 X 287514 0 74284 Joseph Yetter Senior Vice President 40 0 X 275625 0 80738 Brian Read Chief Retail Officer 40 0 X 279295 0 66735 Christopher Severin Senior Vice President 40 0 X 262105 0 75585 Robyn Galtieri Senior Vice President 40 0 X 260670 0 60114 Nicole Tutt Chief Information Security Officer 40 0 X 224525 0 65042 Melanie Shanks Chief Internal Auditor 40 0 X 230658 0 54403 Angela Swenseid Senior Vice President 40 0 X 221140 0 56163 Curt Fuller Director of Commercial Business 40 0 X 228757 0 48148 William Lusk Financial Advisor 40 0 X 224383 0 39322 Douglas Kapelke Commercial Banking Manager 40 0 X 227069 0 31479 Richard Lentz Vice President 40 0 X X 63913 0 36096 Steven Jones Chairman 2 0 X 24043 0 0 Chris Morlan Director 2 0 X 19426 0 0 Justin Botejue Director 2 0 X 17387 0 0 Wally Stanley Director 2 0 X 17387 0 0 Jeff Perkins Director 2 0 X 17387 0 0 Adriane Hanley Vice Chairwoman 2 0 X 17387 0 0 Catherine Brazil Director 2 0 X 17387 0 0 Mike Rennaker Director 2 0 X 17387 0 0 Kathryn Gores Audit Chairwoman 2 0 X 14925 0 0 William DeReu Director 2 0 X 13763 0 0 Kevin Spohr Supervisory Com 2 0 X 9950 0 0 Lisa McCann Supervisory Com 2 0 X 9950 0 0 Dolores Humiston Director 2 0 X 4074 0 0 6627784 0 1422237 181 1 1 0 Smart Source Critical Communications LLC PO BOX 106023 Atlanta GA 30348 Printing and Mailing 2813698 Dee's Landscaping & Lawn Service LLC 76 Verley Dr Superior MT 59872 Landscaping Services 382325 Colormatics LLC 823 W 2nd Ave Spokane WA 99201 Advertising Media Services 212066 Levy Premium Food Service LP 334 W Spokane Falls Blvd Spokane WA 99201 Food Service 140030 KP LLC PO Box 8311 Pasadena CA 91109 Marketing Materials 128010 6 0 52265 0 0 0 0 0 52265 Loan Interest Income 522100 233942915 233942915 0 0 Fees and Service Charges 522100 40970554 40552298 418256 0 Loan Svc and Origination 522100 3519870 3519870 0 0 0 0 0 0 278433339 24097249 24097249 0 0 0 0 0 0 0 0 0 0 717671 0 518624 0 199047 0 199047 199047 0 0 0 275023750 0 273666821 0 1356929 1356929 1356929 0 0 0 0 304138829 303668308 418256 0 992500 0 0 48295144 6482160 0 63287206 5017641 13888148 5933300 0 162476 156890 0 0 0 2958877 7184818 2924470 10458826 0 6220609 0 0 1407750 27220864 0 6494625 0 Processing Expense 13480291 Provision for Loan Loss 25367423 Loan Servicing Expense 3236509 Postage and Shipping 1939249 5760623 258870399 0 0 0 29795027 23163042 212720335 237220775 0 0 53747127 55789770 16236792 46152007 0 0 4616935385 4741775714 0 0 18944668 14564609 160564888 67891565 88866131 92673323 454761342 441271497 26654200 31294900 0 0 14294875 13216350 92869457 91152691 5625825339 5788274678 55729685 62261397 0 0 791637 526918 0 0 6582603 6783174 0 0 529253565 636012327 0 0 4591171521 4592564852 5183529011 5298148668 X 0 0 0 0 442296328 490126010 442296328 490126010 5625825339 5788274678 X 45268430 6376616 0 0 0 -3815364 X 1 X 1 X 1 0 29019 0 29019 0 29019 1 GOWEST 18000 International Blvd Suite 1102 SeaTac WA 98188 911649328 15119 0 Mark Mullet For Governor Political Campaign PO BOX 2072 Issaquah WA 98027 931498694 2400 0 Citizens For A Safer Benton County C/O PAT HOLTEN 1522 HAINS AVE RICHLAND Richland WA 99354 933159753 1500 0 Alliance For A Competitive Economy of Greater Spokane Inc 801 W RIVERSIDE AVE SUITE 100 Spokane WA 99201 910418800 10000 0 Schedule C, Part I-A, Line 1 STCU has a political action policy and may provide financial support on a non-partisan basis to individuals who support the credit union movement in Washington and Idaho State legislative offices, Washington and Idaho State elected executive positions, or Washington and Idaho State Supreme Court Justices. 0 0 0 20981667 20981667 0 73293322 22767868 50525454 0 3484073 1686627 1797446 0 58828100 41931019 16897081 0 3977726 1506051 2471675 92673323 0 Deposit Accounts - Money Market 1342270662 Deposit Accounts - Share Certificates 931421093 Deposit Accounts - Checking Accounts 1224554675 Deposit Accounts - Regular Share Accounts 958877847 Deposit Accounts - IRA Shares 68800189 Deposit Accounts - IRA Certificates 66640386 4592564852 X 304876001 0 0 0 737172 737172 304138829 0 0 0 304138829 259060194 0 0 0 189795 189795 258870399 0 0 0 258870399 Schedule D, Part X, Line 2 The Credit Union is state chartered and federally tax-exempt under the Internal Revenue Code Section 501(c)(14), except to the extent of unrelated business income. A tax-exempt organization information return and unrelated business income tax return are filed annually with the Internal Revenue Service. The Credit Union recognizes the tax benefit from uncertain tax positions, if any, only if it is more likely than not that the tax positions will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Credit Union recognizes interest accrued and penalties related to unrecognized tax benefits as an administrative expense. The Credit Union had no unrecognized tax benefits at December 31, 2023 and 2022, and during the years ended December 31, 2023 and 2022, the Credit Union recognized no interest and penalties. Schedule D, Part XI, Line 2d Employee benefit plan gain $218,548 and rental income adjustment of $518,624 Schedule D, Part XII, Line 2d Adjustment for rental expense 1 Innovia Foundation 818 W Riverside Ave 650 Spokane WA 99201 910941053 501(c)(3) 50000 Wildfire Emergency Response Fund Innovia Foundation 818 W Riverside Ave 650 Spokane WA 99201 910941053 501(c)(3) 520000 STCU's Here for Good Foundation Endowment Innovia Foundation 818 W Riverside Ave 650 Spokane WA 99201 910941053 501(c)(3) 422500 STCU's Here for Good Foundation 1 0 Schedule I, Part I, Line 2 Members of STCU's Community Engagement and Impact team monitors the use of grant funds by recipient organizations to ensure they were utilized for the intended purpose. X 1 1 X X X X X 0 0 0 Christopher Severin Senior Vice President 212798 0 44450 0 4857 0 59179 0 75585 0 396869 0 0 30713 Brian Read Chief Retail Officer 257777 0 17156 0 4362 0 40500 0 66735 0 386530 0 0 0 David Flood CLO 267171 0 61855 0 153244 0 32941 0 39580 0 554791 0 0 42775 Lindsey Myhre EVP & CFO 464458 0 92597 0 4557 0 102782 0 111634 0 776028 0 0 63037 Joseph Yetter Senior Vice President 223516 0 47489 0 4620 0 62080 0 80738 0 418443 0 0 32918 Patricia Kelly Senior Vice President 249999 0 51609 0 4962 0 66445 0 75297 0 448312 0 0 35773 Ezra Eckhardt President and CEO 871667 0 300304 0 12880 0 229241 0 238092 0 1652184 0 0 188693 Patricia Baughman CDO 302723 0 62939 0 144685 0 78801 0 90360 0 679508 0 0 43538 Marty Dickinson CMO 244978 0 50401 0 4785 0 67562 0 83968 0 451694 0 0 34511 Angela Swenseid Senior Vice President 188556 0 27806 0 4779 0 47312 0 56163 0 324616 0 0 0 Brian Scott Chief Risk Officer 238030 0 45164 0 4319 0 65432 0 74284 0 427229 0 0 30600 Robyn Galtieri Senior Vice President 214285 0 41362 0 5023 0 58314 0 60114 0 379098 0 0 27783 Scott Rabe Senior Vice President 240704 0 49577 0 5580 0 68962 0 95197 0 460020 0 0 33750 Richard Lentz Vice President 34924 0 28284 0 705 0 34620 0 36096 0 134629 0 0 28284 Curt Fuller Director of Commercial Business 196965 0 31618 0 175 0 29490 0 48148 0 306396 0 0 0 Melanie Shanks Chief Internal Auditor 198639 0 30909 0 1110 0 45552 0 54403 0 330613 0 0 21444 Nicole Tutt Chief Information Security Officer 188830 0 30231 0 5464 0 46036 0 65042 0 335603 0 0 0 William Lusk Financial Advisor 222637 0 0 0 1746 0 22917 0 39322 0 286622 0 0 0 Douglas Kapelke Commercial Banking Manager 154147 0 71772 0 1150 0 21427 0 31479 0 279975 0 0 0 Steven Jones Chairman 24043 0 0 0 0 0 0 0 0 0 24043 0 0 0 Chris Morlan Director 19426 0 0 0 1513 0 0 0 0 0 20939 0 0 0 Justin Botejue Director 17387 0 0 0 835 0 0 0 0 0 18222 0 0 0 Wally Stanley Director 17387 0 0 0 0 0 0 0 0 0 17387 0 0 0 Jeff Perkins Director 17387 0 0 0 1796 0 0 0 0 0 19183 0 0 0 Dolores Humiston Director 4074 0 0 0 0 0 0 0 0 0 4074 0 0 0 Adriane Hanley Vice Chairwoman 17387 0 0 0 0 0 0 0 0 0 17387 0 0 0 Catherine Brazil Director 17387 0 0 0 0 0 0 0 0 0 17387 0 0 0 Mike Rennaker Director 17387 0 0 0 0 0 0 0 0 0 17387 0 0 0 Kathryn Gores Audit Chairwoman 14925 0 0 0 1277 0 0 0 0 0 16202 0 0 0 Kevin Spohr Supervisory Com 9950 0 0 0 0 0 0 0 0 0 9950 0 0 0 Lisa McCann Supervisory Com 9950 0 0 0 659 0 0 0 0 0 10609 0 0 0 William DeReu Director 13763 0 0 0 0 0 0 0 0 0 13763 0 0 0 Schedule J, Part I, Line 1a The Credit Union will reimburse board members for travel for companions to conferences. These reimbursements are treated as taxable events and included on the board member's year-end tax forms. David Flood CLO Split Dollar Life Policy X 4684347 4857184 0 1 1 Marty Dickinson CMO Split Dollar Life Policy X 3068893 3182125 0 1 1 Lindsey Myhre EVP & CFO Split Dollar Life Policy X 4939239 5122020 0 1 1 Ezra Eckhardt President & CEO Split Dollar Life Policy X 29089233 30247835 0 1 1 43409164 Form 990, Part VI, Section A, Line 6 STCU is a state chartered credit union organized under the provisions of the Washington Credit Union Act. The membership base of STCU consists of people who live, work, worship, or attend school in the State of Washington or counties in Northern Idaho. STCU members elect the board of directors and the supervisory committee members. Form 990, Part VI, Section A, Line 7a STCU members elect directors and the supervisory committee. Each serves a three year term. The nine members of the board of directors set direction and policy for STCU and hire, evaluate and set compensation for the president of STCU. The supervisory committee consists of three members who are responsible for ensuring the completion of required audits and member account verification. Elections for both directors and supervisory committee member positions are held each March. Form 990, Part VI, Section B, Line 11b The form 990 is prepared by the Technical Accountant. It is reviewed by the VP - Director of Accounting and Finance, Chief Financial Officer/Executive Vice President, and by the Chief Executive Officer, the form 990 is reviewed with the board of directors prior to filing. Form 990, Part VI, Section B, Line 12c Members of the board of directors, supervisory committee and any affiliate members will be required to review the Code of Ethics and Personal Conduct Policy and sign the acknowledgement and agree on the Conflict of Interest Disclosure form on an annual basis. These will be reviewed by the board chair and vice chair. Any conflict of interest concerns will be reviewed by the board executive committee. In the event a conflict exists in the judgement of the board executive committee, the board chair or vice chair and the board member will take appropriate steps to eliminate the conflict. Members of the executive management are required to complete on an annual basis a Conflict of Interest Disclosure form. The chair and vice chair of the board of directors and the CEO are responsible to review the forms for any potential conflict of interest. In the event a conflict exists, the chair, vice chair, and CEO and the employee will take appropriate steps to resolve the conflict. Form 990, Part VI, Section B, Line 15 The board of directors is responsible for determining the compensation of the CEO. The executive compensation committee of the board of directors engages an outside compensation consultant to review the compensation of the CEO, provide data of comparable compensation for other similarly qualified position in the credit union or financial services industry and to assist in the review and/or development of the compensation philosophy. The executive compensation committee recommends the total compensation package for the CEO to the board of directors for approval. In order to attract and retain quality employees, STCU is committed to paying salaries which are non discriminatory equitable, and competitive with the salaries paid by other companies in our industry and surrounding area. The Human Resources department staff participates in a variety of annual salary surveys for other executive manager positions, key employees and all other staff positions and submits recommendations for any compensation adjustments to the CEO or the executive management team for approval and effective date of changes. Positions are evaluated to determine relevant job titles, job descriptions and salary ranges. Form 990, Part VI, Section C, Line 19 Governing documents, policies and financial statements may be requested by writing to Ezra Eckhardt, CEO, STCU, 1620 N Signal Dr, Liberty Lake, WA 99019. Form 990, Part XI, Line 9 CECL one-time adjustment to retained earnings -$4,155,258, adjustment to equity $11,064, adjustment for rental expense $328,830. AgWest Financial LLC 1620 N Signal Dr Liberty Lake WA 99019 851742759 Agricultural Lending WA Spokane Teachers Credit Union S 1 1 Columbia Inland Financial Corp 1620 N Signal Dr Liberty Lake WA 99019 911499278 Escrow services WA Spokane Teachers Credit Union S 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 AgWest Financial LLC d 2109657 Outstanding loan balances AgWest Financial LLC b 4650000 Total capital contributions from STCU to AgWest Extension filed and accepted electronically.