2024-10-30T15:24:34+00:00 2023-12-31 910189318 Moss Adams 805 SW Broadway Ste 1400 Portland OR 97205 990 2023-01-01 930163693 SELCO Community Credit Union SELC 5416868000 PO Box 7487 Springfield OR 97475 J Robert Newcomb CEO 5416868000 2024-10-30 true true Wendy Campos P00448102 5032421447 2024-10-30 2023 2024-10-15 13:58:12Z J Robert Newcomb PO Box 7487 Springfield OR 97475 152895348 false X www.selco.org X 1936 OR SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 5 5 537 10 475850 40004 0 0 76522788 98582132 11419515 27677760 16823363 13559267 104765666 139819159 106868 106006 0 37658766 49514910 0 0 34417360 72073439 72182994 121694355 32582672 18124804 2552976468 2727247560 2326074136 2473105006 226902332 254142554 SELCO strives to provide financial services that improve our members' social and economic condition. false false The credit union paid over $39.5 million in dividends to members. Deposit accounts include savings, checking, money market accounts and certificates of deposit. As of December 31, 2023, deposits totaled $2.44 billion. The credit union disbursed $420 million in new loans to members. Loans include auto, home mortgage, home equity, credit card, and business loans. At December 31, 2023, loans outstanding totaled $1.9 billion. During 2023, the credit union provided financial planning services to approximately 3,310 members with assets under management of $374 million. 0 false false false false false false true false true false false false true true false true false false false false false false false false false false true true false true false false false false false false false false true true true true false true 57321 0 true 537 true true true false false false false false true false X 5 5 false false false false true true true true true false true true false true true true true true true false true true X Tiffany Washington 5416868000 PO Box 7487 Springfield OR 97475 Carol Beckley President/Chairperson 3.0 X X 0 0 0 Jim Lindley VP/Vice Chair thru January 2023 2.0 X X 0 0 0 Tony Saxman Vice President/Vice Chairperson 2.0 X X 0 0 0 Curt Heimuller Director 2.0 X 0 0 0 Jim Antonini Director 2.0 X 0 0 0 Kay LeFrancq Director thru January 2023 2.0 X 0 0 0 Tammi Miller Director 2.0 X 0 0 0 J Robert Newcomb CEO and Secretary 60.0 5.0 X 4025290 0 45934 Tiffany Washington EVP Finance & Operations and Treasurer 50.0 X 474963 0 34662 Craig Carpenter SVP Lending & Business Banking 50.0 X 386743 0 34662 Ailene Manion VP Member Experience 45.0 X 246241 0 34153 Kirk Letourneau SVP Information Services and Technology 50.0 X 377577 0 37398 Michael Donaca VP Commercial & Business Banking 45.0 X 259382 0 21053 Michael Sauley VP Consumer Lending 45.0 X 241362 0 30449 Steven McIntire SVP Enterprise Risk & General Counsel 50.0 X 385110 0 34662 6396668 0 272973 85 false true false DAY VENGLEY & ASSOCIATES 109 NW Greenwood Ave Bend OR 97701 ADVERTISING CONSULTANT 1633603 MCKENZIE COMMERCIAL CONTRACTORS INC 865 W SECOND AVE EUGENE OR 97402 GENERAL CONSTRUCTION CONTRACTOR 1216662 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT AND SERVICING 1032182 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 SOFTWARE AND SUPPORT SERVICES 1021178 INFOIMAGE 175 SOUTH HILL DRIVE BRISBANE CA 94005 STATEMENT PRINTING 924699 36 0 INTEREST ON LOANS 522100 84091007 84091007 SERVICE CHARGES & FEES 522100 14491125 14170985 320140 0 0 0 0 98582132 25999181 155710 25843471 65100 50694 14406 0 14406 14406 11942163 2761911 12041660 983835 -99497 1778076 1678579 1678579 Interchange Income 13407768 13407768 Other Revenue 137093 137093 0 0 0 0 13544861 139819159 111806853 475850 27536456 53506 52500 5002254 33093227 3444605 4904342 3070482 97007 677119 565843 2210580 4976719 3804207 3539408 141349 39884065 248030 Federal Excise Tax 505956 Provision for Loan Loss 5371500 Loan Servicing 5783866 UBI Taxes 140615 4127175 121694355 18386555 9282832 56950612 292168073 4546914 4599490 0 1888024561 1866921135 71475416 29632323 43786676 41843093 502234803 472617973 6927177 4352396 0 32119170 35462568 2552976468 2727247560 16921912 22631617 1033177 1137012 0 31500000 0 2276619047 2449336377 2326074136 2473105006 X 226902332 254142554 226902332 254142554 2552976468 2727247560 X 18124804 9284428 -169010 X false true X true true true false true X 13644032 13644032 38055542 13213067 24842475 272288 271599 689 19503554 16147657 3355897 41843093 Members Share and Savings Account 2442878107 Deferred Compensation 6434306 Lease Liability 23964 2449336377 X Schedule D, Part IV, Line 2b Explanation of escrow agreement THE CREDIT UNION HOLDS MORTGAGE ESCROW FUNDS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote FIN 48 (ASC 740) FINANCIAL STATEMENT FOOTNOTE - THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2023 AND 2022. THE CREDIT UNION RECOGNIZES THE ACCRUAL OF INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AS A TAX EXPENSE. DURING THE YEARS ENDED DECEMBER 31, 2023 AND 2022, IT RECOGNIZED NO MATERIAL INTEREST OR PENALTIES. true COLLEGE SCHOLARSHIPS 20 52500 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. NO MONITORING OF CLASSROOM GRANTS OR STUDENT SCHOLARSHIPS IS PERFORMED. X X true true X X false true false J Robert Newcomb CEO and Secretary 2865839 0 1149372 0 10079 0 24750 0 21184 0 4071224 0 0 0 Tiffany Washington EVP Finance & Operations and Treasurer 404382 0 66297 0 4284 0 24750 0 9912 0 509625 0 0 0 Craig Carpenter SVP Lending & Business Banking 321543 0 58809 0 6391 0 24750 0 9912 0 421405 0 0 0 Steven McIntire SVP Enterprise Risk & General Counsel 322064 0 57218 0 5828 0 24750 0 9912 0 419772 0 0 0 Kirk Letourneau SVP Information Services and Technology 312825 0 56852 0 7900 0 24750 0 12648 0 414975 0 0 0 Michael Donaca VP Commercial & Business Banking 217261 0 41247 0 874 0 21053 0 0 0 280435 0 0 0 Ailene Manion VP Member Experience 218734 0 26219 0 1288 0 20353 0 13800 0 280394 0 0 0 Michael Sauley VP Consumer Lending 215072 0 24906 0 1384 0 20537 0 9912 0 271811 0 0 0 Schedule J, Part I, Line 1a Travel for companions THE CREDIT UNION WILL PROVIDE AIRFARE FOR A TRAVEL PARTNER FOR EACH BOARD MEMBER TO ONE NATIONAL CONFERENCE WITHIN THE UNITED STATES PER YEAR. THE AIRFARE IS REPORTED AS TAXABLE INCOME TO THE BOARD MEMBER. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments THE CREDIT UNION PROVIDES TAX GROSS-UP PAYMENTS TO ITS CEO. THESE BENEFITS ARE REPORTED AS TAXABLE INCOME FOR EACH INDIVIDUAL RECEIVING A BENEFIT. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan J ROBERT NEWCOMB PARTICIPATES IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2023. TIFFANY WASHINGTON, CRAIG CARPENTER, STEVE MCINTIRE, AND KIRK LETOURNEAU PARTICIPATE IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2023. Robert Newcomb CEO SPLIT-DOLLAR LIFE INS X 813420 4485334 false true true Robert Newcomb CEO HOME MORTGAGE X 725000 114156 false true true 4599490 Form 990, Part VI, Line 6 Classes of members or stockholders The credit union is member owned. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The board of directors is elected by a vote of the credit union's members. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders Removal of directors must be ratified by a vote of the credit union's members. Form 990, Part VI, Line 11b Review of form 990 by governing body Form 990 is reviewed by senior management. Form 990, Part VI, Line 12c Conflict of interest policy Directors file an annual conflict of interest statement. The credit union reports related party loans on the NCUA Call Report but otherwise relies on self-reporting to monitor ongoing transactions. Potential conflicts would be reviewed by the credit union's legal counsel. Restrictions imposed as the result of an actual conflict of interest depend on the nature of the conflict. There are no known conflicts and no restrictions are currently in effect. Form 990, Part VI, Line 15a Process to establish compensation of top management official The SELCO Community Credit Union Salary Administration Program methodology is designed to attract and retain top talent within the industry. One component of the Program is the utilization of salary survey data which provides guidance in establishing appropriate salary ranges and in determining annual base pay changes. In lieu of relevant survey information, Human Resources compiles publicly available Form 990 data to use for benchmarking. This data includes only state-chartered credit unions since federally-chartered credit unions are excluded from the requirement to file an individual Form 990. The benchmark data is provided to the Board of Directors each January to be used as a general comparison and guidance. Periodically, the Board may commission an external firm to provide benchmark data. During the CEO Performance Evaluation process, the Board meets in Executive Session to discuss CEO performance, review compensation benchmark data, and establish the appropriate compensation level. Compensation changes are documented in a Memo to the Payroll and Personnel file, which summarizes the meeting discussion and memorializes actions. Form 990, Part VI, Line 19 Required documents available to the public Governing documents and the conflict of interest policy may be made available upon request. Annual financial statements are posted on the credit union's website and monthly statements are posted in each branch location. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Passthrough Book/Tax Difference - -169010; Inova LLC PO Box Springfield OR 97475 272430222 Consulting OR 0 0 Selco Community Credit Union Selco Group Inc 925 Harlow Springfield OR 97477 930829603 Insurance Sales OR Selco Community Credit Union C Corporation 301194 3283583 true true false false false false false false false false true false true true false true true true false false Selco Group Incorporated A 65100 FMV/Cash Paid Selco Group Incorporated L 468704 FMV/Cash Paid Selco Group Incorporated Q 468704 FMV/Cash Paid