2023-05-12T14:29:03-05:00 2022-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2022-01-01 930444581 OREGON STATE CREDIT UNION OREG 5417144000 4800 SW RESEARCH WAY CORVALLIS OR 97333 RICHARD HEIN PRESIDENT/CEO 5417144000 2023-05-11 1 RICHARD HEIN 999009999 0 JOHN J MURNANE JR P03021572 3052328272 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RICHARD HEIN 4800 SW RESEARCH WAY CORVALLIS OR 97333 124856640 0 X WWW.OREGONSTATECU.COM X 1954 OR PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 9 0 350 0 339607 0 0 0 61148525 69774716 6207138 8371506 14613237 16403588 81968900 94549810 242524 279107 0 0 27221670 28326056 0 0 0 20669908 34475212 48134102 63080375 33834798 31469435 2088594766 2140153244 1878704355 1960727457 209890411 179425787 PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 0 0 THE CREDIT UNION CONTINUED TO FULFILL ITS EXPEMPT 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, 2022, THE CREDIT UNION HAD APPROXIMATELY 138,958 MEMBERS, OF WHICH 67,703 MEMBERS HAVE ACTIVE LOANS. THE TOTAL NUMBER OF DEPOSIT AND SHARE ACCOUNTS WAS 285,229 AND THE TOTAL NUMBER OF LOANS OUTSTANDING WAS 88,404. 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 23159 0 1 350 1 1 1 0 0 0 0 0 0 0 0 0 X 9 0 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 NADINE DAVISON DIRECTOR 1.00 X 16000 0 0 TIM ROCAK DIRECTOR 1.00 X 14132 0 0 JAY CONROY DIRECTOR 1.00 X 14000 0 0 MIKE GREEN DIRECTOR 1.00 X 14000 0 0 THOMAS ELZINGA DIRECTOR 1.00 X 14000 0 0 SHANNON GRINDY DIRECTOR 1.00 X 14859 0 0 ANA LUCIA FONSECA TAPIA DIRECTOR 1.00 X 16000 0 0 REBECCA BADGER DIRECTOR 1.00 X 14000 0 0 KELLEY KAISER BOARD CHAIRPERSON 1.00 X 20000 0 0 JAIMIE HUGHES SUPERVISORY COMMITTEE 1.00 X 7000 0 0 JONATHAN SASSAMAN SUPERVISORY COMMITTEE 1.00 X 10000 0 0 MARY BETH ALTMANN HUGHES SUPERVISORY COMMITTEE 1.00 X 7000 0 0 RICHARD HEIN PRESIDENT/CEO 40.00 X 866885 0 48743 RHONDA HEILE-BROWN EXECUTIVE VP/COO 40.00 X 917253 0 46026 CRAIG COLE EVP/CIO 40.00 X 1024327 0 46929 LAURIE ROE EVP/CCXO 40.00 X 251810 0 41883 BOBBIE WARNER EVP/CFO 40.00 X 305173 0 46129 JAMES GIBSON SR VP BRANCH SERVICES 40.00 X 243390 0 42460 BRANNEN JAMES LEE SVP GENERAL COUNSEL 40.00 X 228366 0 37426 JOSHUAH WHISENHUNT SR VP FINANCIAL SERVICES 40.00 X 223655 0 36217 TIFFANY SHIRLEY VP OF RISK MANAGEMENT 40.00 X 181992 0 35093 MICHELLE POTURICH EXT MORG LN OFFCR 40.00 X 185214 0 31009 JAIMY HERBERT EXT MORG LN OFFICER 40.00 X 193937 0 32173 DANIEL N ECHEVERRI EXT MORG LN OFFCR 40.00 X 178134 0 30904 PAIGE JACKSON VP OF HUMAN RESOURCES 40.00 X 197537 0 33137 5158664 0 508129 51 0 1 0 PSCU FINANCIAL SERVICES DDA 560 CARILLON PKWY ST PETERSBURG FL 33716 TRANSACTION PROCESSING 1755536 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT PROCESSING 1375760 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 VISA DEBIT AND CREDIT PROCESSING 1338666 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING 1322522 CORELATION INC 2305 HISTORIC DECATUR RD SAN DIEGO CA 92106 CORE SOFTWARE SERVICE 991636 46 INCOME ON LOANS 522100 63760756 63760756 FEES AND CHARGES 522100 5674353 5674353 UNRELATED BUSINESS INC 520000 339607 339607 69774716 8417366 8417366 68409 0 68409 68409 68409 30260890 80 30305722 1108 -44832 -1028 -45860 -45860 INTERCHANGE INCOME 522100 12851067 12851067 OTHER INCOME 522100 2491884 2491884 MORTGAGE SERVICING RIG 522100 874324 874324 117904 117904 16335179 94549810 94210203 339607 0 X 254107 25000 4567663 14631785 2118068 5240862 1767678 6064 133834 75735 6350682 1207737 3098720 1840009 3208342 53331 156612 3370063 1977871 144335 PROVISION FOR LOAN LOSS 9159303 OTHER LOAN EXPENSES 3330295 ATM EXPENSES 223844 OPERATING FEES 138435 63080375 14827125 17394783 125897948 24083361 594943 974981 1158868348 1368367779 1680361 2199060 61847705 21430574 40256530 40417131 692390210 598569069 7810772 11376366 46268529 76770714 2088594766 2140153244 23059952 28401884 3023490 2217132 43355967 1852620913 1886752474 1878704355 1960727457 X 0 0 0 0 0 0 209890411 179425787 2088594766 2140153244 X 31469435 -62194613 260554 X X 0 1 X 1 0 0 1 X 8773257 8773257 39156597 10826728 28329869 13917851 10603846 3314005 40417131 SHARE DRAFTS 527982403 SHARES 490912706 MONEY MARKET ACCOUNTS 731959229 IRA/HEALTH SAVINGS ACCOUNTS 29831564 SHARE AND IRA CERTIFICATES 106066572 1886752474 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 LINN-BENTON COMMUNITY COLLEGE FOUNDATION 6500 PACIFIC BLVD SW ALBANY OR 97321 237212073 501(C)(3) 12500 0 SCHOLARSHIP SUPPORT OREGON STATE UNIVERSITY FOUNDATION 850 SW 35 STREET CORVALLIS OR 97333 936022772 501(C)(3) 10000 0 SCHOLARSHIP SUPPORT OREGON HEALTH AND SCIENCE UNIVERSITY FOUNDATION PO BOX 29017 PORTLAND OR 97296 237083114 501(C)(3) 31089 0 OPERATIONAL SUPPORT HOME LIFE 2068 NW FILMORE AVE CORVALLIS OR 97339 237230042 501(C)(3) 7500 0 OPERATIONAL SUPPORT WEST OREGON UNIVERSITY FOUNDATION 345 MONMOUTH AVE N MONMOUTH OR 97361 936033807 501(C)(3) 20500 0 OPERATIONAL SUPPORT AND SCHOLARSHIPS GARTEN SERVICES 500 HAWTHORNE AVE SE SALEM OR 97301 930582004 501(C)(3) 6000 0 OPERATIONAL SUPPORT 6 0 SCHOLARSHIPS 10 25000 BOOK PART I, LINE 2: EACH SCHOLARSHIP RECIPIENT MUST PROVIDE PROOF OF FALL ENROLLMENT AT COLLEGE OR UNIVERSITY. THE SELECTION AND AWARD PROCESS IS DOCUMENTED IN CREDIT UNION'S POLICIES/PROCEDURES. RECORDS OF SELECTION IS MAINTAINED FOR A MINIMUM OF THREE YEARS. X X X X 1 1 0 CRAIG COLE EVP/CIO 229079 0 49248 0 746000 0 34040 0 12889 0 1071256 0 746000 0 RHONDA HEILE-BROWN EXECUTIVE VP/COO 342690 0 68985 0 505578 0 35837 0 10189 0 963279 0 500000 0 RICHARD HEIN PRESIDENT/CEO 702002 0 151500 0 13383 0 35838 0 12905 0 915628 0 0 0 BOBBIE WARNER EVP/CFO 255389 0 49784 0 0 0 35294 0 10835 0 351302 0 0 0 LAURIE ROE EVP/CCXO 208074 0 43736 0 0 0 29026 0 12857 0 293693 0 0 0 JAMES GIBSON SR VP BRANCH SERVICES 209637 0 33753 0 0 0 29612 0 12848 0 285850 0 0 0 BRANNEN JAMES LEE SVP GENERAL COUNSEL 197575 0 30791 0 0 0 26861 0 10565 0 265792 0 0 0 JOSHUAH WHISENHUNT SR VP FINANCIAL SERVICES 193749 0 29906 0 0 0 26331 0 9886 0 259872 0 0 0 PAIGE JACKSON VP OF HUMAN RESOURCES 174986 0 22551 0 0 0 23158 0 9979 0 230674 0 0 0 JAIMY HERBERT EXT MORG LN OFFICER 190587 0 3350 0 0 0 22845 0 9328 0 226110 0 0 0 TIFFANY SHIRLEY VP OF RISK MANAGEMENT 160027 0 21965 0 0 0 22460 0 12633 0 217085 0 0 0 MICHELLE POTURICH EXT MORG LN OFFCR 183664 0 1550 0 0 0 21815 0 9194 0 216223 0 0 0 DANIEL N ECHEVERRI EXT MORG LN OFFCR 173909 0 4225 0 0 0 20931 0 9973 0 209038 0 0 0 PART I, LINES 4A-B B HUMPHREY-ANDERSON: $40,000 R. HEIN: $56,000 SOME 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, 2022: R. HEIN, 457F SERP $28,927 R. HEILE-BROWN, 457F SERP $57,592 C. COLE, 457F SERP $61,324 J. GIBSON, 457F SERP $41,046 L. ROE, 457F SERP $31,896 J. BRANNEN, 457F SERP $6,154 J. WHISENHUNT, 457F SERP $11,054 THE FOLLOWING MEMBERS OF THE EXECUTIVE LEADERSHIP RECEIVED PAYOUTS RELATED TO THEIR NON-QUALIFIED RETIREMENT PLANS DURING THE YEAR ENDED DECEMBER 31, 2022: C. COLE, TAXES PAID ON VESTED PORTION OF 457F SERP $746,000 (ADDITIONAL $368,375 DISBURSED FROM CURRENT EXPENSE TO COVER TAXES) R. HIELE-BROWN, TAXES PAID ON VESTED PORTION OF 457F SERP $500,000 (ADDITIONAL $246,750 DISBURSED FROM CURRENT EXPENSE TO COVER TAXES) 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 - DEBIT CARD PROCESSING 2,105,924. OUTSIDE SERVICES - STATEMENT PROCESSING 1,096,327. OUTSIDE SERVICES - CALL CENTER SUPPORT 700,876. OUTSIDE SERVICES - NETWORK 345,369. OUTSIDE SERVICES - PROCESSING ATM & DEBIT PIN 267,052. OUTSIDE SERVICES - UNDERWRITING CUDL 276,375. OUTSIDE SERVICES - HR PAYROLL ACTUARIAL 187,786. OUTSIDE SERVICES - BOARD CONSULTING 232,178. OUTSIDE SERVICES - CHECK PROCESSING 126,214. OUTSIDE SERVICES - COURIER 116,156. OUTSIDE SERVICES - VISA STATEMENT PROCESSING 129,158. OUTSIDE SERVICES - NEW ACCOUNT RECORD SEARCH 127,049. OUTSIDE SERVICES - OTHER 640,218. FORM 990, PART XI, LINE 9: UNREALIZED HOLDING GAINS ON POST RETIREMENT BENEFIT ASSETS 260,554. 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 219929 194801 OREGON STATE CREDIT UNION