2022-06-27T16:34:43-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2021-01-01 910639210 O BEE CREDIT UNION CRED 3609430740 649 WOODLAND SQUARE LOOP SE 100 LACEY WA 98503 DANIEL HILDRETH VP OF FINANCE 3609430740 2022-06-22 1 DANIEL HILDRETH 999009999 MARY C GREEN P00447183 6022662248 2022-06-22 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JAMES COLLINS 649 WOODLAND SQUARE LOOP SE 100 LACEY WA 98503 27004979 0 X WWW.OBEE.COM X 1955 WA CREDIT UNION IN THE STATE OF WASHINGTON. PROVIDE FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 9 9 156 15 40785 0 0 0 23516063 26408285 82268 231732 0 0 23598331 26640017 22750 21000 1387915 821057 8929646 9468381 0 0 0 11164963 9331745 21505274 19642183 2093057 6997834 421638694 467137296 392848663 431349431 28790031 35787865 X THE PURPOSE OF THE CREDIT UNION IS TO OPERATE AS A COOPERATIVE, NONPROFIT ASSOCIATION, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. 0 0 THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, SHARE CERTIFICATES, CONSUMER AND COMMERCIAL LOANS, AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 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 7701 0 156 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 0 1 0 0 1 1 1 1 1 1 1 1 1 0 0 X DANIEL HILDRETH 3609430740 649 WOODLAND SQUARE LOOP SE STE 100 LACEY WA 98503 JAMES COLLINS CEO/TREASURER 40.00 X 291308 0 24385 JEREMY FRANKLIN MORTGAGE LOAN OFFICER 40.00 X 278235 0 15840 JOLEE ROBERTS-YUNKER MORTGAGE LOAN OFFICER 40.00 X 281241 0 8453 MICHAEL LINDSEY MORTGAGE LOAN OFFICER 40.00 X 222870 0 17685 TIMOTHY TIMMER COMMERCIAL LOAN OFFICER 40.00 X 191593 0 12141 DAVID ECHTLE CHIEF LENDING OFFICER 40.00 X 171033 0 23421 JENNIFER ROBERTS-ECHTLE CHIEF OPERATIONS OFFICER 40.00 X 154219 0 26442 LEE WOJNAR VP OF MARKETING 40.00 X 139541 0 26969 DANIEL HILDRETH VP OF FINANCE 40.00 X 134356 0 19678 WILFORD SAUNDERS CHAIR 4.00 X X 0 0 0 JASON GORDON 1ST VICE CHAIR 4.00 X X 0 0 0 PRABAKARAN MANOHARAN 2ND VICE CHAIR 4.00 X X 0 0 0 MIRIAM BAUSCH DIRECTOR 4.00 X 0 0 0 STEVE BLANKENSHIP DIRECTOR 4.00 X 0 0 0 DIANE BRANSON-UNWIN DIRECTOR 4.00 X 0 0 0 JOY JOHNSTON DIRECTOR 4.00 X 0 0 0 CHRISTY KRIEGSMAN DIRECTOR (THRU 1/21) 4.00 X 0 0 0 JERRY MURPHY DIRECTOR 4.00 X 0 0 0 PHIL WAYT DIRECTOR (THRU 1/21) 4.00 X 0 0 0 JUDITH WEEKS DIRECTOR 4.00 X 0 0 0 1864396 0 175014 13 0 1 0 FIS 601 RIVERSIDE AVENUE JACKSONVILLE FL 32204 CARD PROCESSOR 1382018 JACK HENRY AND ASSOCIATES 663 W HIGHWAY 60 MONETT MO 65708 DATA PROCESSING 326181 INSIGHT INVESTMENT HOLDINGS 611 ANTON BLVD SUITE 700 COSTA MESA CA 92626 DATA PROCESSING 223181 THURSTON COUNTY TITLE 105 E 8TH AVENUE OLYMPIA WA 98501 REAL ESTATE TITLE SERVICES 219970 COOK SECURITY GROUP 6501 E TRENT AVENUE SUITE I SPOKANE VALLEY WA 99212 ATM AND EQUIPMENT SERVICING 183652 5 LOAN INTEREST 522100 15207806 15207806 OTHER NON-INTEREST INCOME 522100 4400750 4400750 INTERCHANGE INCOME 522100 3489792 3489792 FEES AND CHARGES 522100 3309937 3269152 40785 26408285 242729 242729 55562 298403 78962 286000 -23400 12403 -10997 -10997 26640017 26367500 40785 231732 21000 821057 844841 5379193 642655 2011810 589882 57255 74241 596959 381414 785215 776634 1491744 21189 -9968 17726 693019 69691 CREDIT CARD EXPENSES 1805548 OPERATING EXPENSES 1098278 LENDING EXPENSES 781171 LOAN EXPENSES 629737 61892 19642183 8596329 7679126 80977936 85704848 772671 277794 316292433 347011140 459277 751999 15981205 8409373 8474078 7571832 1143705 1086877 4922265 17053680 421638694 467137296 6401969 6438824 307261 362299 3000000 2000000 383139433 422548308 392848663 431349431 X 0 0 0 0 28790031 35787865 28790031 35787865 421638694 467137296 6997834 0 X 0 1 X 1 0 1099995 1099995 8065263 3770565 4294698 6815947 4638808 2177139 7571832 MEMBER SHARE AND DEPOSIT ACCOUNTS 422548308 422548308 X 26627614 0 26627614 12403 12403 26640017 19629780 -12403 -12403 19642183 0 19642183 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS MOVED FROM FUNCTIONAL EXPENSES TO STMT OF REVENUE 12,403. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS MOVED FROM FUNCTIONAL EXPENSES TO STMT OF REVENUE -12,403. 1 COLLEGE SCHOLARSHIPS 7 21000 N/A N/A PART I, LINE 2: A COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS SUBMITTED APPLICATIONS AND SELECTS RECIPIENTS. RECIPIENTS ARE AWARDED ON THE BASIS OF NEED, WITH CONSIDERATION GIVEN TO THE STUDENT'S AND THEIR FAMILY'S RESOURCES AND THE RESEARCH AND PLANNING DEMONSTRATED BY THE APPLICANT. WHEN THE RECIPIENTS HAVE BEEN DETERMINED, SCHOLARSHIP FUNDS ARE PAID DIRECTLY TO THE COLLEGE OR UNIVERSITY THE RECIPIENT IS ATTENDING. X 1 1 X X X 0 1 0 JAMES COLLINS CEO/TREASURER 267919 0 23389 0 0 0 11618 0 12767 0 315693 0 0 0 JEREMY FRANKLIN MORTGAGE LOAN OFFICER 29261 0 248974 0 0 0 8199 0 7641 0 294075 0 0 0 JOLEE ROBERTS-YUNKER MORTGAGE LOAN OFFICER 30486 0 250755 0 0 0 6991 0 1462 0 289694 0 0 0 MICHAEL LINDSEY MORTGAGE LOAN OFFICER 18163 0 204707 0 0 0 5315 0 12370 0 240555 0 0 0 TIMOTHY TIMMER COMMERCIAL LOAN OFFICER 90698 0 100895 0 0 0 0 0 12141 0 203734 0 0 0 DAVID ECHTLE CHIEF LENDING OFFICER 155243 0 7474 0 8316 0 15851 0 7570 0 194454 0 8316 0 JENNIFER ROBERTS-ECHTLE CHIEF OPERATIONS OFFICER 145717 0 1500 0 7002 0 14072 0 12370 0 180661 0 7002 0 LEE WOJNAR VP OF MARKETING 123960 0 6438 0 9143 0 13058 0 13911 0 166510 0 9143 0 DANIEL HILDRETH VP OF FINANCE 121703 0 6083 0 6570 0 12108 0 7570 0 154034 0 6570 0 PART I, LINE 1A TRAVEL FOR COMPANIONS IS PAID FOR CERTAIN MEMBERS OF MANAGEMENT AND IS INCLUDED IN THE EMPLOYEE'S W-2. PART I, LINE 4B THE CREDIT UNION PARTICIPATES IN A 457(F) RETIREMENT PLAN FOR CERTAIN OFFICERS AND KEY EMPLOYEES. THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS TO THIS PLAN DURING 2021: DAVID ECHTLE - $8,969 JENNIFER ROBERTS-ECHTLE- $8,394 LEE WOJNAR - $7,014 DANIEL HILDRETH - $7,014 THE FOLLOWING EMPLOYEES RECEIVED DISTRIBUTIONS FROM THIS PLAN DURING 2021: DAVID ECHTLE - $8,316 JENNIFER ROBERTS-ECHTLE- $7,002 LEE WOJNAR - $9,143 DANIEL HILDRETH - $6,570 DANIEL HILDRETH VP OF FINANCE AUTO X 18505 1308 0 1 1 DANIEL HILDRETH VP OF FINANCE AUTO X 24491 15766 0 1 1 DANIEL HILDRETH VP OF FINANCE CREDIT CARD X 10000 160 0 1 1 DANIEL HILDRETH VP OF FINANCE CREDIT CARD X 10000 108 0 1 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER CREDIT CARD X 6986 4444 0 1 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER CREDIT CARD X 35000 5823 0 1 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER HELOC X 190183 144427 0 1 1 JAMES COLLINS CHIEF EXECUTIVE OFFICER HELOC X 114000 61446 0 1 1 JENNIFER ROBERTS-ECHTLE CHIEF OPERATING OFFICER CREDIT CARD X 8385 1997 0 1 1 LEE WOJNAR VP OF MARKETING AUTO X 35422 33970 0 1 1 LEE WOJNAR VP OF MARKETING CREDIT CARD X 10118 3475 0 1 1 DAVID ECHTLE CHIEF LENDING OFFICER CREDIT CARD X 10304 85 0 1 1 DAVID ECHTLE CHIEF LENDING OFFICER HELOC X 20406 4785 0 1 1 277794 FORM 990, PART VI, SECTION A, LINE 2 JENNIFER ROBERTS-ECHTLE AND DAVID ECHTLE HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS OPEN TO ANYONE WHO LIVES OR WORKS IN WASHINGTON STATE AS WELL AS BEING RELATED TO SOMEONE WHO IS A MEMBER OF O BEE AND IS IN GOOD STANDING, AND WHO LIVES OR WORKS IN WASHINGTON STATE. AN INDIVIDUAL IS CONSIDERED A MEMBER IF THEY HAVE A SHARE OR LOAN ACCOUNT WITH THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH CREDIT UNION MEMBER MAY VOTE FOR MEMBERS OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, DIRECTORS AND KEY EMPLOYEES MUST SIGN A CODE OF ETHICS THAT INCLUDES CONFLICT OF INTEREST GUIDELINES AND INDICATE DISCLOSURE OF ANY CONFLICTS OF INTEREST. THIS IS MONITORED VIA REVIEW OF RESPONSES TO THE ANNUAL CODE OF ETHICS DISCLOSURE. IF THERE ARE ANY CHANGES TO THE PERSON'S EMPLOYMENT OR EXTRA-CURRICULAR ACTIVITIES, THEY ARE REQUIRED TO REPORT THAT TO HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15A CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS WITH THE ASSISTANCE OF AN OUTSIDE CONSULTANT AND INDUSTRY SALARY DATA AND IS DOCUMENTED IN THE CEO'S PERSONNEL FILE. OTHER OFFICERS OR KEY EMPLOYEE'S SALARIES ARE DETERMINED BY THE CEO AND VP OF HR USING INDUSTRY SALARY DATA AND IS DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE 5300 CALL REPORT.