2022-06-13T13:08:30-07:00 2019-12-31 990 2019-01-01 910564946 CREDIT UNIONS IN THE STATE OF WASHINGTON PrimeSource Credit Union CRED 5098386157 PO BOX 48275 Spokane WA 992281275 Annettee Babb CEO 5092328906 2022-02-09 2019 2022-09-23 18:48:47Z X Annettee BAbb 9707 N Nevada St Spokane WA 99218 4887073 0 1269 X primesourcecu.org X 1935 WA Credit Union operated without profit for mutual purposes 7 7 34 10 0 0 0 0 3947593 4179319 173299 396794 289215 310960 4410107 4887073 0 0 481750 730969 1275482 1338741 0 0 0 2119117 2321143 3876349 4390853 533758 496220 81974912 83575479 473903 607630 81501009 82967849 Credit Union operated without profit for mutual purposes 0 0 4390853 0 4887073 Credit Union Programs: Providing financial services to 7,345 members. These include, but are not limited to, Loans and Savings programs. The services are provided by 25 employees and 10 non-paid volunteers this is not used This is not used 0 0 0 4390853 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 34 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 WA X PrimeSource Credit Union 5098386157 PO BOX 48275 Spokane WA 992281275 Margaret Burkholz Executive Director/CEO 40 0 X X X 185797 0 0 Annettee Babb Vice President - Operations 40 0 X 102964 0 0 Deanna Hanley Vice President - Lending 40 0 X 78450 0 0 Jeff Hansen Board member - Vice Chair 1 0 X 0 0 0 Clint Price Board Member 1 0 X 0 0 0 Leni Selvaggio Chairman of the Board 1 0 X 0 0 0 Homer Todd Board Member 1 0 X 0 0 0 Egon Dezihan Board Member 1 0 X 0 0 0 Steve Doolittle Board Member 1 0 X 0 0 0 Kim Crompton Board Member 1 0 X 0 0 0 Karol Price Chairperson of the Supervisory Committee 1 0 X 0 0 0 Linda Queen Supervisory Committee Member 1 0 X 0 0 0 Sue Gordon Supervisory Committee Member 1 0 X 0 0 0 367211 0 0 2 0 1 0 0 0 0 0 0 0 0 0 0 Interest on Loans to Members 522130 3733989 3733989 0 0 Service Fees 522130 445330 445330 0 0 0 0 0 0 4179319 396794 396794 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 310960 310960 0 0 310960 4887073 4887073 0 0 0 0 0 0 0 0 730969 730969 288761 288761 0 0 0 0 0 0 677446 677446 0 0 171759 171759 0 0 110468 110468 0 0 90307 90307 0 0 0 0 0 0 7295 7295 0 0 27824 27824 0 0 0 0 0 0 0 0 0 0 0 0 44676 44676 0 0 82084 82084 0 0 96980 96980 0 0 333611 333611 0 0 0 0 0 0 192055 192055 0 0 0 0 0 0 0 0 0 0 53661 53661 0 0 0 0 0 0 0 0 0 0 112192 112192 0 0 48863 48863 0 0 Loan Servicing Costs 398313 398313 0 0 Provision for Loan and Courtesy Pay Losses 492075 492075 0 0 Member Service Costs 335531 335531 0 0 Misc Losses 95983 95983 0 0 0 0 0 0 4390853 4390853 0 0 8906951 5711440 8345715 14594387 0 0 11192 11338 0 0 0 0 60069227 58753091 0 0 352823 335967 4286201 742415 3825158 3543786 0 0 0 0 62868 62143 44961 44961 356017 518366 81974912 83575479 155995 306688 0 0 0 0 0 0 0 0 0 0 0 0 0 0 317908 300942 473903 607630 X 72180517 73080537 0 0 9320492 9887312 81501009 82967849 81974912 83575479 X 496220 0 0 0 0 970620 X 1 X 1 X 1 0 1293631 0 1293631 2992570 0 742415 2250155 0 0 0 0 0 0 0 0 0 0 0 0 3543786 0 Settlement and Clearing and Pension 300942 300942 4887073 0 0 0 0 0 4887073 0 0 0 4887073 4390853 0 0 0 0 0 4390853 0 0 0 4390853 0 0 0 Margaret Burkholz Executive Director/CEO 154297 0 31500 0 0 0 0 0 0 0 185797 0 0 0 Annettee Babb Vice President - Operations 82964 0 20000 0 0 0 0 0 0 0 102964 0 0 0 Deanna Hanley Vice President - Lending 58450 0 20000 0 0 0 0 0 0 0 78450 0 0 0 Form 990, Header, Line B This 990 form is to ONLY get our 2019 990 data into the f-File system as our original paperwork was sent by certified mail to the IRS on July 15, 2020 as required. Form 990, Part VI, Section A, Line 6 The organization is a credit union, by definition a financial cooperative composed of 7214 members who hold a savings and or loan accounts. It is governed by a 7 member Board of Directors who are elected from and by the membership and are unpaid volunteers. Form 990, Part VI, Section A, Line 7a Annual membership voting and Annual Meeting. Each member (age 18 and over) of the credit union has equally one vote in the annual election of the Board of Directors and Supervisory Committee for open positions. Form 990, Part VI, Section B, Line 11b 990 is reviewed by the CEO once completed by the Accounting Manager Form 990, Part VI, Section B, Line 12c Annual review of policy with volunteers, management and staff. Form 990, Part VI, Section B, Line 15 Hire a 3rd party vendor and Balance Comp salary survey is used for CEO salary comparisons. The CEO's evaluation, annual salary and bonus is set by the Board of Directors. All staffing has a formal performance evaluation also. We use Balance Comp for guidance for salary comparisons. Form 990, Part VI, Section C, Line 19 PrimeSource Credit Union publishes its financial statements each year during the annual meeting of its members. Copies of these statements are also available upon the request from individuals at our offices. Additionally, we provide our 990 for review upon request by individuals at our office. Copies of our conflict of interest policy is given to each new employee and each applicant of the Board and Supervisory committee upon receipt of their application. Our financial information is also available on the NCUA's website as a part of our 5300 quarterly reporting. Form 990, Part XI, Line 9 The other changes in Net Assets or Funds Balances can be directly attributed to a change in member deposits combilned with a change in comprehensive income. The credit union has been in contact with the IRS to re submit the 2019 990. The 2019 - 990 was filed on time, however it was mailed and the credit union was told the 990 needed to be done via E-file.