2022-10-19T13:57:38-05:00 2021-12-31 910189318 MOSS ADAMS LLP 2707 COLBY AVENUE SUITE 801 EVERETT WA 98201 990 2021-01-01 910333066 KITSAP CREDIT UNION KITS 3606622000 PO BOX 990 BREMERTON WA 98337 TREVOR STUART SVP/CHIEF FINANCIAL OFFICER 3606622000 2022-10-19 1 TREVOR STUART 999009999 COLLEEN RAMIRES P01251320 4252597227 2022-10-19 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z SHAWN GILFEDDER PO BOX 990 BREMERTON WA 98337 92284160 0 X WWW.KITSAPCU.ORG X 1934 WA A NOT-FOR-PROFIT FINANCIAL COOPERATIVE OFFERING CHECKING, SAVINGS AND LENDING PROGRAMS AND RELATED SERVICES TO MEMBERS WHO LIVE, WORK, OR WORSHIP IN THE STATE OF WASHINGTON. KITSAP CREDIT UNION (KCU) ALSO PROVIDES FINANCIAL LITERACY PROGRAMS AND IS ACTIVELY INVOLVED IN COMMUNITY OUTREACH PROGRAMS. 9 9 379 0 906327 0 0 0 73635909 80783208 4416484 5448594 0 0 78052393 86231802 310000 382577 0 0 26862308 28290433 0 0 0 48957706 38278378 76130014 66951388 1922379 19280414 1732585883 2025562127 1583113830 1863644319 149472053 161917808 TO OFFER CHECKING, SAVINGS, AND LENDING PROGRAMS TO MEMBERS WHO LIVE, WORK, AND WORSHIP IN THE STATE OF WASHINGTON. KCU ALSO PROVIDES FINANCIAL LITERACY PROGRAMS AND IS ACTIVELY INVOLVED IN COMMUNITY OUTREACH PROGRAMS. 0 0 SECURED AND UNSECURED LOANS ISSUED TO CREDIT UNION MEMBERS, AS RELATED TO THE EXEMPT PURPOSE OF KCU. THE TYPES OF LOANS ISSUED INCLUDE DIRECT AND INDIRECT VEHICLE LOANS, VISA'S, HOME EQUITY LOANS, AND MORTGAGE LOANS. SAVINGS PROGRAMS THAT ARE PROVIDED TO CREDIT UNION MEMBERS, AS RELATED TO THE EXEMPT PURPOSE OF KCU. THE TYPES OF ACCOUNTS OFFERED ARE CHECKING, MONEY MARKET ACCOUNTS, IRA ACCOUNTS, REGULAR SAVINGS, AND CERTIFICATES. COMMUNITY INVOLVEMENT INCLUDING DONATION OF STAFF TIME IN THE COMMUNITY. KCU ALSO OFFERS MANY FINANCIAL LITERACY CLASSES FOR CHILDREN AND ADULTS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 27472 0 1 379 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X SHAWN GILFEDDER 3606622208 PO BOX 990 BREMERTON WA 98337 SUSAN BAKER CHAIR 8.00 X X 25000 0 0 WENDIE JOHNSON DIRECTOR 8.00 X 20000 0 0 JIM ROWSON TREASURER 8.00 X X 20000 0 0 TONY BOLANDER VICE CHAIR 8.00 X X 17500 0 0 SUSAN SIOBHAN CANTY DIRECTOR 5.00 X 17500 0 0 KAREN HOLMES DIRECTOR 5.00 X 15000 0 0 VICKI GAMBRELL SECRETARY 5.00 X X 15000 0 0 MIKE GOONEWARDENE DIRECTOR 5.00 X 7625 0 0 CRAIG OLSON DIRECTOR 5.00 X 7625 0 0 PETE SCHLICHER DIRECTOR (THRU 03/21) 5.00 X 7375 0 0 BOB PODRAT DIRECTOR (THRU 03/21) 5.00 X 7375 0 0 SHAWN GILFEDDER PRESIDENT/CEO 50.00 X 1026006 0 22483 JAMES W PYRON SVP CMO 50.00 X 432902 0 13992 KELLIE D LETEXIER SVP COO 50.00 X 648946 0 16663 ANTHONY G BULLERI SVP CLO 50.00 X 516282 0 12482 BRADLEY MILLER SVP CFO (THRU 05/21) 50.00 X 479126 0 13410 SCOTT LINDLEY SVP CIO 50.00 X 170091 0 6762 COLIN P MORRISON SVP CIO (THRU 05/21) 50.00 X 371196 0 9156 REGINA WOOD VP, FINANCE 50.00 X 197318 0 11240 MARK GAULT VP STRATEGIC PLANNING 50.00 X 200542 0 20336 ANDREA LUCKY VP, HUMAN RESOURCES 50.00 X 178287 0 9049 ELIZABETH P ADCOCK VP, INFORMATION SERVICES 50.00 X 186710 0 14059 LAURA J ENQUIST VP MEMBER EXPERIENCE 50.00 X 182940 0 10586 4750346 0 160218 42 0 1 0 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING/BILL PAY SERVICE 2251556 GIBSON MEDIA INC 108 S WASHINGTON ST SUITE 204 SEATTLE WA 98104 ADVERTISING/CONSULTING 1351364 MICROSOFT SERVICES PO BOX 844510 DALLAS TX 752844510 SOFTWARE LICENSING 1194214 DCG ONE SEATTLE ENVELOPE COMPANY 4700 9TH AVE NW SEATTLE WA 98107 PRINTING/STATEMENT SERVICES 1185754 VISA DPS PO BOX 742233 LOS ANGELES CA 90074 PLASTIC CARD DATA PROCESSING SERVICES 1144151 35 INTEREST ON LOANS 522130 58462494 58462494 INTERCHANGE INCOME 522130 11810696 11810696 FEE INCOME 522130 8102519 8102519 OTHER INCOME 522130 2407499 1501172 906327 80783208 5102122 5102122 6398830 6049608 2750 349222 -2750 346472 346472 86231802 79876881 906327 5448594 382577 3899495 18281935 890474 3419073 1799456 21965 158036 4500465 3605502 6035975 4111696 2581386 182440 4972597 2111673 445522 DEBIT CARD EXPENSES 2815945 LOAN EXPENSES 2346330 LOAN PROVISION 771205 MFM SERVICE FEE 753647 2863994 66951388 26442216 24550416 159901202 231903926 43982355 29382578 5581474 5637808 1152287615 1251427488 4624220 5710819 58210192 28084607 32407059 30125585 272133830 391251583 14548804 1908215 260657 223946 20416451 53439763 1732585883 2025562127 13415013 13433943 233907 1251387 336797 336296 1569128113 1848622693 1583113830 1863644319 X 0 0 0 0 149472053 161917808 149472053 161917808 1732585883 2025562127 19280414 -6834659 0 X 0 0 0 14702 0 0 14702 14702 1 CREDIT UNION LEGISLATIVE ACTION FUND 18000 INTERNATIONAL BLVD STE 350 SEATAC WA 98188 800043051 14702 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTED TO A POLITICAL ACTION COMMITTEE WHOSE FUNDS ARE USED TO MAKE CONTRIBUTIONS TO SUPPORT THE ELECTION OF CREDIT UNION-FRIENDLY CANDIDATES FOR STATEWIDE OFFICE AND STATE LEGISLATURE. 0 1 X 6255035 6255035 33710811 12230642 21480169 5072962 4428600 644362 13126189 11425365 1700824 45195 45195 30125585 MEMBER SHARES & DEPOSITS 1848622693 1848622693 PART IV, LINE 2B: ESCROW SHARES ARE USED TO PAY PROPERTY TAXES AND INSURANCE FOR MEMBERS WITH REAL ESTATE LOANS. 1 CENTRAL KITSAP SCHOOL DISTRICT PO BOX 8 SILVERDALE WA 98383 916006768 GOV 100000 0 ATHLETIC COMPLEX SPONSORSHIP UNITED WAY OF PIERCE COUNTY 1501 PACIFIC AVE STE 400 TACOMA WA 98402 910650669 501(C)(3) 16000 0 CENTER FOR STRONG FAMILIES DONATION, BACK PACK FEEDING DONATION UNITED WAY OF KITSAP COUNTY 645 4TH STREET STE 101 BREMERTON WA 98337 910623990 501(C)(3) 15000 0 PLATINUM SPONSORSHIP NORTH KITSAP FISHLINE PO BOX 1517 POULSBO WA 98370 911244431 501(C)(3) 13500 0 FOOD BANK DONATIONS KITSAP ECONOMIC DEVELOPMENT ALLIANCE 2021 NW MYHRE RD STE 100 SILVERDALE WA 98337 911335188 501(C)(6) 13000 0 PROGRAM INVESTMENT 2021 SHARENET FOOD BANK PO BOX 479 KINGSTON WA 98346 824153719 501(C)(3) 12000 0 FOOD BANK DONATIONS GREATER GIG HARBOR FOUNDATION 7191 WAGNER WAY STE 102 GIG HARBOR WA 98335 432104829 501(C)(3) 11000 0 2021 STUDENTS OF DISTINCTION SPONSORSHIP, FOOD BANK DONATION BOYS & GIRLS CLUB SOUTH PUGET SOUND 3875 SOUTH 66TH ST STE 101 TACOMA WA 98409 910759832 501(C)(3) 10000 0 NORTH MASON TEEN CENTER DONATION KITSAP COMMUNITY FOUNDATION PO BOX 3670 SILVERDALE WA 98383 943205217 501(C)(3) 10000 0 2021 KITSAP GREAT GIVE SPONSORSHIP NORTHWEST HARVEST EMM PO BOX 12272 SEATTLE WA 98102 910826037 501(C)(3) 10000 0 FOOD BANK DONATIONS WWU FOUNDATION 516 HIGH STREET BELLINGHAM WA 98225 916073519 501(C)(3) 10000 0 SMALL BUSINESS DEVELOPMENT CENTER DONATION OLYMPIC COLLEGE FOUNDATION 1600 CHESTER AVE CSE-530 BREMERTON WA 98337 911595274 501(C)(3) 9500 0 AUCTION/BRUNCH SPONSORSHIP PUYALLUP FOOD BANK PO BOX 202 PUYALLUP WA 98371 237259739 501(C)(3) 7500 0 FOOD BANK DONATIONS CENTRAL KITSAP FOOD BANK PO BOX 1185 SILVERDALE WA 98383 911425561 501(C)(3) 6750 0 FOOD BANK DONATIONS BREMERTON BACKPACK BRIGADE PO BOX 2533 BREMERTON WA 98310 473779347 501(C)(3) 6250 0 BACK PACK FEEDING DONATION BREMERTON FOODLINE 1600 12TH ST BREMERTON WA 98337 911111086 501(C)(3) 6200 0 FOOD BANK DONATIONS FIRST CHRISTIAN CHURCH 4885 SW HOVDE RD PORT ORCHARD WA 98367 910832262 501(C)(3) 6000 0 BACK PACK FEEDING DONATION CENTRAL KITSAP FOOD BANK PO BOX 1185 SILVERDALE WA 98383 911425561 501(C)(3) 6000 0 BACK PACK FEEDING DONATION CHIMACUM BACK PACKS FOR KIDS PO BOX 595 CHIMACUM WA 98325 830634299 501(C)(3) 6000 0 BACK PACK FEEDING DONATION NORTH MASON COALITION OF CHURCHES AND COMMUNITY PO BOX 1331 BELFAIR WA 98528 205496121 501(C)(3) 6000 0 BACK PACK FEEDING DONATION FOOD BACKPACK 4 KIDS PO BOX 173 GIG HARBOR WA 98335 800600633 501(C)(3) 6000 0 BACK PACK FEEDING DONATION GIG HARBOR PENINSULA FISH FOOD BANK 4425 BURNHAM DR GIG HARBOR WA 98332 911307991 501(C)(3) 6000 0 FOOD BANK DONATIONS NOURISH PIERCE COUNTY 1702 SOUTH 72ND ST STE E TACOMA WA 98408 911198391 501(C)(3) 6000 0 FOOD BANK DONATIONS NAVY - MARINE CORPS RELIEF SOCIETY 120 S DEWEY ST BLDG 853 BREMERTON WA 98314 530204618 501(C)(3) 6000 0 FOOD BANK DONATIONS NORTH MASON FOOD BANK 22471 E STATE ROUTE 3 BELFAIR WA 98528 943197896 501(C)(3) 6000 0 FOOD BANK DONATIONS PARKWAY COMMUNITY SERVICES 7808 207TH ST CT E SPANAWAY WA 98387 821318383 501(C)(3) 6000 0 BACK PACK FEEDING DONATION FOOD BANK FARM AND GARDENS OF JEFFERSON COUNTY 1925 BLAINE STREET PORT TOWNSEND WA 98368 465747181 501(C)(3) 6000 0 FOOD BANK DONATIONS PORT TOWNSEND KIWANIS CHARITABLE TRUST PO BOX 489 PORT TOWNSEND WA 98368 911567462 501(C)(3) 6000 0 BACK PACK FEEDING DONATION SOUTH KITSAP HELPLINE 1012 MITCHELL AVE PORT ORCHARD WA 98366 911117868 501(C)(3) 6000 0 FOOD BANK DONATIONS 28 1 PART I, LINE 2: THE CREDIT UNION CONSIDERS DONATIONS OR SPONSORSHIPS TO ORGANIZATIONS IN THE UNITED STATES IN ITS BRANCH SERVICE AREAS THAT EXHIBIT A NEED IN ONE OF THE CREDIT UNION'S TARGETED FOCUS AREAS INCLUDING, BUT NOT LIMITED TO: HOMELESSNESS/HOUSING, STABILITY/AFFORDABLE HOUSING, HUNGER/FOOD INSECURITY, AND EDUCATION/FINANCIAL WELLNESS. X 1 1 X X X 0 1 0 SHAWN GILFEDDER PRESIDENT/CEO 602538 0 419430 0 4038 0 14430 0 8053 0 1048489 0 0 0 KELLIE D LETEXIER SVP COO 296410 0 87337 0 265199 0 12529 0 4134 0 665609 0 255938 0 ANTHONY G BULLERI SVP CLO 233960 0 68936 0 213386 0 12329 0 153 0 528764 0 206719 0 BRADLEY MILLER SVP CFO (THRU 05/21) 148595 0 79235 0 251296 0 11183 0 2227 0 492536 0 246094 0 JAMES W PYRON SVP CMO 331576 0 97210 0 4116 0 13839 0 153 0 446894 0 0 0 COLIN P MORRISON SVP CIO (THRU 05/21) 109398 0 60424 0 201374 0 7647 0 1509 0 380352 0 196875 0 MARK GAULT VP STRATEGIC PLANNING 170969 0 25688 0 3885 0 9833 0 10503 0 220878 0 0 0 REGINA WOOD VP, FINANCE 176576 0 19030 0 1712 0 9780 0 1460 0 208558 0 0 0 ELIZABETH P ADCOCK VP, INFORMATION SERVICES 168266 0 18009 0 435 0 8766 0 5293 0 200769 0 0 0 LAURA J ENQUIST VP MEMBER EXPERIENCE 157656 0 24227 0 1057 0 9094 0 1492 0 193526 0 0 0 ANDREA LUCKY VP, HUMAN RESOURCES 170828 0 6385 0 1074 0 8597 0 452 0 187336 0 0 0 SCOTT LINDLEY SVP CIO 126058 0 0 0 44033 0 3837 0 2925 0 176853 0 0 0 PART I, LINE 1A APPROVED PAID TRAVEL EXPENSES FOR BOARD MEMBER AND OFFICER GUESTS AS PER WRITTEN POLICY AND ARE INCLUDED IN TAXABLE COMPENSATION AS APPROPRIATE. PART I, LINE 4B THE CREDIT UNION HAS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) AGREEMENT FOR BRADLEY MILLER, KELLIE LETEXIER, ANTHONY BULLERI, AND COLIN MORRISON. RESPECTIVELY, EACH ACCRUED $3,906, $4,063, $3,281, AND $3,125 AND RECEIVED A PAYOUT OF $250,000, $260,000, $210,000, AND $200,000 UNDER THIS AGREEMENT FOR THE YEAR ENDING DECEMBER 31, 2021. IN 2021, SHAWN GILFEDDER PARTICIPATED IN A SPLIT DOLLAR LOAN PLAN. SHAWN GILFEDDER PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE POLICY X 5483679 5637808 0 1 1 5637808 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION OPERATES AS A CREDIT UNION CONSISTING OF ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS ARE ELECTED FOR A 3-YEAR TERM AND CAN RUN FOR RE-ELECTION. NEW DIRECTORS ARE APPROVED BY EXISTING DIRECTORS TYPICALLY, BUT MEMBERS WILL APPROVE THE DIRECTORS IF THE NUMBER OF DIRECTORS NOMINATED EXCEEDS THE OPENINGS. BALLOTS ARE MAILED TO MEMBERS ONLY WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD MEMBERS, ACCOUNTING DIRECTOR, ACCOUNTING SUPERVISOR, AND SVP/CFO REVIEW THE RETURN FOR ACCURACY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CODE OF CONDUCT IS REQUIRED TO BE REVIEWED AND SIGNED (WITH OR WITHOUT DISCLOSURES) OR ACKNOWLEDGED (BY ELECTRONIC SIGNATURE) UPON HIRE FOR NEW EMPLOYEES AND ANNUALLY THEREAFTER FOR ALL STAFF, OFFICIALS, AND DIRECTORS. NO DIRECTOR OR COMMITTEE MEMBER OF THE CREDIT UNION WILL PARTICIPATE IN THE DELIBERATION OF ANY QUESTION AFFECTING HIS/HER OWN, IMMEDIATE FAMILY MEMBER'S, OR HOUSEHOLD MEMBER'S PECUNIARY INTEREST. SUCH DIRECTOR OR COMMITTEE MEMBER WILL WITHDRAW FROM THE DELIBERATION AND DECISION UPON SUCH INTEREST. ANY POTENTIAL CONFLICT CONCERNING A BOARD MEMBER WOULD BE ADDRESSED BY THE BOARD CHAIR, AND IF APPROPRIATE, THE BOARD AND/OR CEO. A BOARD MEMBER WHO DOES NOT ABIDE BY THE CODE OF CONDUCT MAY BE SUSPENDED OR REMOVED HIS OR HER POSITION. A POTENTIAL CONFLICT INVOLVING A STAFF MEMBER WOULD BE ADDRESSED BY MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 15A KITSAP CREDIT UNION USED AN OUTSIDE COMPENSATION CONSULTANT (ONE FOR STAFF AND ANOTHER FOR EXECUTIVE COMPENSATION) TO DETERMINE MARKET RANGES FOR PAY FOR ALL POSITIONS IN 2021. THE HUMAN RESOURCES DEPARTMENT WORKS WITH THE CONSULTANTS TO ENSURE PAY RANGES ARE COMPETITIVE AND WITHIN THE MARKET. ACTUAL INDIVIDUAL PAY FOR THE CEO IS DETERMINED BY AND VOTED ON ANNUALLY BY THE BOARD OF DIRECTORS. PAY FOR OFFICERS IS DETERMINED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 KITSAP CREDIT UNION MAKES THE QUARTERLY FINANCIAL STATEMENTS AVAILABLE VIA NCUA AFTER QUARTERLY CALL REPORT IS FILED. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS, SUCH AS ARTICLES OF INCORPORATION, ARE AVAILABLE UPON REQUEST.