CREDIT UNIONS IN THE STATE OF WASHI NGTON: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: CREDIT UNIONS IN THE STATE OF WASHI NGTON (EIN 91-6035907)
Tax period: 2021-01-01 to 2021-12-31
Filed: 2022-11-15
IRS object ID: 202233199349328228
Schema version: 2021v4.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule C
Schedule D
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2022-11-15T17:50:33-06:00	ReturnTs
Tax Period End	2021-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	910189318	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	MOSS ADAMS LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	2707 COLBY AVENUE SUITE 801	AddressLine1Txt
City	EVERETT	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	98201	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2021-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	916035907	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	QUALSTAR CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	QUAL	BusinessNameControlTxt
Phone	8008480018	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 3050	AddressLine1Txt
City	BOTHELL	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	980413050	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	MICHAEL G ELFSTROM	PersonNm
Person Title	PRESIDENT/CEO	PersonTitleTxt
Phone	8008480018	PhoneNum
Signature	2022-11-15	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	MICHAEL	PersonFirstNm
Person Last	ELFSTROM	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	COLLEEN RAMIRES	PreparerPersonNm
PTIN	P01251320	PTIN
Phone	4252597227	PhoneNum
Preparation	2022-11-15	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	3	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2021	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Address Change	Yes (X)	AddressChangeInd
Principal Officer	MICHAEL G ELFSTROM	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	24000 35TH AVE SE	AddressLine1Txt
City	BOTHELL	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	98021	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$41,582,937	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	QUALSTARCU.COM	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1952	FormationYr
Legal Domicile State	WA	LegalDomicileStateCd
Activity Or Mission	WE ARE A CREDIT UNION PROVIDING FINANCIAL PRODUCTS & SERVICES TO MEMBERS	ActivityOrMissionDesc
Voting Members Governing Body	9	VotingMembersGoverningBodyCnt
Voting Members Independent	9	VotingMembersIndependentCnt
Total Employee	182	TotalEmployeeCnt
Total Volunteers	12	TotalVolunteersCnt
Total Gross UBI	$299,503	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$34,284,010	PYProgramServiceRevenueAmt
CY Program Service Revenue	$32,818,056	CYProgramServiceRevenueAmt
PY Investment Income	$3,965,054	PYInvestmentIncomeAmt
CY Investment Income	$6,788,717	CYInvestmentIncomeAmt
PY Other Revenue	-$7,296	PYOtherRevenueAmt
CY Other Revenue	$382,745	CYOtherRevenueAmt
PY Total Revenue	$38,241,768	PYTotalRevenueAmt
CY Total Revenue	$39,989,518	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$13,259,294	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$13,943,135	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$16,765,955	PYOtherExpensesAmt
CY Other Expenses	$11,528,229	CYOtherExpensesAmt
PY Total Expenses	$30,025,249	PYTotalExpensesAmt
CY Total Expenses	$25,471,364	CYTotalExpensesAmt
PY Revenues Less Expenses	$8,216,519	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$14,518,154	CYRevenuesLessExpensesAmt
Total Assets BOY	$733,482,561	TotalAssetsBOYAmt
Total Assets EOY	$811,506,750	TotalAssetsEOYAmt
Total Liabilities BOY	$646,834,042	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$713,747,924	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$86,648,519	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$97,758,826	NetAssetsOrFundBalancesEOYAmt
Mission	PROVIDE FINANCIAL PRODUCTS & SERVICES	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	INTEREST EXPENSE IN THE AMOUNT OF $1,630,284 WAS PAID TO MEMBERS FOR MONEY ON DEPOSIT AT THE CREDIT UNION. DEPOSIT ACCOUNTS EARNING INTEREST INCLUDE CHECKING, SAVINGS, MONEY MARKET, IRA, AND CERTIFICATE OF DEPOSIT ACCOUNTS. THE CREDIT UNION HAS ABOUT 93,300 DEPOSIT ACCOUNTS THAN CAN EARN INTEREST.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Desc	THE CREDIT UNION EXPENSED $521,720 IN PROVISION FOR LOAN LOSS COSTS FOR THE YEAR. THE EXPENSE WAS TO FUND THE ACCRUAL FOR DOUBTFUL LOANS ON THE BALANCE SHEET. THE CREDIT UNION HAS ABOUT 33,849 OPEN LOAN ACCOUNTS.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Desc	THE CREDIT UNION EXPENSED $883,296 DURING THE YEAR FOR LOAN SERVICING COSTS. THESE COSTS WERE PAID TO ORIGINATE AND SERVICE LOANS TO MEMBERS. THE CREDIT UNION HAS ABOUT 33,849 OPEN LOAN ACCOUNTS.	Desc

Field	Value	IRS element (for citing)
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	Yes (1)	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	Yes (1)	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	Yes (1)	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	12572	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	182	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	9	GoverningBodyVotingMembersCnt
Independent Voting Member	9	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	0	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	0	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MARK PETERSEN	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	8008480018	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	24000 35TH AVE SE	AddressLine1Txt
City	BOTHELL	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	98021	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd
MARK R NELSON
PRESIDENT (THRU 10/21)	40.00	Yes (X)	$442,135	$0	$31,616
MICHAEL G ELFSTROM
PRESIDENT	40.00	Yes (X)	$307,854	$0	$31,616
KARA TAYLOR
DIRECTOR OF I.S. (THRU 11/21)	40.00		$243,166	$0	$12,222	Yes (X)
MARK PETERSEN
CFO	40.00	Yes (X)	$165,125	$0	$26,535
WILLIAM HANAFORD
INVESTMENT ADVISOR	40.00		$166,479	$0	$13,847	Yes (X)
ROBERT ARBUCKLE
VP OF ALTERNATIVE LENDING	40.00		$160,685	$0	$13,373	Yes (X)
ROSHALLE DEARMENT
VP OF LENDING	40.00		$142,683	$0	$15,258	Yes (X)
JULIANA BERG
MORTGAGE DEV. SPECIALIST (THRU 12/21)	40.00		$134,937	$0	$2,717	Yes (X)
KIM BROWN
BOARD CHAIRMAN	4.00	Yes (X)	$0	$0	$0		Yes (X)
KIM ZIER
BOARD VICE CHAIR	3.00	Yes (X)	$0	$0	$0		Yes (X)
LEANNE CALIFANO
BOARD SECRETARY/TREASURER	3.00	Yes (X)	$0	$0	$0		Yes (X)
DOUG SCOTT
BOARD MEMBER	3.00		$0	$0	$0		Yes (X)
TRACY OYSTER
BOARD MEMBER	3.00		$0	$0	$0		Yes (X)
ADE' ARIWOOLA
BOARD MEMBER	3.00		$0	$0	$0		Yes (X)
MITCHELL JOHNSON
BOARD MEMBER	3.00		$0	$0	$0		Yes (X)
NOEL MCMURTRAY
BOARD MEMBER	3.00		$0	$0	$0		Yes (X)
LARRY BINDNER
BOARD MEMBER (THRU 9/21)	3.00		$0	$0	$0		Yes (X)
RUSS DEWOLFE
BOARD MEMBER	3.00		$0	$0	$0		Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$1,763,064	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$147,184	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	21	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
JACK HENRY AND ASSOCIATES
663 W HWY 60	MONETT	MO	65708	CORE BANKING SYSTEM/CARD	$1,183,657
VISA
PO BOX 8999	SAN FRANSISCO	CA	94128	CREDIT CARD PROCESSOR	$662,315
TEMENOS USA
PO BOX 536652	PITTSBURG	PA	15253	LENDING PLATFORM	$548,020
CO-OP FINANCIAL SERVICES
9692 HAVEN AVE	RANCHO CUCAMONGA	CA	91730	SHARED BRANCHING AND	$509,783
ALKAMI TECHNOLOGY
PO BOX 122223	DALLAS	TX	75312	BILL PAYER	$472,842

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	19	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
INTEREST ON LOANS	522130	$21,893,989	$21,893,989
OTHER OPERATING INCOME	522130	$7,404,750	$7,112,781	$291,969
FEE INCOME	522130	$3,519,317	$3,511,783	$7,534

Field	Value	IRS element (for citing)
Total Program Service Revenue	$32,818,056	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,428,235	TotalRevenueColumnAmt
Exclusion	$2,428,235	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$767,162	RealAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Real	$384,417	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$382,745	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$382,745	TotalRevenueColumnAmt
Exclusion	$382,745	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Other	$5,569,484	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Other	$1,209,002	OtherAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Other	$4,360,482	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,360,482	TotalRevenueColumnAmt
Exclusion	$4,360,482	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$39,989,518	TotalRevenueColumnAmt
Related Or Exempt Func Income	$32,518,553	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$299,503	UnrelatedBusinessRevenueAmt
Exclusion	$7,171,462	ExclusionAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	Yes (X)	InfoInScheduleOPartIXInd

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$1,004,879	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$9,149,122	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$1,797,113	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$1,272,980	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$719,041	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$88,514	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$127,245	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$3,305,591	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$412,054	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,145,417	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$480,315	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$1,284,859	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$179,839	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$1,630,285	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$727,577	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$400,922	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
LOAN SERVICING	$883,296
PROVISION FOR LOAN LOSS	$615,261
ASSOCIATION DUES	$89,961
MISCELLANEOUS	$80,241

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$76,852	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$25,471,364	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$9,243,683	BOYAmt
EOY	$13,485,998	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$52,545,333	BOYAmt
EOY	$33,333,698	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$21,215,813	BOYAmt
EOY	$31,065,785	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$2,146,212	BOYAmt
EOY	$2,269,349	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$355,498,412	BOYAmt
EOY	$348,110,913	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$820,157	BOYAmt
EOY	$808,466	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$25,629,997	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$8,358,805	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$6,143,046	BOYAmt
EOY	$17,271,192	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$157,212,428	BOYAmt
EOY	$286,457,965	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$120,424,785	BOYAmt
EOY	$69,352,996	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$8,232,692	BOYAmt
EOY	$9,350,388	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$733,482,561	BOYAmt
EOY	$811,506,750	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$16,093,210	BOYAmt
EOY	$16,110,206	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$97,630	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$416,597	BOYAmt
EOY	$471,446	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$630,324,235	BOYAmt
EOY	$697,068,642	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$646,834,042	BOYAmt
EOY	$713,747,924	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$86,648,519	BOYAmt
EOY	$97,758,826	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$86,648,519	BOYAmt
EOY	$97,758,826	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$733,482,561	BOYAmt
EOY	$811,506,750	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$14,518,154	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	-$3,407,847	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	0	FSAuditedInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule C IRS990ScheduleC

Field	Value	IRS element (for citing)
Political Expenditures	$6,474	PoliticalExpendituresAmt
Expended527 Activities	$0	Expended527ActivitiesAmt
Internal Funds Contributed	$6,474	InternalFundsContributedAmt
Total Exempt Function Expend	$6,474	TotalExemptFunctionExpendAmt
Form1120 POL Filed	Yes (1)	Form1120POLFiledInd

Section527 Political Org Section527PoliticalOrgGrp

Organization Business Name OrganizationBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	CREDIT UNION LEGISLATIVE ACTION FUND	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	18000 INTERNATIONAL BLVD SUITE 350	AddressLine1Txt
City	SEATAC	CityNm
State Abbreviation	WA	StateAbbreviationCd
ZIP	98188	ZIPCd

Field	Value	IRS element (for citing)
EIN	910460483	EIN
Paid Internal Funds	$6,474	PaidInternalFundsAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I-A, LINE 1:	FormAndLineReferenceDesc
Explanation	THE CREDIT UNIONS ONLY INDIRECT POLITICAL CAMPAIGN ACTIVITY IS A CONTRIBUTION TO THE CREDIT UNION LEGISLATIVE ACTION COMMITTEE.	ExplanationTxt

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Agent Trustee Etc	0	AgentTrusteeEtcInd
Incl Escrow Custodial Acct Liab	Yes (1)	InclEscrowCustodialAcctLiabInd
Explanation Provided	Yes (X)	ExplanationProvidedInd

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$4,833,409	OtherCostOrOtherBasisAmt
Book Value	$4,833,409	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$11,728,198	OtherCostOrOtherBasisAmt
Depreciation	$944,591	DepreciationAmt
Book Value	$10,783,607	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,833,195	OtherCostOrOtherBasisAmt
Depreciation	$1,829,571	DepreciationAmt
Book Value	$3,624	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$6,523,445	OtherCostOrOtherBasisAmt
Depreciation	$5,550,750	DepreciationAmt
Book Value	$972,695	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$711,750	OtherCostOrOtherBasisAmt
Depreciation	$33,893	DepreciationAmt
Book Value	$677,857	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$17,271,192	TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (5 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
CERTIFICATES AT BANKS AND CREDIT UNIONS	$68,694,050	C
COOP	$310,836	C
PSCU	$230,429	C
FSCC	$92,681	C
CUDL	$25,000	C

Field	Value	IRS element (for citing)
Total Book Value Securities	$69,352,996	TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

Field	Value	IRS element (for citing)
Desc	MEMBER SHARE DEPOSITS	Desc
Amt	$697,068,642	Amt

Field	Value	IRS element (for citing)
Total Liability	$697,068,642	TotalLiabilityAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART IV, LINE 2B:	FormAndLineReferenceDesc
Explanation	THE ESCROW ACCOUNT IS FOR PROPERTY TAXES AND INSURANCE PAYMENTS COLLECTED FROM MEMBERS WHO ORIGINATED THEIR MORTGAGE LOANS AT QUALSTAR CREDIT UNION.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Compensation Committee	Yes (X)	CompensationCommitteeInd
Independent Consultant	Yes (X)	IndependentConsultantInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (1)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
MARK R NELSON
PRESIDENT (THRU 10/21)	$278,398	$0	$155,413	$0	$8,324	$0	$10,600	$0	$21,016	$0	$473,751	$0	$0	$0
MICHAEL G ELFSTROM
PRESIDENT	$251,591	$0	$55,711	$0	$552	$0	$10,600	$0	$21,016	$0	$339,470	$0	$0	$0
KARA TAYLOR
DIRECTOR OF I.S. (THRU 11/21)	$139,707	$0	$102,970	$0	$489	$0	$6,253	$0	$5,969	$0	$255,388	$0	$0	$0
MARK PETERSEN
CFO	$158,948	$0	$5,145	$0	$1,032	$0	$5,519	$0	$21,016	$0	$191,660	$0	$0	$0
WILLIAM HANAFORD
INVESTMENT ADVISOR	$27,521	$0	$138,645	$0	$313	$0	$7,335	$0	$6,512	$0	$180,326	$0	$0	$0
ROBERT ARBUCKLE
VP OF ALTERNATIVE LENDING	$139,534	$0	$19,567	$0	$1,584	$0	$6,861	$0	$6,512	$0	$174,058	$0	$0	$0
ROSHALLE DEARMENT
VP OF LENDING	$128,746	$0	$13,385	$0	$552	$0	$5,884	$0	$9,374	$0	$157,941	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 3	FormAndLineReferenceDesc
Explanation	MARK NELSON AND MICHAEL ELFSTROM PARTICIPATE IN THE SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15.	ExplanationTxt

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)

Relationship With OrgRelationshipWithOrgTxt	Loan PurposeLoanPurposeTxt	Loan From OrganizationLoanFromOrganizationInd	Original PrincipalOriginalPrincipalAmt	Balance DueBalanceDueAmt	DefaultDefaultInd	Board Or Committee ApprovalBoardOrCommitteeApprovalInd	Written AgreementWrittenAgreementInd
MARK NELSON
FORMER OFFICER	SECURED SPLIT DOLLAR AGREEMENT	Yes (X)	$1,000,000	$1,268,939	0	Yes (1)	Yes (1)
MICHAEL ELFSTROM
CURRENT OFFICER	SECURED SPLIT DOLLAR AGREEMENT	Yes (X)	$950,000	$1,000,410	0	Yes (1)	Yes (1)

Field	Value	IRS element (for citing)
Total Balance Due	$2,269,349	TotalBalanceDueAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE L, PART II:	FormAndLineReferenceDesc
Explanation	EXECUTIVE COMPENSATION UNDER A SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT THAT IS TREATED AS A SPLIT-DOLLAR LOAN UNDER TREASURY REGULATIONS SECTION 1.7872-15.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6	EACH PERSON SEEKING MEMBERSHIP MUST BE QUALIFIED FOR MEMBERSHIP AND MUST SUBMIT AN APPLICATION TO THE CREDIT UNION. EACH APPLICATION SHALL BE ACTED UPON BY THE BOARD, OR IF THE BOARD SO CHOOSES, MEMBERSHIP REPRESENTATIVES MAY BE TRAINED AND AUTHORIZED TO APPROVE APPLICATIONS. THE APPLICANT SHALL BECOME A MEMBER WHEN SUCH APPLICATION HAS BEEN APPROVED BY THE BOARD, OR IF APPLICABLE, THE MEMBERSHIP REPRESENTATIVES AND UPON HIS/HER SUBSCRIPTION TO AT LEAST ONE CREDIT UNION PRODUCT, OR DEPOSIT, OR LOAN ACCOUNT.
FORM 990, PART VI, SECTION A, LINE 7A	A NOMINATING COMMITTEE, MADE UP OF NOT FEWER THAN THREE MEMBERS NOMINATES AT LEAST ONE MEMBER FOR EACH BOARD VACANCY. THE BOARD SECRETARY SHALL NOTIFY IN WRITING ALL MEMBERS ELIGIBLE TO VOTE AT LEAST 75 DAYS PRIOR TO THE ANNUAL MEETING AND THAT NOMINATIONS FOR VACANCY MAY ALSO BE MADE BY PETITION SIGNED BY ONE PERCENT OF THE MEMBERS WITH A MINIMUM OF 20 AND A MAXIMUM OF 500. THE WRITTEN NOTICE SHALL INDICATE THAT THE ELECTION WILL NOT BE CONDUCTED BY BALLOT AND THERE WILL BE NO NOMINATIONS FROM THE FLOOR WHEN THERE IS ONLY ONE NOMINEE FOR EACH POSITION TO BE FILLED. ALL ELECTIONS SHALL BE DETERMINED BY PLURALITY OF VOTE AND SHALL BE BY ALL EXCEPT WHERE THERE IS ONLY ONE NOMINEE FOR EACH POSITION TO BE FILLED.
FORM 990, PART VI, SECTION B, LINE 11B	THE FORM 990 WAS PREPARED BY THE SENIOR ACCOUNTANT AND THE DIRECTOR OF FINANCE. THE FORM WAS REVIEWED BY THE CFO AND EXECUTIVE VICE PRESIDENT PRIOR TO SUBMISSION TO THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	DISCLOSURE IS REQUIRED OF ALL POTENTIAL CONFLICTS OF INTEREST, EITHER BUSINESS OR PERSONAL RELATIONSHIPS WITH EMPLOYEES, MEMBERS, VENDORS, BUSINESS ASSOCIATES, OR COMPETITORS OF THE CREDIT UNION. THE CREDIT UNION WILL ALSO RETAIN ON FILE ALL WRITTEN REPORTS OF ANY DISCLOSURES MADE REGARDING THE CREDIT UNION CODE OF CONDUCT. EMPLOYEES, OFFICERS, AND DIRECTORS OF THE CREDIT UNION ARE REQUIRED TO ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTOOD THE CODE OF CONDUCT AND ANY SUBSEQUENT MODIFICATIONS, AND THAT THEY AGREE TO COMPLY WITH THIS POLICY. EMPLOYEES AND OFFICERS ARE REQUIRED TO DISCLOSE THIS INFORMATION ANNUALLY.
FORM 990, PART VI, SECTION B, LINE 15A	THE ORGANIZATION USES A COMPENSATION COMMITTEE TO ESTABLISH THE CEO COMPENSATION ANNUALLY. THE COMMITTEE ALSO USES AN INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, AND COMPENSATION SURVEY OR STUDY.
FORM 990, PART VI, SECTION C, LINE 19	THE INFORMATION IS AVAILABLE UPON REQUEST.
FORM 990, PART IX, LINE 11G	OTHER PROFESSIONAL AND OUTSIDE SERVICES 3,305,591.
FORM 990, PART IX, LINE 11G:	OTHER PROFESSIONAL AND OUTSIDE SERVICES TO SUPPORT THE CREDIT UNION SUCH AS COURIER AND MAILING SERVICES, CARD NETWORK CHARGES, AND SHARED BRANCHING NETWROK CHARGES.