2021-11-09T10:22:22-07:00 2020-12-31 990 2020-01-01 910565128 SPOKANE TEACHERS CREDIT UNION SPOK 5093261954 1620 N Signal Drive Liberty Lake WA 99019 Brian Scott VP of Accounting and Finance 5093261954 2021-11-09 1 11 0 AAL2 2020 2022-09-23 18:48:47Z Brian Scott 1620 N Signal Dr Liberty Lake WA 99019 652429710 0 1269 X www.stcu.org X Credit Union 1934 WA STCU is committed to maximizing the value of every financial relationship through cost-effective financial services consistent with cooperative principles, applicable legislation, and prudent management. STCU serves 217,827 members as of 12/31/20. 9 9 881 5 263585 263585 84893 71045 153157827 164837036 7146945 12591155 -49290 159563 160340375 177658799 0 0 21630845 21101305 57577774 64056175 0 0 0 48959735 58295767 128168354 143453247 32172021 34205552 3290019279 4092963002 2937916749 3703062055 352102530 389900947 STCU is committed to maximizing the value of every financial relationship through cost-effective financial services consistent with cooperative principles, applicable legislation, and prudent management. STCU serves 217,827 members as of 12/31/20. 0 0 STCU has outstanding loans of $3,298,638,328 at December 31, 2020, representing 128,763 individual loans. STCU offers credit cards; auto, RV, and boat loans; 1st mortgage real estate loans, other real estate loans and lines of credit; and commercial loans. Revenues from loan activities include interest income earned, as well as loan origination and servicing fees. STCU provides share and deposit products, including checking, savings, money market, certificates, and IRA/Keogh accounts. At December 31, 2020, STCU had total share and deposit balances of $3,443,401,832 representing 350,378 individual accounts. STCU paid members dividends on their share and deposit accounts $21,182,799 in 2020. STCU earns various fees on transactions, balances or other financial products as outlined in the membership agreement or published fee schedules. 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 226080 0 1 881 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X Spokane Teachers Credit Union 5093261954 1620 N Signal Drive Liberty Lake WA 99019 Ezra Eckhardt President and CEO 40 0 X 859729 0 154511 Lindsey Myhre Executive Vice President and CFO 40 0 X 406333 0 72928 David Flood CLO 40 0 X 324684 0 65615 Evelyn Hopkins CAO 40 0 X 324719 0 23948 Patricia Baughman CDO 40 0 X 293699 0 50181 Patricia Kelly Senior Vice President 40 0 X 275345 0 59125 Tammy Fleiger Senior Vice President 40 0 X 257212 0 64998 Laura Wood Senior Vice President 40 0 X 238555 0 61562 Scott Rabe Vice President 40 0 X 223854 0 68351 Brian Scott Vice President 40 0 X 228939 0 50650 Richard Lentz Vice President 40 0 X 205578 0 62528 Marty Dickinson CMO 40 0 X 220507 0 29469 Patrick Enders Home Loan Officer 40 0 X 212695 0 28646 Darren McNannay Director Real Estate 40 0 X 198562 0 40700 Jennifer Cunnington Home Loan Officer 40 0 X 211324 0 25003 Robyn Galtieri Vice President 40 0 X 194802 0 39199 Erin Halleman Home Loan Officer 40 0 X 194951 0 33516 Brendan Wiechert Director Commercial Lending 40 0 X 195493 0 32517 Christopher Severin Vice President 40 0 X 47331 0 14027 Joseph Yetter Senior Vice President 40 0 X 40825 0 2562 Chris Morlan Chairman 2 0 X 21050 0 0 Dolores Humiston Director 2 0 X 16762 0 0 Richard W Stanley Director 2 0 X 15125 0 0 Adriane L Hanley Director 2 0 X 15125 0 0 Steven Jones Director 2 0 X 15125 0 0 Dennis Michael Rennaker Vice Chair 2 0 X 15125 0 0 Catherine Brazil Director 2 0 X 15125 0 0 Jeffrey Perkins Director 2 0 X 15125 0 0 Justin Botejue Director 2 0 X 11850 0 0 Kathryn Dobson Chair, Supervisory Committee 2 0 X 11344 0 0 Kevin Spohr Supervisory Com 2 0 X 7562 0 0 Janet McCann Supervisory Com 2 0 X 7562 0 0 Brian Myers Director 2 0 X 1092 0 0 5323109 0 980036 108 1 1 0 Smart Source Critial Communications LLC 26001 Pala Mission Viejo CA 92691 Printing and Mailing 1961975 Paine Hamblen LLP 717 W Sprague Ave Suite 1200 Spokane WA 99201 Legal and Collection Services 167447 Dee's Landscaping & Lawn Service LLC 11414 W Newkirk Rd Spokane WA 99224 Landscaping Services 202365 Michael A Smith PO Box 10803 Spokane WA 99209 Real Estate Appraisal 152630 Black Ridge Properties LLC 2100 Northwest Blvd STE 350 Coeur d Alene ID 83814 Property Rental 125775 8 0 71045 0 0 0 0 0 71045 Loan Interest Income 522100 138116997 138116997 0 0 Fees and Service Charges 522100 23960257 23696672 263585 0 Loan Svc and Origination 522100 2759782 2759782 0 0 0 0 0 0 164837036 5053324 5053324 0 0 0 0 0 0 0 0 0 0 553534 0 393971 0 159563 0 159563 159563 0 0 0 481914771 0 474376940 0 7537831 7537831 7537831 0 0 0 0 0 0 0 0 0 177658799 177324169 263585 0 0 0 0 21101305 4961765 0 42280339 3656892 9142771 4014408 0 117020 232864 0 0 0 2793031 6043204 1806038 5748922 0 4236513 0 0 690760 5507317 0 5735850 0 Processing Expense 9238139 Provision for Loan Loss 13977215 Loan Servicing Expense 2815461 Postage and Shipping 1081021 -1727588 143453247 0 0 0 22113995 20520226 119458297 393336544 0 0 581461 1653063 0 14375443 0 0 2857808348 3267530468 0 0 10497549 7319342 126533710 49431031 71683604 77102679 142915717 243767009 15970600 14064900 0 0 458357 2406736 48531351 50886592 3290019279 4092963002 25411029 37328929 0 0 1532141 1285305 0 0 5220580 6280508 0 0 265339704 214765481 0 0 2640413295 3443401832 2937916749 3703062055 X 0 0 0 0 352102530 389900947 352102530 389900947 3290019279 4092963002 X 34205552 107563 0 0 0 3485302 X 1 X 1 X 1 0 68873 0 68873 0 68873 1 NORTHWEST CREDIT UNION ASSOC 18000 INTL BLVD STE 350 Sea Tac WA 98188 910460483 42873 0 CITIZENS FOR KIM WYMAN 2020 PO BOX 369 SNOHOMISH WA 98291 271572732 1000 0 COMMITTEE TO ELECT MIKE VOLZ 2020 PO BOX 10163 Spokane WA 99209 813891241 1000 0 CITIZENS FOR BRAD KLIPPERT 2020 7620 WEST 21ST AVENUE Kennewick WA 99338 800480538 500 0 COMMITTEE TO ELECT MATT BOEHNKE 2020 6855 W CLEARWATER AVENUE STE 101 144 Kennewick WA 99336 474567892 1000 0 COMMITTEE TO ELECT JENNY GRAHAM 2020 PO BOX 48654 Spokane WA 99209 824741433 500 0 COMMITTEE TO ELECT SKYLAR RUDE 2020 PO BOX 502 Walla Walla WA 99362 812502739 1000 0 Committee to Elect Jaquelin Maycumber 127 N Wynne St Colville WA 99114 538137781 1000 0 PADDEN FOR SENATE 2020 132021 E 9TH AVE Spokane WA 99216 275568154 500 0 SENATE COMMITTEE FOR MARK SCHOESLER 2020 1588 E ROSENOFF ROAD Ritzville WA 99169 043779321 1000 0 COMMITTEE TO ELECT MARY DYE 2020 1325 BELL PLAIN ROAD Pomeroy WA 99347 474064112 1000 0 COMMITTEE TO ELECT JOEL KRETZ 2020 1014 TORODA CREEK RD WAUCONDDA WA 98859 721573462 1000 0 COMMITTE TO ELECT BOB McCASLIN 2020 2609 SOUTH NEWER RD Spokane Valley WA 99037 471251302 500 0 COMMITTE TO ELECT TIMM ORMSBY 2020 PO BOX 2177 Spokane WA 99210 550876251 1000 0 FRIENDS OF ANDY BILLING 2020 PO BOX 145 Spokane WA 99210 271127517 1000 0 FRIENDS TO ELECT MARCUS RICCELLI 2020 PO BOX 1325 Spokane WA 99210 455222828 1000 0 ALLIANCE FOR A COMPETITIVE ECONOMY OF GREATER SPOKANE INC 801 W RIVERSIDE AVE 100 Spokane WA 99201 910418800 13000 0 Schedule C, Part I-A, Line 1 STCU has a political action policy and may provide financial support on a non-partisan basis to individuals who support the credit union movement in Washington and Idaho State legislative offices, Washington and Idaho State elected executive positions, or Washington and Idaho State Supreme Court Justices. 0 0 0 17743166 17743166 0 54981456 18711842 36269614 0 2847896 1559487 1288409 0 47882412 28160546 19721866 0 3078780 999156 2079624 77102679 0 Deposit Accounts - Money Market 1111551703 Deposit Accounts - Share Certificates 617023171 Deposit Accounts - Checking 856311197 Deposit Accounts - Savings 726873466 Deposit Accounts - IRA Shares 58364379 Deposit Accounts - IRA Certificates 73277916 3443401832 X 177372392 107563 0 0 0 107563 177264829 0 393970 393970 177658799 143059276 0 0 0 0 0 143059276 0 393971 393971 143453247 Schedule D, Part X, Line 2 The Credit Union is exempt under IRC 5019 (c) 14, from federal and state income taxes. Certain products and services provided by select state chartered credit unions have been determined by the Internal Revenue Service (IRS), in technical advice memorandums (TAMs) released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the TAMs the net taxable income from these have been successful in having courts declare in 2009 and 2010 that revenue from insurance and investment products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the IRS position in the TAMs. The Credit Union has filed tax returns for years 2006 through 2019 for activities deemed taxable. The Credit Union adopted the income tax standard for uncertain tax positions on January 1, 2009. As a result of implementation, the Credit Union evaluated its tax position and determined no uncertain tax positions exists as of December 31, 2020. Schedule D, Part XI, Line 4b Rental expenses $393,971 (rounded down $1 for balancing) Schedule D, Part XII, Line 4b Rental expense $393,971 X 1 1 X X X X X 1 1 0 Christopher Severin Vice President 46174 0 0 0 1157 0 10636 0 3391 0 61358 0 0 0 Tammy Fleiger Senior Vice President 203769 0 50010 0 3434 0 49626 0 64998 0 371837 0 0 21135 Evelyn Hopkins CAO 324719 0 0 0 0 0 20163 0 3785 0 348667 0 0 0 Laura Wood Senior Vice President 189468 0 46031 0 3056 0 46189 0 61562 0 346306 0 0 19122 David Flood CLO 260070 0 59964 0 4650 0 58312 0 7303 0 390299 0 0 24802 Lindsey Myhre CFO 326701 0 74702 0 4930 0 65625 0 72928 0 544886 0 0 30048 Joseph Yetter Senior Vice President 39645 0 0 0 1180 0 0 0 2562 0 43387 0 0 0 Patricia Kelly Senior Vice President 218811 0 51155 0 5378 0 51822 0 59125 0 386291 0 0 21386 Ezra Eckhardt President and CEO 632822 0 214151 0 12756 0 147208 0 154511 0 1161448 0 0 95442 Patricia Baughman CDO 234971 0 54065 0 4663 0 39621 0 10560 0 343880 0 0 21638 Marty Dickinson CMO 189711 0 26125 0 4671 0 22167 0 29469 0 272143 0 0 0 Brian Scott Vice President 182828 0 41842 0 4269 0 43347 0 7303 0 279589 0 0 16815 Robyn Galtieri Vice President 155200 0 35409 0 4193 0 37199 0 39199 0 271200 0 0 14281 Scott Rabe Vice President 176468 0 42964 0 4421 0 44696 0 23655 0 292204 0 0 17291 Richard Lentz Vice President 161385 0 39966 0 4227 0 40877 0 62528 0 308983 0 0 16720 Patrick Enders Home Loan Officer 211627 0 576 0 492 0 21344 0 28646 0 262685 0 0 0 Jennifer Cunnington Home Loan Officer 206197 0 675 0 4452 0 16800 0 25003 0 253127 0 0 0 Erin Halleman Home Loan Officer 193931 0 508 0 513 0 19953 0 33516 0 248421 0 0 0 Darren McNannay Director Real Estate 170796 0 26711 0 1055 0 32776 0 40700 0 272038 0 0 11162 Brendan Wiechert Director Commercial Lending 167229 0 26167 0 2097 0 31961 0 32517 0 259971 0 0 10901 Richard W Stanley Director 15125 0 0 0 0 0 0 0 0 0 15125 0 0 0 Adriane L Hanley Director 15125 0 0 0 0 0 0 0 0 0 15125 0 0 0 Brian Myers Director 1092 0 0 0 0 0 0 0 0 0 1092 0 0 0 Steven Jones Director 15125 0 0 0 0 0 0 0 0 0 15125 0 0 0 Dennis Michael Rennaker Director 15125 0 0 0 0 0 0 0 0 0 15125 0 0 0 Dolores Humiston Director 16762 0 0 0 0 0 0 0 0 0 16762 0 0 0 Catherine Brazil Director 15125 0 0 0 0 0 0 0 0 0 15125 0 0 0 Chris Morlan Chairman 21050 0 0 0 0 0 0 0 0 0 21050 0 0 0 Kathryn Dobson Chairwoman 11344 0 0 0 0 0 0 0 0 0 11344 0 0 0 Kevin Spohr Supervisory Com 7562 0 0 0 0 0 0 0 0 0 7562 0 0 0 Janet McCann Supervisory Com 7562 0 0 0 0 0 0 0 0 0 7562 0 0 0 Jeffrey Perkins Director 15125 0 0 0 0 0 0 0 0 0 15125 0 0 0 Justin Botejue Director 11850 0 0 0 0 0 0 0 0 0 11850 0 0 0 Schedule J, Part I, Line 1a The Credit Union will reimburse board members for travel for companions to conferences. These reimbursements are treated as taxable events and included on the board member's year end tax forms. Schedule J, Part I, Line 4 The Credit Union has deferred compensation agreements with select members of the executive management team that provide benefits payable to these employees if they remain employed by the Credit Union for specified years of service. The benefits are subject to forfeiture if employment is terminated for a cause as defined in the agreements. The Credit Union is accruing the estimated liability under the agreements on a present value basis over the remaining years until the eligible employees attain the specified number of years of service. The following employees were participants in the 457f deferred compensation agreements and the Credit Union accrued the following amounts in 2020: Ezra Eckhardt: $63,558. Additionally Evelyn Hopkins was paid out the following in 2020 $127,608 in severance pay and $197,111 for her final 457F distribution. Lindsey Myhre, David Flood and Marty Dickinson participate in a nonqualified plan. Form 990, Part VI, Section A, Line 6 STCU is a state chartered credit union organized under the provisions of the Washington Credit Union Act. The membership base of STCU consists of people who live, work, worship, or attend school in the State of Washington or counties in Northern Idaho. STCU members elect the board of directors and the supervisory committee members. Form 990, Part VI, Section A, Line 7a STCU members elect directors and the supervisory committee. Each serves a three year term. The nine members of the board of directors set direction and policy for STCU and hire, evaluate and set compensation for the president of STCU. The supervisory committee consists of three members who are responsible for ensuring the completion of required audits and member account verification. Elections for both directors and supervisory committee member positions are held each February. Form 990, Part VI, Section B, Line 11b The form 990 is prepared by the Director of Accounting. It is reviewed by the Vice President of Accounting and Finance, Chief Financial Officer/Executive Vice President, and by the Chief Executive Officer, the form 990 is reviewed with the board of directors prior to filing. Form 990, Part VI, Section B, Line 12c Members of the board of directors, supervisory committee and any affiliate members will be required to review the Code of Ethics and Personal Conduct Policy and sign the acknowledgement and agree on the Conflict of Interest Disclosure form on an annual basis. These will be reviewed by the board chair and vice chair. Any conflict on interest concerns will be reviewed by the board executive committee. In the event a conflict exists in the judgement of the board executive committee, the board chair or vice chair and the board member will take appropriate steps to eliminate the conflict. Members of the executive management are required to complete on an annual basis a Conflict of Interest Disclosure form. The chair and vice chair of the board of directors and the CEO are responsible to review the forms for any potential conflict of interest. In the event a conflict exists, the chair, vice chair, and CEO and the employee will take appropriate steps to resolve the conflict. Form 990, Part VI, Section B, Line 15 The board of directors is responsible for determining the compensation of the CEO. The executive compensation committee of the board of directors engages an outside compensation consultant to review the compensation of the CEO, provide data of comparable compensation for other similarly qualified position in the credit union or financial services industry and to assist in the review and/or development of the compensation philosophy. The executive compensation committee recommends the total compensation package for the CEO to the board of directors for approval. In order to attract and retain quality employees, STCU is committed to paying salaries which are non discriminatory equitable, and competitive with the salaries paid by other companies in our industry and surrounding area. The Human Resources department staff participates in a variety of annual salary surveys for other executive manager positions, key employees and all other staff positions and submits recommendations for any compensation adjustments to the CEO or the executive management team for approval and effective date of changes. Positions are evaluated to determine relevant job titles, job descriptions and salary ranges. Form 990, Part VI, Section C, Line 19 Governing documents, policies and financial statements may be requested by writing to Ezra Eckhardt, CEO, STCU, 1620 N Signal Dr, Liberty Lake, WA 99019. Form 990, Part XI, Line 9 Total change in available for sale market allowance $3,485,302. AgWest Financial LLC 1620 N Signal Dr Liberty Lake WA 99019 851742759 Agricultural Lending WA Spokane Teachers Credit Union S 20133 439108 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 AgWest Financial LLC d 384100 Outstanding loan balances AgWest Financial LLC b 366000 Net capital contribution from STCU to AgWest in 2020. Timely extension filed.