2021-10-21T17:28:09-05:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-01-01 910639210 O BEE CREDIT UNION CRED 3609430740 649 WOODLAND SQUARE LOOP SE NO 10 LACEY WA 98503 DANIEL HILDRETH VP OF FINANCE 3609430740 2021-10-20 1 DANIEL HILDRETH 999009999 MARY C GREEN P00447183 6022662248 2021-10-20 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JAMES COLLINS 649 WOODLAND SQUARE LOOP SE NO 100 LACEY WA 98503 23627631 0 X WWW.OBEE.COM X 1955 WA CREDIT UNION IN THE STATE OF WASHINGTON. PROVIDE FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 9 9 147 16 54141 0 0 0 22505899 23516063 224901 82268 0 0 22730800 23598331 18000 22750 1506032 1387915 7594117 8929646 0 0 0 11586916 11164963 20705065 21505274 2025735 2093057 333001857 421638694 306304883 392848663 26696974 28790031 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, CONSUMER LOANS, SHARE CERTIFICATES AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 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 9288 0 147 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 1 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 WILFORD SAUNDERS CHAIR 4.00 0.00 X X 0 0 0 CHRISTY KRIEGSMAN 1ST VICE CHAIR 4.00 0.00 X X 0 0 0 JUDITH WEEKS 2ND VICE CHAIR 4.00 0.00 X X 0 0 0 MIRIAM BAUSCH DIRECTOR 4.00 0.00 X 0 0 0 STEVE BLANKENSHIP DIRECTOR 4.00 0.00 X 0 0 0 PRABAKARAN MANOHARAN DIRECTOR 4.00 0.00 X 0 0 0 JASON GORDON DIRECTOR 4.00 0.00 X 0 0 0 JERRY MURPHY DIRECTOR 4.00 0.00 X 0 0 0 PHIL WAYT DIRECTOR 4.00 0.00 X 0 0 0 JAMES COLLINS CEO/TREASURER 40.00 0.00 X 252299 0 19944 JENNIFER ROBERTS-ECHTLE COO/SECRETARY 40.00 0.00 X 143295 0 23902 DANIEL HILDRETH VP FINANCE 40.00 0.00 X 121322 0 18064 DAVID ECHTLE CLO 40.00 0.00 X 154801 0 24823 JOLEE ROBERTS-YUNKER MORTGAGE LOAN OFFICER 40.00 0.00 X 219703 0 8991 MICHAEL LINDSEY MORTGAGE LOAN OFFICER 40.00 0.00 X 205561 0 17293 TIMOTHY TIMMER COMMERCIAL LOAN OFFICER 40.00 0.00 X 204303 0 12141 JEREMY FRANKLIN MORTGAGE LOAN OFFICER 40.00 0.00 X 197623 0 12711 DAVID LITTLETON FINANCIAL ADVISOR 40.00 0.00 X 155341 0 16980 1654248 0 154849 9 0 1 0 FIS 601 RIVERSIDE AVENUE JACKSONVILLE FL 32204 CARD PROCESSOR 1121452 CONSTRUCT INC 855 TROSPER ROAD SUITE 108-345 TUMWATER WA 98512 CONSTRUCTION 466735 JACK HENRY AND ASSOCIATES 663 W HIGHWAY 60 MONETT MO 65708 DATA PROCESSING 386607 COOK SECURITY GROUP 6501 E TRENT AVENUE SUITE I SPOKANE VALLEY WA 99212 ATM AND EQUIPMENT SERVICING 365369 THURSTON COUNTY TITLE 105 E 8TH AVENUE OLYMPIA WA 98501 REAL ESTATE TITLE SERVICES 127721 5 LOAN INTEREST AND FEES 522100 23516063 23461922 54141 23516063 169 169 111399 29300 82099 82099 82099 23598331 23461922 54141 82268 22750 1387915 758450 4882157 570939 2171071 547029 26088 60268 554177 352670 827326 599994 1377402 7739 23190 74722 689829 62897 PROVISION FOR LOAN LOSS 3161790 CREDIT CARD EXPENSES 1453851 OPERATING EXPENSES 855961 LOAN EXPENSES 411272 625787 21505274 7207484 8596329 16098896 80977936 824384 772671 294104296 316292433 625844 459277 16178432 7704354 8527780 8474078 1087790 1143705 4525383 4922265 333001857 421638694 6106354 6401969 517635 307261 4000000 3000000 295680894 383139433 306304883 392848663 X 0 0 0 0 26696974 28790031 26696974 28790031 333001857 421638694 2093057 0 X 0 0 0 1385995 1385995 7601923 2999032 4602891 7190514 4705322 2485192 8474078 MEMBER SHARE AND DEPOSIT ACCOUNTS 383139433 383139433 1 COLLEGE SCHOLARSHIPS 7 22750 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 251399 0 0 0 900 0 7803 0 12141 0 272243 0 0 0 JOLEE ROBERTS-YUNKER MORTGAGE LOAN OFFICER 37777 0 181926 0 0 0 6232 0 2759 0 228694 0 0 0 MICHAEL LINDSEY MORTGAGE LOAN OFFICER 31700 0 172661 0 1200 0 5172 0 12121 0 222854 0 0 0 TIMOTHY TIMMER COMMERCIAL LOAN OFFICER 89806 0 114497 0 0 0 0 0 12141 0 216444 0 0 0 JEREMY FRANKLIN MORTGAGE LOAN OFFICER 44421 0 153202 0 0 0 5070 0 7641 0 210334 0 0 0 DAVID ECHTLE CLO 143960 0 8323 0 2518 0 13495 0 11328 0 179624 0 2518 0 DAVID LITTLETON FINANCIAL ADVISOR 54027 0 101314 0 0 0 4839 0 12141 0 172321 0 0 0 JENNIFER ROBERTS-ECHTLE COO/SECRETARY 133810 0 7459 0 2026 0 11781 0 12121 0 167197 0 2026 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 2020: DAVID ECHTLE, CLO - $8,708 JENNIFER ROBERTS-ECHTLE, COO/SECRETARY - $8,150 THE FOLLOWING EMPLOYEES RECEIVED DISTRIBUTIONS FROM THIS PLAN DURING 2020: DAVID ECHTLE, CLO - $2,518 JENNIFER ROBERTS-ECHTLE, COO/SECRETARY - $2,026 MIRIAM BAUSCH DIRECTOR CREDIT CARD X 10000 20 0 1 1 STEVE BLANKENSHIP DIRECTOR CREDIT CARD X 9000 6645 0 1 1 STEVE BLANKENSHIP DIRECTOR HELOC X 69918 68199 0 1 1 JAMES COLLINS CEO CREDIT CARD X 6986 6336 0 1 1 JAMES COLLINS CEO CREDIT CARD X 35000 2273 0 1 1 JAMES COLLINS CEO HELOC X 190183 140117 0 1 1 JAMES COLLINS CEO HELOC X 114000 70618 0 1 1 DAVID ECHTLE CHIEF LENDING OFFICER CREDIT CARD X 10304 15 0 1 1 DAVID ECHTLE CHIEF LENDING OFFICER HELOC X 20406 9229 0 1 1 JASON GORDON DIRECTOR HELOC X 97576 97576 0 1 1 DANIEL HILDRETH VP OF FINANCE AUTO LOAN X 18505 5136 0 1 1 DANIEL HILDRETH VP OF FINANCE AUTO LOAN X 24491 19733 0 1 1 DANIEL HILDRETH VP OF FINANCE CREDIT CARD X 10000 1143 0 1 1 CHRISTY KRIEGSMAN DIRECTOR HELOC X 249825 231646 0 1 1 JERRY MURPHY DIRECTOR CREDIT CARD X 5025 937 0 1 1 JENNIFER ROBERTS-ECHTLE COO HELOC X 84976 81994 0 1 1 JENNIFER ROBERTS-ECHTLE COO AUTO LOAN X 26736 22943 0 1 1 JENNIFER ROBERTS-ECHTLE COO CREDIT CARD X 2279 2000 0 1 1 JENNIFER ROBERTS-ECHTLE COO CREDIT CARD X 8385 3511 0 1 1 WILFORD SAUNDERS DIRECTOR CREDIT CARD X 7092 2600 0 1 1 772671 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 4 THE BYLAWS WERE AMENDED FOR TAX YEAR 2020. THE FOLLOWING CHANGES INCLUDE: - NOTICE OF ANNUAL MEMBERSHIP MEETINGS WILL BE DISTRIBUTED 45 DAYS PRIOR TO THE MEETING INSTEAD OF 75 DAYS PRIOR. - 25 MEMBERS SHALL CONSTITUTE A QUORUM INSTEAD OF 50 MEMBERS. - ADDITIONAL LANGUAGE HAS BEEN ADDED TO SECTION 5, VOTING: MEMBERS MAY VOTE IN PERSON OR THROUGH THE USE OF MAIL OR ELECTRONIC BALLOT AS PERMITTED BY THE BOARD IN ACCORDANCE WITH WRITTEN MEETING PROCEDURES OR ELECTION GUIDELINES. 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.