2020-11-10T11:03:03-07:00 2019-12-31 990 2019-01-01 910565128 SPOKANE TEACHERS CREDIT UNION SPOK 5093261954 1620 N Signal Drive Liberty Lake WA 99019 Brian Scott VP of Accounting and Finance 5093261954 2020-11-10 8.20.119.12 2019 2021-04-22 16:20:28Z Brian Scott 1620 N Signal Dr Liberty Lake WA 99019 501628943 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 200,692 members as of 12/31/19. 9 9 821 8 232676 232676 87510 84893 141692433 153157827 4947622 7146945 -221198 -49290 146506367 160340375 1055146 0 14406974 21630845 51936948 57577774 0 0 0 47186790 48959735 114585858 128168354 31920509 32172021 2986315665 3290019279 2669350185 2937916749 316965480 352102530 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 200,692 members as of 12/31/19. 0 0 STCU has outstanding loans of $2,881,051,004 at December 31, 2019, representing 129,603 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, 2019, STCU had total share and deposit balances of $2,640,413,295 representing 320,077 individual accounts. STCU paid members dividends on their share and deposit accounts $21,661,427 in 2019. 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 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 210749 0 1 821 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 750171 0 138272 Lindsey Myhre CFO 40 0 X 453300 0 65129 David Flood CLO 40 0 X 382487 0 59883 Evelyn Hopkins CAO 40 0 X 326541 0 27709 Tammy Fleiger Vice President 40 0 X 246036 0 61111 Patricia Kelly Vice President 40 0 X 250539 0 51319 Laura Wood Vice President 40 0 X 215865 0 56119 William Lusk Financial Advisor 40 0 X 244090 0 27511 Brandon Reed Home Loan Officer 40 0 X 248197 0 4882 Patricia Baughman CDO 40 0 X 209006 0 31294 Scott Rabe Vice President 40 0 X 179866 0 59641 Christie Moore Comml Banking Manager 40 0 X 193622 0 39063 Richard Lentz Vice President 40 0 X 173247 0 56121 Brian Scott Vice President 40 0 X 187062 0 42215 Darren McNannay Director Real Estate 40 0 X 186138 0 37399 Brendan Wiechert Director Comml Lending 40 0 X 181143 0 38413 Robyn Galtieri Vice President 40 0 X 155570 0 30956 Barbara Richey Vice President 40 0 X X 140612 0 17397 Belinda Caillouet COO/CIO 40 0 X X 137628 0 0 Sean Watt Vice President 40 0 X X 73271 0 0 Marty Dickinson CMO 40 0 X 27386 0 590 Dolores Humiston Chairwoman 2 0 X 17706 0 0 Wally Stanley Director 2 0 X 13841 0 0 Chris Morlan Vice Chair 2 0 X 13765 0 0 Catherine Brazil Director 2 0 X 12200 0 0 Dennis Michael Rennaker Director 2 0 X 12200 0 0 Steven Jones Director 2 0 X 12200 0 0 Adriane L Hanley Director 2 0 X 9825 0 0 Brian Myers Director 2 0 X 9825 0 0 Jeffrey Perkins Director 2 0 X 9250 0 0 Kathryn Dobson Chairwoman 2 0 X 8556 0 0 Janet McCann Supervisory Com 2 0 X 6363 0 0 Kevin Spohr Supervisory Com 2 0 X 6246 0 0 Nick Leute Director 2 0 X X 3467 0 0 Terri Alvarado Director 2 0 X X 2375 0 0 Robert Loomis Director 2 0 X X 2375 0 0 5101971 0 845024 83 1 1 0 Smart Source Critial Communications LLC 26001 Pala Mission Viejo CA 92691 Printing and Mailing 1746797 Paine Hamblen LLP 717 W Sprague Ave Suite 1200 Spokane WA 99201 Legal and Collection Services 185241 Dee's Landscaping & Lawn Service LLC 11414 W Newkirk Rd Spokane WA 99224 Landscaping Services 122151 Michael A Smith PO Box 10803 Spokane WA 99209 Real Estate Appraisal 106400 4 0 84893 0 0 0 0 0 84893 Loan Interest Income 522100 126469484 126469484 0 0 Fees and Service Charges 522100 23560919 23328243 232676 0 Loan Svc and Origination 522100 3127424 3127424 0 0 0 0 0 0 153157827 6302819 6302819 0 0 0 0 0 0 0 0 0 0 409109 0 458399 0 -49290 0 -49290 -49290 0 0 0 341674295 0 340830169 0 844126 844126 844126 0 0 0 0 160340375 160022806 232676 0 0 0 0 21630845 4610473 0 37819029 3236422 8380395 3531455 0 65084 202257 0 0 0 2490978 4624931 1686794 4216842 0 3571127 0 0 1110380 5384820 0 5346595 0 Processing Expense 8214918 Provision for Loan Loss 9168528 Loan Servicing Expense 2386231 Postage and Shipping 1122173 -631923 128168354 0 0 0 22677699 22113995 118178187 119458297 0 0 463791 581461 0 0 0 0 2574746503 2857808348 0 0 12945711 10497549 121520179 49836575 67696905 71683604 132953711 142915717 16002000 15970600 0 0 458357 458357 40192801 48531351 2986315665 3290019279 23413752 25411029 0 0 0 1532141 0 0 4008607 5220580 0 0 267258598 265339704 0 0 2374669228 2640413295 2669350185 2937916749 X 0 0 0 0 316965480 352102530 316965480 352102530 2986315665 3290019279 X 32172021 111293 0 0 0 2853736 X 1 X 1 X 1 0 39635 0 39635 0 39635 1 Credit Union Legislative Action Fund 33301 9th Ave STE 200 Federal Way WA 98003 800043051 39635 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 State legislative offices, Washington State elected executive positions, or Washington State Supreme Court Justices. 0 0 0 17743166 17743166 0 54631593 17281697 37349896 0 2818382 1324486 1493896 0 43407584 30394224 13013360 0 2919454 836168 2083286 71683604 0 Deposit Accounts - Money Market 852390383 Deposit Accounts - Share Certificates 622464526 Deposit Accounts - Checking 561592374 Deposit Accounts - Savings 480630058 Deposit Accounts - IRA Shares 54998959 Deposit Accounts - IRA Certificates 68336995 2640413295 X 159993269 111293 0 0 0 111293 159881976 0 458399 458399 160340375 127709955 0 0 0 0 0 127709955 0 458399 458399 128168354 Schedule D, Part X, Line 2 FIN 48 From audited Financial Statements, Footnote Disclosure on Income Taxes: The Credit Union is exempt under IRC 501(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 2018 for activities they have 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, 2019. The Credit Union's 2010 through 2019 tax years are open from examination by federal and state taxing authorities. Schedule D, Part XI, Line 4b Rental expense $458,399 Schedule D, Part XII, Line 4b Rental expense $458,399 X 1 1 X X X X X 1 1 0 Belinda Caillouet COO/CIO 137628 0 0 0 0 0 0 0 0 0 137628 0 0 0 Tammy Fleiger Vice President 201850 0 39763 0 4423 0 46019 0 61111 0 353166 0 0 19182 Evelyn Hopkins CAO 276106 0 50015 0 420 0 20163 0 7546 0 354250 0 0 24538 Laura Wood Vice President 178702 0 34118 0 3045 0 41027 0 56119 0 313011 0 0 16162 David Flood CLO 332087 0 46258 0 4142 0 52802 0 7081 0 442370 0 0 22353 Lindsey Myhre CFO 392860 0 56015 0 4426 0 58048 0 65129 0 576478 0 0 26579 Barbara Richey Vice President 100169 0 38132 0 2311 0 13857 0 3540 0 158009 0 0 18080 Patricia Kelly Vice President 206814 0 38823 0 4902 0 44238 0 51319 0 346096 0 0 18807 Sean Watt Vice President 72751 0 0 0 520 0 0 0 0 0 73271 0 0 0 Ezra Eckhardt President and CEO 558534 0 179597 0 12040 0 117574 0 138272 0 1006017 0 0 84928 Patricia Baughman CDO 187778 0 16603 0 4626 0 21638 0 9656 0 240301 0 0 0 Marty Dickinson CMO 26616 0 0 0 770 0 0 0 590 0 27976 0 0 0 Brian Scott Vice President 162310 0 20198 0 4554 0 35134 0 7081 0 229277 0 0 9624 Robyn Galtieri Vice President 135838 0 17204 0 2528 0 28556 0 30956 0 215082 0 0 8302 Scott Rabe Vice President 154630 0 20905 0 4331 0 36282 0 23359 0 239507 0 0 10085 Richard Lentz Vice President 150520 0 20284 0 2444 0 34862 0 56121 0 264231 0 0 9893 William Lusk Financial Advisor 242238 0 0 0 1852 0 14263 0 27511 0 285864 0 0 0 Brandon Reed Home Loan Officer 245456 0 0 0 2741 0 3198 0 4882 0 256277 0 0 0 Christie Moore Comml Banking Manager 135090 0 57986 0 546 0 30954 0 39063 0 263639 0 0 30481 Darren McNannay Director Real Estate 164419 0 21107 0 612 0 29697 0 37399 0 253234 0 0 10253 Brendan Wiechert Director Comml Lending 160088 0 20827 0 228 0 29232 0 38413 0 248788 0 0 10014 Wally Stanley Director 12220 0 0 0 1641 0 0 0 0 0 13861 0 0 0 Adriane L Hanley Director 9825 0 0 0 0 0 0 0 0 0 9825 0 0 0 Brian Myers Director 9825 0 0 0 0 0 0 0 0 0 9825 0 0 0 Steven Jones Director 12200 0 0 0 0 0 0 0 0 0 12200 0 0 0 Dennis Michael Rennaker Director 12200 0 0 0 0 0 0 0 0 0 12200 0 0 0 Dolores Humiston Chairwoman 17706 0 0 0 0 0 0 0 0 0 17706 0 0 0 Robert Loomis Director 2375 0 0 0 0 0 0 0 0 0 2375 0 0 0 Catherine Brazil Director 12200 0 0 0 0 0 0 0 0 0 12200 0 0 0 Chris Morlan Vice Chair 12200 0 0 0 1565 0 0 0 0 0 13765 0 0 0 Nick Leute Director 3467 0 0 0 0 0 0 0 0 0 3467 0 0 0 Kathryn Dobson Chairwoman 8556 0 0 0 0 0 0 0 0 0 8556 0 0 0 Kevin Spohr Supervisory Com 6100 0 0 0 146 0 0 0 0 0 6246 0 0 0 Janet McCann Supervisory Com 6100 0 0 0 263 0 0 0 0 0 6363 0 0 0 Jeffrey Perkins Director 8733 0 0 0 517 0 0 0 0 0 9250 0 0 0 Terri Alvarado Director 2375 0 0 0 0 0 0 0 0 0 2375 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 a taxable event and included on the board member's 1099. 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 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 for each of them in 2019: Ezra Eckhardt: $60,014, Evelyn Hopkins: $92,748, Lindsey Myhre: $35,067, and David Flood: $32,353. Severance pay was paid out to three members of executive management team in 2018, Belinda Caillouet: $137,628 Evelyn Hopkins: $127,608 and Sean Watt: $72,581. 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 from 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 of 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 of comparable compensation for other similarly qualified positions 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 nondiscriminatory, 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 management 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 statement may be requested by writing to Ezra Eckhardt, CEO, STCU, 1620 N Signal Drive, Liberty Lake, WA 99019. Form 990, Part XI, Line 9 Total change in available for sale market allowance, $2,853,736 Filed extension - due 11/15/2020