2020-05-27T21:17:21-05:00 2019-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2019-01-01 930444581 OREGON STATE CREDIT UNION OREG 5417144000 1980 NW 9TH STREET CORVALLIS OR 973390306 RICHARD HEIN PRESIDENT/CEO 5417144000 2020-05-26 1 DOUGLAS J ORTH P01076394 3052328272 104.11.88.150 2020-05-26 20:20:50 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2019 2021-04-22 16:20:28Z RICHARD HEIN 1980 NW 9TH STREET CORVALLIS OR 973390306 97287101 0 X WWW.OREGONSTATECU.COM X 1954 OR PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 9 2 369 0 679301 83386 0 0 46354204 54511176 3313734 4086871 10198467 10473560 59866405 69071607 217659 244910 0 0 21347032 24059405 0 0 0 24384785 23518816 45949476 47823131 13916929 21248476 1316827425 1393221089 1176957576 1229162623 139869849 164058466 PROVIDES FINANCIAL SERVICES TO MEMBERSHIP. 0 0 THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. AS OF DECEMBER 31, 2019 THE CREDIT UNION HAD APPROXIMATELY 119,736 MEMBERS, OF WHICH 59,129 MEMBERS HAVE ACTIVE LOANS. THE TOTAL NUMBER OF DEPOSIT AND SHARE ACCOUNTS WAS 242,447 AND THE TOTAL NUMBER OF LOANS OUTSTANDING WAS 78,920. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 23112 0 1 369 1 1 1 0 0 0 0 0 0 0 0 0 X 9 2 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X BONNIE HUMPHREY-ANDERSON 5417144000 4800 SW RESEARCH WAY CORVALLIS OR 97333 NADINE DAVISON DIRECTOR 1.00 X 14000 0 0 TIM ROCAK DIRECTOR 1.00 X 14500 0 0 JAY CONROY DIRECTOR 1.00 X 16000 0 0 MIKE GREEN DIRECTOR 1.00 X 14000 0 0 THOMAS ELZINGA DIRECTOR 1.00 X 15500 0 0 SHANNON CRUZ CHAIRMAN 1.00 X 20000 0 0 ANA LUCIA FONSECA TAPIA DIRECTOR 1.00 X 0 0 0 REBECCA BADGER DIRECTOR 1.00 X 7000 0 0 KELLEY KAISER DIRECTOR 1.00 X 14000 0 0 RICHARD HEIN PRESIDENT/CEO 40.00 X 1040700 0 168883 BONNIE HUMPHREY-ANDERSON EXECUTIVE VP/CFO 40.00 X 842188 0 202576 RHONDA HEILE-BROWN EXECUTIVE VP/COO 40.00 X 305608 0 122663 CRAIG COLE EVP/CIO 40.00 X 237292 0 154277 JAMES ALAN PATTERSON EVP/CCXO 40.00 X 119251 0 7945 DEBRA RIGGLE VP FINANCIAL SERVICES 40.00 X 215405 0 36788 JAMES GIBSON VP BRANCH SERVICES 40.00 X 193821 0 64121 JAIMY HERBERT EXT MORG LN OFFICER 40.00 X 253307 0 39380 SUZANNE HENDRICKS POOLE EXTMORG LN SERVICES 40.00 X 201061 0 23900 JOSH WHISENHUST DIRECTOR OF BUSINESS SERVICES 40.00 X 154395 0 27287 LAURIE ROE VP ORGANIZATION DEVELOPMENT 40.00 X 174937 0 30589 BOBBIE WARNER AVP FINANCE 40.00 X 156672 0 28588 4009637 0 906997 31 0 1 0 GERDING BUILDERS LLC PO BOX 1082 CORVALLIS OR 97339 CONSTRUCTION OF BRANCH 2311406 VISA USA PO BOX 742233 LOS ANGELES CA 90074 VISA DEBIT AND CREDIT PROCESSING 1251246 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT PROCESSING 1222756 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING 1048361 COOP 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 ATM DEBIT CARD PROCESSING 838085 30 INCOME ON LOANS 522100 49289275 49289275 FEES AND CHARGES 522100 4542600 4542600 UNRELATED BUSINESS INCOME 900099 397235 397235 UNRELATED BUSINESS INCOME 524298 174936 174936 UNRELATED BUSINESS INCOME 900099 103078 103078 4052 4052 54511176 4113001 4113001 28095535 93829 28101893 113601 -6358 -19772 -26130 -26130 INTERCHANGE INCOME 522100 7396909 7396909 OTHER INCOME 522100 1930032 1930032 MORTGAGE SERVICING RIGHTS 522100 1146619 1146619 10473560 69071607 64279305 679301 4113001 X 226910 18000 3826518 12632847 1683867 4494854 1421319 47206 178140 19565 3156757 1198833 2645410 1262817 2477737 59343 193410 4855778 2045625 133903 PROVISION FOR LOAN LOSS 2584427 OTHER LOAN EXP 2303283 ATM EXPENSES 157812 OPERATING FEES 129458 69312 47823131 14354417 15138590 52392755 68656591 293701 472886 1049729733 1041754270 1303722 1556112 58329327 18141765 38061072 40187562 120426966 183772246 3527268 2180768 36737791 39502064 1316827425 1393221089 14924239 19070985 1647162 3398717 37502740 1122883435 1206692921 1176957576 1229162623 X 0 0 0 0 139869849 0 139869849 164058466 1316827425 1393221089 X 21248476 3123532 -183391 X X 0 1 X 1 0 10000 10000 10000 1 OREGON'S CREDIT UNION LEGISLATIVE ACTION FUND 18000 INTERNATIONAL BLVD SUITE 35 SEATAC WA 98188 930953556 10000 0 1 X 8140967 8140967 35768400 7960892 27807508 714579 509755 204824 13705381 9671118 4034263 40187562 SHARE DRAFTS 315367355 SHARES 244963782 MONEY MARKET ACCOUNTS 497693223 IRA/HEALTH SAVINGS ACCOUNTS 22110107 SHARE AND IRA CERTIFICATES 125764454 NON MEMBER CERTIFICATE ACCOUNTS 794000 1206692921 X PART IV, LINE 2B: THE CREDIT UNION COLLECTS (ON A MONTHLY BASIS) PAYMENT FROM THEIR MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INLCUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISION OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN IRC SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2018, 2017, AND 2016 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. 1 WESTERN OREGON UNIVERSITY FOUNDATION 345 MONMOUTH AVE N MONMOUTH OR 97361 936033807 501(C)(3) 11500 DONATION FOR GENERAL SUPPORT AND FOR SCHOLARSHIPS CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84101 870387205 501(C)(3) 34000 DONATION TO LOCAL CHILDRENS HOSPITAL VIA NATIONAL CHARITY LINN-BENTON COMMUNITY COLLEGE 6500 PACIFIC BLVD SW ALBANY OR 97321 237212073 501(C)(3) 11500 SCHOLARSHIP SUPPORT OREGON STATE UNIVERSITY FOUNDATION 850 SW 35 STREET CORVALLIS OR 97333 936022772 501(C)(3) 17000 DONATION TO BUILDING CAMPAIGN AND SCHOLARSHIP SUPPORT BOY & GIRLS CLUB OF CORVALLIS 1112 NW CIRCLE BLVD CORVALLIS OR 97330 237153987 501(C)(3) 7000 DONATION TO BUILDING CAMPAIGN CORVALLIS CHAMBER 420 NW SECOND STREET CORVALLIS OR 97330 930147668 501(C)(6) 8000 OPERATIONAL SUPPORT 5 1 SCHOLARSHIPS 10 18000 BOOK PART I, LINE 2: EACH SCHOLARSHIP RECIPIENT MUST PROVIDE PROOF OF FALL ENROLLMENT AT COLLEGE OR UNIVERSITY. THE SELECTION AND AWARD PROCESS IS DOCUMENTED IN CREDIT UNION'S POLICIES/PROCEDURES. RECORDS OF SELECTION IS MAINTAINED FOR A MINIMUM OF THREE YEARS. X X X X 0 1 0 RICHARD HEIN PRESIDENT/CEO 576951 0 110600 0 353149 0 32900 0 135983 0 1209583 0 339600 0 BONNIE HUMPHREY-ANDERSON EXECUTIVE VP/CFO 327579 0 66498 0 448111 0 32900 0 169676 0 1044764 0 440000 0 RHONDA HEILE-BROWN EXECUTIVE VP/COO 249927 0 50189 0 5492 0 32900 0 89763 0 428271 0 0 0 CRAIG COLE EVP/CIO 195026 0 42266 0 0 0 29445 0 124832 0 391569 0 0 0 DEBRA RIGGLE VP FINANCIAL SERVICES 185353 0 29492 0 560 0 26562 0 10226 0 252193 0 0 0 JAMES GIBSON VP BRANCH SERVICES 166067 0 27754 0 0 0 24532 0 39589 0 257942 0 0 0 JAIMY HERBERT EXT MORG LN OFFICER 250288 0 3019 0 0 0 29764 0 9616 0 292687 0 0 0 SUZANNE HENDRICKS POOLE EXTMORG LN SERVICES 197798 0 3263 0 0 0 23900 0 0 0 224961 0 0 0 JOSH WHISENHUST DIRECTOR OF BUSINESS SERVICES 142403 0 11992 0 0 0 17370 0 9917 0 181682 0 0 0 LAURIE ROE VP ORGANIZATION DEVELOPMENT 154901 0 20036 0 0 0 20475 0 10114 0 205526 0 0 0 BOBBIE WARNER AVP FINANCE 139119 0 17553 0 0 0 18564 0 10024 0 185260 0 0 0 PART I, LINE 4B SOME MEMBERS OF THE EXECUTIVE LEADERSHIP PARTICIPATE IN NON-QUALIFIED RETIREMENT PLANS. THE FOLLOWING REPRESENT THE AMOUNTS ACCRUED FOR EACH PARTICIPANT DURING THE YEAR ENDED DECEMBER 31, 2019: R. HEIN, 457F SERP $125,649 B. HUMPHREY-ANDERSON, 457F SERP $159,475 R. HEILE-BROWN, 457F SERP $79,552 C. COLE, 457F SERP $114,546 J. GIBSON, 457F SERP $29,403 THE FOLLOWING MEMBERS OF THE EXECUTIVE LEADERSHIP RECEIVED PAYOUTS RELATED TO THEIR NON-QUALIFIED RETIREMENT PLANS DURING THE YEAR ENDED DECEMBER 31, 2019: R. HEIN, TAXES PAID ON VESTED PORTION OF 457F SERP $339,600 (ADDITIONAL $167,559 DISBURSED FROM CURRENT EXPENSE TO COVER TAXES) B. HUMPHREY-ANDERSON, TAXES PAID ON VESTED PORTION OF 457F SERP $440,000 (ADDITIONAL $217,140 DISBURSED FROM CURRENT EXPENSE TO COVER TAXES) FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE FORM 990 IN DETAIL BEFORE FILING. ADDITIONALLY, THE FORM 990 IS PROVIDED TO THE MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO FILING. THE MEMBERS OF THE BOARD OF DIRECTORS ARE GIVEN SUFFICIENT TIME TO SUBMIT ANY QUESTIONS REGARDING THE RETURN AS WELL AS RECEIVE ANSWERS TO THEIR QUESTIONS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS ENFORCED IN TWO WAYS - 1) UPON HIRING, EMPLOYEES ARE REQUIRED TO READ AND CERTIFY THEIR ACCEPTANCE OF THE POLICY, AND 2) ANNUALLY EXPECTATIONS INCLUDING CONFLICT OF INTEREST ARE REVIEWED WITH ALL STAFF INCLUDING A REMINDER TO UPDATE DISCLOSURE OF CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THIRD PARTY SALARY FOR THE CEO POSITION AND WORKS WITH THIRD PARTY TO PREPARE A PERFORMANCE REVIEW AND COMPENSATION PLAN. THIRD PARTY SALARY INFORMATION IS USED TO CREATE SALARY RANGES AND PERFORMANCE INCREASES ARE DETERMINED WITHOUT THIRD PARTY ASSISTANCE. FOR OTHER KEY POSITIONS, THIRD PARTY SALARY INFORMATION IS USED TO CREATE SALARY RANGES. PERFORMANCE INCREASES ARE DETERMINED WITHOUT THIRD PARTY ASSISTANCE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E 69,312. FORM 990, PART XI, LINE 9: UNREALIZED HOLDING GAINS ON POST RETIREMENT BENEFIT ASSETS -189,749. RECLASSIFICATION ADJUSTMENT FOR NET INVESTMENT LOSSES INLCUDED IN NET INCOM 6,358. PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT AUDITORS. OSU FINANCIAL SERVICES LLC 4800 SW RESEARCH WAY CORVALLIS OR 97339 931101064 INSURANCE PRODUCTS OR 174936 177870 OREGON STATE CREDIT UNION