2015-09-11T17:59:06-05:00 2014-12-31 910189318 MOSS ADAMS LLP 2707 COLBY AVENUE SUITE 801 EVERETT WA 98201 990 2014-01-01 910684272 NORTHWEST PLUS CREDIT UNION NORT 4252971000 2821 HEWITT AVENUE EVERETT WA 982013890 STEVE DIKLICH CFO 4252971000 2015-08-27 1 KRISTINE HOEFLIN P00786821 4252597227 2014 2016-02-25 16:41:14Z JASON GAMBLE 2821 HEWITT AVENUE EVERETT WA 982013890 21260918 0 X WWW.NWPLUSCU.COM X 1938 WA PROVIDE FINANCIAL SERVICES, SUCH AS LOANS, TO ANYONE WHO LIVES OR WORKS IN WASHINGTON. 9 9 54 13 41655 0 0 0 7357568 7445330 568445 392531 -3715 0 7922298 7837861 6000 8000 0 0 2856579 2868722 0 0 0 4180843 3872801 7043422 6749523 878876 1088338 150710349 156572135 134882794 139167657 15827555 17404478 TO PROVIDE FINANCIAL SERVICES, SUCH AS LOANS, CHECKING, AND SAVING PROGRAMS, TO ANYONE WHO LIVES, WORKS, OR WORSHIPS IN THE STATE OF WASHINGTON. 0 0 SINCE 1939, NW PLUS CREDIT UNION HAS PROVIDED FINANCIAL SERVICES TO THE EMPLOYEES AND FAMILY MEMBERS OF FRONTIER COMMUNICATIONS FORMERLY KNOWN AS GTE AND VERIZON. SINCE THEN, WE HAVE EXPANDED OUR CHARTER TO INCLUDE ANYONE WHO LIVES, WORKS OR WORSHIPS IN THE STATE OF WASHINGTON. NW PLUS CREDIT UNION'S EXISTENCE REFLECTS ITS MEMBERS' COMBINED INTERESTS TO BENEFIT THE GENERAL MEMBERSHIP IN THE LOCAL COMMUNITIES WE SERVE. WE PROVIDE A FULL SPECTRUM OF FINANCIAL PRODUCTS AND SERVICES AND RETURN THE PROFIT TO OUR MEMBERS, WITH LOWER LOAN RATES AND HIGHER SAVINGS RATES, LOW FEES, AND INNOVATIVE PRODUCTS. THIS DIRECT FINANCIAL VALUE IS GIVEN BACK TO OUR MEMBERS, INSTEAD OF BEING PAID TO A LIMITED NUMBER OF STOCKHOLDERS, OFFICERS, OR OUT-OF-STATE OWNERS, AS MANY BANKS DO. AS OF DECEMBER 31, 2014, NW PLUS CREDIT UNION HAD 16,848 MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 18 0 1 54 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X STEVE DIKLICH 4252971000 2821 HEWITT AVE EVERETT WA 98201 JASON GAMBLE CHAIRMAN 2.00 X X 0 0 0 BRAD JONES VICE CHAIRMAN 2.00 X X 0 0 0 MARY BALLARD TREASURER 2.00 X X 0 0 0 GARY HEILMAN SECRETARY 2.00 X X 0 0 0 WARREN KUWAHARA DIRECTOR 2.00 X 0 0 0 JOHN CONDERMAN DIRECTOR 2.00 X 0 0 0 JAMES DREIER DIRECTOR 2.00 X 0 0 0 KIM STONE DIRECTOR 2.00 X 0 0 0 DEBORAH HEHEISEL DIRECTOR 2.00 X 0 0 0 DOUGLAS BENNETT PRESIDENT & CEO 40.00 X 177728 0 168130 STEVE DIKLICH CFO 40.00 X 100168 0 13982 277896 0 182112 2 0 1 0 FISERV-EFT 255 FISERV DR BROOKFIELD WI 53045 CARD TRANSACTION SERVICES 355774 FISERV-GALAXY 255 FISERV DR BROOKFIELD WI 53045 CORE DATA PROCESSING SERVICES 285439 HABBERFELD DIRECT 206 S 13TH ST LINCOLN NE 68508 DIRECT MAIL-MARKETING 216082 PSCU P O BOX 31216 TAMPA FL 33631 CREDIT CARD TRANSACTION SERVICES 174199 FISERV-CHECK FREE 255 FISERV DR BROOKFIELD WI 53045 ON-LINE MEMBER BILL PAY PROCESSING & SUP 134478 5 LOAN INTEREST INCOME 522100 4750254 4750254 FEE INCOME 522100 2695076 2653421 41655 7445330 470766 470766 13344822 13321789 101268 23033 -101268 -78235 -78235 7837861 7403675 41655 392531 8000 460008 1928523 92537 175051 212603 4956 71580 524090 320919 665280 316629 397271 8680 82895 481138 371645 44933 PROVISION FOR LOAN LOSS 274489 LOAN SERVICING EXPENSE 59000 COLLECTION EXPENSE 54654 DUES AND SUBSCRIPTIONS 36700 157942 6749523 7623086 2439686 8258634 17653887 93487269 104546440 355915 534018 8944442 3858231 5457375 5086211 27946730 19098260 7581340 7213633 150710349 156572135 1626521 1816488 133256273 137351169 134882794 139167657 X 0 0 0 0 15827555 17404478 15827555 17404478 150710349 156572135 X 1088338 346254 142331 X 0 0 0 1711253 1711253 4587619 1693850 2893769 354870 168556 186314 1571334 1354375 216959 719366 641450 77916 5086211 78532 F AVAILABLE FOR SALE SECURITIES 19019728 F 19098260 MEMBERS SHARES AND DEPOSITS 137351169 137351169 1 COLLEGE SCHOLARSHIPS 6 8000 PART I, LINE 2: ALL SCHOLARSHIP WINNERS MUST FILL OUT A SCHOLARSHIP AWARD FORM DETAILING THEIR SCHOOL THEY WILL BE ATTENDING ALONG WITH THE ADDRESS THAT THE CHECK MUST BE SENT TO. OUR AVP MARKETING CREATES LETTERS TO EACH SCHOOL INSTRUCTING THE SCHOOL TO PUT THE FUNDS INTO THE STUDENTS' ACCOUNTS TO BE USED FOR THEIR NEEDS DURING THE SCHOOL YEAR. X X X X 0 1 0 DOUGLAS BENNETT PRESIDENT & CEO 166796 0 8273 0 2659 0 158630 0 9500 0 345858 0 0 0 PART I, LINE 4B THE CREDIT UNION ENTERED INTO A DEFERRED COMPENSATION AGREEMENT UNDER IRC SECTION 457(F) WITH A SENIOR OFFICER ON OCTOBER 17, 2001. UNDER THE AMENDED PLAN, IF THE OFFICER IS EMPLOYED BY THE CREDIT UNION ON HIS 68TH BIRTHDAY, HE WILL RECEIVE A LUMPSUM BENEFIT DISTRIBUTION OF $1,148,114. IF THE OFFICER WERE TO BECOME DISABLED, INVOLUNTARILY TERMINATED WITHOUT CAUSE, OR VOLUNTARILY SEPARATED FOR GOOD REASON PRIOR TO ALL OF THE PROMISED PLAN DISTRIBUTIONS BEING MADE, THE CREDIT UNION WOULD PAY THE OFFICER A BENEFIT EQUAL TO THE ACCRUED LIABILITY BALANCE OF THE OFFICER'S 457(F) ACCOUNT AT THE TIME OF TERMINATION. THE PAYMENT OF THE ACCRUED BALANCE WILL BE MADE IN A LUMP SUM AND THE PLAN SHALL TERMINATE. THE RELATED LIABILITY WAS $414,227 AND $266,255 AT DECEMBER 31, 2014 AND 2013, RESPECTIVELY. IF THE OFFICER WERE TO DIE WHILE ACTIVELY EMPLOYED WITH THE CREDIT UNION AND PRIOR TO THE PROMISED PLAN DISTRIBUTION BEING MADE, THE OFFICER'S BENEFICIARY WOULD RECEIVE A LUMPSUM DISTRIBUTION EQUAL TO THE TARGET RETIREMENT AGE DISTRIBUTION. IF THE OFFICER LEAVES THE CREDIT UNION VOLUNTARILY, OR IS TERMINATED FOR CAUSE PRIOR TO REACHING THE DISTRIBUTION DATE, ALL REMAINING BENEFITS WILL BE FORFEITED. FORM 990, PART VI, SECTION A, LINE 6 CREDIT UNION MEMBERS ARE MEMBERS OF A FINANCIAL COOPERATIVE. EACH DEPOSITOR IS REQUIRED TO BE A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERS ELECT MEMBERS TO THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS INITIALLY REVIEWED BY THE CEO AND CFO BEFORE BEING PRESENTED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW. THE BOARD OF DIRECTORS COMPLETES THEIR FINAL REVIEW BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT, WHICH DEFINES FIDUCIARY DUTY. MANAGEMENT REVIEWS ALL VENDORS FOR POTENTIAL OWNERSHIP INTEREST BY BOARD MEMBERS OR RELATED PARTIES AS PART OF THE VENDOR APPROVAL PROCESS. NO DIRECTOR, COMMITTEE MEMBER, OFFICER, OR EMPLOYEE OF THE CREDIT UNION MAY HAVE A FINANCIAL INTEREST IN ANY CONTRACT OR TRANSACTION WITH THE CREDIT UNION UNLESS THIS INTEREST IS DISCLOSED AND MADE KNOWN TO THE BOARD OF DIRECTORS. NO DIRECTOR OR COMMITTEE MEMBER OF THE CREDIT UNION WILL PARTICIPATE IN THE DELIBERATION OF ANY QUESTION AFFECTING HIS OR HER OWN PECUNIARY INTEREST. SUCH DIRECTOR OR COMMITTEE MEMBER WILL WITHDRAW FROM THE DELIBERATION AND DECISION UPON SUCH INTEREST. FORM 990, PART VI, SECTION B, LINE 15 INDUSTRY BENCHMARK STANDARDS AS PROVIDED BY THRID PARTY COMPENSATION CONSULTANTS ARE USED ANNUALLY IN DETERMINING SENIOR MANAGEMENT COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS AND OTHER INTERESTED PARTIES OF THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN: 142,331.