2011-11-10T16:36:49-06:00 2010-12-31 MOSS ADAMS LLP 805 SW BROADWAY 1200 PORTLAND OR 97205 990 2010-01-01 930496543 CENTRAL WILLAMETTE COMMUNITY CREDIT UNION CENT 5419176801 PO BOX 1899 ALBANY OR 97321 ELAINE EASTMAN 5419176801 2011-11-01 1 5032421447 2010 2016-02-24 21:20:13Z ELAINE EASTMAN PO BOX 1899 ALBANY OR 97321 13118038 0 X WWW.CENTRALWCU.ORG X 1955 OR TO PROVIDE FINANCIAL PRODUCTS AND SERVICES TO OUR MEMBERSHIP. 9 9 108 13 198663 -296058 0 0 11693115 11310888 950611 514612 923667 -212857 13567393 11612643 7475 10137 0 0 5106053 4292865 0 0 0 10562393 7964416 15675921 12267418 -2108528 -654775 202678841 202177485 187494842 187650529 15183999 14526956 X THE PURPOSE OF THE CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS BY AFFORDING THEM THE OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS, TO CREATE FOR THEM A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, AND TO PROVIDE THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. 0 0 CENTRAL WILLAMETTE COMMUNITY CREDIT UNION SERVICES 24,337 MEMBERS OF OUR COMMUNITY WITH DIVERSE FINANCIAL PRODUCTS AND SERVICES. DURING THE YEAR WE GRANTED A TOTAL OF 2,776 LOANS WORTH $37,172,113 TO OUR MEMBERS. WE HAVE A TOTAL LOAN PORTFOLIO OF 9,776 LOANS WORTH $136,765,918. THE CREDIT UNION ALSO MAINTAINS 44,420 ACCOUNTS FOR OUR MEMBERS WORTH $185,755,973. THE CREDIT UNION EMPLOYS 83 INDIVIDUALS FROM OUR COMMUNITY. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 6520 0 1 108 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X HOLLY HOOD 5419176839 7101 SUPRA DR SW ALBANY OR 97322 JIM HEALY 2.30 X X 0 0 0 KATHLEEN KELLY 1.30 X X 0 0 0 JENNIFER MOORE 1.30 X X 0 0 0 FORREST BARNES 1.30 X 0 0 0 DAN BEDORE 1.30 X 0 0 0 JIM DENHAM 1.30 X 0 0 0 MIKE HOLLAND 1.30 X 0 0 0 JEAN STRAIGHT 1.30 X 0 0 0 MARTHA LYON 1.30 X 0 0 0 ELAINE EASTMAN 50.00 X 164767 0 12768 JEFF CHRISTMAN 50.00 X 89528 0 9454 254295 0 22222 1 0 1 0 CAPPELLI MILES (SPRING) 2260 OAKMONT WAY 7 EUGENE OR 97401 MARKETING SERVICES 350722 VANTIV HOLDINGS 38 FOUNTAIN SQUARE PLAZA CINCINNATI OH 45202 DEBIT/ATM CARD SERVICES 271370 DIGITAL INSIGHT CORP 24403 WELCHES RD 105C WELCHES OR 97067 ELECTRONIC SERVICES 264970 BIT LLC 9975 SW HAWTHORNE LN PORTLAND OR 97225 STATEMENT PROCESSING 146060 4 INTEREST INCOME - LOAN 522100 8442806 8442806 SERVICE FEE INCOME 522100 1709085 1527068 182017 OTHER OPERATING INCOME 522100 1158997 1158997 11310888 509333 509333 92385 11722 80663 80663 16646 64017 1496421 2531 1491206 2467 5215 64 5279 5279 OTHER NONOPERATING INC 522100 593073 593073 LOSS ON OREO PROPERTIE 522100 -279933 -279933 LOSS ON CAPITAL INVEST 522100 -606660 -606660 -293520 11612643 11442011 198663 -28031 10137 276517 3219470 77443 426724 292711 13063 18364 724929 434320 1080576 419802 7115 2493759 415247 72128 PROVISION FOR LOAN LOSS 1521000 CORPORATE STABILIZATION 246850 LOAN SERVICING 246765 NCUSIF PREMIUM 226662 ASSOCIATION DUES 43836 12267418 2894259 2572975 45509119 52221167 142148141 134673503 957754 1020452 13967418 6364667 7539950 7602751 3629618 4086637 202678841 202177485 2389569 2041466 63026 64565 185042247 185544498 187494842 187650529 X 0 0 0 0 15183999 14526956 15183999 14526956 202678841 202177485 X -654775 -2268 X X 0 0 0 0 1 1856783 1856783 7216091 2008514 5207577 754619 717785 36834 4139925 3638368 501557 7602751 MEMBER SHARE ACCOUNTS 84923864 CHECKING ACCOUNTS 42190541 IRA 3788103 CERTIFICATES OF DEPOSIT 54641990 185544498 PART IV, LINE 2B: ESCROW ACCOUNTS FOR MEMBER MORTGAGE LOANS. 0 X X X X X 0 0 0 ELAINE EASTMAN 164767 0 0 0 0 0 6591 0 6177 0 177535 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH CREDIT UNION MEMBER HAS ONE VOTE TOWARDS THE ELECTION OF THE CREDIT UNION'S GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE CREDIT UNION'S BOARD OF DIRECTORS MEETS MONTHLY. FORM 990 WILL BE REVIEWED BY THE BOARD AT THE NEXT REGULARLY SCHEDULED MEETING AFTER THE FORM IS FILED. THE CREDIT UNION'S CEO WILL REVIEW THE FORM BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY EMPLOYEES MUST REVIEW THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND SIGN A STATEMENT THAT THEY HAVE READ THE POLICY. THE COMPLIANCE OFFICER OF THE CREDIT UNION CONDUCTS STAFF MEETINGS TO REVIEW THE POLICY AND ANSWER ANY QUESTIONS. THE COMPLIANCE OFFICER ALSO REVIEWS THE POLICY WITH THE BOARD OF DIRECTORS. EMPLOYEE AND DIRECTOR TRANSACTIONS ARE MONITORED FOR ANY POSSIBLE CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS REVIEWED BY THE CREDIT UNION'S CEO REVIEW COMMITTEE. THE COMMITTEE MAKES RECOMMENDATIONS TO THE ENTIRE BOARD OF DIRECTORS. THE BOARD MAKES THE FINAL DETERMINATION. KEY EMPLOYEES HAVE THEIR COMPENSATION REVIEWED BY THE CEO. IN ALL CASES INDUSTRY COMPENSATION SURVEYS AND LOCAL DATA ARE USED TO DETERMINE INDIVIDUAL AMOUNTS. THE CREDIT UNION ALSO HAS POLICIES IN THE EMPLOYEE MANUAL WHICH COVER COMPENSATION, PERFORMANCE REVIEWS AND INCENTIVES. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIALS ARE POSTED IN THE LOBBY OF EACH BRANCH OFFICE. OTHER GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -3,702. OTHER ADJUSTMENTS TO COMPREHENSIVE INCOME 1,434. TOTAL TO FORM 990, PART XI, LINE 5: -2,268. FORM 990, PART IV, LINE 12A & PART XI, LINE 2B: THE CREDIT UNION DOES RECIEVE CONSOLIDATED FINANCIAL STATEMENTS IN ACCORDANCE WITH GAAP, BUT IN COMPLIANCE WITH IRS INSTRUCTIONS, SINCE FORM 990 IS PREPARED ON A CALENDAR YEAR AND THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR, THESE QUESTIONS MUST BE ANSWERED NO. CENTRAL WILLAMETTE SERVICE CORPORATION PO BOX 1899 ALBANY OR 97321 930996768 INSURANCE OR N/A C 7481 175019 1.00000 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 CENTRAL WILLAMETTE SERVICE CORPORATION A 16646 CASH TRANSFERRED CENTRAL WILLAMETTE SERVICE CORPORATION P 258400 CASH TRANSFERRED