2011-07-19T13:55:00-05:00 2010-12-31 990 2010-01-01 910333066 KITSAP CREDIT UNION KITS 3606622000 PO BOX 990 BREMERTON WA 98337 SCOTT HENDERSON 3606622000 2011-07-19 2010 2016-02-24 21:20:13Z KITSAP CREDIT UNION SCOTT HENDERSON PO BOX 990 BREMERTON WA 98337 70269956 false true X WWW.KITSAPCU.ORG X 1934 WA A NOT-FOR PROFIT FINANCIAL COOPERATIVE OFFERING CHECKING AND SAVINGS PROGRAMS LENDING AND RELATED SERVICES TO MEMBERS WHO LIVE WORK OR WORSHIP IN THE STATE OF WASHINGTON. KCU ALSO PROVIDES FINANCIAL LITERACY PROGRAMS AND IS ACTIVELY INVOLVED IN COMMUNITY OUTREACH PROGRAMS. 9 9 394 12 706644 0 54763653 52545290 2539148 2393434 4098288 0 61401089 54938724 0 0 16270351 16416233 0 0 48989425 45855267 65259776 62271500 -3858687 -7332776 872283803 832358741 795486112 762726245 76797691 69632496 TO OFFER CHECKING SAVINGS AND LENDING PROGRAMS TO MEMBERS WHO LIVE WORK AND WORSHIP IN THE STATE OF WASHINGTON. KCU ALSO PROVIDES FINANCIAL LITERACY PROGRAMS AND IS ACTIVELY INVOLVED IN COMMUNITY OUTREACH PROGRAMS. false false SECURED AND UNSECURED LOANS ISSUED TO CREDIT UNION MEMBERS AS RELATED TO THE EXEMPT PURPOSE OF KCU. THE TYPES OF LOANS ISSUED INCLUDE DIRECT AND INDIRECT VEHICLE LOANS VISA'S HOME EQUITY LOANS AND MORTGAGE LOANS. 522130 SAVINGS PROGRAMS THAT ARE PROVIDED TO CREDIT UNION MEMBERS AS RELATED TO THE EXEMPT PURPOSES OF KCU. THE TYPES OF ACCOUNTS OFFERED ARE CHECKING MONEY MARKET ACCOUNTS IRA ACCOUNTS REGULAR SAVINGS AND CERTIFICATES. 522130 COMMUNITY OUTREACH BRANCHES OFFERED IN HIGH SCHOOLS. COMMUNITY INVOLVEMENT INCLUDING DONATIONS OF STAFF TIME IN THE COMMUNITY. KCU ALSO OFFERS MANY FINANCIAL LITERACY CLASSES FOR CHILDREN AND ADULTS. false false false false false false false false true true false false true false false false false false false false false false false false false false false true false false false true false false false false false false false false false false false false false false true 2 0 true 394 true true true false false false false false false false false false false false X 9 9 false false false false true true false true true false false false true true true false true true true false WA X AUDRA TRAINER 3606622156 P O BOX 990 BREMERTON WA 98337 GREGG ELLIOT 40 X 620703 0 22725 HENDERSON SCOTT 40 X 168582 0 19516 LETEXIER KELLIE 40 X 130466 0 21469 ROGERSON RON 40 X 126915 0 16501 HALL GEORGE 40 X 148147 0 18815 MORRISON COLIN 40 X 138655 0 11940 PAULINO CARL 40 X 189879 0 11746 YOUNG CAROLYN 40 X 113749 0 10997 HOUSTON CARMELLA 40 X 113464 0 10926 SPENCER SHAWNEE 40 X 146930 0 12208 CRUZ MESSIAL 40 X 192547 0 10710 JOHNSON WENDIE 8 X 0 0 0 RUMBOLD WILLIAM 8 X 0 0 0 THOMAS TERRENCE 5 X 0 0 0 ROWSON JAMES 5 X 0 0 0 ADDY MARY LOU 5 X 0 0 0 ALLBEE DEBRA 5 X 0 0 0 ANDERSON DAVE 5 X 0 0 0 MAXON CAROLYN 5 X 0 0 0 SLACH HAROLD 5 X 0 0 0 STRICKLAND RALPH 1 X 0 0 0 MAIERS WILLIAM 1 X 0 0 0 BAILEY WILLIAM 5 X 0 0 0 DIBERT PATRICIA 5 X 0 0 0 ROSS LANNY 5 X 0 0 0 2090037 167553 11 false true false ALLCARE JANITORIAL PO BOX 785 BELFAIR WA 98528 JANITORIAL 459342 FISERV SOLUTIONS 75 REMITTANCE DRIVE SUITE 6495 CHICAGO IL 60675 SOFTWARE MAINTENANCE 307087 LOOMIS FARGO PO BOX 94600 SEATTLE WA 98124 CASH DELIVERY 306006 KITSAP SUN P O BOX 34688 SEATLLE WA 98124 ADVERTISING 162439 SOUND PUBLISHING 19351 8TH AVE NE SUITE 106 POULSBO WA 98370 ADVERTISING 108301 7 INTEREST ON LOANS 522130 39381004 39381004 FEE INCOME 522130 6970689 6970689 OTHER INCOME 522130 2509327 1802683 706644 DEBIT CARD INTERCHANGE 522130 3684270 3684270 52545290 2185947 2185947 15538719 15331232 207487 207487 207487 54938724 51838646 706644 2393434 2257590 10550846 423285 2033328 1151184 76120 69886 52840 2164108 900909 2437719 2746611 2703818 114666 10985882 1103740 297853 TOTAL PROVISION 17721273 LOAN EXPENSES 1033018 MISCELLANEOUS 3327063 IMPAIRED INVESTMENT LOSSES 119761 62271500 0 0 0 13017598 12689937 15985149 19687318 689952530 646366196 1959783 1502364 49483085 14469209 36345288 35013876 110538798 111729192 4484657 5369858 872283803 832358741 39482155 28606999 57032 60242 755946925 734059004 795486112 762726245 76797691 69632496 76797691 69632496 872283803 832358741 X -7332776 167581 X false true true X false false 5969083 5969083 29491501 3264543 26226958 4844075 4388048 456027 8716276 6416872 2299404 462150 399746 62404 35013876 NCUA SHARE INSURANCE DEPOSIT 7740600 F FEDERAL AGENCY SECURITIES 86075541 F FHLB STOCK 2605400 F OVERNIGHT INVESTMENTS 13997722 F OTHER INVESTMENTS 1309929 F 111729192 SHARES 224347067 CHECKING 128464928 MONEY MARKET 135221895 ESCROW SHARES 267072 IRA SHARES 14577248 SHARE CERTIFICATES 203844331 IRA SHARE CERTIFICATES 27336464 734059005 FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT CPA FIRM FOR THE PERIOD OF OCTOBER 2009 THROUGH SEPTEMBER 2010. X X X true true X X X X false true false GREGG ELLIOT 327937 67768 224998 9550 13175 643427 587951 HENDERSON SCOTT 166710 1872 6668 12848 188098 197719 LETEXIER KELLIE 130246 220 5210 16260 151936 158441 ROGERSON RONALD 125186 1730 3756 12745 143416 150028 HALL GEORGE 147074 1073 5883 12933 166962 160196 MORRISON COLIN 138120 535 5525 6415 150595 155184 PAULINO CARL 189857 22 6737 5008 201624 266836 YOUNG CAROLYN 113010 739 4520 6477 124746 HOUSTON CARMELLA 113233 231 4471 6455 124390 SPENCER SHAWNEE 146908 22 5795 6413 159138 169847 CRUZ MESSIAL 192525 22 5776 4934 203256 243847 SEE SCHEDULE O X false true true FORM 990 PART IV SECTION A LINE 6 KITSAP CREDIT UNION HAD 81728 AS OF DECEMBER 31 2010. FORM 990 PART VI SECTION A LINE 7A MEMBERS ELECT ALL DIRECTORS FOR A 3-YEAR TERM. THEY CAN RUN FOR RE-ELECTION. BALLOTS ARE MAILED TO ALL MEMBERS DURING THE 1ST QUARTER OF EACH YEAR. FORM 990 PART VI SECTION A LINE 8A KCU CONDUCTS AN ANNUAL MEETING IN MARCH AND MEETING MINUTES ARE RECORDED. FORM 990 PART VI SECTION B LINE 11B THE ACCOUNTING MANAGER ACCOUNTING SUPERVISOR AND SVPCFO REVIEW THE RETURN FOR ACCURACY. FORM 990 PART VI SECTION B LINE 12C THE CODE OF CONDUCTCONFLICT OF INTEREST POLICY IS REQUIRED TO BE REVIEWED AND SIGNED (WITH OR WITHOUT DISCLOSURES) OR ACKNOWLEDGED (BY ELECTRONIC SIGNATURE) UPON HIRE FOR NEW EMPLOYEES AND ANNUALLY THEREAFTER FOR ALL STAFF OFFICIALS AND DIRECTORS. ACKNOWLEDGEMENTS RECEIVED FROM INDIVIDUALS WHO DISCLOSE A POTENTIAL CONFLICT ARE FORWARDED TO THE CEO OR CFO FOR REVIEW AND APPROVAL. FORM 990 PART VI SECTION B LINE 15ALINE 15B KITSAP CREDIT UNION USES AN OUTSIDE COMPENSATION CONSULTANT (ONE FOR STAFF AND ANOTHER FOR EXECUTIVE COMPENSATION) TO DETERMINE MARKET RANGES FOR PAY FOR ALL POSITIONS. THE HUMAN RESOURCE DEPT. WORKS WITH THE CONSULTANTS TO ENSURE PAY RANGES ARE COMPETITIVE AND WITHIN THE MARKET. ACTUAL INDIVIDUAL PAY FOR THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS. PAY FOR OFFICERS IS DETERMINED BY THE CEO. FORM 990 PART VI SECTION C LINE 19 KITSAP CREDIT UNION MAKES THE MONTHLY FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THEM IN EACH BRANCH. GOVERNING DOCUMENTS SUCH AS ARTICLES OF INCORPORATION ARE AVAILABLE UPON REQUEST. CONFLICT OF INTEREST POLICIES ARE NOT MADE PUBLIC. FORM 990 SCHEDULE L PART II LOANS TO INTERESTED PERSONS ARE NOT LISTED. PER INSTRUCTIONS THESE LOANS ARE NOT LISTED BECAUSE THE LOANS ARE ON THE SAME TERMS AS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION. FORM 990 PART XI LINE 5 CHANGES IN NET ASSETS OF 167581 IS THE DIFFERENCE IN THE FASB 115 INVESTMENT VALUATION FOR DECEMBER 2009 (331978) AND 2010 (164397).