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Nonprofiteer
← OUCU FINANCIAL CREDIT UNION INC

Form 990 for tax year 2024

Filed by OUCU FINANCIAL CREDIT UNION INC.

Totals

Total revenue
$31,880,517
Total expenses
$29,483,775
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$29,891,276
Investment income
$1,989,241
Other revenue
$0
Total assets, end of year
$502,923,943
Total liabilities, end of year
$451,840,874
Net assets or fund balances, end of year
$51,083,069
Program services expenses (Part IX)
$29,483,775
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$29,483,775

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST ON LOANS

    total $22,058,076 · related or exempt $22,058,076

  • 2b · Program service revenue: FEES & COMMISSIONS

    total $5,103,443 · related or exempt $5,056,172 · unrelated business $47,271

  • 2c · Program service revenue: OTHER INCOME

    total $2,729,757 · related or exempt $1,143,112 · unrelated business $1,586,645

  • 3 · Investment income

    total $1,989,241 · excluded $1,989,241

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,209,984 · program services $2,209,984

  • 7 · Other salaries and wages

    total $7,461,023 · program services $7,461,023

  • 8 · Pension plan contributions

    total $664,296 · program services $664,296

  • 9 · Other employee benefits

    total $1,365,984 · program services $1,365,984

  • 10 · Payroll taxes

    total $663,514 · program services $663,514

  • 11b · Fees: legal

    total $71,166 · program services $71,166

  • 11c · Fees: accounting

    total $208,903 · program services $208,903

  • 11g · Fees: other

    total $611,114 · program services $611,114

  • 12 · Advertising and promotion

    total $743,234 · program services $743,234

  • 13 · Office expenses

    total $2,885,065 · program services $2,885,065

  • 16 · Occupancy

    total $723,827 · program services $723,827

  • 17 · Travel

    total $297,757 · program services $297,757

  • 20 · Interest

    total $5,952,390 · program services $5,952,390

  • 22 · Depreciation, depletion and amortization

    total $243,061 · program services $243,061

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $2,279,705 · program services $2,279,705

  • 24b · Other expenses: ATM/DEBIT CARD EXPENSE

    total $1,276,856 · program services $1,276,856

  • 24c · Other expenses: MISCELLANEOUS

    total $1,048,021 · program services $1,048,021

  • 24d · Other expenses: LOAN SERVICING

    total $777,875 · program services $777,875

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,774,010 · end of year $5,558,334

  • 2 · Savings and temporary cash investments

    beginning of year $44,012,135 · end of year $20,829,885

  • 4 · Accounts receivable

    beginning of year $375,047,901 · end of year $393,422,886

  • 10a · Land, buildings and equipment: cost or other basis

    $20,655,412

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,349,737

  • 10c · Land, buildings and equipment, net

    beginning of year $8,880,025 · end of year $13,305,675

  • 12 · Investments: other securities

    beginning of year $64,892,304 · end of year $56,294,901

  • 15 · Other assets

    beginning of year $13,637,651 · end of year $13,512,262

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,718,682 · end of year $3,569,236

  • 19 · Deferred revenue

    beginning of year $2,243,630 · end of year $1,988,432

  • 23 · Secured mortgages and notes payable

    beginning of year $60,000,000 · end of year $25,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $2,378,000 · end of year $1,331,680

  • 25 · Other liabilities

    beginning of year $392,009,771 · end of year $419,951,526

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $47,893,943 · end of year $51,083,069

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.

  • THE OUCU FINANCIAL CREDIT UNION HAS PROVIDED OVER 25,000+ MEMBERS WITH SAFETY AND SOUNDESS OF THEIR DEPOSITS MADE TO US, AS SHOWN BY GROWTH IN DEPOSIT BALANCES FROM THE PREVIOUS YEAR. IN ADDITION TO HAVING OFFERED OUR MEMBERS THE SAFETY OF THEIR SAVINGS, WE ALSO HAVE CONTINUED TO OFFER A VAST ARRAY OF ADDITIONAL PRODUCTS AND SERVICES TO HELP PROMOTE THEIR FINANCIAL WELL-BEING INCLUDING FIRST AND SECOND MORTGAGES, AUTO LOANS, SECURED AND UNSECURED LOANS, CREDIT CARDS, AND MEMBER BUSINESS LOANS. FREE SEMINARS TO EDUCATE OUR MEMBERS ON SUCH TOPICS AS HOMEBUYING, IRA'S, WILLS & TRUSTS, LONG-TERM CARE INSURANCE, AND OTHER FINANCIAL RELATED TOPICS ARE ANOTHER BENEFIT WE PROVIDE TO HELP ENSURE MEMBERS REACH THEIR FINANCIAL GOALS. WE ARE DEDICATED TO CONTINUE OFFERING OUR MEMBERS THESE PRODUCTS AND SERVICES IN THE FUTURE AND UPGRADE OUR PRODUCTS AND SERVICES TO BEST SERVE THEM AS NEEDED.

    Expenses $29,483,775

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BUTCH HILL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BOB COURTNEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TRAVIS DAVIDSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAREN DEARDORFF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WARREN JEFFERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOM LUCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM PERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CLIF MASON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER L'HEUREUX

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TRACY KELLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WES HARKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CORY CORRIGAN

    CEO

    Total calculated
    $530,834
    From this org
    $489,434
    From related orgs
    $0
    Other
    $41,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $428,329
    Bonus
    $61,105
    Other
    $0
    Deferred
    $41,400
    Nontaxable benefits
    $0
    Filer's total
    $530,834

  • JEAN BLAIR

    CTO

    Total calculated
    $316,300
    From this org
    $274,902
    From related orgs
    $0
    Other
    $41,398
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,893
    Bonus
    $32,009
    Other
    $0
    Deferred
    $41,398
    Nontaxable benefits
    $0
    Filer's total
    $316,300

  • DANITA SHARP

    COO

    Total calculated
    $305,058
    From this org
    $272,373
    From related orgs
    $0
    Other
    $32,685
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $241,515
    Bonus
    $30,858
    Other
    $0
    Deferred
    $32,685
    Nontaxable benefits
    $0
    Filer's total
    $305,058

  • BRIAN SMITH-VANDERGRIFF

    CHIEF FINANCIAL & STRATEGY OFFICER

    Total calculated
    $218,900
    From this org
    $205,543
    From related orgs
    $0
    Other
    $13,357
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $29,240
    Bonus
    $42,303
    Other
    $134,000
    Deferred
    $13,107
    Nontaxable benefits
    $250
    Filer's total
    $218,900

  • AUDREY LANNING

    VP OF MARKETING

    Total calculated
    $253,055
    From this org
    $227,326
    From related orgs
    $0
    Other
    $25,729
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,741
    Bonus
    $26,585
    Other
    $0
    Deferred
    $25,729
    Nontaxable benefits
    $0
    Filer's total
    $253,055

  • DEBRA WAYLAND

    CAO

    Total calculated
    $251,717
    From this org
    $226,046
    From related orgs
    $0
    Other
    $25,671
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,060
    Bonus
    $24,986
    Other
    $0
    Deferred
    $25,671
    Nontaxable benefits
    $0
    Filer's total
    $251,717

  • NICHOLAS JENSEN

    CFO

    Total calculated
    $187,673
    From this org
    $187,673
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,923
    Bonus
    $10,750
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $187,673

  • SAMANTHA HIBBARD

    VP OF RETAIL SALES AND SERVICE

    Total calculated
    $146,447
    From this org
    $130,756
    From related orgs
    $0
    Other
    $15,691
    Hours/week
    40

  • ROMNEY COX

    SR FINANCIAL ADVISOR

    Total calculated
    $792,610
    From this org
    $750,710
    From related orgs
    $0
    Other
    $41,900
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $89,722
    Bonus
    $660,988
    Other
    $0
    Deferred
    $41,400
    Nontaxable benefits
    $500
    Filer's total
    $792,610

  • TRACEY JAMES

    VP OF RISK

    Total calculated
    $231,574
    From this org
    $206,763
    From related orgs
    $0
    Other
    $24,811
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,953
    Bonus
    $23,810
    Other
    $0
    Deferred
    $24,811
    Nontaxable benefits
    $0
    Filer's total
    $231,574

  • MARK SNIDER

    SR FINANCIAL ADVISOR

    Total calculated
    $186,039
    From this org
    $186,039
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,000
    Bonus
    $66,039
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $186,039

  • LAURA PRATT

    MARKETING MANAGER

    Total calculated
    $167,856
    From this org
    $149,871
    From related orgs
    $0
    Other
    $17,985
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,429
    Bonus
    $18,442
    Other
    $0
    Deferred
    $17,985
    Nontaxable benefits
    $0
    Filer's total
    $167,856

  • DONNA RUSSELL

    SR COMMERCIAL LENDER

    Total calculated
    $164,260
    From this org
    $146,661
    From related orgs
    $0
    Other
    $17,599
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,245
    Bonus
    $31,416
    Other
    $0
    Deferred
    $17,599
    Nontaxable benefits
    $0
    Filer's total
    $164,260

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
BRIAN SMITH-VANDERGRIFF RECEIVED A PAYOUT OF $134,000 FROM THE 457F PLAN. THIS PAYOUT IS INCLUDED IN TOTAL COMPENSATION AND IS REPORTED AS OTHER REPORTABLE COMPENSATION ON SCHEDULE J, PART II.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202513189349308546

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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