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Nonprofiteer
← CREDIT UNIONS IN THE STATE OF WASHINGTON

Form 990 for tax year 2022

Filed by CREDIT UNIONS IN THE STATE OF WASHINGTON.

Totals

Total revenue
$219,180,132
Total expenses
$189,685,535
Contributions and grants received
$0
Grants paid
$93,410
Program service revenue
$209,684,292
Investment income
$8,869,026
Other revenue
$626,814
Total assets, end of year
$5,594,015,267
Total liabilities, end of year
$5,104,249,815
Net assets or fund balances, end of year
$489,765,452
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: LOAN INTEREST

    total $165,798,818 · related or exempt $165,798,818

  • 2b · Program service revenue: VISA/DEBIT CARD INCOME

    total $21,798,827 · related or exempt $21,798,827

  • 2c · Program service revenue: FEES & CHARGES INCOME

    total $18,114,096 · related or exempt $17,904,212 · unrelated business $209,884

  • 2d · Program service revenue: OTHER INCOME

    total $3,972,551 · related or exempt $3,277,968 · unrelated business $694,583

  • 3 · Investment income

    total $6,605,719 · excluded $6,605,719

  • 6a · Gross rents

    real property $626,814

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $626,814

  • 6d · Net rental income or loss

    total $626,814 · unrelated business $32,651 · excluded $594,163

  • 7a · Gross sales of assets other than inventory

    securities $3,124,738 · other assets $582,713

  • 7b · Less cost or other basis and sales expenses

    securities $763,992 · other assets $680,152

  • 7c · Gain or loss

    securities $2,360,746 · other assets -$97,439

  • 7d · Net gain or loss

    total $2,263,307 · excluded $2,263,307

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $93,410

  • 5 · Compensation of officers, directors and key employees

    total $5,240,338

  • 7 · Other salaries and wages

    total $49,489,687

  • 8 · Pension plan contributions

    total $4,147,869

  • 9 · Other employee benefits

    total $4,578,941

  • 10 · Payroll taxes

    total $5,522,505

  • 11b · Fees: legal

    total $135,798

  • 11c · Fees: accounting

    total $238,556

  • 11g · Fees: other

    total $11,753,021

  • 12 · Advertising and promotion

    total $13,513,669

  • 13 · Office expenses

    total $19,626,145

  • 16 · Occupancy

    total $3,529,966

  • 17 · Travel

    total $1,353,866

  • 19 · Conferences, conventions and meetings

    total $75,875

  • 20 · Interest

    total $24,777,825

  • 22 · Depreciation, depletion and amortization

    total $13,441,110

  • 23 · Insurance

    total $482,960

  • 24a · Other expenses: UBI TAXES

    total $64,923

  • 24b · Other expenses: PROV FOR LOAN LOSS

    total $19,570,407

  • 24c · Other expenses: CREDIT/COLLECTION COSTS

    total $8,402,430

  • 24d · Other expenses: FRAUD EXPENSE

    total $1,696,372

  • 24e · All other expenses

    total $1,949,862

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $413,151,286 · end of year $436,125,604

  • 2 · Savings and temporary cash investments

    beginning of year $33,818,525 · end of year $52,488,802

  • 4 · Accounts receivable

    beginning of year $34,422,267 · end of year $27,631,296

  • 7 · Other notes and loans receivable

    beginning of year $3,748,696,601 · end of year $4,403,386,406

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,637,928 · end of year $9,260,464

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

    $180,661,521

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

    $60,707,512

  • 10c · Land, buildings and equipment, net

    beginning of year $111,284,189 · end of year $119,954,009

  • 12 · Investments: other securities

    beginning of year $479,725,213 · end of year $386,892,480

  • 13 · Investments: program-related

    beginning of year $375,010 · end of year $375,010

  • 14 · Intangible assets

    beginning of year $86,665,864 · end of year $84,146,225

  • 15 · Other assets

    beginning of year $67,638,679 · end of year $73,754,971

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,624,279 · end of year $55,986,430

  • 19 · Deferred revenue

    beginning of year $1,461,052 · end of year $1,052,602

  • 21 · Escrow or custodial account liability

    beginning of year $2,272,811 · end of year $71,039

  • 23 · Secured mortgages and notes payable

    beginning of year $75,010,000 · end of year $492,500,000

  • 25 · Other liabilities

    beginning of year $4,364,846,125 · end of year $4,554,639,744

  • 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 $490,201,295 · end of year $489,765,452

Mission and programs · 2022

Mission

MEMBERS HAVE ACCESS TO A BROAD RANGE OF FINANCIAL PRODUCTS AND SERVICES THAT ENABLE THEM TO PROSPER AT A COST JUSTIFIED BY THE RESULT.

Activities or mission (Part I)

PROVIDE FINANCIAL SERVICES TO 285,115 MEMBERS. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, PROVIDING AUTO AND OTHER SECURED/UNSECURED CONSUMER LOANS, CHECKING AND SAVINGS PROGRAMS, AND CREDIT CARD SERVICES.

  • OFFER COMPREHENSIVE RANGE AND COMPETITIVELY PRICED LOAN PRODUCTS TO MEMBERS. GESA OFFERS A WIDE RANGE OF LOAN PRODUCTS INCLUDING, BUT NOT LIMITED TO, AUTOS, RVS, MARINE EQUIPMENT, FIRST MORTGAGE, HOME EQUITY, CREDIT CARD, COMMERCIAL AND VARIOUS SECURED AND UNSECURED LOANS.

  • OFFER COMPREHENSIVE AND COMPETITIVELY YIELDING SAVINGS PRODUCTS TO MEMBERS. GESA OFFERS A WIDE VARIETY OF SAVINGS PRODUCTS TO MEMBERS, WHICH INCLUDE, BUT ARE NOT LIMITED TO BASIC SAVINGS, HOLIDAY CLUB, VACATION CLUB, COMMERCIAL SAVINGS, CERTIFICATE ACCOUNTS, IRA CERTIFICATES, IRA SAVINGS AND MONEY MARKET ACCOUNTS. GESA CONTINUES TO BE A LEADER IN OUR AREA ON SAVINGS ACCOUNT RATES.

  • OFFER LOW COST SERVICES TO MEMBERS WHICH WILL ENABLE THEM TO ACHIEVE THEIR DESIRED FINANCIAL GOALS.

As filed on the 2022 return.

Listed in Part VII

  • GREGG ANDREWS

    CHAIRMAN OF THE BOARD

    Total calculated
    $25,750
    From this org
    $25,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • GEOF GRIEBEL

    VICE CHAIRMAN OF THE BOARD

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • ANDREW AUSTIN

    SECRETARY

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • BILL BONAUDI

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • BEN BASSON

    DIRECTOR

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • MANUEL CHAVALLO

    DIRECTOR

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • LINDA COWAN

    DIRECTOR

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • ROBERT FOLLETT

    DIRECTOR

    Total calculated
    $22,500
    From this org
    $22,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • WILLIAM MELBERG

    DIRECTOR

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • RICH RUTKOWSKI

    DIRECTOR

    Total calculated
    $18,750
    From this org
    $18,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • BRETT SPOONER

    DIRECTOR

    Total calculated
    $21,663
    From this org
    $21,663
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • PETER SMITH

    DIRECTOR

    Total calculated
    $19,587
    From this org
    $19,587
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • MARTIN VALADEZ TORRES

    DIRECTOR

    Total calculated
    $22,500
    From this org
    $22,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • DON C MILLER

    PRESIDENT/CEO

    Total calculated
    $2,506,196
    From this org
    $1,777,884
    From related orgs
    $0
    Other
    $728,312
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $810,634
    Bonus
    $178,365
    Other
    $788,885
    Deferred
    $703,112
    Nontaxable benefits
    $25,200
    Filer's total
    $2,506,196

  • APRONIANO LABONITE

    EVP TEAM ENGAGEMENT (THRU 06/22)

    Total calculated
    $722,664
    From this org
    $704,857
    From related orgs
    $0
    Other
    $17,807
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $129,119
    Bonus
    $40,284
    Other
    $535,454
    Deferred
    $3,396
    Nontaxable benefits
    $14,411
    Filer's total
    $722,664

  • RICHARD WADDLE

    EVP ACCOUNTING & FINANCE

    Total calculated
    $483,020
    From this org
    $430,236
    From related orgs
    $0
    Other
    $52,784
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $368,378
    Bonus
    $51,122
    Other
    $10,736
    Deferred
    $21,532
    Nontaxable benefits
    $31,252
    Filer's total
    $483,020

  • CHERYL BROWN

    EVP OF MEMBER SUPPORT & SERVICE

    Total calculated
    $385,465
    From this org
    $320,564
    From related orgs
    $0
    Other
    $64,901
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $279,654
    Bonus
    $28,455
    Other
    $12,455
    Deferred
    $43,476
    Nontaxable benefits
    $21,425
    Filer's total
    $385,465

  • KEVEN GRAY

    EVP OF MEMBER FULFILLMENT

    Total calculated
    $393,816
    From this org
    $319,807
    From related orgs
    $0
    Other
    $74,009
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $280,577
    Bonus
    $26,658
    Other
    $12,572
    Deferred
    $47,092
    Nontaxable benefits
    $26,917
    Filer's total
    $393,816

  • CHERYL ADAMSON

    EVP OF LEGAL & ADMINISTRATION

    Total calculated
    $302,955
    From this org
    $249,962
    From related orgs
    $0
    Other
    $52,993
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $221,654
    Bonus
    $16,025
    Other
    $12,283
    Deferred
    $43,100
    Nontaxable benefits
    $9,893
    Filer's total
    $302,955

  • ANDREW CHUNG

    VP OF IT

    Total calculated
    $488,769
    From this org
    $441,797
    From related orgs
    $0
    Other
    $46,972
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $215,623
    Bonus
    $24,386
    Other
    $201,788
    Deferred
    $20,238
    Nontaxable benefits
    $26,734
    Filer's total
    $488,769

  • HUEY WANG

    VP OF CORE OPERATIONS

    Total calculated
    $448,552
    From this org
    $416,099
    From related orgs
    $0
    Other
    $32,453
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $191,456
    Bonus
    $23,281
    Other
    $201,362
    Deferred
    $12,331
    Nontaxable benefits
    $20,122
    Filer's total
    $448,552

  • ADRIAN SMASNE

    VP HOME LOANS

    Total calculated
    $403,908
    From this org
    $371,108
    From related orgs
    $0
    Other
    $32,800
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $194,860
    Bonus
    $164,785
    Other
    $11,463
    Deferred
    $10,660
    Nontaxable benefits
    $22,140
    Filer's total
    $403,908

  • GREGORY PARTCH

    COMMERCIAL LOAN OFFICER

    Total calculated
    $371,419
    From this org
    $349,074
    From related orgs
    $0
    Other
    $22,345
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,178
    Bonus
    $191,370
    Other
    $526
    Deferred
    $10,978
    Nontaxable benefits
    $11,367
    Filer's total
    $371,419

  • RICHARD FISHER

    COMMERCIAL LOAN OFFICER

    Total calculated
    $375,997
    From this org
    $328,545
    From related orgs
    $0
    Other
    $47,452
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $191,803
    Bonus
    $135,770
    Other
    $972
    Deferred
    $18,051
    Nontaxable benefits
    $29,401
    Filer's total
    $375,997

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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
DON MILLER, PRESIDENT/CEO, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT ACCRUED IN 2022 WAS $724,334. THE AMOUNT DISTRIBUTED WAS $750,000. RICHARD WADDLE, EVP OF ACCOUNTING & FINANCE, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT CONTRIBUTED IN 2022 WAS $15,493. APRONIANO LABONITE, EVP OF TEAM ENGAGEMENT, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT ACCRUED IN 2022 WAS $4,246. CHERYL BROWN, EVP OF MEMBER SUPPORT & SERVICE, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT ACCRUED IN 2022 WAS $25,164. KEVEN GRAY, EVP OF MEMBER FULFILLMENT, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT ACCRUED IN 2022 WAS $28,485. CHERYL ADAMSON, EVP OF LEGAL & ADMINISTRATION, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT ACCRUED IN 2022 WAS $22,593. ANDREW CHUNG, VP OF IT, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT ACCRUED IN 2022 WAS $12,514. THE AMOUNT DISTRIBUTED WAS $198,157. HUEY WANG, VP OF IT CORE OPERATIONS, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT ACCRUED IN 2022 WAS $6,697. THE AMOUNT DISTRIBUTED WAS $196,908.

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
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323189349309797

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