Totals
- Total revenue
- $14,170,044
- Total expenses
- $12,666,306
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $14,170,044
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $246,018,216
- Total liabilities, end of year
- $227,434,332
- Net assets or fund balances, end of year
- $18,583,884
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $11,088,717
Program services were 0.0% 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: Loan Income
total $11,226,089 · related or exempt $11,226,089 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Investment Income
total $417,305 · related or exempt $417,305 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Fee Income
total $1,739,048 · related or exempt $1,739,048 · unrelated business $0 · excluded $0
-
2d · Program service revenue: Misc. Income
total $768,335 · related or exempt $768,335 · unrelated business $0 · excluded $0
-
2e · Program service revenue: Unrelated Business Income
total $19,267 · related or exempt $0 · unrelated business $19,267 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $790,018
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $3,823,706
-
8 · Pension plan contributions
total $142,227
-
9 · Other employee benefits
total $812,232
-
10 · Payroll taxes
total $336,934
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $41,374
-
11c · Fees: accounting
total $25,000
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $49,080
-
12 · Advertising and promotion
total $394,847
-
13 · Office expenses
total $671,936
-
14 · Information technology
total $616,702
-
15 · Royalties
total $0
-
16 · Occupancy
total $403,985
-
17 · Travel
total $111,748
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $45,094
-
20 · Interest
total $2,438,405
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $497,061
-
23 · Insurance
total $110,299
-
24a · Other expenses: Provision for Loan Losses
total $878,331
-
24b · Other expenses: Member Rewards
total $178,882
-
24c · Other expenses: Loan Service Expenses
total $153,484
-
24d · Other expenses: Provision for Fraud Losses
total $144,961
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,349,937 · end of year $1,736,759
-
2 · Savings and temporary cash investments
beginning of year $430,506 · end of year $9,368,284
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $204,464,116 · end of year $199,642,461
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,557,363 · end of year $1,564,879
-
10a · Land, buildings and equipment: cost or other basis
$18,957,699
-
10b · Land, buildings and equipment: accumulated depreciation
$3,038,130
-
10c · Land, buildings and equipment, net
beginning of year $16,758,671 · end of year $15,919,569
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $20,926,603 · end of year $12,275,579
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $2,983,783 · end of year $5,510,685
-
17 · Accounts payable and accrued expenses
beginning of year $1,473,312 · end of year $2,098,497
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $9,684,490 · end of year $6,800,000
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $220,838,519 · end of year $218,535,835
-
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 $17,474,658 · end of year $18,583,884
Mission and programs · 2023
Mission
promoting the financial well being of our members by providing loans and savings services.
Activities or mission (Part I)
promoting the well being of over 20000 members by providing loans and deposits
-
dividends on member deposits
Expenses $1,983,814
-
salaries and benefits
Expenses $5,921,825
-
office expenses
Expenses $1,316,836
-
other expenses
Expenses $1,866,242
As filed on the 2023 return.
Listed in Part VII
-
Brian Osberg
President/CEO
- Total calculated
- $219,635
- From this org
- $219,635
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $183,981
- Bonus
- $10,000
- Other
- $3,384
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $197,365
-
Jamie Simmons
EVP
- Total calculated
- $139,674
- From this org
- $139,674
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Shannon Lord
COO
- Total calculated
- $136,759
- From this org
- $136,759
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Brian Singleton
Investment Advisor
- Total calculated
- $134,646
- From this org
- $134,646
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Stephanie Tocher
VP Lending
- Total calculated
- $128,633
- From this org
- $128,633
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Justin Dance
CFO
- Total calculated
- $30,671
- From this org
- $30,671
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Sheila Ericksen
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Roger Murphy
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Ron Lloyd
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Brad Nelson
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Quentin Howard
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Amber Christensen
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Steve Young
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Rodd Eggleston
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Charlotte Blair
Board Member
- Total calculated
- $0
- Hours/week
- 1
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
- 1a · Travel for companions
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- Schedule J, Part I, Line 1a - Credit union will cover costs of a companion for conference or education travel Credit pays monthly dues for CEO and EVP country club membership
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
- 2023
- Filed
- 13 March 2024
- IRS schema version
- 2023v5.0
- Source object
- 202400789349300340
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