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Nonprofiteer
← OREGONIANS CREDIT UNION

Form 990 for tax year 2024

Filed by OREGONIANS CREDIT UNION.

Totals

Total revenue
$17,819,181
Total expenses
$15,285,173
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,066,809
Investment income
$4,737,618
Other revenue
$14,754
Total assets, end of year
$341,246,165
Total liabilities, end of year
$290,535,925
Net assets or fund balances, end of year
$50,710,240
Program services expenses (Part IX)
$15,285,173
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$15,285,173

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: LOAN INTEREST REVENUE

    total $10,977,876 · related or exempt $10,977,876

  • 2b · Program service revenue: LOAN & SERVICE FEE REVENUE

    total $2,088,933 · related or exempt $2,088,933

  • 3 · Investment income

    total $4,737,618 · related or exempt $4,737,618

  • 11a · Other revenue: ATM SURCHARGE REVENUE

    total $14,754 · unrelated business $14,754

  • 11e · Other revenue, total

    $14,754

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $553,355 · program services $553,355

  • 7 · Other salaries and wages

    total $4,235,656 · program services $4,235,656

  • 8 · Pension plan contributions

    total $180,131 · program services $180,131

  • 9 · Other employee benefits

    total $633,731 · program services $633,731

  • 10 · Payroll taxes

    total $421,225 · program services $421,225

  • 13 · Office expenses

    total $1,259,666 · program services $1,259,666

  • 16 · Occupancy

    total $998,671 · program services $998,671

  • 19 · Conferences, conventions and meetings

    total $10,827 · program services $10,827

  • 20 · Interest

    total $2,104,852 · program services $2,104,852

  • 22 · Depreciation, depletion and amortization

    total $487,464 · program services $487,464

  • 24a · Other expenses: PROVISION FOR CREDIT &

    total $1,253,819 · program services $1,253,819

  • 24b · Other expenses: EXCHANGE FEES

    total $843,795 · program services $843,795

  • 24c · Other expenses: LOAN SERVICING

    total $515,375 · program services $515,375

  • 24d · Other expenses: SOFTWARE AND EQUIPMENT

    total $440,599 · program services $440,599

  • 24e · All other expenses

    total $1,346,007 · program services $1,346,007

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,678,978 · end of year $32,733,788

  • 2 · Savings and temporary cash investments

    beginning of year $15,046,798 · end of year $19,441,091

  • 7 · Other notes and loans receivable

    beginning of year $236,669,436 · end of year $214,997,557

  • 9 · Prepaid expenses and deferred charges

    beginning of year $758,246 · end of year $1,113,991

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

    $13,445,889

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

    $6,618,125

  • 10c · Land, buildings and equipment, net

    beginning of year $7,426,032 · end of year $6,827,764

  • 11 · Investments: publicly traded securities

    beginning of year $56,733,595 · end of year $49,643,217

  • 14 · Intangible assets

    beginning of year $130,423

  • 15 · Other assets

    beginning of year $16,313,995 · end of year $16,488,757

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,092,402 · end of year $1,092,506

  • 21 · Escrow or custodial account liability

    beginning of year $143,229 · end of year $172,553

  • 25 · Other liabilities

    beginning of year $297,559,318 · end of year $289,270,866

  • 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 $47,962,554 · end of year $50,710,240

Mission and programs · 2024

Mission

THE CREDIT UNION ENCOURAGES THRIFT AMONG ITS MEMBERS, PROVIDES CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, AND PROVIDES AN OPPORTUNITY FOR MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.

Activities or mission (Part I)

THE CREDIT UNION PROVIDES LOW COST RETAIL FINANCIAL SERVICES TO OVER 19,000 OWNER/MEMBERS WHO PRIMARILY RESIDE IN 13 OREGON COUNTIES. SERVICES INCLUDE CONSUMER, BUSINESS AND CREDIT CARD LOANS AS WELL AS CHECKING AND SAVINGS PROGRAMS, AND DEBIT CARD SERVICES.

  • THE CREDIT UNION PROVIDED LOW COST RETAIL FINANCIAL SERVICES TO MORE THAN 19,000 OWNER/MEMBERS THROUGH SEVEN BRANCHES LOCATED IN 13 OREGON COUNTIES AND HUNDREDS OF ATMS AND SHARED BRANCH LOCATIONS WITH OTHER CREDIT UNIONS. SERVICES INCLUDE SAVINGS AND DEPOSIT ACCOUNTS; CONSUMER, MORTGAGE, CREDIT CARD AND SMALL BUSINESS LOANS.

    Expenses $15,285,173 · Revenue $17,804,427

As filed on the 2024 return.

Listed in Part VII

  • Marian Griffiths

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Brian Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Jeff Coffman

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2
  • Alicia Anderson

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Jim McBride

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Trish Rolin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Paul Dawson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Milton Launius

    CEO

    Total calculated
    $365,209
    From this org
    $332,889
    From related orgs
    $0
    Other
    $32,320
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $332,889
    Bonus
    $0
    Other
    $0
    Deferred
    $19,000
    Nontaxable benefits
    $13,320
    Filer's total
    $365,209
  • Scott Wetzler

    CFO

    Total calculated
    $188,146
    From this org
    $183,173
    From related orgs
    $0
    Other
    $4,973
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $183,173
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,973
    Filer's total
    $188,146

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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 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

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
17 November 2025
IRS schema version
2024v5.2
Source object
202533219349312343

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