Totals
- Total revenue
- $159,490,682
- Total expenses
- $138,607,145
- Contributions and grants received
- $0
- Grants paid
- $78,692
- Program service revenue
- $115,442,719
- Investment income
- $29,589,886
- Other revenue
- $14,458,077
- Total assets, end of year
- $2,772,150,576
- Total liabilities, end of year
- $2,494,120,075
- Net assets or fund balances, end of year
- $278,030,501
- 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: INTEREST ON LOANS
total $99,071,145 · related or exempt $99,071,145
-
2b · Program service revenue: SERVICE CHARGES & FEES
total $16,371,574 · related or exempt $16,053,758 · unrelated business $317,816
-
3 · Investment income
total $29,677,869 · unrelated business $311,741 · excluded $29,366,128
-
6a · Gross rents
real property $77,721
-
6b · Less rental expenses
real property $48,319
-
6c · Rental income or loss
real property $29,402
-
6d · Net rental income or loss
total $29,402 · excluded $29,402
-
7a · Gross sales of assets other than inventory
securities $1,179,758 · other assets $12,100
-
7b · Less cost or other basis and sales expenses
securities $1,269,233 · other assets $10,608
-
7c · Gain or loss
securities -$89,475 · other assets $1,492
-
7d · Net gain or loss
total -$87,983 · excluded -$87,983
-
11a · Other revenue: INTERCHANGE INCOME
total $13,681,001 · related or exempt $13,681,001
-
11b · Other revenue: OTHER REVENUE
total $747,674 · related or exempt $747,674
-
11e · Other revenue, total
$14,428,675
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,192
-
2 · Grants to domestic individuals
total $77,500
-
5 · Compensation of officers, directors and key employees
total $6,232,159
-
7 · Other salaries and wages
total $35,536,842
-
8 · Pension plan contributions
total $3,674,481
-
9 · Other employee benefits
total $5,165,456
-
10 · Payroll taxes
total $3,503,315
-
11b · Fees: legal
total $7,278
-
11c · Fees: accounting
total $207,510
-
11g · Fees: other
total $575,791
-
12 · Advertising and promotion
total $2,525,524
-
13 · Office expenses
total $4,718,912
-
14 · Information technology
total $3,986,249
-
16 · Occupancy
total $3,611,404
-
17 · Travel
total $262,174
-
20 · Interest
total $48,529,718
-
23 · Insurance
total $298,013
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $8,721,590
-
24b · Other expenses: LOAN SERVICING
total $6,022,328
-
24c · Other expenses: FEDERAL EXCISE TAX
total $633,692
-
24d · Other expenses: TAXES ON UBI
total $200,181
-
24e · All other expenses
total $4,115,836
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $9,282,832 · end of year $48,259,769
-
2 · Savings and temporary cash investments
beginning of year $292,168,073 · end of year $230,824,766
-
5 · Loans and receivables from officers and key people
beginning of year $4,599,490 · end of year $4,404,414
-
7 · Other notes and loans receivable
beginning of year $1,866,921,135 · end of year $1,902,269,386
-
10a · Land, buildings and equipment: cost or other basis
$72,789,825
-
10b · Land, buildings and equipment: accumulated depreciation
$30,787,329
-
10c · Land, buildings and equipment, net
beginning of year $41,843,093 · end of year $42,002,496
-
11 · Investments: publicly traded securities
beginning of year $472,617,973 · end of year $503,727,059
-
12 · Investments: other securities
beginning of year $4,352,396 · end of year $4,733,934
-
15 · Other assets
beginning of year $35,462,568 · end of year $35,928,752
-
17 · Accounts payable and accrued expenses
beginning of year $22,631,617 · end of year $24,747,881
-
21 · Escrow or custodial account liability
beginning of year $1,137,012 · end of year $1,332,681
-
25 · Other liabilities
beginning of year $2,449,336,377 · end of year $2,468,039,513
-
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 $254,142,554 · end of year $278,030,501
Mission and programs · 2024
Mission
SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION.
-
THE CREDIT UNION PAID OVER $48 MILLION IN DIVIDENDS TO MEMBERS. DEPOSIT ACCOUNTS INCLUDE SAVINGS, CHECKING, MONEY MARKET ACCOUNTS AND CERTIFICATES OF DEPOSIT. AS OF DECEMBER 31, 2024, DEPOSITS TOTALED $2.5 BILLION.
-
THE CREDIT UNION DISBURSED OVER $496 MILLION IN NEW LOANS TO MEMBERS. LOANS INCLUDE AUTO, HOME MORTGAGE, HOME EQUITY, CREDIT CARD, AND BUSINESS LOANS. AT DECEMBER 31, 2024, LOANS OUTSTANDING TOTALED $1.9 BILLION.
-
DURING 2024, THE CREDIT UNION PROVIDED FINANCIAL PLANNING SERVICES TO APPROXIMATELY 2,700 MEMBERS WITH ASSETS UNDER MANAGEMENT OF $420 MILLION.
As filed on the 2024 return.
Listed in Part VII
-
CAROL BECKLEY
PRESIDENT/CHAIRPERSON
- Total calculated
- $27,500
- From this org
- $27,500
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
TONY SAXMAN
VICE PRESIDENT/VICE CHAIRPERSON
- Total calculated
- $25,732
- From this org
- $25,732
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
CURT HEIMULLER
DIRECTOR
- Total calculated
- $25,695
- From this org
- $25,695
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
JIM ANTONINI
DIRECTOR
- Total calculated
- $22,917
- From this org
- $22,917
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
TAMMI MILLER
DIRECTOR
- Total calculated
- $22,917
- From this org
- $22,917
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
J ROBERT NEWCOMB
CEO AND SECRETARY
- Total calculated
- $4,606,434
- From this org
- $4,559,046
- From related orgs
- $0
- Other
- $47,388
- Hours/week
- 60 + 5 related
Schedule J breakdown matched by us
- Base
- $3,209,748
- Bonus
- $1,335,744
- Other
- $13,554
- Deferred
- $25,875
- Nontaxable benefits
- $21,513
- Filer's total
- $4,606,434
-
TIFFANY WASHINGTON
EVP FINANCE & OPERATIONS & TREASURER
- Total calculated
- $536,107
- From this org
- $499,132
- From related orgs
- $0
- Other
- $36,975
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $432,029
- Bonus
- $63,342
- Other
- $3,761
- Deferred
- $25,875
- Nontaxable benefits
- $11,100
- Filer's total
- $536,107
-
CRAIG CARPENTER
SVP LENDING & BUSINESS BANKING
- Total calculated
- $964,859
- From this org
- $929,264
- From related orgs
- $0
- Other
- $35,595
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $377,163
- Bonus
- $53,997
- Other
- $498,104
- Deferred
- $25,875
- Nontaxable benefits
- $9,720
- Filer's total
- $964,859
-
KIRK LETOURNEAU
SVP INFORMATION SERVICES AND TECH
- Total calculated
- $427,552
- From this org
- $391,957
- From related orgs
- $0
- Other
- $35,595
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $332,407
- Bonus
- $52,013
- Other
- $7,537
- Deferred
- $25,875
- Nontaxable benefits
- $9,720
- Filer's total
- $427,552
-
STEVEN MCINTIRE
SVP ENTERPRISE RISK & GEN. COUNSEL
- Total calculated
- $420,085
- From this org
- $384,490
- From related orgs
- $0
- Other
- $35,595
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $327,249
- Bonus
- $52,070
- Other
- $5,171
- Deferred
- $25,875
- Nontaxable benefits
- $9,720
- Filer's total
- $420,085
-
MICHAEL DONACA
VP COMMERCIAL & BUSINESS BANKING
- Total calculated
- $300,278
- From this org
- $277,503
- From related orgs
- $0
- Other
- $22,775
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $229,522
- Bonus
- $47,381
- Other
- $600
- Deferred
- $22,775
- Nontaxable benefits
- $0
- Filer's total
- $300,278
-
MICHAEL SAULEY
VP CONSUMER LENDING
- Total calculated
- $292,680
- From this org
- $260,239
- From related orgs
- $0
- Other
- $32,441
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $231,506
- Bonus
- $27,328
- Other
- $1,405
- Deferred
- $22,025
- Nontaxable benefits
- $10,416
- Filer's total
- $292,680
-
AILENE MANION
VP MEMBER EXPERIENCE
- Total calculated
- $284,142
- From this org
- $250,768
- From related orgs
- $0
- Other
- $33,374
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $222,558
- Bonus
- $26,922
- Other
- $1,288
- Deferred
- $20,906
- Nontaxable benefits
- $12,468
- Filer's total
- $284,142
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 · Tax indemnification and gross-up payments
- 1b · Written policy on the line-1a expenses
- 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 1A
- THE CREDIT UNION WILL PROVIDE AIRFARE FOR A TRAVEL PARTNER FOR EACH BOARD MEMBER TO ONE NATIONAL CONFERENCE WITHIN THE UNITED STATES PER YEAR. THE AIRFAIRE IS REPORTED AS TAXABLE INCOME TO THE BOARD MEMBER. THE CREDIT UNION PROVIDES TAX GROSS-UP PAYMENTS TO ITS CEO. THESE BENEFITS ARE REPORTED AS TAXABLE INCOME FOR EACH INDIVIDUAL RECEIVING A BENEFIT.
- PART I, LINE 4B
- J ROBERT NEWCOMB PARTICIPATES IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2024. TIFFANY WASHINGTON, CRAIG CARPENTER, STEVE MCINTIRE, AND KIRK LETOURNEAU PARTICIPATE IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2024. SENIOR EXECUTIVES PARTICIPATE IN A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN. CRAIG CARPENTER'S PLAN REACHED IT'S MATURITY DATE AND $492,918 WERE DISTRIBUTED.
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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
AUTO DEALER · OR · income -$7,124 · assets $13,029
Directly controlled by SELCO COMMUNITY CREDIT UNION
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C · INSURANCE SALES · OR · 100% owned · share of income $240,500 · share of assets $3,506,277 · controlled entity
Directly controlled by SELCO COMMUNITY CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 5 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543119349302974
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