Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS TO MEMBERS

  total $78,864,504 · related or exempt $78,864,504

• 2b · Program service revenue: GAIN ON SALE OF LOANS

  total $16,453,246 · related or exempt $16,453,246

• 2c · Program service revenue: INTERCHANGE INCOME

  total $14,735,154 · related or exempt $14,735,154

• 2d · Program service revenue: FEES AND SERVICE CHARGES

  total $8,078,836 · related or exempt $8,029,615 · unrelated business $49,221

• 2e · Program service revenue: WEALTH MANAGEMENT INCOME

  total $3,751,254 · related or exempt $3,751,254

• 3 · Investment income

  total $16,478,998 · unrelated business -$442,640 · excluded $16,921,638

• 6a · Gross rents

  real property $116,620

• 6b · Less rental expenses

  real property $114,739

• 6c · Rental income or loss

  real property $1,881

• 6d · Net rental income or loss

  total $1,881 · excluded $1,881

• 7a · Gross sales of assets other than inventory

  securities $309,118 · other assets $4,905

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

  securities $177,749 · other assets $18,347

• 7c · Gain or loss

  securities $131,369 · other assets -$13,442

• 7d · Net gain or loss

  total $117,927 · excluded $117,927

• 11a · Other revenue: CONTRACT SETTLEMENT INCOME

  total $1,317,074 · related or exempt $1,317,074

• 11b · Other revenue: OTHER INCOME

  total $757,290 · related or exempt $757,290

• 11c · Other revenue: RECAPTURE OF LOAN LOSSES

  total $234,475 · related or exempt $234,475

• 11e · Other revenue, total

  $2,308,839

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $319,672

• 5 · Compensation of officers, directors and key employees

  total $7,309,562

• 7 · Other salaries and wages

  total $54,728,888

• 8 · Pension plan contributions

  total $688,131

• 9 · Other employee benefits

  total $6,482,590

• 10 · Payroll taxes

  total $4,266,241

• 11b · Fees: legal

  total $262,091

• 11c · Fees: accounting

  total $600,423

• 11g · Fees: other

  total $3,785,497

• 12 · Advertising and promotion

  total $5,618,322

• 13 · Office expenses

  total $4,811,818

• 14 · Information technology

  total $9,703,243

• 16 · Occupancy

  total $5,191,017

• 19 · Conferences, conventions and meetings

  total $724,826

• 20 · Interest

  total $4,680,758

• 22 · Depreciation, depletion and amortization

  total $7,843,666

• 23 · Insurance

  total $512,607

• 24a · Other expenses: LOAN SERVICING EXPENSE

  total $7,590,620

• 24b · Other expenses: CARD SERVICE EXPENSE

  total $3,084,974

• 24c · Other expenses: MISCELLANOUS EXPENSE

  total $1,800,427

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $14,135,132 · end of year $15,493,592

• 2 · Savings and temporary cash investments

  beginning of year $850,525,751 · end of year $23,594,461

• 7 · Other notes and loans receivable

  beginning of year $1,759,998,621 · end of year $2,281,789,785

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,269,552 · end of year $4,630,235

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

  $121,844,365

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

  $59,769,919

• 10c · Land, buildings and equipment, net

  beginning of year $66,570,357 · end of year $62,074,446

• 11 · Investments: publicly traded securities

  end of year $191,687,502

• 12 · Investments: other securities

  beginning of year $381,226,051 · end of year $569,154,246

• 14 · Intangible assets

  beginning of year $5,652,582 · end of year $5,652,582

• 15 · Other assets

  beginning of year $159,899,807 · end of year $140,473,805

• 17 · Accounts payable and accrued expenses

  beginning of year $54,414,435 · end of year $60,488,060

• 21 · Escrow or custodial account liability

  beginning of year $46,933,921 · end of year $60,263,886

• 23 · Secured mortgages and notes payable

  end of year $25,287,113

• 25 · Other liabilities

  beginning of year $2,839,638,332 · end of year $2,865,410,858

• 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 $11,879,721 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $289,411,444 · end of year $283,100,737

The filer's explanations (Part III)

PART I, LINE 1A

A FORM 1099 IS ISSUED FOR TRAVEL EXPENSES INCURRED BY THE ORGANIZATION FOR A COMPANION. THE ORGANIZATION'S TRAVEL POLICY ALLOWS EMPLOYEES TO TRAVEL USING BUSINESS CLASS IF THE BUSINESS FLIGHT WILL LAST MORE THAN FOUR HOURS. IN THE CASE WHERE THE AIRLINE IS ONLY OFFERING ECONOMY OR FIRST CLASS TRAVEL FOR A FLIGHT THAT WILL LAST FOR GREATER THAN FOUR HOURS, IT IS ALLOWABLE TO BOOK FIRST CLASS TRAVEL AS THERE IS NO ALTERNATIVE BUSINESS CLASS.

PART I, LINE 4B

THE CREDIT UNION HAS ENTERED INTO 457(F) DEFERRED COMPENSATION AGREEMENTS WITH CERTAIN SENIOR EXECUTIVES. THE FOLLOWING WERE THE ACCRUAL BALANCES AS OF 12/31/22: GERRY AGNES: $1,487,165 MICHAEL CALCOTE: $273,070 RAYMOND LINDLEY: $538,531 TODD PEYOK: $253,625 TAMMY TEITSCHEID: $511,477 BRIAN HOLST: $27,899 ELIZABETH MILLION: $253,625 DUSTIN MONTOYA: $71,015 WENDY BESWICK: $10,145