Totals
- Total revenue
- $13,305,618
- Total expenses
- $11,652,539
- Contributions and grants received
- $0
- Grants paid
- $10,000
- Program service revenue
- $9,747,537
- Investment income
- $3,501,793
- Other revenue
- $56,288
- Total assets, end of year
- $248,487,847
- Total liabilities, end of year
- $231,518,654
- Net assets or fund balances, end of year
- $16,969,193
- 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 INCOME
total $5,923,099 · related or exempt $5,923,099
-
2b · Program service revenue: FEE INCOME
total $2,447,881 · related or exempt $2,427,632 · unrelated business $20,249
-
2c · Program service revenue: OTHER OPERATING INCOME
total $1,376,557 · related or exempt $1,376,557
-
3 · Investment income
total $3,256,089 · related or exempt $3,256,089
-
7a · Gross sales of assets other than inventory
other assets $275,000
-
7b · Less cost or other basis and sales expenses
other assets $29,296
-
7c · Gain or loss
other assets $245,704
-
7d · Net gain or loss
total $245,704 · related or exempt $245,704
-
11a · Other revenue: SALE OF REPO AUTOS
total $35,039 · related or exempt $35,039
-
11b · Other revenue: OTHER NON INTEREST INCOME
total $21,249 · related or exempt $21,249
-
11e · Other revenue, total
$56,288
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,000
-
5 · Compensation of officers, directors and key employees
total $1,417,552
-
7 · Other salaries and wages
total $2,369,601
-
8 · Pension plan contributions
total $106,287
-
9 · Other employee benefits
total $392,091
-
10 · Payroll taxes
total $329,942
-
11b · Fees: legal
total $32,887
-
11c · Fees: accounting
total $70,707
-
11g · Fees: other
total $103,786
-
12 · Advertising and promotion
total $242,769
-
13 · Office expenses
total $1,874,672
-
14 · Information technology
total $716,016
-
16 · Occupancy
total $540,486
-
17 · Travel
total $31,534
-
20 · Interest
total $1,460,757
-
22 · Depreciation, depletion and amortization
total $405,772
-
23 · Insurance
total $4,899
-
24a · Other expenses: CREDIT LOSS EXPENSE
total $790,625
-
24b · Other expenses: LOAN SERVICING
total $499,750
-
24c · Other expenses: MISC. OPERATING EXPENSE
total $215,362
-
24d · Other expenses: OPERATING FEES
total $37,044
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,755,916 · end of year $1,108,358
-
2 · Savings and temporary cash investments
beginning of year $22,465,752 · end of year $20,262,855
-
5 · Loans and receivables from officers and key people
beginning of year $1,746,273 · end of year $868,335
-
9 · Prepaid expenses and deferred charges
beginning of year $472,904 · end of year $503,604
-
10a · Land, buildings and equipment: cost or other basis
$11,946,327
-
10b · Land, buildings and equipment: accumulated depreciation
$7,803,784
-
10c · Land, buildings and equipment, net
beginning of year $4,215,729 · end of year $4,142,543
-
11 · Investments: publicly traded securities
beginning of year $98,937,692 · end of year $93,107,087
-
13 · Investments: program-related
beginning of year $122,175,581 · end of year $125,766,077
-
15 · Other assets
beginning of year $3,070,090 · end of year $2,728,988
-
17 · Accounts payable and accrued expenses
beginning of year $3,283,253 · end of year $3,123,272
-
25 · Other liabilities
beginning of year $239,238,818 · end of year $228,395,382
-
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 $13,317,866 · end of year $16,969,193
Mission and programs · 2023
Mission
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, WESTSTAR CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
Activities or mission (Part I)
A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
-
WESTSTAR CREDIT UNION PROVIDES VARIOUS LOAN PRODUCTS INCLUDING RESIDENTIAL MORTGAGES, AUTO LOANS, CREDIT CARDS, AND OTHER CONSUMER LOANS.
-
WESTSTAR CREDIT UNION PROVIDES A VARIETY OF CHECKING AND SAVINGS ACCOUNTS TO MEET ITS MEMBERS' NEEDS.
-
WESTSTAR CREDIT UNION PROVIDES MEMBERS FREE ACCESS TO THEIR ACCOUNT INFORMATION VIA THE INTERNET AND MOBILE DEVICES. THE CREDIT UNION ALSO PROVIDES AN EXTENSIVE ATM NETWORK WITH OVER 28,000 SURCHARGE FREE ATMS VIA A CO-OP NETWORK.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Kevin OrrockKEVIN ORROCK
BOARD CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Jeff PeroJEFF PERO
VICE CHAIRMAN, AUDIT CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Craig HawkinsCRAIG HAWKINS
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Curtis ChingCURTIS CHING
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Doug MichaelDOUG MICHAEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Merv GuptonMERV GUPTON
AUDIT CMTE. CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
James HanischJAMES HANISCH
AUDIT CMTE MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Joan ScrivnerJOAN SCRIVNER
AUDIT CMTE. MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
William BarbeeWILLIAM BARBEE
AUDIT CMTE. MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
John BagentsJOHN BAGENTS
PRESIDENT/CEO
- Total calculated
- $254,138
- From this org
- $231,143
- From related orgs
- $0
- Other
- $22,995
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $225,013
- Bonus
- $0
- Other
- $6,130
- Deferred
- $1,208
- Nontaxable benefits
- $21,787
- Filer's total
- $254,138
-
Rick SchmidtRICK SCHMIDT
FORMER CEO
- Total calculated
- $527,399
- From this org
- $524,940
- From related orgs
- $0
- Other
- $2,459
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $5,000
- Other
- $519,940
- Deferred
- $309
- Nontaxable benefits
- $2,150
- Filer's total
- $527,399
-
Dion KoopDION KOOP
SVP/CFO
- Total calculated
- $224,683
- From this org
- $204,480
- From related orgs
- $0
- Other
- $20,203
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $186,871
- Bonus
- $17,000
- Other
- $609
- Deferred
- $8,418
- Nontaxable benefits
- $11,785
- Filer's total
- $224,683
-
Lorraine ValloneLORRAINE VALLONE
VP HR & TRAINING
- Total calculated
- $142,105
- From this org
- $125,303
- From related orgs
- $0
- Other
- $16,802
- Hours/week
- 40
-
Nina LeyvaNINA LEYVA
VP SALES SERVICE
- Total calculated
- $130,883
- From this org
- $114,395
- From related orgs
- $0
- Other
- $16,488
- Hours/week
- 40
-
Donna RumphDONNA RUMPH
VP INTERNAL CONTROLS
- Total calculated
- $126,912
- From this org
- $111,545
- From related orgs
- $0
- Other
- $15,367
- Hours/week
- 40
-
Bertha RoblesBERTHA ROBLES
VP CONTROLLER
- Total calculated
- $120,070
- From this org
- $105,746
- From related orgs
- $0
- Other
- $14,324
- Hours/week
- 40
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 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
- THE CREDIT UNION OFFERS A NONQUALIFIED RETIREMENT, 457(F) PLAN. THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN MEMBERS OF MANAGEMENT. UNDER THE TERMS OF THE PLAN, THE PARTICIPANTS ARE ENTITLED TO THE PRINCIPAL, EARNINGS AND APPRECIATION ON THE DEFERRED COMPENSATION PLAN INVESTMENTS, SUBJECT TO VESTING IF PLAN CONDITIONS ARE MET. THE DEFERRED COMPENSATION INVESTMENTS ARE SHOWN AS AN ASSET ON THE CREDIT UNION'S STATEMENTS OF FINANCIAL CONDITION. RICK SCHMIDT AND DION KOOP ARE PARTICIPANTS OF THE PLAN.
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
- 26 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202442769349300834
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