Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INCOME ON LOANS

  total $63,760,756 · related or exempt $63,760,756

• 2b · Program service revenue: FEES AND CHARGES

  total $5,674,353 · related or exempt $5,674,353

• 2c · Program service revenue: UNRELATED BUSINESS INC

  total $339,607 · unrelated business $339,607

• 3 · Investment income

  total $8,417,366 · related or exempt $8,417,366

• 6a · Gross rents

  real property $68,409

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $68,409

• 6d · Net rental income or loss

  total $68,409 · related or exempt $68,409

• 7a · Gross sales of assets other than inventory

  securities $30,260,890 · other assets $80

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

  securities $30,305,722 · other assets $1,108

• 7c · Gain or loss

  securities -$44,832 · other assets -$1,028

• 7d · Net gain or loss

  total -$45,860 · related or exempt -$45,860

• 11a · Other revenue: INTERCHANGE INCOME

  total $12,851,067 · related or exempt $12,851,067

• 11b · Other revenue: OTHER INCOME

  total $2,491,884 · related or exempt $2,491,884

• 11c · Other revenue: MORTGAGE SERVICING RIG

  total $874,324 · related or exempt $874,324

• 11d · All other revenue

  total $117,904 · related or exempt $117,904

• 11e · Other revenue, total

  $16,335,179

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $254,107

• 2 · Grants to domestic individuals

  total $25,000

• 5 · Compensation of officers, directors and key employees

  total $4,567,663

• 7 · Other salaries and wages

  total $14,631,785

• 8 · Pension plan contributions

  total $2,118,068

• 9 · Other employee benefits

  total $5,240,862

• 10 · Payroll taxes

  total $1,767,678

• 11b · Fees: legal

  total $6,064

• 11c · Fees: accounting

  total $133,834

• 11f · Fees: investment management

  total $75,735

• 11g · Fees: other

  total $6,350,682

• 12 · Advertising and promotion

  total $1,207,737

• 13 · Office expenses

  total $3,098,720

• 14 · Information technology

  total $1,840,009

• 16 · Occupancy

  total $3,208,342

• 17 · Travel

  total $53,331

• 19 · Conferences, conventions and meetings

  total $156,612

• 20 · Interest

  total $3,370,063

• 22 · Depreciation, depletion and amortization

  total $1,977,871

• 23 · Insurance

  total $144,335

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $9,159,303

• 24b · Other expenses: OTHER LOAN EXPENSES

  total $3,330,295

• 24c · Other expenses: ATM EXPENSES

  total $223,844

• 24d · Other expenses: OPERATING FEES

  total $138,435

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $14,827,125 · end of year $17,394,783

• 2 · Savings and temporary cash investments

  beginning of year $125,897,948 · end of year $24,083,361

• 4 · Accounts receivable

  beginning of year $594,943 · end of year $974,981

• 7 · Other notes and loans receivable

  beginning of year $1,158,868,348 · end of year $1,368,367,779

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,680,361 · end of year $2,199,060

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

  $61,847,705

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

  $21,430,574

• 10c · Land, buildings and equipment, net

  beginning of year $40,256,530 · end of year $40,417,131

• 11 · Investments: publicly traded securities

  beginning of year $692,390,210 · end of year $598,569,069

• 12 · Investments: other securities

  beginning of year $7,810,772 · end of year $11,376,366

• 15 · Other assets

  beginning of year $46,268,529 · end of year $76,770,714

• 17 · Accounts payable and accrued expenses

  beginning of year $23,059,952 · end of year $28,401,884

• 21 · Escrow or custodial account liability

  beginning of year $3,023,490 · end of year $2,217,132

• 23 · Secured mortgages and notes payable

  end of year $43,355,967

• 25 · Other liabilities

  beginning of year $1,852,620,913 · end of year $1,886,752,474

• 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 $0 · end of year $0

The filer's explanations (Part III)

PART I, LINES 4A-B

B HUMPHREY-ANDERSON: $40,000 R. HEIN: $56,000 SOME MEMBERS OF THE EXECUTIVE LEADERSHIP PARTICIPATE IN NON-QUALIFIED RETIREMENT PLANS. THE FOLLOWING REPRESENT THE AMOUNTS ACCRUED FOR EACH PARTICIPANT DURING THE YEAR ENDED DECEMBER 31, 2022: R. HEIN, 457F SERP $28,927 R. HEILE-BROWN, 457F SERP $57,592 C. COLE, 457F SERP $61,324 J. GIBSON, 457F SERP $41,046 L. ROE, 457F SERP $31,896 J. BRANNEN, 457F SERP $6,154 J. WHISENHUNT, 457F SERP $11,054 THE FOLLOWING MEMBERS OF THE EXECUTIVE LEADERSHIP RECEIVED PAYOUTS RELATED TO THEIR NON-QUALIFIED RETIREMENT PLANS DURING THE YEAR ENDED DECEMBER 31, 2022: C. COLE, TAXES PAID ON VESTED PORTION OF 457F SERP $746,000 (ADDITIONAL $368,375 DISBURSED FROM CURRENT EXPENSE TO COVER TAXES) R. HIELE-BROWN, TAXES PAID ON VESTED PORTION OF 457F SERP $500,000 (ADDITIONAL $246,750 DISBURSED FROM CURRENT EXPENSE TO COVER TAXES)

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• OSU FINANCIAL SERVICES LLC

  INSURANCE PRODUCTS · OR · income $219,929 · assets $194,801

  Directly controlled by OREGON STATE CREDIT UNION