Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: LOAN INTEREST

  total $57,124,243 · related or exempt $57,124,243

• 2b · Program service revenue: FEES & OTHER INCOME

  total $19,993,243 · related or exempt $19,941,746 · unrelated business $51,497

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $19,029,691 · related or exempt $19,029,691

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 8c · Net income from fundraising events

  total $0

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $248,660

• 5 · Compensation of officers, directors and key employees

  total $3,295,559

• 7 · Other salaries and wages

  total $16,853,549

• 8 · Pension plan contributions

  total $1,892,310

• 9 · Other employee benefits

  total $4,686,598

• 10 · Payroll taxes

  total $1,481,376

• 11b · Fees: legal

  total -$4,212

• 11c · Fees: accounting

  total $146,250

• 11g · Fees: other

  total $0

• 12 · Advertising and promotion

  total $2,114,732

• 13 · Office expenses

  total $3,205,617

• 14 · Information technology

  total $4,952,534

• 16 · Occupancy

  total $2,440,158

• 17 · Travel

  total $126,314

• 19 · Conferences, conventions and meetings

  total $870,033

• 20 · Interest

  total $28,235,154

• 22 · Depreciation, depletion and amortization

  total $2,788,570

• 23 · Insurance

  total $641,467

• 24a · Other expenses: COLLECTION/LOAN SERVICE

  total $5,330,959

• 24b · Other expenses: PROVISION FOR LOAN LOSS

  total $5,655,284

• 24c · Other expenses: FRAUD EXPENSES

  total $718,212

• 24d · Other expenses: EXAMINATION FEES

  total $175,200

• 24e · All other expenses

  total $4,821,417

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,850,502 · end of year $6,111,237

• 2 · Savings and temporary cash investments

  beginning of year $103,771,446 · end of year $46,358,308

• 4 · Accounts receivable

  beginning of year $22,461,580 · end of year $26,444,617

• 5 · Loans and receivables from officers and key people

  beginning of year $405,587 · end of year $406,053

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $878,483,454 · end of year $922,458,498

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,262,478 · end of year $3,418,609

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

  $53,643,383

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

  $21,156,866

• 10c · Land, buildings and equipment, net

  beginning of year $29,852,851 · end of year $32,486,517

• 12 · Investments: other securities

  beginning of year $242,514,545 · end of year $298,905,966

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $922,453 · end of year $522,410

• 15 · Other assets

  beginning of year $29,134,744 · end of year $26,299,430

• 17 · Accounts payable and accrued expenses

  beginning of year $3,880,719 · end of year $3,384,213

• 21 · Escrow or custodial account liability

  beginning of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $1,183,617,919 · end of year $1,212,327,864

• 31 · Retained earnings, endowment or other funds

  beginning of year $129,161,002 · end of year $147,699,568

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A TRAVEL FOR COMPANIONS

THE BOARD OF DIRECTORS CAN RECEIVE REIMBURSEMENT OF FLIGHT, MEALS, AND REGISTRATION FEES FOR TRAVELING COMPANIONS. THIS IS TREATED AS A TAXABLE BENEFIT AND 1099'S ARE ISSUED FOR REIMBURSEMENTS FOR THE YEAR TOTALING OVER $600.

SCHEDULE J, PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS

PAID BOARD MEMBERS GROSS-UP PAYMENTS OF 30% FOR THE COMPANION TO OFFSET THE BENEFIT AND 1099'S ARE ISSUED FOR REIMBURSEMENTS FOR THE YEAR TOTALING OVER NONEMPLOYEE COMPENSATION INCURRED TAX LIABILITY.

SCHEDULE J, PART I, LINE 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION

THE CREDIT UNION HIRES A THIRD-PARTY (HUMANIDEI) AS AN INDEPENDENT COMPENSATION CONSULTANT TO LOOK AT MARKET VALUES. THE CEO IS UNDER A WRITTEN EMPLOYMENT CONTRACT. HUMANIDEI UTILIZED A COMPENSATION SURVEY AND IT WAS APPROVED BY THE BOARD OF DIRECTORS.

SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN

THE FOLLOWING INDIVIDUAL PARTICATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN BUT DID NOT RECEIVE A DISTRIBUTION OR HAVE AN AMOUNT VEST IN THE PLAN. INDIVIDUALS BECOME VESTED IN THE PLAN IF THE PARTICIPANT REMAINS CONTINUOUSLY EMPLOYED WITH THE CREDIT UNION DURING THE SERVICE PERIOD: CHAZ RZEWNICKI THE CREDIT UNION HAS A SPLIT DOLLAR PLAN IN PLACE FOR THE FORMER PRESIDENT AND CEO, ALLAN MCMORRIS. THE CREDIT UNION MAKES A LOAN TO THE EXECUTIVE WHO BUYS A LIFE INSURANCE POLICY THAT CREATES A FUND FROM WHICH THE EXECUTIVE BORROWS TAX-FREE TO SUPPLEMENT RETIREMENT INCOME. FULL VESTING OF THIS ACCOUNT IS ACHIEVED IF FULL EMPLOYMENT IS MAINTINED TO VESTING DATE OR TERMINATION OF EMPLOYMENT DUE TO DISABILITY, INVOLUNTARY TERMINATION WITHOUT CAUSE, DEATH, OR A CHANGE IN CONTROL GREATER THAN 50% OF THE OWNERSHIP INTERESTS IN THE CREDIT UNION. THE LOAN RELATED TO THIS PLAN IS SHOWN ON SCHEDULE L.