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Nonprofiteer
← ROGUE CREDIT UNION

Form 990 for tax year 2023

Filed by ROGUE CREDIT UNION.

Totals

Total revenue
$190,096,600
Total expenses
$162,205,014
Contributions and grants received
$0
Grants paid
$362,193
Program service revenue
$152,996,061
Investment income
$37,100,539
Other revenue
$0
Total assets, end of year
$3,362,829,205
Total liabilities, end of year
$3,123,419,626
Net assets or fund balances, end of year
$239,409,579
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 $112,595,748 · related or exempt $112,595,748

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $36,430,095 · related or exempt $36,638,542 · unrelated business -$208,447

  • 2c · Program service revenue: SERVICE CHARGES & FEES

    total $3,970,218 · related or exempt $3,678,783 · unrelated business $291,435

  • 3 · Investment income

    total $41,702,805 · excluded $41,702,805

  • 7a · Gross sales of assets other than inventory

    securities $29,540,619 · other assets $4,979,916

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

    securities $34,052,825 · other assets $5,069,976

  • 7c · Gain or loss

    securities -$4,512,206 · other assets -$90,060

  • 7d · Net gain or loss

    total -$4,602,266 · excluded -$4,602,266

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $362,193

  • 5 · Compensation of officers, directors and key employees

    total $3,707,997

  • 6 · Compensation of disqualified persons

    total $1,381,063

  • 7 · Other salaries and wages

    total $40,811,083

  • 8 · Pension plan contributions

    total $2,214,134

  • 9 · Other employee benefits

    total $6,085,898

  • 10 · Payroll taxes

    total $3,761,120

  • 11b · Fees: legal

    total $161,478

  • 11c · Fees: accounting

    total $287,478

  • 11g · Fees: other

    total $7,775,954

  • 12 · Advertising and promotion

    total $3,141,408

  • 13 · Office expenses

    total $5,517,669

  • 14 · Information technology

    total $2,073,053

  • 16 · Occupancy

    total $3,690,062

  • 17 · Travel

    total $429,657

  • 20 · Interest

    total $39,762,042

  • 22 · Depreciation, depletion and amortization

    total $5,803,182

  • 23 · Insurance

    total $471,059

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $17,963,033

  • 24b · Other expenses: LOAN SERVICING

    total $7,639,194

  • 24c · Other expenses: ATM MAINTENANCE

    total $1,055,900

  • 24d · Other expenses: UBIT TAXES PAID

    total $10,000

  • 24e · All other expenses

    total $8,100,357

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,208,070 · end of year $20,476,815

  • 2 · Savings and temporary cash investments

    beginning of year $15,511,362 · end of year $107,228,659

  • 5 · Loans and receivables from officers and key people

    beginning of year $10,467,041 · end of year $10,645,321

  • 7 · Other notes and loans receivable

    beginning of year $1,922,627,285 · end of year $1,933,053,035

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

    $148,293,334

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

    $41,885,726

  • 10c · Land, buildings and equipment, net

    beginning of year $105,905,651 · end of year $106,407,608

  • 11 · Investments: publicly traded securities

    beginning of year $767,718,724 · end of year $898,502,110

  • 12 · Investments: other securities

    beginning of year $13,072,797 · end of year $150,358,424

  • 15 · Other assets

    beginning of year $101,536,495 · end of year $136,157,233

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,512,168 · end of year $63,381,618

  • 21 · Escrow or custodial account liability

    beginning of year $953,949 · end of year $1,252,573

  • 23 · Secured mortgages and notes payable

    beginning of year $17,449,651 · end of year $10,672,933

  • 24 · Unsecured notes and loans payable

    beginning of year $25,000,000 · end of year $149,652,341

  • 25 · Other liabilities

    beginning of year $2,679,843,502 · end of year $2,898,460,161

  • 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 $187,288,155 · end of year $239,409,579

Mission and programs · 2023

Mission

TO CREATE THE MOST LOYAL MEMBERS IN THE NATION BY PROVIDING EXCEPTIONAL EXPERIENCES THAT BUILD MUTUALLY BENEFICIAL RELATIONSHIPS.

Activities or mission (Part I)

A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION AND TO CONDUCT SUCH ACTIVITIES AS PERMITTED UNDER THE OREGON CREDIT UNION ACT.

  • CREATED A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDED AN OPPORTUNITY FOR MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. PROFITS ARE RETURNED TO MEMBERS IN THE FORM OF BETTER RATES AND LOWER FEES. MEMBERS ARE REWARDED THROUGH ROGUE REWARDS FOR PARTICIPATION THROUGH LOANS, DEPOSITS AND TRANSACTIONS.

  • N/A

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • SMITH PHILIP

    BOARD CHAIR

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JOHNSON HEATHER

    BOARD VICE CHAIR

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • ANGSTADT PETER

    BOARD SECRETARY

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • PALM ALEX M

    BOARD TREASURER

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • ITZEN NEIL

    BOARD MEMBER

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • HUTCHINSON KATIE M

    BOARD MEMBER

    Total calculated
    $19,571
    From this org
    $19,571
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • YASUDA ROGER

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • HAUCK GERALD

    BOARD MEMBER THRU 01/23

    Total calculated
    $1,750
    From this org
    $1,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • STEPHENSON MATTHEW C

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $1,337,002
    From this org
    $1,020,745
    From related orgs
    $0
    Other
    $316,257
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $763,942
    Bonus
    $249,167
    Other
    $7,636
    Deferred
    $290,519
    Nontaxable benefits
    $25,738
    Filer's total
    $1,337,002

  • THURMAN BLAKE

    CHIEF FINANCIAL OFFICER

    Total calculated
    $521,771
    From this org
    $379,375
    From related orgs
    $0
    Other
    $142,396
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $315,034
    Bonus
    $55,209
    Other
    $9,132
    Deferred
    $115,309
    Nontaxable benefits
    $27,087
    Filer's total
    $521,771

  • HEESE CHAD RICHARD

    CHIEF LENDING AND STRATEGY OFFICER

    Total calculated
    $700,559
    From this org
    $590,450
    From related orgs
    $0
    Other
    $110,109
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $315,224
    Bonus
    $269,650
    Other
    $5,576
    Deferred
    $82,936
    Nontaxable benefits
    $27,173
    Filer's total
    $700,559

  • PICKENS JEANNE M

    CHIEF OPERATIONS OFFICER

    Total calculated
    $517,391
    From this org
    $371,648
    From related orgs
    $0
    Other
    $145,743
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $310,027
    Bonus
    $57,030
    Other
    $4,591
    Deferred
    $120,000
    Nontaxable benefits
    $25,743
    Filer's total
    $517,391

  • ROBERSON JEFFRY DEE

    CHIEF INFORMATION OFFICER

    Total calculated
    $482,953
    From this org
    $366,521
    From related orgs
    $0
    Other
    $116,432
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $302,906
    Bonus
    $55,598
    Other
    $8,017
    Deferred
    $94,754
    Nontaxable benefits
    $21,678
    Filer's total
    $482,953

  • ENGLAND KELLIE L

    SVP OF MEMBER EXPERIENCE

    Total calculated
    $379,132
    From this org
    $283,645
    From related orgs
    $0
    Other
    $95,487
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $238,574
    Bonus
    $42,080
    Other
    $2,991
    Deferred
    $68,363
    Nontaxable benefits
    $27,124
    Filer's total
    $379,132

  • JOHNS TIMOTHY CHARLES

    SVP OF INFORMATION TECHOLOGY SERVICES

    Total calculated
    $362,600
    From this org
    $268,717
    From related orgs
    $0
    Other
    $93,883
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $227,108
    Bonus
    $41,609
    Other
    $0
    Deferred
    $71,141
    Nontaxable benefits
    $22,742
    Filer's total
    $362,600

  • OVERTON TROY R

    SVP OF CONSUMER AND MORTGAGE LENDING

    Total calculated
    $362,227
    From this org
    $278,076
    From related orgs
    $0
    Other
    $84,151
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $236,152
    Bonus
    $41,924
    Other
    $0
    Deferred
    $63,232
    Nontaxable benefits
    $20,919
    Filer's total
    $362,227

  • MULKINS SCOTT HAROLD

    SVP OF ANALYTICS AND ENTERPRISE RISK

    Total calculated
    $328,683
    From this org
    $255,804
    From related orgs
    $0
    Other
    $72,879
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $216,024
    Bonus
    $39,780
    Other
    $0
    Deferred
    $45,751
    Nontaxable benefits
    $27,128
    Filer's total
    $328,683

  • DEBEIKES CHRISTOPHER JAMES

    FINANCIAL ADVISOR

    Total calculated
    $327,939
    From this org
    $279,308
    From related orgs
    $0
    Other
    $48,631
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $2,699
    Bonus
    $276,609
    Other
    $0
    Deferred
    $22,344
    Nontaxable benefits
    $26,287
    Filer's total
    $327,939

  • PELHAM EUGENE L

    FORMER CEO

    Total calculated
    $1,381,063
    From this org
    $1,358,663
    From related orgs
    $0
    Other
    $22,400
    Hours/week
    0 + 1 related

    Schedule J breakdown matched by us

    Base
    $182,063
    Bonus
    $1,176,600
    Other
    $0
    Deferred
    $22,400
    Nontaxable benefits
    $0
    Filer's total
    $1,381,063

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 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 CEO RECEIVED REIMBURSED COMPANION TRAVEL EXPENSES NOT TREATED AS TAXABLE COMPENSATION SINCE ALL EXPENSES WERE DEEMED TO BE FOR A BONA FIDE BUSINESS PURPOSE FOR COMPANION VOLUNTEER ATTENDANCE AT CREDIT UNION SOCIAL EVENTS. THE CEO RECEIVED REIMBURSED DUES FOR COUNTRY CLUB SOCIAL MEMBERSHIP NOT TREATED AS TAXABLE COMPENSATION SINCE THE EXPENSES WERE DEEMED TO BE FOR A BONA FIDE BUSINESS PURPOSE.
PART I, LINE 4B
GENE PELHAM, RETIRED CEO, PARTICIPATED IN A SERP AND DISTRIBUTIONS OF $1,076,601 WERE MADE DURING THE YEAR. GENE PELHAM PARTICIPATED IN A 457(F) PLAN. CHAD HEESE, CHIEF LENDING AND STRATEGY OFFICER, PARTICIPATED IN A SERP AND DISTRIBUTIONS OF $216,276 WERE MADE DURING THE YEAR. CHAD HEESE PARTICIPATED IN A 457(F) PLAN.
STATEMENT FOR COMPLIANCE WITH TREAS. REG. SECTION 1.7872-15(D)(2):
THE CREDIT UNION (THE LENDER) ENTERED INTO SPLIT DOLLAR LIFE INSURANCE PLANS WITH VARIOUS EXECUTIVES. THESE AGREEMENTS INCLUDE NONRECOURSE LOANS TO THE EXECUTIVES (THE BORROWERS). IT IS EXPECTED THAT ALL PAYMENTS UNDER THE LOANS WILL BE MADE IN FULL INCLUDING INTEREST AT THE AFR APPLICABLE TO EACH LOAN.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202433189349311168

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