Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $84,091,007 · related or exempt $84,091,007

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

  total $14,491,125 · related or exempt $14,170,985 · unrelated business $320,140

• 2f · All other program service revenue

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

• 3 · Investment income

  total $25,999,181 · unrelated business $155,710 · excluded $25,843,471

• 6a · Gross rents

  real property $65,100

• 6b · Less rental expenses

  real property $50,694

• 6c · Rental income or loss

  real property $14,406 · personal property $0

• 6d · Net rental income or loss

  total $14,406 · excluded $14,406

• 7a · Gross sales of assets other than inventory

  securities $11,942,163 · other assets $2,761,911

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

  securities $12,041,660 · other assets $983,835

• 7c · Gain or loss

  securities -$99,497 · other assets $1,778,076

• 7d · Net gain or loss

  total $1,678,579 · excluded $1,678,579

• 11a · Other revenue: Interchange Income

  total $13,407,768 · related or exempt $13,407,768

• 11b · Other revenue: Other Revenue

  total $137,093 · related or exempt $137,093

• 11d · All other revenue

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

• 11e · Other revenue, total

  $13,544,861

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $53,506

• 2 · Grants to domestic individuals

  total $52,500

• 5 · Compensation of officers, directors and key employees

  total $5,002,254

• 7 · Other salaries and wages

  total $33,093,227

• 8 · Pension plan contributions

  total $3,444,605

• 9 · Other employee benefits

  total $4,904,342

• 10 · Payroll taxes

  total $3,070,482

• 11b · Fees: legal

  total $97,007

• 11c · Fees: accounting

  total $677,119

• 11g · Fees: other

  total $565,843

• 12 · Advertising and promotion

  total $2,210,580

• 13 · Office expenses

  total $4,976,719

• 14 · Information technology

  total $3,804,207

• 16 · Occupancy

  total $3,539,408

• 17 · Travel

  total $141,349

• 20 · Interest

  total $39,884,065

• 23 · Insurance

  total $248,030

• 24a · Other expenses: Federal Excise Tax

  total $505,956

• 24b · Other expenses: Provision for Loan Loss

  total $5,371,500

• 24c · Other expenses: Loan Servicing

  total $5,783,866

• 24d · Other expenses: UBI Taxes

  total $140,615

• 24e · All other expenses

  total $4,127,175

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $18,386,555 · end of year $9,282,832

• 2 · Savings and temporary cash investments

  beginning of year $56,950,612 · end of year $292,168,073

• 5 · Loans and receivables from officers and key people

  beginning of year $4,546,914 · end of year $4,599,490

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  beginning of year $1,888,024,561 · end of year $1,866,921,135

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

  $71,475,416

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

  $29,632,323

• 10c · Land, buildings and equipment, net

  beginning of year $43,786,676 · end of year $41,843,093

• 11 · Investments: publicly traded securities

  beginning of year $502,234,803 · end of year $472,617,973

• 12 · Investments: other securities

  beginning of year $6,927,177 · end of year $4,352,396

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $32,119,170 · end of year $35,462,568

• 17 · Accounts payable and accrued expenses

  beginning of year $16,921,912 · end of year $22,631,617

• 21 · Escrow or custodial account liability

  beginning of year $1,033,177 · end of year $1,137,012

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $31,500,000 · end of year $0

• 25 · Other liabilities

  beginning of year $2,276,619,047 · end of year $2,449,336,377

• 31 · Retained earnings, endowment or other funds

  beginning of year $226,902,332 · end of year $254,142,554

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

THE CREDIT UNION WILL PROVIDE AIRFARE FOR A TRAVEL PARTNER FOR EACH BOARD MEMBER TO ONE NATIONAL CONFERENCE WITHIN THE UNITED STATES PER YEAR. THE AIRFARE IS REPORTED AS TAXABLE INCOME TO THE BOARD MEMBER.

Schedule J, Part I, Line 1a Tax indemnification and gross-up payments

THE CREDIT UNION PROVIDES TAX GROSS-UP PAYMENTS TO ITS CEO. THESE BENEFITS ARE REPORTED AS TAXABLE INCOME FOR EACH INDIVIDUAL RECEIVING A BENEFIT.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

J ROBERT NEWCOMB PARTICIPATES IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2023. TIFFANY WASHINGTON, CRAIG CARPENTER, STEVE MCINTIRE, AND KIRK LETOURNEAU PARTICIPATE IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2023.

Disregarded entities

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

• Inova LLC

  Consulting · OR · income $0 · assets $0

  Directly controlled by Selco Community Credit Union

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Selco Group Inc

  C Corporation · Insurance Sales · OR · share of income $301,194 · share of assets $3,283,583 · controlled entity

  Directly controlled by Selco Community Credit Union