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Nonprofiteer
← WHITEFISH CREDIT UNION ASSOCIATION

Form 990 for tax year 2024

Filed by WHITEFISH CREDIT UNION ASSOCIATION.

Totals

Total revenue
$90,196,847
Total expenses
$87,938,601
Contributions and grants received
$0
Grants paid
$306,259
Program service revenue
$64,822,777
Investment income
$25,341,219
Other revenue
$32,851
Total assets, end of year
$1,946,130,425
Total liabilities, end of year
$1,795,352,097
Net assets or fund balances, end of year
$150,778,328
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: LOAN INTEREST

    total $62,136,159 · related or exempt $62,136,159

  • 2b · Program service revenue: CARD INTERCHANGE FEES

    total $1,413,667 · related or exempt $1,413,667

  • 2c · Program service revenue: FEE SERVICE INCOME

    total $1,272,951 · related or exempt $1,251,669 · unrelated business $21,282

  • 3 · Investment income

    total $25,342,778 · excluded $25,342,778

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

    other assets $1,559

  • 7c · Gain or loss

    other assets -$1,559

  • 7d · Net gain or loss

    total -$1,559 · excluded -$1,559

  • 11a · Other revenue: OTHER OPERATING INCOME

    total $32,851 · related or exempt $32,851

  • 11e · Other revenue, total

    $32,851

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $306,259

  • 5 · Compensation of officers, directors and key employees

    total $4,105,031

  • 7 · Other salaries and wages

    total $12,252,979

  • 8 · Pension plan contributions

    total $1,564,869

  • 9 · Other employee benefits

    total $3,770,715

  • 10 · Payroll taxes

    total $1,250,842

  • 11b · Fees: legal

    total $141,979

  • 11c · Fees: accounting

    total $252,175

  • 11g · Fees: other

    total $853,128

  • 12 · Advertising and promotion

    total $1,453,914

  • 13 · Office expenses

    total $826,563

  • 14 · Information technology

    total $2,990,199

  • 16 · Occupancy

    total $1,513,908

  • 17 · Travel

    total $128,904

  • 20 · Interest

    total $50,846,284

  • 22 · Depreciation, depletion and amortization

    total $1,428,696

  • 23 · Insurance

    total $201,812

  • 24a · Other expenses: LOAN SERVICING & OPERAT

    total $1,394,151

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $1,253,411

  • 24c · Other expenses: CARD EXPENSES

    total $811,686

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $258,062

  • 24e · All other expenses

    total $333,034

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,523,622 · end of year $4,160,995

  • 2 · Savings and temporary cash investments

    beginning of year $115,056,366 · end of year $36,161,057

  • 5 · Loans and receivables from officers and key people

    beginning of year $4,766,817 · end of year $5,228,304

  • 7 · Other notes and loans receivable

    beginning of year $1,253,518,516 · end of year $1,257,287,684

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,131,883 · end of year $2,367,443

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

    $40,440,010

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

    $12,632,413

  • 10c · Land, buildings and equipment, net

    beginning of year $26,132,162 · end of year $27,807,597

  • 11 · Investments: publicly traded securities

    beginning of year $622,891,760 · end of year $551,373,742

  • 12 · Investments: other securities

    beginning of year $1,296,400 · end of year $3,501,200

  • 15 · Other assets

    beginning of year $55,892,011 · end of year $58,242,403

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,940,152 · end of year $15,976,085

  • 23 · Secured mortgages and notes payable

    beginning of year $200,000,000 · end of year $50,000,000

  • 25 · Other liabilities

    beginning of year $1,712,836,794 · end of year $1,729,376,012

  • 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 $151,432,591 · end of year $150,778,328

Mission and programs · 2024

Mission

TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS.

Activities or mission (Part I)

TO PROVIDE LOANS AND SAVINGS TO MEMBERS.

  • TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS. MEMBERSHIP IS RESTRICTED TO THOSE INDIVIDUALS RESIDING IN MONTANA COUNTIES OF FLATHEAD, LAKE, LINCOLN, SANDERS, BROADWATER, GALLATIN, LEWIS AND CLARK, MISSOULA AND RAVALLI, AND WITHIN A 50 MILE RADIUS OF WHITEFISH MONTANA.

As filed on the 2024 return.

Listed in Part VII

  • Frank Barnes

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Sue Brown

    BOARD VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Leo Tracy

    SECRETARY TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Lyle Phillips

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tom Cullen

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sharon Kahle

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Frank Garner

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jennifer D Archer

    SVP OF RETAIL & LOAN OPERATIONS

    Total calculated
    $201,317
    From this org
    $181,263
    From related orgs
    $0
    Other
    $20,054
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,760
    Bonus
    $21,458
    Other
    $10,045
    Deferred
    $4,638
    Nontaxable benefits
    $15,416
    Filer's total
    $201,317

  • Scott Bolster

    SVP AND CHIEF FINANCIAL OFFICER

    Total calculated
    $402,684
    From this org
    $328,867
    From related orgs
    $0
    Other
    $73,817
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,141
    Bonus
    $31,670
    Other
    $20,056
    Deferred
    $58,401
    Nontaxable benefits
    $15,416
    Filer's total
    $402,684

  • Cory J Coopman

    SVP OF IT AND PROJECT MANAGEMENT

    Total calculated
    $240,172
    From this org
    $209,421
    From related orgs
    $0
    Other
    $30,751
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,130
    Bonus
    $22,499
    Other
    $11,792
    Deferred
    $5,398
    Nontaxable benefits
    $25,353
    Filer's total
    $240,172

  • Stephen W Haugen

    SVP AND CHIEF INFORMATION OFFICER

    Total calculated
    $328,100
    From this org
    $246,648
    From related orgs
    $0
    Other
    $81,452
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,750
    Bonus
    $28,473
    Other
    $18,425
    Deferred
    $56,099
    Nontaxable benefits
    $25,353
    Filer's total
    $328,100

  • James Kenyon

    PRESIDENT AND CEO

    Total calculated
    $1,825,265
    From this org
    $1,276,177
    From related orgs
    $0
    Other
    $549,088
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $602,648
    Bonus
    $65,320
    Other
    $608,209
    Deferred
    $531,820
    Nontaxable benefits
    $17,268
    Filer's total
    $1,825,265

  • Cheryl Mintz

    SVP OF HUMAN RESOURCES

    Total calculated
    $219,902
    From this org
    $189,656
    From related orgs
    $0
    Other
    $30,246
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,282
    Bonus
    $21,801
    Other
    $10,573
    Deferred
    $4,893
    Nontaxable benefits
    $25,353
    Filer's total
    $219,902

  • Colleen M Murphy

    SVP AND CHIEF OPERATIONS OFFICER

    Total calculated
    $304,772
    From this org
    $233,461
    From related orgs
    $0
    Other
    $71,311
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,626
    Bonus
    $28,190
    Other
    $16,645
    Deferred
    $55,895
    Nontaxable benefits
    $15,416
    Filer's total
    $304,772

  • Matthew Venturini

    SVP OF LENDING

    Total calculated
    $231,359
    From this org
    $200,941
    From related orgs
    $0
    Other
    $30,418
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,008
    Bonus
    $27,037
    Other
    $10,896
    Deferred
    $5,065
    Nontaxable benefits
    $25,353
    Filer's total
    $231,359

  • Joshua S Wilson

    SVP OF MARKETING

    Total calculated
    $208,736
    From this org
    $178,784
    From related orgs
    $0
    Other
    $29,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,527
    Bonus
    $21,389
    Other
    $6,868
    Deferred
    $4,599
    Nontaxable benefits
    $25,353
    Filer's total
    $208,736

  • Molly Drollinger

    VP CONTROLLER

    Total calculated
    $157,078
    From this org
    $143,852
    From related orgs
    $0
    Other
    $13,226
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,004
    Bonus
    $7,525
    Other
    $7,323
    Deferred
    $3,977
    Nontaxable benefits
    $9,249
    Filer's total
    $157,078

  • Timothy Gaertner

    VP, MORTGAGE LOAN MANAGER

    Total calculated
    $174,043
    From this org
    $145,188
    From related orgs
    $0
    Other
    $28,855
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,963
    Bonus
    $25,198
    Other
    $6,027
    Deferred
    $3,502
    Nontaxable benefits
    $25,353
    Filer's total
    $174,043

  • Shannon Tobin

    COMMERCIAL LOAN MANAGER

    Total calculated
    $159,571
    From this org
    $146,132
    From related orgs
    $0
    Other
    $13,439
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,244
    Bonus
    $6,821
    Other
    $1,067
    Deferred
    $4,190
    Nontaxable benefits
    $9,249
    Filer's total
    $159,571

  • Kelly S St Onge

    VP COMMERCIAL CREDIT OFFICER

    Total calculated
    $217,436
    From this org
    $194,807
    From related orgs
    $0
    Other
    $22,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,444
    Bonus
    $9,307
    Other
    $13,056
    Deferred
    $5,361
    Nontaxable benefits
    $17,268
    Filer's total
    $217,436

  • Barbara Strouse

    VP MORTGAGE LOAN MANAGER

    Total calculated
    $146,967
    From this org
    $143,582
    From related orgs
    $0
    Other
    $3,385
    Hours/week
    40

  • Michael T Blubaugh

    INV. OFFICER (FORMER CFO)

    Total calculated
    $142,726
    From this org
    $121,710
    From related orgs
    $0
    Other
    $21,016
    Hours/week
    25

    Schedule J breakdown matched by us

    Base
    $105,049
    Bonus
    $0
    Other
    $16,661
    Deferred
    $3,748
    Nontaxable benefits
    $17,268
    Filer's total
    $142,726

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 · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 CREDIT UNION PURCHASES SKI AND GOLF PASSES FOR EXECUTIVES, JAMES KENYON, SCOTT BOLSTER AND STEVE HAUGEN, AS WELL AS SOME SPOUSE TRAVEL TO NATIONAL CONFERENCES. THESE ARE A TAXABLE FRINGE BENEFIT TO THE RECIPIENT. THE ORGANIZATION ALSO COMPUTES GROSS-UP PAYMENTS RELATED TO THESE TAXABLE FRINGE BENEFITS.
PART I, LINE 4B
PRESIDENT AND CEO: $521,470 ACCRUAL AND $544,390 PAYOUT FROM THE 457F PLAN SVP AND CHIEF FINANCIAL OFFICER: $50,000 ACCRUAL OF 457(F) PLAN SVP AND CHIEF INFORMATION OFFICER: $50,000 ACCRUAL OF 457(F) PLAN SVP AND CHIEF OPERATING OFFICER: $50,000 ACCRUAL OF 457(F) 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

Provenance

Return type
form_990
Tax year
2024
Filed
31 October 2025
IRS schema version
2024v5.2
Source object
202543089349303314

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