2023-11-14T15:59:37-06:00 2022-12-31 910189318 MOSS ADAMS LLP 2707 COLBY AVENUE SUITE 801 EVERETT WA 98201 990 2022-01-01 910403380 COMMUNITY 1ST CREDIT UNION COMM 2537225212 PO BOX 870 DUPONT WA 98327 DANIEL M LEFREE PRESIDENT AND CEO 2537225212 2023-11-14 1 DANIEL LEFREE 999009999 0 COLLEEN RAMIRES P01251320 4252597227 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DANIEL M LEFREE PO BOX 870 DUPONT WA 98327 10270112 0 X WWW.MYC1CU.COM X 1934 WA HELPING ENSURE A MORE PROSPEROUS FINANCIAL FUTURE FOR OUR MEMBERS. 8 8 61 14 7398 0 0 0 8671931 9402455 234293 811891 71727 55766 8977951 10270112 2950 500 0 0 3806189 4294226 0 0 0 4108511 5187428 7917650 9482154 1060301 787958 215109348 223097117 194930109 202129920 20179239 20967197 TO ESTABLISH AND MAINTAIN THE TRUST OF OUR MEMBERS, WHILE CONTINUALLY EARNING OUR PLACE AS THEIR PREFERRED FINANCIAL INSTITUTION. 0 0 MUTUAL, MEMBERSHIP BENEFITS PROGRAMS, GENERAL/OTHER: PROVIDED ITS 14,796 MEMBERS THE OPPORTUNITY FOR SAVINGS, DEPOSIT, LOANS AND OTHER FINANCIAL SERVICES DURING 2022. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2066 0 1 61 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 X DANIEL M LEFREE 2537225212 955 ROSS LOOP SUITE 100 DUPONT WA 98327 FRANK WORDEN BOARD CHAIRPERSON 3.00 X 0 0 0 MARK BORGAARD BOARD VICE CHAIRPERSON 2.50 X 0 0 0 JANICE PARENT BOARD SECRETARY 2.50 X 0 0 0 ELAINE TIERNEY BOARD MEMBER 2.50 X 0 0 0 LARRY WILLIAMS BOARD MEMBER 2.50 X 0 0 0 STEVEN BATES BOARD MEMBER 2.50 X 0 0 0 ALAN WALKER BOARD MEMBER 2.50 X 0 0 0 SHARON CHAVEZ BOARD MEMBER 2.50 X 0 0 0 GRAEME SACKRISON BOARD MEMBER (THRU 10/22) 2.50 X 0 0 0 JIM REID BOARD MEMBER (THRU 2/22) 2.50 X 0 0 0 ANNE KUSH BOARD MEMBER (THRU 1/22) 2.50 X 0 0 0 DANIEL LEFREE PRESIDENT/CEO 50.00 X 164310 0 32479 NICOLE LOUGHEED EXECUTIVE VICE PRESIDENT/CFO 50.00 X 108194 0 10490 WILLIAM PAULEN PRESIDENT / CEO (THRU 10/22) 50.00 X 278876 0 32187 DARCY VANDER VOET VICE PRESIDENT OF OPERATIONS 50.00 X 100714 0 18128 MICHAEL BAGWELL VICE PRESIDENT OF TECHNOLOGY 50.00 X 101540 0 18173 753634 0 111457 5 0 1 0 0 INTEREST ON LOANS 522291 7919174 7919174 FEES & CHARGES 522100 805602 798204 7398 INTERCHANGE INCOME 522210 560764 560764 GAIN ON SALE OF MORTGAGE LOAN 522291 4689 4689 112226 112226 9402455 688279 688279 55766 0 55766 55766 55766 123612 0 123612 123612 123612 10270112 9282831 7398 979883 500 626536 2640981 187104 582640 256965 45017 36000 35838 12880 940690 1390384 256141 80282 9419 937814 334585 27394 LOAN SERVICING FEES 368927 BAD DEBT EXPENSE 160000 ASSOCIATION DUES 57058 494999 9482154 1192215 1225101 2158613 2261025 78236 20345 135356270 166566260 574676 503183 14986990 3701020 10557565 11285970 62587027 39165770 4000 4000 501298 419475 2099448 1645988 215109348 223097117 5449688 5491947 7917 13722 189472504 196624251 194930109 202129920 X 0 0 0 0 20179239 20967197 20179239 20967197 215109348 223097117 787958 0 X 0 0 0 1455 0 1455 1455 1 CREDIT UNION LEGISLATIVE ACTION FUND 18000 INTERNATIONAL BLVD SUITE 350 SEATAC WA 98188 910460483 1455 PART I-A, LINE 1: THE CREDIT UNIONS ONLY INDIRECT POLITICAL CAMPAIGN ACTIVITY IS A CONTRIBUTION TO THE CREDIT UNION LEGISLATIVE ACTION COMMITTEE. 4253027 4253027 6300430 1511025 4789405 415890 99982 315908 4017643 2090013 1927630 11285970 MEMBER SHARES AND DEPOSITS 196624251 196624251 X X X 1 0 0 WILLIAM PAULEN PRESIDENT / CEO (THRU 10/22) 201674 0 0 0 77202 0 20209 0 11978 0 311063 0 0 0 DANIEL LEFREE PRESIDENT/CEO 156977 0 500 0 6833 0 14408 0 18071 0 196789 0 0 0 PART I, LINE 4A UPON SEPARATION FROM SERVICE IN 2022, FORMER PRESIDENT AND CEO BILL PAULEN RECEIVED $65,000 IN EXCHANGE FOR A NONDISCLOSURE OF PROPRIETARY INFORMATION AGREEMENT. FORM 990, PART I, LINE 6 VOLUNTEERS SERVE ON THE CREDIT UNION'S SUPERVISORY COMMITTEE. THE SUPERVISORY COMMITTEE REVIEWS VARIOUS OPERATIONS OF THE CREDIT UNION TO ENSURE COMPLIANCE WITH THE CREDIT UNION'S POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS 14,796 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERS ELECT ALL MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ENTITY HAS MEMBERS WHO HAVE RIGHTS TO RATIFY DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CEO, DIRECTOR OF FINANCE AND THE BOARD OF DIRECTORS. THE FORM IS APPROVED BY THE CEO. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS, OFFICERS AND COMMITTEE MEMBERS ARE REQUIRED TO SIGN AN OATH OF OFFICE ANNUALLY WHICH INCORPORATES A CONFLICT OF INTEREST STATEMENT. IF A CONFLICT OF INTEREST ARISES THE CREDIT UNION WILL CONSULT WITH LEGAL COUNSEL REGARDING POTENTIAL CONFLICTS OF INTEREST, AND WILL DISENGAGE FROM TRANSACTIONS OR ARRANGEMENTS THAT ARE DETERMINED TO BE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 AT LEAST ANNUALLY THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS AND APPROVES THE CEO'S COMPENSATION. CEO SETS OFFICER SALARIES BASED ON INDUSTRY SURVEY AND PEER COMPARISON. COMPENSATION IS MEASURED AGAINST INDUSTRY METRICS, SUCH AS THOSE PUBLISHED BY CUES AND CALLAHAN, AS WELL AS LOCAL METRICS GATHERED BY THE CREDIT UNION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AT THEIR ANNUAL MEETING.