2023-08-25T13:04:28-07:00 2022-12-31 990 2022-01-01 910419495 CREDIT UNIONS IN THE STATE OF WASHINGTON CRED 5095350191 2919 E Mission Spokane WA 992023691 Tim Throckmorton Finance Director 5096222020 2023-08-17 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Progressions Credit Union Susan Vuong 2919 E Mission Ave Spokane WA 99202 3490548 0 1269 X www.progressionscu.org X 1933 WA The organization is a Credit Union operated without profit for mutual purposes. 7 7 19 9 15127 15127 0 0 2922943 2944089 57623 116795 616177 416201 3596743 3477085 0 0 0 0 1223309 1338515 0 0 0 1501037 1696844 2724346 3035359 872397 441726 85083361 83344024 77954452 75773389 7128909 7570635 To assist the Credit Union's members in banking, lending and other financial needs. 0 0 3035359 0 3477085 As of 12/31/22 Progressions Credit Union (PCU) had 5,537 members that owned a total of 11,070 share/deposit accounts. In addition, PCU had $66,359,685 in loans to 1,947 members. In 2021 PCU granted 1,665 new loans with an initial value of $37,188,882 0 0 0 3035359 0 0 0 0 0 0 0 1 0 1 1 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 X 714 0 1 19 1 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 0 0 X Tim Throckmorton 5096222020 2919 E Mission Spokane WA 992023691 Susan Vuong President/CEO 40 0 X 164035 0 0 Kevin Spoerl SVP CLO 40 0 X 109881 0 0 Timothy A Throckmorton SVP CFO 40 0 X 107198 0 0 Kathy Brooks Director 2 0 X 0 0 0 Cheri Moore Director/Secretary 2 0 X 0 0 0 Jeffry D Martin Director 2 0 X 0 0 0 William F O'Halloran Director 2 0 X 0 0 0 Doug Sprecher Director, Chairman of the Board 2 0 X 0 0 0 Dan Brown Director 2 0 X 0 0 0 Jinger Dittmer Director, Vice Chairwoman 2 0 X 0 0 0 381114 0 0 3 0 1 0 0 0 Loan interest 522130 2648461 2648461 0 0 Fee income 522130 295628 295628 0 0 0 0 0 0 2944089 116795 0 0 116795 0 0 0 0 0 0 0 0 28590 0 13463 0 15127 0 15127 0 15127 0 0 0 Other/misc 900099 401074 401074 0 0 0 0 0 0 401074 3477085 3345163 15127 116795 0 0 0 0 451281 0 684719 47727 87221 67567 4300 11147 14442 0 0 20180 110343 75692 115599 213367 0 120212 6913 0 3256 177974 0 140532 63603 Provision for loan loss 68712 VISA fees and charges 353799 Operations 37709 159064 3035359 0 0 0 546217 466645 14081289 2876653 0 0 13668 15722 0 0 0 0 53223409 65985547 0 0 594849 759836 7239366 4391367 1463204 2847999 0 0 14154417 9333052 0 0 0 0 1006308 1058570 85083361 83344024 244900 281308 0 0 0 0 0 0 28388 40237 0 0 0 0 0 0 77681164 75451844 77954452 75773389 X 0 0 0 0 7128909 7570635 7128909 7570635 85083361 83344024 441726 0 0 0 0 0 X 0 0 0 0 1 X 1325809 0 1325809 2525183 0 1471515 1053668 0 0 0 0 3388374 0 2919852 468522 0 0 0 0 2847999 0 0 Mortgagebacked/CMO 475283 C CDs 2999000 C US Treasuries 1501554 C Bonds 4253080 C CIF shares CD 100000 C Investment in service organization 4135 C 9333052 0 Member deposit account 75451844 75451844 Schedule D, Part IV, Line 2b The Credit Union has mortgage loan escrow accounts where the borrower deposits funds that the Credit Union then uses to pay their property taxes, homeowners insurance, and other similar items. X 0 0 0 Susan Vuong President/CEO 148523 0 15512 0 0 0 27000 0 10047 0 201082 0 0 0 Schedule J, Part I, Line 3 CEO compensation is reviewed and approved annually by the Board. Form 990, Part V, Line 3b The Credit Union's UBI relates to the rental of office space in a building that was not financed by debt. Rents are for space only and do not include real property Form 990, Part VI, Section A, Line 6 The Credit Union is owned by it's members. Form 990, Part VI, Section A, Line 7a The members of the Credit Union elect the Board Members and the members of the Supervisory Committee. Form 990, Part VI, Section A, Line 7b Changes in by-laws must be approved by the membership. Form 990, Part VI, Section B, Line 11b The 990 is presented to the Board at a meeting prior to it's filing. Form 990, Part VI, Section B, Line 12c Officers, Directors and employees annually receive a copy of the policy and return a signed acknowledgement of receipt and understanding. Form 990, Part VI, Section B, Line 15 Annually the Board reviews and approve salary scales provided to them by management. These scales include wages for senior management and the CEO, plus any other compensation for them. Updates to the scales are based upon an annual review of local market wages and benefits for similar positions. Approval of the scales is documented in board meeting minutes. Form 990, Part VI, Section C, Line 19 Governing documents, financial statements and tax returns are available upon written request.