2023-07-21T09:31:40-07:00 2022-12-31 261220728 DAREN B TANNER PC 1915 NE STUCKI AVE STE 290 Beaverton OR 97006 990 2022-01-01 910729043 SNOCOPE CREDIT UNION SNOC 4254059973 3130 ROCKEFELLER AVE EVERETT WA 98201 STEVEN ELLIS President & CEO 2023-07-21 true STEVEN ELLIS 999009999 true Daren Tanner P00234257 5033523255 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z STEVEN ELLIS 3130 ROCKEFELLER AVE EVERETT WA 98201 3124105 false X SNOCOPE.COM X 1959 WA BUILDING LIFELONG FINANCIAL SUCCESS, ONE MEMBER AT A TIME. 7 7 15 12 9317 0 2265627 2569829 270645 421568 201761 132708 2738033 3124105 0 0 1198304 1143027 0 0 1237299 1739287 2435603 2882314 302430 241791 80800121 82623983 74663881 77234886 6136240 5389097 BUILDING LIFELONG FINANCIAL SUCCESS, ONE MEMBER AT A TIME. false false 2882314 3124105 PROVIDING DEPOSITORY AND LENDING SERVICES TO OUR FIELD OF MEMBERSHIP. DURING 2022 THE CREDIT UNION GRANTED 928 LOANS TOTALING $22,814,142 TO MEMBERS OF THE CREDIT UNION. AT THE END OF 2022, THE CREDIT UNION HAD 6,407 MEMBERS. 2882314 false false false false false false false false false true true false false true false false false false false false false false false false false false false false true false true false false false false false false false false false false false false true 727 0 true 15 true true true false false false false false false false X 7 7 false false false false true true true true true false false false true true true true true true true false X STEVEN ELLIS 4254059973 3130 ROCKEFELLER AVE EVERETT WA 98201 STEVEN ELLIS President & CEO 40.00 0.00 X 146592 0 22151 CHAD SEABURY VP OPERATIONS 40.00 0.00 X 104743 0 12085 DUSTIN RHODE VP LENDING 40.00 0.00 X 98004 0 18022 STEVE TORRENCE Treasurer 1.00 0.00 X 0 0 0 DANIEL THOMPSON Director 1.00 0.00 X 0 0 0 NOELLE MORGENSTERN VICE CHAIR 1.00 0.00 X 0 0 0 JOHN BILEN Director 1.00 0.00 X 0 0 0 SHEILA POSTLE BOARD CHAIR 1.00 0.00 X 0 0 0 PETER RUDOLF Secretary 1.00 0.00 X 0 0 0 JEFF CRAIG Director 1.00 0.00 X 0 0 0 349339 52258 2 false true false 0 0 FEES AND CHARGES 522100 202517 202517 INTERCHANGE FEES 522200 260903 260903 LOAN INTEREST 522291 2106409 2106409 2569829 419237 419237 0 0 0 2331 2331 2331 2331 0 0 0 AD&D AND LIFE INS INCOME 524298 7397 7397 ATM FOREIGN USER FEES 522100 1920 1920 OTHER OPERATING REVENUE 522100 123391 123391 132708 3124105 3114788 9317 0 0 0 0 401597 0 554345 33688 80074 73323 0 0 0 0 0 0 145800 48955 268545 123889 0 66498 23054 0 0 76618 0 34155 22851 LOAN SERVICING 453019 PROVISION FOR LOAN LOSSES 180930 INTERCHANGE EXPENSE 103035 CREDIT CARD PROGRAM 95768 96170 2882314 0 0 0 456628 324471 5726854 4887983 0 0 1859207 1895480 0 36292142 49908907 0 208315 238557 805730 429023 417623 376707 4848555 5099635 30179000 18975346 661611 712708 0 150186 204189 80800121 82623983 509970 448677 74153911 76786209 74663881 77234886 X 6136240 5389097 6136240 5389097 80800121 82623983 241791 -988934 X false false false 130000 130000 327170 224231 102939 36209 36208 1 312351 168584 143767 376707 18975346 MEMBER SHARES AND DEPOSITS 76786209 76786209 X X false true false STEVEN ELLIS President & CEO 146592 13302 8849 168743 Part III, Additional Information SCHEDULE J PART I LINE 4BSELECT EXECUTIVES AGREED TO PARTICIPATE IN CAP-EX IN PLACE OF ATRADITIONAL SERP. SEE SCHEDULE L, PART V FOR BROADER DESCRIPTION STEVEN ELLIS PRESIDENT SPLIT DOLLA X 1895480 false true true 1895480 Schedule L, Part V Supplemental Information SCHEDULE L. PART II, LOANS TO AND FROM INTERESTED PERSONS:(A) NAME OF PERSON: STEVEN ELLIS(B) RELATIONSHIP WITH ORGANIZATION: PRESIDENT/CEO(C) PURPOSE OF LOAN: SPLIT DOLLAR LIFESCHEDULE L, PART II LOANS TO AND FROM INTERESTED PERSONS:THE EO PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT, WHICH THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE IRS REQUIRES REPORTING IN THE LOAN SECTION OF SCHEDULE L, CASD IS NOT AN ACTUAL LOAN IN THAT NO FUNDS ARE ACTUALLY TRANSFERRED TO THE EXECUTIVE, THE "LOAN" TREATMENT APPLIES BECAUSE AFTER THE EXECUTIVE HAS RECEIVED RETIREMENT BENEFITS, THE EO RECOVERS ALL OF ITS OUTLAYS PLUS INTEREST.THE RECOVERY RIGHT IS THE KEY ADVANTAGE OF CASD FOR THE EO. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER CASD THE EO RECOVERS NOT ONLY ITS OUTLAYS, BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY.CASD WORKS AS FOLLOWS: THE EO DEPOSITS FUNDS INTO A CASH VALUE LIFE INSURANCE INSURANCE POLICY ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST THE POLICY VALUE TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE EO'S RECOVERY RIGHTS.AT THE EXECUTIVE'S DEATH, THE POLICY DEATH PROCEEDS ARE FIRST USED TO REPAY THE EO ITS DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY THEN RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. ANY REMAINING DEATH PROCEEDS:-ARE AVAILABLE TO BE PAID TO THE EXECUTIVE'S BENEFICIARY-ARE DIVIDED BETWEEN THE EO AND THE EXECUTIVE'S BENEFICIARY-WERE AVAILABLE TO BE PAID TO THE EXECUTIVE'S BENEFICIARY. HOWEVER, THE EXECUTIVE DECIDED TO MAKE A GIFT OF THE EXCESS PROCEEDS TO THE EO TO PROVIDE ADDITIONAL FUNDING FOR THE EO'S CHARITABLE ACTIVITIES. Form 990, Part VI, Section A, Line 6 THE CREDIT UNION SERVES MEMBERS WHO LIVE, WORK, ATTEND SCHOOL, OR WORSHIP IN WASHINGTON STATE. THE CREDIT UNION HAS 6,407 MEMBERS. Form 990, Part VI, Section A, Line 7a MEMBERS ELECT DIRECTORS AT THE ANNUAL MEETING. Form 990, Part VI, Section A, Line 7b CHANGES TO THE STATE CHARTER AND OTHER GOVERNING DOCUMENTS ARE APPROVED BY THE MEMBERS. Form 990, Part VI, Section B, Line 11b FORM 990 IS REVIEWED BY THE VP OF OPERATIONS AND THE PRESIDENT/CEO. Form 990, Part VI, Section B, Line 12c ALL DIRECTORS, OFFICERS, AND EMPLOYEES ARE REQUIRED TO ANNUALLY UPDATE A CONFLICT OF INTEREST QUESTIONNAIRE. Form 990, Part VI, Section B, Line 15a THE COMPENSATION COMMITTEE REVIEWS SALARY SURVEYS OBTAINED FROM CUNA AND OTHER SOURCES AND SUBMITS ITS RECOMMENDATION TO THE BOARD FOR CEO SALARY AND BONUS ANNUALLY. Form 990, Part VI, Section B, Line 15b ANNUAL COMPENSATION SALARY SURVEYS ARE REVIEWED BY THE CEO TO DETERMINE SALARIES FOR OTHER CREDIT UNION OFFICERS. Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART I, LINE 6 VOLUNTEERS CONSIST OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE MEMBERS. THE CREDIT UNION'S SUPERVISORY COMMITTEE ASSISTS THE BOARD OF DIRECTORS IN ITS OVERSIGHT RESPONSIBILITIES INCLUDING, BUT NOT LIMITED TO:-THE INTEGRITY OF THE CREDIT UNION'S FINANCIAL STATEMENTS-THE QUALIFICATIONS AND INDEPENDENCE OF THE INTERNAL AUDIT FUNCTION-THE PERFORMANCE OF THE CREDIT UNION'S INDEPENDENT AUDIT FUNCTION-SUPERVISION OF ANY INDEPENDENT AUDITORS.