2023-05-02T18:22:36-07:00 2022-12-31 990 2022-01-01 910587877 INDUSTRIAL CREDIT UNION OF WHATCOM COUNTY INDU 3607342043 PO Box 1767 BELLINGHAM WA 98227 Richard Holcomb VP of Finance 3607342043 2023-03-31 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Brandon Hahnel 1100 North State Street Bellingham WA 98225 27670259 0 X WWW.INDUSTRIALCU.ORG X NOT FOR PROFIT 1941 WA Providing financial services to 39,671 members mostly residing in Whatcom County in the State of Washington. 7 7 145 8 0 0 0 1370000 17251425 20525892 428470 1085877 980000 6000 18659895 22987769 0 0 0 0 7969759 8523714 0 0 0 7296420 12453374 15266179 20977088 3393716 2010681 379220353 400566413 351501552 372677484 27718801 27888929 Providing financial services to 39,671 member which includes but is not limited to loans and savings programs. These services are provided by 9 volunteers and 111 full and part time employees. 0 0 20977090 22987769 Providing financial services to 39,671 members which includes but is not limited to loans and savings programs. These services are provided by 9 volunteers and 111 full and part time employees. 0 0 0 20977090 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 41 0 1 145 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 WA X Industrial Credit Union of Whatcom County 3607342043 3233 Northwest Ave Bellingham WA 98225 Brandon Hahnel President/CEO 45 0 X X X 369619 0 0 Richard Holcomb VP/Finance 40 0 X X 145172 0 0 BJ Van Leeuwen VP/Lending 40 0 X X 139562 0 0 Vickie Skelton VP/Operations 45 0 X X 135208 0 0 Dean Lewis Director Real Estate 40 0 X 133533 0 0 Denise Pethick Director Human Resources 40 0 X 115803 0 0 Andy Thom Director/IT 45 0 X 112123 0 0 Dain Stevens VP/Digital Services 40 0 X 111606 0 0 Kessa Volland Director of Marketing 40 0 X 102215 0 0 Melissa Muhich Board of Director 1 0 X 2300 0 0 Bonnie Drafs Supervisory Committee 1 0 X 2100 0 0 Dennis McGrew Board of Director 1 0 X 1900 0 0 Nikole Knauft Board of Director 1 X 1900 0 0 Michael Ashby Board Vice Chair 1 0 X 1900 0 0 Stan Godek Board of Director 1 0 X 1900 0 0 Harold Henkel Board of Director 1 0 X 1900 0 0 Areti Moulares Supervisory Committee Chair 1 0 X 1400 0 0 Rick Maricle Board Chair 2 1 X 0 0 0 1380141 0 0 9 0 1 0 0 0 0 0 1370000 0 0 1370000 Interest on Loans 522130 14350774 14350774 0 0 Revenue Paid by Members for Services 522130 6175118 6175118 0 0 0 0 0 0 20525892 593042 593042 0 0 707913 707913 0 0 0 0 0 0 6000 0 0 0 6000 0 6000 6000 0 0 0 4467412 0 4682490 0 -215078 -215078 -215078 0 0 0 0 0 0 0 0 22987769 21617769 0 0 0 0 0 0 1413430 0 5239733 358790 945829 565932 0 39094 134431 0 0 0 262657 267880 802541 2669547 0 620411 77236 0 55703 763724 0 565938 82628 Provision for Loan Loss 5092393 Loan Servicing Expenses 523361 Member Statements 69740 Other Operating 426090 20977088 0 0 0 3727018 2885498 99207626 19537539 355624 205876 227908257 317735278 3313195 843151 14955199 8387067 6112813 6568132 258806 249579 37260216 49853828 1076798 2687532 379220353 400566413 4784629 4865756 0 0 0 0 0 0 0 0 0 0 21000000 346716923 346811728 351501552 372677484 X 0 0 0 0 27718801 27888929 27718801 27888929 379220353 400566413 2010681 -1840553 0 0 0 0 X 1 X 1 X 1 1 1 1885957 0 1885957 6057469 0 3016439 3041030 579100 0 574611 4489 6432673 0 4796017 1636656 0 0 0 0 6568132 Mortgage / Agency Securities 44464190 F Non-Publicaly Owned Stock 1698938 C NCUSIF Share Insurance Fund 3345367 C Credit Union Membership Capital 345333 C 49853828 0 Dividends Payable to Members 5829 Member Deposits 346805899 346811728 22987769 0 0 0 0 0 22987769 0 0 0 22987769 20977088 0 0 0 0 0 20977088 0 0 0 20977088 X X 0 0 0 Brandon Hahnel President/CEO 257060 0 36397 0 75881 0 100116 0 0 0 469454 0 69881 0 Richard Holcomb VP/Finance 145172 0 0 0 0 0 13473 0 0 0 158645 0 0 0 BJ Van Leeuwen VP/Lending 139562 0 0 0 0 0 8374 0 0 0 147936 0 0 0 Vickie Skelton VP/Operations 135208 0 0 0 0 0 8076 0 0 0 143284 0 0 0 Dean Lewis Director Real Estate 133533 0 0 0 0 0 2776 0 0 0 136309 0 0 0 Denise Pethick Director Human Resources 115803 0 0 0 0 0 6921 0 0 0 122724 0 0 0 Andy Thom Director/IT 112123 0 0 0 0 0 6286 0 0 0 118409 0 0 0 Dain Stevens VP/Digital Services 111606 0 0 0 0 0 6674 0 0 0 118280 0 0 0 Kessa Volland Director of Marketing 102215 0 0 0 0 0 6111 0 0 0 108326 0 0 0 Schedule J, Part II President/CEO and VP/Finance have 457B plans. The CEO's plan has a $19,000 yearly contribution while the VP/Finance has a $4,800 yearly contribution. All other deferred contributions in section C are 401k match contributions made by the credit union. Part b, line iii shows CEO other reportable compensation at $76,108 which is a 457f payout to the President/CEO in 2023. This will be part of the w-2 salary when reported in 2023. Form 990, Part VI, Section A, Line 6 By opening an account at the credit union, you are considered a member. As a member, you are considered part owner of the cooperative. You are allowed to vote for the member elected board of directors. You also have the opportunity to run for a board of director position. Form 990, Part VI, Section A, Line 7a Each year, there are generally 2 or 3 board of director positions open for election. The members who attend the credit union's annual meeting have the opportunity to cast 1 vote per member for those members who want to be on the board of directors. Form 990, Part VI, Section A, Line 7b If the credit union merged into another credit union (or the other credit union merged into Industrial), the vote to merge would be brought to both credit union's membership to vote. Form 990, Part VI, Section B, Line 11b Once the 990 draft is complete, the VP/Finance or designee will provide a full copy of the 990 report to the CEO for approval. Any questions or comments are discussed and if changes need to be made, they are. The VP/Finance will file and retain the 990 report. Form 990, Part VI, Section B, Line 12c There is a member elected supervisory committee that acts as the credit union's watchdog. The supervisory committee has an internal auditor on staff that reviews specific areas of credit union operation. This committee is also responsible for hiring all external auditing firms to conduct audits, including operational, financial and personnel. Form 990, Part VI, Section B, Line 15 The credit union contracts with an outside agency that specializes in credit union compensation at all levels in the organization. This ensures the credit union's established current salary ranges are equitable to the job's skill and knowledge requirements. Form 990, Part VI, Section C, Line 19 Financial statements are provided to the attending membership at the annual meeting. Quarterly financial statements are provided through the ncua.gov website. Industrial Credit Union Services Inc PO Box 1767 Bellingham WA 98227 911263538 Auto & Home Insurance WA Industrial Credit Union of Whatcom County Industrial Credit Union Services Inc PO Box 1767 Bellingham WA 98227 911263538 Currently Inactive WA Industrial Credit Union of Whatcom County C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0