2023-10-31T10:55:22-07:00 2022-12-31 990 2022-01-01 910565128 SPOKANE TEACHERS CREDIT UNION SPOK 5093261954 1620 N Signal Drive Liberty Lake WA 99019 Lindsey Myhre CFO 5093261954 2023-10-31 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z Lindsey Myhre 1620 N Signal Dr Liberty Lake WA 99019 1137211933 0 1269 X www.stcu.org X Credit Union 1934 WA STCU is committed to maximizing the value of every financial relationship through cost-effective financial services consistent with cooperative principles, applicable legislation, and prudent management. STCU serves 266,333 members as of 12/31/22. 9 9 1123 5 394458 394458 73273 59890 188803398 222074185 15847325 15560623 176452 319517 204900448 238014215 0 0 15721075 13630771 74627010 81001805 0 0 0 55450409 84361812 145798494 178994388 59101954 59019827 4949789010 5625825339 4497927463 5183529011 451861547 442296328 STCU is committed to maximizing the value of every financial relationship through cost-effective financial services consistent with cooperative principles, applicable legislation, and prudent management. STCU serves 266,333 members as of 12/31/22. 0 0 STCU has outstanding loans of $4,637,749,106 at December 31, 2022, representing 188,697 individual loans. STCU offers credit cards; auto, RV, and boat loans; 1st mortgage real estate loans, other real estate loans and lines of credit; and commercial loans. Revenues from loan activities include interest income earned, as well as loan origination and servicing fees. STCU provides share and deposit products, including checking, savings, money market, certificates, and IRA/Keogh accounts. At December 31, 2022, STCU had total share and deposit balances of $4,591,171,520 representing 410,237 individual accounts. STCU paid members dividends on their share and deposit accounts $13,775,904 in 2022. STCU earns various fees on transactions, balances or other financial products as outlined in the membership agreement or published fee schedules. 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 261372 0 1 1123 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X Spokane Teachers Credit Union 5093261954 1620 N Signal Drive Liberty Lake WA 99019 Ezra Eckhardt President and CEO 40 0 X 1129836 0 226900 Lindsey Myhre EVP & CFO 40 0 X 519196 0 101244 Patricia Baughman CDO 40 0 X 360491 0 84052 David Flood CLO 40 0 X 356216 0 80982 Scott Rabe Vice President 40 0 X 294178 0 88847 Patricia Kelly Senior Vice President 40 0 X 300588 0 72946 Marty Dickinson CMO 40 0 X 284665 0 77248 Ronda Mitchell Commercial Loan Officer 40 0 X 256051 0 83275 Joseph Yetter Senior Vice President 40 0 X 270233 0 64548 Brian Scott Vice President 40 0 X 255455 0 63499 Christopher Severin Vice President 40 0 X 252346 0 61432 Christie Moore Commerical Manager 40 0 X 229977 0 73607 Richard Lentz Vice President 40 0 X 236607 0 59289 William Lusk Financial Advisor 40 0 X 248979 0 45103 Robyn Galtieri Vice President 40 0 X 231553 0 52091 Melanie Shanks Chief Internal Auditor 40 0 X 223718 0 50684 Trina Murphy Home Loan Officer 40 0 X 224379 0 46092 Chris Morlan Chairman 2 0 X 24525 0 0 Richard W Stanley Director 2 0 X 16351 0 0 Adriane L Hanley Director 2 0 X 16351 0 0 Steven Jones Director 2 0 X 16351 0 0 Dennis Michael Rennaker Director 2 0 X 16351 0 0 Dolores Humiston Director 2 0 X 16351 0 0 Catherine Brazil Director 2 0 X 16351 0 0 Jeffrey Perkins Vice Chair 2 0 X 16351 0 0 Justin Botejue Director 2 0 X 16351 0 0 Brian Read CRO 40 0 X 15441 0 0 Kathryn Dobson Audit Chairwoman 2 0 X 14644 0 0 Kevin Spohr Supervisory Com 2 0 X 9763 0 0 Janet McCann Supervisory Com 2 0 X 9763 0 0 5879412 0 1331839 136 0 1 0 Smart Source Critial Communications LLC 26001 Pala Mission Viejo CA 92691 Printing and Mailing 2414912 Dee's Landscaping & Lawn Service LLC 11414 W Newkirk Rd Spokane WA 99224 Landscaping Services 318902 Paine Hamblen LLP 717 W Sprague Ave Suite 1200 Spokane WA 99201 Legal and Collection Services 165853 3 0 59890 0 0 0 0 0 59890 Loan Interest Income 522100 180599401 180599401 0 0 Fees and Service Charges 522100 37931757 37537299 394458 0 Loan Svc and Origination 522100 3543027 3543027 0 0 0 0 0 0 222074185 14163708 14163708 0 0 0 0 0 0 0 0 0 0 743771 0 424254 0 319517 0 319517 319517 0 0 0 900170379 0 898773464 0 1396915 1396915 1396915 0 0 0 0 238014215 237559867 394458 0 0 0 0 13630771 5542160 0 54703759 4151342 11496717 5107827 0 84043 271936 0 0 0 3983811 7243338 2532385 7891540 0 5888010 0 0 1333315 10786432 0 6185963 0 Processing Expense 14670304 Provision for Loan Loss 17030547 Loan Servicing Expense 3561679 Postage and Shipping 1579124 1319385 178994388 0 0 0 25504678 29795027 419042555 212720335 0 0 1276154 53747127 16236792 16236792 0 0 3795677833 4616935385 0 0 10367205 18944668 151205785 62339654 82552298 88866131 507307568 454761342 11496200 26654200 0 0 6784748 14294875 73542979 92869457 4949789010 5625825339 45499210 55729685 0 0 1038471 791637 0 0 6769617 6582603 0 0 126557776 529253565 0 0 4318062389 4591171521 4497927463 5183529011 X 0 0 0 0 451861547 442296328 451861547 442296328 4949789010 5625825339 X 59019827 -228687 0 0 0 -68356359 X 1 X 1 X 1 0 69370 0 69370 0 69370 1 Northwest Credit Union Assoc 18000 Intl Blvd STE 350 Sea Tac WA 98188 910460483 59870 0 Committee to Elect Mike Volz PO Box 10163 Spokane WA 99209 813891241 1000 0 COMMITTEE TO ELECT SKYLAR RUDE PO BOX 502 Walla Walla WA 99362 812502739 1000 0 Committee to Elect Jaquelin Maycumber 127 N Wynne St Colville WA 99114 538137781 1500 0 COMMITTEE TO ELECT MARY DYE 1325 BELL PLAIN ROAD Pomeroy WA 99347 474064112 500 0 COMMITTEE TO ELECT JOEL KRETZ 1014 TORODA CREEK RD WAUCONDDA WA 98859 721573462 500 0 COMMITTE TO ELECT TIMM ORMSBY PO BOX 2177 Spokane WA 99210 550876251 1500 0 FRIENDS TO ELECT MARCUS RICCELLI PO Box 1325 Spokane WA 99210 455222828 2000 0 SHELLY FOR STATE PO Box 37 Addy WA 99101 680674661 1000 0 JEFF HOLY FOR SENATE PO Box 40285 Spokane WA 99220 824751774 500 0 Schedule C, Part I-A, Line 1 STCU has a political action policy and may provide financial support on a non-partisan basis to individuals who support the credit union movement in Washington and Idaho State legislative offices, Washington and Idaho State elected executive positions, or Washington and Idaho State Supreme Court Justices. 0 0 0 19719286 19719286 0 69998509 20810080 49188429 0 3484073 1407949 2076124 0 54454794 38815396 15639398 0 3549123 1306229 2242894 88866131 0 Deposit Accounts - Money Market 1391423790 Deposit Accounts - Share Certificates 643880352 Deposit Accounts - Checking Accounts 1294177488 Deposit Accounts - Regular Share Accounts 1131435880 Deposit Accounts - IRA Shares 62339520 Deposit Accounts - IRA Certificates 67914491 4591171521 X 237361274 -228687 0 0 0 -228687 237589961 0 424254 424254 238014215 178570134 0 0 0 0 0 178570134 0 424254 424254 178994388 Schedule D, Part X, Line 2 The Credit Union is exempt under IRC 5019 (c) 14, from federal and state income taxes. Certain products and services provided by select state chartered credit unions have been determined by the Internal Revenue Service (IRS), in technical advice memorandums (TAMs) released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the TAMs the net taxable income from these have been successful in having courts declare in 2009 and 2010 that revenue from insurance and investment products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the IRS position in the TAMs. The Credit Union has filed tax returns for years 2006 through 2021 for activities deemed taxable. The Credit Union adopted the income tax standard for uncertain tax positions on January 1, 2009. As a result of implementation, the Credit Union evaluated its tax position and determined no uncertain tax positions exists as of December 31, 2022. Schedule D, Part XI, Line 4b Rental expense $424,254 Schedule D, Part XII, Line 4b Rental expense $424,254 X 1 1 X X X X X 0 0 0 Christopher Severin Vice President 199140 0 48349 0 4856 0 45927 0 15505 0 313777 0 0 27874 Brian Read CRO 15341 0 0 0 0 0 0 0 0 0 15341 0 0 0 David Flood CLO 284817 0 67154 0 4245 0 73275 0 7707 0 437198 0 0 38638 Lindsey Myhre EVP & CFO 419658 0 94951 0 4587 0 93537 0 101244 0 713977 0 0 52927 Joseph Yetter Senior Vice President 213488 0 51963 0 4782 0 48317 0 16231 0 334781 0 0 30018 Patricia Kelly Senior Vice President 239432 0 56163 0 4993 0 65239 0 72946 0 438773 0 0 32314 Ezra Eckhardt President and CEO 838288 0 278608 0 12940 0 219193 0 226900 0 1575929 0 0 152813 Patricia Baughman CDO 288195 0 67620 0 4675 0 74038 0 10015 0 444543 0 0 38595 Marty Dickinson CMO 225661 0 53752 0 5252 0 62943 0 77248 0 424856 0 0 30745 Brian Scott Vice President 203265 0 47911 0 4279 0 55792 0 7707 0 318954 0 0 27511 Robyn Galtieri Vice President 184410 0 42857 0 4286 0 50591 0 52091 0 334235 0 0 24335 Scott Rabe Vice President 209397 0 50249 0 34531 0 64018 0 24829 0 383024 0 0 28263 Richard Lentz Vice President 187825 0 44405 0 4377 0 51581 0 59289 0 347477 0 0 25549 William Lusk Financial Advisor 248153 0 0 0 826 0 25798 0 45103 0 319880 0 0 0 Ronda Mitchell Commercial Loan Officer 134132 0 121625 0 295 0 75567 0 83275 0 414894 0 0 0 Trina Murphy Home Loan Officer 220984 0 0 0 3395 0 23243 0 46092 0 293714 0 0 0 Christie Moore Commerical Manager 159718 0 68514 0 1745 0 64281 0 73607 0 367865 0 0 0 Melanie Shanks Chief Internal Auditor 189201 0 33476 0 1041 0 42977 0 50684 0 317379 0 0 0 Richard W Stanley Director 16351 0 0 0 0 0 0 0 0 0 16351 0 0 0 Adriane L Hanley Director 16351 0 0 0 0 0 0 0 0 0 16351 0 0 0 Steven Jones Director 16351 0 0 0 0 0 0 0 0 0 16351 0 0 0 Dennis Michael Rennaker Director 16351 0 0 0 0 0 0 0 0 0 16351 0 0 0 Dolores Humiston Director 16351 0 0 0 0 0 0 0 0 0 16351 0 0 0 Catherine Brazil Director 16351 0 0 0 0 0 0 0 0 0 16351 0 0 0 Chris Morlan Chairman 24525 0 0 0 0 0 0 0 0 0 24525 0 0 0 Kathryn Dobson Audit Chairwoman 14644 0 0 0 1090 0 0 0 0 0 15734 0 0 0 Kevin Spohr Supervisory Com 9763 0 0 0 122 0 0 0 0 0 9885 0 0 0 Janet McCann Supervisory Com 9763 0 0 0 265 0 0 0 0 0 10028 0 0 0 Jeffrey Perkins Vice Chair 16351 0 0 0 0 0 0 0 0 0 16351 0 0 0 Justin Botejue Director 16351 0 0 0 801 0 0 0 0 0 17152 0 0 0 Schedule J, Part I, Line 1a The Credit Union will reimburse board members for travel for companions to conferences. These reimbursements are treated as taxable events and included on the board member's year end tax forms Form 990, Part VI, Section A, Line 6 STCU is a state chartered credit union organized under the provisions of the Washington Credit Union Act. The membership base of STCU consists of people who live, work, worship, or attend school in the State of Washington or counties in Northern Idaho. STCU members elect the board of directors and the supervisory committee members. Form 990, Part VI, Section A, Line 7a STCU members elect directors and the supervisory committee. Each serves a three year term. The nine members of the board of directors set direction and policy for STCU and hire, evaluate and set compensation for the president of STCU. The supervisory committee consists of three members who are responsible for ensuring the completion of required audits and member account verification. Elections for both directors and supervisory committee member positions are held each March. Form 990, Part VI, Section B, Line 11b The form 990 is prepared by the Director of Accounting. It is reviewed by the Senior Vice President of Accounting and Finance, Chief Financial Officer/Executive Vice President, and by the Chief Executive Officer, the form 990 is reviewed with the board of directors prior to filing. Form 990, Part VI, Section B, Line 12c Members of the board of directors, supervisory committee and any affiliate members will be required to review the Code of Ethics and Personal Conduct Policy and sign the acknowledgement and agree on the Conflict of Interest Disclosure form on an annual basis. These will be reviewed by the board chair and vice chair. Any conflict of interest concerns will be reviewed by the board executive committee. In the event a conflict exists in the judgement of the board executive committee, the board chair or vice chair and the board member will take appropriate steps to eliminate the conflict. Members of the executive management are required to complete on an annual basis a Conflict of Interest Disclosure form. The chair and vice chair of the board of directors and the CEO are responsible to review the forms for any potential conflict of interest. In the event a conflict exists, the chair, vice chair, and CEO and the employee will take appropriate steps to resolve the conflict. Form 990, Part VI, Section B, Line 15 The board of directors is responsible for determining the compensation of the CEO. The executive compensation committee of the board of directors engages an outside compensation consultant to review the compensation of the CEO, provide data of comparable compensation for other similarly qualified position in the credit union or financial services industry and to assist in the review and/or development of the compensation philosophy. The executive compensation committee recommends the total compensation package for the CEO to the board of directors for approval. In order to attract and retain quality employees, STCU is committed to paying salaries which are non discriminatory equitable, and competitive with the salaries paid by other companies in our industry and surrounding area. The Human Resources department staff participates in a variety of annual salary surveys for other executive manager positions, key employees and all other staff positions and submits recommendations for any compensation adjustments to the CEO or the executive management team for approval and effective date of changes. Positions are evaluated to determine relevant job titles, job descriptions and salary ranges. Form 990, Part VI, Section C, Line 19 Governing documents, policies and financial statements may be requested by writing to Ezra Eckhardt, CEO, STCU, 1620 N Signal Dr, Liberty Lake, WA 99019. Form 990, Part XI, Line 9 Total change in available for sale market allowance -$68,827,266 and adjustment to equity acquired in merger $470,907 AgWest Financial LLC 1620 N Signal Dr Liberty Lake WA 99019 851742759 Agricultural Lending WA Spokane Teachers Credit Union S 1 1 Columbia Inland Financial Corp 1620 N Signal Dr Liberty Lake WA 99019 911499278 Escrow services WA Spokane Teachers Credit Union S 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 AgWest Financial LLC d 2603525 Outstanding loan balances AgWest Financial LLC b 4650000 total capital contributions from STCU to AgWest Extension filed and accepted electronically.