2024-11-12T14:04:45-06:00 2023-12-31 810987947 HAUSER JONES & SAS PLLC 10940 NE 33RD PLACE SUITE 100 BELLEVUE WA 98004 990 2023-01-01 910722603 CREDIT UNIONS IN THE STATE OF WASHINGTON CRED 3603076400 PO BOX 3990 10200 SIVERDALE WAY SILVERDALE WA 983833990 SCOTT PRIOR PRESIDENT/CEO 3603076400 2024-11-12 1 0 ROGER A JONES CPA P01702335 4258891778 2024-11-11 2023 2024-10-15 13:58:12Z CONNECTION CREDIT UNION SCOTT PRIOR 10200 SIVERDALE WAY PO BOX 3990 SILVERDALE WA 983833990 2499762 0 X WWW.CONNECTIONCU.ORG X FINANCIAL IN 1958 WA SEE SCHEDULE O CONNECTION CREDIT UNION PROVIDES EACH MEMBER OF OUR LOCAL COOPERATIVE FAMILY, INCLUDING THOSE UNDERSERVED BY LARGER INSTITUTIONS, WITH PERSONALIZED FINANCIAL AND EDUCATION SERVICES, ENSURING ALL OUR MEMBERS HAVE THE TOOLS FOR FINANCIAL SUCCESS. 7 7 22 11 6004 0 0 0 1928217 2336595 92387 119645 184792 43522 2205396 2499762 0 0 0 0 846972 994170 0 0 0 948457 1213536 1795429 2207706 409967 292056 40744861 39750135 35994702 34969085 4750159 4781050 CONNECTION CREDIT UNION PROVIDES EACH MEMBER OF OUR LOCAL COOPERATIVE FAMILY, INCLUDING THOSE UNDERSERVED BY LARGER INSTITUTIONS, WITH PERSONALIZED FINANCIAL AND EDUCATION SERVICES, ENSURING ALL OUR MEMBERS HAVE THE TOOLS FOR FINANCIAL SUCCESS. 0 0 PROVIDED FINANCIAL SERVICES CONSISTING OF 4,457 LOANS AND 5,596 DEPOSIT ACCOUNTS TO THE ORGANIZATION'S 3,460 MEMBERS. GRANTED 340 NEW LOANS TO MEMBERS DURING THE COURSE OF THE YEAR. 0 0 0 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 610 0 1 22 0 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X SCOTT PRIOR 3603076400 10200 SIVERDALE WAY SIVERDALE WA 98383 DOUGLAS BEAR BOARD CHAIR 1.00 X 0 0 0 JAMES ROGERS DIRECTOR 1.00 X 0 0 0 HEIDI ROBNETT SECRETARY 1.00 X 0 0 0 ALLISON SATTER VICE CHAIR 1.00 X 0 0 0 DENA SWISHER DIRECTOR 1.00 X 0 0 0 JOHN JOGERST DIRECTOR 1.00 X 0 0 0 GERRIT TULP DIRECTOR 1.00 X 0 0 0 SCOTT PRIOR PRESIDENT & CEO 50.00 X 125465 0 28896 125465 0 28896 1 0 1 0 0 INTEREST ON MEMBER LOA 522291 2049365 2049365 FEES PAID BY MEMBERS 522100 142706 141245 1461 INTERCHANGE INCOME 522100 139981 139981 NON MEMBER ATM 525990 4543 4543 2336595 119645 119645 OTHER OPERATING INCOME 900099 43522 43522 43522 2499762 2374113 6004 119645 125465 690995 800 102562 74348 4457 24457 2399 50736 51636 89981 121627 35820 17217 44964 2290 35133 17822 LOAN SERVICE & COLLECTI 374460 PROVISION FOR LOAN LOSS 168419 DIVIDENDS PAID TO MEMBE 102286 BANK SERVICING CHARGES 24257 45575 2207706 290701 295261 1063618 3198618 1134914 1158520 32874068 31809156 298874 305331 2029722 1029491 1030576 1000231 3234000 1242000 818110 741018 40744861 39750135 258711 392832 35735991 34576253 35994702 34969085 X 0 0 0 0 4750159 4781050 4750159 4781050 40744861 39750135 X 292056 -107859 -153306 X 0 0 0 268600 268600 1213095 542048 671047 33829 33829 0 514198 453614 60584 1000231 MEMBER DEPOSITS 34576253 34576253 X 0 0 0 SCOTT PRIOR PRESIDENT & CEO 125465 0 0 0 0 0 0 0 0 28896 125465 28896 0 0 SCOTT PRIOR CEO SPLIT DOLLAR LIFE INSURANCE X 1100000 1158520 0 1 1 1158520 FORM 990, PART I, LINE 6 VOLUNTEERS PROVIDE CASH COUNTS AT BRANCHES, OVERSIGHT OF BOARD OF DIRECTORS, AUDIT AND MEMBER VERIFICATION AUDIT, REVIEWS INTERNAL AUDIT FUNCTION. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS 3,460 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION IS ORGANIZED AS A COOPERATIVE. THE INDIVIDUALS WHO QUALIFY FOR OUR FIELD OF MEMBERSHIP OR MEMBERS IN TURN ELECT A VOLUNTEER BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE. VOTE ON ANY BYLAW CHANGES AT ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B AT THE CREDIT UNION'S ANNUAL MEETING THE CREDIT UNION MEMBERS VOTE FOR MEMBERS OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE. MEMBERS OF THE CREDIT UNION'S BOARD OF DIRECTORS AND/OR MEMBERS OF THE SUPERVISORY COMMITTEE MAY BE REMOVED FROM THEIR POSITION BY THE MEMBERS OF THE CREDIT UNION AT A SPECIAL MEMBERSHIP MEETING CALLED FOR THAT PURPOSE. A SPECIAL MEMBERSHIP MEETING MAY BE CALLED BY THE MAJORITY OF THE CREDIT UNION'S BOARD OF DIRECTORS, A MAJORITY VOTE OF THE CREDIT UNION'S SUPERVISORY COMMITTEE OR UPON WRITTEN APPLICAITON OF THE LESSOR OF TEN PERCENT OR TWO THOUSAND VOTING CREDIT UNION MEMBERS. EACH CREDIT UNION MEMBER WILL HAVE ONE VOTE REGARDLESS OF SHARES HELD IN THE CREDIT UNION. IN ORDER TO BE ELIGIBLE TO VOTE AT A MEMBERSHIP MEETING, THE MEMBER MUST HAVE REACHED EIGHTEEN YEARS OF AGE. NO VOTES MAY BE CAST BY PROXY. MEMBERSHIP HELD BY ENTITIES OTHER THAN NATURAL PERSONS WILL HAVE ONE VOTE WHICH WILL BE CAST THROUGH AN AGENT DESIGNATED IN WRITING BY THE ENTITY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE CEO AND VICE PRESIDENT FOR ACCURACY AND COMPLETENESS. FORM 990, PART VI, SECTION B, LINE 12C EACH VOLUNTEER IS REQUIRED ANNUALLY TO SIGN AND/OR ACKNOWLEDGE COMPLIANCE WITH THE CREDIT UNION'S CODE OF CONDUCT POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD WILL REVIEW PERFORMANCE DURING THE PREVIOUS YEAR AND ALSO CONSIDER INDUSTRY INFORMATION FROM THE ANNUAL SALARY SURVEY COMPLETED BY CUNA. FOR ALL EMPLOYEES, THE PROCESS IS THAT THE CEO WILL PUT TOGETHER A BUDGET AND SPREADSHEET NOTING THE RECOMMENDATIONS AND FINANCIAL IMPACT AND REASONS AND THEN HAVE A DISCUSSION WITH THE EXECUTIVE COMMITTEE (BOARD CHAIR, SECRETARY AND VICE CHAIR). RECOMMENDATIONS ARE APPROVED AND DENIED BASED ON EXECUTIVE COMMITTEE RECOMMENDATIONS. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST IN ACCORDANCE WITH APPLICABLE STATE AND FEDERAL REGULATIONS. FORM 990, PART XI, LINE 9: ONE TIME ADJUSTMENT TO UNDIVIDED EARNINGS FOR EARLY ADOPTION OF CECL -153,306.