2025-05-12T12:08:35-07:00 2024-12-31 990 2024-01-01 910587877 INDUSTRIAL CREDIT UNION OF WHATCOM COUNTY INDU 3607342043 PO Box 1767 BELLINGHAM WA 98227 Richard Holcomb VP of Finance 3607342043 2025-04-30 1 2024 2025-03-06 01:10:19Z Brandon Hahnel PO Box 1767 Bellingham WA 98227 32267987 0 X WWW.INDUSTRIALCU.COM X NOT FOR PROFIT 1941 WA Providing financial services to 34,709 members mostly residing in Whatcom County in the State of Washington. 8 8 122 10 0 0 516265 280000 25302511 24260631 1525202 3044772 6000 6000 27349978 27591403 0 0 0 0 8926052 9105703 0 0 0 19025925 17554277 27951977 26659980 -601999 931423 380307548 389432803 353358102 361305469 26949446 28127334 Providing financial services to 34,709 member which includes but is not limited to loans and savings programs. These services are provided by 10 volunteers and 105 full and part time employees. 0 0 26659980 27591403 Providing financial services to 34,709 members which includes but is not limited to loans and savings programs. These services are provided by 10 volunteers and 105 full and part time employees. 0 0 0 26659980 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 1 122 1 0 0 0 0 0 0 0 0 X 8 8 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 393419 0 0 Richard Holcomb VP/Finance 45.00 45.00 X X 167333 0 0 BJ Van Leeuwen VP/Lending 45 45 X X 159034 0 0 Vickie Skelton VP/Operations 45 45 X X 150019 0 0 Andy Thom VP/IT 40 40 X 132939 0 0 Denise Pethick VP/Human Resources 40 40 X 132283 0 0 Dain Stevens VP/Digital Services 45 45 X X 127365 0 0 Ashley Walker Mortgage Program Manager 45 45 X 119228 0 0 Corey Vincent Business Intelligence Developer 45 45 X 117711 0 0 Kessa Volland Director of Marketing 45 45 X 109174 0 0 Annie Johnson Director/Compliance 45 45 X 103749 0 0 David Enertsen Director Enterprise Applications 45 45 X 100539 0 0 Harold Henkel Board of Director/Secretary 1 0 X 2200 0 0 Matthew Cooper Supervisory Committee 1 0 X 2200 0 0 Michael Ashby Board Chair 2 0 X 2000 0 0 Nikole Knauft Board of Director/Vice Chair 1 0 X 2000 0 0 Areti Moulares Supervisory Committee Chair 2 0 X 2000 0 0 Melissa Johnston Board of Director 1 0 X 1800 0 0 Stan Godek Board of Director 1 0 X 1800 0 0 Bonnie Drafs Supervisory Committee 1 0 X 1600 0 0 Dennis McGrew Board of Director 1 0 X 1600 0 0 Lauren Johnson Board of Director 1 0 X 800 0 0 Rich Maricle Board of Director 1 0 X 0 0 0 1830793 0 0 12 1 1 0 GKS Media 2263 Mt Baker Hwy Belingham WA 98226 Digital Marketing 147400 1 0 0 0 0 280000 0 0 280000 Interest on Loans 522130 17707127 17707127 0 0 Revenue Paid by Members for Services 522130 6553504 6553504 0 0 0 0 0 0 24260631 3531260 3531260 0 0 0 0 0 0 0 0 0 0 6000 0 0 0 6000 0 6000 6000 0 0 0 4190096 0 4676584 0 -486488 -486488 -486488 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 27591403 27311403 0 0 0 0 0 0 1901011 0 5291936 196641 1132242 583873 0 56261 175565 0 0 0 371304 530880 755466 3131562 0 698068 63639 0 42313 4617624 0 711345 85753 Provision for Loan Loss 5184529 Loan Servicing 571754 Other Operating 503028 Member Statements 55186 0 26659980 0 0 0 2972663 1697841 22664567 54901213 0 253394 192441 0 0 0 0 300320392 263486321 0 0 789031 882806 14384076 7595353 6425465 6788723 309680 347080 0 0 43714611 58738264 0 0 2857745 2398114 380307548 389432803 5711327 4672601 0 0 0 0 0 0 0 0 0 0 14000000 14000000 0 0 333646775 342632868 353358102 361305469 X 0 0 0 0 26949446 28127334 26949446 28127334 380307548 389432803 931423 246465 0 0 0 0 X 1 X 1 X 1 0 1885957 0 1885957 6588568 0 2948817 3639751 347806 0 347806 0 5561745 0 4298730 1263015 0 0 0 0 6788723 Mortgage / Agency Securities 53829719 F Non-Publiclly Owned Stock 1340654 C NCUSIF Share Insurance Fund 3265725 C Credit Union Membership Capital 302166 C 58738264 0 Member Deposits 342632868 342632868 27591403 0 0 0 0 0 27591403 0 0 0 27591403 26659980 0 0 0 0 0 26659980 0 0 0 26659980 X 0 0 0 Brandon Hahnel President/CEO 298111 0 0 0 95308 0 101887 0 0 0 495306 0 76109 0 Richard Holcomb VP/Finance 167333 0 0 0 0 0 14840 0 0 0 182173 0 0 0 BJ Van Leeuwen VP/Lending 159034 0 0 0 0 0 9542 0 0 0 168576 0 0 0 Vickie Skelton VP/Operations 150019 0 0 0 0 0 9001 0 0 0 159020 0 0 0 Andy Thom VP/IT 132939 0 0 0 0 0 7976 0 0 0 140915 0 0 0 Denise Pethick VP/Human Resources 132283 0 0 0 0 0 7937 0 0 0 140220 0 0 0 Dain Stevens VP/Digital Services 127365 0 0 0 0 0 7642 0 0 0 135007 0 0 0 Corey Vincent Business Intelligence Developer 117711 0 0 0 0 0 5893 0 0 0 123604 0 0 0 Kessa Volland Director of Marketing 109174 0 0 0 0 0 6550 0 0 0 115724 0 0 0 Annie Johnson Director/Compliance 103749 0 0 0 0 0 6225 0 0 0 109974 0 0 0 Ashley Walker Mortgage Program Manager 119228 0 0 0 0 0 0 0 0 0 119228 0 0 0 David Enertsen Director Enterprise Applications 100539 0 0 0 0 0 6032 0 0 0 106571 0 0 0 Schedule J, Part II The 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 are 401k match contributions made by the credit union. Part B line iii shows the CEO other reportable compensation at $95,308 which is a 457F payout to the President CEO in 2024. This will be part of the W-2 salary for 2024. 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 a 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 were to merge with another credit union (or the other credit unio merged with 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 made prior to submission. The VP/Finance will file and retain the 990 report. Form 990, Part VI, Section B, Line 12c The credit union has 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 operations. 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 "Balanced Comp" who is 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. Annual compensation for both the board of directors and supervisory committee are provided on the credit union's website. Industrial Credit Union Services Inc PO Box 1767 Bellingham WA 98227 911263538 Currently Inactive 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