2025-11-07T12:25:21-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 805 SW BROADWAY STE 1400 PORTLAND OR 97205 990 2024-01-01 930163693 SELCO COMMUNITY CREDIT UNION SELC 5416868000 PO BOX 7487 SPRINGFIELD OR 97475 TIFFANY WASHINGTON CEO 5416868000 2025-11-05 1 0 WENDY CAMPOS P00448102 5032421447 2025-11-05 2024 2025-03-06 01:10:19Z J ROBERT NEWCOMB PO BOX 7487 SPRINGFIELD OR 97475 160818842 0 X WWW.SELCO.ORG X 1936 OR SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 5 5 536 10 629557 186478 0 0 98582132 115442719 27677760 29589886 13559267 14458077 139819159 159490682 106006 78692 0 0 49514910 54112253 0 0 0 72073439 84416200 121694355 138607145 18124804 20883537 2727247560 2772150576 2473105006 2494120075 254142554 278030501 SELCO STRIVES TO PROVIDE FINANCIAL SERVICES THAT IMPROVE OUR MEMBERS' SOCIAL AND ECONOMIC CONDITION. 0 0 THE CREDIT UNION PAID OVER $48 MILLION IN DIVIDENDS TO MEMBERS. DEPOSIT ACCOUNTS INCLUDE SAVINGS, CHECKING, MONEY MARKET ACCOUNTS AND CERTIFICATES OF DEPOSIT. AS OF DECEMBER 31, 2024, DEPOSITS TOTALED $2.5 BILLION. THE CREDIT UNION DISBURSED OVER $496 MILLION IN NEW LOANS TO MEMBERS. LOANS INCLUDE AUTO, HOME MORTGAGE, HOME EQUITY, CREDIT CARD, AND BUSINESS LOANS. AT DECEMBER 31, 2024, LOANS OUTSTANDING TOTALED $1.9 BILLION. DURING 2024, THE CREDIT UNION PROVIDED FINANCIAL PLANNING SERVICES TO APPROXIMATELY 2,700 MEMBERS WITH ASSETS UNDER MANAGEMENT OF $420 MILLION. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 59819 0 1 536 1 1 1 0 0 0 0 0 1 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X TIFFANY WASHINGTON 5416868000 PO BOX 7487 SPRINGFIELD OR 97475 CAROL BECKLEY PRESIDENT/CHAIRPERSON 3.00 X X 27500 0 0 TONY SAXMAN VICE PRESIDENT/VICE CHAIRPERSON 2.00 X X 25732 0 0 CURT HEIMULLER DIRECTOR 2.00 X 25695 0 0 JIM ANTONINI DIRECTOR 2.00 X 22917 0 0 TAMMI MILLER DIRECTOR 2.00 X 22917 0 0 J ROBERT NEWCOMB CEO AND SECRETARY 60.00 5.00 X 4559046 0 47388 TIFFANY WASHINGTON EVP FINANCE & OPERATIONS & TREASURER 50.00 X 499132 0 36975 CRAIG CARPENTER SVP LENDING & BUSINESS BANKING 50.00 X 929264 0 35595 KIRK LETOURNEAU SVP INFORMATION SERVICES AND TECH 50.00 X 391957 0 35595 STEVEN MCINTIRE SVP ENTERPRISE RISK & GEN. COUNSEL 50.00 X 384490 0 35595 MICHAEL DONACA VP COMMERCIAL & BUSINESS BANKING 45.00 X 277503 0 22775 MICHAEL SAULEY VP CONSUMER LENDING 45.00 X 260239 0 32441 AILENE MANION VP MEMBER EXPERIENCE 45.00 X 250768 0 33374 7677160 0 279738 98 0 1 0 DAY VENGLEY & ASSOCIATES 211 NE HAWTHORNE AVE STE 200 BEND OR 97701 ADVERTISING SERVICES 1693708 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 SOFWARE AND PROGRAMMING SERVICES 1153096 COMFORT FLOW HEATING 1951 DON STREET SPRINGFIELD OR 97477 HVAC EQUIPMENT AND MAINTENANCE SERVICES 1028804 DIEBOLD INC PO BOX 643543 PITTSBURG PA 15264 ATM EQUIPMENT AND MAINTENANCE SERVICES 992567 ENGAGE FI LLC 5550 W EXECUTIVE DR STE 540 TAMPA FL 33609 CONSULTING SERVICES 597995 40 INTEREST ON LOANS 522100 99071145 99071145 SERVICE CHARGES & FEES 522100 16371574 16053758 317816 115442719 29677869 311741 29366128 77721 48319 29402 29402 29402 1179758 12100 1269233 10608 -89475 1492 -87983 -87983 INTERCHANGE INCOME 900099 13681001 13681001 OTHER REVENUE 900099 747674 747674 14428675 159490682 129553578 629557 29307547 1192 77500 6232159 35536842 3674481 5165456 3503315 7278 207510 575791 2525524 4718912 3986249 3611404 262174 48529718 298013 PROVISION FOR LOAN LOSS 8721590 LOAN SERVICING 6022328 FEDERAL EXCISE TAX 633692 TAXES ON UBI 200181 4115836 138607145 9282832 48259769 292168073 230824766 4599490 4404414 1866921135 1902269386 72789825 30787329 41843093 42002496 472617973 503727059 4352396 4733934 35462568 35928752 2727247560 2772150576 22631617 24747881 1137012 1332681 2449336377 2468039513 2473105006 2494120075 X 0 0 0 0 254142554 278030501 254142554 278030501 2727247560 2772150576 X 20883537 3209459 -205049 X 0 1 X 1 0 0 1 X 13644032 13644032 39585125 14423553 25161572 272288 272034 254 19288380 16091742 3196638 42002496 MEMBERS SHARE AND SAVINGS ACCOUNT 2460517522 DEFERRED COMPENSATION 7405615 LEASE LIABILITY 116376 2468039513 X PART IV, LINE 2B: THE CREDIT UNION HOLDS MORTGAGE ESCROW FUNDS. PART X, LINE 2: FIN 48 (ASC 740) FINANCIAL STATEMENT FOOTNOTE - THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2024 AND 2023. THE CREDIT UNION RECOGNIZES THE ACCRUAL OF INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AS A TAX EXPENSE. DURING THE YEARS ENDED DECEMBER 31, 2024 AND 2023, IT RECOGNIZED NO MATERIAL INTEREST OR PENALTIES. 1 COLLEGE SCHOLARSHIPS 21 77500 PART I, LINE 2: NO MONITORING OF CLASSROOM GRANTS OR STUDENT SCHOLARSHIPS IS PERFORMED. X X 1 1 X X 0 1 0 J ROBERT NEWCOMB CEO AND SECRETARY 3209748 0 1335744 0 13554 0 25875 0 21513 0 4606434 0 0 0 CRAIG CARPENTER SVP LENDING & BUSINESS BANKING 377163 0 53997 0 498104 0 25875 0 9720 0 964859 0 0 0 TIFFANY WASHINGTON EVP FINANCE & OPERATIONS & TREASURER 432029 0 63342 0 3761 0 25875 0 11100 0 536107 0 0 0 KIRK LETOURNEAU SVP INFORMATION SERVICES AND TECH 332407 0 52013 0 7537 0 25875 0 9720 0 427552 0 0 0 STEVEN MCINTIRE SVP ENTERPRISE RISK & GEN. COUNSEL 327249 0 52070 0 5171 0 25875 0 9720 0 420085 0 0 0 MICHAEL DONACA VP COMMERCIAL & BUSINESS BANKING 229522 0 47381 0 600 0 22775 0 0 0 300278 0 0 0 MICHAEL SAULEY VP CONSUMER LENDING 231506 0 27328 0 1405 0 22025 0 10416 0 292680 0 0 0 AILENE MANION VP MEMBER EXPERIENCE 222558 0 26922 0 1288 0 20906 0 12468 0 284142 0 0 0 PART I, LINE 1A THE CREDIT UNION WILL PROVIDE AIRFARE FOR A TRAVEL PARTNER FOR EACH BOARD MEMBER TO ONE NATIONAL CONFERENCE WITHIN THE UNITED STATES PER YEAR. THE AIRFAIRE IS REPORTED AS TAXABLE INCOME TO THE BOARD MEMBER. THE CREDIT UNION PROVIDES TAX GROSS-UP PAYMENTS TO ITS CEO. THESE BENEFITS ARE REPORTED AS TAXABLE INCOME FOR EACH INDIVIDUAL RECEIVING A BENEFIT. PART I, LINE 4B J ROBERT NEWCOMB PARTICIPATES IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2024. TIFFANY WASHINGTON, CRAIG CARPENTER, STEVE MCINTIRE, AND KIRK LETOURNEAU PARTICIPATE IN A 457(F) DEFERRED COMPENSATION AGREEMENT SUBJECT TO CONTINUOUS EMPLOYMENT. NO PLAN BENEFITS WERE PAID IN 2024. SENIOR EXECUTIVES PARTICIPATE IN A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN. CRAIG CARPENTER'S PLAN REACHED IT'S MATURITY DATE AND $492,918 WERE DISTRIBUTED. ROBERT NEWCOMB CEO SPLIT-DOLLAR LIFE INSURANCE X 813420 4326508 0 1 1 ROBERT NEWCOMB CEO HOME MORTGAGE X 725000 77906 0 1 1 4404414 SCHEDULE L, PART II, LINE 1 THE CREDIT UNION (THE LENDER) HAS A SPLIT DOLLAR LIFE INSURANCE PLAN WITH THE CEO. THIS AGREEMENT INCLUDES A NONRECOURSE LOAN TO THE EXECUTIVE (THE BORROWER). THE LENDER EXPECTS THAT THE PAYMENT UNDER THE LOAN WILL BE MADE IN FULL INCLUDING INTEREST AT THE AFR APPLICABLE RATE. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MEMBER OWNED. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY A VOTE OF THE CREDIT UNION'S MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B REMOVAL OF DIRECTORS MUST BE RATIFIED BY A VOTE OF THE CREDIT UNION'S MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY SENIOR MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS FILE AN ANNUAL CONFLICT OF INTEREST STATEMENT. THE CREDIT UNION REPORTS RELATED PARTY LOANS ON THE NCUA CALL REPORT BUT OTHERWISE RELIES ON SELF-REPORTING TO MONITOR ONGOING TRANSACTIONS. POTENTIAL CONFLICTS WOULD BE REVIEWED BY THE CREDIT UNION'S LEGAL COUNSEL. RESTRICTIONS IMPOSED AS THE RESULT OF AN ACTUAL CONFLICT OF INTEREST DEPEND ON THE NATURE OF THE CONFLICT. THERE ARE NO KNOWN CONFLICTS AND NO RESTRICIONS ARE CURRENTLY IN EFFECT. FORM 990, PART VI, SECTION B, LINE 15A THE SELCO COMMUNITY CREDIT UNION SALARY ADMINISTRATION PROGRAM METHODOLOGY IS DESIGNED TO ATTRACT AND RETAIN TOP TALENT WITHIN THE INDUSTRY. ONE COMPONENT OF THE PROGRAM IS THE UTILIZATION OF SALARY SURVEY DATA WHICH PROVIDES GUIDANCE IN ESTABLISHING APPROPRIATE SALARY RANGES AND IN DETERMINING ANNUAL BASE PAY CHANGES. IN LIEU OF RELEVANT SURVEY INFORMATION, HUMAN RESOURCES COMPILES PUBLICALLY AVAILABLE FORM 990 DATA TO USE FOR BENCHMARKING. THIS DATA INCLUDES ONLY STATE-CHARTERED CREDIT UNIONS SINCE FEDERALLY-CHARTERED CREDIT UNIONS ARE EXCLUDED FROM THE REQUIREMENT TO FILE AN INDIVIDUAL FORM 990. THE BENCHMARK DATA IS PROVIDED TO THE BOARD OF DIRECTORS EACH JANUARY TO BE USED AS A GENERAL COMPARISON AND GUIDANCE. PERIODICALLY, THE BOARD MAY COMMISSION AN EXTERNAL FIRM TO PROVIDE BENCHMARK DATA. DURING THE CEO PERFORMANCE EVALUATION PROCESS, THE BOARD MEETS IN EXECUTIVE SESSION TO DISCUSS CEO PERFORMANCE, REVIEW COMPENSATION BENCHMARK DATA, AND ESTABLISH THE APPROPRIATE COMPENSATION LEVEL. COMPENSATION CHANGES ARE DOCUMENTED IN A MEMO TO THE PAYROLL AND PERSONNEL FILE, WHICH SUMMARIZES THE MEETING DISCUSSION AND MEMORIALIZES ACTIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY MAY BE MADE AVAILABLE UPON REQUEST. ANNUAL FINANCIAL STATEMENTS ARE POSTED ON THE CREDIT UNION'S WEBSITE AND MONTHLY STATEMENTS ARE POSTED IN EACH BRANCH LOCATION. FORM 990, PART XI, LINE 9: PASSTHROUGH BOOK/TAX DIFFERENCES -205,049. INOVA LLC 110 INTERNATIONAL WAY SPRINGFIELD OR 97477 272430222 AUTO DEALER OR -7124 13029 SELCO COMMUNITY CREDIT UNION SELCO GROUP INC 925 HARLOW SPRINGFIELD OR 97477 930829603 INSURANCE SALES OR SELCO COMMUNITY CREDIT UNION C 240500 3506277 1.00000 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 1 1 0 0 SELCO GROUP INCORPORATED A 77721 FMV/CASH PAID SELCO GROUP INCORPORATED L 495106 FMV/CASH PAID SELCO GROUP INCORPORATED Q 495106 FMV/CASH PAID