2025-09-17T19:34:49-07:00 2024-12-31 990 2024-01-01 911274190 CREDIT UNIONS IN THE STATE OF WASHINGTON CRED 3603525033 PO Box 207 Olympia WA 985070207 Teresa Carlson VP of Finance & Operations 3603525033 2025-09-17 1 2024 2025-03-06 01:10:19Z WCLA Credit Union Charles Thompson 2419 Pacific Ave SE Olympia WA 98501 8322377 0 1269 X loggerscu.com X 1985 WA To provide services to members mandated in the Credit Union Act and Charter, including providing members the opportunity to assist other members. 7 6 11 13 0 0 0 5999469 7853353 400737 467827 0 0 6400206 8321180 9850 13000 0 0 1543588 1402648 0 0 0 3135232 4847644 4688670 6263292 1711536 2057888 121032916 125915543 101785132 104609871 19247784 21305672 To provide services to members mandated in the Credit Union Act and Charter, including providing members the opportunity to assist other members. The purpose of this Credit Union is to promote thrift among its members and to create a source of credit for them at legitimate rates of interest for provident, productive and educational purposes. 0 0 WCLA Credit Union is a section 501(c)(14) cooperative-owned, state-chartered credit union that provides financial services, including loan and share accounts, to its approximately 1400 members, similar to federally-chartered credit unions. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 623 0 1 11 1 0 0 0 0 0 0 0 0 X 7 6 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 0 1 0 0 X Charles Thompson 3603525033 PO Box 207 Olympia WA 985070207 Charles Thompson CEO 45 0 X 193699 0 45499 Casey Smith Senior Loan Officer 45 0 X 173460 0 30648 Teresa Carlson Accounting/Operations Manager 45 0 X 168325 0 29709 Brian Bahs Former CEO 0 0 X 191415 0 0 Brandon Dunnaback Loan Officer 45 0 X 119847 0 36149 Chad Yerrington Loan Officer 45 0 X 130305 0 23126 Greg Horsley Board Treasurer/Board Chair 1 0 X 0 0 0 Roger Smith Board Vice Chair 1 0 X 0 0 0 Edward Gould Board Member/Director/Treas/Sec 1 0 X 0 0 0 Blair Stadin Board Member/Director 1 0 X 0 0 0 Rob Allen Board Member/Director 1 0 X 0 0 0 Kylie Pegoraro Board Member/Director 1 0 X 0 0 0 Tim Eastman Board Member/Director 1 0 X 0 0 0 977051 0 165131 6 1 1 0 0 0 Commercial & Consumer Loan Interest 522130 7723310 7723310 0 0 Member Fee Income 522130 96342 96342 0 0 Credit Card Interchange Income 522130 25329 25329 0 0 Other Operating Income 522130 8372 8372 0 0 0 0 0 0 7853353 468524 468524 0 0 0 0 0 0 0 0 0 0 0 0 0 500 0 1197 0 -697 -697 -697 0 0 0 8321180 8321180 0 0 8500 4500 0 0 626111 0 567034 17363 98147 93993 0 1313 44387 0 0 0 68909 40506 89689 186489 77547 25769 0 38599 164464 28290 32827 Member & Nonmember Dividend Expense 3889241 Provision for Credit Loss Expense 124000 Loan Origination Direct Costs -96230 Loan Servicing Expense 87116 44728 6263292 0 0 0 80441 85766 9251982 6356595 102577653 109289908 117157 83542 357341 132689 168564 224652 1481978 738353 6200738 7399271 1154403 1737456 121032916 125915543 172388 152820 6393 5988 101606351 104451063 101785132 104609871 X 0 0 0 0 19247784 21305672 19247784 21305672 121032916 125915543 2057888 0 0 0 0 0 X 1 X 0 1 0 0 0 0 0 0 0 0 0 54180 1464 52716 0 303161 131225 171936 0 0 0 0 224652 Brokered CDs HTM Maturity > 1 Year 7389000 C Corp CU Perpetually Contributed Capital 10271 C 7399271 Member & Nonmember Share Deposits 101056616 Corporate CU Borrowings 3210000 Lease Liability 182047 General Ledger Adjust & Clearing Accts 2400 104451063 X X X X 0 0 0 Charles Thompson CEO 177199 0 16500 0 0 0 31130 0 14370 0 239199 0 16500 0 Casey Smith Senior Loan Officer 157950 0 14130 0 1380 0 13576 0 17072 0 204108 0 4500 0 Teresa Carlson Accounting/Operations Manager 154525 0 13800 0 0 0 12236 0 17472 0 198033 0 4350 0 Brian Bahs Former CEO 0 0 22445 0 168970 0 0 0 0 0 191415 0 22445 0 Brandon Dunnaback Loan Officer 107967 0 10500 0 1380 0 9795 0 26354 0 155996 0 3300 0 Chad Yerrington Loan Officer 120000 0 8925 0 1380 0 8781 0 14345 0 153431 0 1725 0 Schedule J, Part I, Line 3 All of the items indicated were used to assist during the CEO's annual compensation review. Casey Smith Family of Roger Smith, Vice-Chair 204108 Employment Compensation 0 Form 990, Part VI, Section A, Line 2 Director Roger Smith is related to key employee Casey Smith. Form 990, Part VI, Section A, Line 6 The organization is a state-chartered credit union with a field of membership consisting of people involved in or related to the timber industry, including people and businesses who obtain insurance through the WCLA Insurance Agency, Inc. The membership was also expanded to include several state-chartered credit unions across the country and all federally-chartered credit unions and by extension the employees of those credit unions. Form 990, Part VI, Section A, Line 7a All of the credit union's members have the opportunity to elect the governing body of the credit union for a specific term at the credit union's annual meeting. Form 990, Part VI, Section A, Line 7b All of the credit union's members have the ability to approve elections for a specific term and dismissal, if applicable, of the governing body of the credit union at the credit union's annual or any special membership meeting(s). Form 990, Part VI, Section B, Line 11b The IRS 990 is compiled by the credit union's VP of Operations and then given to the President/CEO for extensive review prior to filing. It is available upon request to other members of the governing body. Form 990, Part VI, Section B, Line 12c The credit union's Board of Directors and Supervisory Committee are required annually to be trained on and to sign the organization's Conflict of Interest Polic. Restrictions are in place and activity is monitored throughout the year to determine if any such conflict arises. Form 990, Part VI, Section B, Line 15 The process for determining change in compensation for the credit union's President/CEO is performed annually. The board members/compensation committee members discuss, independently of the officer(s), a suggested and approved compensation. As of December 31, 2024, the process was last utilized in January 2024 for determining compensation. Form 990, Part VI, Section C, Line 19 The credit union's governing documents, conflict of interest policy and financial statements are available upon request (annual report is available on the CU's website). Most other policies and procedures are not gernally made available to the public.