POTLATCH NO1 FINANCIAL CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2019

Legal Domicile

Principal Officer

CHRISTOPHER LOSETH

Phone

2087468900

Tax Period

2024-01-01 to 2024-12-31

POTLATCH NO1 FINANCIAL CREDIT UNION, founded in 2019, is a major nonprofit in the Public & Societal Benefit sector that reported $149.6M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

P1FCU IS COMMITTED TO FINANCIAL WELL-BEING FOR ALL AND COMMUNITY ENRICHMENT IN THE PACIFIC NORTHWEST. WE BUILD STRONGER COMMUNITIES WITH MEMBER-DRIVEN SERVICE AND MODERN FINANCIAL SOLUTIONS WHILE CONTINUING OUR TRADITION OF TRUST.

Program Service Accomplishments

Program 1

PROVIDE FINANCIAL SERVICES TO 127,873 MEMBERS. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, CONSUMER AUTO LENDING, CONSUMER MORTGAGE LENDING, COMMERCIAL LENDING, DEPOSIT ACCOUNTS INCLUDING...

PROVIDE FINANCIAL SERVICES TO 127,873 MEMBERS. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, CONSUMER AUTO LENDING, CONSUMER MORTGAGE LENDING, COMMERCIAL LENDING, DEPOSIT ACCOUNTS INCLUDING SAVINGS, CHECKING, MONEY MARKETS AND CD'S.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $126,138,555

Investment Income $23,467,995

Other Revenue $0

TOTAL REVENUE $149,606,550

Expense Breakdown

Grants Paid $1,111,891

Salaries & Benefits $44,959,051

Fundraising Expenses $0

Other Expenses $107,745,372

TOTAL EXPENSES $153,816,314

Year-over-Year Comparison

	2024	2023	Change
Revenue	$149,606,550	$137,633,569	+0.1%
Expenses	$153,816,314	$130,703,773	+0.2%
Net Income	$-4,209,764	$6,929,796	-1.6%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

483

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$9,520,137

Total Directors

$2,125

Key Employees

$1,454,513

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOD DICKESON	BOARD CHAIR	5.00	Director	$0	$0	$0
KYLE MORSCHECK	BOARD VICE CHAIR	5.00	Director	$0	$0	$0
TARA LEER	BOARD TREASURER	5.00	Director	$0	$0	$0
MICHELLE BLY	BOARD SECRETARY	5.00	Director	$0	$0	$0
TOM PFILGER	BOARD MEMBER	5.00	Director	$2,125	$0	$2,125
WANDA KEEFER	BOARD MEMBER	5.00	Director	$0	$0	$0
DUANE WRIGHT	BOARD MEMBER	5.00	Director	$0	$0	$0
BRETT KINZER	BOARD MEMBER	5.00	Director	$0	$0	$0
KYM CLIFT	BOARD MEMBER	5.00	Director	$0	$0	$0
CHRISTOPHER LOSETH	PRESIDENT/CEO	60.00	Officer	$5,524,124	$216,739	$5,740,863
CRAIG EMERSON	CHIEF FINANCIAL OFFICER	60.00	Officer	$1,063,451	$38,491	$1,101,942
TROY SANDVICK	CHIEF DATA OFFICER	60.00	Officer	$458,987	$102,278	$561,265
RICHARD PAIGE	CHIEF ADMINISTRATIVE OFFICER	60.00	Officer	$440,160	$41,610	$481,770
MICHAEL VOGELER	CHIEF OPERATIONS OFFICER	60.00	Officer	$422,402	$64,176	$486,578
BRENT GIFFORD	CHIEF INFORMATION OFFICER	60.00	Officer	$392,203	$57,529	$449,732
ELIZABETH BARNES	CHIEF CREDIT ADMINISTRATION OFFICER	60.00	Officer	$295,235	$402,752	$697,987
DENNIS JANIKOWSKI	SVP LENDING	60.00	Key Emp	$281,914	$50,576	$332,490
PAUL MCCALL	SVP FINANCE	60.00	Key Emp	$237,847	$125,261	$363,108
VANESSA BROEMELING	SVP CULTURE	60.00	Key Emp	$206,060	$100,693	$306,753
ARLENE EARL	SVP RISK & COMPLIANCE	60.00	Key Emp	$200,840	$251,322	$452,162
CLINTON JOHNSON	VP DATA & ANALYTICS	40.00	Highest	$276,210	$137,505	$413,715
NATHANAEL NORMAN	VP INFORMATION SECURITY	40.00	Highest	$214,984	$109,777	$324,761
JENIFER PIPER	VP MEMBER ENGAGEMENT	40.00	Highest	$207,603	$20,690	$228,293
KARI MURILLO	VP PRODUCT MANAGEMENT	40.00	Highest	$190,232	$133,015	$323,247
WESLEY GOSSAGE	VP MORTGAGE LENDING	40.00	Highest	$182,851	$34,432	$217,283

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$149,606,550	$153,816,314	$2,114,556,930	$-4,209,764
2023	$137,633,569	$130,703,773	$2,198,335,162	$6,929,796
2022	$101,119,936	$88,932,937	$2,025,490,365	$12,186,999
2021	$87,422,599	$72,399,254	$1,982,476,028	$15,023,345
2020	$74,005,249	$65,799,077	$1,575,901,747	$8,206,172
2019	$59,487,386	$49,959,526	$1,262,893,936	$9,527,860