CREDIT UNIONS IN THE STATE OF WASHINGTON TAPCO CREDIT UNION

EIN: 910176216

Tacoma, WA

Total Revenue
$42,381,586
Total Expenses
$35,150,569
Total Assets
$697,602,234
Net Assets
$65,401,116
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Financial Trends

Organization Details

Formation Year
1934
Legal Domicile
WA
Principal Officer
Justin Martin
Phone
2536203241
Tax Period
2025-01-01 to 2025-12-31

CREDIT UNIONS IN THE STATE OF WASHINGTON TAPCO CREDIT UNION, founded in 1934, is a mid-sized nonprofit that reported $42.4M in total revenue in fiscal year 2025. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $7.2M, a strong 17% operating margin.

Mission

WE ARE A FINANCIAL COOPERATIVE COMMITTED TO IMPROVING LIVES BY PARTNERING WITH FAMILIES TO REACH THEIR GOALS AND IMPACTING OUR COMMUNITY BY HELPING INDIVIDUALS REALIZE THEIR FULL POTENTIAL. WE VALUE TRUST AND UNDERSTANDING AND RESPECT FOR OURSELVES AND OTHERS.

Program Service Accomplishments

Program 1
Expenses: $10,453,367 Revenue: $7,251,262

Provides financial products and services to over 31,599 members including more than 21,400 consumer real estate and business loans and over 59,000 deposit accounts. Services offered include online...

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Provides financial products and services to over 31,599 members including more than 21,400 consumer real estate and business loans and over 59,000 deposit accounts. Services offered include online and mobile banking with bill pay and remote deposit branches ATMs safe deposit boxes shared branching ACH and wires.

Program 2
Expenses: $0 Revenue: $0

TAPCO has been a part of the Tacoma-Pierce County community for 92 years. We continue to focus on our tagline Rooted in South Sound, which embodies our vision mission and values emphasizing our...

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TAPCO has been a part of the Tacoma-Pierce County community for 92 years. We continue to focus on our tagline Rooted in South Sound, which embodies our vision mission and values emphasizing our commitment to the credit union philosophy of people helping people. In 2025 our staff board supervisory committee members and membership dedicated their time and money to support local community programs and events. Through these events over 133,737 was donated and 25,000 was granted in scholarships.

Program 3
Expenses: $0 Revenue: $31,553,377

We continued to increase member loans significantly. TAPCOs loan portfolio is distributed across many loan types including over 176 million in mortgages and equity loans over 249 million in auto...

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We continued to increase member loans significantly. TAPCOs loan portfolio is distributed across many loan types including over 176 million in mortgages and equity loans over 249 million in auto loans and over 102 million in commercial loans. TAPCO Peak Member Rewards Program recognizes members financial relationship with TAPCO and offers better rates and free services. Reward benefits may apply to all family members living in the same household by linking family memberships your high school and college student or other family. We continued to look for ways to better serve our members near where they live and work.

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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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $38,804,639
Investment Income $3,545,672
Other Revenue $31,275
TOTAL REVENUE $42,381,586

Expense Breakdown

Grants Paid $25,000
Salaries & Benefits $12,222,992
Fundraising Expenses $0
Program Expenses $10,453,367
Other Expenses $12,449,210
TOTAL EXPENSES $35,150,569

Year-over-Year Comparison

2025 2024 Change
Revenue $42,381,586 $37,771,029 +0.1%
Expenses $35,150,569 $34,370,784 +0.0%
Net Income $7,231,017 $3,400,245 +1.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
130
Volunteers
13

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
$2,133,248
Total Directors
14
$13,228
Key Employees
1
$121,669
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Justin Martin CEO 40.00
Officer
$658,164 $31,195 $689,359
William Peters CXO 40.00
Officer
$320,844 $12,877 $333,721
Sarah Gray CPIO 40.00
Officer
$273,808 $16,539 $290,347
Kathleen Scholes CFO 40.00
Officer
$265,261 $17,378 $282,639
Jason Allen CIO 40.00
Officer
$252,426 $19,883 $272,309
Jeremy Mandery CRLO 40.00
Officer
$242,316 $16,680 $258,996
Mitch Jackson VPCL 40.00
Highest
$155,811 $7,077 $162,888
Richard Stirgus VPCR 40.00
Highest
$136,351 $19,318 $155,669
Dawn Foutz BODGL 40.00
Highest
$123,242 $10,902 $134,144
Terri LaCoy DOF 40.00
Highest
$122,074 $8,259 $130,333
John Gaythorpe DIRITOI 40.00
Highest
$121,276 $8,165 $129,441
Heather Fate VPME 40.00
Key Emp
$116,780 $4,889 $121,669
Bruce Baurichter Board V-Chair 2.00
Officer Director
$3,481 $0 $3,481
Pat McElligot Board Secretary 2.00
Officer Director
$2,396 $0 $2,396
John O'Laughlin Supervisory Committee 1.00
Director
$1,437 $0 $1,437
Brent Bomkamp Supervisory Committee 1.00
Director
$1,274 $0 $1,274
Julie Williams Supervisory Committee 1.00
Director
$1,243 $0 $1,243
John Sinclair Supervisory Committee 1.00
Director
$1,148 $0 $1,148
Lindsey Wade Board Member 1.00
Director
$992 $0 $992
Gene Miller Board Member 1.00
Director
$797 $0 $797
Alex Wilsie Board Member 1.00
Director
$460 $0 $460
Dawn Masko Board Member 1.00
Director
$0 $0 $0
Clara Nelson Board Chair 2.00
Officer Director
$0 $0 $0
Patricia Bosmans Board Member 1.00
Director
$0 $0 $0
Louis Cooper Jr Board Member 1.00
Director
$0 $0 $0
John Cheeseman Supervisory Committee 1.00
Director
$0 $0 $0
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
2025 $42,381,586 $35,150,569 $697,602,234 $7,231,017
2024 No data No data No data No data
2023 $32,250,371 $27,949,874 $653,069,678 $4,300,497
2022 $26,389,919 $19,727,776 $646,595,896 $6,662,143
2021 $20,285,695 $17,256,490 $574,292,386 $3,029,205
2020 $19,089,269 $16,619,257 $496,515,001 $2,470,012
2019 $19,621,065 $15,846,289 $394,852,832 $3,774,776
2018 $19,064,995 $15,481,875 $374,229,032 $3,583,120
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