CREDIT UNIONS IN THE STATE OF WASHINGTON

EIN: 910581775

BELLINGHAM, WA

Total Revenue
$19,478,425
Total Expenses
$13,866,159
Total Assets
$353,845,891
Net Assets
$350,709,643
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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
1939
Legal Domicile
WA
Phone
3606854077
Tax Period
2023-01-01 to 2023-12-31

CREDIT UNIONS IN THE STATE OF WASHINGTON, founded in 1939, is a mid-sized nonprofit that reported $19.5M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $5.6M, a strong 29% operating margin.

Mission

Setting the standards in the financial products we offer the personal services we provide and our support for the communities we serve.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $14,666,645
Investment Income $3,622,965
Other Revenue $1,188,815
TOTAL REVENUE $19,478,425

Expense Breakdown

Grants Paid $0
Salaries & Benefits $6,271,613
Fundraising Expenses $0
Program Expenses $0
Other Expenses $7,594,546
TOTAL EXPENSES $13,866,159

Year-over-Year Comparison

2023 2022 Change
Revenue $19,478,425 $16,324,451 +0.2%
Expenses $13,866,159 $11,279,160 +0.2%
Net Income $5,612,266 $5,045,291 +0.1%
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

Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
8
Independent Members
8
Employees
70
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
5
$995,237
Total Directors
8
$0
Key Employees
4
$616,933
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Marilyn Brink President CEO 40.00
Officer
$283,897 $41,793 $325,690
Julia Parker VP Member Business Loans 40.00
Officer
$120,554 $25,633 $146,187
Mark Favro VP of IT 40.00
Key Emp
$168,677 $22,177 $190,854
Dale Holt VP - CLO Business Lending 40.00
Officer
$136,488 $45,606 $182,094
Rhonda Purdy VP of HR 40.00
Key Emp
$129,472 $22,659 $152,131
Christian Janguard VP - CLO RE Consumer Loans 40.00
Officer
$147,712 $27,343 $175,055
AC Griffith CFO 40.00
Officer
$145,319 $20,892 $166,211
Jill Babbit VP Ops Member Services 40.00
Key Emp
$112,563 $24,832 $137,395
Rachael Sylte VP of Marketing 40.00
Key Emp
$114,204 $22,349 $136,553
Philip Serka Board Chair 5.00
Director
$0 $0 $0
Jair Furnas Vice Chair 5.00
Director
$0 $0 $0
Derek Barnes Director 5.00
Director
$0 $0 $0
Richard Succee Director 5.00
Director
$0 $0 $0
Randy Watts Director 5.00
Director
$0 $0 $0
Gregory Lagestee Director 5.00
Director
$0 $0 $0
Gerzon Marin Secretary 5.00
Director
$0 $0 $0
Shelley Acero Director 5.00
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
2024 No data No data No data No data
2023 $19,478,425 $13,866,159 $353,845,891 $5,612,266
2022 $16,324,451 $11,279,160 $373,068,056 $5,045,291
2021 $12,197,352 $10,225,592 $379,769,731 $1,971,760
2020 $12,495,765 $10,838,161 $322,628,616 $1,657,604
2019 $13,539,163 $10,139,238 $269,355,626 $3,399,925
2018 $12,193,923 $9,030,674 $255,364,165 $3,163,249
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