Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1954.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
24 people listed on the 990; $4.2M paid to officers and key staff.
Jennifer Kutcher’s $937K as President & CEO is at the 100th percentile of top reported officer pay among 61 <$100K public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Jennifer Kutcher | $936,965 | $884,765 | $836,637 | — | — | — |
| Jennifer E Kutcher | — | — | — | $750,217 | $711,876 | $697,277 |
| Jeffrey Dykstra - Chief | $663,150 | — | — | — | — | — |
| Jack Ingram | $504,264 | $453,215 | $427,450 | $379,831 | $345,261 | $320,375 |
| Jeffrey Dykstra | — | $451,454 | $420,899 | — | — | — |
| Nicholas Hodson | $415,647 | $383,666 | $350,972 | — | — | — |
| Jeffrey R Dykstra | — | — | — | $392,577 | $365,437 | $340,988 |
| Cynthia Chase Klein | $367,550 | $332,953 | $315,903 | $289,640 | $285,135 | $256,701 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Improves members' lives through meaningful support and resources.
Questions for Whatcom Educational Credit Union
Your first name shows with your question. Whatcom Educational Credit Union answers here, for everyone.
Know this org? Add your story
Loan portfolio (credit cards, auto, personal and other types):loans to members increased by 17.93%, or $294.7 million from 2021 to 2022. Lending was strong, with record-setting months culminating into another record setting year. Wecu originated $791.75 million in 2022.
Deposits and Liquidity
Deposits decreased by .73%, or $15.65 million from 2021 to 2022. Deposits will continue to be a focus. Management recognizes that some deposit outflow is not directly tied to market competition and is a result of a changing financial picture for many of our members and is preparing various liquidity tools in the event deposit declines…
Community Involvement
While technically not a chartered service, wecu is committed to community service and provides support to a large number of local educational, health and community concerns. In 2022, helping members and the community at large through the continued pandemic was still a primary focus.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $714.7M | $325.2M |
| InvestmentsLn 11–13 | $72.5M | $176.4M |
| Land, buildings, equipmentLn 10c | $32.6M | $32.8M |
| Total assetsLn 16 | $2.49B | $2.51B |
| LiabilitiesLn 26 | $2.20B | $2.19B |
| Net assetsLn 32 | $295.3M | $316.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $228K | |||
| Grants to domestic individualsLn 2 | $26K | |||
| Benefits paid to or for membersLn 4 | $4.4M | |||
| Pay of current officers, directors and key staffLn 5 | $4.0M | |||
| Other salaries and wagesLn 7 | $25.8M | |||
| Pension plan contributionsLn 8 | $1.8M | |||
| Other employee benefitsLn 9 | $3.0M | |||
| Payroll taxesLn 10 | $2.4M | |||
| Legal feesLn 11b | $89K | |||
| Accounting feesLn 11c | $233K | |||
| Lobbying feesLn 11d | $33K | |||
| Other fees for servicesLn 11g | $1.6M | |||
| Advertising and promotionLn 12 | $1.0M | |||
| Office expensesLn 13 | $2.6M | |||
| Information technologyLn 14 | $6.0M | |||
| OccupancyLn 16 | $2.6M | |||
| TravelLn 17 | $211K | |||
| Conferences, conventions and meetingsLn 19 | $300K | |||
| InterestLn 20 | $1.6M | |||
| Depreciation, depletion and amortizationLn 22 | $2.5M | |||
| InsuranceLn 23 | $5K | |||
| Other expenses (24a–d)Ln 24 | $11.2M | |||
| All other expensesLn 24e | −$3.2M | |||
| Total functional expensesLn 25 | $68.5M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $184.5M | $172.2M | $12.3M | $366.5M | 990 PDF |
| FY2024 | $166.5M | $154.3M | $12.2M | $349.6M | 990 PDF |
| FY2023 | $138.1M | $119.3M | $18.8M | $336.0M | 990 PDF |
| FY2022 Viewing | $98.7M | $68.5M | $30.2M | $316.9M | 990 PDF |
| FY2021 | $85.7M | $64.1M | $21.7M | $295.3M | 990 PDF |
| FY2020 | $85.9M | $71.0M | $14.9M | $274.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $98,737,059 revenue, 12 lines filed
Part VI · Governance 9 of 9 board members independent, 1 to look at
Part VIII · Statement of revenue $98,737,059 across 6 lines filed
Part IX · Statement of functional expenses $68,523,716 across 23 lines filed
Part X · Balance sheet $2,507,427,609 assets, 13 lines filed
Part XI · Reconciliation of net assets $316,888,608 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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