Central Willamette Credit Union

Albany, ORUnknown exempt organizationSince 1955EIN 93-0496543Revenue $36.8M in FY2024

On file with the IRScentralwcu.orgPo Box 1899 · Albany, OR

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To provide financial products and services to our membership.

Run by 14 volunteers and 125 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $4.9M a year · 18% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$2.4M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
28 mo
of spending, in cash
Looks good: 28.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$544.9M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$36.8M
+23% vs prior year
Spent
$33.8M
Net assets
$48.2M
By yearFY2020–FY2024
Revenue
$36.8M
FY2024▲ +23%
Tap a bar for its year
Revenue by fiscal year
FY2020$19.2M
FY2021$21.1M
FY2022$25.7M
FY2023$30.0M
FY2024$36.8M
Expenses
$33.8M
FY2024▲ +36%
Tap a bar for its year
Expenses by fiscal year
FY2020$15.5M
FY2021$15.5M
FY2022$18.8M
FY2023$24.9M
FY2024$33.8M
Net assets
$48.2M
FY2024▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$37.0M
FY2021$40.9M
FY2022$36.4M
FY2023$42.3M
FY2024$48.2M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

22 people listed on the 990; $2.4M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO & President
$458,962Pt VII · Sec A
$249,527Pt VII · Sec A
$221,808Pt VII · Sec A
$201,582Pt VII · Sec A
$201,225Pt VII · Sec A
Senior Project Manager
$165,333Pt VII · Sec A
$162,474Pt VII · Sec A
Information Security Officer
$158,245Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Stacie Wyss-Schoenborn$458,962$408,210$391,357$345,774$332,096
Dewayne Ledbetter$249,527$238,217$214,563$134,555—
Joey Rudisill$221,808$217,144$193,290$174,130$204,697
David Dirks$201,582$179,943———
Rachel Wolfe$201,225$200,189$187,185$170,615$169,113
Greg Bruns———$128,601$191,127
Dave Desemple$165,333$168,013$148,710——
Rebecca Bower$162,474————

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.

See Central Willamette Credit Union executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II3 listed

Programs and updates

Offers financial products and services to members.

Questions for Central Willamette Credit Union

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Central willamette credit union services 37,142 members of our community with diverse financial products and services. During the year we granted a total of 6,523 loans worth $136,636,098 to our members. We have a total loan portfolio of 20,025 loans worth $414,803,668.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$8K
Grants paid · 19 grants · $257K · 2022–2024
Albany Parks & RecreationFY2024$27,500
Boys & Girls Club of AlbanyOR · FY2024$7,250
District 24j Marion County OreFY2023$10,000
Boys & Girls Club of AlbanyOR · FY2023$6,000
Beaver Sports Properties LLCFY2022$18,270
Boys & Girls Club of AlbanyOR · FY2022$6,000
See all 19 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$36.8M
Ln 12
Fees for servicesLn 2g$30.1M
Investment incomeLn 3$4.5M
Other incomeLn 4–11$2.2M
Money outPt IX
$33.8M
Ln 25
Owns and owesPt X
$48.2M
net assets · Ln 32
Cash and savingsLn 1–2$79.4M
Total assetsLn 16$593.1M
LiabilitiesLn 26$544.9M
PeoplePt VI, VII
22
listed · VII A
PaidVII A12
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$30.1M
Investment incomeLn 3$4.5M
Other incomeLn 4–11$2.2M
Gains on assetsLn 7$66K
Total revenueLn 12$36.8M
Assets in detailPt X, end of year
CashLn 1$3.5M
SavingsLn 2$75.9M
Cash and savings togetherLn 1–2$79.4M
InvestmentsLn 11–13$58.9M
Land, buildings, equipmentLn 10c$10.8M
Other assetsLn 15$21.3M
Total assetsLn 16$593.1M
LiabilitiesLn 26$544.9M
Net assetsLn 32$48.2M
OperationsPt I, VI
EmployeesI 5125
VolunteersI 614
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$18.0M$79.4M
InvestmentsLn 11–13$76.6M$58.9M
Land, buildings, equipmentLn 10c$9.1M$10.8M
Total assetsLn 16$519.4M$593.1M
LiabilitiesLn 26$477.1M$544.9M
Net assetsLn 32$42.3M$48.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$114K
Pay of current officers, directors and key staffLn 5$1.7M
Other salaries and wagesLn 7$8.3M
Pension plan contributionsLn 8$251K
Other employee benefitsLn 9$1.1M
Payroll taxesLn 10$888K
Legal feesLn 11b$141K
Accounting feesLn 11c$121K
Other fees for servicesLn 11g$2.3M
Advertising and promotionLn 12$781K
Office expensesLn 13$909K
Information technologyLn 14$1.9M
OccupancyLn 16$914K
Conferences, conventions and meetingsLn 19$235K
InterestLn 20$7.3M
Depreciation, depletion and amortizationLn 22$1.2M
InsuranceLn 23$151K
Other expenses (24a–d)Ln 24$4.3M
All other expensesLn 24e$1.2M
Total functional expensesLn 25$33.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $36.8M$33.8M$3.0M$48.2M 990 PDF
FY2023 $30.0M$24.9M$5.0M$42.3M 990 PDF
FY2022 $25.7M$18.8M$6.9M$36.4M 990 PDF
FY2021 $21.1M$15.5M$5.6M$40.9M 990 PDF
FY2020 $19.2M$15.5M$3.8M$37.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $36,821,870 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $495,000$0
I-9 Program service revenuePrior year $26,612,271$30,093,534
I-10 Investment incomePrior year $1,663,626$4,480,240
I-11 Other revenuePrior year $1,184,536$2,248,096
I-12 Total revenuePrior year $29,955,433$36,821,870
I-13 Grants and similar amounts paidPrior year $74,893$114,488
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,464,867$12,226,256
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $14,390,412$21,455,786
I-18 Total expensesPrior year $24,930,172$33,796,530
I-19 Revenue less expensesPrior year $5,025,261$3,025,340
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $36,821,870 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $30,063,356 · Unrelated business $30,178$30,093,534
VIII-3 Investment incomeExcluded from tax $4,414,486$4,414,486
VIII-7 Net gain or loss on sales of assetsRelated to mission $65,754$65,754
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,128,638 · Unrelated business $119,458$2,248,096
VIII-12 Total revenueRelated to mission $32,257,748 · Unrelated business $149,636 · Excluded from tax $4,414,486$36,821,870
Part IX · Statement of functional expenses $33,796,530 across 19 lines filed
IX-1 Grants to domestic organizations$114,488
IX-5 Pay of current officers, directors and key staff$1,653,824
IX-7 Other salaries and wages$8,324,911
IX-8 Pension plan contributions$251,041
IX-9 Other employee benefits$1,108,762
IX-10 Payroll taxes$887,718
IX-11b Legal fees$140,922
IX-11c Accounting fees$120,813
IX-11g Other fees for services$2,269,901
IX-12 Advertising and promotion$780,552
IX-13 Office expenses$908,604
IX-14 Information technology$1,902,766
IX-16 Occupancy$914,056
IX-19 Conferences, conventions and meetings$234,649
IX-20 Interest$7,300,526
IX-22 Depreciation, depletion and amortization$1,216,593
IX-23 Insurance$150,675
IX-24 Other expenses (24a–d)$4,348,582
IX-24e All other expenses$1,167,147
IX-25 Total functional expenses$33,796,530
Part X · Balance sheet $593,071,859 assets, 13 lines filed
Asset lines not itemized here account for $12,465,081; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $7,505,874$3,465,684
X-2 Savings and temporary cash investmentsStart of year $10,459,014$75,930,517
X-4 Accounts receivableStart of year $385,031,463$410,176,659
X-10c Land, buildings and equipment, netStart of year $9,133,547$10,771,583
X-12 Other securitiesStart of year $76,580,744$58,914,788
X-15 Other assetsStart of year $18,589,022$21,347,547
X-16 Total assetsStart of year $519,423,795$593,071,859
X-17 Accounts payable and accrued expensesStart of year $9,059,813$9,227,001
X-24 Unsecured notes and loans payableStart of year $24,500,000$24,500,000
X-25 Other liabilitiesStart of year $443,431,159$511,003,886
X-26 Total liabilitiesStart of year $477,089,370$544,851,611
X-32 Total net assets or fund balancesStart of year $42,334,425$48,220,248
X-33 Total liabilities and net assetsStart of year $519,423,795$593,071,859
Part XI · Reconciliation of net assets $48,220,248 net assets at year end
XI-1 Total revenue$36,821,870
XI-2 Total expenses$33,796,530
XI-3 Revenue less expenses$3,025,340
XI-4 Net assets at start of year$42,334,425
XI-5 Net unrealized gains (losses) on investments$2,860,483
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$48,220,248

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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