Civic Intelligence

Verity Credit Union

990 • Fiscal year 2012 • EIN 91-0219005

Jan 01, 2012 to Dec 31, 2012 • Filed on Oct 28, 2013

Organization ProfileWWW.VERITYCU.COM

View Organization Page

11027 Meridian Avenue North98133
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.91x

Higher debt load relative to assets than 77% of similar nonprofits.

2012 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

29th percentile

3.5%

Faster asset growth than 29% of similar nonprofits.

2012 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$396,732,179

Up $13,283,719 (+3.5%) from 2011

Net Assets

Up

$33,993,954

Up $6,176,536 (+22%) from 2011

Liabilities

Up

$362,738,225

Up $7,107,183 (+2.0%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$22,811,787

Down $3,903,214 (-15%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0B$500M$0Assets 2010: $366,726,691Liabilities 2010: $336,606,099Net Assets 2010: $30,120,5922010Assets 2011: $383,448,460Liabilities 2011: $355,631,042Net Assets 2011: $27,817,4182011Assets 2012: $396,732,179Liabilities 2012: $362,738,225Net Assets 2012: $33,993,9542012Assets 2013: $427,238,627Liabilities 2013: $390,598,762Net Assets 2013: $36,639,8652013Assets 2014: $444,186,282Liabilities 2014: $403,214,185Net Assets 2014: $40,972,0972014Assets 2015: $480,799,813Liabilities 2015: $437,223,089Net Assets 2015: $43,576,7242015Assets 2016: $505,269,501Liabilities 2016: $460,801,657Net Assets 2016: $44,467,8442016Assets 2017: $530,157,055Liabilities 2017: $483,146,996Net Assets 2017: $47,010,0592017Assets 2018: $586,322,977Liabilities 2018: $535,916,101Net Assets 2018: $50,406,8762018Assets 2019: $632,831,218Liabilities 2019: $576,822,353Net Assets 2019: $56,008,8652019Assets 2020: $692,415,165Liabilities 2020: $632,921,587Net Assets 2020: $59,493,5782020Assets 2021: $786,265,441Liabilities 2021: $720,037,204Net Assets 2021: $66,228,2372021Assets 2022: $865,179,017Liabilities 2022: $793,586,208Net Assets 2022: $71,592,8092022Assets 2023: $840,507,603Liabilities 2023: $761,932,770Net Assets 2023: $78,574,8332023Assets 2024: $771,402,594Liabilities 2024: $699,545,795Net Assets 2024: $71,856,7992024

Highlighted filing

2012

Assets$396,732,179
Liabilities$362,738,225
Net Assets$33,993,954
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0Expenses 2010: $24,258,7342010Expenses 2011: $26,715,0012011Expenses 2012: $22,811,7872012Revenue 2013: $27,535,849Expenses 2013: $22,200,594Net Income 2013: $5,335,2552013Revenue 2014: $22,946,556Expenses 2014: $19,855,502Net Income 2014: $3,091,0542014Revenue 2015: $23,211,269Expenses 2015: $20,252,523Net Income 2015: $2,958,7462015Revenue 2016: $24,864,769Expenses 2016: $23,502,904Net Income 2016: $1,361,8652016Revenue 2017: $26,237,468Expenses 2017: $23,698,398Net Income 2017: $2,539,0702017Revenue 2018: $30,676,718Expenses 2018: $26,867,176Net Income 2018: $3,809,5422018Revenue 2019: $35,340,037Expenses 2019: $31,432,617Net Income 2019: $3,907,4202019Revenue 2020: $32,916,475Expenses 2020: $31,338,323Net Income 2020: $1,578,1522020Revenue 2021: $35,849,734Expenses 2021: $28,147,812Net Income 2021: $7,701,9222021Revenue 2022: $38,343,946Expenses 2022: $30,623,047Net Income 2022: $7,720,8992022Revenue 2023: $45,304,618Expenses 2023: $45,018,854Net Income 2023: $285,7642023Revenue 2024: $48,232,886Expenses 2024: $47,200,102Net Income 2024: $1,032,7842024

Highlighted filing

2012

Revenue-
Expenses$22,811,787
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Oct 28, 2013
Return Version
2012v2.1
Gross Receipts
$31,078,609
Mission and Program Overview

Mission

A cooperative, organized for the purpose of promoting thrift and savings among its members, creating a source of credit for them at rates of interest set by the board of directors, and providing an opportunity for them to use and control their own money on a democratic basis in order to improve their economic and social conditions. As a cooperative, verity credit union conducts its business for the mutual benefit and general welfare of its members with the earnings, savings, benefits, or services of the credit union being distributed to its members as patrons.

Major Activities

Activity 2
Verity credit union offers a full-service investment program with two registered investment representatives and a licensed support representative. As of december 31, 2012, verity's investment services program had 872 members who have 1,868 accounts and $67,220,336 in assets under management.
Activity 3
Verity credit union offers free financial counseling to its members. Specific services offered include financial planning, debt modification on verity loans and other creditors and direct assistance in utilizing the government sponsored mortgage relief programs.
Filing and Contact Details

Filer

EIN
91-0219005
Raw XML AppendixShowing 400 of 684 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Description0VERITY CREDIT UNION IS A WASHINGTON STATE CHARTERED CREDIT UNION THAT SERVES 26,020 MEMBER-OWNERS. VERITY'S PRIMARY FIELD OF MEMBERSHIP INCLUDES ALL INDIVIDUALS THAT RESIDE, WORK, WORSHIP OR ATTEND SCHOOL IN ANY WASHINGTON STATE SCHOOL DISTRICT. VERITY OFFERS A FULL RANGE OF DEPOSIT, LOAN AND INVESTMENT PRODUCTS AND SERVICES AND OPERATES SIX FULL SERVICE BRANCHES, A CALL CENTER AND ONLINE ACCOUNT SERVICES.
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IRS990/MissionDescription0A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, VERITY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.
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IRS990/NetAssetsOrFundBalancesBOY027817418
IRS990/NetAssetsOrFundBalancesEOY033993954
IRS990/NetGainOrLossInvestments/RelatedOrExemptFunctionIncome0-58900
IRS990/NetGainOrLossInvestments/TotalRevenueColumn0-58900
IRS990/NetRentalIncomeOrLoss/ExclusionAmount0350659
IRS990/NetRentalIncomeOrLoss/TotalRevenueColumn0350659
IRS990/NetUnrelatedBusinessTxblIncome00
IRS990/NonDeductibleContributions00
IRS990/NumberFormsTransmittedWith1096014686
IRS990/NumberIndependentVotingMembers09
IRS990/NumberIndividualsGT100K010
IRS990/NumberOfContractorsGT100K08
IRS990/NumberOfEmployees0153
IRS990/NumberW2GIncluded00
IRS990/Occupancy/Total0702025
IRS990/OfficeExpenses/Total02407520
IRS990/OfficerEntityWithBsnssRltnshp00
IRS990/OfficerMailingAddress00
IRS990/Organization501c0X
IRS990/OtherAssetsTotal/BOY07133896
IRS990/OtherAssetsTotal/EOY06477884
IRS990/OtherEmployeeBenefits/Total01092100
IRS990/OtherExpensePriorYear019629386
IRS990/OtherExpensesCurrentYear014365037
IRS990/OtherExpenses/Description0PROV. LOAN/LEASE LOSS
IRS990/OtherExpenses/Description1NCUSIF STABIL. EXP
IRS990/OtherExpenses/Total02604782
IRS990/OtherExpenses/Total1304712
IRS990/OtherLiabilities/BOY0349232122
IRS990/OtherLiabilities/EOY0357037588
IRS990/OtherRevenueCurrentYear03959431
IRS990/OtherRevenueMisc/BusinessCode0522100
IRS990/OtherRevenueMisc/Description0SALE OF LOANS
IRS990/OtherRevenueMisc/RelatedOrExemptFunctionIncome01872629
IRS990/OtherRevenueMisc/TotalRevenueColumn03608772
IRS990/OtherRevenueMisc/UnrelatedBusinessRevenue01736143
IRS990/OtherRevenuePriorYear01655578
IRS990/OtherSalariesAndWages/Total04961912
IRS990/PaidInCapSrplsLandBldgEqpFund/BOY00
IRS990/PaidInCapSrplsLandBldgEqpFund/EOY00
IRS990/PartialLiquidation00
IRS990/PayrollTaxes/Total0568566
IRS990/PensionPlanContributions/Total0324180
IRS990/PoliciesReferenceChapters01
IRS990/PoliticalActivities00
IRS990/PrepaidExpensesDeferredCharges/BOY0463254
IRS990/PrepaidExpensesDeferredCharges/EOY0606091
IRS990/ProfessionalFundraising00
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IRS990/ProgramServiceRevenue/BusinessCode1522100
IRS990/ProgramServiceRevenue/BusinessCode2522100
IRS990/ProgramServiceRevenueCY021960302
IRS990/ProgramServiceRevenue/Description0INTEREST ON LOANS
IRS990/ProgramServiceRevenue/Description1FEE INCOME
IRS990/ProgramServiceRevenue/Description2OTHER
IRS990/ProgramServiceRevenuePriorYear020720569
IRS990/ProgramServiceRevenue/RelatedOrExemptFunctionIncome015265325
IRS990/ProgramServiceRevenue/RelatedOrExemptFunctionIncome14168558
IRS990/ProgramServiceRevenue/RelatedOrExemptFunctionIncome2853459
IRS990/ProgramServiceRevenue/TotalRevenueColumn015265325
IRS990/ProgramServiceRevenue/TotalRevenueColumn14168558
IRS990/ProgramServiceRevenue/TotalRevenueColumn22526419
IRS990/ProgramServiceRevenue/UnrelatedBusinessRevenue01672960
IRS990/ProhibitedTaxShelterTrans00
IRS990/QuidProQuoContributions00
IRS990/ReconcilationOtherChanges01580853
IRS990/ReconcilationRevenueExpenses04595683
IRS990/RegularMonitoringEnforcement01
IRS990/RelatedEntity00
IRS990/RelatedOrgControlledEntity00
IRS990/RentalIncomeOrLoss/Real0350659
IRS990/ReportFin48Footnote01
IRS990/ReportInvestOthSecurities00
IRS990/ReportLandBldgEquip01
IRS990/ReportOtherAssets00
IRS990/ReportOtherLiabilities01
IRS990/ReportProgRelInvest01
IRS990/RetainedEarningsEndowmentEtc/BOY027817418
IRS990/RetainedEarningsEndowmentEtc/EOY033993954
IRS990/RevenuesLessExpensesCY04595683
IRS990/RevenuesLessExpensesPriorYear0-2596139
IRS990/SalariesEtcCurrentYear08446750
IRS990/SalariesEtcPriorYear07085615
IRS990/SavingsAndTempCashInvestments/BOY020118591
IRS990/SavingsAndTempCashInvestments/EOY014980741
IRS990/ScheduleBRequired00
IRS990ScheduleD/Buildings/BookValue04754940
IRS990ScheduleD/Buildings/Depreciation02803242
IRS990ScheduleD/Buildings/OtherCostOrOtherBasis07558182
IRS990ScheduleD/Equipment/BookValue0758614

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$396,732,179
Liabilities
$362,738,225
Net assets
$33,993,954
Revenue
-
Expenses
$22,811,787
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$771$700$71.9$48.2$47.2$1.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$841$762$78.6$45.3$45.0$0.29
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$865$794$71.6$38.3$30.6$7.72
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$786$720$66.2$35.8$28.1$7.70
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$692$633$59.5$32.9$31.3$1.58
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$633$577$56.0$35.3$31.4$3.91
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$586$536$50.4$30.7$26.9$3.81
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$530$483$47.0$26.2$23.7$2.54
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$505$461$44.5$24.9$23.5$1.36
2015Detailed filing. Detailed filing data is available for this year.$481$437$43.6$23.2$20.3$2.96
2014Detailed filing. Detailed filing data is available for this year.$444$403$41.0$22.9$19.9$3.09
2013Detailed filing. Detailed filing data is available for this year.$427$391$36.6$27.5$22.2$5.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$397$363$34.0$22.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$383$356$27.8$26.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$367$337$30.1$24.3
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2012 filings • 501(c)14 • $250M-$1B nonprofits