Credit Unions in the State of Washington

“Director Roger Smith is related to key employee Casey Smith.”

“The organization is a state-chartered credit union with a field of membership consisting of people involved in or related to the timber industry, including people and businesses who obtain insurance through the WCLA Insurance Agency, Inc. The membership was also expanded to include several state-chartered credit unions across the country and all federally-chartered credit unions and by extension the employees of those credit unions.”

“All of the credit union's members have the opportunity to elect the governing body of the credit union for a specific term at the credit union's annual meeting.”

“All of the credit union's members have the ability to approve elections for a specific term and dismissal, if applicable, of the governing body of the credit union at the credit union's annual or any special membership meeting(s).”

“The IRS 990 is compiled by the credit union's VP of Operations and then given to the President/CEO for extensive review prior to filing. It is available upon request to other members of the governing body.”

“The credit union's Board of Directors and Supervisory Committee are required annually to be trained on and to sign the organization's Conflict of Interest Polic. Restrictions are in place and activity is monitored throughout the year to determine if any such conflict arises.”

“The process for determining change in compensation for the credit union's President/CEO is performed annually. The board members/compensation committee members discuss, independently of the officer(s), a suggested and approved compensation. As of December 31, 2024, the process was last utilized in January 2024 for determining compensation.”

“The credit union's governing documents, conflict of interest policy and financial statements are available upon request (annual report is available on the CU's website). Most other policies and procedures are not gernally made available to the public.”