Spokane Teachers Credit Union

Organization Overview

Spokane Teachers Credit Union is located in Liberty Lake, WA. The organization was established in 1954. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Spokane Teachers Credit Union employed 1,019 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Spokane Teachers Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Spokane Teachers Credit Union generated $204.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $145.8m during the year ending 12/2021. While expenses have increased by 9.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

STCU IS COMMITTED TO MAXIMIZING THE VALUE OF EVERY FINANCIAL RELATIONSHIP THROUGH COST-EFFECTIVE FINANCIAL SERVICES CONSISTENT WITH COOPERATIVE PRINCIPLES, APPLICABLE LEGISLATION, AND PRUDENT MANAGEMENT. STCU SERVES 246,311 MEMBERS AS OF 12/31/21.

Describe the Organization's Program Activity:

Part 3 - Line 4a

STCU HAS OUTSTANDING LOANS OF $3,834,790,212 AT DECEMBER 31, 2021, REPRESENTING 150,165 INDIVIDUAL LOANS. STCU OFFERS CREDIT CARDS; AUTO, RV, AND BOAT LOANS; 1ST MORTGAGE REAL ESTATE LOANS, OTHER REAL ESTATE LOANS AND LINES OF CREDIT; AND COMMERCIAL LOANS. REVENUES FROM LOAN ACTIVITIES INCLUDE INTEREST INCOME EARNED, AS WELL AS LOAN ORIGINATION AND SERVICING FEES.


STCU PROVIDES SHARE AND DEPOSIT PRODUCTS, INCLUDING CHECKING, SAVINGS, MONEY MARKET, CERTIFICATES, AND IRA/KEOGH ACCOUNTS. AT DECEMBER 31, 2021, STCU HAD TOTAL SHARE AND DEPOSIT BALANCES OF $4,318,062,387 REPRESENTING 390,457 INDIVIDUAL ACCOUNTS. STCU PAID MEMBERS DIVIDENDS ON THEIR SHARE AND DEPOSIT ACCOUNTS $15,877,385 IN 2021. STCU EARNS VARIOUS FEES ON TRANSACTIONS, BALANCES OR OTHER FINANCIAL PRODUCTS AS OUTLINED IN THE MEMBERSHIP AGREEMENT OR PUBLISHED FEE SCHEDULES.


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Board, Officers & Key Employees

Name (title)Compensation
Ezra Eckhardt
President And CEO
$976,440
Lindsey Myhre
CFO
$479,025
Patricia Baughman
Cdo
$462,937
David Flood
Clo
$353,578
Patricia Kelly
Senior Vice President
$297,626
Tammy Fleiger
Senior Vice President
$293,491

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Michael A Smith
Real Estate Appraisal
$147,590
Colormatics Llc
Advertising Video Production
$120,819
Dee's Landscaping & Lawn Service Llc
Landscaping Services
$364,307
Paine Hamblen Llp
Legal And Collection Services
$168,750
Smart Source Critial Communications Llc
Printing And Mailing
$2,207,181
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$73,273
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$73,273
Total Program Service Revenue$188,803,398
Investment income $8,755,278
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $176,452
Net Gain/Loss on Asset Sales $7,092,047
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $204,900,448

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