Nonprofit · EIN 91-0219005
CREDIT UNIONS IN THE STATE OF WASHINGTON
Also known as VERITY CREDIT UNION
Tax-exempt · SEATTLE, WA 98133
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $48,232,886 | $47,200,102 | $1,032,784 | $771,402,594 | $699,545,795 | $71,856,799 |
| December 31, 2023 | 990 (amended) | $45,931,618 | $45,645,854 | $285,764 | $829,447,323 | $758,958,588 | $70,488,735 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $40,359,347
- Investment income
- $7,597,599
- Net rental income
- $275,940
- Net gain from sales of assets
- $4,265,445
- Other revenue
- $275,940
Expenses
- Grants and similar amounts paid
- $185,486
- Compensation of officers, directors and key employees
- $2,017,515
- Other salaries and wages
- $9,666,453
- Salaries, compensation and benefits (total)
- $13,935,650
- Professional fundraising fees
- $0
- Legal fees
- $436,929
- Accounting fees
- $344,615
- Occupancy
- $1,386,018
- Travel
- $50,662
- Depreciation
- $745,618
Balance sheet and other
- Total assets, start of year
- $829,447,323
- Total assets, end of year
- $771,402,594
- Total liabilities, end of year
- $699,545,795
- Net assets, end of year
- $71,856,799
- Land, buildings and equipment
- $5,336,129
- Publicly traded securities
- $15,181,373
- Gross unrelated business income
- $328,539
- Gross receipts
- $48,325,423
- Employees
- 176
- Volunteers
- 11
- Year formed
- 1933
- State of legal domicile
- WA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TONITA WEBB | PRESIDENT - CEO Officer | 40 | $579,850 | $34,074 |
| BRAD TANBERG | CHIEF FINANCIAL OFFICER (THRU 12/24) Officer | 40 | $316,281 | $28,444 |
| KEN BUTLER | DIRECTOR OF INVESTMENT SERVICES Highest-paid employee | 40 | $274,167 | $23,193 |
| ALMA GRANIC | CHIEF RISK OFFICER Key employee | 40 | $267,774 | $26,889 |
| TINA NARRON | CHIEF LENDING OFFICER (THRU 9/24) Key employee | 40 | $264,612 | $18,178 |
| ZIQUORA BANKS | CHIEF IMPACT STRATEGY OFFICER Key employee | 40 | $225,684 | $19,579 |
| JOSH SIDELL | CHIEF EXPERIENCE OFFICER Key employee | 40 | $224,765 | $11,383 |
| BRENT RICHINS | VICE PRESIDENT OF OPERATIONS Highest-paid employee | 40 | $192,121 | $23,136 |
| JAVIER D'AGUSTINI | CONTROLLER Highest-paid employee | 40 | $182,498 | $22,550 |
| DALE MORRIS | VICE PRESIDENT OF RETAIL OPERATIONS Highest-paid employee | 40 | $179,150 | $15,274 |
| PIERJEA LYON | DIRECTOR OF HR Highest-paid employee | 40 | $170,777 | $23,581 |
| WILL COLLINS | CHAIR PERSON Trustee or director, Officer | 5 | $0 | $0 |
| MICHELLE PHAM | VICE CHAIRPERSON Trustee or director, Officer | 5 | $0 | $0 |
| NICHOLAS ETSCHEID | BOARD SECRETARY Trustee or director, Officer | 5 | $0 | $0 |
| DARIUS CHEHRZAD | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VIKASH CHHAGAN | BOARD MEMBER Trustee or director | 5 | $0 |
| TOM HOLZ | BOARD MEMBER Trustee or director | 5 | $0 |
| ALEX JOHNSON | BOARD MEMBER Trustee or director | 5 | $0 |
| CHAD KLEMME | BOARD MEMBER Trustee or director | 5 | $0 |
| WELEY NGUYEN | BOARD MEMBER Trustee or director | 5 | $0 |
| NANCY WOODLAND | BOARD MEMBER (THRU 2/24) Trustee or director | 5 | $0 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TONITA WEBB | PRESIDENT - CEO Officer | 40 | $585,855 | $29,793 |
| BRAD TANBERG | CHIEF FINANCIAL OFFICER Officer | 40 | $330,565 | $26,241 |
| TINA NARRON | CHIEF LENDING OFFICER Key employee | 40 | $249,419 | $21,608 |
| JASON HIRL | CHIEF TECHNOLOGY OFFICER Key employee | 40 | $243,382 | $21,403 |
| ALMA GRANIC | CHIEF RISK OFFICER Key employee | 40 | $232,846 | $23,631 |
| KEN BUTLER | DIRECTOR OF INVESTMENT SERVICES Highest-paid employee | 40 | $232,076 | $20,228 |
| ZIQUORA BANKS | CHIEF IMPACT STRATEGY OFFICER Key employee | 40 | $213,072 | $17,811 |
| JOSH SIDELL | CHIEF EXPERIENCE OFFICER Key employee | 40 | $213,073 | $10,638 |
| JOHN BENNER | DIRECTOR OF SMALL BUSINESS Highest-paid employee | 40 | $187,000 | $18,020 |
| GREG VERMILION | DIRECTOR OF IT Highest-paid employee | 40 | $175,302 | $22,123 |
| JAVIER D'AGUSTINI | CONTROLLER Highest-paid employee | 40 | $164,114 | $19,507 |
| PAUL MCJANNET | DIRECTOR OF E-COMMERCE Highest-paid employee | 40 | $158,252 | $15,130 |
| ANGELA LOWE | CHIEF HUMAN RESOURCE (THRU 1/23) Key employee | 40 | $161,826 | $5,464 |
| WILL COLLINS | CHAIRPERSON Trustee or director, Officer | 5 | $0 | $0 |
| MICHELLE PHAM | VICE CHAIRPERSON Trustee or director, Officer | 5 | $0 | $0 |
| NICHOLAS ETSCHEID | BOARD SECRETARY Trustee or director, Officer | 5 | $0 | $0 |
| VIKASH CHHAGAN | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| CHAD KLEMME | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| PELIN MUHARREMOGLU | BOARD MEMBER (THRU 12/23) Trustee or director | 5 | $0 | $0 |
| DARIUS CHEHRZAD | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| TOM HOLZ | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| ALEX JOHNSON | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| WELEY NGUYEN | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| NANCY WOODLAND | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 11027 MERIDIAN AVE N STE 200, SEATTLE, WA 98133-1705
- Principal officer (990 for 2024)
- TONITA WEBB, 11027 MERIDIAN AVENUE NORTH, SEATTLE, WA 98133
- Signed the 990
- JAVIER D'AGUSTINI, CONTROLLER
- Phone
- (800) 444-4589
- Website
- WWW.VERITYCU.COM
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
Mission
SEE SCHEDULE OA 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.
Program accomplishments
- VERITY CREDIT UNION IS A WASHINGTON STATE CHARTERED CREDIT UNION THAT SERVES 36,530 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 THROUGH SIX FULL BRANCHES, A CALL CENTER, AND ONLINE ACCOUNT SERVICES.
- VERITY CREDIT UNION OFFERS A FULL-SERVICE INVESTMENT PROGRAM WITH THREE REGISTERED INVESTMENT REPRESENTATIVES AND A SUPPORT REPRESENTATIVE. AS OF DECEMBER 31, 2024, VERITY'S INVESTMENT SERVICES PROGRAM HAD 1,071 MEMBERS WHO HAVE 2,203 ACCOUNTS, AND $257,296,828 IN ASSETS UNDER MANAGEMENT.
- VERITY CREDIT UNION OFFERS FREE FINANCIAL COUNSELING TO ITS MEMBERS. SPECIFIC SERVICES INCLUDE FINANCIAL PLANNING, DEBT MODIFICATION ON LOANS FROM VERITY AND OTHER CREDITORS, AND DIRECT ASSISTANCE IN UTILIZING THE GOVERNMENT SPONSORED MORTGAGE RELIEF PROGRAMS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 91-0219005
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1954
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1269: CREDIT UNIONS IN THE STATE OF WASHINGTON
- Assets (IRS master file)
- $771,402,594
- Income (IRS master file)
- $48,325,423
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $48,232,886 | $47,200,102 | $771,402,594 | IRS |
| 990 | December 2023 | $45,931,618 | $45,645,854 | $829,447,323 | XML |
| 990 | December 2022 | $38,343,946 | $30,623,047 | $865,179,017 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 91-0219005).
Questions about CREDIT UNIONS IN THE STATE OF WASHINGTON
- What is the EIN of CREDIT UNIONS IN THE STATE OF WASHINGTON?
- The employer identification number (EIN) of CREDIT UNIONS IN THE STATE OF WASHINGTON is 91-0219005.
- Is CREDIT UNIONS IN THE STATE OF WASHINGTON tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1954.
- Are donations to CREDIT UNIONS IN THE STATE OF WASHINGTON tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CREDIT UNIONS IN THE STATE OF WASHINGTON file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CREDIT UNIONS IN THE STATE OF WASHINGTON due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CREDIT UNIONS IN THE STATE OF WASHINGTON last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CREDIT UNIONS IN THE STATE OF WASHINGTON?
- The 990 for the year ended December 31, 2024 names TONITA WEBB.
- Who are the officers and directors of CREDIT UNIONS IN THE STATE OF WASHINGTON?
- The 990 for the year ended December 31, 2024 lists 21 people; 11 received compensation from the organization, the highest $579,850 (TONITA WEBB, PRESIDENT - CEO).
- How much revenue does CREDIT UNIONS IN THE STATE OF WASHINGTON have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $48,232,886, expenses of $47,200,102 and total assets of $771,402,594 at year end.
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