Nonprofit · EIN 91-0712539
WHATCOM EDUCATIONAL CREDIT UNION
Tax-exempt · BELLINGHAM, WA 98225
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $184,450,455 | $172,171,853 | $12,278,602 | $3,331,778,128 | $2,965,285,859 | $366,492,269 |
| December 31, 2024 | 990 | $166,494,738 | $154,291,742 | $12,202,996 | $2,957,165,947 | $2,607,584,743 | $349,581,204 |
| December 31, 2023 | 990 | $138,092,209 | $119,310,663 | $18,781,546 | $2,766,280,343 | $2,430,302,080 | $335,978,263 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $164,897,008
- Investment income
- $18,980,126
- Net rental income
- -$189,030
- Net gain from sales of assets
- $3,070,855
- Other revenue
- $573,321
Expenses
- Grants and similar amounts paid
- $351,394
- Benefits paid to members
- $51,028,467
- Compensation of officers, directors and key employees
- $5,151,195
- Other salaries and wages
- $34,441,644
- Salaries, compensation and benefits (total)
- $54,821,688
- Professional fundraising fees
- $0
- Legal fees
- $155,335
- Accounting fees
- $264,790
- Occupancy
- $1,371,516
- Travel
- $181,606
- Depreciation
- $1,901,474
Balance sheet and other
- Total assets, start of year
- $2,957,165,947
- Total assets, end of year
- $3,331,778,128
- Total liabilities, end of year
- $2,965,285,859
- Net assets, end of year
- $366,492,269
- Land, buildings and equipment
- $59,912,446
- Publicly traded securities
- $191,218,396
- Gross unrelated business income
- $47,112
- Gross receipts
- $222,521,336
- Employees
- 480
- Volunteers
- 10
- Year formed
- 1936
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JENNIFER KUTCHER | PRESIDENT & CEO Officer | 50 | $936,965 | $84,802 |
| JEFFREY DYKSTRA - CHIEF | STRAT. DEV. OFFICER (LEFT 10/2025) Key employee | 45 | $663,150 | $73,259 |
| JACK INGRAM | CHIEF INFORMATION OFFICER Key employee | 45 | $504,264 | $73,271 |
| NICHOLAS HODSON | CHIEF FINANCIAL OFFICER Officer | 45 | $415,647 | $73,425 |
| CYNTHIA CHASE KLEIN | CHIEF ADMINISTRATIVE OFFICER Key employee | 45 | $367,550 | $72,171 |
| GRANT DAVID DYKSTRA | DIRECTOR, BUSINESS BANKING PROD. Highest-paid employee | 40 | $327,135 | $53,537 |
| MATTHEW HENRY BERENDSEN | SENIOR VICE PRESIDENT, GROWTH Key employee | 45 | $337,360 | $38,726 |
| ERYNNE MARIA HALLOCK | SENIOR VICE PRESIDENT, IMPACT Key employee | 45 | $307,233 | $55,631 |
| DAVID PIERCE JONES - CHIEF | MARKETING OFFICER (LEFT 9/2025) Key employee | 45 | $307,994 | $43,693 |
| KENT BOUMA | VICE PRESIDENT, BUSINESS BANKING Key employee | 40 | $304,601 | $41,855 |
| BOLORTSETSEG SMITH | VICE PRESIDENT, INTERNAL AUDIT Key employee | 45 | $232,840 | $45,902 |
| PAUL COVER | RE LOAN ORIGINATION OFFICER Highest-paid employee | 40 | $239,941 | $33,645 |
| DONAVON LEE SWINNEY | VICE PRESIDENT, TECHNOLOGY Highest-paid employee | 40 | $214,972 | $53,976 |
| KERRI LYN HELM | SENIOR VP, CHANNEL DELIVERY Highest-paid employee | 40 | $218,705 | $36,921 |
| NICHOLAS BORG | REAL ESTATE LOAN OFFICER Highest-paid employee | 40 | $198,856 | $40,682 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GABRIEL MAST | CHAIR Trustee or director, Officer | 4 | $37,500 |
| KURT WILLIS | VICE CHAIR Trustee or director, Officer | 4 | $32,500 |
| CAROL LAGER | SECRETARY Trustee or director, Officer | 4 | $31,935 |
| STEPHANIE MORRELL | DIRECTOR Trustee or director | 4 | $28,185 |
| KRISTI LEWIS TYRAN | DIRECTOR Trustee or director | 4 | $25,565 |
| DALE ZENDER | DIRECTOR Trustee or director | 4 | $25,565 |
| MARGO HAMMOND | DIRECTOR Trustee or director | 4 | $25,000 |
| JOHN STERNLICHT | DIRECTOR Trustee or director | 4 | $25,000 |
| ASHOK KHANNA | DIRECTOR Trustee or director | 4 | $16,564 |
| RACHEL VASAK | DIRECTOR Trustee or director | 4 | $13,870 |
990 for the year ended December 31, 2024: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JENNIFER KUTCHER | PRESIDENT & CEO Officer | 50 | $884,765 | $81,561 |
| JACK INGRAM | CHIEF INFORMATION OFFICER Key employee | 45 | $453,215 | $70,269 |
| JEFFREY DYKSTRA | EXECUTIVE VICE PRESIDENT Key employee | 45 | $451,454 | $69,894 |
| NICHOLAS HODSON | CHIEF FINANCIAL OFFICER Officer | 45 | $383,666 | $56,690 |
| CYNTHIA CHASE KLEIN | CHIEF HUMAN RESOURCES OFFICER Key employee | 45 | $332,953 | $59,074 |
| ERYNNE MARIA HALLOCK | VICE PRESIDENT, RETAIL DELIVERY Key employee | 45 | $293,716 | $46,474 |
| MATTHEW HENRY BERENDSEN | VICE PRESIDENT, LENDING Key employee | 45 | $293,268 | $31,993 |
| GRANT DAVID DYKSTRA | BUSINESS BANKING SENIOR LOAN OFFICER Highest-paid employee | 40 | $281,706 | $42,969 |
| DAVID PIERCE JONES | CHIEF MARKETING OFFICER Key employee | 45 | $278,242 | $41,151 |
| KENT BOUMA | VICE PRESIDENT, BUSINESS BANKING Key employee | 45 | $289,575 | $28,574 |
| BOLORTSETSEG SMITH | VICE PRESIDENT, INTERNAL AUDIT Key employee | 40 | $223,880 | $31,953 |
| DONAVON LEE SWINNEY | DIRECTOR, INFORMATION SECURITY Highest-paid employee | 40 | $209,142 | $41,966 |
| DAVID LEROY DODGE | DIRECTOR, IT INFRASTRUCTURE Highest-paid employee | 40 | $200,403 | $41,059 |
| PAUL COVER | RE LOAN ORIGINATION OFFICER Highest-paid employee | 40 | $195,081 | $46,250 |
| KERRI LYN HELM | DIRECTOR, DIGITAL PRODUCTS Highest-paid employee | 40 | $200,157 | $28,574 |
| GABRIEL MAST | CHAIR Trustee or director, Officer | 4 | $36,871 | $0 |
| KURT WILLIS | VICE CHAIR Trustee or director, Officer | 4 | $32,066 | $0 |
| KRISTI LEWIS TYRAN | DIRECTOR Trustee or director | 4 | $30,263 | $0 |
| CAROL LAGER | SECRETARY Trustee or director, Officer | 4 | $28,900 | $0 |
| DALE ZENDER | DIRECTOR Trustee or director | 4 | $28,392 | $0 |
| ASHOK KHANNA | DIRECTOR Trustee or director | 4 | $25,150 | $0 |
| MARGO HAMMOND | DIRECTOR Trustee or director | 4 | $25,150 | $0 |
| STEPHANIE MORRELL | DIRECTOR Trustee or director | 4 | $25,150 | $0 |
| JOHN STERNLICHT | DIRECTOR Trustee or director | 4 | $18,934 | $0 |
| DAVID WASCHKE | DIRECTOR (THRU 6/30/24) Trustee or director | 4 | $12,432 | $0 |
990 for the year ended December 31, 2023: 26 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JENNIFER KUTCHER | PRESIDENT & CEO Officer | 50 | $836,637 | $108,430 |
| JACK INGRAM | CHIEF INFORMATION OFFICER Key employee | 45 | $427,450 | $103,588 |
| JEFFREY DYKSTRA | EXECUTIVE VICE PRESIDENT Key employee | 45 | $420,899 | $96,115 |
| NICHOLAS HODSON | CHIEF FINANCIAL OFFICER Officer | 45 | $350,972 | $89,438 |
| CYNTHIA CHASE KLEIN | CHIEF HUMAN RESOURCES OFFICER Key employee | 45 | $315,903 | $92,404 |
| ERYNNE MARIA HALLOCK | VICE PRESIDENT, RETAIL DELIVERY Key employee | 45 | $278,862 | $75,023 |
| MATTHEW HENRY BERENDSEN | VICE PRESIDENT, LENDING Key employee | 45 | $284,544 | $61,256 |
| KENT BOUMA | VICE PRESIDENT, BUSINESS BANKING Key employee | 45 | $272,883 | $58,406 |
| DAVID PIERCE JONES | CHIEF MARKETING OFFICER Key employee | 45 | $260,938 | $68,399 |
| GRANT DAVID DYKSTRA | BUSINESS BANKING SENIOR LOAN OFFICER/MANAGER Highest-paid employee | 40 | $251,942 | $69,147 |
| GLEN BERRY | DIRECTOR, BUSINESS INTELLIGENCE Highest-paid employee | 40 | $197,499 | $72,690 |
| DONAVON LEE SWINNEY | DIRECTOR, INFORMATION SECURITY Highest-paid employee | 40 | $192,842 | $61,792 |
| DAVID LEROY DODGE | DIRECTOR, IT INFRASTRUCTURE Highest-paid employee | 40 | $193,097 | $61,054 |
| BOLORTSETSEG SMITH | VICE PRESIDENT, RISK MANAGEMENT Key employee | 40 | $196,149 | $41,956 |
| DUSTIN WILDER | BUSINESS BANKING LOAN OFFICER III Highest-paid employee | 40 | $184,983 | $51,237 |
| CAROL LAGER | DIRECTOR Trustee or director | 4 | $3,102 | $0 |
| DALE ZENDER | SECRETARY Trustee or director, Officer | 4 | $1,564 | $0 |
| ASHOK KHANNA | DIRECTOR Trustee or director | 4 | $1,452 | $0 |
| KURT WILLIS | DIRECTOR Trustee or director | 4 | $1,272 | $0 |
| KRISTI LEWIS TYRAN | CHAIR Trustee or director, Officer | 4 | $0 | $0 |
| GABRIEL MAST | VICE CHAIR Trustee or director, Officer | 4 | $0 | $0 |
| DAVID WASCHKE | DIRECTOR Trustee or director | 4 | $0 | $0 |
| MARGO HAMMOND | DIRECTOR Trustee or director | 4 | $0 | $0 |
| STEPHANIE MORRELL | DIRECTOR Trustee or director | 4 | $0 | $0 |
| HARTE BRESSLER | DIRECTOR (THRU 10/23/23) Trustee or director | 4 | $0 | $0 |
| CATHIE OBERG | DIRECTOR (THRU 02/16/23) Trustee or director | 4 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 21 BELLWETHER WAY, BELLINGHAM, WA 98225-2961
- Mailing address (990-N for 2025)
- PO Box 1466, Ferndale WA 98230
- Principal officer (990 for 2025)
- JENNIFER KUTCHER, 21 BELLWETHER WAY 111, BELLINGHAM, WA 98225
- Principal officer (990-N for 2025)
- Claire McElroy, PO Box 1466, Ferndale WA 98230
- Signed the 990
- JENNIFER KUTCHER, PRESIDENT/CEO
- Phone
- (360) 676-1168
- Website
- WWW.WECU.COM
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
WHATCOM EDUCATIONAL CREDIT UNION (WECU) IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE WHERE MEMBERS ARE ENCOURAGED TO SAVE AND BORROW RESPONSIBLY AT FAIR AND COMPETITIVE RATES, IMPROVING THEIR FINANCIAL WELL-BEING AND STANDARD OF LIVING. THIS STATE-CHARTERED CREDIT UNION IS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION SHARE INSURANCE FUND, AND IS REGULATED BY THE NATIONAL CREDIT UNION ASSOCIATION, AND THE STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS - DIVISION OF CREDIT UNIONS. WECU'S MAIN PRODUCTS ARE CONSUMER LOANS, REAL ESTATE LOANS AND COMMERCIAL LOANS TO MEMBERS, WHICH ARE PRIMARILY FUNDED BY DEPOSITS FROM MEMBERS. FINANCIAL EDUCATION AND COMMUNITY SERVICE ARE ALSO AN INTEGRAL PART OF WECU'S OPERATIONS AND SPIRIT OF SERVICE.
Program accomplishments
- LENDING:TOTAL OUTSTANDING LOANS INCREASED BY 7.8%, AMOUNTING TO $190.18 MILLION YEAR-OVER-YEAR (YOY). DESPITE A CHALLENGING ENVIRONMENT, WECU PROVIDED A TOTAL OF $715 MILLION IN LOANS TO MEMBERS WITHIN THE COMMUNITIES WE SERVE.
- DEPOSITS & LIQUIDITY: DEPOSITS FOR MEMBERS AND NON-MEMBERS GREW BY 15.5%, AMOUNTING TO $365.69 MILLION YEAR-OVER-YEAR (YOY). BORROWINGS DECREASED BY 14.6%, TOTALING $30.0 MILLION YOY. THESE INCREASES AND DECREASES ENABLED WECU TO SUSTAIN LIQUIDITY RESERVES THROUGHOUT 2025. THE INCREASE IN DEPOSITS SUGGESTS THAT THE CURRENT PRICING STRATEGY IS SUCCESSFULLY RETAINING AND ATTRACTING NEW DEPOSIT RELATIONSHIPS. ADDITIONALLY, WECU CONTRIBUTED TO THE ECONOMY BY DISTRIBUTING $51 MILLION IN DIVIDENDS. MEMBERSHIP GROWTH ALSO SAW A YOY INCREASE OF 2.82%.
- COMMUNITY INVOLVEMENT:WHILE TECHNICALLY NOT A CHARTERED SERVICE, WECU IS COMMITTED TO COMMUNITY SERVICE AND PROVIDES SUPPORT TO A LARGE NUMBER OF LOCAL EDUCATIONAL, HEALTH AND COMMUNITY CONCERNS. IN 2025, HELPING MEMBERS AND THE COMMUNITY AT LARGE CONTINUES TO BE A PRIMARY FOCUS. THIS WAS DEMONSTRATED THROUGH SEVERAL ACTIVITIES THROUGHOUT THE YEAR THROUGHOUT THE COUNTIES SERVED.
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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 | 990-N 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
- 91-0712539
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1954
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Public and societal benefit (W61)
- Group exemption
- 1269: CREDIT UNIONS IN THE STATE OF WASHINGTON
- Assets (IRS master file)
- $366,492,269
- Income (IRS master file)
- $222,521,336
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-N for 2025 Officer: Claire McElroy | December 31, 2025 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | December 2025 | $184,450,455 | $172,171,853 | $3,331,778,128 | IRS |
| 990 | December 2024 | $166,494,738 | $154,291,742 | $2,957,165,947 | IRS |
| 990 | December 2023 | $138,092,209 | $119,310,663 | $2,766,280,343 | XML |
| 990-N for 2022 Officer: Elizabeth Sipes | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
| 990-N for 2015 Officer: Helene Berg-Kolin | December 31, 2015 | ≤ $50,000 receipts | – | – | e-Postcard |
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 91-0712539).
Questions about WHATCOM EDUCATIONAL CREDIT UNION
- What is the EIN of WHATCOM EDUCATIONAL CREDIT UNION?
- The employer identification number (EIN) of WHATCOM EDUCATIONAL CREDIT UNION is 91-0712539.
- Is WHATCOM EDUCATIONAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1954.
- Are donations to WHATCOM EDUCATIONAL CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does WHATCOM EDUCATIONAL CREDIT UNION file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of WHATCOM EDUCATIONAL CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WHATCOM EDUCATIONAL CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990-N for 2025 for the year ended December 31, 2025.
- Who is the principal officer of WHATCOM EDUCATIONAL CREDIT UNION?
- The 990 for the year ended December 31, 2025 names JENNIFER KUTCHER.
- Who are the officers and directors of WHATCOM EDUCATIONAL CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 25 people; 25 received compensation from the organization, the highest $936,965 (JENNIFER KUTCHER, PRESIDENT & CEO).
- How much revenue does WHATCOM EDUCATIONAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $184,450,455, expenses of $172,171,853 and total assets of $3,331,778,128 at year end.
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