Northwest Plus Credit Union

Nonprofit profile at a glance

EIN
910684272
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Everett, WA, USA
Phone
4252971000
Rating confidence
Limited

Official website

Reported finances

Revenue
$13,985,321
Expenses
$12,138,180
Assets
$301,456,253
Liabilities
$268,221,367

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • TORRIE RAMOS (CEO/PRESIDENT)

Highest reported compensation

  • TORRIE RAMOS (CEO/PRESIDENT): $387,924 total reported compensation
  • BRIAN WALKER (CFO): $175,246 total reported compensation
  • DEBRA DRISCOLL (CLO): $147,764 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We bring humanity to financial services.

What it reported doing in 2024

Since 1939, nw plus credit union has provided financial services to theemployees and family members of frontier communications formerly knownas gte and verizon. Since then, we have expanded our charter to includeanyone who lives, works or worships in the state of Washington. Nw pluscredit union's existence reflects its members' combined interests tobenefit the general membership in the local communities we serve. Weprovide a full spectrum of financial products and services and returnthe profit to our members, with lower loan rates and higher savingsrates, low fees, and innovative products. This direct financial valueis given back to our members, instead of being paid to a limited numberof stockholders, officers, or out-of-state owners, as many banks do. Asof december 31, 2024, nw plus credit union had 15,612 members.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 95
  • Sustainability: 68
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.2%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 24.84; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 7.8%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $388K · 12 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.