Wecu
Legal name: Whatcom Educational Credit Union
Nonprofit profile at a glance
- EIN
- 910712539
- IRS 990 coverage
- 2010–2025
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2025, Form 990-N 2025
- Location
- Bellingham, WA, USA
- Phone
- 800-525-8703
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $184,450,455
- Expenses
- $172,171,853
- Assets
- $3,331,778,128
- Liabilities
- $2,965,285,859
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- JENNIFER KUTCHER (PRESIDENT & CEO)
- MATTHEW HENRY BERENDSEN (SENIOR VICE PRESIDENT, GROWTH)
- ERYNNE MARIA HALLOCK (SENIOR VICE PRESIDENT, IMPACT)
- KENT BOUMA (VICE PRESIDENT, BUSINESS BANKING)
- BOLORTSETSEG SMITH (VICE PRESIDENT, INTERNAL AUDIT)
- DONAVON LEE SWINNEY (VICE PRESIDENT, TECHNOLOGY)
Highest reported compensation
- JENNIFER KUTCHER (PRESIDENT & CEO): $1,021,767 total reported compensation
- JEFFREY DYKSTRA - CHIEF (STRAT. DEV. OFFICER (LEFT 10/2025)): $736,409 total reported compensation
- JACK INGRAM (CHIEF INFORMATION OFFICER): $577,535 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Making a meaningful difference in the lives of its members.
What it reported doing in 2025
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%.
Operating model
- Revenue model
- Earned-program. 91% 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: 71
- Accountability: 42
- Sustainability: 61
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 7th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 71.6%; rating input score 72; 21st percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.7%; rating input score 61; 61st percentile among comparable filings
- Total-asset coverage ratio: 19.35; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: 0.89; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 3.9%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 9.2% per year; rating input score 100; 69th percentile among comparable filings
- Asset growth: 9.9% per year; rating input score 100; 67th percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 2 operating locations identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 10 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $1M · 25 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $8.5M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 16 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 40 filed money-flow records
- Related organizations: 13 filed related-organization links
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.