Compensation 990

Qualstar Credit Union

Fiscal year ending 2024. Filed on November 17, 2025.

PO Box 3050
Bothell, Washington 98041

Qualstar Credit Union (EIN: 91-6035907) has filed an IRS Form 990 between fiscal years 2016 and 2024. In its fiscal year 2024 IRS Form 990 filing, Qualstar Credit Union, a 501(c)(14) state-chartered credit union or mutual reserve fund, reported compensation for 9 out of 159 total employees. Among the employees shown here, the average compensation is $222,548. The highest compensated employee at Qualstar Credit Union is Michael G Elfstrom with fiscal year 2024 compensation of $488,951. Qualstar Credit Union changed its name from Credit Unions IN the State of Washi Ngton in 2021.

Revenue, expenses, and employee compensation

Revenue

$58,863,677

Expenses

$49,819,511

Employee compensation

$12,126,589
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

＋9.5%vs 2023
Michael G Elfstrom
President
$488,951
$447,622 from orgNo related comp$41,329 other
＋15.4%vs 2023
Roshalle Dearment
Senior Vice President of Lending
$250,893
$226,608 from orgNo related comp$24,285 other
New in 2024
Michael Bishop
Senior Vice President, Operations
$243,819
$210,124 from orgNo related comp$33,695 other
New in 2024
Jason Ball
Vice President, Information Technology
$229,784
$203,000 from orgNo related comp$26,784 other
＋16.2%vs 2023
Lacinda Blanchette
Vice President of Member Engagement
$210,131
$186,774 from orgNo related comp$23,357 other
＋8.7%vs 2023
Patience Tennis
Vice President, Human Resources
$203,517
$188,073 from orgNo related comp$15,444 other
＋8.5%vs 2023
William Hanaford
Investment Advisor
$156,981
$142,992 from orgNo related comp$13,989 other
＋3.3%vs 2023
Carla Pizarro
Director Business Solutions/Audit
$147,309
$133,660 from orgNo related comp$13,649 other
New in 2024
Brook Hamilton
Chief Financial Officer
$71,549
$68,586 from orgNo related comp$2,963 other

Non-Employee Board Members

New in 2024
Mitch Johnson
Board Chair
$2,857
$2,857 from orgNo related compNo other comp
New in 2024
Ade' Ariwoola
Board Member
$1,906
$1,906 from orgNo related compNo other comp
New in 2024
Tracy Oster
Board Member
$1,687
$1,687 from orgNo related compNo other comp
＋18.3%vs 2023
Leanne Califano
Board Vice Chair
$1,592
$1,592 from orgNo related compNo other comp
New in 2024
Cheryl Silva
Board Member
$1,523
$1,523 from orgNo related compNo other comp
－23.2%vs 2023
Kim Brown
Board Member
$1,111
$1,111 from orgNo related compNo other comp
New in 2024
Doug Scott
Board Secretary and Treasurer
$717
$717 from orgNo related compNo other comp
Kim Zier
Board Member (Thru 4/24)
No compensation reported
Russ de Wolfe
Board Member
No compensation reported
Noel McMurtray
Board Member
No compensation reported

Mission Statement

WE ARE A CREDIT UNION PROVIDING FINANCIAL PRODUCTS & SERVICES TO MEMBERS.

Revisions to this organization profile

November 17, 2025:
2024 Qualstar Credit Union 990 filed
November 15, 2024:
2023 Qualstar Credit Union 990 filed
November 15, 2023:
2022 Qualstar Credit Union 990 filed

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