2018-11-15T13:56:48-06:00 2017-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 381439781 PUBLIC SERVICE CREDIT UNION PUBL 7346418400 7665 MERRIMAN ROAD ROMULUS MI 48174 DEAN J TRUDEAU PRESIDENT/CEO 7346418400 2018-11-15 1 JOHN MILLER P02041965 2482443000 64.95.240.2 2018-11-15 08:59:01 ES P 5C10503600C6A44598C4573B9F16AA1A88D12859 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2017 2018-06-14 16:35:46Z DEAN J TRUDEAU 7665 MERRIMAN ROAD ROMULUS MI 48174 17144820 0 X WWW.PSCUNOW.COM X 1951 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 7 6 136 9 200890 -178277 0 0 14081998 15476947 1006055 1306798 4067 4924 15092120 16788669 10000 8000 0 0 5908881 5952012 0 0 0 6719029 7612800 12637910 13572812 2454210 3215857 239040778 269159657 214543361 241290914 24497417 27868743 TO HELP OUR MEMBERS REACH THEIR FINANCIAL GOALS. WE ARE COMMITTED TO PROVIDING EXCEPTIONAL SERVICES FROM KNOWLEDGABLE EMPLOYEES. AS A MEMBER OF THE PSCU FAMILY, EVERYONE WILL BE TREATED WITH DIGNITY AND RESPECT. 0 0 PROVIDE 31,734 MEMBERS WITH REGULAR SHARES, SHARE DRAFT, MONEY MARKET, IRA, CERTIFICATE OF DEPOSIT AND CLUB ACCOUNTS TOTALING 60,231. PROVIDE 13,614 LOANS INCLUDING VEHICLE, MORTGAGE, HOME EQUITY, COMMERCIAL AND PERSONAL LOANS. OFFER AUTOMATED TELLER MACHINES, COURTESY PAY, WIRE TRANSFERS, GIFT CARDS, MONEY ORDERS AND VARIOUS INSURANCE PROGRAMS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 3993 0 1 136 1 1 1 0 0 0 0 0 X 7 6 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X PUBLIC SERVICE CREDIT UNION 7346418400 7665 MERRIMAN ROAD ROMULUS MI 48174 FREDERICK MORGAN CHAIRPERSON 2.00 X X 0 0 0 JEFF KING VICE CHAIRPERSON 2.00 X X 0 0 0 EDWARD CAREY SECRETARY 2.00 X X 0 0 0 NORA SHARPLEY DIRECTOR 2.00 X 0 0 0 CHARLIE LOWLER DIRECTOR 2.00 X 0 0 0 DALE REAUME DIRECTOR 2.00 X 0 0 0 DEAN J TRUDEAU PRESIDENT/CEO/TREASURER 40.00 X X 291740 0 26343 SUSAN WYPUTA SVP OF FINANCE 40.00 X 175658 0 104928 DONNA FOLLBAUM VP OF OPERATIONS 40.00 X 163323 0 33073 ROBERT MERCIER VP OF GROWTH & DEVELOPMENT 40.00 X 142038 0 30491 ANGLEO FANARAS VP OF INFORMATION SERVICES 40.00 X 109679 0 48901 882438 0 243736 5 0 1 0 CO-OP 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 CARD PROCESSOR 1134105 EPL INC 22 INVERNESS CTR PKWY BIRMINGHAM AL 35242 PROCESSOR 688511 NYCE 400 PLAZA DRIVE 2ND FLOOR SECAUCUS NJ 07094 CARD PROCESSOR 138218 WINDSTREAM PO BOX 9001013 LOUISVILLE KY 40290 COMMUNICATIONS 118525 FIS 11601 N ROOSEVELT BLVD ST PETERSBURG FL 33716 VISA 110335 5 LOAN INTEREST INCOME 522100 7673094 7673094 FEE AND OTHER INCOME 522100 7602963 7602963 NON-MEMBER ATM FEE INCOME 900099 128412 128412 NON-MEMBER SHARED BRANCH INCOME 522100 72478 72478 15476947 1328045 1328045 14300 9376 4924 4924 4924 325528 346775 -21247 -21247 -21247 16788669 16587779 200890 0 8000 795065 3711319 236815 134418 1074395 11210 51618 32224 353000 2549220 780084 530039 33398 350946 952851 283374 57547 LOAN SERVICING 1021410 PROVISION FOR LOAN LOSS 359500 MISCELLANEOUS EXPENSES 190909 EXAM FEES 55470 13572812 3815583 3659171 5737395 7223406 224949 777524 147543171 182568768 566507 917599 11678944 4332380 7142560 7346564 54984744 46104613 13894628 13380830 5131241 7181182 239040778 269159657 380249 1743826 4000000 12000000 210163112 227547088 214543361 241290914 X 0 0 0 0 24497417 27868743 24497417 27868743 239040778 269159657 X 3215857 -59399 214868 X X 0 1 X 1 0 1868230 1868230 6243168 1261840 4981328 736209 734110 2099 2772502 2336430 436072 58835 58835 7346564 FEDERAL AGENCY SECURITIES 10011090 F CERTIFICATES OF DEPOSIT 17910000 C CO-OP NETWORK STOCK 200 C FHLB STOCK 450000 C CU SOLUTIONS GROUP STOCK 113150 C MEMBER FIRST MORTGAGE INVESTMENT 670816 C CORPORATE BONDS 4010916 F MUNICIPAL BONDS 247053 F CMOS 6503228 F INSURANCE INVESTMENTS 5996466 C MERGER INVESTMENTS 191694 F 46104613 MEMBER SHARES AND DEPOSITS 227547088 227547088 X 16798045 0 16798045 -9376 -9376 16788669 13582188 9376 9376 13572812 0 13572812 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES, BUT STILL MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UNRELATED BUSINESS INCOME IS INCOME FROM A TRADE OR BUSINESS REGULARLY CARRIED ON BY A TAX EXEMPT ORGANIZATION THAT IS NOT SUBSTANTIALLY RELATED TO THE ORGANIZATION'S EXEMPT PURPOSES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED NET OF RENTAL REVENUE IN FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS -9,376. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED NET OF RENTAL REVENUE IN FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS 9,376. 1 SCHOLARSHIPS 8 8000 PART I, LINE 2: SCHOLARSHIP RECIPIENTS COMPLETE APPLICATIONS AND ARE CHOSEN BY COMMITTEE BASED ON CERTAIN CRITERIA. DOCUMENTATION IS MAINTAINED ON THE RECIPIENTS. X X X 0 1 0 DEAN J TRUDEAU PRESIDENT/CEO/TREASURER 258102 0 33063 0 575 0 15314 0 11029 0 318083 0 0 0 SUSAN WYPUTA SVP OF FINANCE 154775 0 20000 0 883 0 82043 0 22885 0 280586 0 0 0 DONNA FOLLBAUM VP OF OPERATIONS 146153 0 17000 0 170 0 10268 0 22805 0 196396 0 0 0 ROBERT MERCIER VP OF GROWTH & DEVELOPMENT 126900 0 14000 0 1138 0 27487 0 3004 0 172529 0 0 0 ANGLEO FANARAS VP OF INFORMATION SERVICES 99400 0 10000 0 279 0 26692 0 22209 0 158580 0 0 0 PART I, LINE 4B DEAN TRUDEAU, PRESIDENT/CEO AND SUSAN WYPUTA, SVP OF FINANCE/CFO HAVE SPLIT DOLLAR LIFE INSURANCE POLICIES WITH CASH SURRENDER VALUES AT DECEMBER 31, 2017 OF $1,508,810 AND $1,353,551, RESPECTIVELY. ASHLEY CARR HR MANAGER CU EMPLOYEE-FAMILY RELATIONSHIP WITH PRESIDENT/CEO, DEAN TRUDEAU 82804 COMPENSATION & BENEFITS 0 DONNA GDOWSKI MARKETINGEVENTS COO CU EMPLOYEE-FAMILY RELATIONSHIP WITH PRESIDENT/CEO, DEAN TRUDEAU 45999 COMPENSATION & BENEFITS 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY A MAIL BALLOT. EACH BOARD MEMBER IS ELECTED FOR A THREE YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B CREDIT UNION DECISIONS THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE MERGERS WHERE THE CREDIT UNION IS NOT THE SURVIVING ONE AND BY-LAW CHANGES. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW IS CONDUCTED BY THE PRESIDENT/CEO AND SVP OF FINANCE/CFO PRIOR TO SUBMISSION TO THE IRS. SUBSEQUENT TO FILING, THE BOARD OF DIRECTORS IS PROVIDED WITH A COPY OF THE 990 RETURNS SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C FOLLOW UP IS PERFORMED BY THE RISK MANAGEMENT DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS FORM A COMMITTEE TO EVALUATE THE PRESIDENT/CEO. SALARY INCREASES ARE BASED ON PERFORMANCE. THE PRESIDENT/CEO PERFORMS AN ANNUAL REVIEW OF THE SVP OF FINANCE/CFO AND USES A COMPENSATION SURVEY. SALARY RECOMMENDATIONS ARE GIVEN TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN OTHER COMPREHENSIVE INCOME 214,868. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.