2017-05-10T15:30:50-07:00 2016-12-31 382336859 Cindrich Mahalak & Co 31215 Jefferson Ave St Clair Shores MI 48082 990 2016-01-01 381514946 Security Credit Union SECU 8102352322 3801 West Boulevard Drive Flint MI 48505 Christohper L Bowman VP Accounting 8102352322 2017-05-10 1 Denise Luckenbacher P01546100 5862961155 2017-05-10 50.197.117.117 2016 2021-01-29 14:40:06Z Christopher Estes 3801 West Boulevard Drive Flint MI 48505 21426950 0 X www.securitycu.org X Credit Union 1955 MI To provide financial services to member owners with a common bond. 14 14 183 14 249036 -212831 0 0 16841947 18992167 2443305 2204477 0 0 19285252 21196644 0 0 0 0 6926404 7650390 0 0 0 10297566 12074599 17223970 19724989 2061282 1471655 406245681 411269952 370909335 375210547 35336346 36059405 We are our Members' trusted, secure financial cooperative dedicated to providing exceptional value, personalized service, and convenience. 0 0 Provide 48,104 members with Regular Shares, Share Drafts, Money Market, and Certificate accounts totaling 86,327. Provide 26,812 loans, including Vehicle, Business, First Mortgage, Home Equity, Line of Credit, and Unsecured loans. Offer Automated Teller Machines, Wire Transfers, Money Orders and various insurance programs. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7358 0 1 183 1 1 1 0 0 0 0 0 X 14 14 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 0 1 1 1 0 X Security Credit Union 8102352322 3801 West Boulevard Drive Flint MI 48505 Kennith Scott Chairperson 2 X X 0 0 0 John Truchan Vice Chairperson 2 X X 0 0 0 Richard Hazel Secretary 2 X X 0 0 0 Gerald DeMaria Treasurer 2 X X 0 0 0 Vic Carpenter Director 2 X 0 0 0 Tom Crooks Director 2 X 0 0 0 Ron Dodge Director 2 X 0 0 0 Lauren Emmons Director 2 X 0 0 0 Wilda Foy Director 2 X 0 0 0 Donald Henry Director 2 X 0 0 0 Joseph Niedzwiecki Director 2 X 0 0 0 Donald Sorensen Director 2 X 0 0 0 Phil Thick Director 2 X 0 0 0 Jessie Collins Director 2 X 0 0 0 Christopher Estes President/CEO 40 X 295353 0 170307 Chris Bowman VP Accounting 40 X 102907 0 30193 Chad Merrihew SVP/COO 40 X 135638 0 51767 533898 0 252267 3 0 1 0 Fiserv 75 Remittance Dr Suite 6956 Chicago IL 60675 Computer Software/Card Processing 781373 Blue Cross Blue Shield PO Box 674416 Detroit MI 48267 Employee Health Insurance 947010 Siwek Construction 5020 Pilgrim Road Flint MI 48507 Construction 2906963 Fiserv 75 Remittance Dr Suite 6956 Chicago IL 60675 MC Debit Fees 798402 Jack Henry & Associates Inc PO Box 609 Monett MO 65708 Computers/Hardware/Software 781976 17 0 Loan Interest 522100 12316447 12316447 0 0 Other Income 522100 6552464 6303428 249036 0 Sale of Mortgages 522100 123256 123256 0 0 0 0 0 0 18992167 2214745 2214745 0 0 0 0 0 0 0 0 0 0 0 0 0 220038 0 230306 0 -10268 -10268 -10268 0 0 0 21196644 20947608 249036 0 786165 5079250 128872 1169459 486644 40896 65097 390378 926806 3320925 613657 1472185 61546 77898 366426 901798 167893 Provision for Loan Loss 2115849 Loan Servicing 1093842 Other Operating Expense 346629 Operating Fee 93582 19192 19724989 0 0 0 14417129 9345923 14876900 13409923 103763 1557739 215920407 274718961 546580 567120 30930364 10523197 16603196 20407167 7005037 7518909 129953816 70814596 1863660 7987833 4955193 4941781 406245681 411269952 4817055 5184618 366092280 370025929 370909335 375210547 X 0 0 0 0 35336346 36059405 35336346 36059405 406245681 411269952 X 1471655 -143063 0 0 0 -605533 X 0 1 X 1 0 0 7131319 7131319 0 14375993 4560919 9815074 0 1718484 874032 844452 0 7704568 5088246 2616322 0 0 0 0 20407167 AFS Securities 69694253 F Other Securities 1120343 C 70814596 Member Shares 370025929 370025929 X 1 1 X X X 0 1 0 Christopher Estes President/CEO 270353 0 25000 0 0 0 152430 0 17877 0 465660 0 0 0 Chad Merrihew SVP/COO 121608 0 14030 0 0 0 34741 0 17026 0 187405 0 0 0 Schedule J, Part I, Line 1a Each Board and Committee Member is entitled to have their spouse accompany them to the conference. Schedule J, Part I, Line 4 Christopher Estes, President/CEO participated in a 457(f) non-qualified plan with certain other individuals that has a balance on December 31, 2016 of $7,518,909. 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 Members elect members of the governing body each year at the annual meeting. Board of Directors members are elected for three year terms. Form 990, Part VI, Section A, Line 7b Decisions of the governing body that are subject to membership approval are mergers into another institution and charter changes. Form 990, Part VI, Section A, Line 8b The organization has no committees. Form 990, Part VI, Section B, Line 11b A review is completed by the VP Accounting prior to submission to the IRS. Form 990, Part VI, Section B, Line 12c Upon election or appointment, the Board of Directors sign an oath of office that includes a conflict of interest statement. Management signs a conflict of interest policy annually and is reviewed by the President/CEO. Form 990, Part VI, Section B, Line 15 The Board of Directors reviews the President/CEO performance and approves compensation. This is documented in the minutes and Credit Union Executive Society (CUES), as well as the National Association of Credit Unions Chairmen CEO salary survey. The President/CEO reviews all executive compensation using the Credit Union Executive Society (CUES) Guide and documentation is retained in their personnel files. Form 990, Part VI, Section C, Line 19 The financial statements are posted in the lobby of each office. Other documents are available upon request. Form 990, Part XI, Line 9 Unrecognized Retirement Costs -605,533