2017-08-17T10:51:58-05:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 231278971 UTILITIES EMPLOYEES CREDIT UNION UTIL 6109274000 PO BOX 14864 READING PA 19612 BRET H KREVOLIN VICE PRESIDENT/CFO 6109274000 2017-08-16 1 DOUGLAS J ORTH P01076394 3052328272 40.141.134.7 2017-08-16 17:57:00 ED P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2021-01-29 14:40:06Z PATRICIA A ZYMA PO BOX 14864 READING PA 19612 69537853 0 X WWW.UECU.ORG X 1934 PA UECU IS A NOT-FOR-PROFIT COOPERATIVE FINANCIAL INSTITUTION, OWNED BY ITS MEMBERS, OPERATED FOR PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES AND PROVIDING OTHER FINANCIAL SERVICES TO OUR MEMBERS. 8 7 103 10 0 0 0 0 12474636 15640286 17116788 14558276 0 0 29591424 30198562 0 0 0 0 7976616 8366198 0 0 0 15103601 15334416 23080217 23700614 6511207 6497948 1118719456 1153171005 966933358 999214035 151786098 153956970 UECU IS A NOT-FOR-PROFIT COOPERATIVE FINANCIAL INSTITUTION, OWNED BY ITS MEMBERS, OPERATED FOR THE PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES AND PROVIDING OTHER FINANCIAL SERVICES TO OUR MEMBERS. 0 0 CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 25600 0 1 103 1 0 0 0 0 0 0 X 8 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X BRET H KREVOLIN VPCFO 6109274008 11 MERIDIAN BOULEVARD WYOMISSING PA 19610 HARRY BALIAN DIRECTOR 1.00 X 0 0 0 RICHARD R BENSON DIRECTOR 1.00 X 0 0 0 JOE DEANE DIRECTOR 1.00 X 0 0 0 AMY J FLEISCHMAN CHAIRPERSON 1.00 X 0 0 0 DANIEL M FURLONG V. CHAIRPERSON 1.00 X 0 0 0 ANNMARIE HIGGINS DIRECTOR 1.00 X 0 0 0 ALAN R METZLER DIRECTOR 1.00 X 0 0 0 PATRICIA A ZYMA PRESIDENT/CEO 50.00 X X 518536 0 233643 BRET H KREVOLIN VP/CFO 50.00 X 261191 0 32568 JOHN ACANFORA VP OF IT. MARKETING AND BUSINESS DEVELOPMENT 50.00 X 215417 0 29357 MICHAEL MALONE VP OF LENDING 50.00 X 164482 0 31917 ROBERT HALL INVESTMENT OFFICER 50.00 X 171892 0 56321 KENNETH C HEYDT FINANCE MANAGER/CONTROLLER 50.00 X 130624 0 32368 RICKY MINJOCK LENDING MANAGER 50.00 X 116045 0 22345 TERRANCE LARKIN LOAN OPERATIONS AND SALES MANAGER 50.00 X 115256 0 18301 MARY ELLEN CLARK DEPOSIT/CARD SERVICE/PROJECT MGR 50.00 X 116432 0 30436 1809875 0 487256 9 0 1 0 GIFTCERTIFICATESCOM 11510 BLONDO STREET OMAHA NE 68164 VANTAGE POINTS REWARDS PROGRAM 419899 IDSCOM 747 E WHITCOMB AVENUE MADISON HEIGHTS WI 48071 STATEMENT PROCESSING 268724 JACK HENRY AND ASSOCIATES PO BOX 609 MONETT MO 65708 CORE SYSTEM 165877 UNIVERSAL REAL ESTATE SERVICES 201 MAPLE AVENUE CLIFTON HEIGHTS PA 19018 REAL ESTATE SEARCH AND APPRAISAL 133588 LENDING SOLUTIONS 2200 POINT BLVD SUITE 110 ELGIN IL 60123 LOAN APPLICATIONS 126871 9 INCOME ON LOANS 522100 12442114 12442114 FEES/CHARGES/OTHER 522100 3198172 3198172 15640286 14097361 14097361 39800206 39339291 460915 460915 460915 30198562 30198562 0 0 X 1487111 5330673 280563 781596 486255 24477 2110 50126 30885 134944 1054909 523882 540512 327553 5522 6489 9596766 80595 431235 92289 DEBIT/CC EXPENSES 765293 LOAN SERVICING 465365 PROVISION FOR LOAN LOSS 440000 BANK DEPT. FEES 239818 521646 23700614 650 650 28569359 16999243 722299 485775 267597754 275630818 556682 437164 15686381 4978074 10969070 10708307 793552205 830608919 889161 886379 15862276 17413750 1118719456 1153171005 4829657 5425065 962103701 993788970 966933358 999214035 X 0 0 0 0 151786098 153956970 151786098 153956970 1118719456 1153171005 X 6497948 -4026689 -300387 X X 0 1 X 1 0 0 3161950 3161950 9317879 2108335 7209544 3206552 2869739 336813 10708307 SHARE DRAFT 53351605 MONEY MARKET SAVINGS 641591779 REGULAR SHARES 171799214 IRA SHARES 68058913 IRA CD'S 13197386 CERTIFICATES OF DEPOSIT 45790073 993788970 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. X X X 0 1 0 PATRICIA A ZYMA PRESIDENT/CEO 362116 0 156420 0 0 0 221687 0 11956 0 752179 0 0 0 BRET H KREVOLIN VP/CFO 220986 0 40205 0 0 0 21200 0 11368 0 293759 0 0 0 JOHN ACANFORA VP OF IT. MARKETING AND BUSINESS DEV 182904 0 32513 0 0 0 17378 0 11979 0 244774 0 0 0 MICHAEL MALONE VP OF LENDING 139424 0 25058 0 0 0 25446 0 6471 0 196399 0 0 0 ROBERT HALL INVESTMENT OFFICER 155917 0 15975 0 0 0 44953 0 11368 0 228213 0 0 0 KENNETH C HEYDT FINANCE MANAGER/CONTROLLER 120814 0 9810 0 0 0 20708 0 11660 0 162992 0 0 0 PART I, LINE 4B THE CREDIT UNION AND ITS CURRENT PRESIDENT/CEO ARE PARTIES TO AN EMPLOYMENT AGREEMENT DATED OCTOBER 1, 2014, WHICH PROVIDES FOR A PAYMENT UNDER A PERFORMANCE-BASED RETENTION PLAN UPON COMPLETION OF THE REQUIRED EMPLOYMENT AND ACHIEVEMENT OF SPECIFIED CRITERIA. PART II, COLUMN C RETIREMENT AND OTHER DEFERRED COMPENSATION INCLUDED THE CHANGE IN THE ACTUARIAL PRESENT VALUE OF PENSION BENEFITS FOR THOSE PARTICIPATING IN THE CREDIT UNION'S NONCONTRIBUTORY DEFINED BENEFIT PENSION PLAN ("THE PLAN"). THE PLAN COVERS SUBSTANTIALLY ALL EMPLOYEES WHO WERE HIRED BEFORE DECEMBER 31, 2009. MR. ACANFORA AND MR. KREVOLIN WERE HIRED AFTER THAT DATE AND, THEREFORE, ARE NOT COVERED UNDER THE PLAN. ACTUAL BENEFITS PAYABLE UNDER THIS PLAN WERE FROZEN JANUARY 1, 2013 AND NO FUTURE SERVICE AND SALARY INCREASE BENEFITS CAN BE EARNED BY PARTICIPANTS AFTER THAT DATE. FORM 990, PART VI, SECTION A, LINE 6 UECU IS A NOT-FOR-PROFIT COOPERATIVE FINANCIAL INSTITUTION, OWNED BY ITS MEMBERS, OPERATED FOR THE PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES, AND PROVIDING OTHER FINANCIAL SERVICES TO ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OWN THE ORGANIZATION AND ELECT ALL MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THERE IS NO SPECIFIC CLASS FOR ANY MEMBER. EACH MEMBER HAS EQUAL VOTING RIGHTS WHEN MAKING DECISIONS. DECISIONS THAT REQUIRE APPROVAL INCLUDE AMENDMENT OF BYLAWS AND ELECTION OF OFFICIALS (BOARD OF DIRECTORS). FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTANT. THE FORM 990 WAS REVIEWED BY THE CONTROLLER, CFO, AND CEO. IN ADDITION, THE ADMINISTRATIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FORM PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BUSINESS ETHICS POLICY PROVIDED AND REVIEWED WITH NEW EMPLOYEES AND VOLUNTEERS (BOARD OF DIRECTORS AND AUDIT COMMITTEE). ON AN ANNUAL BASIS, EACH EMPLOYEE AND VOLUNTEER MUST FILE A STATEMENT ACKNOWLEDGING RECEIPT OF THE MOST RECENT POLICY AND COMPLIANCE WITH THE POLICY. THE AFFIRMATION IS MAINTAINED BY THE CREDIT UNION'S IN-HOUSE LEGAL COUNSEL. THE PRESIDENT/CEO HAS AUTHORITY TO RESOLVE QUESTIONS DEALING WITH CONFLICTS OF INTEREST. SUSPECTED CONFLICTS MAY ALSO BE REPORTED TO THE CREDIT UNION'S SUPERVISORY (AUDIT) COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE ADMINISTRATIVE COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY REVIEWS AND APPROVES THE CEO'S SALARY AND INCENTIVE COMPENSATION PROGRAM/PAYMENT. THE COMMITTEE ALSO ASSISTS THE CEO IN EVALUATING THE MARKET AND ESTABLISHING COMPENSATION PACKAGES FOR THE EXECUTIVE MANAGEMENT TEAM. THE COMMITTEE EMPLOYS THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT IN FULFILLING ITS RESPONSIBILITIES. THE CONSULTANT PROVIDES AN ANNUAL EXECUTIVE COMPENSATION UPDATE THAT ALLOWS THE COMMITTEE TO MONITOR TRENDS IN THE CREDIT UNION INDUSTRY TO ENSURE THE CEO AND EXECUTIVE TEAM COMPENSATION REMAIN IN AN APPROPRIATE RELATIONSHIP TO THE MARKET, IN ACCORDANCE WITH THE CREDIT UNION'S COMPENSATION PHILOSOPHY. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S ANNUAL REPORT IS PUBLISHED ON THE ORGANIZATION'S WEBSITE. COPIES ARE ALSO MADE AVAILABLE TO MEMBERS, UPON REQUEST. THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 24E ATM EXPENSES 215,677. MAINTENANCE/REPAIRS 197,362. MISCELLANEOUS EXP 108,607. FORM 990, PART XI, LINE 9: NET CHANGE IN DEFINED BENEFIT PENSION PLAN -195,362. NET CHANGE IN POST-RETIREMENT HEALTHCARE PLAN -105,025. 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. ADVANTAGE FINANCIAL SERVICES LLC 11 MERIDIAN BLVD WYOMISSING PA 19610 271678918 CLERICAL, PROFESSIONAL & MANAGEMENT SERVICES PA 103 26495 UTILITIES EMPLOYEES CU