2015-11-16T14:09:40-06:00 2014-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2014-01-01 520627114 STATE EMPLOYEES CREDIT UNION OF MARYLAND INC STAT 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 STEVEN ARBAUGH CFO 4104877328 2015-11-12 1 GERALD B KISSELL P00092658 6123324300 2014 2016-03-07 17:11:31Z STEVEN ARBAUGH 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 268358454 0 X WWW.SECUMD.ORG X 1951 MD SECU'S MAIN PURPOSE IS TO PROMOTE THRIFT AMONG AND TO CREATE A SOURCE OF CREDIT FOR ITS MEMBERS. SECU DOES SO BY PROVIDING MARYLANDERS WITH PRODUCTS, SERVICES AND STATE OF THE ART TECHNOLOGY DESIGNED TO MEET ITS MEMBER FINANCIAL NEEDS. 9 9 611 95 778912 -13832 0 0 123300275 115606259 8606387 9282362 230814 391823 132137476 125280444 33000 93275 15816359 13941368 34360542 31501939 0 0 0 61737248 64699904 111947149 110236486 20190327 15043958 2687185704 2801596482 2424724962 2519231335 262460742 282365147 X TO MAKE A POSITIVE CONTRIBUTION TO THE FINANCIAL WELL-BEING OF THOSE WE SERVE. STATE EMPLOYEES CREDIT UNION OF MARYLAND, INC. (SECU) MUST BE KNOWN, VALUED, AND UTILIZED. 0 0 SECU PROVIDES DEPOSIT PRODUCTS AND SERVICES TO MEMBERS. THESE DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT AND INDIVIDUAL RETIREMENT ACCOUNTS. AS OF DECEMBER 31, 2014, SECU HAD 496,664 DEPOSIT ACCOUNTS OUTSTANDING. SECU'S DEPOSIT RATES CONTINUE TO BE SOME OF THE MOST COMPETITIVE RATES OFFERED BY FEDERALLY INSURED FINANCIAL INSTITUTIONS. SECU PROVIDES MORTGAGE AND CONSUMER LOANS TO MEMBERS AT COMPLETIVE RATES. THESE LOANS INCLUDE 1ST AND 2ND MORTGAGES, HOME EQUITY LINES OF CREDIT, CREDIT CARD, UNSECURED LINES OF CREDIT, NEW AND USED AUTO LOANS, STUDENT LOANS AND BUSINESS LOANS. AS OF DECEMBER 31, 2014, SECU HAD 113,601 LOANS OUTSTANDING TO MEMBERS TOTALING $2.097 BILLION. IN 2014 SECU PROVIDED ADULT AND YOUTH FINANCIAL EDUCATION SERVICES SUCH AS WORKING WITH SCHOOLS AND SELECT EMPLOYER GROUPS. SECU OFFERS ONLINE AND MOBILE BANKING SERVICES TO MEMBERS IN ADDITION TO 22 BRANCHES AND 109 AUTOMATED TELLER MACHINES THROUGHOUT THE STATE. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 67753 0 1 611 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X STEVEN ARBAUGH 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 JOHN KENNEY CHAIR (1/1-6/30) 1.00 X X 23329 0 0 DONALD TYNES VICE CHAIR(1/1-6/30)/CHAIR(7/1-12/31) 1.00 X X 27418 0 0 JANET BACON SECRETARY (1/1-6/30) 1.00 X X 20116 0 0 ELLEN GARDNER TREASURER (1/1-6/30) 1.00 X X 18256 0 0 GAYLE SEWARD DIRECTOR/TREASURER (7/1-12/31) 1.00 X X 25980 0 0 SHARONNE BONARDI DIRECTOR/SECRETARY (7/1-6/30) 1.00 X X 19925 0 0 MARK REGER DIRECTOR/VICE CHAIR (7/1-12/31) 1.00 X X 20356 0 0 TIMOTHY LAVALLE DIRECTOR 1.00 X 20061 0 0 JUANCHO BIANO DIRECTOR 1.00 X 15925 0 0 RODNEY STAATZ CEO/PRESIDENT 40.00 X 801787 0 206634 STEVEN ARBAUGH CFO/VP OF FINANCE 40.00 X 261370 0 37269 MICHAEL GORDY EXECUTIVE VP/COO 40.00 X 330915 0 28983 MARGARET TUCKER SENIOR VP/MRBO 40.00 X 220850 0 25894 RODERIC FLOWERS VP OF HR 40.00 X 201102 0 38063 MARGARET YOUNG VP OF MARKETING 40.00 X 197865 0 33840 KEVIN KESECKER VP OF LENDING 40.00 X 214386 0 15520 JAMES POLCARO VP OF INFORMATION TECHNOLOGY 40.00 X 197958 0 31398 JOHN ENA JR AVP, FINANCE 40.00 X 176581 0 15846 CHRISTOPHER GROSHKO AVP, RETAIL BANKING 40.00 X 161159 0 19795 JANE SILVESTRI AVP, STRATEGIC BUSINESS SOLUTIONS 40.00 X 166400 0 23456 RICHARD VIVOLA AVP, INTERNAL AUDIT 40.00 X 163534 0 33285 JOSELI WRIGHT AVP, RETAIL BANKING STRATEGY 40.00 X 170346 0 23889 3455619 0 533872 40 0 1 0 MORTGAGE INFORMATION SERVICES INC 4877 GALAXY PARKWAY SUITE I CLEVELAND OH 44128 APPRAISALS, SETTLEMENT SVCS 1508751 MORGAN-KELLER INC 70 THOMAS JOHNSON DRIVE SUITE 200 FREDERICK MD 21702 BRANCH MAINT/CONST MGMT 1325973 TARGET MEDIA INC 4750 LINDLE ROAD HARRISBURG PA 17111 MORTGAGE/HE APPRAISALS 984305 DUNBAR ARMORED INC PO BOX 64115 BALTIMORE MD 212644115 ARMORED COURIER 919752 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 MORTGAGE PROCESS/UNDERWRTG 881148 69 INTEREST ON LOANS 522100 84106831 84106831 SERVICE CHARGES INCOME 522100 22721047 21942135 778912 OTHER FEE INCOME 522100 8441299 8441299 EQUITY IN EARNINGS OF SUB 522100 337082 337082 115606259 7458701 7458701 961494 569671 391823 391823 391823 144332000 142342188 166151 1989812 -166151 1823661 1823661 125280444 114827347 778912 9674185 X 65275 28000 13941368 3153883 21946631 1257789 3169571 1974065 317307 13443833 2678094 1587063 14425706 3326061 212459 414342 198409 4852091 971683 PROVISION FOR LOAN LOSS 7162520 CHECKING SERVICES/NETWO 3421476 POSTAGE/COURIER 2239312 LENDING SERVICES 1612404 7837144 110236486 235497279 144476064 1966328973 2088704286 98298844 53724361 44100408 44574483 402180649 478829902 10373697 9644347 28704698 35367400 2687185704 2801596482 16256140 17971817 5310815 4787597 2403158007 2496471921 2424724962 2519231335 X 0 0 0 0 262460742 282365147 262460742 282365147 2687185704 2801596482 X 15043958 4730489 129958 X 0 1 X 1 0 0 1 X 12632615 12632615 29277747 9735768 19541979 11519066 6743130 4775936 44642574 37245463 7397111 226842 226842 44574483 AVAILABLE-FOR-SALE SECURITIES 444737393 F SECURITIES HELD-TO-MATURITY 9515004 F NATIONAL CREDIT UNION SHARE FUND DEPOSIT 24577505 F 478829902 SHARES AND DEPOSITS 2495124624 ACCRUED DIVIDENDS AND INTEREST PAYABLE 1347297 2496471921 X 125850114 0 125850114 -569671 -569671 125280443 110806156 569671 569671 110236485 0 110236485 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND REAL ESTATE TAXES ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. PART X, LINE 2: THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2014 AND 2013. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES RECLASSED TO REVENUE -569,671. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES RECLASSED TO REVENUE 569,671. 1 UNITED WAY OF CENTRAL MD 100 SOUTH CHARLES STREET BALTIMORE MD 212031576 520591543 501(C)(3) 6000 PROGRAM SUPPORT CU MIRACLE DAYCHILDREN'S MIRACLE NETWORK PO BOX 27637 WASHINGTON DC 200387637 522341329 501(C)(3) 10000 PROGRAM SUPPORT WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT ROAD MADISON WI 537054493 396093210 501(C)(3) 8250 PROGRAM SUPPORT CREDIT UNION FOUNDATION OF MD & DC PO BOX 78880 MILWAUKEE WI 532780880 521749045 501(C)(3) 25000 PROGRAM SUPPORT UNIVERSITY OF MD MEDICAL SYSTEM FOUNDATION 110 S PACA STREET 9TH FLOOR BALTIMORE MD 21201 522238893 501(C)(3) 11025 PROGRAM SUPPORT UNIVERSITY OF MD ST JOSEPH MEDICAL CENTER 7601 OSLER DRIVE JORDAN CENTER SUITE 158 TOWSON MD 21204 521681044 501(C)(3) 5000 PROGRAM SUPPORT PROGRAM SUPPORT 6 0 SCHOLARSHIPS 14 28000 PART I, LINE 2: THERE IS A COMMITTEE WHO READS THE ESSAYS THAT ARE SUBMITTED BY THE CHILDREN OF MARYLAND STATE EMPLOYEES. THE WINNERS OF THE SCHOLARSHIPS ARE CHOSEN BY THE COMMITTEE. CHECKS ARE ISSUED DIRECTLY TO THE SCHOOL, REFERENCING THE STUDENT'S NAME. THERE IS NO ADDITIONAL MONITORING OF THE FUNDS. X X X X X 0 1 0 RODNEY STAATZ CEO/PRESIDENT 544024 0 143969 0 113794 0 188266 0 22017 0 1012070 0 89338 0 STEVEN ARBAUGH CFO/VP OF FINANCE 206816 0 51200 0 3354 0 21932 0 20545 0 303847 0 0 0 MICHAEL GORDY EXECUTIVE VP/COO 258770 0 69905 0 2240 0 22228 0 10573 0 363716 0 0 0 MARGARET TUCKER SENIOR VP/MRBO 175836 0 42297 0 2717 0 18889 0 11033 0 250772 0 0 0 RODERIC FLOWERS VP OF HR 158376 0 41426 0 1300 0 16108 0 25801 0 243011 0 0 0 MARGARET YOUNG VP OF MARKETING 154375 0 41727 0 1763 0 16662 0 18529 0 233056 0 0 0 KEVIN KESECKER VP OF LENDING 184995 0 27648 0 1743 0 15000 0 1971 0 231357 0 0 0 JAMES POLCARO VP OF INFORMATION TECHNOLOGY 180136 0 16332 0 1490 0 11401 0 21448 0 230807 0 0 0 JOHN ENA JR AVP, FINANCE 138681 0 37160 0 740 0 15105 0 1787 0 193473 0 0 0 CHRISTOPHER GROSHKO AVP, RETAIL BANKING 134999 0 25883 0 277 0 13273 0 7561 0 181993 0 0 0 JANE SILVESTRI AVP, STRATEGIC BUSINESS SOLUTIONS 140838 0 24506 0 1056 0 15087 0 9427 0 190914 0 0 0 RICHARD VIVOLA AVP, INTERNAL AUDIT 144809 0 17663 0 1062 0 13900 0 20455 0 197889 0 0 0 JOSELI WRIGHT AVP, RETAIL BANKING STRATEGY 143397 0 26643 0 306 0 14389 0 10563 0 195298 0 0 0 PART I, LINE 4B RODNEY STAATZ, PRESIDENT/CEO, PARTICIPATES IN A NON-QUALIFIED RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS DURING 2014. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE CFO AND CONTROLLER PRIOR TO FILING WITH THE IRS. A COPY WILL ALSO BE PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C SECU ADMINISTRATION AND INTERNAL AUDIT HANDLE THE CREATION, MAILING AND COLLECTION OF THE ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES TO THE MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, CREDIT COMMITTEE, VPS AND OTHER KEY EMPLOYEES (AS DESIGNATED BY THE CEO). FORM 990, PART VI, SECTION B, LINE 15 FOR VP LEVEL EMPLOYEES, THE PRESIDENT/CEO CONTROLS DECISIONS, WITH THE BOARD BEING INFORMED OF THE DECISION, BUT NOT FORMALLY INVOLVED. THE CEO USES EXTERNAL SOURCES FOR VP SALARY MARKET DATA. THE CEO REVIEWS THIS DATA AND SETS VP MARKET SALARIES IN CONJUNCTION WITH THE VP OF HR. ANNUALLY THE BOARD MEETS WITH A CREDIT UNION INDUSTRY CONSULTANT TO REVIEW THE CEO COMPENSATION PLAN. CEO COMPARISON DATA ALONG WITH PERFORMANCE IS USED TO DETERMINE SALARY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES 13,443,833. FORM 990, PART XI, LINE 9: CHANGE IN UNAMORTIZED LOSSES IN THE POST-RETIREMENT HEALTH PLAN 129,958. SECU TITLE 971 CORPORATE BLVD LINTHICUM MD 21090 463163747 TITLE SERVICES MD 19573 110910 STATE EMPLOYEES CREDIT UNION OF MARYLAND INC SECURITY FINANCIAL GROUP 971 CORPORATE BOULEVARD LINTHICUM MD 21090 521804772 INSURANCE SALES MD STATE EMPLOYEES CREDIT UNION OF MARYLAND C 50073 676745 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0