2014-11-07T09:12:07-06:00 2013-12-31 EISNERAMPER LLP 750 THIRD AVENUE NEW YORK NY 100172703 990 2013-01-01 135261470 MUNICIPAL CREDIT UNION % MUNICIPAL CREDIT UNION MUNI 2122383336 22 CORTLANDT ST 26TH FLOOR Suite NEW YORK NY 10007 LINDA LAMBERT VP/ACCOUNTING 2122383334 2014-10-15 true MARIE ARRIGO P00058583 2122383334 2013 2015-11-30 17:44:51Z KAM WONG 22 CORTLANDT STREET NEW YORK NY 10007 127165605 false X WWW.NYMCU.ORG X 1916 NY BUILD LIFETIME FINANCIAL RLATIONSHIPS WITH EACH MEMBER PROVIDING COMPETITIVE PRODUCTS AND EXCELLENT SERVICES 18 18 749 23 4620664 1470138 0 0 121581482 125983105 1039984 1182500 0 0 122621466 127165605 213141 237289 0 0 54735813 58803062 0 0 0 63126167 65082504 118075121 124122855 4546345 3042750 1792352887 1954679441 1664451510 1825297926 127901377 129381515 BUILD LIFETIME FINANCIAL RELATIONSHIPS WITH EACH MEMBER PROVIDING COMPETITIVE PRODUCTS AND EXCELLENT SERVICES. false false DURING 2013 MCU OFFERED VARIOUS LOAN PRODUCTS TO ITS MEMBERS DURING 2013 MCU OFFERED VARIOUS DEPOSIT PRODUCTS TO ITS MEMBERS DURING 2013 MCU OFFERED VARIOUS OTHER SERVICES TO ITS MEMBERS SUCH AS ATM AND DEBIT CARD. false false false false false false false false false true false false true true false true false false false false false false false false false false true true true false false false false false false false false false false false false false false true 71727 0 true 749 true true true false false false false false X 18 18 false false false false true true true true true false false true true true true true true true true false X MUNICIPAL CREDIT UNION 2122383334 22 CORTLANDT STREET NEW YORK NY 10007 MARK S BRANTLEY CHAIRMAN 2.0 X 2295 0 0 SYLVIA ASH 1ST VICE CHAIR 2.0 X 5237 0 0 C RICHARD WAGNER 2ND VICE CHAIR 2.0 X 0 0 0 THOMAS E DIANA DIRECTOR EMERITUS 2.0 X 0 0 0 SHIRLEY JENKINS SECRETARY 2.0 X 0 0 0 S NANA OSEI-BONSU TREASURER 2.0 X 5464 0 0 JOY SCHWARTZ ASSISTANT SECRETARY 2.0 X 1041 0 0 JAMES DURRAH ASSISTANT TREASURER 2.0 X 0 0 0 MARIO MATOS DIRECTOR 2.0 X 0 0 0 ANGEL AUDIFFRED DIRECTOR 2.0 X 0 0 0 BERYL MAJOR DIRECTOR 2.0 X 0 0 0 TESSA HACKETT-VIEIRA DIRECTOR 2.0 X 2291 0 0 LORETTA JONES DIRECTOR 2.0 X 1597 0 0 CAROLL DUNCANSON 3RD VICE CHAIR 2.0 X 0 0 0 GIOVANNI PORCELLI SUPERVISORY CHAIRMAN 2.0 X 0 0 0 KAREN LUCAS SUPERVISORY SECRETARY 1.0 X 0 0 0 JOSEPH GAGLIARDO SUPERVISORY MEMBER 1.0 X 0 0 0 CHERYL WRIGHT SUPERVISORY MEMBER 1.0 X 0 0 0 ALMETA COAXUM SUPERVISORY MEMBER 1.0 X 0 0 0 KAM WONG PRESIDENT/CEO 60.0 X 1675830 0 135365 ANA PUELLO EXECUTIVE VP/CFO 60.0 X 498454 0 143548 NORMAN KOHN SVP/CHIEF CREDIT OFFICER 40.0 X 531833 0 32000 CAROLE PORTER SVP/RETAIL BANKING 40.0 X 340653 0 133238 RICHARD CASAMASSA SVP/MEMBER SERVICE OPERATIONS 40.0 X 336584 0 226780 THOMAS SICILIANO GENERAL COUNSEL 40.0 X 501626 0 155607 JANET PERKINS VP/CHIEF TECHNOLOGY 40.0 X 329980 0 86285 PHILIP VELTRE DEPUTY GENERAL COUNSEL 40.0 X 248676 0 152058 AHMED CAMPBELL VP/LOAN OPERATIONS 40.0 X 222219 0 76687 KIM THOMPSON VP/HUMAN RESOURCES 40.0 X 278526 60360 AMY KONG VP/RISK DEPARTMENT 40.0 X 209666 130028 5191972 0 1331956 48 false true false MAYORE ESTATES LLC 1177 AVENUE OF THE AMERICAS NEW YORK NY 10036 OFFICE LEASING 4599692 OCD MEDIA LLC 8 EAST 36TH STREET NEW YORK NY 10016 ADVERTISING 3642405 BROOKLYN BASEBALL CO LLC 1904 SURF AVENUE BROOKLYN NY 11224 OFFICE LEASING 827471 EISNERAMPER LLP 750 THIRD AVENUE NEW YORK NY 10017 AUDITING FIRM 505015 BROOKLYN RENAISSANCE PLAZA LLC 118-35 QUEENS BLVD FOREST HILLS NY 11375 OFFICE LEASING 466361 28 0 INTEREST INCOME ON MEMBER LOANS 522100 81340243 81340243 INSURANCE REIMBURSEMENT 522100 5582328 2427065 3155263 SERVICE FEES 522100 38549668 37084267 1465401 OTHER MISCELLANEOUS INCOME 522100 510866 510866 125983105 1182500 1182500 0 0 0 0 0 0 0 0 0 0 127165605 121362441 4620664 1182500 171289 66000 0 0 4729443 0 35818343 7597574 7586659 3071043 0 199940 535263 0 0 0 2711901 6623483 12897929 3212669 0 10805516 739528 0 1524814 0 0 5591527 988819 PROVISION FOR LOAN LOSSES 2996551 DEBIT AND CREDIT CARD EXPENSE 4390923 COLLECTION AND CREDIT EXPENSES 3740583 DIVIDEND EXPENSES 5219346 2903712 124122855 208775683 221218093 256580223 241295263 0 0 1193073649 1264277898 0 0 0 0 0 0 0 0 27535086 51776052 48886116 33143813 15947729 15742303 54279993 54330053 0 0 0 0 0 0 36160524 106039779 1792352887 1954679441 39561687 42296454 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1624889823 1783001472 1664451510 1825297926 X 0 0 61580433 61580433 66320944 67801082 127901377 129381515 1792352887 1954679441 X 3042750 -1562612 X false true X true false 20717734 12993760 7723974 28168382 20150053 8018329 15742303 ACCRUED INTEREST RECEIVABLE 4170675 NCUSIF DEPOSIT 17396809 PR DEPOSIT RECEIVABLE 78052528 OTHER RECEIVABLE 3229162 OTHER ASSETS 3190605 106039779 0 MEMBER DEPOSIT 1783001472 1783001472 118949708 118949708 8215897 8215897 127165605 115906958 115906958 8215897 8215897 124122855 FORM 990, SCHEDULE D, PART X, QUESTION 2: THE CREDIT UNION IS EXEMPT FROM FEDERAL, NEW YORK STATE AND CITY INCOME TAXES. HOWEVER, CERTAIN INCOME SUCH AS ATM FEES EARNED FROM NON-MEMBERS AND EXPENSE REIMBURSEMENTS ON INSURANCE SOLD THROUGH BRANCHES, IS SUBJECT TO INCOME TAXES. THESE TAXES WERE NOT MATERIAL TO THE FINANCIAL STATEMENTS AND ARE INCLUDED IN OTHER EXPENSES. THEREFORE, NO FIN48 FOOTNOTE WAS PROVIDED IN ORGANIZATION'S FINANCIAL STATEMENT. FORM 990, SCHEDULE D, PART XI, LINE 4B & PART XII, LINE 4B $5,219,346 OF DIVIDEND EXPENSE AND $2,996,551 OF LOAN LOSS PROVISION EXPENSE TOTALING $8,215,897 REDUCED GROSS REVENUE PER AUDIT STATEMENTS. AS SUCH, THE EXPENSES WERE NOT ACCOUNTED FOR AS EXPENSE ON THE FINANCIAL STATEMENTS. true MAKE THE GRADE FOUNDATION 244 MADISON AVE500 NEW YORK NY 10016 141909228 501(C)3 25000 SEE PART IV WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 396093210 501(C)3 7000 SEE PART IV AFRICAN AMERICAN CREDIT UNION COALITION PO BOX 1612 SHREVEPORT LA 71165 571091138 501(C)3 15000 SEE PART IV AACUC - EASTERN REGION CHAPTER 7 E REDWOOD STREET BALTIMORE MD 21202 571091138 501(C)3 7500 SEE PART IV AMERICAN CANCER SOCIETY INC 2 LYON PLACE WHITE PLAINS NY 10451 131788491 501(C)3 9620 SEE PART IV NEW YORK CREDIT UNION FOUNDATION 1021 WALVLIET SKATER RD ALBANY NY 11205 161527073 501(C)3 15000 SEE PART IV 6 0 SCHOLARSHIPS FOR STUDENTS (MEMBERS) 21 66000 DEBORAH A . BELMONTE 1 15000 FORM 990, SCHEDULE I, PART I, QUESTION #2 THE CHECKS FOR THE SCHOLARSHIP WINNERS ARE MADE PAYABLE TO THE STUDENT (MEMBER) AND THE COLLEGE THE STUDENT WILL ATTEND. THE CHECK FOR DEBORAH A BELMONTER WAS A DONATION FROM MCU TO ASSIST THE FAMILY IN FUNERAL PREPARATION OF A MCU EMPLOYEE. FORM 990, SCHEDULE I, PART II GRANT 1: MAKE THE GRADE FOUNDATION-DONATION TO AN ORGANIZATION THAT FACILITIES AND ENCOURAGES ACADEMIC ACHIEVEMENT BY IMPLEMENTING PROGRAMS TO EDUCATE, TUTOR AND MENTOR STUDENTS. GRANT 2: WORLDWIDE FOUNDATION FOR CREDIT UNIONS - RAISES AWARENESS OF CREDIT UNIONS AND FINANCIAL COOPERATIVE WORLDWIDE. GRANT 3: AFRICAN AMERICAN CREDIT UNION COALITION (AACUC) - DONATION TO STRENGTHEN THE CREDIT UNION MOVEMENTS. GRANT 4: AACUC EASTERN REGION CHAPTER - DONATION IS TO IMPROVE THE LITERACY TO THE AFRICAN AMERICAN COMMUNITIES. GRANT 5: AMERICAN CANCER SOCIETY EASTERN DIVISION-DONATION MAKING STRIDES AGAINST BREAST CANCER. GRAND 6: NEW YORK CREDIT UNION FOUNDATION - DONATION IS TO BUILD FINANCIAL INDEPENDENCE AMONG NEW YORKERS. X true true X X false false false KAM WONG PRESIDENT/CEO 830883 0 802850 0 42097 0 103365 0 32000 0 1811195 0 0 ANA PUELLO EXECUTIVE VP/CFO 286214 0 200000 0 12240 0 130411 0 13137 0 642002 0 NORMAN KOHN SVP/CHIEF CREDIT OFFICER 294595 0 200000 0 37238 0 0 32000 0 563833 0 0 CAROLE PORTER SVP/RETAIL BANKING 226478 0 100000 0 14175 0 120101 0 13137 0 473891 0 0 RICHARD CASAMASSA SVP/MEMBER SERVICE OPERATIONS 198836 0 125000 0 12748 0 194924 0 31856 0 563364 0 0 THOMAS SICILIANO GENERAL COUNSEL 287152 0 200000 0 14474 0 123607 0 32000 0 657233 0 0 JANET PERKINS VP/CHIEF TECHNOLOGY 271326 0 45000 0 13654 0 73148 0 13137 0 416265 0 0 PHILIP VELTRE DEPUTY GENERAL COUNSEL 188510 0 55000 0 5166 0 120150 0 31908 0 400734 0 0 AHMED CAMPBELL VP/LOAN OPERATIONS 174219 0 48000 0 0 44812 0 31875 0 298906 0 0 KIM THOMPSON VP/HUMAN RESOURCES 194381 75000 9145 47347 13013 338886 AMY KONG VP/RISK DEPARTMENT 169666 40000 98172 31856 339694 PART I LINE 1B THE COMPENSATION COMMITTEE (MADE UP OF THE BOARD OF DIRECTORS) REVIEWS THE PRESIDENT/CEO'S EMPLOYMENT CONTRACT PRIOR TO EXECUTION BY THE BOARD. PART I LINE 1A MUNICIPAL CREDIT UNION PROVIDES THE BENEFIT OF PAYING FOR THE TRAVEL OF COMPANIONS TO ITS BOARD OF DIRECTORS WHEN THEY ARE TRAVELING FOR CONFERENCES AND MEETINGS RELATED TO THE ORGANIZATION. THE AMOUNT PAID FOR THIS BENEFIT IS REPORTED ON A FORM 1099-MISC TO THE GUEST THAT IS BROUGHT ALONG. FORM 990, PART VI, SECTION A, QUESTIONS 7A & 7B THIS IS ONLY TRUE IN VERY LIMITED SITUATIONS FORM 990, PART VI, SECTION B, QUESTION 11B THE FORM WAS REVIEWED BY THE CEO AND THE FISCAL COMMITEE AND THEN SHARED WITH OTHER BOARD MEMBERS FORM 990, PART VI, SECTION B, QUESTION 12C MUNICIPAL CREDIT UNION HAS INTERNAL AS WELL AS EXTERNAL AUDITS. IN ADDITION, THE SECRETARY OF THE BOARD ANNUALLY SENDS OUT A REQUEST OF DISCLOSURE OF INSIDER ACCOUNTS TO MANAGEMENT AND THE BOARD. FURTHERMORE, THE HUMAN RESOURCES DEPARTMENT SENDS OUT A DISCLOSURE OF RELATIVES FORM TO ALL EMPLOYEES. FORM 990, PART VI, SECTION C, QUESTION 19 FINANCIAL STATEMENTS ARE AVAILABLE ON WEBSITE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NETS ASSETS, OR FUND BALANCES: CHANGE IN POST RETIREMENT BENEFIT ASSET ($308,882) CHANGE IN PENSION BENEFIT ASSET 1,871,494 TOTAL CHANGE IN NET ASSETS ($1,562,612) FORM 990, PART VI, SECTION B, QUESTIONS 15A & 15B TED TRUNASELLA, COMPENSATION CONSULTANT HAS CONDUCTED AN EXTENSIVE REVIEW AND PROVIDED RECOMMENDATIONS.