2014-11-03T10:54:45-06:00 2013-12-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2013-01-01 230961140 PENNSYLVANIA STATE EMPLOYEES CREDIT UNION % CAROL NOBLIT PENN 8002377328 1500 ELMERTON AVENUE Suite HARRISBURG PA 17110 CAROL NOBLIT ACTING VP FINANCE 8002377328 2014-11-03 true ERIC M MCNEIL P00460263 8002377328 2013 2015-11-30 17:44:51Z GREGORY A SMITH 1500 ELMERTON AVENUE HARRISBURG PA 17110 253809445 false X WWW.PSECU.COM X 1933 PA ATTACHMENT 1 9 9 768 1188006 -420169 0 0 175624470 174661864 9074409 6858500 8004383 9685636 192703262 191206000 164500 154775 0 0 46634459 43798585 0 0 0 114882080 129776705 161681039 173730065 31022223 17475935 4004851873 4119052160 3624509496 3694917360 380342377 424134800 X THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION ("PSECU") IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM, AT LEGITIMATE RATES OF INTEREST, FOR PROVIDENT PURPOSES. IN ACCOMPLISHING ITS PURPOSES, PSECU CONTINUALLY STRIVES TO MAINTAIN A PROGRESSIVE AND FINANCIALLY STABLE CREDIT UNION THAT GIVES PSECU MEMBERS CONTROL OVER THEIR FINANCES. PSECU ALSO PROVIDES MEMBERS WITH A VARIETY OF HIGH QUALITY TRADITIONAL AND INNOVATIVE FINANCIAL PRODUCTS AND SERVICES, WHICH ARE CONVENIENT, WITH SUPERIOR PRICING AND AVAILABLE THROUGH SELF-SERVICE DELIVERY CHANNELS. false false As of December 31, 2013, the Pennsylvania State Employees Credit Union has 413,345 members to whom it provides deposit and loan services. There were 289,628 loans with balances of $2,901,201,815 outstanding at December 31, 2013. Share deposits were $3,664,581,484. PSECU strives to provide its members with high quality, convenient financial products and services with superior pricing. false false false false false false false true false true false false false true true true false false false false false false false false false false true false true false false false false false false false false false false false false false false true 297 0 true 768 true true true false false false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X X CAROL NOBLIT 7177772049 1500 ELMERTON AVE HARRISBURG PA 17110 R BRIAN WILBUR DIRECTOR 8.0 X 14194 0 0 GEORGE J WEST DIRECTOR 8.0 X 15751 0 0 FRANK J BREINER DIRECTOR 8.0 X 17882 0 0 KATHLEEN A SALMON DIRECTOR 8.0 X 13446 0 0 JOSEPH A LAWRUK DIRECTOR 9.0 X 16905 0 0 JOSEPH SASSANO DIRECTOR 9.0 X 18350 0 0 JODI LYNNE BLANCH DIRECTOR 9.0 X 15081 0 0 TIMOTHY D GRUNSTRA DIRECTOR 8.0 X 12460 0 0 MICHAEL FERSTER DIRECTOR 9.0 X 13530 0 0 GREGORY A SMITH CEO 37.5 X 798964 0 185620 SCOTT W RHOADS CFO 37.5 X 234073 0 58090 RICHARD L LONG VP 37.5 X 266915 0 34585 WILLIAM C ZYSK VP 37.5 X 267496 0 53094 DAVID WARWAVESYN VP 37.5 X 262439 0 68507 THOMAS J RUBACK VP 37.5 X 253036 0 53002 BARBARA J BOWKER VP 37.5 X 247660 0 46535 FREDERICK F COFFROTH VP 37.5 X 208804 0 47670 CATHERINE M TAMA-TROUTMAN VP 37.5 X 208727 0 39158 KIMBERLY M FRANK VP 37.5 X 207589 0 47098 SCOTT J DAVIS AVP 37.5 X 160558 0 37774 JODI L HARNER AVP 37.5 X 159011 0 35242 3412871 0 706375 30 false true false PRICEWATERHOUSECOOPERS LLP PO BOX 7247 PHILADELPHIA PA 19170 AUDIT & TAX 272527 PENNEBAKER'S CLEANING 1609 CARLISLE ROAD CAMP HILL PA 17011 JANITORIAL SERVICES 255832 VENTUS NETWORKS LLC 10 NORDEN PLACE NORWALK CT 06855 NETWORK SERVICES 245899 RSA SECURITY 174 MIDDLESEX TURNPIKE BEDFORD MA 01730 COMPUTER SECURITY 217720 BARLEY SNYDER LLC 126 E KING ST LANCASTER PA 17602 COLLECTION SERVICES 184954 11 0 INTEREST ON LOANS TO MEMBERS 522100 144624909 144624909 INTERCHANGE FEES 522100 22297749 22297749 ATM FEES 522200 5004593 3866394 1138199 CHECKING ACCOUNTS 522100 2734613 2734613 174661864 6667897 6667897 0 0 516011 394793 121218 0 121218 121218 62399255 62208652 190603 190603 190603 0 0 0 OTHER INCOME 900099 9564418 9514611 49807 9564418 191206000 183038276 1188006 6979718 154775 0 0 0 4119246 0 27092357 3290091 6673127 2623764 0 93224 347689 0 0 0 3017900 4726018 7854684 3093964 0 4700958 564008 0 0 23027915 0 4906971 1143252 PROVISION FOR LOAN LOSSES 36599103 RELATIONSHIP REWARD 10010345 ATM EXPENSE 12740727 CHECK CARD PROGRAM EXPENSE 5148338 11801609 173730065 592505863 662307993 201520295 82604018 0 0 0 0 0 0 0 0 2711411510 2853113014 0 0 0 0 116650524 33174044 63670749 83476480 346194116 356131077 16057337 1000000 0 0 0 0 73492003 80419578 4004851873 4119052160 1602950 2204095 0 0 0 0 0 0 3826418 3983971 0 0 0 0 0 0 3619080128 3688729294 3624509496 3694917360 X 0 0 636432 672140 379705945 423462660 380342377 424134800 4004851873 4119052160 X 17475935 23016316 3300172 X false true X true false false true X 4563927 4563927 67625761 1372417 66253344 797527 744674 52853 29686530 19196482 10490048 13976779 11860471 2116308 83476480 481040 MEMBERS' SHARES 3660597484 OTHER LIABILITIES 27650770 3688729294 X 191206000 191206000 191206000 173730065 173730065 173730065 PART IV, LINE 2B ESCROW ACCOUNTS ARE HELD FOR MORTGAGE LOANS. PART X THE CREDIT UNION IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME. INTEREST RELATED TO TAX UNCERTAINTIES IS CLASSIFIED AS INCOME TAX EXPENSE, WHICH IS INCLUDED IN OTHER OPERATING EXPENSES ON THE STATEMENTS OF INCOME. A RECONCILIATION OF THE BEGINNING AND ENDING AMOUNT OF TAX LIABILITY IS AS FOLLOWS: 2013 2012 BALANCE AT BEGINNING OF YEAR $467,000 $443,000 INCREASES BASED ON TAX POSITION RELATED TO THE CURRENT YEAR 14,000 24,000 ------- ------- BALANCES AT END OF YEAR $481,000 $467,000 ======== ======== true AMERICAN HEART ASSOCIATION 7272 GREENVILLE AVE DALLAS TX 75231 135613797 501(c)(3) 37575 GENERAL DONATION CHILDREN'S MIRACLE NETWORK 4525 S 2300 EAST SALT LAKE CITY UT 84117 670387305 501(c)(3) 12000 GENERAL DONATION LEADERSHIP HARRISBURG AREA 3211 N FRONT ST HARRISBURGH PA 17110 251583596 501(C)(3) 7500 GENERAL DONATION HARRISBURG CITY 10 N 2ND ST HARRISBURG PA 17101 236002010 HARRISBURG CITY 7500 COMMUNITY EVENTS PA CREDIT UNION FOUNDATION 4309 N FRONT ST HARRIBSURG PA 17106 251786339 501(c)(3) 10000 GENERAL DONATION CENTRAL PA FOODBANK 3908 COREY RD HARRISBURG PA 17109 232202250 501(C)(3) 13800 GENERAL DONATION WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 396093210 501(c)(3) 14000 GENERAL DONATION Junior Achievement 610 S George St York PA 17403 231598129 501(c)(3) 9000 General Donation CAITLIN'S SMILES 3303 N SIXTH ST HARRISBURG PA 17110 562615399 501(C)(3) 7500 GENERAL DONATION 9 0 PART I, QUESTION 2 THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION PROVIDES CHARITABLE CONTRIBUTIONS TO QUALIFIED U.S. ORGANIZATIONS AFTER REVIEW OF THEIR FORM 990 TO VERIFY TAX-EXEMPT STATUS. X true true X X X X X false true false GREGORY A SMITH CEO 538519 0 169397 0 91048 0 167013 0 18607 0 984584 0 0 0 SCOTT W RHOADS CFO 194961 0 35219 0 3893 0 37650 0 20440 0 292163 0 0 0 RICHARD L LONG VP 223945 0 33293 0 9677 0 28869 0 5716 0 301500 0 0 0 WILLIAM C ZYSK VP 221979 0 33293 0 12224 0 36037 0 17057 0 320590 0 0 0 DAVID WARWAVESYN VP 215800 0 33293 0 13346 0 48501 0 20006 0 330946 0 0 0 THOMAS J RUBACK VP 210260 0 33293 0 9483 0 37037 0 15965 0 306038 0 0 0 BARBARA J BOWKER VP 205520 0 33293 0 8847 0 27565 0 18970 0 294195 0 0 0 FREDERICK F COFFROTH VP 176065 0 22434 0 10305 0 29550 0 18120 0 256474 0 0 0 CATHERINE M TAMA-TROUTMAN VP 177370 0 22434 0 8923 0 30604 0 8554 0 247885 0 0 0 KIMBERLY M FRANK VP 175390 0 22434 0 9765 0 31477 0 15621 0 254687 0 0 0 SCOTT J DAVIS AVP 137549 0 15211 0 7798 0 18133 0 19641 0 198332 0 0 0 JODI L HARNER AVP 136145 0 15211 0 7655 0 17732 0 17510 0 194253 0 0 0 PART I,LINE 4(B) GREGORY SMITH PARTICIPATED IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS, FOR WHICH EXPENSE OF $101,786 WAS INCURRED IN 2013. PART VI, QUESTION 6 All PSECU members may exercise the right as an owner/member and vote in PSECU's annual election of the Board of Directors and Credit Committee members. PART VI, QUESTION 7A All PSECU members may exercise the right as an owner/member and vote in PSECU's annual election of the Board of Directors and Credit Committee members. PART VI, QUESTION 7B PSECU is a federally insured, state chartered credit union, the actions of which are subject to both state and federal regulations. As detailed in Title 17 of PA Consolidated Statutes, any fundamental corporate change is subject to membership vote. PART VI, QUESTION 11A THE FORM 990 IS PREPARED BY MANAGEMENT AND REVIEWED BY A THIRD PARTY ACCOUNTING FIRM. EACH DIRECTOR RECEIVES A COPY OF THE FORM 990 WHICH IS REVIEWED AT A BOARD MEETING HELD PRIOR TO THE FILING OF THE FORM 990. PART VI, QUESTION 12C ALL SENIOR MANAGEMENT AND DIRECTORS OF PSECU ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE WHICH MUST BE UPDATED ON AN ANNUAL BASIS. IN ADDITION, THESE INDIVIDUALS ARE RESPONSIBLE FOR NOTIFYING PSECU'S INTERNAL AUDIT SERVICES OF POTENTIAL OR ACTUAL CONFLICTS OF INTEREST AS THEY OCCUR. PART VI, QUESTION 15 PSECU'S BOARD OF DIRECTORS OVERSEES THE PRACTICES AND DESIGN OF PSECU'S EXECUTIVE COMPENSATION PROGRAM. THIS PROCESS CONSIDERS, BUT IS NOT LIMITED TO, AN ANNUAL BENCHMARKING REVIEW, EVALUATION OF EXECUTIVE PERFORMANCE, AND ASSESSMENT OF INCENTIVE COMPENSATION TO ENSURE THAT IT DOES NOT ENCOURAGE EXCESSIVE OR UNNECESSARY RISK TAKING. THE KEY COMPONENTS OF OUR EXECUTIVE COMPENSATION CONSIST OF BASE SALARY AND CASH INCENTIVES. THE INCENTIVES ARE LARGELY SET AROUND KEY PERFORMANCE OBJECTIVES SUCH AS ENSURING THE EFFICIENCY OF OPERATIONS, GROWTH IN MEMBERS AND LOANS, FINANCIAL SOUNDNESS, AND OTHER QUALITATIVE MEASURES. PART VI, QUESTION 19 PSECU MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMPANY'S WEBSITE. PART XI, LINE 9 ADDITIONAL PAID-IN CAPITAL $ 35,710 PENSION AND POST-RETIREMENT ADJUSTMENTS 3,264,462 ----------- TOTAL 3,300,172