2014-11-17T22:15:22-06:00 2013-12-31 261694946 SCHWARTZ COLE AND ASSOCIATES LLC 11776 W SAMPLE RD STE 106 CORAL SPRINGS FL 330653180 990 2013-01-01 340825325 SEVEN SEVENTEEN CREDIT UNION INC SEVE 3303728100 3181 LARCHMONT AVE NE WARREN OH 44483 JEROME MCGEE CFO 3303728100 2014-11-17 true DANIEL J COLE P00055998 9547551760 2014-11-17 2013 2015-11-30 17:44:51Z JEROME MCGEE 3181 LARCHMONT AVE NE WARREN OH 44483 45836811 false X WWW.SSCU.NET X 1957 OH THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. 7 7 281 5 272716 98753 0 43342290 43227633 2755127 2609178 0 46097417 45836811 0 0 18302772 19000885 0 0 21758011 20336579 40060783 39337464 6036634 6499347 831486020 804455435 744174836 715567547 87311184 88887888 X THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. false false DIVIDENDS AND INTEREST PAID TO APPROXIMATELY 67,500 MEMBERS ON THEIR SHARE ACCOUNTS, MONEY MAKET ACCOUNTS, AND CERTIFICATE OF DEPOSIT ACCOUNTS. EMPLOYEE LABOR AND BENEFIT COSTS INCURRED TO SUPPORT SAVINGS SERVICES, LOAN ORIGINATIONS, AND SERVICING THE LOAN PORTFOLIO FOR ITS MEMBERS. OFFICE EXPENSE AND DATA PROCESSING EXPENSE NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITY BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICES. false false false false false false false false false true false false false true false false true false false false false false false false false false false false true false false false false false false false false false false false true false false true 18359 0 true 281 true true true false false false false false X 7 7 false false false false true true false true true false true true false true true true true true true true false X JEROME MCGEE 3303728100 3181 LARCHMONT AVE NE WARREN OH 44483 CHERYL DIGIACOBBE SEC TREAS 5.00 X 5720 0 0 RAYMOND MANOFSKY VICE CHAIRMA 5.00 X 3446 0 0 JACK WILSTER CHAIRMAN 5.00 X 2312 0 0 ARLENE MATHES DIRECTOR 1.50 X 1742 0 0 JOE NOARK 2ND VICE CHA 5.00 X 0 0 0 WILLIAM SKELISKI DIRECTOR 5.00 X 0 0 0 MICHAEL ROBINSON DIRECTOR 5.00 X 0 0 0 GARY SOUKENIK PRESIDENT & 45.00 X 463256 0 45900 CHERYL D'AMORE SENIOR VP, A 45.00 X 225698 0 44221 JEROME MCGEE EXECUTIVE VP 45.00 X 212781 0 42320 MICHAEL DONADIO SENIOR VP, L 45.00 X 183960 0 39766 PHILLIP SZEPIETOWSKI SENIOR VP, B 45.00 X 173554 0 37688 CAMILLE FAVRE SENIOR VP, H 45.00 X 153206 0 43666 ERIC LANHAM SENIOR VP MA 45.00 X 117812 0 17927 AARON FRANK LOAN ORIGINA 45.00 X 143243 0 21482 STEPHANIE PAPPADA LOAN ORIGINA 45.00 X 133723 0 20054 RONALD MINTUS IT MANAGER 45.00 X 128256 0 28511 DARLENE CESTA LENDING MNGR 45.00 X 122026 0 18565 SHELLY PAWCIO ACCTG. & FIN 45.00 X 106171 0 15242 2176906 375342 12 false true false PATRICIA SPENCER ATTY 8550 HIDDEN HILLS DR WARREN OH 44484 LEGAL 143153 AMERICAN LAND TITLE 815 YOUNGSTOWN-WARREN RD 2 NILES OH 44446 TITLE 132202 WELTMAN WEINBERG & REIS CO PO BOX 72245 CLEVELAND OH 44192 LEGAL 112529 VALLY TITLE & ESCROW PO BOX 1429 WARREN OH 44482 TITLE 101002 4 INTEREST ON LOANS 28832673 28832673 FEE INCOME 14122244 14122244 NON-MEMBER ATM FEES 900004 259443 259443 RENTAL 541511 11401 11401 RELATED CO PAYMENTS 900003 1872 1872 43227633 2609178 2609178 45836811 45564095 272716 1530267 9989251 2033618 4582543 865206 30389 42227 6625 71954 1759628 8489940 1497621 91860 89307 4534922 PROVISION FOR LOAN LOSSES 1794349 LOAN SERVICING 799032 NCUSIF STABILIZATION EXP 568372 PROFESSIONAL FEES 325479 234874 39337464 0 0 0 8786055 12736526 57668268 12397572 514122004 536054668 29033169 19359697 10053964 9673472 186210695 192485814 24693245 14114728 29951789 26992655 831486020 804455435 16704527 15763783 727470309 699803764 744174836 715567547 X 87311184 88887888 87311184 88887888 831486020 804455435 X 6499347 -4922643 X false true X true false 1551962 1551962 14835014 8335129 6499885 3705625 3271403 434222 8898776 7753165 1145611 41792 41792 9673472 MONEY MARKET ACCOUNTS 225280409 SHARE ACCOUNTS 188863311 SHARE CERTIFICATE ACCOUNTS 104137543 SHARE DRAFT ACCOUNTS 97115509 IRA ACCOUNTS 63649728 OTHER SHARE ACCTS 20757264 NONMEMBER DEPOSITS 699803764 X X true true X X X X false false false GARY SOUKENIK PRESIDENT & CEO 366256 97000 45900 15935 509156 CHERYL D'AMORE SENIOR VP, ADMIN 203139 22559 44221 15935 269919 JEROME MCGEE EXECUTIVE VP CFO 179846 32935 42320 15935 255101 MICHAEL DONADIO SENIOR VP, LENDING 159155 24805 39766 15935 223726 PHILLIP SZEPIETOWSKI SENIOR VP, BRANCH 149918 23636 37688 15935 211242 CAMILLE FAVRE SENIOR VP, HUMAN RES 132158 21048 43666 15935 196872 AARON FRANK LOAN ORIGINATOR 36680 106563 21482 15935 164725 STEPHANIE PAPPADA LOAN ORIGINATOR 31882 101841 20054 153777 RONALD MINTUS IT MANAGER 115718 12538 28511 15935 156767 SCHEDULE J, PART III MEMBERS OF SENIOR MANAGEMENT ARE PARTICIPANTS IN A BENEFIT PLAN REFERRED TO AS A "SERP". DURING THE YEAR ENDING DECEMBER 31, 2013 BENEFITS WERE PAID TO ONE PARTICIPANT, AND WAS INCLUDED IN THE PARTICIPANTS W-2 FOR YEAR 2013. FORM 990 - ORGANIZATION'S MISSION THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. FORM 990 NOTE REGARDING DISCOUNTED EMPLOYEE LOANS: THERE IS A PROGRAM IN PLACE THAT WAS APPROVED BY THE BOARD OF DIRECTORS FOR LOANS BEING GIVEN AT DISCOUNTED RATES TO CREDIT UNION EMPLOYEES. THESE RATES ARE DISCOUNTED AT .50% INTEREST FOR CONSUMER AND HOME EQUITY LOANS AND .125% FOR FIRST MORTGAGE LOANS. IF AN EMPLOYEE IS TERMINATED FROM EMPLOYMENT, THEN THE LOAN WILL REVERT TO THE NON DISCOUNTED RATE. FORM 990, PAGE 6, PART VI, LINE 6 MEMBERSHIP IS OPEN TO ALL THOSE PERSONS WHO MEET THE ELIGIBILITY REQUIREMENTS, PROPERLY APPLIED FOR MEMBERSHIP, AND WHO ARE ELECTED TO MEMBERSHIP IN ANY MANNER AS SPECIFIED BY THE BOARD. ONCE BECOMING A MEMBER, MEMBERSHIP REMAINS IN EFFECT UNTIL SUCH TIME AS THE MEMBER DIES, RESIGNS, OR IS EXPELLED, UPON GOOD CAUSE AND NOTIFICATION BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7A THE ANNUAL MEETING OF THE MEMBERS FOR THE ELECTIONS OF THE DIRECTORS AND THE CONSIDERATION OF REPORTS IS HELD PRIOR TO JULY 1 OF EACH YEAR. A QUORUM OF THE MEMBERS, IN PERSON OR BY MAIL BALLOT IS USED FOR VOTING PURPOSES OF THE ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE FORM AND RELATED SCHEDULES ARE REVIEWED BY THE CEO AND CFO. IT IS ALSO REVIEWED BY THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED MEETING. FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS, OFFICERS, AND EMPLOYEES ARE REQUESTED TO DISCLOSE ANY AND ALL CONFLICTS OF INTEREST AS THEY AROSE. A MORE FORMAL MONITORING AND ENFORCEMENT POLICY IS PLANNED TO BE IMPLEMENTED IN THE FUTURE. FORM 990, PAGE 6, PART VI, LINE 15A THE PROCESS USED TO SET THE CEO'S SALARY IS BASED ON A COMBINATION OF INDUSTRY DATA FROM THE "CUES" SALARY SURVEY, CUNA'S ANNUAL COMPENSATION SURVEY AND AN INDEPENDEDNT CREDIT UNION COMPENSATION CONSULTANT. THE PROCESS IS PERFORMED ANNUALLY BY THE COMPENSATION COMMITTEE (A SUBCOMMITEE OF THE BOARD OF DIRECTORS) AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THE PROCESS OF ESTABLISHING AND APPROVING THE CEO'S SALARY IS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 15B THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS BASED ON A COMBINATION OF INDUSTRY DATA AND DATA OBTAINED FROM AN INDEPENDENT COMPENSATION CONSULTANT AND IS APPROVED BY THE CEO ON AN ANNUAL BASIS. FORM 990, PAGE 6, PART VI, LINE 19 THE CREDIT UNIONS ANNUAL REPORT AND ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH POSTINGS ON THE CREDIT UNIONS WEBSITE AT WWW.SSCU.NET. QUARTERLY FINANCIAL DATA IS ALSO AVAILABLE AT WWW.NCUA.GOV. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE MAIN OFFICE OF THE CREDIT UNION. GOVERNING DOCUMENTS AND THE CONLFICT OF INTEREST POLICY MAY BE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 NET CHANGE IN UNREALIZED INVESTMENT LOSS 4,922,643 THE CHANGE IN INVESTMENT VALUATION IS A NEGATIVE NUMBER. KD PROPERTIES INC 3181 LARCHMONT AVE NE WARREN OH 44483 341521043 FINANCIAL OH N/A C CORP 1000 1.00000 false SOUND FINANCIAL SERVICES INC 3181 LARCHMONT AVE NE WARREN OH 44483 341481162 FINANCIAL OH N/A C CORP 649132 507281 1.00000 false true false false false false false false false false true false false false false false false false false false SOUND FINANCIAL SERVICES INC A 1872 KD PROPERTIES INC A