2014-11-20T07:51:36-06:00 2013-12-31 383635706 REHMANN ROBSON LLC 5800 GRATIOT PO BOX 2025 SAGINAW MI 486052025 990 2013-01-01 381514946 SECURITY CREDIT UNION SECU 8102352322 3801 WEST BOULEVARD DRIVE FLINT MI 48505 CHRIS BOWMAN VICE PRESIDENT OF ACCOUNTING 8102352322 2014-11-20 1 JEFFREY E HERT CPA P00066715 9897999580 2014-11-14 2013 2015-11-30 17:44:51Z CHRISTOPHER ESTES 3801 WEST BOULEVARD DRIVE FLINT MI 48505 19266730 0 X WWW.SECURITYCU.ORG X 1954 MI WE ARE OUR MEMBERS' TRUSTED, SECURE FINANCIAL COOPERATIVE. 14 14 176 14 340914 -293924 0 0 14447787 13723094 1835468 2093981 2375195 3103195 18658450 18920270 0 0 0 0 7056399 6995273 0 0 0 10701545 10184922 17757944 17180195 900506 1740075 357433050 380950718 328500108 350275460 28932942 30675258 WE ARE OUR MEMBERS' TRUSTED, SECURE FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE. 0 0 N/A 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6669 0 1 176 1 1 1 0 0 0 0 0 0 0 X 14 14 0 0 1 0 1 1 1 1 0 0 0 0 1 1 1 0 1 1 1 0 X BRENT ESTEP 8102352322 3801 W BOULEVARD DR FLINT MI 48505 X KENNITH SCOTT CHAIRMAN 2.00 X 0 0 0 JOHN TRUCHAN 1ST VICE CHAIRMAN 2.00 X 0 0 0 DONALD SORENSEN DIRECTOR 2.00 X 0 0 0 JOE NIEDZWEICKI 2ND VICE CHAIRMAN 2.00 X 0 0 0 RICHARD HAZEL SECRETARY 2.00 X 0 0 0 GERALD DEMARIA TREASURER 2.00 X 0 0 0 RONALD DODGE DIRECTOR 2.00 X 0 0 0 VIC CARPENTER DIRECTOR 2.00 X 0 0 0 LAUREN EMMONS DIRECTOR 2.00 X 0 0 0 PHIL THICK DIRECTOR 2.00 X 0 0 0 TOM CROOKS DIRECTOR 2.00 X 0 0 0 WILDA FOY DIRECTOR 2.00 X 0 0 0 DONALD HENRY DIRECTOR 2.00 X 0 0 0 JESSIE COLLINS DIRECTOR 2.00 X 0 0 0 CHRISTOPHER ESTES PRESIDENT & CEO 40.00 X 283118 0 171021 JOHN SAYER EVP & COO 40.00 X 151413 0 31401 434531 0 202422 2 0 1 0 FISERV 75 REMITTANCE DR SUITE 6956 CHICAGO IL 60675 COMPUTER SOFTWARE/CARD PROCESSING 1158740 DIEBOLD PO BOX 644399 PITTSBURGH PA 15264 BANKING EQUIP. SERVICE/REPAIR 376783 GILA GROUP 8325 TUSCANY WAY BLD 4 AUSTIN TX 78754 COLLECTION SERVICES 298738 DATA MAIL SERVICES 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 STATEMENT PROCESSING 257496 SIMON PLC 37000 WOODWARD AVE STE 250 BLOOMFIELD HILLS MI 48304 LEGAL SERVICES 131547 5 INCOME ON MEMBER LOANS 522100 9333970 9333970 FEES AND CHARGES 522100 4303852 4303852 SALE OF MORTGAGES 522100 85272 85272 13723094 2060094 2060094 380347 346460 33887 33887 33887 INTERCHANGE INCOME 522100 2129940 2129940 GAIN ON NCUA ASSISTED ACQUISITION 525990 632341 632341 INSURANCE PRODUCTS 524298 206697 206697 134217 134217 3103195 18920270 16485375 340914 2093981 556167 4647206 158617 1157043 476240 17128 51163 1500 416684 1629781 788881 1200783 107971 1003 571632 283978 PROVISION FOR LOAN LOSS 1467800 LOAN SERVICING 1229168 ATM EXPENSE 946954 CREDIT CARD EXPENSE 693555 776941 17180195 47518818 25140370 16040035 12653703 55881 66817 156468433 164721000 792998 863128 28822607 13838558 12747554 14984049 116544123 150044547 600000 600000 6665208 11877104 357433050 380950718 3894271 4420729 324605837 345854731 328500108 350275460 X 0 0 0 0 28932942 30675258 28932942 30675258 357433050 380950718 1740075 2241 0 X 0 0 0 4126435 4126435 13046971 3422887 9624084 1022992 820195 202797 10494678 9595476 899202 131531 131531 14984049 MEMBERS' SHARES AND SAVINGS ACCOUNTS 344696529 ACCRUED DIVIDENDS PAYABLE 59270 ACCRUED PENSION LIABILITIES 1098932 345854731 X 1 1 X X X 0 1 0 CHRISTOPHER ESTES PRESIDENT & CEO 237758 0 45360 0 0 0 153908 0 17113 0 454139 0 0 0 JOHN SAYER EVP & COO 115986 0 35427 0 0 0 18170 0 13231 0 182814 0 0 0 PART I, LINE 1B EACH BOARD AND COMMITTEE MEMBER IS ENTITLED TO HAVE THEIR SPOUSE ACCOMPANY THEM TO THE CONFERENCE. FORM 990, PART VI, SECTION A, LINE 4 FIELD OF MEMBERSHIP EXPANSION AS A RESULT OF THE PURCHASE OF CRAFTSMAN CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 6 EVERY CLIENT THAT HAS AN ACCOUNT WITH OUR CREDIT UNION IS ALSO A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT MEMBERS OF THE GOVERNING BODY EACH YEAR AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B YES, SOME OF THE DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO THE APPROVAL OF REGULATORY AGENCIES. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11 A REVIEW IS COMPLETED BY THE VP OF FINANCE BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C UPON ELECTION OR APPOINTMENT, THE BOARD OF DIRECTORS SIGN AN OATH OF OFFICE THAT INCLUDES A CONFLICT OF INTEREST STATEMENT. MANAGEMENT SIGNS A CONFLICT OF INTEREST POLICY ANNUALLY THAT IS REVIEWED BY THE CEO. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS CEO PERFORMANCE AND APPROVES CEO COMPENSATION, DOCUMENTED IN MINUTES AND CREDIT UNION EXECUTIVES SOCIETY ("CUES") AS WELL AS THE NATIONAL ASSOCIATION OF CREDIT UNION CHAIRMEN CEO SALARY SURVEY. THE CEO REVIEWS ALL EXECUTIVE COMPENSATION USING THE CREDIT UNION EXECUTIVES SOCIETY CUES GUIDE AND DOCUMENTATION IS RETAINED IN THEIR PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH OFFICE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VIII, LINE 11B DURING THE TAX YEAR, CRAFTSMAN CREDIT UNION WAS ACQUIRED BY SECURITY CREDIT UNION. NCUA CASH ASSISTANCE PROVIDED: 2,772,045 ASSETS PURCHASED: NET LOANS: 3,921,407 TOTAL INVESTMENTS: 9,690,071 BUILDING AND PROPERTY: 445,000 OTHER ASSETS: 79,679 TOTAL ASSETS: 20,914,607 LIABILITIES PURCHASED: NON MATURITY DEPOSITS: 20,685,522 TIME DEPOSITS: 2,368,789 TOTAL LIABILITIES: 23,054,311 VALUE: 2,139,704 NCUA CASH ASSISTANCE PROVIDED: 2,722,045 GAIN ON PURCHASE: 632,341