2013-11-13T10:56:49-06:00 2012-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2012-01-01 520284053 MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC MUNI 4107528313 7 E REDWOOD STREET BALTIMORE MD 21202 NATALIE J WOOMER 4107528313 2013-11-12 1 GERALD B KISSELL P00092658 6123324300 2012 2016-02-25 16:41:14Z MECU OF BALTIMORE INC BERT J HASH JR 7 E REDWOOD STREET BALTIMORE MD 21202 163960101 0 X WWW.MECU.COM X 1936 MD MECU IS A CREDIT UNION WHICH PROVIDES A FULL ARRAY OF FINANCIAL SERVICES TO ITS MEMBER OWNERS. 12 12 349 0 297294 18917 0 0 58624503 59713519 9632792 9294651 0 0 68257295 69008170 0 181214 15614879 13984081 20338571 21815965 0 0 0 30176365 28457931 66129815 64439191 2127480 4568979 1124196951 1195519510 1004763273 1068028787 119433678 127490723 X TO PROVIDE MEMBERS WITH HIGH QUALITY FINANCIAL SERVICES THROUGH SOUND MANAGEMENT AND INNOVATION. 0 0 MECU MAKES A VARIETY OF TYPES OF LOANS TO ITS MEMBERS INCLUDING MORTGAGE, HOME EQUITY, VEHICLE, CREDIT CARD AND UNSECURED LOANS AT VERY COMPETITIVE INTEREST RATES. THERE WERE 52,374 OUTSTANDING LOANS TOTALING $650 MILLION AT 12/31/12. IN 2012, MECU REFUNDED OVER $2 MILLION OF THE INTEREST THAT ITS MEMBERS PAID ON LOANS DURING THE YEAR. IT WAS THE 31ST CONSECUTIVE YEAR THAT MECU HAS RETURNED MONEY TO ITS MEMBERS IN THE FORM OF A LOAN INTEREST REBATE. MECU PROVIDES ITS 103,618 MEMBERS WITH THE MEANS TO SAVE MONEY. MECU OFFERS SHARE SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, IRA, EDUCATIONAL SAVINGS AND MONEY MARKET ACCOUNTS. IN ADDITIONAL TO PAYING VERY COMPETITIVE DIVIDEND AND INTEREST RATES ON ITS SAVINGS PRODUCTS, MECU HAS ALSO PAID AN EXTRAORDINARY DIVIDEND TO ITS MEMBERS FOR THE LAST 31 CONSECUTIVE YEARS. MECU PAID $1.97 MILLION IN EXTRAORDINARY DIVIDENDS TO ITS MEMBERS IN 2012. IN 2012, MECU WON THE LOUISE HERRING PHILOSOPHY IN ACTION AWARD. MECU STRIVES TO OFFER PRODUCTS AND SERVICES DESIGNED TO IMPROVE THE ECONOMIC AND SOCIAL WELL BEING OF ALL MEMBERS FROM ALL SOCIAL-ECONOMIC BACKGROUNDS. MECU'S FIELD OF MEMBERSHIP DRAWS FROM BALTIMORE CITY, AN AREA THAT QUALIFIES AS AN UNDERSERVED/INVESTMENT AREA AS DEFINED BY THE NCUA. MECU IS COMMITTED TO MEMBER FINANCIAL EDUCATION. SOME OF THE PROGRAMS THAT MECU PROVIDES INCLUDE: DISCOUNTED MORTGAGE RATES THROUGH FIRST TIME HOMEBUYER'S PROGRAMS AND BUY IN BALTIMORE LOANS, HOME BUYERS' WORKSHOPS, CREDIT REPAIR WORKSHOPS, BASICS OF MONEY MANAGEMENT, NEW EMPLOYEE AND PRE-RETIREMENT WORKSHOPS AND FREE CREDIT COUNSELING SERVICES THROUGH ACCEL, A GREENPATH, INC. AFFILIATE. MECU ALSO HAS TWO STUDENT-RUN BRANCHES AT HIGH SCHOOLS. MECU ACTIVELY PARTICIPATES IN COMMUNITY OUTREACH PROJECTS. SOME OF THE PROGRAMS THAT MECU PARTICIPATED IN DURING 2012 WERE HABITAT FOR HUMANITY, JUNIOR ACHIEVEMENT, MEALS ON WHEELS, PARTNERSHIPS WITH 9 ELEMENTARY SCHOOLS, ADOPTING FAMILIES FOR THE HOLIDAYS, THE SALVATION ARMY ANGEL TREE, A MARYLAND PUBLIC TELEVISION TELETHON, CREDIT UNIONS FOR KIDS, DONATED OVER 5,900 BOOKS TO BALTIMORE CITY SCHOOL CHILDREN, HELD A GOLF TOURNAMENT TO RAISE MONEY FOR THE MECU FOUNDATION, THREW A PARTY FOR THE RESIDENTS AT A NURSING HOME, HELD A BLOOD DRIVE AND FED PEOPLE IN NEED AT OUR DAILY BREAD. MECU ALSO WALKED IN THE ADA AND CYSTIC FIBROSIS WALK-A-THONS. 0 0 0 0 0 0 0 1 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 41439 0 1 349 1 1 1 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X NATALIE J WOOMER 4107528313 7 E REDWOOD STREET BALTIMORE MD 21202 HERMAN WILLIAMS JR 1.70 X X 17800 0 1000 ERNEST GLINKA 1.80 X X 18400 0 1000 GARY MCLHINNEY 1.60 X X 16400 0 1000 LORRETTA JOHNSON 0.70 X 7600 0 1000 JOHN WALKER III 1.00 X 10800 0 1000 G LOUISE GREEN 1.00 X 10200 0 1000 CHARMAINE THOMAS 1.20 X 12800 0 1000 A SOULA LAMBROPOULOS 1.20 X 12600 0 1000 BENJAMIN MELI JR 1.50 X 16000 0 1000 KALIOPE PARTHEMOS 0.30 X 2600 0 1000 PEGGY PEACOCK 1.50 X 15200 0 1000 ROMAN CLARK SR 1.40 X 14200 0 1000 BERT HASH JR 50.00 X 557507 0 232657 ADRIAN JOHNSON 45.00 X 173096 0 66360 ANDREW PATAKI 45.00 X 316936 0 77214 GARY MARTIN 45.00 X 172169 0 69716 NATALIE WOOMER 45.00 X 138619 0 65677 ALAN GRIFFITHS 45.00 X 152245 0 47401 PATRICIA ROBERTS 45.00 X 138239 0 71856 LAURIE RUSH 45.00 X 129207 0 40163 KATHY DAY SHELTON 45.00 X 122199 0 53601 2054817 0 736645 16 0 1 0 PSCU FINANCIAL SERVICES 560 CARILLON PARKWAY ST PETERSBERG FL 33716 CREDIT AND DEBIT CARD PROCESSOR 1874312 FIDELITY NATIONAL INFORMATION SERVICES PO BOX 4535 CAROL STREAM IL 60197 DATA PROCESSOR 1725513 FISERV 75 REMITTANCE DRIVE SUITE 6962 CHICAGO IL 60675 STATEMENT MAILING, OPTICAL & ACCOUNTING 968627 STAR NETWORK 401 WEST A STREET SUITE 600 SAN DIEGO CA 92101 ATM NETWORK 820235 LOANCARE 3637 SENTARA WAY VIRGINIA BEACH VA 23452 MORTGAGE SERVICER 689433 19 INTEREST ON LOANS TO MEMBERS 522100 43160790 43160790 SERVICE CHARGES AND OTHER FEES 522100 9780028 9676793 103235 OTHER NONINTEREST INCOME 522100 6772701 6578642 194059 59713519 8466420 8466420 95780162 94951931 828231 828231 828231 69008170 59416225 297294 9294651 181214 13984081 1832255 13437218 2038143 3360320 1148029 124959 44500 214590 2041538 2103117 1936679 2008054 725483 1450326 1181942 239216 PROVISION FOR LOAN LOSS 6321833 LOAN SERVICING EXPENSE 2940160 ATM/DEBIT CARD EXPENSE 2933069 OTHER OPERATING EXPENSE 2329510 1862955 64439191 17174629 13454556 12301481 18527457 637331800 649728813 15754997 12066193 3952930 3688804 398261774 447769792 55174337 62350088 1124196951 1195519510 14693921 15000979 66198 63347 990003154 1052964461 1004763273 1068028787 X 0 0 0 0 119433678 127490723 119433678 127490723 1124196951 1195519510 4568979 3488066 0 X 0 1 X 1 0 0 1 X 314800 75514 239286 5114280 3851850 1262430 10325917 8138829 2187088 3688804 AVAILABLE FOR SALE SECURITIES 386829540 F HELD-TO-MATURITY 60940252 C 447769792 ACCRUED INTEREST RECEIVABLE 6293779 NCUSIF DEPOSIT 9508340 CASH SURRENDER VALUE OF LIFE INSURANCE 32157132 OTHER ASSETS 14390837 62350088 MEMBERS' SHARES AND SAVINGS 984071604 BORROWED FUNDS 68892857 1052964461 X 69008170 0 69008170 0 69008170 64439191 0 64439191 0 64439191 PART IV, LINE 2B: IN SITUATIONS WHERE IT CANNOT BE DETERMINED WHO OWNS THE LAND OR WHO GROUND RENT SHOULD BE PAID TO AT MORTGAGE SETTLEMENT THE BUYER IS REQUIRED TO PAY 5 YEARS WORTH OF GROUND RENT AT SETTLEMENT. MECU HOLDS THESE FUNDS IN ESCROW TO PAY GROUND RENT ON BEHALF OF THE MEMBER OR IF THE SITUATION IS NOT RESOLVED AFTER 5 YEARS, THE MONEY GOES BACK TO THE MEMBER. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. 1 BALTIMORE OFFICE OF PROMOTIONS AND ARTS 10 E BALTIMORE ST 10TH FLOOR BALTIMORE MD 21202 900091850 501(C)3 50000 PROVIDE GRANTS FOR BALTIMORE NEIGHBORHOOD EVENTS. THE MAXIMUM GRANTED PER EVENT WAS $1,000. AFRICAN AMERICAN CREDIT UNION COALITION PO BOX 1612 SHREVEPORT LA 71165 571091138 501(C)3 30000 TO INCREASE THE STRENGTH OF THE CREDIT UNION MOVEMENT. IT'S AN ORGANIZATION OF CREDIT UNION PROFESSIONALS AND VOLUNTEERS OF AFRICAN DESCENT. THE CREDIT UNION FOUNDATION OF MD & DC PO BOX 190 GLENELG MD 21737 521749045 501(C)3 30000 TO SUPPORT CREDIT UNIONS AND THE COMMUNITIES THAT THEY SERVE WITH AN EMPHASIS ON FINANCIAL LITERACY,SMALL CREDIT UNION SUPPORT, LEADERSHIP DEVELOPMENT AND PROFESSIONAL DEVELOPMENT. X X X X 0 1 0 BERT HASH JR 488029 0 50000 0 19478 0 222815 0 9842 0 790164 0 0 0 ADRIAN JOHNSON 165406 0 7000 0 690 0 58552 0 7808 0 239456 0 0 0 ANDREW PATAKI 276901 0 20000 0 20035 0 59992 0 17222 0 394150 0 0 0 GARY MARTIN 163189 0 7000 0 1980 0 65622 0 4094 0 241885 0 0 0 NATALIE WOOMER 131036 0 7000 0 583 0 58836 0 6841 0 204296 0 0 0 ALAN GRIFFITHS 141698 0 7000 0 3547 0 33009 0 14392 0 199646 0 0 0 PATRICIA ROBERTS 130141 0 7000 0 1098 0 58288 0 13568 0 210095 0 0 0 LAURIE RUSH 121651 0 7000 0 556 0 32211 0 7952 0 169370 0 0 0 KATHY DAY SHELTON 114679 0 7000 0 520 0 33081 0 20520 0 175800 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN AND ALL COMPENSATION HAS BEEN PROPERLY REPORTED IN PART VII AND SCHEDULE J. THERE WERE NO DISBURSEMENTS DURING 2012. BERT HASH, JR. NATALIE WOOMER GARY MARTIN ANDREW PATAKI ADRIAN JOHNSON PATRICIA ROBERTS ALAN GRIFFITHS 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 NATALIE WOOMER, VP OF ACCOUNTING AND CONTROLLER, REVIEWS THE COMPLETED FORM 990 IN DETAIL BEFORE IT IS SENT TO THE IRS. THE TAX RETURN IS ALSO GIVEN TO ALL BOARD MEMBERS AND THE CEO FOR THEIR REVIEW BEFORE THE FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH YEAR, EACH BOARD DIRECTOR, MECU EMPLOYEE AND SUPERVISORY AND CREDIT COMMITTEE MEMBER IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THE RESPONSES ARE REVIEWED BY MECU'S HUMAN RESOURCE DEPARTMENT TO VERIFY THAT EVERYONE IS IN COMPLIANCE WITH MECU'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO AND OTHER TOP MANAGEMENT OFFICIALS RECEIVE AN ANNUAL PERFORMANCE REVIEW. BASED ON PERFORMANCE, THE EMPLOYEE MAY RECEIVE A MERIT INCREASE. COMPENSATION DATA FROM A COUPLE OF SOURCES IS REVIEWED TO DETERMINE THE EMPLOYEE'S SALARY. THESE SOURCES INCLUDE CREDIT UNION SALARY SURVEYS FROM CUES AND CUNA. FOR KEY EMPLOYEES OTHER THAN THE CEO, THE PERFORMANCE REVIEW DOCUMENT IS SIGNED BY THE CORRESPONDING DEPARTMENT HEAD/CEO AND THE VICE-PRESIDENT OF HUMAN RESOURCES. THE CEO'S EVALUATION IS CONDUCTED BY THE BOARD OF DIRECTORS EACH YEAR IN JANUARY AND IS BASED ON THE FOUR (4) FOLLOWING CRITERIA: FINANCIAL PERFORMANCE, STRATEGIC GOALS AND OBJECTIVES, EVALUATIONS COMPLETED BY THE BOARD MEMBERS AND COMMUNITY, INDUSTRY AND CIVIC INVOLVEMENT. THE CEO MEETS WITH THE BOARD TO DISCUSS HIS PERFORMANCE. THE BOARD VOTES ON ANY MERIT INCREASE AND/OR BONUS. A NEW CONTRACT IS SIGNED EACH YEAR REFLECTING HIS SALARY AND THE EXPECTATIONS OF THE POSITION. THE CONTRACT IS SIGNED BY THE CHAIRMAN, BOARD SECRETARY AND THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS, CONFLICT OF INTERESTS POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS ARE POSTED ON MECU'S WEBSITE. MECU FOUNDATION 7 EAST REDWOOD STREET BALTIMORE MD 21202 261113703 CHARITABLE FOUNDATION MD 501(C)3 PUBLIC MECU OF BALTIMORE 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0