2013-06-07T11:59:47-00:00 2012-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2012-01-01 590564247 PEOPLES CREDIT UNION PEOP 9547044100 9560 PINES BOULEVARD PEMBROKE PINES FL 33024 JEFFREY MILLER 2013-06-07 true DOUGLAS ORTH 3052328272 2013-06-07 2012 2016-02-24 21:20:13Z JEFFREY T MILLER 9560 PINES BOULEVARD PEMBROKE PINES FL 33024 19353137 false 2106 X www.pcufla.org X CREDIT UNION 1991 FL COMMUNITY CREDIT UNION 5 5 46 7 263789 -16382 0 3666172 3810417 1061658 1141329 0 4727830 4951746 0 0 2165740 2124982 0 0 3123723 2724078 5289463 4849060 -561633 102686 74477877 78305736 67349176 71156382 7128701 7149354 COMMUNITY CREDIT UNION false false INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. false false false false false false false false true true false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false true 1444 0 true 46 true true true false false false false false X 5 5 false false false false true true false true true false false true true false false false true true true false X WILLIAM WASSERSTROM 9545151517 9560 PINES BOULEVARD PEMBROKE PINES FL 33024 J ROSS 001.00 001.00 X 0 0 0 T RIBEL 001.00 001.00 X 0 0 0 SBARR 001.00 001.00 X 0 0 0 DBERGER 001.00 001.00 X 0 0 0 DHESLER 001.00 001.00 X 0 0 0 BSAMUELS 001.00 001.00 X 0 0 0 W SERDA 001.00 001.00 X 0 0 0 JT MILLER 040.00 040.00 X 153500 0 14172 W WASSERSTROM 040.00 040.00 X 72774 0 9475 226274 23647 1 false true false FISERV-AFTECH 455 S GULPH ROAD SUITE 201 KING OF PRUSSIA PA 19406 DATA PROCESSING 167885 JOKEN ASSOCIATES PO BOX 552170 DAVIE FL 33355 RENT-11645 BISCAYNE 124528 FISERV-EFT 4550 SW MACADAM AVENUE PORTLAND OR 97239 DATA PROCESSING 176973 3 INTEREST ON LOANS 522100 927209 927209 FEES/CHARGES 522100 2619419 2619419 UNRELATED BUSINESS INCOME 900099 263789 263789 3810417 951844 951844 14590876 14401391 189485 189485 189485 4951746 4687957 263789 0 0 0 0 249921 249921 0 1382177 1382177 157315 157315 192743 192743 142826 142826 0 22735 22735 32067 32067 0 0 106431 106431 15065 15065 245811 245811 159285 159285 0 466993 466993 0 0 6867 6867 167563 167563 0 219868 219868 108680 108680 SEE ATTACHED SCHEDULE 1172713 1172713 0 4849060 4849060 2532914 10232658 16654144 22275538 2770 24563 12759791 13335664 128395 153436 8304249 2362696 5896420 5941553 19262499 14200350 14811463 9683463 1435671 1393499 993810 1065012 74477877 78305736 884805 1284968 66464371 69871414 67349176 71156382 X 7128701 7149354 7128701 7149354 74477877 78305736 102686 -82033 X false true X true false false 2043970 2043970 4047472 862302 3185170 293456 85418 208038 1919351 1414976 504375 5941553 Financial derivatives and other financial products Closely-held equity interests CERTIFICATES OF DEPOSIT 9219000 F RESTRICTED MEMBERSHIP CAPITAL SHARES 464463 F 9683463 Federal income taxes MEMBER DEPOSITS - SHARE ACCOUNTS-SAVINGS AND CLUB 32588125 MEMBER DEPOSITS - SHARE DRAFT ACCOUNTS 13586908 MEMBER DEPOSITS - CERTIFICATES 13951255 MEMBER DEPOSITS - IRAs 1139559 MEMBER DEPOSITS - MONEY MARKET ACCOUNTS 8605567 69871414 4951746 4951746 4951746 4849060 4849060 4849060 X 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE MORE LIKELY THAN NOT STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN THE INTERNAL REVENUE CODE IRC SECTION 50414. AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNNICAL ADVICE MEMORANDUMS TAMs TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX UBIT. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNIONS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITON OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2011, 2010, AND 2009 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X X X false false false JT MILLER 130000 17500 6000 7375 6797 167672 Form 990 Part VI Section A Line 6 THE ORGANIZATION HAS MEMBERS. Form 990 Part VI Section A Line 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. Form 990 Part VI Section A Line 11B FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS AND CEO AS PART OF THE BOARD PACKET AT A FUTURE MEETING AND WILL BE RECORDED IN THE MINUTES OF THAT MEETING. Form 990 Part VI Section B Line 15A,B THE REVIEW OF THE CEOS COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES COMPEASE FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEOS COMPENSATION. THE CEO USES COMPEASE TO REVIEW SALARIES AND PAY RANGES ON AN ANNUAL BASIS FOR ALL OTHER EMPLOYEES. Form 990 Part VI Section C Line 19 THE CREDIT UNIONS GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING.