2013-08-13T11:10:25-00:00 2012-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2012-01-01 880062898 SILVER STATE SCHOOLS CREDIT UNION SILV 7027338820 4221 MCLEOD DRIVE LAS VEGAS NV 891215215 DAVID FISCHER 2013-08-13 true DOUGLAS ORTH 3052328272 2013-08-13 2012 2016-02-24 21:20:13Z ANDREW HUNTER 4221 MCLEOD DRIVE LAS VEGAS NV 89121 96895965 false X www.silverstatecu.com X CREDIT UNION 1951 NV FINANCIAL SERVICES FOR MEMBERS. 7 7 234 10 0 0 36006135 32963161 -498612 2105158 10694500 6398879 46202023 41467198 0 0 10390992 8772599 0 0 44196626 33364824 54587618 42137423 -8385595 -670225 653525575 622371826 627736400 599137178 25789175 23234648 FINANCIAL SERVICES FOR MEMBERS. false false FINANCIAL INSTITUTIONS PROGRAMS FINANCIAL SERVICES FOR MEMBERS. false false false false false false false false true false false false true true false true false false false false false false false false false false false true false true false false false false false false false false true false true false false true 11754 0 true 234 true false false false false false false X 7 7 false false false false true true true true true false false false true true false true true true false false X SILVER STATE SCHOOLS CREDIT UNION 7027338820 4221 MCLEOD DRIVE LAS VEGAS NV 891215215 MITCH FOX 001.00 001.00 X 0 0 0 LEONARD PETOSKI 001.00 001.00 X 0 0 0 GEORGE ANN RICE 001.00 001.00 X 0 0 0 TERRY MANNION 001.00 001.00 X 0 0 0 JOYCE WOODHOUSE 001.00 001.00 X 0 0 0 TERESA YEOMAN 001.00 001.00 X 0 0 0 NICOLE ROURKE 001.00 001.00 X 0 0 0 ANDREW HUNTER 040.00 040.00 X 267238 0 0 MICHAEL RANDALL 040.00 040.00 X 144394 0 4354 DAVID FISCHER 040.00 040.00 X 134238 0 0 STEVE VANSICKLER 040.00 040.00 X 179532 0 5306 AUDRA RAEL 040.00 040.00 X 98175 0 4873 ANN JOHNSON 040.00 040.00 X 96100 0 9258 VINCENT BUCCA 040.00 040.00 X 120860 0 3912 1040537 27703 5 false true false COX COMMUNICATIONS INC PO BOX 53262 PHOENIX AZ 85072 COMMUNICATION INFRASTRUCTURE 416166 FIRST AMERICAN TITLE INSURANCE COMPANY 2490 PASEO VERDE PKWY HENDERSON NV 89074 COLLECTIONS FORECLOSURE 262045 COOPER CASTLE LAW FIRM LLP 999 18TH STREET 2201 DENVER CO 80202 COLLECTIONS LEGAL 389668 CDW DIRECT PO BOX 75723 CHICAGO IL 60675 CUMPUTER EQUIPMENT 212809 STYSKAL WIESE & MECHIONE LLP 550 N BRAND BLVD GLENDALE CA 91203 LEGAL 207388 20 INTEREST ON LOANS 522100 25657540 25657540 FEES AND CHARGES 522100 7305621 7305621 32963161 408028 408028 10525 10525 10525 10525 57125897 55428767 1697130 1697130 1697130 OTHER INCOME 522100 6388354 6388354 6388354 41467198 41467198 0 0 0 0 735062 735062 0 6646153 6646153 15364 15364 727616 727616 648404 648404 0 766145 766145 114665 114665 0 0 837370 837370 471663 471663 2020190 2020190 0 0 1067949 1067949 31647 31647 0 11167 11167 3590215 3590215 0 1463920 1463920 302050 302050 SEE ATTACHED SCHEDULE 22687843 22687843 0 42137423 42137423 87618098 162612525 21175396 3066393 5098315 2244711 2370278 508105601 425431994 2732022 803613 34331027 27206759 8476779 7124268 5068795 4833251 15037780 14097582 653525575 622371826 4950828 4006895 622785572 595130283 627736400 599137178 X 25789175 23234648 25789175 23234648 653525575 622371826 X -670225 -70725 -1813577 X false true X true false false 451140 451140 12126990 6626054 5500936 3702151 3614800 87351 18050746 16965905 1084841 7124268 Financial derivatives and other financial products Closely-held equity interests Federal income taxes REGULAR SHARES 171465930 MONEY MARKET 126547307 DRAFT ACCOUNT 113060073 IRA SHARES 9216675 IRA CDS 40869851 CERTIFICATE OF DEPOSIT 133970447 NON MEMBER SHARES 595130283 X X 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX 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 INTERNAL REVENUE CODE IRC SECTION 501C14. 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 THE UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNICAL 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 RECOGNITION 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 2009 THROUGH 2012 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 false false false ANDREW HUNTER 267238 267238 STEVE VANSICKLER 179512 5306 184818 TERRY MANNION DIRECTOR 1ST MORTGAGE X 149000 148755 false true true JOYCE WOODHOUSE DIRECTOR UNSECURED X 15000 14105 false true true CHARLOTTE CONGER SUPERVISORY COMMITTEE UNSECURED X 2250 2212 false true true BILL GEORGE SUPERVISORY COMMITTEE AUTO X 13852 7573 false true true MALINDA WATSON SUPERVISORY COMMITTEE 2ND MORTGAGE X 34302 18878 false true true MALINDA WATSON SUPERVISORY COMMITTEE 1ST MORTGAGE X 220000 180270 false true true MIKE RANDALL OFFICER 2ND MORTGAGE X 89793 89793 false true true MIKE RANDALL OFFICER 1ST MORTGAGE X 359650 319422 false true true MIKE RANDALL OFFICER 1ST MORTGAGE X 392000 366229 false true true STEVE VANSICKLER OFFICER 1ST MORTGAGE X 395000 390564 false true true ANN JOHNSON OFFICER 1ST MORTGAGE X 80000 48502 false true true AUDRA REAL OFFICER 1ST MORTGAGE X 121200 99689 false true true AUDRA REAL OFFICER 2ND MORTGAGE X 76300 68564 false true true AUDRA REAL OFFICER UNSECURED X 2500 2500 false true true AUDRA REAL OFFICER SHARE SECURED X 15000 7818 false true true CAROL GIBSON FORMER OFFICER 1ST MORTGAGE X 204200 195522 false true true CAROL GIBSON FORMER OFFICER 1ST MORTGAGE X 130000 124489 false true true GARY HAILS FORMER OFFICER 1ST MORTGAGE X 316000 285393 false true true 2370278 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 B Line 11 FORM 990 IS COMPLETED BY SENIOR MANAGEMENT OF THE CREDIT UNION AND REVIEWED WITH THE BOARD OF DIRECTORS BEFORE FILING. SUBSEQUENT REVIEW IS PERFORMED BY CPA FIRM, STATE EXAMINERS, AND FEDERAL AUTHORITIES. Form 990 Part VI Section B Line 15A EACH YEAR THE BOARD OF DIRECTORS COMPLETES AND DELIVERS A PERFORMANCE EVALUATION AND COMPENSATION REVIEW OF THE PRESIDENT/CEO. COMPENSATION SURVEYS ARE OBTAINED AND REVIEWED BY THE BOARD FOR THIS PROCESS. DECISIONS ARE DOCUMENTED IN EXECUTIVE SESSION MINUTES. Form 990 Part VI Section C Line 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE AMERICAN SHARE INSURANCE ASI WEBSITE VIA THE CALL REPORT FILED QUARTERLY. Form 990 Part VI Section A Line 7B THE PRIVATE SHARE INSURER FOR SILVER STATE SCHOOLS CREDIT UNION SSSCU, AMERICAN SHARE INSURANCE, REQUIRES APPROVAL RIGHTS ON CERTAIN DECISIONS IN RETURN FOR CAPITAL INJECTIONS MADE TO SSSCU. Form 990 Part XI Line 9 SPECIAL RESERVE IN THE AMOUNT OF 101,386 LESS PENSION PLAN LOSSES IN THE AMOUNT OF 1,914,963. SILVER STATE SCHOOLS SERVICES COMPANY LLC 4221 MCLEOD DRIVE LAS VEGAS NV 89121 742952579 MORTGAGE SERVICES NV 1295235 9427130 SILVER STATE SCHOOLS CU