2013-05-01T17:00:30-07:00 2012-12-31 990 2012-01-01 741196893 PUBLIC EMPLOYEES CREDIT UNION PUBL 5124741955 306 E Tenth Street Austin TX 78701 Marc Broddrick 5124741955 2013-05-01 2012 2016-03-07 17:11:31Z Gary Whitcomb 306 E 10th St Austin TX 78701 10735935 0 2742 X www.pecutx.org X 1952 TX Public Employees Credit Union is a cooperative financial institution that is owned and controlled by its members and is operated for the purpose of promoting thrift and providing credit and other financial services to its members. 7 7 112 7 13447 -41208 0 0 9286463 7754624 0 1450502 0 0 9286463 9205126 0 0 0 0 3518404 3651626 0 0 0 4859915 4729643 8378319 8381269 908144 823857 268015108 281151141 744249 259303482 267270859 21847659 Public Employees Credit Union is a copperative financial institution that is owned and controlled by its members and is operated for the purpose of promoting thrift and providing credit and other financial services to its members. 0 0 Public Employees Credit Union provides a wide range of secured and unsecured loans to its members for consumable items, such as autos, motorcycles, RVs, home equity loans, mortgages, credit cards, signature loans and line-of-credits and share or certificate secured loans. Additionally, credit insurance is available on all these loans. GAP (Guaranteed Asset Protection) insurance is a product that is likewise offered on some of our secured loans. Public Employees Credit Union offers money market accounts to its members. These accounts pay a higher dividend than a typical savings or checking account as long as the monthly balance minimum requirement is maintained. Interest is paid and compounded monthly. Public Employees Credit Union offers certificates of deposit to its members with varying terms and rates. These instruments allow our members a savings alternative that pays higher dividends than a typical savings or checking account, but with no market risk or exposure. Interest is paid and compounded monthly. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 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 5267 0 1 112 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 0 0 0 1 1 1 0 X Marc Broddrick 5124741955 306 E Tenth Street Austin TX 78701 Hal tenBrink 1 X X 0 0 0 David Burrell 1 X X 0 0 0 Lanny Wadle 1 X X 0 0 0 Diana Isabel 1 X X 0 0 0 Tommy Gregg 1 X 0 0 0 Jennifer Soldano 1 X 0 0 0 Claire McGuinnes 1 X 0 0 0 Gary Whitcomb 40 X 175019 0 23885 Marc Broddrick 40 X 27654 0 0 202673 0 23885 1 0 1 0 0 0 Loan interest 522100 5909020 5909020 0 0 Fee income 522100 1664504 1651946 12558 0 Other operating income 522100 181100 180211 889 0 0 0 0 0 7754624 1443138 1443138 0 0 0 0 1538080 93 1530648 161 7432 -68 7364 7364 0 9205126 7741177 13447 1450502 226558 2583466 212343 412107 217152 78265 59696 269352 1015282 272021 551070 11319 12735 865646 375161 127318 Loan servicing expense 515724 Corporate Stabilization Assessment 229895 Allowance for loan losses 164894 Association dues 44436 136829 8381269 0 0 0 2980817 1653275 35805944 715615 1456245 45137 113541209 130736525 298326 320730 6489235 3963553 2632465 2525682 142267120 111995595 600000 1591564 268015108 281151141 744249 718953 258584529 744249 259303482 X 245972062 0 0 0 21298797 21847659 267270859 21847659 268015108 281151141 X 823857 -274995 -245972062 X 0 0 0 0 1004781 1004781 0 2281044 1469468 811576 0 0 0 0 0 3203410 2494085 709325 0 0 0 0 2525682 Available for Sale Securities 113638334 F Hold to Maturity Securities 62517 C Deposits in Corporate Credit Unions 23892836 C Deposits in Other Financial Institutions 4673433 C 142267120 Member deposits 258584529 258584529 X X 0 0 0 Gary Whitcomb 175019 0 0 0 0 0 17502 0 6383 0 198904 0 F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 Public Employees Credit Union has membership eligibility requirements through numerous select employee groups (SEG). Additionally, eligibility requirements include anyone who lives, works, worships or attends school within a 10 mile radius of any branch office. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a Members vote for Board members to represent them. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b The elected Board has some decision making authority. However, some decisions, by regulation, require member consent. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Each member of the Board of Directors was given a copy of Form 990 for their review before the April 2013 regularly scheduled Board meeting. Questions and/or comments were submitted to the CFO for discussion and/or review. Form 990 will be submitted to the I.R.S. by the CFO. Accuracy is assumed upon submission of said form. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The Board of Directors reviews the CEO's salary on an annual basis through the use of compensation surveys. Salary changes are approved by the Board of Directors at its regularly scheduled meeting. The President/CEO reviews the salaries of other employees of the organization on an annual basis through the use of compensation surveys. Salary changes are at the sole discretion of the President/CEO. This process was last completed in 2012 for all eligible employees. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Public Employees Credit Union posts its financial statements in the lobby of each retail location. Additional information is available upon written request. F990_P11_S00_L09 Form 990, Part XI, Line 9 The change in fund balance was due to member deposits being classified and reported as other liabilities in 2012, as opposed to being classified as current funds in 2011.