2012-11-13T10:31:41-06:00 2011-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2011-01-01 060701899 MUTUAL SECURITY CREDIT UNION MUTU 2034027400 12 PROGRESS DRIVE SHELTON CT 06484 KAREN LEVASSEUR 2034027400 2012-11-12 1 GERALD B KISSELL P00092658 6123324300 2011 2016-02-24 21:20:13Z LARRY F HOLDERMAN 12 PROGRESS DRIVE SHELTON CT 06484 12983003 0 X N/A X 2001 CT THE MISSION OF MSCU IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS. 6 6 73 13 204297 -54372 0 0 13293528 12523658 492260 173533 117641 197049 13903429 12894240 7000 6000 2939424 1978473 4535118 4521095 0 0 0 6288502 5742984 13770044 12248552 133385 645688 238775951 234687836 221453641 216719838 17322310 17967998 X THE MISSION OF MSCU IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS. 0 0 MUTUAL SECURITY CREDIT UNION IS A COMMUNITY CREDIT UNION WITH A MEMBERSHIP BASE OF THOSE LIVING, WORKING, WORSHIPPING OR ATTENDING SCHOOL IN FAIRFIELD, LITCHFIELD OR NEW HAVEN COUNTIES. MEMBERSHIP ELIGIBILITY ALSO INCLUDES THOSE EMPLOYED OR THE RETIRED PENSIONERS/ANNUITANTS OF OUR 77 SELECT EMPLOYEE GROUPS. FAMILY MEMBERS OF OUR CURRENT CU MEMBERS ARE ALSO ELIGIBLE FOR MEMBERSHIP. AS OF 12/31/11 WE ARE SERVING 34,405 MEMBERS. MSCU OFFERS MEMBERS VARIOUS CONSUMER LOAN PRODUCTS - PERSONAL LOANS, AUTO LOANS, MORTGAGES (1ST, 2ND AND HOME EQUITY LOC) AS WELL AS VISA CREDIT CARD. MSCU OFFERS MEMBERS OUR VISA CHECK CARD OR OUR ATM CARD. MSCU OFFERS MEMBERS A FREE ONLINE BANKING SERVICE INCLUDING FREE ONLINE BILL PAYMENT PROCESSING. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 10000 0 73 1 1 1 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X KAREN LEVASSEUR 2034027400 12 PROGRESS DRIVE SHELTON CT 06484 BRUCE M LIKELY 5.00 X X 0 0 0 ROBERT MARAGES 5.00 X X 0 0 0 LINDA SMITAS 5.00 X X 0 0 0 BRIGITTA P SMITH 5.00 X X 0 0 0 ROBERT J BASTA 5.00 X 0 0 0 ARNOLD HAYDU 5.00 X 0 0 0 LARRY F HOLDERMAN 50.00 X 173124 0 44792 KAREN LEVASSEUR 50.00 X 102266 0 27329 275390 0 72121 2 0 1 0 ANTHEM BLUE CROSS BLUE SHIELD PO BOX 778 NORTH HAVEN CT 06473 MEDICAL INSURANCE FOR STAFF 618453 AAA 110 ROYAL LITTLE DRIVE PROVIDENCE RI 02902 LENDING COMMISSION & GAP INSURANCE 196384 FISERV 75 REMITTANCE DR CHICAGO IL 60675 COMPUTER SOFTWARE/HARDWARE MAINTENANCE 178540 ADP 1 ADP PLAZA MILFORD CT 06461 PAYROLL SERVICES & HR 129534 4 INTEREST INCOME 522100 9772524 9772524 FEES AND CHARGES 522100 1666434 1462137 204297 VISA FEE INCOME 522100 923484 923484 MORTGAGE FEE INCOME 522100 161216 161216 12523658 262296 262296 88763 -88763 -88763 -88763 MISC. OPERATING INCOME 522100 197049 197049 197049 12894240 12516410 204297 173533 6000 1978473 347511 3197344 159714 519969 296557 139347 258048 437451 647705 682713 75213 385 178323 126341 LOAN PROCESSING 914155 PROVISION FOR LOAN LOSS 855000 ATM/ACH/SHARE DRAFT/IRA 669775 MEMBER INSURANCE 533528 225000 12248552 12102057 13582761 19279025 16356779 196911822 197624820 238233 268935 2993615 211146 2981839 2782469 3898446 777420 3364529 3294652 238775951 234687836 1640827 809251 763315 810269 219049499 215100318 221453641 216719838 X 0 0 0 0 17322310 17967998 17322310 17967998 238775951 234687836 645688 0 X X 0 1 1 X 0 0 1 1035139 1035139 1156103 86335 1069768 266328 4339 261989 536045 120472 415573 2782469 SHARES ON DEPOSIT 213987325 OTHER LIABILITIES AND LOANS 1112993 215100318 PART IV, LINE 2B: MUTUAL SECURITY CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. 1 COLLEGE SCHOLARSHIPS 6 6000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: EACH SCHOLARSHIP PAYMENT IS PAID BY CHECK PAYABLE TO THE RECIPIENT'S COLLEGE FOR THEIR TUITION. X X X 0 0 0 LARRY F HOLDERMAN 173124 0 0 0 0 0 26121 0 18671 0 217916 0 0 0 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, 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 THE CHAIRMAN, AND VICE-CHAIRMAN OR TREASURER OF THE BOARD OF DIRECTORS WILL REVIEW FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C EXTENSIONS OF CREDIT REQUIRES THE APPROVAL OF THE EXECUTIVE COMMITTEE, LOANS OVER $25,000 ARE REPORTED IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 SALARY AND JOB DESCRIPTION DATA IS OBTAINED FROM A CONSULTANT, HR VALUE GROUP, WHOSE DATA INCLUDES SALARY RANGES FROM THE CUNA SALARY SURVEY, CUES SURVEY, AND THE ECONOMIC RESEARCH INSTITUTE. CEO SALARY IS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC. GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICIES ARE NOT. FORM 990 PART XI, LINE 2C THE PROCESS USED TO OVERSEE THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE THE PREVIOUS YEAR. GODFREY TERRACE CONDO ASSOCIATION C/O MSCU PO BOX 2489 SHELTON CT 064841489 061269292 CONDO ASSOCIATION CT MUTUAL SECURITY CREDIT UNION C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0