2012-11-15T21:53:00-06:00 2011-12-31 SCHWARTZ COLE AND ASSOCIATES LLC 11776 W SAMPLE RD STE 106 CORAL SPRINGS FL 330653180 990 2011-01-01 340825325 SEVEN SEVENTEEN CREDIT UNION INC SEVE 3303728100 3181 LARCHMONT AVE NE WARREN OH 44483 JEROME MCGEE 3303728100 2012-11-15 true DANIEL J COLE 9547551760 2012-11-15 2011 2016-02-24 21:20:13Z JEROME MCGEE 3181 LARCHMONT AVE NE WARREN OH 44483 46562423 false X WWW.SSCU.NET X 1957 OH THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. 6 6 275 4 160628 69767 0 47575690 43673851 2751160 2888572 0 50326850 46562423 0 0 21190271 17773898 0 0 26549440 22038455 47739711 39812353 2587139 6750070 759130371 775720799 684830645 694404206 74299726 81316593 X THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. false false DIVIDENDS AND INTEREST PAID TO APPROXIMATELY 69,000 MEMBERS ON THEIR SHARE ACCOUNTS, MONEY MAKET ACCOUNTS, AND CERTIFICATE OF DEPOSIT ACCOUNTS. EMPLOYEE LABOR AND BENEFIT COSTS INCURRED TO SUPPORT SAVINGS SERVICES, LOAN ORIGINATIONS, AND SERVICING THE LOAN PORTFOLIO FOR ITS MEMBERS. OFFICE EXPENSE AND DATA PROCESSING EXPENSE NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITY BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICES. false false false false false false false false false true false false false true false false true false false false false false false false false false false false true false false false false false false false false false false false true false false false true 20057 0 true 275 true true true false false false false false X 6 6 false false false false true true false true true false true true false true true true true true true true false X JEROME MCGEE 3303728100 3181 LARCHMONT AVE NE WARREN OH 44483 RAYMOND MANOFSKY 2.00 X 2251 0 0 CHERYL DIGIACOBBE 2.00 X 1852 0 0 JACK WILSTER 5.00 X 1548 0 0 JOE NOARK 1.50 X 0 0 0 RICHARD RHODANZ 5.00 X 0 0 0 MICHAEL GRZESIAK 1.50 X 0 0 0 WILLIAM SKELISKI 1.50 X 0 0 0 MICHAEL ROBINSON 1.50 X 0 0 0 GARY SOUKENIK 50.00 X 400320 0 44100 JEROME MCGEE 50.00 X 176514 0 38503 MICHAEL DONADIO 50.00 X 158597 0 34282 PHILLIP SZEPIETOWSKI 45.00 X 147490 0 32195 CHERYL D'AMORE 45.00 X 142265 0 32038 CAMILLE FAVRE 45.00 X 130578 0 38877 ERIC LANHAM 45.00 X 89357 0 13637 RONALD MINTUS 45.00 X 108287 0 24308 DARLENE CESTA 45.00 X 101941 0 15481 1461000 273421 8 false true false CRAIG W RELMAN CO LPA 26851 MILES RD UNIT 204 CLEVELAND OH 44128 LEGAL 111389 1 INTEREST ON LOANS 31258333 31258333 FEE INCOME 7848116 7848116 OTHER OPERATING INCOME 4406774 4406774 NON-MEMBER ATM FEES 900004 158756 158756 RELATED CO PAYMENTS 900003 1872 1872 43673851 2888572 2888572 46562423 46401795 160628 1155764 16618134 39818 36485 16586 1841022 5899341 1904192 82205 64141 7206683 30479 NCUSIF STABILIZATION EXP 1679820 PROVISION FOR LOAN LOSSES 1517582 OTHER OPERATING EXP 948575 LOAN SERVICING 478397 293129 39812353 0 0 0 14979582 7225244 105792422 65449034 486441914 491939961 27847280 17367789 10874345 10479491 85670732 145961146 30949816 28709597 1412847 23008713 25956326 759130371 775720799 12215396 17424440 672615249 676979766 684830645 694404206 X 74299726 81316593 74299726 81316593 759130371 775720799 6750070 266797 X false true true X false false false false false false false false false false false 1506962 1506962 14779514 7381085 7398429 3376058 2991915 384143 8184746 6994789 1189957 10479491 MONEY MARKET ACCOUNTS 214014898 SHARE DRAFT ACCOUNTS 150949069 SHARE CERTIFICATE ACCOUNTS 137212105 SHARE ACCOUNTS 87622640 IRA ACCOUNTS 71471038 OTHER SHARE ACCTS 15164016 NONMEMBER DEPOSITS 546000 676979766 X X false true X X X X false false false GARY SOUKENIK 334046 66274 44100 444420 JEROME MCGEE 160398 16116 38503 215017 MICHAEL DONADIO 144145 14452 34282 192879 PHILLIP SZEPIETOWSKI 134491 12999 32195 179685 CHERYL D'AMORE 129249 13016 32038 174303 CAMILLE FAVRE 118736 11842 38877 169455 FRINGE OR EXPENSE EXPLANATION SCHEDULE J, PAGE 1, PART I, LINE 1A THE CREDIT UNION PAID TRAVEL COSTS FOR THE SPOUSES OF BOARD MEMBERS ACCOMPANYING THE MEMBERS TO CONFERENCES. THE CREDIT UNION PAYS HEALTH/SOCIAL CLUB DUES FOR THE CEO. WRITTEN REIMBURSEMENT POLICY EXPLANATION SCHEDULE J, PAGE 1, PART I, LINE 1B THE CREDIT UNION HAS ADOPTED A POLICY APPROVING PAYMENT OF TRAVEL EXPENSES OF SPOUSES OF BOARD MEMBERS AND SUPERVISORY COMMITTEE MEMBERS. THE AMOUNTS PAID ON BEHALF OF THE MEMBERS' SPOUSES ARE REPORTED AS NON EMPLOYEEE COMPENSATION IN BOX 7 OF THE IRS FORM 1099-MISC. IN 2011 THREE BOARD MEMBERS AND ONE SUPERVISORY COMMITTEE MEMBER RECEIVED FORM 1099-MISC REPORTING AMOUNTS PAID BY THE CREDIT UNION FOR TRAVEL EXPENSES FOR SPOUSES. OTHER ADDITIONAL INFORMATION SCHEDULE J, PART III MEMBERS OF SENIOR MANAGEMENT ARE PARTICIPANTS IN A BENEFIT PLAN REFERRED TO AS A "SERP". DURING THE YEAR ENDING DECEMBER 31, 2011 NO BENEFITS WERE PAID TO ANY PARTICIPANTS. ORGANIZATION'S MISSION FORM 990 - ORGANIZATION'S MISSION THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH, ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. ADDITIONAL INFORMATION FORM 990 NOTE REGARDING DISCOUNTED EMPLOYEE LOANS: THERE IS A PROGRAM IN PLACE THAT WAS APPROVED BY THE BORD OF DIRECTOS FOR LOANS BEING GIVEN AT DISCOUNTED RATES TO CREDIT UNION EMPLOYEES. THESE RATES ARE DISCOUNTED AT .50% INTEREST FOR CONSUMER AND HOME EQUITY LOANS AND .125% FOR FIRST MORTGAGE LOANS. IF AN EMPLOYEE IS TERMINATED FROM EMPLOYMENT, THEN THE LOAN WILL REVERT TO THE NON DISCOUNTED RATE. CLASSES OF MEMBERS OR STOCKHOLDERS FORM 990, PAGE 6, PART VI, LINE 6 MEMBERSHIP IS OPEN TO ALL THOSE PERSONS WHO MEET THE ELIGIBILITY REQUIREMENTS, PROPERLY APPLIED FOR MEMBERSHIP, AND WHO ARE ELECTED TO MEMBERSHIP IN ANY MANNER AS SPECIFIED BY THE BOARD. ONCE BECOMING A MEMBER, MEMBERSHIP REMAINS IN EFFECT UNTIL SUCH TIME AS THE MEMBER DIES, RESIGNS, OR IS EXPELLED, UPON GOOD CAUSE AND NOTIFICATION BY THE BOARD OF DIRECTORS. ELECTION OF MEMBERS AND THEIR RIGHTS FORM 990, PAGE 6, PART VI, LINE 7A THE ANNUAL MEETING OF THE MEMBERS FOR THE ELECTIONS OF THE DIRECTORS AND THE CONSIDERATION OF REPORTS IS HELD PRIOR TO JULY 1 OF EACH YEAR. A QUORUM OF THE MEMBERS, IN PERSON OR BY MAIL BALLOT IS USED FOR VOTING PURPOSES OF THE ANNUAL MEETING. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE FORM AND RELATED SCHEDULES ARE REVIEWED BY THE CEO AND CFO. IT IS ALSO REVIEWED BY THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED MEETING. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS, OFFICERS, AND EMPLOYEES ARE REQUESTED TO DISCLOSE ANY AND ALL CONFLICTS OF INTEREST AS THEY AROSE. A MORE FORMAL MONITORING AND ENFORCEMENT POLICY IS PLANNED TO BE IMPLEMENTED IN THE FUTURE. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE PROCESS USED TO SET THE CEO'S SALARY IS BASED ON A COMBINATION OF INDUSTRY DATA FROM THE "CUES" SALARY SURVEY, CUNA'S ANNUAL COMPENSATION SURVEY AND AN INDEPENDEDNT CREDIT UNION COMPENSATION CONSULTANT. THE PROCESS IS PERFORMED ANNUALLY BY THE COMPENSATION COMMITTEE (A SUBCOMMITEE OF THE BOARD OF DIRECTORS) AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THE PROCESS OF ESTABLISHING AND APPROVING THE CEO'S SALARY IS DOCUMENTED IN THE BOARD MINUTES. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS BASED ON A COMBINATION OF INDUSTRY DATA AND DATA OBTAINED FROM AN INDEPENDENT COMPENSATION CONSULTANT AND IS APPROVED BY THE CEO ON AN ANNUAL BASIS. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 THE CREDIT UNIONS ANNUAL REPORT AND ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH POSTINGS ON THE CREDIT UNIONS WEBSITE AT WWW.SSCU.NET. QUARTERLY FINANCIAL DATA IS ALSO AVAILABLE AT WWW.NCUA.GOV. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE MAIN OFFICE OF THE CREDIT UNION. GOVERNING DOCUMENTS AND THE CONLFICT OF INTEREST POLICY MAY BE MADE AVAILABLE UPON REQUEST. KD PROPERTIES INC 3181 LARCHMONT AVE NE WARREN OH 44483 341521043 FINANCIAL OH N/A SOUND FINANCIAL SERVICES INC 3181 LARCHMONT AVE NE WARREN OH 44483 341481162 FINANCIAL OH N/A C CORP 558115 677180 1.00000 true false false false false false false false true false false false false false false false false false SOUND FINANCIAL SERVICES INC A 1872 KD PROPERTIES INC A