2011-08-10T12:20:37-05:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 916049071 CREDIT UNIONS IN THE STATE OF WASHINGTON CATHOLIC CREDIT UNION CRED 5092482960 110 NO FIFTH AVENUE PO BOX 2690 YAKIMA WA 989072690 PAUL T REGIMBAL 5092482960 2011-08-10 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z PAUL T REGIMBAL 110 NO FIFTH AVENUE PO BOX 2690 YAKIMA WA 989072690 8885516 0 1269 X WWW.CATHOLICCU.ORG X 1951 WA THE MISSION OF CATHOLIC CREDIT UNION IS TO PROVIDE ITS MEMBERS WITH A FINANCIALLY SECURE, ETHICALLY MANAGED CREDIT UNION THAT CONTINUALLY FOCUSES ON A COMMITMENT TO PROMPT, COURTEOUS AND CONVENIENT SERVICE AND COMPETITIVELY PRICED SAVINGS AND LOAN PRODUCTS. 9 9 51 11 11224 -27884 0 0 7794746 7621634 1564242 1211682 74298 52166 9433286 8885482 0 0 2624267 1767673 2866241 3186709 0 0 0 4387792 3580543 9878300 8534925 -445014 350557 177113164 190373429 151623801 164533381 25489363 25840048 THE MISSION OF CATHOLIC CREDIT UNION IS TO PROVIDE ITS MEMBERS WITH A FINANCIALLY SECURE, ETHICALLY MANAGED CREDIT UNION THAT CONTINUALLY FOCUSES ON A COMMITMENT TO PROMPT, COURTEOUS AND CONVENIENT SERVICE AND COMPETITIVELY PRICED SAVINGS AND LOAN PRODUCTS. 0 0 CATHOLIC CREDIT UNION PROVIDES LOAN PRODUCTS TO ITS MEMBERSHIP. IN 2010, THERE WERE 2,246 NEW LOANS PROVIDED TO MEMBERS TOTALING $50,346,934. OF THESE LOAN PRODUCTS, 240 WERE EITHER FIRST OR SECOND MORTGAGE RELATED TOTALING $25,326,370. CATHOLIC CREDIT UNION PROVIDES SAVINGS PRODUCTS TO ITS MEMBERSHIP. IN 2010, THERE WERE 29,452 TOTAL SAVINGS AND DEPOSIT PRODUCTS PROVIDED TO 18,888 MEMBERS. OF THESE SAVINGS AND DEPOSIT PRODUCTS, 19,729 WERE SAVINGS ACCOUNTS; 4,134 WERE CHECKING ACCOUNTS; 1,515 WERE INDIVIDUAL RETIREMENT SAVINGS ACCOUNTS AND/OR INDIVIDUAL RETIREMENT CERTIFICATES; 3,723 WERE CERTIFICATES OF DEPOSIT; AND 351 WERE MONEY MARKET RELATED ACCOUNTS. DIVIDENDS PAID TO MEMBERS TOTALED $1,767,673. CATHOLIC CREDIT UNION PROVIDES GENERAL FINANCIAL EDUCATION TO ITS MEMBERS AND THE COMMUNITY. THIS IS DONE THROUGH THE USE OF NEWSLETTERS, TELEVISION PUBLIC SERVICE ANNOUNCEMENTS, AND THE UNDERWIRITING OF FINANCIAL LITERACY SHOWS BEING BROADCAST ON THE PUBLIC BROADCASTING SYSTEMS NETWORK. ADDITIONALLY, FINANCIAL EDUCATION PRESENTATIONS ARE PROVIDED TO HIGH SCHOOL STUDENTS IN COORDINATION WITH THEIR CURRENT CURRICULUM. 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 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 0 1 5047 0 1 51 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 0 1 1 0 X PAULA SLAYE CFO 5092482960 110 NORTH FIFTH AVENUE YAKIMA WA 98902 JAMES P HURLEY 0.50 X X 0 0 0 MARK A CHMELEWSKI 0.30 X X 0 0 0 MARK R KRANZ 0.30 X X 0 0 0 MATTHEW D PETERSON 0.50 X 0 0 0 KAY P GAMACHE 0.30 X 0 0 0 GARY J KISSLING 0.30 X 0 0 0 JOANN MILLER-ROSE 0.30 X 0 0 0 DOUGLAS W NICHOLSON 0.30 X 0 0 0 GARY H WALKER 0.30 X 0 0 0 PAUL T REGIMBAL 40.00 X 189206 0 49223 PAULA M SLAYE 40.00 X 120173 0 26021 TERRY P WHEAT 40.00 X 186745 0 27303 TIMOTHY SPEER 40.00 X 193991 0 30513 690115 0 133060 4 0 1 0 REGENCE BLUE SHIELD 1800 NINTH AVENUE SEATTLE WA 98101 EMPLOYEE MEDICAL INSURANCE 274303 JACK HENRY & ASSOCIATES 663 WEST HIGHWAY 60 MONETT MO 65708 COMPUTER SYSTEM 211234 TD AMERITRADE 1005 N AMERITRADE PLACE BELLEVUE NE 68005 PENSION PLAN 184546 CUNA MUTUAL 5910 MINERAL POINT ROAD MADISON WI 53701 BOND & PROPERTY INSURANCE 183211 INFO IMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT VENDOR 167861 6 LOAN INTEREST 522100 6483226 6483226 FEES AND CHARGES 522100 670971 668731 2240 CREDIT CARD AND OTHER 522100 467437 458453 8984 7621634 1211682 1211682 52200 34 52166 52166 52166 8885482 7610410 11224 1263848 1767673 598671 1869927 209459 298853 209799 5363 70000 94918 224339 484909 278133 296730 851 31392 549150 60143 PROVISION FOR LOAN LOSS 634364 LOAN SERVICING 409639 NCUSIF CORPORATE STABIL 392388 DUES 35259 DONATIONS 12965 8534925 1896627 686672 11475598 28425444 110343629 100298727 1055525 927730 11354982 4923892 6855399 6431090 457359 1410308 44847579 51387962 181448 805496 177113164 190373429 501417 625277 125211 232399 150997173 163675705 151623801 164533381 X 0 0 0 0 25489363 25840048 25489363 25840048 177113164 190373429 X 350557 128 X 0 1 1 X 0 0 1 1444131 1444131 6652607 2401541 4251066 382112 94349 287763 2848002 2399872 448130 28130 28130 0 6431090 BANKS,SAVINGS & LOANS 49855719 F NCUA CAPITALIZATION FUND 1532243 F 51387962 MEMBER SAVINGS/DEPOSITS 163675705 163675705 8885482 8534925 350557 128 128 350685 8885482 0 8885482 0 8885482 8534925 0 8534925 0 8534925 PART IV, LINE 2B: THE CREDIT UNION HOLDS AMOUNTS IN ESCROW FOR MEMBER LOANS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE CREDIT UNION HAS DETERMINED THAT THERE IS NO MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS FROM THE ADOPTION AND REQUIREMENTS OF FIN 48. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED HOLDING LOSSES ON INVESTMENTS CLASSIFIED AS AVAILABLE-FOR-SALE 128. X 1 1 X X 0 0 0 PAUL T REGIMBAL 137671 0 0 0 51535 0 41612 0 7611 0 238429 0 0 0 TERRY P WHEAT 120264 0 500 0 65981 0 19995 0 7308 0 214048 0 0 0 TIMOTHY SPEER 0 0 500 0 193491 0 23172 0 7341 0 224504 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: IN ACCORDANCE WITH DIRECTIONS ISSUED BY NCUA AND THE WASHINGTON STATE DEPARTMENT OF FINANCIAL INSTITUTIONS, REIMBURSEMENT OF EXPENSES CONSISTENT WITH THE PURPOSE AND SCOPE OF THIS POLICY MAY BE PERMITTED FOR A BOARD OF DIRECTORS, COMMITTEE PERSONS, OR EMPLOYEE'S SPOUSE OR DOMESTIC PARTNER WHEN HE/SHE ACCOMPANIES ONE OF THE ABOVE ON TRAVEL RELATED TO THE CREDIT UNION'S BUSINESS. REIMBURSEMENT OF EXPENSES FOR IMMEDIATE FAMILY MEMBERS OTHER THAN A SPOUSE OR DOMESTIC PARTNER IS NOT PERMITTED. 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, OR 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 CHIEF FINANCIAL OFFICER REVIEWS THE FORM 990 MATCHING IT WITH INFORMATION/DATA FROM THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS. ANYTHING FOUND TO BE EITHER UNUSUAL OR UNKNOWN IS QUESTIONED. THESE QUESTIONS ARE REFERRED BACK TO THE SUPPORT STAFF OF THE ENTITY ASSISTING IN THE COMPLETION OF THIS DOCUMENT, AT THIS TIME THAT IS RSM MCGLADREY. A COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS SUBSEQUENT TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C FIRST, ALL ACTIVITIY ON EMPLOYEE ACCOUNTS EITHER REQUIRES OVERRIDE AUTHORITY OR IS MONITORED BY THE INTERNAL AUDITOR. SECOND, THE POTENTIAL CONFLICT RELATING TO THE GOVERNING BOARD (BOARD/COMMITTEE MEMBERS) IS NOT PERTINENT AS WE DO NOT ALLOW THEM ANY SPECIAL RATES AND/OR TERMS. ANY FUNDS THEY MAY RECEIVE FROM MEMBERS WOULD BE IN THE NORMAL COURSE OF THEIR BUSINESSES. FORM 990, PART VI, SECTION B, LINE 15 CATHOLIC CREDIT UNION USES THREE SURVEYS IN THE ESTABLISHMENT OF ITS EXECUTIVE COMPENSATION LEVELS. BOTH THE CUES AND CUNA SALARY SURVEYS ARE USED IN ADDITION TO AN INDEPENDENT SURVEY THAT FOCUSES ON MORE REGIONAL INFORMATION. THE CUES AND CUNA SURVEYS DO HAVE ADJUSTMENT FACTORS DEPENDING ON DIFFERENT GEOGRAPHICAL AREAS IN THE COUNTRY. THE INFORMATION IS OBTAINED AND CONSOLIDATED BY OUR HUMAN RESOURCES DEPARTMENT. THE PERSONNEL COMMITTEE REVIEWS THE INFORMATION AND PRESENTS THEIR RECOMMENDATIONS TO THE FULL BOARD FOR THEIR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 CATHOLIC CREDIT UNION (CCU) DOES NOT MAKE ITS' BY-LAWS AVAILABLE TO THE PUBLIC. CCU DOES HAVE A CODE OF ETHICS POLICY THAT INCLUDES A SECTION DEALING WITH CONFLICTS OF INTEREST. THE POLICY IS REVIEWED WITH THE STAFF AND BOARD ON AN ANNUAL BASIS AND EACH STAFF AND BOARD MEMBER HAS SIGNED AN ACKNOWLEDGEMENT OF RECEIPT AND COMPLIANCE OF THIS POLICY. WHILE THIS IS NOT A PUBLISHED PUBLIC POLICY, THE CREDIT UNION WOULD HAVE NO PROBLEM PROVIDING A COPY TO MEMBERS WHO MIGHT ASK. THE YEAR-END FINANCIAL STATEMENT IS INCLUDED AS PART OF THE ANNUAL REPORT OF THE CREDIT UNION AND IS MADE AVAILABLE TO CURRENT AND POTENTIAL MEMBERS AT THEIR REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED HOLDING LOSSES ON INVESTMENTS CLASSIFIED AS AVAILABLE-FOR-SALE 128. TOTAL TO FORM 990, PART XI, LINE 5: 128.