2011-11-11T14:50:08-06:00 2010-12-30 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 746046840 FIRST SERVICE CREDIT UNION FIRS 8326881318 9621 W SAM HOUSTON PARKWAY N HOUSTON TX 77064 MELISSA DOMINGUES 8326881318 2011-11-11 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z X JERRY D SHRODE 9621 W SAM HOUSTON PARKWAY N HOUSTON TX 77064 15206298 0 X WWW.FSCU.COM X 1934 TX FIRST SERVICE CREDIT UNION IS A COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 7 7 69 0 83107 -154855 0 0 14517996 12923073 -2903273 2283225 0 0 11614723 15206298 5000 0 3239665 1629620 4141449 4368829 0 0 0 7199924 6590419 14586038 12588868 -2971315 2617430 184563807 0 172261829 0 12301978 0 WHERE SERVICE COMES FIRST. 0 0 FIRST SERVICE CREDIT UNION OFFERS SAVINGS ACCOUNTS TO MEMBERS OF ALL AGES THAT PAY DIVIDENDS ON A MONTHLY BASIS. WE HAD JUST OVER 32,000 MEMBER-OWNED SAVINGS ACCOUNTS AS OF DECEMBER 31, 2010. MEMBERS CAN ACCESS THEIR SAVINGS ACCOUNTS THROUGH OUR BRANCH NETWORK, INCLUDING OUR NATIONWIDE SHARED BRANCHING NETWORK. THEY CAN ALSO ACCESS THEIR ACCOUNTS VIA HOME BANKING, TELEPHONE, AND ATMS. WE ALSO OFFER SPECIAL SAVINGS ACCOUNTS FOR OUR CHILDREN AND TEENAGE MEMBERS TO ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. FIRST SERVICE CREDIT UNION OFFERS CHECKING ACCOUNTS FOR OUR MEMBERS. OUR CHECKING ACCOUNTS ALSO PAY DIVIDENDS ON A MONTHLY BASIS. THEY CAN ALSO BE ACCESSED THROUGH OUR BRANCH NETWORK, INCLUDING OUR NATIONWIDE SHARED BRANCHING NETWORK. JUST AS WITH SAVINGS ACCOUNTS, CHECKING ACCOUNTS CAN BE ACCESSED VIA HOME BANKING, TELEPHONE, AND ATMS. CHECKING ACCOUNTS ARE ALSO ELIGIBLE FOR FREE DEBIT CARDS THAT CAN BE ACCESSED WITHOUT A PIN AT MOST MERCHANTS THAT ACCEPT VISA. MEMBERS CAN ALSO PAY BILLS FROM THEIR CHECKING ACCOUNT USING OUR FREE BILL PAY SERVICE. FIRST SERVICE CREDIT UNION OFFERS A VARIETY OF LOAN TYPES, SUCH AS VEHICLE, UNSECURED, BOAT, MOTORCYCLE, RECREATIONAL, AND REAL ESTATE AT COMPETITIVE RATES. 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 4334 0 69 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X MELISSA DOMINGUES 8326881318 9621 W SAM HOUSTON PARKWAY N HOUSTON TX 77064 DAVID ITZ 1.00 X X 0 0 0 PAUL LOVE 1.00 X X 0 0 0 FRED STAHELIN 1.00 X X 0 0 0 BILLIE NEELY 1.00 X 0 0 0 THOMAS SMITH 1.00 X 0 0 0 JACK BARTELL 1.00 X 0 0 0 JAMES HARKRIDER JR 1.00 X 0 0 0 JERRY D SHRODE 50.00 X 205721 0 25464 MELISSA DOMINGUES 50.00 X 92103 0 10605 MIRKO PETRAK 40.00 X 111137 0 14792 DEBRA LITTLE 40.00 X 101160 0 10880 510121 0 61741 3 0 1 0 CIGNA 5089 COLLECTION CENTER DRIVE CHICAGO IL 606930050 MEDICAL INSURANCE FOR EMPLOYEES 363474 MINUTEMAN PRESS 17484 NORTHWEST FREEWAY HOUSTON TX 77040 PRINTING FOR MARKETING MATERIAL 173496 FIDELITY PAYMENT CENTER PROCESSING PO BOX 4 CAROL STREAM IL 601974535 STATEMENT PROCESSING 171440 CUNA MUTUAL GROUP PO BOX 2964 MILWAUKEE WI 532012964 CU INSURANCE & BOND 108949 JACK HENRY PO BOX 503328 ST LOUIS MO 631503328 CORE PROCESSOR 103993 5 INCOME FROM LOANS 522100 8700429 8700429 FEES & CHARGES 522100 3997894 3968165 29729 MISC OPERATING INCOME 522100 224750 171372 53378 12923073 2274441 2274441 8784 8784 8784 8784 15206298 12839966 83107 2283225 1629620 333893 3312031 106870 367276 248759 51390 13175 407348 2020702 269579 553523 15176 46062 95 598898 200933 PROVISION FOR LOAN LOSS 849824 PROVISION FOR INVESTMEN 590000 NCUA STABILIZATION EXPE 429828 SECURITY EXPENSE 346313 LOAN SERVICING 83825 113748 12588868 1618582 303798 139661003 408100 9599379 5985416 24457650 2529879 0 184563807 0 1644436 170617393 0 172261829 0 X 0 0 0 0 12301978 0 12301978 0 184563807 0 X 2617430 -14919408 X 0 0 0 0 X X X X X 0 0 0 JERRY D SHRODE 168821 0 30000 0 6900 0 12168 0 13296 0 231185 0 0 0 NET LOANS 2010-12-31 118168680 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) ACCOUNTS RECEIVABLE 2010-12-31 391373 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) CASH 2010-12-31 1309218 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) INVESTMENTS 2010-12-31 46352323 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) PREPAID EXPENSES 2010-12-31 364702 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) FIXED ASSETS 2010-12-31 8342942 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) ACCRUED INCOME 2010-12-31 564301 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) NCUA SHARE INSURANCE 2010-12-31 1663038 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) NON-EARNING ASSETS 2010-12-31 16072 BOOK VALUE 741951016 RIGHT CHOICE CREDIT UNION 4101 CLINTON HOUSTON TX 77020 501(C)(14) 1 1 0 0 1 1 1 1 0 0 PART I, LINE 2E: ALL OF THE FIRST SERVICE CREDIT UNION BOARD MEMBERS BECAME BOARD MEMBERS OF RIGHT CHOICE CREDIT UNION UPON THE MERGER, NAMES ARE AS FOLLOWS:DAVID ITZ, PAUL LOVE, FRED STAHELIN, BILLIE NEELY, THOMAS SMITH, JACK BARTELL, AND JAMES HARKRIDER, JR.MELISSA DOMINGUES, CFO, AND DEBRA LITTLE, SVP OF FIRST SERVICE CREDIT UNION BECAME EMPLOYEES OF RIGHT CHOICE CREDIT UNION UPON THE MERGER. 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 CFO AND CEO REVIEW FORM 990, ALONG WITH THE BOARD OF DIRECTORS, PRIOR TO FILING THE RETURN WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C THE VP OF INTERNAL AUDIT/COMPLIANCE ASKS THE STAFF ON A MONTHLY BASIS IF THERE HAVE BEEN ANY ISSUES CAUSING CONFLICTS OF INTEREST. ADDITIONALLY, STAFF ARE ENCOURAGED TO CONTACT THE VP OF INTERNAL AUDIT/COMPLIANCE IF THEY HAVE AN ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE HR DEPARTMENT CONDUCTS COMPENSATION SURVEYS FOR EACH POSITION AND DETERMINES A RANGE BASED ON LEVEL OF RESPONSIBILITY WITHIN THE CREDIT UNION. THEN, EACH EMPLOYEE RECEIVES AN ANNUAL REVIEW, AND THEY RECEIVE A PAY INCREASE IF THEIR REVIEW SCORE IS WITHIN A RANGE THAT ALLOWS FOR AN INCREASE. FORM 990, PART VI, SECTION C, LINE 19 THERE IS A NOTICE ON THE CREDIT UNION'S WEBSITE STATING THE GOVERNING DOCUMENTS ARE AVAILABLE FOR MEMBERS TO REVIEW BY CONTACTING THE CREDIT UNION. A LINK TO THE CREDIT UNION'S ANNUAL REPORT IS ALSO ON THE WEBSITE, AND THE STATEMENT OF FINANCIAL CONDITION IS DISPLAYED IN EACH OF CREDIT UNION'S LOBBIES. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: MERGER WITH RIGHT CHOICE CREDIT UNION ON 12/31/2010 -14,919,408. TOTAL TO FORM 990, PART XI, LINE 5: -14,919,408.