2011-11-14T10:14:21-06:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 520627114 STATE EMPLOYEES CREDIT UNION OF MARYLAND INC STAT 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 STEVEN ARBAUGH 4104877328 2011-11-11 1 COLLIN F BUZZELL 6125738750 2010 2016-03-07 17:11:31Z STEVEN ARBAUGH 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 128864449 0 X WWW.SECUMD.ORG X 1951 MA TO MAKE A POSITIVE CONTRIBUTION TO THE FINANCIAL WELL-BEING OF THOSE WE SERVE. SECU MUST BE KNOWN, VALUED, AND UTILIZED. 9 0 685 68 800838 -41362 0 0 128268833 114838530 14499695 13100507 631992 357559 143400520 128296596 37000 39000 33583767 22961000 31445125 31760008 0 0 0 71316259 64117524 136382151 118877532 7018369 9419064 2024895712 2092646927 1828919712 1891367348 195976000 201279579 X TO PROVIDE OUR MEMBERS WITH LOAN AND DEPOSIT PRODUCTS AT COMPETITIVE RATES. 0 0 SECU PROVIDES DEPOSIT PRODUCTS AND SERVICES TO MEMBERS. THESE DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT AND INDIVIDUAL RETIREMENT ACCOUNTS. AS OF DECEMBER 31, 2010, SECU HAD 502,348 DEPOSIT ACCOUNTS OUTSTANDING. SECU'S DEPOSIT RATES CONTINUE TO BE SOME OF THE MOST COMPETITIVE RATES OFFERED BY FEDERALLY INSURED FINANCIAL INSTITUTIONS. SECU PROVIDES MORTGAGE AND CONSUMER LOANS TO MEMBERS AT COMPLETIVE RATES. THESE LOANS INCLUDE 1ST AND 2ND MORTGAGES, HOME EQUITY LINES OF CREDIT, CREDIT CARD, UNSECURED LINES OF CREDIT, NEW AND USED AUTO LOANS, STUDENT LOANS AND BUSINESS LOANS. AS OF DECEMBER 31, 2010, SECU HAD 108,120 LOANS OUTSTANDING TO MEMBERS TOTALING $1.506 BILLION. IN 2010 SECU PROVIDED ADULT AND YOUTH FINANCIAL EDUCATION SERVICES SUCH AS WORKING WITH SCHOOLS AND SELECT EMPLOYER GROUPS. WE PROVIDE OUR MEMBERS ELECTRONIC ACCESS TO THEIR ACCOUNTS THROUGH HOME BANKING, BILL PAY, CHECK CARDS AND A NETWORK OF ATMS. 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 162516 0 1 685 1 1 1 0 0 0 0 0 0 0 X 9 0 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X STEVEN ARBAUGH 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 GAYLE SEWARD 1.00 X X 28611 0 0 MARK REGER 1.00 X X 22487 0 0 TIMOTHY LAVALLE 1.00 X X 23244 0 0 JOHN KENNEY 1.00 X X 26785 0 0 ELLEN GARDNER 1.00 X 19498 0 0 DONALD TYNES 1.00 X 21654 0 0 JANET BACON 1.00 X 21630 0 0 JOHN LUBER 1.00 X 25054 0 0 JOHN DORSEY 1.00 X 16350 0 0 RODNEY STAATZ 40.00 X 548072 0 49167 STEVEN ARBAUGH 40.00 X 191728 0 24862 MICHAEL GORDY 40.00 X 243934 0 24375 HENRY MADERA 40.00 X 181143 0 27735 MARGARET TUCKER 40.00 X 174376 0 23190 RODERIC FLOWERS 40.00 X 162270 0 17720 JAMES ATKINSON 40.00 X 189960 0 31063 MARGARET YOUNG 40.00 X 148021 0 23491 JOSELI WRIGHT 40.00 X 141566 0 22508 MARK YU 40.00 X 134622 0 21566 CAROL BOWERS 40.00 X 132692 0 21255 2453697 0 286932 28 1 1 0 NCUA PO BOX 979069 ST LOUIS MO 63197 NCUSIF PREMIUM 5401585 DIEBOLD INC 5995 MAYFAIR RD NORTH CANTON OH 44720 ATM MAINTENANCE 3321474 CAREFIRST BLUE CROSS BLUE SHIELD 100 S CHARLES ST BALTIMORE MD 21201 HEALTH INSURANCE 2885248 OPEN TECHNOLOGY SOLUTIONS 8085 S CHESTER ST STE 100 CENTENNIAL CO 80112 CORE SYSTEM SERVICES 2205280 AT&T 1054 PLEASANT TRL CAROL STREAM IL 60197 TELECOMMUNICATIONS-DATA NEWWORK 996417 85 INTEREST ON LOANS 522100 88324716 88324716 SERVICE CHARGES INCOME 522100 21432940 20632102 800838 OTHER FEE INCOME 522100 5399550 5399550 EQUITY IN EARNINGS OF 522100 -318676 -318676 114838530 10585839 10585839 626222 383357 242865 242865 242865 1014945 1684219 184496 1014945 1499723 2514668 2514668 CUSO NON-INTEREST INCO 522100 114694 114694 114694 128296596 114152386 800838 13343372 39000 22961000 1873885 22962867 1730214 3035030 2158012 267553 3390239 1976802 1920570 10817184 175559 297192 6102968 937285 PROVISION FOR LOAN LOSS 19886000 NCUSIF PREMIUM 3316459 POSTAGE/COURIER 2563312 OFFICE SPACE RENTAL 2215689 CHECKING SERVICES/NETWO 1765377 8485335 118877532 44916000 32671125 1494747000 1484208447 2626203 2624308 79944584 36662929 43296536 43281655 407610000 502755981 756193 756193 30943780 26349218 2024895712 2092646927 10075357 9086530 3710355 3159775 1815134000 1879121043 1828919712 1891367348 X 0 0 0 0 195976000 201279579 195976000 201279579 2024895712 2092646927 X 9419064 -4115485 X 0 1 1 X 0 0 1 10715577 10715577 24188280 6295541 17892739 8418931 4300040 4118891 35836514 26067348 9769166 785282 785282 43281655 AVAILABLE-FOR-SALE SECURITIES 437256447 F SECURITIES HELD-TO-MATURITY 47039625 F NATIONAL CREDIT UNION SHARE FUND DEPOSIT 18459909 F 502755981 SHARES AND DEPOSITS 1877358826 ACCRUED DIVIDENDS AND INTEREST PAYABLE 1762217 1879121043 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND REAL ESTATE TAXES ON BEHALF OF ITS MORTAGE LOAN MEMBERS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF FIN48. 1 SCHOLARSHIPS 11 39000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THERE IS A COMMITTEE WHO READS THE ESSAYS THAT ARE SUBMITTED BY THE CHILDREN OF MARYLAND STATE EMPLOYEES. THE WINNERS OF THE SCHOLARSHIPS ARE CHOSEN BY THE COMMITTEE. CHECKS ARE ISSUED DIRECTLY TO THE SCHOOL, REFERENCING THE STUDENT'S NAME. THERE IS NO ADDITIONAL MONITORING OF THE FUNDS. X X X X X 0 0 0 RODNEY STAATZ 438072 0 110000 0 0 0 36320 0 12847 0 597239 0 0 0 STEVEN ARBAUGH 164415 0 27313 0 0 0 14290 0 10572 0 216590 0 0 0 MICHAEL GORDY 212774 0 31160 0 0 0 16554 0 7821 0 268309 0 0 0 HENRY MADERA 154507 0 26286 0 350 0 15444 0 12291 0 208878 0 0 0 MARGARET TUCKER 153240 0 21136 0 0 0 14317 0 8873 0 197566 0 0 0 RODERIC FLOWERS 139563 0 22307 0 400 0 14059 0 3661 0 179990 0 0 0 JAMES ATKINSON 15343 0 174617 0 0 0 18333 0 12730 0 221023 0 0 0 MARGARET YOUNG 125675 0 21896 0 450 0 12993 0 10498 0 171512 0 0 0 JOSELI WRIGHT 124845 0 16721 0 0 0 12025 0 10483 0 164074 0 0 0 MARK YU 120897 0 13725 0 0 0 11572 0 9994 0 156188 0 0 0 CAROL BOWERS 119398 0 12994 0 300 0 11086 0 10169 0 153947 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, 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 FORM 990 IS REVIEWED BY THE CFO AND CONTROLLER PRIOR TO FILING WITH THE IRS.A COPY WILL ALSO BE PROVIDE TO THE BOARD OR DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C SECU ADMINISTRATION AND INTERNAL AUDIT HANDLE THE CREATION AND MAILING OF THE ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES TO THE MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, CREDIT COMMITTEE, VPS AND OTHER KEY EMPLOYEES (AS DESIGNATED BY THE CEO). RESPONSES ARE MAILED DIRECTLY TO M&P IN PREPAID ENVELOPES FOR THEIR INDEPENDENT REVIEW AND RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 FOR VP LEVEL EMPLOYEES, THE PRESIDENT/CEO CONTROLS DECISIONS, WITH THE BOARD BEING INFORMED OF THE DECISION- BUT NOT FORMALLY INVOLVED. THE CEO USES EXTERNAL SOURCES FOR VP SALARY MARKET DATA. THE CEO REVIEWS THIS DATA AND SETS VP MARKET SALARIES IN CONJUNCTION WITH THE VP OF HR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE ANNUAL MEETING AND UPON REQUEST OF OUR MEMBERS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET CHANGE IN UNAMORTIZED LOSSES - POST RETIREMENT HEALTH CARE PLAN -79,709. NET CHANGE IN UNREALIZED LOSSES - AVAILABLE-FOR-SALE SECURITIES -4,035,776. TOTAL TO FORM 990, PART XI, LINE 5: -4,115,485. SECURITY FINANCIAL GROUP 971 CORPORATE BOULEVARD LINTHICUM MD 21090 521804772 INSURANCE SALES MD STATE EMPLOYEES CREDIT UNION OF MARYLAND C 114913 444770 1.00000 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0