2011-05-09T10:22:34-05:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 390477300 PRIME FINANCIAL CREDIT UNION PRIM 4144864601 5656 SOUTH PACKARD AVENUE CUDAHY WI 53110 CHRISTINE MOCZYNSKI 4144864601 2011-05-09 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z CHRISTINE MOCZYNSKI 5656 SOUTH PACKARD AVENUE CUDAHY WI 53110 11442830 0 X WWW.PRIMEFINANCIALCU.ORG X 1923 WI PRIME FINANCIAL CREDIT UNION (PFCU) IS DEDICATED TO IMPROVING THE FINANCIAL WELL-BEING OF ITS MEMBERS BY PROVIDING INNOVATIVE, COMPETITVE, AND HIGH-QUALITY SERVICES AND PRODUCTS. 7 7 93 0 52881 -3835 0 0 12236345 10628231 108586 35943 136173 778656 12481104 11442830 0 0 3030192 1655229 3478770 2803810 0 0 0 15562450 6509228 22071412 10968267 -9590308 474563 153893721 134878809 149109663 129620188 4784058 5258621 THE CREDIT UNION OFFERS ITS MEMBERS FINANCIAL SOLUTIONS INCLUDING A VARIETY OF SAVING, CHECKING, INVESTMENT AND LENDING PROGRAMS. MEMBERS RELY OF PFCU TO NOT ONLY ASSIST THEM IN GROWING THEIR SAVINGS BUT TO HELP THEM SAVE MONEY WHEN NEEDING TO BORROW FUNDS. 0 0 PFCU'S LENDING PROGRAMS ASSIST PEOPLE IN LOWER INCOME LEVELS. ONE EXAMPLE WOULD BE EZ PAY DAY PROGRAMS. THEY OFFER A SOLUTION TO PAY DAY LENDING STORES WHICH CHARGE EXCESSIVE INTEREST RATES AND CAPTURE CONSUMERS. 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4839 0 1 93 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 0 1 1 1 0 X DAVID BIENEMAN 4144864602 5656 SOUTH PACKARD AVENUE CUDAHY WI 53110 HB STAFFILENO 1.00 X X 0 0 0 CHRIS TIMM 1.00 X X 0 0 0 ERIC MOORE 1.00 X X 0 0 0 RALPH DEVITO 1.00 X X 0 0 0 SUZANNE COWAN 1.00 X 0 0 0 KIM BRILOWSKI 1.00 X 0 0 0 KAREN MACK 1.00 X 0 0 0 STEVEN BEJMA 1.00 X 0 0 0 RANDY PERRY 1.00 X 0 0 0 SEAN SLOWEY 1.00 X 0 0 0 CHRISTINE MOCZYNSKI 40.00 X 108661 0 13484 COLLEEN JAKUBOWSKI 40.00 X 83999 0 13484 192660 0 26968 1 0 0 0 ANTHEM PO BOX 105153 ATLANTA GA 30348 EMP. HEALTH INS. 545191 CHRISTINE DAWE LLC PO BOX 1160 MELBOURNE AR 72556 CONSULTING 227847 JACK HENRY & ASSOCIATES PO BOX 503328 ST LOUIS MO 63150 DATA PROCESSOR 153820 THE STATEMENT COMPANY 16300 W GLENDALE DR NEW BERLIN WI 53151 PRINTING/MAILING MEMBER STMTS 138978 4 INCOME FROM LOANS 522100 8011690 8011690 FEE INCOME 522100 2616541 2563660 52881 10628231 35943 35943 35856 35856 35856 35856 REIMB. FROM BOND CLAIM 522100 691658 691658 MISCELLANEOUS INCOME 522100 51142 51142 742800 11442830 11318150 52881 71799 1655229 219627 1981016 426830 176337 246816 276727 42609 17382 718683 382931 577599 7995 -6349 142146 424760 LOAN LOSS EXPENSE 2033005 LOAN SERVICING 558842 WRITE DOWN OF CUMI ASSE 471626 NCUA ASSESSMENT 337509 276947 10968267 2317606 2336801 36554 30592 126683835 108304713 4248276 4614869 10430362 4931382 5909105 5498980 10210476 12472864 4487869 1619990 153893721 134878809 751515 575562 341249 211292 3000000 3000000 145016899 125833334 149109663 129620188 X 0 0 0 0 4784058 5258621 4784058 5258621 153893721 134878809 474563 X 0 1 1 X 0 0 1 1183075 1183075 5432253 1672942 3759311 217734 55214 162520 3597300 3203226 394074 5498980 INVESTMENTS IN OTHER CU 497193 F INVESTMENT IN CUSO'S 85900 F NCUA INSURANCE DEPOSIT 1303614 C OTHER INVESTMENTS 10586157 F 12472864 DIVIDENDS PAYABLE 130755 MEMBER DEPOSITS 125570580 OTHER LIABILITIES 131999 125833334 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN AN ESCROW ACCOUNT, RELATING TO ITS MORTGAGE LOANS, TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MEMBERS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED NEW GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE CREDIT UNION ADOPTED THIS GUIDANCE FOR THE YEAR ENDED SEPTEMBER 30, 2010. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE ADOPTION OF THE GUIDANCE HAS NO EFFECT ON THE CREDIT UNION'S FINANCIAL STATEMENT AT SEPTEMBER 30, 2010. X X X 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 THE CEO/VP OF FINANCE WILL REVIEW FORM 990 PRIOR TO FILING WITH THE IRS. A COPY WILL ALSO BE PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE POLICIES SURROUNDING THE CREDIT UNION'S CODE OF ETHICS, ALONG WITH OUTSIDE EMPLOYMENT, ARE MONITORED AND ENFORCED BY THE HUMAN RESOURCE DEPARTMENT WITH THE ASSISTANCE OF THE MANAGEMENT TEAM. FORM 990, PART VI, SECTION B, LINE 15 THE CEO DETERMINES PROPER COMPENSATION FOR THE EXECUTIVE MANAGEMENT TEAM WITH AN OVERALL SALARY BUDGET APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. IN ADDITION, COMPENSATION SURVEYS ARE USED AS COMPARABLE DATA TO GENERATE APPROPRIATE COMPENSATION FIGURES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE AT THE ANNUAL MEETING. THE CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.