2022-09-21T15:11:17-05:00 2021-12-31 383567911 REHMANN ROBSON LLC PO BOX 2025 SAGINAW MI 486052025 990 2021-01-01 381514946 SECURITY CREDIT UNION SECU 8102352322 5255 SECURITY PARK BLVD HOLLY MI 48442 HEIDI SCHWARZ VP OF ACCOUNTING 8102352322 2022-09-06 1 HEIDI SCHWARZ 999009999 JEFFREY E HERT CPA P00066715 9897999580 2022-09-06 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z CHRISTOPHER ESTES 5255 SECURITY PARK BLVD HOLLY MI 48442 38602023 0 X WWW.SECURITYCU.ORG X CREDIT UNION 1955 MI WE ARE OUR MEMBERS' TRUSTED, SECURED FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE. 7 7 175 7 261510 0 0 0 25786890 25994636 1225030 1638734 0 0 27011920 27633370 0 0 0 0 9055219 9603431 0 0 0 15953224 13910826 25008443 23514257 2003477 4119113 541296388 601751923 497746620 555915107 43549768 45836816 WE ARE OUR MEMBERS' TRUSTED, SECURED FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE. 0 0 PROVIDE 51,610 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, MONEY MARKET AND CERTIFICATE ACCOUNTS TOTALING 86,275. PROVIDE LOANS INCLUDING VEHICLE, BUSINESS, FIRST MORTGAGE, HOME EQUITY, LINE OF CREDIT, AND UNSECURED LOANS. OFFER AUTOMATED TELLER MACHINES, WIRE TRANSFERS, MONEY ORDERS, HOME BANKING, MOBILE BANKING, AND VARIOUS INSURANCE PROGRAMS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 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 1 2734 0 1 175 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 0 1 1 1 1 0 0 0 0 1 1 1 1 1 1 1 0 X THE ORGANIZATION 8102352322 5255 SECURITY PARK BLVD HOLLY MI 48442 JOSEPH NIEDZWIECKI 1ST VICE CHAIRMAN 2.00 X X 0 0 0 PHIL THICK TREASURER 2.00 X X 0 0 0 JESSIE COLLINS DIRECTOR 2.00 X 0 0 0 JOHN TRUCHAN CHAIRMAN 2.00 X X 0 0 0 RICHARD HAZEL SECRETARY 2.00 X X 0 0 0 DONALD HENRY 2ND VICE CHAIRMAN 2.00 X X 0 0 0 DON SORENSEN DIRECTOR 2.00 X 0 0 0 CHRISTOPHER ESTES PRESIDENT AND CEO 40.00 X 723168 0 113846 HEIDI SCHWARZ VP OF ACCOUNTING 40.00 X 116343 0 32686 JOSEPH REGAN VP OF IT 40.00 X 143956 0 34924 JAY YAX SVP OPERATIONS AND COO 40.00 X 183558 0 63981 SCOTT KNOPF VP OF LENDING/LOSS PREVENT 40.00 X 128298 0 33358 1295323 0 278795 8 0 1 0 JACK HENRY PO BOX 609 MONETT MO 65708 ELECTRONIC PROCESSING SERVICES 1598837 INFORMA BUSINESS SYSTEMS 5170 HARTSHORN DR FLUSHING MI 48443 ATM PROCESSING AND MAINTENANCE 1534212 US SIGNAL CO LLC 201 IONIA AVE SW GRAND RAPIDS MI 49503 TELEPHONE SERVICE PROVIDER 310290 VELOCITY PO BOX 460939 FORT LAUDERDALE FL 33346 MEMBERSHIP REWARDS AND UTILIZATION PROGR 292107 DOXIM 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 COMMUNICATIONS MANAGEMENT 253277 22 LOAN INTEREST INCOME 522100 18275938 18275938 FEE AND OTHER INCOME 522100 7457188 7457188 NON-MEMBER INSURANCE INCOME 524298 165466 165466 NON-MEMBER ATM INCOME 900099 96044 96044 25994636 1455898 1455898 10799757 351732 10658909 309744 140848 41988 182836 182836 27633370 25733126 261510 1638734 1274116 6031872 339566 1460403 497474 15282 65208 45994 857182 3633906 608366 1587144 127610 41273 802803 1686401 305971 LOAN SERVICING 2242696 OTHER OPERATING EXPENSE 1097240 PROVISION FOR LOAN LOSS 629362 OPERATING FEE 164388 23514257 27028893 47494311 7661274 13821898 1409865 1368130 369315005 382069111 867713 1168079 43103472 16859496 26332401 26243976 46376219 53735003 43840386 56917834 4662424 5227197 13802208 13706384 541296388 601751923 10412836 7470611 487333784 548444496 497746620 555915107 X 0 0 0 0 43549768 45836816 43549768 45836816 541296388 601751923 X 4119113 -2250368 418303 X X 0 1 X 1 0 8561602 8561602 18468724 5590904 12877820 3098660 1879251 1219409 12705811 9335504 3370307 268675 53837 214838 26243976 AFS SECURITIES 55704234 F OTHER SECURITIES 610000 C FED HOME LOAN BANK STOCK 603600 C 56917834 MEMBERS SHARES AND DEPOSITS 548444496 548444496 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL AND STATE INCOME TAXES. X 1 1 X X X 0 1 0 CHRISTOPHER ESTES PRESIDENT AND CEO 342442 0 80726 0 300000 0 94800 0 19046 0 837014 0 300000 0 JAY YAX SVP OPERATIONS AND COO 163205 0 20353 0 0 0 44935 0 19046 0 247539 0 0 0 JOSEPH REGAN VP OF IT 133090 0 10866 0 0 0 15878 0 19046 0 178880 0 0 0 SCOTT KNOPF VP OF LENDING/LOSS PREVENT 118591 0 9707 0 0 0 14209 0 19149 0 161656 0 0 0 PART I, LINE 1A EACH BOARD AND COMMITTEE MEMBER IS ENTITLED TO HAVE THEIR SPOUSE ACCOMPANY THEM TO THE CONFERENCE. PART I, LINE 4B CHRISTOPHER ESTES, PRESIDENT/CEO PARTICIPATED IN A 457(F) NON-QUALIFIED PLAN WITH CERTAIN OTHER INDIVIDUALS THAT HAS A BALANCE ON DECEMBER 31, 2021 OF $10,139,020. FORM 990, PART VI, SECTION A, LINE 4 BY-LAWS CHANGED TO EXPAND THE FIELD OF MEMBERSHIP IN OHIO. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS, WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE, AND VOTING. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT MEMBERS OF THE GOVERNING BODY EACH YEAR AT THE ANNUAL MEETING. BOARD OF DIRECTORS MEMBERS ARE ELECTED FOR THREE YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE MERGERS INTO ANOTHER INSTITUTION AND CHARTER CHANGES. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW IS COMPLETED BY THE VP OF ACCOUNTING PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C UPON ELECTION OR APPOINTMENT, THE BOARD OF DIRECTORS SIGN AN OATH OF OFFICE THAT INCLUDES A CONLICT OF INTEREST STATEMENT. MANAGEMENT SIGNS A CONFLICT OF INTEREST POLICY ANNUALLY AND IS REVIEWED BY THE PRESIDENT/CEO. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO PERFORMANCE AND APPROVES COMPENSATION. THIS IS DOCUMENTED IN THE MINUTES AND CREDIT UNION EXECUTIVE SOCIETY (CUES), AS WELL AS THE NATIONAL ASSOCIATION OF CREDIT UNION CHAIRMEN CEO SALARY SURVEY. THE PRESIDENT/CEO REVIEWS ALL EXECUTIVE COMPENSATION USING THE CREDIT UNION EXECUTIVE SOCIETY (CUES) GUIDE AND DOCUMENTATION IS RETAINED IN THEIR PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH OFFICE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN UNRECOGNIZED RETIREMENT COSTS 418,303. FORM 990, PART XII, LINE 2C THE PROCESS FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEARS.