2021-11-15T16:39:48-06:00 2020-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1200 MINNEAPOLIS MN 554022526 990 2020-01-01 060701899 MUTUAL SECURITY CREDIT UNION INC MUTU 2034027434 12 PROGRESS DRIVE SHELTON CT 06484 STEPHEN OSOWIECKI CFO 2034027409 2021-11-15 1 STEPHEN OSOWIECKI 999009999 KACIE MCEWEN P01599614 6123324300 2021-11-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z X HENRY T BAUM 12 PROGRESS DRIVE SHELTON CT 06484 15192515 0 X MSCU.NET X 2001 CT THE MISSION OF MUTUAL SECURITY CREDIT UNION (MSCU) IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS. MSCU OFFERS MEMBERS VARIOUS CONSUMER LOAN PRODUCTS (PERSONAL, AUTO, 1ST & 2ND MORTGAGES, HOME EQUITY LINES OF CREDIT, SMART ENERGY LOANS, VISA CREDIT CARDS).MSCU ALSO OFFERS MEMBERS VISA CHECK/DEBIT CARDS AS WELL AS VARIOUS SAVINGS, CERTIFICATES & CHECKING ACCOUNTS 5 5 82 6 145475 0 0 0 15592195 15034862 196209 157625 0 0 15788404 15192487 6050 6000 2427109 1761920 5844119 5777934 0 0 0 6281964 6449888 14559242 13995742 1229162 1196745 319353478 335855430 295603843 310955926 23749635 24899504 WE ARE A FINANCIAL COOPERATIVE THAT ELEVATES AND SECURES THE STANDARDS OF WELL-BEING WITHIN THE COMMUNITIES THAT WE SERVE. 0 0 MSCU OFFERS MEMBERS VARIOUS CONSUMER LOAN PRODUCTS (PERSONAL LOANS, AUTO LOANS, MORTGAGES - 1ST, 2ND AND HOME EQUITY LINES OF CREDIT, SMART-ENERGY LOANS). NEW LOANS ISSUED IN 2020: PERSONAL LOANS = 434, NEW & USED AUTO LOANS = 1,398, 1ST, 2ND & HELOCS = 210, SMART-ENERGY LOANS = 52. MSCU OFFERS MEMBERS OUR VISA CREDIT CARDS AND VISA CHECK CARD (DEBIT CARD). NEW VISA ACCOUNTS ISSUED IN 2020 = 295. MSCU OFFERS MEMBERS OUR VARIOUS CHECKING ACCOUNT PROGRAMS. NEW CHECKING ACCOUNTS OPENED IN 2020 = 597. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 8266 0 1 82 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X STEPHEN J OSOWIECKI 2034027434 12 PROGRESS DRIVE SHELTON CT 06484 BRUCE M LIKELY CHAIR 5.00 X X 0 0 0 ROBERT MARAGES VICE CHAIR 5.00 X X 0 0 0 ROBERT LUBUS SECRETARY 5.00 X X 0 0 0 KEN DECKER TREASURER 5.00 X X 0 0 0 ROBERT J BASTA DIRECTOR 5.00 X 0 0 0 LARRY F HOLDERMAN CEO EMERITAS (UNTIL 12/31/20) 45.00 X 236854 0 25396 HENRY BAUM CEO 45.00 X 215522 0 36352 STEPHEN J OSOWIECKI CFO 45.00 X 169535 0 35141 ANN NANKERVIS VP HR & COMPLIANCE 45.00 X 134264 0 12408 MICHAEL AUGUSTI VP RETAIL AND MARKETING 45.00 X 141411 0 15086 JEFFREY TRACEY VP OF LENDING 45.00 X 117495 0 21805 MARIA LAZOR DIRECTOR OF OPERATIONS 45.00 X 123762 0 31811 CHRIS HORVATH IT MANAGER 45.00 X 110056 0 2635 1248899 0 180634 8 0 1 0 JACK HENRY & ASSOC INC PO BOX 609 MONETT MO 65708 CORE COMPUTER SYSTEM & MAIN 375697 AT&T PO BOX 5019 CAROL STREAM IL 60197 PHONE/DATA LINES/EQUIP 262380 PRESIDIO NETWORKED SOLUTIONS GROUP LLC PO BOX 677638 DALLAS TX 75267 HARDWARE & SOFTWARE SUPPORT 140726 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM MACHINES - PURCHASE & MAINT 129468 SWBC LENDING SOLUTIONS LLC 9311 SAN PEDRO AVE STE 600 SAN ANTONIO TX 78216 R/E APPRAISALS & FLOOD INSPECTIONS 123856 51 INTEREST INCOME 522100 11609086 11609086 FEES AND CHARGES 522100 2179712 2162545 17167 VISA FEE INCOME 522100 618310 618310 MISC. OPERATING INCOME 522100 382713 254405 128308 MORTGAGE FEE INCOME 522100 245041 245041 15034862 157653 157653 28 -28 -28 -28 15192487 14889387 145475 157625 6000 1761920 718801 3885543 104874 723579 345137 85078 1625 59100 98085 1485268 1074048 659040 9368 70456 274826 718711 80911 LOAN SERVICING 891946 PROVISION FOR LOAN LOSS 871619 DUES 36333 EXAM FEES 16800 16674 13995742 9193310 21417058 3477000 2979000 290294591 285866080 522287 677552 11916225 6211577 6421132 5704648 764500 10148553 8680658 9062539 319353478 335855430 315546 161826 1812900 1989638 293475397 308804462 295603843 310955926 X 0 0 0 0 23749635 24899504 23749635 24899504 319353478 335855430 1196745 -46876 0 X 0 1 X 1 0 0 1 X 2405307 2405307 2359250 615952 1743298 1342935 1069642 273293 5808733 4525983 1282750 5704648 SHARES ON DEPOSIT 291057831 OTHER LIABILITIES 17746631 308804462 PART IV, LINE 2B: MSCU HAS ESCROW ACCOUNTS FOR MEMBERS WITH FIRST MORTGAGE LOANS. THEIR FUNDS ACCUMULATE MONTHLY AND WHEN DUE, MSCU PAYS THEIR TOWN/CITY PROPERTY TAXES AND INSURANCE ON THEIR BEHALF. 1 SCHOLARSHIPS FOR COLLEGE 6 6000 0 N/A PART I, LINE 2: CHECKS ARE MADE PAYABLE TO THE STUDENT AND COLLEGE THEY ARE ATTENDING. X X 0 0 0 LARRY F HOLDERMAN CEO EMERITAS (UNTIL 12/31/20) 236854 0 0 0 0 0 5323 0 20073 0 262250 0 0 0 HENRY BAUM CEO 215522 0 0 0 0 0 5724 0 30629 0 251875 0 0 0 STEPHEN J OSOWIECKI CFO 169535 0 0 0 0 0 4513 0 30629 0 204677 0 0 0 MICHAEL AUGUSTI VP RETAIL AND MARKETING 141411 0 0 0 0 0 3657 0 11429 0 156497 0 0 0 MARIA LAZOR DIRECTOR OF OPERATIONS 123762 0 0 0 0 0 2953 0 28858 0 155573 0 0 0 ALEX HOLDERMAN SON OF CEO EMERITAS 43597 GROSS EARNINGS 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 11B THE CHAIRMAN, AND VICE-CHAIRMAN OR TREASURER OF THE BOARD OF DIRECTORS WILL REVIEW FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION POLICY HAS GUIDELINES FOR VARIOUS TRANSACTIONS TO ENSURE THAT OUR BUSINESS ACTIVITIES ARE PERFORMED IN COMPLIANCE WITH THE SATE OF CT STATUTES. SEGREGATION OF DUTIES IS MANAGED TO ENSURE THAT SYSTEM TRANSACTIONS ARE IN COMPLIANCE WITH THE POLICY. OUTSIDE OF OUR CORE SYSTEM, OTHER AUTHORIZATIONS TO PERFORM HIGH LEVEL FUNCTIONS ARE ASSIGNED UNDER DUAL APPROVAL WITHIN POLICY LIMITS. BOARD APPROVAL IS RECEIVED WHEN NECESSARY FOR THOSE TRANSACTIONS AS STATED IN THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A SALARY AND JOB DESCRIPTION DATA IS OBTAINED FROM A CONSULTANT, HR VALUE GROUP, WHOSE DATA INCLUDES SALARY RANGES FROM THE CUNA SALARY SURVEY, CUES SURVEY, AND THE ECONOMIC RESEARCH INSTITUTE. CEO SALARY IS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).