2020-10-30T14:24:13-05:00 2019-12-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2019-01-01 230961140 PENNSYLVANIA STATE EMPLOYEES CREDIT UNION % HEATHER RIVAS PENN 8002377328 1500 ELMERTON AVENUE HARRISBURG PA 17110 CAROL NOBLIT VP, FINANCE 2673303000 2020-10-29 true ERIC M MCNEIL P00460263 2673303000 155.201.35.58 23522320203045000020 2020-10-30 P 2719192911BCB3EB586EADDE14073544A58AB321 9706CFE2288F3FEBF7F0F4400A5942D8BE8052A8 2019 2021-04-22 16:20:28Z GEORGE RUDOLPH 1500 ELMERTON AVENUE HARRISBURG PA 17110 298957717 false X WWW.PSECU.COM X 1933 PA SEE SCHEDULE O 9 9 1174 0 1183319 0 0 241276927 268108798 18415234 21048664 12812468 8407926 272504629 297565388 286982 300225 0 0 69930628 69544822 0 0 0 161777622 175865819 231995232 245710866 40509397 51854522 5356853183 6284723902 4763360676 5639519713 593492507 645204189 SEE SCHEDULE O false false As of December 31, 2019, the Pennsylvania State Employees Credit Union had 472,601 members to whom it provides deposit and loan services. There were 316,662 loans with balances of $4,618,291,414 outstanding at December 31, 2019. Share deposits were $5,602,608,308. PSECU strives to provide its members with high quality, convenient financial products and services with superior pricing. false false false false false false false true false true false false false true false true false false false false false false false false false false true false true false false false false false false false false false false false false false false true 181 0 true 1174 true true true false false false false false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X X HEATHER RIVAS 7177772265 1500 ELMERTON AVENUE HARRISBURG PA 17110 GREGORY A SMITH CEO UNTIL 4/1/19 37.5 0.0 X 679056 0 112510 GEORGE RUDOLPH CEO 37.5 0.0 X 483450 0 109040 THOMAS J RUBACK COO 37.5 0.0 X 357605 0 60555 WILLIAM C ZYSK CCO 37.5 0.0 X 355202 0 59340 RICHARD L LONG VP 37.5 0.0 X 358086 0 41543 BARBARA J BOWKER VP 37.5 0.0 X 355716 0 41823 CAROL M NOBLIT VP OF FINANCE 37.5 0.0 X 288985 0 39241 CATHERINE M TAMA-TROUT VP 37.5 0.0 X 274767 0 49128 SCOTT J DAVIS VP 37.5 0.0 X 244720 0 49950 ANDREW J COY AVP 37.5 0.0 X 222003 0 46332 JODI HARNER AVP 37.5 0.0 X 216441 0 38805 TAMMY HEIMBAUGH CAO 37.5 0.0 X 181938 0 29464 JOSEPH A LAWRUK DIRECTOR 9.0 0.0 X 20465 0 0 MICHAEL C FERSTER DIRECTOR 9.0 0.0 X 20140 0 0 JODI LYNNE BLANCH DIRECTOR 9.0 0.0 X 19360 0 0 TIMOTHY D GRUNSTRA DIRECTOR 9.0 0.0 X 18870 0 0 SHAWN W WEIS DIRECTOR 8.0 0.0 X 15730 0 0 MATTHEW B WAGONER DIRECTOR 8.0 0.0 X 15713 0 0 R BRIAN WILBUR DIRECTOR 8.0 0.0 X 14226 0 0 JOSEPH SASSANO DIRECTOR 8.0 0.0 X 13890 0 0 LEANNA L MEISER DIRECTOR 8.0 0.0 X 12085 0 0 4168448 0 677731 78 false true false MCNEES WALLACE NURICK PO BOX 1166 HARRISBURG PA 17108 LEGAL SERVICES 831285 WELTMAN WEINBERG REIS 323 LAKESIDE AVE STE 200 CLEVELAND OH 44113 LEGAL/COLLECTION SVC 759066 ALLIED UNIVERSALALLIED BARTON 161 WASHINGTON STREET STE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 341938 G4S SECURE INTEGRATION LLC 1200 LANDMARK CENTER SUITE 1300 OMAHA NE 68102 SECURITY SERVICES 195770 RSM US LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 AUDIT SERVICES 192810 12 0 INTEREST ON LOANS TO MEMBERS 522291 219184971 219184971 CREDIT CARD INTERCHANGE FEES 522100 36051041 36051041 ATM INCOME 522200 4896200 3900935 995265 CHECKING ACCOUNT FEES 522100 7976586 7976586 268108798 21055788 21055788 0 0 0 0 0 1385205 1392329 -7124 -7124 -7124 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 8407926 8219872 188054 8407926 297565388 275326281 1183319 21055788 300225 0 0 0 5236093 0 45917422 4987502 9149708 4254097 0 928977 243611 0 0 0 7745032 14169569 8869499 10965774 0 5176039 965012 0 0 33349247 0 7961078 715976 PROVISION FOR LOAN LOSSES 30617173 LOAN SERVICING EXPENSE 20203032 ATM EXPENSE 11701463 CHECK CARD PROGRAM EXPENSE 9153232 13101105 245710866 583279855 1191763248 122439849 154207377 0 0 0 0 0 0 0 0 4227748151 4573296857 0 0 0 0 140442834 52182609 90581045 88260225 237670116 181418166 9105880 8092350 0 0 0 0 86028287 87685679 5356853183 6284723902 51569000 34113478 0 0 0 0 0 0 10270332 12430778 0 0 0 0 0 0 4701521344 5592975457 4763360676 5639519713 X 0 0 692791 692791 592799716 644511398 593492507 645204189 5356853183 6284723902 X 51854522 1901979 -2044819 X false true X true false false true X 4442176 4442176 75510158 12725748 62784410 3028651 1968738 1059913 32945895 24927534 8018361 24515954 12560589 11955365 88260225 0 MEMBERS' SHARES 5590177531 OTHER LIABILITIES 2797926 5592975457 297565388 297565388 297565388 245710866 245710866 245710866 PART IV, LINE 2B ESCROW ACCOUNTS ARE HELD FOR MORTGAGE LOANS. true AMERICAN HEART ASSOCIATION 7272 GREENVILLE AVE DALLAS TX 75231 135613797 501(c)(3) 60000 GENERAL DONATION CHILDREN'S MIRACLE NETWORK 100 ACADEMY DR DANVILLE PA 17822 870387205 501(c)(3) 20000 GENERAL DONATION LEADERSHIP HARRISBURG AREA 3211 N FRONT ST HARRISBURG PA 17110 251583596 501(C)(3) 10400 GENERAL DONATION PA CREDIT UNION FOUNDATION 4309 N FRONT ST HARRISBURG PA 17110 251786339 501(c)(3) 19100 GENERAL DONATION CENTRAL PA FOOD BANK 3908 COREY RD HARRISBURG PA 17109 232202250 501(C)(3) 30000 GENERAL DONATION WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 396093210 501(c)(3) 20000 GENERAL DONATION JUNIOR ACHIEVEMENT OF SOUTH CENTRAL PA 610 S George St York PA 17403 231598129 501(c)(3) 14800 General Donation YWCA GREATER HARRISBURG 1101 MARKET ST HARRISBURG PA 17103 231370514 501(C)(3) 18800 GENERAL DONATION PA FAMILY SUPPORT ALLIANCE 2000 LINGLESTOWN ROAD STE 301 HARRISBURG PA 17110 251358423 501(C)(3) 10000 GENERAL DONATION UNITED WAY OF THE CAPITAL REGION 2235 MILLENNIUM WAY ENOLA PA 17025 231352095 501(C)(3) 5500 GENERAL DONATION HARRISBURG ACADEMY 10 ERFORD ROAD WORMLEYSBURG PA 17043 232119591 501(C)(3) 6000 GENERAL DONATION THE FOUNDATION FOR ENHANCING COMMUNITIES 200 N 2RD ST 8TH FLOOR HARRISBURG PA 17101 010564355 501(C)(3) 20125 GENERAL DONATION AMERICAN CANCER SOCIETY PO BOX 897 HERSHEY PA 17033 131788491 501(C)(3) 20000 GENERAL SUPPORT SPECIAL OLYMPICS PENNSYLVANIA 2570 BLVD OF THE GENERALS 124 NORRISTOWN PA 19403 520889518 501(C)(3) 10500 GENERAL SUPPORT 14 0 PART I, QUESTION 2 THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION PROVIDES CHARITABLE CONTRIBUTIONS TO QUALIFIED U.S. ORGANIZATIONS AFTER REVIEW OF THEIR FORM 990 TO VERIFY TAX-EXEMPT STATUS. X true true X X X X X false true false GREGORY A SMITH CEO UNTIL 4/1/19 225198 0 272676 0 181182 0 106310 0 6200 0 791566 0 0 0 WILLIAM C ZYSK CCO 263118 0 66987 0 25097 0 38164 0 21176 0 414542 0 0 0 RICHARD L LONG VP 266961 0 66987 0 24138 0 31164 0 10379 0 399629 0 0 0 THOMAS J RUBACK COO 265518 0 66987 0 25100 0 42028 0 18527 0 418160 0 0 0 BARBARA J BOWKER VP 266961 0 66987 0 21768 0 31472 0 10351 0 397539 0 0 0 CATHERINE M TAMA-TROUTMAN VP 222340 0 39236 0 13191 0 39715 0 9413 0 323895 0 0 0 ANDREW J COY AVP 182900 0 22992 0 16111 0 24818 0 21514 0 268335 0 0 0 CAROL M NOBLIT VP OF FINANCE 221253 0 55811 0 11921 0 29816 0 9425 0 328226 0 0 0 SCOTT J DAVIS VP 197865 0 35763 0 11092 0 27360 0 22590 0 294670 0 0 0 JODI HARNER AVP 177852 0 22315 0 16274 0 23854 0 14951 0 255246 0 0 0 GEORGE RUDOLPH CEO 465518 0 15956 0 1976 0 97667 0 11373 0 592490 0 0 0 TAMMY HEIMBAUGH CAO 157486 0 15057 0 9395 0 20096 0 9368 0 211402 0 0 0 PART I, LINE 4(B) GEORGE W. RUDOLPH PARTICIPATED IN SUPPLEMENT NONQUALIFIED RETIREMENT PLANS FOR WHICH INCOME OF $68,990 WAS INCURRED IN 2019. GREGORY A. SMITH PARTICPATED IN SUPPLEMENT NONQUALIFIED RETIREMENT PLANS FOR WHICH INCOME OF $75,889 WAS INCURRED IN 2019. PART I, LINE 1 AND PART III, LINE 1 ORGANIZATION'S MISSION THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION ("PSECU") IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM, AT LEGITIMATE RATES OF INTEREST, FOR PROVIDENT PURPOSES. IN ACCOMPLISHING ITS PURPOSES, PSECU CONTINUALLY STRIVES TO MAINTAIN A PROGRESSIVE AND FINANCIALLY STABLE CREDIT UNION THAT GIVES PSECU MEMBERS CONTROL OVER THEIR FINANCES. PSECU ALSO PROVIDES MEMBERS WITH A VARIETY OF HIGH QUALITY TRADITIONAL AND INNOVATIVE FINANCIAL PRODUCTS AND SERVICES, WHICH ARE CONVENIENT, WITH SUPERIOR PRICING AND AVAILABLE THROUGH SELF-SERVICE DELIVERY CHANNELS. PART VI, QUESTION 6 ALL PSECU MEMBERS MAY EXERCISE THE RIGHT AS AN OWNER/MEMBER AND VOTE IN PSECU'S ANNUAL ELECTION OF THE BOARD OF DIRECTORS AND CREDIT COMMITTEE MEMBERS. PART VI, QUESTION 7A ALL PSECU MEMBERS MAY EXERCISE THE RIGHT AS AN OWNER/MEMBER AND VOTE IN PSECU'S ANNUAL ELECTION OF THE BOARD OF DIRECTORS AND CREDIT COMMITTEE MEMBERS. PART VI, QUESTION 7B PSECU IS A FEDERALLY INSURED, STATE CREDIT UNION, THE ACTIONS OF WHICH ARE SUBJECT TO BOTH STATE AND FEDERAL REGULATIONS. AS DETAILED IN TITLE 17 OF PA CONSOLIDATED STATUTES, ANY FUNDAMENTAL CORPORATE CHANGE IS SUBJECT TO MEMBERSHIP VOTE. PART VI, QUESTION 11B THE FORM 990 IS PREPARED BY MANAGEMENT AND REVIEWED BY A THIRD PARTY ACCOUNTING FIRM. EACH DIRECTOR RECEIVED A COPY OF THE FORM 990 WHICH IS REVIEWED AT A BOARD MEETING HELD PRIOR TO THE FILING OF THE FORM 990. PART VI, QUESTION 12C ALL SENIOR MANAGEMENT AND DIRECTORS OF PSECU ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE WHICH MUST BE UPDATED ON AN ANNUAL BASIS. IN ADDITION, THESE INDIVIDUALS ARE RESPONSIBLE FOR NOTIFYING PSECU'S INTERNAL AUDIT SERVICES OF POTENTIAL OR ACTUAL CONFLICTS OF INTEREST AS THEY OCCUR. PART VI, QUESTION 15 PSECU'S BOARD OF DIRECTORS OVERSEES THE PRACTICES AND DESIGN OF PSECU'S EXECUTIVE COMPENSATION PROGRAM. THIS PROCESS CONSIDERS, BUT IS NOT LIMITED TO, AN ANNUAL BENCHMARKING REVIEW, EVALUATION OF EXECUTIVE PERFORMANCE, AND ASSESSMENT OF INCENTIVE COMPENSATION TO ENSURE THAT IT DOES NOT ENCOURAGE EXCESSIVE OR UNNECESSARY RISK TAKING. THE KEY COMPONENTS OF OUR EXECUTIVE COMPENSATION CONSIST OF BASE SALARY AND CASH INCENTIVES. THE INCENTIVES ARE LARGELY SET AROUND KEY PERFORMANCE OBJECTIVES SUCH AS ENSURING THE EFFICIENCY OF OPERATIONS, GROWTH IN MEMBERS AND LOANS, FINANCIAL SOUNDNESS, AND OTHER QUALITATIVE MEASURES. PART VI, QUESTION 19 PSECU MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE ON THE COMPANY'S WEBSITE. PART XI, LINE 9 OTHER CHANGES IN NET ASSETS CONSIST OF ($2,044,819) OF PENSION AND POST-RETIREMENT BENEFIT ADJUSTMENTS.