2019-04-22T15:39:36-05:00 2018-12-31 383567911 REHMANN ROBSON LLC 224 E LARKIN ST STE 100 MIDLAND MI 48640 990 2018-01-01 381514946 SECURITY CREDIT UNION SECU 8102352322 5255 SECURITY PARK BLVD HOLLY MI 48442 CHRISTOPHER L BOWMAN VP OF ACCOUNTING 8102352322 2019-04-19 1 JEFFREY E HERT CPA P00066715 9896313131 2019-04-19 66.188.13.38 2019-04-19 13:58:39 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6B63B5289454C84CED47E59C1F0FDA2150384606 2018 2019-02-21 02:37:17Z CHRISTOPHER ESTES 5255 SECURITY PARK BLVD HOLLY MI 48442 29582461 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. 6 6 226 6 201826 0 0 0 20716133 22052952 1870291 1535444 0 0 22586424 23588396 0 0 0 0 8306800 8178476 0 0 0 13475138 14174278 21781938 22352754 804486 1235642 415381893 420236602 378298194 383170975 37083699 37065627 WE ARE OUR MEMBERS' TRUSTED, SECURED FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE. 0 0 PROVIDE 54,783 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, MONEY MARKET AND CERTIFICATE ACCOUNTS TOTALING 86,739. PROVIDE 29,922 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 0 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 3744 0 1 226 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 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 KENNITH SCOTT CHAIRPERSON 2.00 X X 0 0 0 JOHN TRUCHAN VICE CHAIRPERSON 2.00 X X 0 0 0 RICHARD HAZEL SECRETARY 2.00 X X 0 0 0 DONALD HENRY DIRECTOR 2.00 X 0 0 0 JOSEPH NIEDZWIECKI DIRECTOR 2.00 X 0 0 0 PHIL THICK TREASURER 2.00 X X 0 0 0 CHRISTOPHER ESTES PRESIDENT AND CEO 40.00 X 364111 0 117460 CHAD MERRIHEW COO 40.00 X 135687 0 51503 CHRIS BOWMAN VP OF ACCOUNTING 40.00 X 114827 0 33007 JOSEPH REGAN VP OF IT 40.00 X 114363 0 33453 JAY YAX VP OF HR & COMPLIANCE 40.00 X 111753 0 52805 840741 0 288228 5 0 1 0 FISERV 75 REMITTANCE DRIVE STE 1649 CHICAGO IL 60675 ELECTRONIC PROCESSING SERVICES 1243844 JACK HENRY PO BOX 609 MONETT MO 65708 ELECTRONIC PROCESSING SERVICES 428718 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM PROCESSING AND MAINTENANCE SERVICES 318857 US SIGNAL CO LLC 201 IONIA AVE SW GRAND RAPIDS MI 49503 TELECOMMUNICATION SERVICES 284647 IDSCOM 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 STATEMENT PRODUCTION 271917 19 LOAN INTEREST INCOME 522100 14310786 14310786 FEE AND OTHER INCOME 522100 7540340 7540340 NON-MEMBER INSURANCE INCOME 524298 124654 124654 NON-MEMBER ATM INCOME 900099 77172 77172 22052952 1477290 1477290 5920346 131873 5880373 113692 39973 18181 58154 58154 23588396 21851126 201826 1535444 1128969 5201593 243300 1116816 487798 37747 59066 74760 543239 3909329 552048 1233155 116249 42539 525094 1612357 287731 PROVISION FOR LOAN LOSS 2932954 LOAN SERVICING 1422428 OTHER OPERATING EXPENSE 734578 OPERATING FEE 91004 22352754 8402264 13450101 17648044 4982385 640967 294376 302785183 330544533 678490 834367 38008228 11136974 27648322 26871254 9398791 7996859 37438319 18620304 4360394 4568588 6381119 12073835 415381893 420236602 7041076 7485639 371257118 375685336 378298194 383170975 X 0 0 0 0 37083699 37065627 37083699 37065627 415381893 420236602 X 1235642 -1322970 69256 X X 0 1 X 1 0 8394195 8394195 18102011 3917468 14184543 2209376 852240 1357136 9055826 6367266 2688560 246820 246820 26871254 MEMBERS SHARES AND DEPOSITS 375685336 375685336 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 307236 0 56875 0 0 0 98260 0 19200 0 481571 0 0 0 CHAD MERRIHEW COO 133687 0 2000 0 0 0 36675 0 14828 0 187190 0 0 0 JAY YAX VP OF HR & COMPLIANCE 109253 0 2500 0 0 0 33605 0 19200 0 164558 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, 2018 OF $9,101,051 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 69,256. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEARS.