2018-10-23T13:04:14-05:00 2017-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 381514946 SECURITY CREDIT UNION SECU 8102352322 5255 SECURITY PARK BLVD HOLLY MI 48442 CHRISTOPHER L BOWMAN VP ACCOUNTING 8102352322 2018-10-23 1 JACK TRACY CPA P01974742 2482443000 68.59.28.7 2018-10-23 06:49:17 ED P 5C10503600C6A44598C4573B9F16AA1A88D12859 EEF4FE8CDEF09A7814C765BD24A2772B28E60280 2017 2018-06-14 16:35:46Z CHRISTOPHER ESTES 5255 SECURITY PARK BLVD HOLLY MI 48442 32880148 0 X WWW.SECURITYCU.ORG X CREDIT UNION 1955 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 6 6 45 14 209946 -276583 0 0 18992167 20716133 2204477 1870291 0 0 21196644 22586424 0 0 0 0 7650390 8306800 0 0 0 12074599 13475138 19724989 21781938 1471655 804486 411269952 415381893 375210547 378298194 36059405 37083699 WE ARE OUR MEMBERS' TRUSTED, SECURE FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE. 0 0 PROVIDE 52,226 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, MONEY MARKET AND CERTIFICATE ACCOUNTS TOTALING 85,669. PROVIDE 28,306 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 1 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 5724 0 1 45 1 1 1 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 0 0 0 0 1 1 1 0 1 1 1 0 X SECURITY CREDIT UNION 8102352322 5255 SECURITY PARK BLVD HOLLY MI 48442 KENNITH SCOTT CHAIRPERSON 2.00 X 0 0 0 JOHN TRUCHAN VICE CHAIRPERSON 2.00 X 0 0 0 RICHARD HAZEL SECRETARY 2.00 X 0 0 0 GERALD DEMARIA TREASURER UNTIL 3/18 2.00 X 0 0 0 VIC CARPENTER DIRECTOR UNTIL 3/18 2.00 X 0 0 0 TOM CROOKS DIRECTOR UNTIL 3/18 2.00 X 0 0 0 RON DODGE DIRECTOR UNTIL 3/18 2.00 X 0 0 0 LAUREN EMMONS DIRECTOR UNTIL 3/18 2.00 X 0 0 0 WILDA FOY DIRECTOR UNTIL 3/18 2.00 X 0 0 0 DONALD HENRY DIRECTOR 2.00 X 0 0 0 JOSEPH NIEDZWIECKI DIRECTOR 2.00 X 0 0 0 DONALD SORENSEN DIRECTOR UNTIL 3/18 2.00 X 0 0 0 PHIL THICK TREASURER 3/18-CURRENT 2.00 X 0 0 0 JESSIE COLLINS DIRECTOR UNTIL 3/18 2.00 X 0 0 0 CHRISTOPHER ESTES PRESIDENT/CEO 40.00 X 657326 0 170856 CHRIS BOWMAN VP ACCOUNTING 40.00 X 109065 0 31577 CHAD MERRIHEW SVP/COO 40.00 X 142812 0 53031 JOSEPH REGAN VP IT 40.00 X 113255 0 30080 JAY YAX VP HR & COMPLIANCE 40.00 X 102299 0 30890 1124757 0 316434 5 0 1 0 SIWEK CONSTRUCTION 5020 PILGRIM ROAD FLINT MI 48507 CONSTRUCTION 6496419 FISERV 75 REMITTANCE DR SUITE 6956 CHICAGO IL 60675 MC DEBIT FEES 1367451 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 COMPUTERS/HARDWARE/SOFTWARE 1024380 NBS COMMERCIAL INTERIORS 56973 RELIABLE PARKWAY CHICAGO IL 60686 INTERIOR DESIGN 482239 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 HARDWARE/SOFTWARE 342408 21 LOAN INTEREST INCOME 522100 13715975 13715975 FEE AND OTHER INCOME 522100 6790212 6790212 NON-MEMBER INSURANCE INCOME 524298 112846 112846 NON-MEMBER ATM INCOME 900099 97100 97100 20716133 1716216 1716216 10447799 10293724 154075 154075 154075 22586424 22376478 209946 0 968824 5296129 233158 1302114 506575 41064 59400 53945 799071 3085288 522884 1052079 73964 83693 378919 1309692 204447 PROVISION FOR LOAN LOSS 3035825 LOAN SERVICING 2314522 OTHER OPERATING EXPENSE 348286 OPERATING FEE 90385 21674 21781938 9345923 8402264 13409923 17648044 1557739 640967 274718961 302785183 567120 678490 37079565 9431243 20407167 27648322 7518909 9398791 70814596 37438319 7987833 4360394 4941781 6381119 411269952 415381893 5184618 7041076 370025929 371257118 375210547 378298194 X 0 0 0 0 36059405 37083699 36059405 37083699 411269952 415381893 X 804486 204567 15241 X X 0 1 X 1 0 8392245 8392245 18083879 3421412 14662467 1779811 559382 1220429 8823630 5450449 3373181 27648322 AFS SECURITIES 36298492 F OTHER SECURITIES 1139827 C 37438319 MEMBERS SHARES AND DEPOSITS 371257118 371257118 X 22426774 0 22426774 159650 159650 22586424 21622288 -159650 -159650 21781938 0 21781938 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)14), FROM FEDERAL AND STATE INCOME TAXES. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON EQUITY INVESTMENT INCLUDED WITHIN EXPENSES IN AUDITED FINANCIAL STATEMENTS, BUT REPORTED IN STATEMENT OF REVENUE IN FORM 990 196,463. LOSS ON SALE OF OREO INCLUDED WITHIN EXPENSES IN AUDITED FINANCIAL STATEMENTS, BUT REPORTED IN STATEMENT OF REVENUE IN FORM 990 -36,813. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAIN ON EQUITY INVESTMENT INCLUDED WITHIN EXPENSES IN AUDITED FINANCIAL STATEMENTS, BUT REPORTED IN STATEMENT OF REVENUE IN FORM 990 -196,463. LOSS ON SALE OF OREO INCLUDED WITHIN EXPENSES IN AUDITED FINANCIAL STATEMENTS, BUT REPORTED IN STATEMENT OF REVENUE IN FORM 990 36,813. X 1 1 X X X 0 1 0 CHRISTOPHER ESTES PRESIDENT/CEO 289480 0 67846 0 300000 0 152334 0 18522 0 828182 0 300000 0 CHAD MERRIHEW SVP/COO 128184 0 14628 0 0 0 35506 0 17525 0 195843 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, 2017 OF $9,398,791. 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 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 CONFLICT 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: UNRECOGNIZED RETIREMENT COSTS 15,241. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.