2017-11-03T08:30:18-05:00 2016-12-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2016-01-01 230961140 PENNSYLVANIA STATE EMPLOYEES CREDIT UNION % HEATHER RIVAS PENN 8002377328 1500 ELMERTON AVENUE HARRISBURG PA 17110 CAROL NOBLIT VP, FINANCE 2673303000 2017-11-02 true ERIC M MCNEIL P00460263 2673303000 2017-11-01 155.201.188.33 23522320173075000000 2017-11-03 P A49214B0A51C627D1FB9934A4683F9A66E95C521 A49214B0A51C627D1FB9934A4683F9A66E95C521 2016 2018-03-14 21:41:22Z GREGORY A SMITH 1500 ELMERTON AVENUE HARRISBURG PA 17110 217335413 false X WWW.PSECU.COM X 1933 PA SEE SCHEDULE O 9 9 976 0 1353466 -493956 0 0 189690150 199016770 5484860 7475627 8956411 10805165 204131421 217297562 200561 244245 0 0 50592863 53915071 0 0 0 117097966 117170317 167891390 171329633 36240031 45967929 4487443050 4811123282 4017815811 4296495022 469627239 514628260 X SEE SCHEDULE O false false 0 0 0 As of December 31, 2016, the Pennsylvania State Employees Credit Union had 426,084 members to whom it provides deposit and loan services. There were 291,261 loans with balances of $3,590,871,156 outstanding at December 31, 2016. Share deposits were $4,260,656,397. PSECU strives to provide its members with high quality, convenient financial products and services with superior pricing. 0 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 490 0 true 976 true true true 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 R BRIAN WILBUR DIRECTOR 8.0 0.0 X 12997 0 0 GEORGE J WEST DIRECTOR 8.0 0.0 X 11915 0 0 FRANK J BREINER DIRECTOR 8.0 0.0 X 12276 0 0 KATHLEEN A SALMON DIRECTOR 8.0 0.0 X 11750 0 0 JOSEPH A LAWRUK DIRECTOR 9.0 0.0 X 18160 0 0 JOSEPH SASSANO DIRECTOR 9.0 0.0 X 17943 0 0 JODI LYNNE BLANCH DIRECTOR 9.0 0.0 X 14753 0 0 TIMOTHY D GRUNSTRA DIRECTOR 8.0 0.0 X 11948 0 0 MICHAEL C FERSTER DIRECTOR 9.0 0.0 X 16941 0 0 GREGORY A SMITH CEO 37.5 0.0 X 962338 0 204746 WILLIAM C ZYSK CCO 37.5 0.0 X 299775 0 59494 THOMAS J RUBACK COO 37.5 0.0 X 281498 0 58338 CAROL M NOBLIT VP OF FINANCE 37.5 0.0 X 214887 0 31797 RICHARD L LONG VP 37.5 0.0 X 291139 0 35906 BARBARA J BOWKER VP 37.5 0.0 X 276511 0 46136 FREDERICK F COFFROTH VP 37.5 0.0 X 230190 0 53814 CATHERINE M TAMA-TROUTMAN VP 37.5 0.0 X 232891 0 42356 KIMBERLEY M FRANK VP 37.5 0.0 X 228824 0 52109 ANDREW J COY AVP 37.5 0.0 X 194033 0 43216 SCOTT J DAVIS AVP 37.5 0.0 X 178694 0 39487 3519463 0 667399 42 false true false WELTMAN WEINBERG REIS CO LPA 323 LAKESIDE AVE SUITE 200 CLEVELAND OH 44111 LEGAL SERVICES 412933 ALLIED UNIVERSAL 161 WASHINGTON ST SUITE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 375126 MCNEES WALLACE NURICK PO BOX 1166 HARRISBURG PA 17108 LEGAL SERVICES 337069 DOCUMATIX LLC 13937 SOUTH SPRAGUE LANE SUITE 225 DRAPER UT 84020 ELECTRONIC COMMUN. 318628 RSA SECURITY LLC 174 MIDDLESEX TURNPIKE BEDFORD MA 01730 ELECTRONIC SEC. SOL. 215346 15 0 INTEREST ON LOANS TO MEMBERS 522291 167254878 167254878 0 0 INTERCHANGE FEES 522100 24945150 24945150 0 0 ATM FEES 522200 4511982 3271684 1240298 0 CHECKING ACCOUNTS 522100 2304760 2304760 0 0 199016770 7475627 7475627 0 0 149273 37851 111422 0 111422 111422 0 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 10693743 10580575 113168 0 10693743 217297562 208357047 1353466 7587049 244245 0 0 0 4167979 0 35413880 0 0 0 3766694 0 0 0 7351698 0 0 0 3214820 0 0 0 0 338120 0 273085 0 0 0 2937087 7806783 9608587 4459936 0 5784619 883048 0 0 16525411 0 7403458 892557 PROVISION FOR LOAN LOSSES 18861773 RELATIONSHIP REWARD 10020275 ATM EXPENSE 12629277 CHECK CARD PROGRAM EXPENSE 7776879 10969422 171329633 0 0 0 613113723 721611421 93053987 98170188 0 0 0 0 0 0 0 0 3304051097 3541291986 0 0 0 0 113479332 34087780 84082619 79391552 303605047 286035085 11766100 11030968 0 0 0 0 77770477 73592082 4487443050 4811123282 32819773 31842881 0 0 0 0 0 0 6192859 7657481 0 0 0 0 0 0 3978803179 4256994660 4017815811 4296495022 X 0 0 692793 692797 468934446 513935463 469627239 514628260 4487443050 4811123282 X 45967929 -269480 -697428 X false true X true false false true X 4442176 4442176 72133682 6722900 65410782 1747291 1002568 744723 25639939 18881252 6758687 9516244 7481060 2035184 79391552 0 MEMBERS' SHARES 4252998917 OTHER LIABILITIES 3995743 4256994660 217297562 217297562 217297562 171329633 171329633 171329633 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) 53895 GENERAL DONATION CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84117 870387205 501(c)(3) 20250 GENERAL DONATION LEADERSHIP HARRISBURG AREA 3211 N FRONT ST HARRISBURG PA 17110 251583596 501(C)(3) 8500 GENERAL DONATION HARRISBURG DOWNTOWN IMPROVEMENT DISTRICT 22 N 2ND ST HARRISBURG PA 17101 300272951 501(C)(3) 7500 COMMUNITY EVENTS PA CREDIT UNION FOUNDATION 4309 N FRONT ST HARRISBURG PA 17110 251786339 501(c)(3) 16100 GENERAL DONATION CENTRAL PA FOOD BANK 3908 COREY RD HARRISBURG PA 17109 232202250 501(C)(3) 15875 GENERAL DONATION WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 396093210 501(c)(3) 10000 GENERAL DONATION Junior Achievement 610 S George St York PA 17403 231598129 501(c)(3) 17000 General Donation YWCA OF HARRISBURG 1101 MARKET ST HARRISBURG PA 17103 231370514 501(C)(3) 8700 GENERAL DONATION CULTURAL ENRICHMENT FUND PO BOX 12084 HARRISBURG PA 17108 232327546 501(c)(3) 12500 GENERAL DONATION NEW BIRTH OF FREEDOM BOY SCOUTS 1 BALDEN POWELL Ln MECHANICSBURG PA 17050 231365194 501(C)(3) 18000 GENERAL DONATION 11 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 600851 0 264148 0 97339 0 185185 0 19561 0 1167084 0 0 0 WILLIAM C ZYSK CCO 241423 0 45172 0 13180 0 39871 0 19623 0 359269 0 0 0 RICHARD L LONG VP 246349 0 33204 0 11586 0 31161 0 3644 0 325944 0 0 0 THOMAS J RUBACK COO 240114 0 27374 0 14010 0 41278 0 17060 0 339836 0 0 0 BARBARA J BOWKER VP 236693 0 27374 0 12444 0 30687 0 15449 0 322647 0 0 0 FREDERICK F COFFROTH VP 199625 0 18335 0 12230 0 32820 0 20994 0 284004 0 0 0 CATHERINE M TAMA-TROUTMAN VP 203427 0 18335 0 11129 0 33685 0 8671 0 275247 0 0 0 KIMBERLEY M FRANK VP 199688 0 18335 0 10801 0 34284 0 17825 0 280933 0 0 0 ANDREW J COY AVP 157513 0 28374 0 8146 0 21892 0 21324 0 237249 0 0 0 CAROL M NOBLIT VP OF FINANCE 184581 0 27374 0 2932 0 23203 0 8594 0 246684 0 0 0 SCOTT J DAVIS AVP 157913 0 12486 0 8295 0 19943 0 19544 0 218181 0 0 0 PART I, LINE 4(B) GREGORY A. SMITH PARTICIPATED IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS FOR WHICH EXPENSE OF $130,129 WAS INCURRED IN 2016. PART I, LINE 1 AND PART III, LINE 1 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 chartered 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 RECEIVES 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 TO THE PUBLIC ON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMPANY'S WEBSITE. PART XI, LINE 9 PENSION & POST-RETIREMENT ADJUSTMENTS $ (697,428) ------------ TOTAL (697,428)