2016-10-19T08:27:45-07:00 2015-12-31 382336859 Cindrich Mahalak & Co 31215 Jefferson Ave St Clair Shores MI 48082 990 2015-01-01 381514946 Security Credit Union SECU 8102352322 3801 West Boulevard Drive Flint MI 48505 Christopher L Bowman VP Accounting 8102352322 2016-10-19 1 Denise Luckenbacher P01546100 5862961155 2016-10-19 2015 2017-02-10 21:41:12Z Christopher Estes 3801 West Boulevard Drive Flint MI 48505 19703159 0 X www.securitycu.org X Credit Union 1955 MI To provide financial services to member owners with a common bond. 14 14 149 14 238873 -234878 0 0 13603388 16841947 2229386 2443305 2551663 0 18384437 19285252 0 0 0 0 6787378 6926404 0 0 0 10042714 10297566 16830092 17223970 1554345 2061282 382709524 406245681 349432077 370909335 33277447 35336346 We are our Members' trusted, secure financial cooperative dedicated to providing exceptional value, personalized service, and convenience. 0 0 Provide 48,534 members with Regular Shares, Share Drafts, Money Market, and Certificate accounts totaling 86,210. Provide 24,115 loans, including Vehicle, Business, First Mortgage, Home Equity, Line of Credit, and Unsecured loans. Offer Automated Teller Machines, Wire Transfers, Money Orders and various insurance programs. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 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 6317 0 1 149 1 1 1 0 0 0 0 0 X 14 14 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 0 1 1 1 0 X Security Credit Union 8102352322 3801 West Boulevard Drive Flint MI 48505 Kennith Scott Chairperson 2 X 0 0 0 John Truchan Vice Chairperson 2 X 0 0 0 Richard Hazel Secretary 2 X 0 0 0 Gerald DeMaria Treasurer 2.00 X 0 0 0 Vic Carpenter Director 2 X 0 0 0 Tom Crooks Director 2 X 0 0 0 Ron Dodge Director 2 X 0 0 0 Lauren Emmons Director 2 X 0 0 0 Wilda Foy Director 2 X 0 0 0 Donald Henry Director 2 X 0 0 0 Joseph Niedzwiecki Director 2 X 0 0 0 Donald Sorensen Director 2 X 0 0 0 Phil Thick Director 2 X 0 0 0 Jessie Collins Director 2 X 0 0 0 Christopher Estes President/CEO 40 X 318532 0 170118 Chris Bowman VP Accounting 40 X 97079 0 30843 Chad Merrihew SVP/COO 40 X 124674 0 32751 540285 0 233712 2 0 1 0 Fiserv 75 Remittance Dr Suite 6956 Chicago IL 60675 Computer Software/Card Processing 1239847 HealthPlus 6643 Solutions Center Chicago IL 60677 Employee Health Insurance 958962 Siwek Construction 5020 Pilgrim Road Flint MI 48507 Construction 484610 Diebold PO Box 644399 Pittsburgh PA 15264 Banking Equipment Service/Repair 435889 CDW Direct PO Box 75723d Chicago IL 60675 Computers/Hardware/Software 296894 11 0 Loan Interest 522100 10337464 10337464 0 0 Other Income 522100 6454162 6215289 238873 0 Sale of Mortgages 522100 50321 50321 0 0 0 0 0 0 16841947 2443425 2443425 0 0 0 0 0 0 0 0 0 0 0 0 0 417787 0 417907 0 -120 -120 -120 0 0 0 19285252 19046379 238873 0 773997 4445751 163243 1103637 439776 54679 55715 388246 619134 3207422 634887 1417563 54415 70654 388411 746086 184901 Loan Servicing 1268885 Provision for Loan Loss 772478 Other Operating Expense 317661 Operating Fee 85465 30964 17223970 0 0 0 21052277 14417129 6837200 14876900 140704 103763 182343602 215920407 773316 546580 26134992 9531796 14896357 16603196 150968966 7005037 600000 129953816 1863660 5097102 4955193 382709524 406245681 3621890 4817055 345810187 366092280 349432077 370909335 X 0 0 0 0 33277447 35336346 33277447 35336346 382709524 406245681 X 2061282 -637930 0 0 0 635547 X 0 1 X 1 0 0 5985738 5985738 0 12663488 4173048 8490440 0 1206349 749012 457337 0 6279417 4609736 1669681 0 0 0 0 16603196 HTM Securities 58378991 C AFS Securities 70670140 F Other Securities 904685 C 129953816 Member Shares 366092280 366092280 X 1 1 X X X 0 1 0 Christopher Estes President/CEO 257692 0 60840 0 0 0 150894 0 19224 0 488650 0 0 0 Chad Merrihew SVP/COO 111549 0 13125 0 0 0 13527 0 19224 0 157425 0 0 0 Schedule J, Part I, Line 1a Each Board and Committee Member is entitled to have their spouse accompany them to the conference. Schedule J, Part I, Line 4 Christopher Estes, President/CEO participated in a 457(f) non-qualified plan with certain other individuals that has a balance on December 31, 2015 of $7,005,037. 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 Acquired Equity-459,193; Unrecognized Retirement Costs-176,354 Additional time was needed in order to gather all the information that is required to complete an accurate return. An automatic extension was filed to extend the due date to 8/15/16. A second extension was filed to extend the due date to 11/15/16.