2014-11-07T12:22:40-06:00 2013-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2013-01-01 951209332 UNIVERSITY & STATE EMPLOYEES CREDIT UNION UNIV 8587956100 10120 PACIFIC HEIGHTS BLVD NO 100 SAN DIEGO CA 92121 KENNETH KRAMER SVP/CFO 8587956100 2014-11-07 1 GERALD B KISSELL P00092658 6123324300 2013 2015-11-30 17:44:51Z USE CREDIT UNION JAMES HARRIS 10120 PACIFIC HEIGHTS BLVD NO 100 SAN DIEGO CA 92121 149723709 0 X WWW.USECU.ORG X 1936 CA TO LEAD IN SERVICE, QUALITY AND MEMBER-VALUE AS YOUR TRUSTED FINANCIAL PARTNER. 11 11 185 14 370622 -474693 0 0 28256317 28395018 6800779 5643935 449338 508983 35506434 34547936 0 0 2206917 1997829 10879492 11610830 0 0 0 15154767 12951146 28241176 26559805 7265258 7988131 751168013 759551808 687050711 693563107 64117302 65988701 X TO PROVIDE FINANCIAL SERVICES TO ALL WHO ARE ELIGIBLE FOR UNIVERSITY & STATE EMPLOYEES (USE) CREDIT UNION MEMBERSHIP. 0 0 MEMBERSHIP IN USE CREDIT UNION PROVIDES ACCESS TO A ROBUST ARRAY OF QUALITY FINANCIAL SERVICES AND PRODUCTS INCLUDING CHECKING AND SAVINGS ACCOUNTS. UNLIKE BANKS, WHICH RETURN THEIR PROFITS TO SHAREHOLDERS, USE CREDIT UNION RETURNS ITS PROFITS TO MEMBERS IN THE FORM OF HIGHER RATES ON DEPOSITS AND A HOST OF FREE AND LOW-COST SERVICES. AS OF DECEMBER 31, 2013, USE CREDIT UNION MEMBERS HELD 101,436 DEPOSIT ACCOUNTS TOTALING OVER $687 MILLION. THESE ACCOUNTS INCLUDED FREE CHECKING, LOW-BALANCE SAVINGS, IRA'S, AND HIGH-YIELD MONEY MARKET AND TERM INVESTMENT ACCOUNTS. AS A MEMBER-OWNED, NOT-FOR-PROFIT COOPERATIVE, USE CREDIT UNION IS DEDICATED TO PROVIDING THE FINANCIAL PRODUCTS AND SERVICES MEMBERS NEED AT EVERY STAGE OF LIFE. WHETHER IT'S BUYING A FIRST CAR, FINANCING A NEW HOME, OR SEEKING A HIGHER EDUCATION, USE CREDIT UNION OFFERS MEMBERS LOW-COST HOME, VEHICLE, AND PERSONAL LOANS, AS WELL AS FREE FINANCIAL SEMINARS TO ASSIST THEM IN MAKING SOUND FINANCIAL CHOICES. AS OF DECEMBER 31, 2013, USE CREDIT UNION MEMBERS HELD 37,649 MORTGAGE, HOME EQUITY, VEHICLE, CREDIT CARD, AND VARIOUS OTHER PERSONAL LOANS TOTALING OVER $454 MILLION. SINCE 1936, USE CREDIT UNION HAS BEEN HELPING PEOPLE ACHIEVE THEIR MOST IMPORTANT FINANCIAL GOALS. AS ONE OF CALIFORNIA'S LARGEST CREDIT UNIONS, USE OFFERS FULL-SERVICE BANKING, INCLUDING FREE AND LOW-COST E-SERVICES. MEMBERS CAN MANAGE THEIR PERSONAL FINANCES ANYTIME, ANYWHERE WITH TELEPHONE, ONLINE, AND WIRELESS INTERNET BANKING. AS AN ADDITIONAL CONVENIENCE, USE OFFERS BILLPAY SERVICES TO MEMBERS WITH QUALIFYING CHECKING ACCOUNTS AT NO COST. APPROXIMATELY 6,900 MEMBERS UTILIZE THIS SERVICE EACH MONTH. IN ADDITION, USE CREDIT UNION HAS PARTNERED WITH OTHER CREDIT UNIONS TO FORM THE CO-OP ATM NETWORK. THIS NETWORK PROVIDES MEMBERS ACCESS TO APPROXIMATELY 30,000 NO-FEE ATM'S THROUGHOUT THE UNITED STATES AND CANADA, INCLUDING LOCATIONS AT POPULAR RETAILERS. ADDITIONAL USE CREDIT UNION MEMBERSHIP BENEFITS INCLUDE: 1) PROFESSIONAL BROKERAGE AND INVESTMENT SERVICES; 2) PROFESSIONAL TAX PREPARATION SERVICES; 3) MONEY-SAVING AUTO, HOME, HEALTH, AND LIFE INSURANCE PROGRAMS; 4) FREE FINANCIAL EDUCATION SEMINARS; 5) MERCHANT, RECREATION, AND TRAVEL DISCOUNTS. 0 0 1 0 0 0 0 1 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 16012 0 1 185 1 1 1 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CA X LISA CHAN VPFINANCE 8587956111 10120 PACIFIC HEIGHTS BLVD NO 100 SAN DIEGO CA 92121 MATT ADAMS CHAIR 3.00 X X 0 0 0 LORI TROFEMUK VICE CHAIR 3.00 X X 0 0 0 JOHN RICHARD CHANTENGCO DIRECTOR 3.00 X 0 0 0 TONY CHERIN DIRECTOR 3.00 X 0 0 0 DAVID ELY DIRECTOR 3.00 X 0 0 0 JOSHUA LAWRENCE DIRECTOR 3.00 X 0 0 0 YVONNE L MARSH DIRECTOR 3.00 X 0 0 0 ARUN SEN DIRECTOR 3.00 X 0 0 0 STEVE ST MARIE DIRECTOR 3.00 X 0 0 0 JOHN STEVENSON DIRECTOR 3.00 X 0 0 0 IOLA HARRIS-BAKER DIRECTOR (RETIRED 7/15/13) 3.00 X 0 0 0 JAMES HARRIS PRESIDENT/CEO 40.00 X 431621 0 28306 KENNETH KRAMER SVP/CHIEF FINANCIAL OFFICER 40.00 X 268949 0 34856 GARY AHLGREN EVP/ORGANIZATIONAL IMPROVEMENT 40.00 X 322629 0 29938 STEPHEN EWERS CIO 40.00 X 180827 0 18050 NICOLE ANDERSON VP MARKETING 40.00 X 164043 0 7298 KAREN SMITH VP LENDING 40.00 X 156770 0 17086 SHELLY DUCKART SENIOR MORTGAGE SPECIALIST 40.00 X 157977 0 11714 KATHLEEN DALLAS-ORR SENIOR MORTGAGE SPECIALIST 40.00 X 155863 0 13223 ADELE SANDBERG VP CONTROLLER 40.00 X 144632 0 22353 1983311 0 182824 14 0 1 0 INTUIT FINANCIAL SERVICES 21215 BURBANK BLVD SUITE 100 WOODLAND HILLS CA 91367 ONLINE BANKING / WEB-SITE HOSTING SERVIC 727740 ADVANCED NETWORK INC 8940 ACTIVITY ROAD SUITE F SAN DIEGO CA 92126 ATM SERVICES 360438 FISERV 405 SCIENCE DRIVE MOORPARK CA 93021 SOFTWARE PROVIDER 274238 BUSINESS DATA INC 321 N OAK STREET INGLEWOOD CA 90302 STATEMENT PROCESSOR 225792 ENFORCEMENT SUPPORT SERVICES INC 10120 PACIFIC HEIGHTS BLVD SUITE SAN DIEGO CA 92121 SECURITY GUARDS 195151 10 LOAN INTEREST INCOME 522100 21067505 21067505 SERVICE CHARGES AND FEE INCOME 522100 4464662 4094040 370622 INTERCHANGE INCOME 522100 2862851 2862851 28395018 3947566 3947566 1320350 811367 508983 508983 508983 18978510 97082265 18916821 95447585 61689 1634680 1696369 1696369 34547936 28024396 370622 6152918 1997829 1315176 8409873 219736 901184 764861 67409 182267 918767 332819 1251820 2335497 1260472 85183 90255 156926 1120739 184686 LOAN PROGRAM/SERVICING 1616006 ATM EXPENSES 1538053 CREDIT CARD PROGRAM COS 607854 NCUSIF DEPOSIT INSURANC 533300 669093 26559805 58831368 55339366 418281642 444520423 43304959 17388662 26176473 25916297 189817895 182086899 58060635 51688823 751168013 759551808 2725246 2215015 3000000 3000000 681325465 688348092 687050711 693563107 X 0 0 0 0 64117302 65988701 64117302 65988701 751168013 759551808 7988131 -6116732 0 X 0 1 X 1 0 6000 6000 6000 1 CALIFORNIA CREDIT UNION LEAGUE PAC 1201 K STREET SUITE 1050 SACRAMENTO CA 95814 942329967 6000 PART I-A, LINE 1: USE'S POLITICAL CAMPAIGN ACTIVITIES ARE PRIMARILY CENTERED AROUND SPECIFIC LEGISLATIVE BILLS OF SPECIFIC INTEREST TO USE AND/OR THE CREDIT UNION INDUSTRY. WE PARTICIPATE WITH THE CALIFORNIA/NEVADA CREDIT UNION LEAGUE AND CUNA BY SENDING LETTERS OF SUPPORT OR OPPOSITION TO PROPOSED LEGISLATION. WE ALSO, ON AN INDIVIDUAL BASIS, ATTEND FUNDRAISERS TO SUPPORT CREDIT UNION FRIENDLY LEGISLATORS. FINANCIAL CONTRIBUTIONS ARE MADE BY EITHER PERSONAL FUNDS OR THROUGH PAC CONTRIBUTIONS. 0 1 X 8310057 8310057 15872356 2760712 13111644 4803623 2405666 2397957 14318923 12222284 2096639 25916297 FEDERAL HOME LOAN BANK STOCK 4023300 F AVAILABLE FOR SALE SECURITIES 178063599 F 182086899 ACCRUED INTEREST RECEIVABLE 3281353 NCUA SHARE INSURANCE DEPOSITS 6666247 OTHER ASSETS 29842497 INSURANCE CONTRACTS 10114385 LOANS HELD FOR SALE 1784341 51688823 MEMBER SHARES 686852831 OTHER LIABILITIES 1495261 688348092 X PART IV, LINE 2B: THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR MORTGAGE LOANS HELD BY MEMBERS. THE CREDIT UNION ALSO HOLDS CUSTODIAL ACCOUNTS TO FACILITATE THE SERVICING OF LOANS SOLD TO ENTITIES SUCH AS FANNIE MAE. AT 12/31/2013 THE ESCROW BALANCE WAS $366,954 AND THE VALUE OF ASSETS FOR WHICH THE CREDIT UNION SERVES AS CUSTODIAN WAS $1,848,061. PART X, LINE 2: FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012, MANAGEMENT DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X 1 1 X X X X 0 0 0 JAMES HARRIS PRESIDENT/CEO 368408 0 55584 0 7629 0 9563 0 18743 0 459927 0 0 0 KENNETH KRAMER SVP/CHIEF FINANCIAL OFFICER 226600 0 36080 0 6269 0 9712 0 25144 0 303805 0 0 0 GARY AHLGREN EVP/ORGANIZATIONAL IMPROVEMENT 268375 0 47985 0 6269 0 9563 0 20375 0 352567 0 0 0 STEPHEN EWERS CIO 146282 0 0 0 34545 0 1288 0 16762 0 198877 0 0 0 NICOLE ANDERSON VP MARKETING 160614 0 3364 0 65 0 0 0 7298 0 171341 0 0 0 KAREN SMITH VP LENDING 151206 0 5420 0 144 0 6110 0 10976 0 173856 0 0 0 SHELLY DUCKART SENIOR MORTGAGE SPECIALIST 64852 0 93024 0 101 0 5971 0 5743 0 169691 0 0 0 KATHLEEN DALLAS-ORR SENIOR MORTGAGE SPECIALIST 53622 0 102144 0 97 0 5894 0 7329 0 169086 0 0 0 ADELE SANDBERG VP CONTROLLER 138266 0 6272 0 94 0 5874 0 16479 0 166985 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - THE CREDIT UNION WILL PAY FOR ONE IMMEDIATE FAMILY MEMBER OR DOMESTIC PARTNER TO ACCOMPANY A VOLUNTEER TO A CONFERENCE OR SEMINAR, WITHIN SPECIFIED LIMITATIONS (E.G. ANNUAL BUDGET ALLOCATIONS, SHARING VOLUNTEER'S HOTEL ROOM). THE CREDIT UNION WILL ISSUE TO THE VOLUNTEER AN IRS 1099 WHEN EXPENSES EXCEED $600 FOR WHICH NO BONA FIDE BUSINESS PURPOSE EXISTS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS OR EXCESS DUES IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE CREDIT UNION'S CEO AND CFO PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, SUPERVISORY COMMITTEE MEMBERS, AND MANAGEMENT SIGN ANNUAL CONFLICT OF INTEREST STATEMENTS. EMPLOYEES ARE REQUIRED TO SIGN AN ACKNOWLEDGMENT AND AGREEMENT STATEMENT WHEN PROVIDED WITH A COPY OF THE CREDIT UNION'S EMPLOYEE HANDBOOK AT THE TIME OF HIRE. THIS COMPREHENSIVE MANUAL INCLUDES SPECIFIC GUIDANCE REGARDING APPROPRIATE BUSINESS ACTIVITIES AND CONDUCT. IN ADDITION, MANAGERS AT ALL LEVELS MEET WITH THEIR DIRECT REPORTS ON A REGULAR BASIS. THESE MEETINGS PROVIDE AN ONGOING FORUM TO REAFFIRM THE POLICIES OF THE CREDIT UNION AND ADDRESS ANY AREAS OF CONCERN. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION UTILIZES COMPEASE, A SOFTWARE APPLICATION LINKED TO CURRENT SALARY SURVEY DATA, TO ESTABLISH COMPENSATION LEVELS FOR EACH CREDIT UNION POSITION. COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS BASED UPON COMPEASE EVALUATIONS, A CANDIDATE'S SALARY HISTORY, AND THE SALARY JUDGED NECESSARY TO ATTRACT QUALIFIED CANDIDATES BASED UPON THEIR SKILLS AND EXPERIENCE. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE PROVIDED TO THE MEMBERSHIP AT EACH ANNUAL MEETING. UNAUDITED FINANCIAL STATEMENTS ARE POSTED MONTHLY AT EACH BRANCH LOCATION FOR PUBLIC VIEWING. USE AFFILIATED SERVICES CORPORATION 10120 PACIFIC HEIGHTS BLVD SUITE 10 SAN DIEGO CA 92121 330309047 INSURANCE SERVICES CA UNIVERSITY & STATE EMPLOYEES CREDIT UNION C 277 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 USE AFFILIATED SERVICES CORPORATION S 58475 ACTUAL AMOUNT