2014-11-14T14:51:37-06:00 2013-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2013-01-01 520627114 STATE EMPLOYEES CREDIT UNION OF MARYLAND INC STAT 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 STEVEN ARBAUGH CFO 4104877328 2014-11-13 1 GERALD B KISSELL P00092658 6123324300 2013 2015-11-30 17:44:51Z STEVEN ARBAUGH 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 609994173 0 X WWW.SECUMD.ORG X 1951 MD TO CONTINUE TO SERVE MARYLANDERS WITH FINANCIAL PRODUCTS, SERVICES AND CUTTING EDGE TECHNOLOGY AND TO SUPPORT EXISTING COMMUNITY PARTNERSHIPS AND FORM NEW PARTNERSHIPS IN THE COMMUNITIES WE SERVE. 9 9 699 71 814716 44144 0 0 118216062 123300275 15973556 8606387 289926 230814 134479544 132137476 40000 33000 17651060 15816359 34166833 34360542 0 0 0 56934143 61737248 108792036 111947149 25687508 20190327 2566962629 2687185704 2313189432 2424724962 253773197 262460742 X TO MAKE A POSITIVE CONTRIBUTION TO THE FINANCIAL WELL-BEING OF THOSE WE SERVE. STATE EMPLOYEES CREDIT UNION OF MARYLAND, INC. (SECU) MUST BE KNOWN, VALUED, AND UTILIZED. 0 0 SECU PROVIDES DEPOSIT PRODUCTS AND SERVICES TO MEMBERS. THESE DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT AND INDIVIDUAL RETIREMENT ACCOUNTS. AS OF DECEMBER 31, 2013, SECU HAD 492,465 DEPOSIT ACCOUNTS OUTSTANDING. SECU'S DEPOSIT RATES CONTINUE TO BE SOME OF THE MOST COMPETITIVE RATES OFFERED BY FEDERALLY INSURED FINANCIAL INSTITUTIONS. SECU PROVIDES MORTGAGE AND CONSUMER LOANS TO MEMBERS AT COMPLETIVE RATES. THESE LOANS INCLUDE 1ST AND 2ND MORTGAGES, HOME EQUITY LINES OF CREDIT, CREDIT CARD, UNSECURED LINES OF CREDIT, NEW AND USED AUTO LOANS, STUDENT LOANS AND BUSINESS LOANS. AS OF DECEMBER 31, 2013, SECU HAD 109,257 LOANS OUTSTANDING TO MEMBERS TOTALING $1.981 BILLION. IN 2013 SECU PROVIDED ADULT AND YOUTH FINANCIAL EDUCATION SERVICES SUCH AS WORKING WITH SCHOOLS AND SELECT EMPLOYER GROUPS. SECU OFFERS ONLINE AND MOBILE BANKING SERVICES TO MEMBERS IN ADDITION TO 22 BRANCHES AND 106 AUTOMATED TELLER MACHINES THROUGHOUT THE STATE. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 153483 0 1 699 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X STEVEN ARBAUGH 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 JOHN KENNEY CHAIR 1.00 X X 27951 0 0 DONALD TYNES VICE CHAIR 1.00 X X 24140 0 0 JANET BACON SECRETARY 1.00 X X 20929 0 0 ELLEN GARDNER TREASURER 1.00 X X 24273 0 0 GAYLE SEWARD DIRECTOR 1.00 X 22102 0 0 TIMOTHY LAVALLE DIRECTOR 1.00 X 18669 0 0 MARK REGER DIRECTOR 1.00 X 16723 0 0 SHARONNE BONARDI DIRECTOR 1.00 X 19087 0 0 JUANCHO BIANO DIRECTOR 1.00 X 16150 0 0 RODNEY STAATZ CEO/PRESIDENT 40.00 X 794322 0 215647 STEVEN ARBAUGH CFO/VP OF FINANCE 40.00 X 241172 0 44129 MICHAEL GORDY EXECUTIVE VP/COO 40.00 X 302575 0 30178 MARGARET TUCKER SENIOR VP/MRBO 40.00 X 209595 0 30364 RODERIC FLOWERS VP OF HR 40.00 X 190129 0 41689 MARGARET YOUNG VP OF MARKETING 40.00 X 183017 0 34348 KEVIN KESECKER VP OF LENDING 40.00 X 208300 0 14656 JAMES ATKINSON SENIOR LOAN OFFICER 40.00 X 326362 0 48692 KIMBERLY SMITH MORTGAGE LOAN OFFICER 40.00 X 216387 0 34294 SUSAN VALENTE MORTGAGE LOAN OFFICER 40.00 X 237950 0 36578 RICHARD MECKEL JR MORTGAGE LOAN OFFICER 40.00 X 237749 0 22915 JAY HARRISON MORTGAGE LOAN OFFICER 40.00 X 217194 0 20109 3554776 0 573599 45 0 1 0 MORGAN-KELLER INC 70 THOMAS DRIVE SUITE 200 FREDERICK MD 21702 BRANCH MAINT/CONST MGMT 1110666 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM MAINTENANCE 934642 TARGET MEDIA INC 4750 LINDLE ROAD HARRISBURG PA 17111 MARKETING 922526 WORLDCOM INTELLIGENT TARGET MARKETING PO BOX 308 ELLINGTON CT 06029 MARKETING 839973 URBANLINK DBA URBAN LENDING SOLUTIONS 11802 RIDGE PARKWAY SUITE 200 BROOMFIELD CO 80021 MORTGAGE PROCESS/UNDERWRTG 816411 74 INTEREST ON LOANS 522100 86751918 86751918 SERVICE CHARGES INCOME 522100 23998026 23183310 814716 OTHER FEE INCOME 522100 12415074 12415074 EQUITY IN EARNINGS OF SUB 522100 135257 135257 123300275 6776482 6776482 877616 646802 230814 230814 230814 478971000 68800 477209895 0 1761105 68800 1829905 1829905 132137476 122485559 814716 8837201 33000 15816359 2577112 23499067 1562214 4437986 2284163 175439 8407095 2636081 1497420 13826730 2634565 176946 396349 23420 4447170 862095 PROVISION FOR LOAN LOSS 9224735 LENDING SERVICES 2707068 CHECKING SERVICES/NETWO 2294869 POSTAGE/COURIER 2051117 10376149 111947149 56252984 235497279 1876692154 1966328973 92801687 48701279 45389877 44100408 548756654 402180649 5371518 10373697 34499442 28704698 2566962629 2687185704 17755702 16256140 4688156 5310815 2290745574 2403158007 2313189432 2424724962 X 0 0 0 0 253773197 262460742 253773197 262460742 2566962629 2687185704 20190327 -11502783 0 X 0 1 X 1 0 0 1 X 12632615 12632615 28801769 8643104 20158665 10326989 6078010 4248979 40958641 33980165 6978476 81673 81673 44100408 AVAILABLE-FOR-SALE SECURITIES 362612254 F SECURITIES HELD-TO-MATURITY 15872883 F NATIONAL CREDIT UNION SHARE FUND DEPOSIT 23695512 F 402180649 SHARES AND DEPOSITS 2401772373 ACCRUED DIVIDENDS AND INTEREST PAYABLE 1385634 2403158007 X 132784278 0 132784278 -646802 -646802 132137476 112593950 646802 646802 111947148 0 111947148 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND REAL ESTATE TAXES ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. PART X, LINE 2: THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2013 AND 2012. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES RECLASSED TO REVENUE -646,802. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES RECLASSED TO REVENUE 646,802. 1 SCHOLARSHIPS 18 33000 PART I, LINE 2: THERE IS A COMMITTEE WHO READS THE ESSAYS THAT ARE SUBMITTED BY THE CHILDREN OF MARYLAND STATE EMPLOYEES. THE WINNERS OF THE SCHOLARSHIPS ARE CHOSEN BY THE COMMITTEE. CHECKS ARE ISSUED DIRECTLY TO THE SCHOOL, REFERENCING THE STUDENT'S NAME. THERE IS NO ADDITIONAL MONITORING OF THE FUNDS. X X X X X 0 1 0 RODNEY STAATZ CEO/PRESIDENT 521270 0 172055 0 100997 0 191018 0 24629 0 1009969 0 77057 0 STEVEN ARBAUGH CFO/VP OF FINANCE 187464 0 50404 0 3304 0 19175 0 24954 0 285301 0 0 0 MICHAEL GORDY EXECUTIVE VP/COO 236274 0 64123 0 2178 0 19443 0 10735 0 332753 0 0 0 MARGARET TUCKER SENIOR VP/MRBO 165606 0 41379 0 2610 0 16834 0 13530 0 239959 0 0 0 RODERIC FLOWERS VP OF HR 150625 0 38208 0 1296 0 15182 0 26507 0 231818 0 0 0 MARGARET YOUNG VP OF MARKETING 143921 0 37702 0 1394 0 14500 0 19848 0 217365 0 0 0 KEVIN KESECKER VP OF LENDING 168071 0 39211 0 1018 0 12725 0 1931 0 222956 0 0 0 JAMES ATKINSON SENIOR LOAN OFFICER 9754 0 311808 0 4800 0 20984 0 27708 0 375054 0 0 0 KIMBERLY SMITH MORTGAGE LOAN OFFICER 29465 0 182122 0 4800 0 19990 0 14304 0 250681 0 0 0 SUSAN VALENTE MORTGAGE LOAN OFFICER 26162 0 206988 0 4800 0 19036 0 17542 0 274528 0 0 0 RICHARD MECKEL JR MORTGAGE LOAN OFFICER 28600 0 204349 0 4800 0 19245 0 3670 0 260664 0 0 0 JAY HARRISON MORTGAGE LOAN OFFICER 32619 0 179775 0 4800 0 19422 0 687 0 237303 0 0 0 PART I, LINE 4B RODNEY STAATZ, PRESIDENT/CEO, PARTICIPATES IN A NON-QUALIFIED RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS DURING 2013. 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 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 FORM 990 IS REVIEWED BY THE CFO AND CONTROLLER PRIOR TO FILING WITH THE IRS. A COPY WILL ALSO BE PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C SECU ADMINISTRATION AND INTERNAL AUDIT HANDLE THE CREATION AND MAILING OF THE ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES TO THE MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, CREDIT COMMITTEE, VPS AND OTHER KEY EMPLOYEES (AS DESIGNATED BY THE CEO). RESPONSES ARE MAILED DIRECTLY TO M&P IN PREPAID ENVELOPES FOR THEIR INDEPENDENT REVIEW AND RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 FOR VP LEVEL EMPLOYEES, THE PRESIDENT/CEO CONTROLS DECISIONS, WITH THE BOARD BEING INFORMED OF THE DECISION, BUT NOT FORMALLY INVOLVED. THE CEO USES EXTERNAL SOURCES FOR VP SALARY MARKET DATA. THE CEO REVIEWS THIS DATA AND SETS VP MARKET SALARIES IN CONJUNCTION WITH THE VP OF HR. ANNUALLY THE BOARD MEETS WITH A CREDIT UNION INDUSTRY CONSULTANT TO REVIEW THE CEO COMPENSATION PLAN. CEO COMPARISON DATA ALONG WITH PERFORMANCE IS USED TO DETERMINE SALARY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE ANNUAL MEETING AND UPON REQUEST OF OUR MEMBERS FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). SECU TITLE LLC 971 CORPORATE BLVD LINTHICUM MD 21090 463163747 TITLE SERVICES MD -79801 11453 STATE EMPLOYEES CREDIT UNION OF MARYLAND INC SECURITY FINANCIAL GROUP 971 CORPORATE BOULEVARD LINTHICUM MD 21090 521804772 INSURANCE SALES MD STATE EMPLOYEES CREDIT UNION OF MARYLAND C 81180 731240 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0