2013-08-09T14:50:12-05:00 2012-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2012-01-01 060634736 SIKORSKY FINANCIAL CREDIT UNION SIKO 2033772252 1000 ORONOQUE LANE STRATFORD CT 06614 VINCENT CIAMBRIELLO 2033772252 2013-08-08 1 GERALD B KISSELL P00092658 6123324300 2012 2016-02-25 16:41:14Z VINCENT CIAMBRIELLO 1000 ORONOQUE LANE STRATFORD CT 06614 27114878 0 X WWW.SIKORSKYFCU.ORG X 1948 CT SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP. 10 10 149 18 64178 -17352 0 0 23092231 22014264 4712899 4777469 296552 317262 28101682 27108995 6000 6000 4851056 3713432 9121589 9341341 0 0 0 10434445 10503432 24413090 23564205 3688592 3544790 642763841 681124709 573246926 608441334 69516915 72683375 SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP. 0 0 SFCU OFFERS SAVINGS AND LOAN PROGRAMS. THE SHARE SAVINGS INCLUDES REGULAR SHARE SAVINGS ACCOUNTS, DAILY MONEY MARKET ACCOUNTS, EARLY ADVANTAGE ACCOUNTS, COVERDALE EDUCATION SAVINGS, SHARE DRAFT ACCOUNTS, AND SHARE CERTIFICATES. THE LOAN PROGRAM INCLUDES MORTGAGE LOANS, NEW AND USED AUTO LOANS, MOTORCYCLE LOANS, RECREATIONAL VEHICLE LOANS, BOAT LOANS, AND CREDIT CARDS. SFCU'S SUBSIDIARY, A CREDIT UNION SERVICE ORGANIZATION ("CUSO"), IS ENGAGED PRIMARILY IN FINANCIAL AND INSURANCE SERVICES. 0 0 0 0 0 0 0 0 0 1 1 0 0 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 0 0 1 2474 0 1 149 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JIM HARPER CFO 2033857304 1000 ORONOQUE LANE STRATFORD CT 06614 WILLIAM W BOIAN 2.60 X X 2672 0 0 WILLIAM F SCHLENK JR 1.70 X X 0 0 0 JOSEPH KUBIC 1.70 X X 1130 0 0 ELIZABETH H DORNEY 1.30 X 0 0 0 MAUREEN FINO 1.30 X 1112 0 0 GEOFFREY R HERALD 1.30 X 0 0 0 MARK IZZO 1.30 X 0 0 0 JAMES PRUSACZYK 1.30 X 947 0 0 JOHN PAWLOWSKI 1.30 X 0 0 0 CAROL NAVARRO 1.30 X 0 0 0 THOMAS J WILLIAMS 40.00 X 305766 0 40452 VINCENT CIAMBRIELLO JR 40.00 X 191644 0 34107 JAMES HARPER 40.00 X 165497 0 40153 FRANCINE PLATKO 40.00 X 165420 0 24809 JANET GYGER 37.50 X 149513 0 44170 AL J FESTINI 37.50 X 126273 0 36352 CHARLES K HODDINOTT 37.50 X 118927 0 23628 CARMEN C ALVARADO 37.50 X 123622 0 16615 1352523 0 260286 8 0 1 0 FIS 11601 N ROOSEVELT BLVD ST PETERSBURG FL 33716 VISA PROCESSOR 705603 EFUNDS DEPT 2667 LOS ANGELES CA 90084 ATM DEBIT CARD PROCESSING 436369 ADPT TELEPHONY SERVICES LLC 600 ENTERPRISE DR STE 204 OAK BROOK IL 60523 SOFTWARE/HARDWARE/MAINTENANCE/CONSULTING 328254 FISERV SOLUTIONS INC 75 REMITTANCE DRIVE SUITE 6945 CHICAGO IL 60675 SOFTWARE/MAINTENANCE 245959 INTUIT FINANCIAL SERVICES PO BOX 515306 LOS ANGELES CA 900516606 ONLINE BANKING 160078 11 INTEREST ON LOANS TO M 522100 16888694 16888694 SERVICE CHARGES 522100 3682535 3618357 64178 ATM CARD FEES 522100 1443035 1443035 22014264 4644717 4644717 138635 0 5883 138635 -5883 132752 132752 CUSO OPERATING INCOME 522100 209881 209881 OTHER MISC OPERATING INCOME 522100 89900 89900 NON OPERATING INCOME 522100 17481 17481 317262 27108995 22267348 64178 4777469 1000 5000 3713432 954013 6304024 534457 936614 612233 11008 44384 133142 170207 946833 1096824 106367 1002135 14360 221709 335 72666 458201 91987 PROVISION FOR LOAN LOSS 2835353 ATM EXPENSE 599514 MEMBER INSURANCE EXPENS 553772 LOAN SERVICING 515742 1628893 23564205 42579105 53400595 138070 126636 294647827 282873147 573869 602798 11171201 8519452 2776780 2651749 294117526 333159935 7930664 8309849 642763841 681124709 2221822 2609987 571025104 605831347 573246926 608441334 X 0 0 0 0 69516915 72683375 69516915 72683375 642763841 681124709 3544790 -378330 0 X 0 1 X 1 0 600000 600000 3507081 2693360 813721 1662650 1373572 289078 3670530 2932492 738038 1730940 1520028 210912 2651749 AVAILABLE FOR SALE INVESTMENTS 314630518 F OTHER INVESTMENTS - RESTRICTED STOCK 18529417 F 333159935 MEMBERS' SHARES 605543592 ACCRUED DIVIDENDS PAYABLE 287755 605831347 X DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE CREDIT UNION ADOPTED GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AS OF JANUARY 1, 2009. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. X X 1 1 X X X 0 0 0 THOMAS J WILLIAMS 299957 0 0 0 5809 0 24000 0 16452 0 346218 0 0 0 VINCENT CIAMBRIELLO JR 191383 0 0 0 261 0 18532 0 15575 0 225751 0 0 0 JAMES HARPER 165188 0 0 0 309 0 16289 0 23864 0 205650 0 0 0 FRANCINE PLATKO 164478 0 0 0 942 0 16106 0 8703 0 190229 0 0 0 JANET GYGER 149313 0 0 0 200 0 15277 0 28893 0 193683 0 0 0 AL J FESTINI 126124 0 0 0 149 0 12619 0 23733 0 162625 0 0 0 PART I, LINE 1A THE POLICY OF THE CREDIT UNION IS TO PROVIDE OPPORTUNITIES FOR THE BOARD, COMMITTEES, MANAGEMENT AND STAFF TO ATTEND MEETINGS, CONFERENCES AND OTHER EDUCATION SESSIONS THAT PROVIDE DESIRED TRAINING, DEPTH OF UNDERSTANDING IN TECHNICAL AREAS, AND IDEAS HELPFUL TO DEVELOPMENT OR OPERATION OF THE CREDIT UNION. THE CREDIT UNION WILL PAY FOR EACH BOARD AND COMMITTEE MEMBER TO BE ACCOMPANIED BY ONE GUEST TO A CREDIT UNION RELATED CONFERENCE AS APPROVED BY THE BOARD OF DIRECTORS. THE CREDIT UNION WILL ALSO PAY FOR CHAIRMEN OF COMMITTEES TO ATTEND ONE EDUCATIONAL SEMINAR IN THE COMMITTEE'S AREA OF RESPONSIBILITY. IN ACCORDANCE WITH IRS TAX LIABILITIES, IF THE SPOUSE OR GUEST ATTENDANCE AT THE MEETING IS NOT REQUIRED BECAUSE HE OR SHE WILL NOT ACTIVELY ENGAGE IN THE ADMINISTRATION OF THE MEETING AND IF THE TRAVEL EXPENSE REIMBURSEMENT FOR THE SPOUSE OR GUEST EXCEEDS $600.00 IN ANY ONE CALENDAR YEAR, THEN A 1099 IS ISSUED TO THE VOLUNTEER OF THE CREDIT UNION AS COMPENSATION FOR THE AMOUNT OF THE SPOUSE OR GUEST TRAVEL EXPENSE REIMBURSEMENT. 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 THE DIRECTOR OF INTERNAL AUDIT, CEO, AND SFCU BOARD WILL REVIEW FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO ATTEND ANNUAL POLICY REVIEW TRAINING. AN EMPLOYEE'S SIGNED ACKNOWLEDGEMENT IS OBTAINED AND FILED IN EMPLOYEE'S PERSONNEL FILE. NEWLY HIRED EMPLOYEES ARE TRAINED DURING NEW HIRE ORIENTATION. THE POLICY IS INCLUDED IN THE SFCU EMPLOYEE HANDBOOK, ALSO AVAILABLE ELECTRONICALLY.THE INTERNAL AUDITOR, PRESIDENT/CEO OR DESIGNATED EXECUTIVE MANAGMENT OFFICAL, HUMAN RESOURSES MANAGER/SECURITY OFFICER ARE NOTIFIED OF ANY FRAUD DISCOVERED UNDER CODE OF PERSONAL AND PROFESSIONAL ETHICS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE SETS COMPENSATION FOR THE CEO/PRESIDENT OF SFCU. THE CEO/PRESIDENT SETS COMPENSATION FOR SFCU OFFICERS AND KEY EMPLOYEES WITHIN THE CREDIT UNION APPROVED BUDGET. HUMAN RESOURCES COMMITTEE ANNUAL MEETING MINUTES PREPARED BY HR MANAGER AND CEO ARE APPROVED BY THE BOARD AND MAINTAINED BY HR. A COPY IS PROVIDED TO DIRECTOR OF INTERNAL AUDIT. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION HAS ADOPTED GUIDELINES WHICH CONFORM TO THE BANK BRIBERY ACT OF 1985. GUIDELINES ARE INCORPORATED INTO THE CODE OF ETHICS AND CONFLICT OF INTEREST POLICIES; INCLUDED IN THE SFCU HANDBOOK, ALSO AVAILABLE ELECTRONICALLY TO EMPLOYEES. FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY OF ALL OFFICES AND GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST. INSTRUCTIONS FOR OBTAINING COPIES OF GOVERNING DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY. 980 FINANCIAL SERVICES CORP 1000 ORONOQUE LANE STRATFORD CT 06614 060634736 INSURANCE SERVICES CT SIKORSKY FINANCIAL CREDIT UNION C 261527 1487793 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 980 FINANCIAL SERVICES CORP A 9000 ACTUAL AMOUNT