STATE CHARTERED CREDIT UNIONS IN FLORIDA: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: STATE CHARTERED CREDIT UNIONS IN FLORIDA (EIN 59-0747276)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-07-22
IRS object ID: 201312039349300746
Schema version: 2012v2.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-07-22T05:55:08-00:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ORTH CHAKLER MURNANE AND CO CPAs	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	12060 SW 129 COURT SUITE 201	AddressLine1
City	MIAMI	City
State	FL	State
ZIP Code	33186	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	590747276	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	STATE CHARTERED CREDIT UNION IN FLORIDA (UNIVERSITY CREDIT UNION)	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	STAT	NameControl
Phone	7864255000	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	13241 SW 136 STREET	AddressLine1
City	MIAMI	City
State	FL	State
ZIP Code	331865822	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	Barbara Thomas	Name
Title	EVPCOO	Title
Phone	7864255024	Phone
Date Signed	2013-07-22	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	DOUGLAS ORTH	Name
Phone	3052328272	Phone
Date Prepared	2013-07-22	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Doing Business As DoingBusinessAs

Field	Value	IRS element (for citing)
Business Name Line1	UNIVERSITY CREDIT UNION	BusinessNameLine1

Name Of Principal Officer Business NameOfPrincipalOfficerBusiness

Field	Value	IRS element (for citing)
Business Name Line1	MICHAEL J WELCH SR	BusinessNameLine1

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	13241 SW 136TH STREET	AddressLine1
City	MIAMI	City
State	FL	State
ZIP Code	331865822	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	8332158	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Group Exemption Number	2106	GroupExemptionNumber
Organization501c	X	Organization501c
Web Site	WWW.MYUNICU.COOP	WebSite
Type Of Organization Other	X	TypeOfOrganizationOther
Type Of Org Other Description	CREDIT UNION	TypeOfOrgOtherDescription
Year Formation	1947	YearFormation
State Legal Domicile	FL	StateLegalDomicile
Activity Or Mission Description	THE MISSION OF UNIVERSITY CREDIT UNION IS TO PROVIDE A VARIETY OF QUALITY FINANCIAL SERVICES FOR OUR MEMBERS TO IMPROVE THEIR FINANCIAL STATUS.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	9	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	9	NbrIndependentVotingMembers
Total Nbr Employees	90	TotalNbrEmployees
Total Nbr Volunteers	14	TotalNbrVolunteers
Total Gross UBI	80649	TotalGrossUBI
Net Unrelated Business Txbl Income	-27375	NetUnrelatedBusinessTxblIncome
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	7494501	ProgramServiceRevenuePriorYear
Program Service Revenue CY	7181748	ProgramServiceRevenueCY
Investment Income Prior Year	1189667	InvestmentIncomePriorYear
Investment Income Current Year	924374	InvestmentIncomeCurrentYear
Other Revenue Current Year	226036	OtherRevenueCurrentYear
Total Revenue Prior Year	8684168	TotalRevenuePriorYear
Total Revenue Current Year	8332158	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	4185544	SalariesEtcPriorYear
Salaries Etc Current Year	3563073	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	6972862	OtherExpensePriorYear
Other Expenses Current Year	4768795	OtherExpensesCurrentYear
Total Expenses Prior Year	11158406	TotalExpensesPriorYear
Total Expenses Current Year	8331868	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-2474238	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	290	RevenuesLessExpensesCY
Total Assets BOY	182354149	TotalAssetsBOY
Total Assets EOY	188947776	TotalAssetsEOY
Total Liabilities BOY	163251248	TotalLiabilitiesBOY
Total Liabilities EOY	169844585	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	19102901	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	19103191	NetAssetsOrFundBalancesEOY
Mission Description	INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE CREDIT UNION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Description	INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE CREDIT UNION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.	Description
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	true	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	true	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	true	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	2418	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	90	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	true	UnrelatedBusinessIncome
Form990-T Filed	true	Form990-TFiled
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	9	NbrVotingGoverningBodyMembers
Number Independent Voting Members	9	NumberIndependentVotingMembers
Family Or Business Relationship	true	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	true	MembersOrStockholders
Election Of Board Members	true	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	false	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	false	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	false	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	false	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	BARBARA THOMAS	NamePerson
Telephone Number	7864255024	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	13241 SW 136 STREET	AddressLine1
City	MIAMI	City
State	FL	State
ZIP Code	33186	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (11 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Average Hours Per Week RelatedAverageHoursPerWeekRelated	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer
NICHOLAS DICIACCO
VICE CHAIRMAN	005.00	005.00	X	0	0	0
SCOTT INGOLD
BOARD CHAIRMAN	010.00	010.00	X	0	0	0
ROBERT J DUBORD
TREASURER	005.00	005.00	X	0	0	0
LYNDA K RAHEEM
SECRETARY	005.00	005.00	X	0	0	0
MARY S NATIELLO
BOARD MEMBER	005.00	005.00	X	0	0	0
BOB BURNS
BOARD MEMBER	005.00	005.00	X	0	0	0
C DELANO GRAY
BOARD MEMBER	005.00	005.00	X	0	0	0
STEWART SERUYA
BOARD MEMBER	005.00	005.00	X	0	0	0
REMBERTO SANCHEZ
BOARD MEMBER	005.00	005.00	X	0	0	0
MICHAEL J WELCH SR
CEO	060.00	060.00		255800	0	48448	X
BARBARA THOMAS
EVP/COO	060.00	060.00		141802	0	36066	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	397602	TotalReportableCompFromOrg
Total Other Compensation	84514	TotalOtherCompensation
Number Individuals GT100 K	2	NumberIndividualsGT100K
Formers Listed	false	FormersListed
Total Comp GT150 K	true	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (4 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
FISERV
PO BOX 60000	SAN FRANCISCO	CA	94160	DATA PROCESSING	409303
FISERV EFT
PO BOX 60000	SAN FRANCISCO	CA	94160	DEBIT AND ATM PROCESSING	696782
FIS
11601 N ROOSEVELT BLVD	ST PETERSBURG	FL	33716	CREDIT CARD PROCESSING	169776
MIAMI DADE TAX COLLECTOR
140 SW FLAGLER STREET	MIAMI	FL	33130	TANGIBLE PROP/RE TAXES	132841

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	4	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (3 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome	Unrelated Business RevenueUnrelatedBusinessRevenue
INCOME ON LOANS	522100	3582985	3582985
FEES AND CHARGES	522100	3518114	3518114
UNRELATED BUSINESS INCOME	900099	80649		80649

Field	Value	IRS element (for citing)
Total Program Service Revenue	7181748	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	924374	TotalRevenueColumn
Related Or Exempt Function Income	924374	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	INCOME FROM INVESTMENTS IN CORPORATE CREDIT UNIONS	Description
Business Code	522100	BusinessCode
Total Revenue Column	226036	TotalRevenueColumn
Related Or Exempt Function Income	226036	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	226036	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	8332158	TotalRevenueColumn
Related Or Exempt Function Income	8251509	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	80649	UnrelatedBusinessRevenue

Grants To Domestic Orgs GrantsToDomesticOrgs

Field	Value	IRS element (for citing)
Total	0	Total

Grants To Domestic Individuals GrantsToDomesticIndividuals

Field	Value	IRS element (for citing)
Total	0	Total

Foreign Grants ForeignGrants

Field	Value	IRS element (for citing)
Total	0	Total

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	0	Total

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	482116	Total
Program Services	482116	ProgramServices

Comp Disqual Persons CompDisqualPersons

Field	Value	IRS element (for citing)
Total	0	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	2474852	Total
Program Services	2474852	ProgramServices

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	5700	Total
Program Services	5700	ProgramServices

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	356857	Total
Program Services	356857	ProgramServices

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	243548	Total
Program Services	243548	ProgramServices

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	28662	Total
Program Services	28662	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	63700	Total
Program Services	63700	ProgramServices

Fees For Services Lobbying FeesForServicesLobbying

Field	Value	IRS element (for citing)
Total	0	Total

Field	Value	IRS element (for citing)
Fees For Services Prof Fundraising		FeesForServicesProfFundraising

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	246147	Total
Program Services	246147	ProgramServices

Advertising Advertising

Field	Value	IRS element (for citing)
Total	167740	Total
Program Services	167740	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	367301	Total
Program Services	367301	ProgramServices

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	496288	Total
Program Services	496288	ProgramServices

Royalties Royalties

Field	Value	IRS element (for citing)
Total	0	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	442217	Total
Program Services	442217	ProgramServices

Travel Travel

Field	Value	IRS element (for citing)
Total	16671	Total
Program Services	16671	ProgramServices

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

Field	Value	IRS element (for citing)
Total	0	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	0	Total

Interest Interest

Field	Value	IRS element (for citing)
Total	292274	Total
Program Services	292274	ProgramServices

Payments To Affiliates PaymentsToAffiliates

Field	Value	IRS element (for citing)
Total	0	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	435787	Total
Program Services	435787	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	96372	Total
Program Services	96372	ProgramServices

Other Expenses OtherExpenses

Field	Value	IRS element (for citing)
Description	SEE ATTACHED SCHEDULE	Description
Total	2115636	Total
Program Services	2115636	ProgramServices

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	0	Total

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	8331868	Total
Program Services	8331868	ProgramServices

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	1514301	BOY
EOY	1697835	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	67155327	BOY
EOY	66896756	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	1697597	BOY
EOY	974599	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	59232084	BOY
EOY	53867704	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	179835	BOY
EOY	131768	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	16464914	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	4799048	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	11602632	BOY
EOY	11665866	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	298845	BOY
EOY	2803412	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	35827704	BOY
EOY	45578965	EOY

Intangible Assets IntangibleAssets

Field	Value	IRS element (for citing)
BOY	4833	BOY
EOY	4332	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	4840991	BOY
EOY	5326539	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	182354149	BOY
EOY	188947776	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	1619997	BOY
EOY	1861330	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	161631251	BOY
EOY	167983255	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	163251248	BOY
EOY	169844585	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	19102901	BOY
EOY	19103191	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	19102901	BOY
EOY	19103191	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	182354149	BOY
EOY	188947776	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	290	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Included On FS	false	IncludedOnFS

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	3001502	OtherCostOrOtherBasis
Book Value	3001502	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	8163722	OtherCostOrOtherBasis
Depreciation	1053975	Depreciation
Book Value	7109747	BookValue

Leasehold Improvements LeaseholdImprovements

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	496659	OtherCostOrOtherBasis
Depreciation	221456	Depreciation
Book Value	275203	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	4803031	OtherCostOrOtherBasis
Depreciation	3523617	Depreciation
Book Value	1279414	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	11665866	TotalOfBookValueLandBuildings

Other Securities OtherSecurities (4 entries)

DescriptionDescription	Book ValueBookValue	Method Of ValuationMethodOfValuation
Financial derivatives and other financial products
Closely-held equity interests
NIFCUS	85459	F
CERTIFICATES OF DEPOSITS - LONG TERM	45493506	F

Field	Value	IRS element (for citing)
Total Of Book Value Securities	45578965	TotalOfBookValueSecurities

Other Liabilities OtherLiabilities (6 entries)

DescriptionDescription	AmountAmount
Federal income taxes
SHARE DRAFTS	$41,325,186
SHARES AND CLUBS	$54,330,727
MONEY MARKET	$44,542,164
IRA SHARES	$5,222,088
SHARE AND IRA CERTIFICATES	$22,563,090

Field	Value	IRS element (for citing)
Total Of Amounts	167983255	TotalOfAmounts
Footnote In Part XIII	X	FootnoteInPartXIII
Tot Revenue Etc Audited Fincl Stmt	8332158	TotRevenueEtcAuditedFinclStmt
Revenue Subtotal	8332158	RevenueSubtotal
Total Revenue Per Form990	8332158	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	8331868	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	8331868	ExpensesSubtotal
Total Expenses Per Form990	8331868	TotalExpensesPerForm990

Form990 Schedule D Part XIII Form990ScheduleDPartXIII

Field	Value	IRS element (for citing)
Identifier	X	Identifier
Return Reference	2	ReturnReference
Explanation	THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE MORE LIKELY THAN NOT STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN THE INTERNAL REVENUE CODE IRC SECTION 50414. AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNNICAL ADVICE MEMORANDUMS TAMs TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX UBIT. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNIONS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITON OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2011, 2010, AND 2009 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS.	Explanation

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Written Employment Contract	X	WrittenEmploymentContract
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	false	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)

TitleTitle	Base Compensation Filing OrgBaseCompensationFilingOrg	Other Compensation Filing OrgOtherCompensationFilingOrg	Deferred Comp Filing OrgDeferredCompFilingOrg	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg	Total Compensation Filing OrgTotalCompensationFilingOrg
MICHAEL J WELCH SR
CEO	246314	9486	29020	19428	304248
BARBARA THOMAS
EVP/COO	137041	4761	28994	7072	177868

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (6 entries)

ExplanationExplanation
Form 990 Part VI Section A Line 6 THE ORGANIZATION HAS MEMBERS.
Form 990 Part VI Section A Line 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN ELECTION OF OFFICIALS.
Form 990 Part VI Section B Line 11 THE FORM 990 WILL BE REVIEWED BY THE EXECUTIVE VICE PRESIDENT WHERE ALL THE DATA USED TO COMPILE THE FORM 990 CAME FROM THE AUDITED FINANCIALS AND WORKPAPERS BY THE EXTERNAL AUDITORS.
Form 990 Part VI Section B Line 15A THE REVIEW OF THE CEOS COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD OF DIRECTORS USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEOS COMPENSATION.
Form 990 Part VI Section B Line 15B FOR ALL EMPLOYEES IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE CEO UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY.
Form 990 Part VI Section C Line 19 THE CREDIT UNIONS GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING.