PENNSYLVANIA STATE EMPLOYEES CREDIT UNION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- PENNSYLVANIA STATE EMPLOYEES CREDIT UNION (EIN 23-0961140)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-10-25
- IRS object ID
- 201312989349301021
- Schema version
- 2012v2.1
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-10-25T14:02:42-05:00 | 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 | PricewaterhouseCoopers LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 MARKET ST SUITE 1700 | AddressLine1 |
| City | PHILADELPHIA | City |
| State | PA | State |
| ZIP Code | 19103 | 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 | 230961140 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PENNSYLVANIA STATE EMPLOYEES CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % CAROL NOBLIT | InCareOfName |
| Name Control | PENN | NameControl |
| Phone | 8002377328 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 CREDIT UNION PLACE | AddressLine1 |
| Address Line2 | Suite | AddressLine2 |
| City | HARRISBURG | City |
| State | PA | State |
| ZIP Code | 17110 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Scott W Rhoads | Name |
| Title | V.P. Finance | Title |
| Phone | 7177772049 | Phone |
| Date Signed | 2013-10-25 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2673303000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | GREGORY A SMITH | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 ELMERTON AVENUE | AddressLine1 |
| City | HARRISBURG | City |
| State | PA | State |
| ZIP Code | 17110 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 276802755 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.PSECU.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1933 | YearFormation |
| State Legal Domicile | PA | StateLegalDomicile |
| Activity Or Mission Description | ATTACHMENT 1 | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 753 | TotalNbrEmployees |
| Total Gross UBI | 1155865 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -736526 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 176377957 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 175624470 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 9947669 | InvestmentIncomePriorYear |
| Investment Income Current Year | 9074409 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 7551593 | OtherRevenuePriorYear |
| Other Revenue Current Year | 8004383 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 193877219 | TotalRevenuePriorYear |
| Total Revenue Current Year | 192703262 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 161309 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 164500 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 41949511 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 46634459 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 110781270 | OtherExpensePriorYear |
| Other Expenses Current Year | 114882080 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 152892090 | TotalExpensesPriorYear |
| Total Expenses Current Year | 161681039 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 40985129 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 31022223 | RevenuesLessExpensesCY |
| Total Assets BOY | 3827077115 | TotalAssetsBOY |
| Total Assets EOY | 4004851873 | TotalAssetsEOY |
| Total Liabilities BOY | 3476847561 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 3624509496 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 350229554 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 380342377 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION ("PSECU") IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM, AT LEGITIMATE RATES OF INTEREST, FOR PROVIDENT PURPOSES. IN ACCOMPLISHING ITS PURPOSES, PSECU CONTINUALLY STRIVES TO MAINTAIN A PROGRESSIVE AND FINANCIALLY STABLE CREDIT UNION THAT GIVES PSECU MEMBERS CONTROL OVER THEIR FINANCES. PSECU ALSO PROVIDES MEMBERS WITH A VARIETY OF HIGH QUALITY TRADITIONAL AND INNOVATIVE FINANCIAL PRODUCTS AND SERVICES, WHICH ARE CONVENIENT, WITH SUPERIOR PRICING AND AVAILABLE THROUGH SELF-SERVICE DELIVERY CHANNELS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | As of December 31, 2012, the Pennsylvania State Employees Credit Union has 398,751 members to whom it provides deposit and loan services. There were 284,405 loans with balances of $2,750,623,247 outstanding at December 31, 2012. Share deposits were $3,590,400,606. PSECU strives to provide its members with high quality, convenient financial products and services with superior pricing. | Description |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | true | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | 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 | true | 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 | 151 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 753 | 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 | false | 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 | true | 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 | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | 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 |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | CAROL NOBLIT | NamePerson |
| Telephone Number | 7177772049 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 CREDIT UNION PLACE | AddressLine1 |
| City | HARRISBURG | City |
| State | PA | State |
| ZIP Code | 17110 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (21 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| R BRIAN WILBUR | ||||||||
| DIRECTOR | 9.0 | X | 14195 | 0 | 0 | |||
| GEORGE J WEST | ||||||||
| DIRECTOR | 9.0 | X | 17527 | 0 | 0 | |||
| FRANK J BREINER | ||||||||
| DIRECTOR | 9.0 | X | 14258 | 0 | 0 | |||
| KATHLEEN A SALMON | ||||||||
| DIRECTOR | 8.0 | X | 11050 | 0 | 0 | |||
| JOSEPH A LAWRUK | ||||||||
| DIRECTOR | 8.0 | X | 11000 | 0 | 0 | |||
| JOSEPH SASSANO | ||||||||
| DIRECTOR | 9.0 | X | 15987 | 0 | 0 | |||
| JODI LYNNE BLANCH | ||||||||
| DIRECTOR | 9.0 | X | 14258 | 0 | 0 | |||
| TIMOTHY D GRUNSTRA | ||||||||
| DIRECTOR | 8.0 | X | 7525 | 0 | 0 | |||
| MICHAEL C FERSTER | ||||||||
| DIRECTOR | 8.0 | X | 11500 | 0 | 0 | |||
| GREGORY A SMITH | ||||||||
| CEO | 37.5 | 755929 | 0 | 52223 | X | |||
| SCOTT W RHOADS | ||||||||
| CFO | 37.5 | 223898 | 0 | 58487 | X | |||
| RICHARD L LONG | ||||||||
| VP | 37.5 | 252899 | 0 | 46948 | X | |||
| WILLIAM C ZYSK | ||||||||
| VP | 37.5 | 246418 | 0 | 50599 | X | |||
| DAVID WARWAVESYN | ||||||||
| VP | 37.5 | 239689 | 0 | 66045 | X | |||
| THOMAS J RUBACK | ||||||||
| VP | 37.5 | 231262 | 0 | 51557 | X | |||
| BARBARA J BOWKER | ||||||||
| VP | 37.5 | 229300 | 0 | 44876 | X | |||
| KIMBERLEY M FRANK | ||||||||
| VP | 37.5 | 190940 | 0 | 45324 | X | |||
| FREDERICK F COFFROTH | ||||||||
| VP | 37.5 | 196182 | 0 | 47121 | X | |||
| CATHERINE M TAMA-TROUTMAN | ||||||||
| VP | 37.5 | 188848 | 0 | 44565 | X | |||
| SCOTT J DAVIS | ||||||||
| AVP | 37.5 | 152350 | 0 | 35510 | X | |||
| JODI HARNER | ||||||||
| AVP | 37.5 | 147907 | 0 | 35273 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 3172922 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 578528 | TotalOtherCompensation |
| Number Individuals GT100 K | 25 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| BARLEY SNYDER LLC | |||||
| 126 E KING STREET | LANCASTER | PA | 17602 | COLLECTION SERVICES | 311770 |
| PRICEWATERHOUSECOOPERS LLP | |||||
| PO BOX 7247-8001 | PHILADELPHIA | PA | 19170 | AUDIT & TAX SERVICES | 269816 |
| PENNEBAKER'S CLEANING | |||||
| 1609 CARLISLE RD | CAMP HILL | PA | 17011 | JANITORIAL SERVICES | 253953 |
| VENTUS NETWORKS LLC | |||||
| 10 NORDEN PLACE | NORWALK | CT | 06855 | NETWORK SERVICES | 203528 |
| MCNEES WALLACE NURICK | |||||
| PO BOX 11666 | HARRISBURGH | PA | 17108 | LEGAL SERVICES | 185024 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 15 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST ON LOANS TO MEMBERS | 522100 | 145729692 | 145729692 | |
| INTERCHANGE FEES | 522100 | 20472409 | 20472409 | |
| ATM FEES | 522200 | 6442985 | 5287120 | 1155865 |
| CHECKING ACCOUNTS | 522100 | 2979384 | 2979384 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 175624470 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 7507531 | TotalRevenueColumn |
| Exclusion | $7,507,531 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 497521 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 351117 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 146404 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 146404 | TotalRevenueColumn |
| Exclusion | $146,404 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 85315254 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 83748376 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 1566878 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1566878 | TotalRevenueColumn |
| Exclusion | $1,566,878 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OTHER INCOME | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 7857979 | TotalRevenueColumn |
| Related Or Exempt Function Income | 7857979 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 7857979 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 192703262 | TotalRevenueColumn |
| Related Or Exempt Function Income | 182326584 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 1155865 | UnrelatedBusinessRevenue |
| Exclusion | $9,220,813 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 164500 | 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 | 3751450 | Total |
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 | 26560039 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4079283 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9696584 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2547103 | Total |
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 | 231620 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 275941 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
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 | 2924749 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3769593 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6668987 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2910511 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3385500 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 495896 | Total |
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 | 27735444 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3695678 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1070228 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSSES | 23953129 |
| RELATIONSHIP REWARD | 10060672 |
| ATM EXPENSE | 13182397 |
| CHECK CARD PROGRAM EXPENSE | 4536650 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9985085 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 161681039 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 593562215 | BOY |
| EOY | 592505863 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 166419556 | BOY |
| EOY | 201520295 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2555957270 | BOY |
| EOY | 2711411510 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 110839388 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 47168639 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 32936537 | BOY |
| EOY | 63670749 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 399429882 | BOY |
| EOY | 346194116 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16057337 | BOY |
| EOY | 16057337 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62714318 | BOY |
| EOY | 73492003 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3827077115 | BOY |
| EOY | 4004851873 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2624432 | BOY |
| EOY | 1602950 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3350725 | BOY |
| EOY | 3826418 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3470872404 | BOY |
| EOY | 3619080128 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3476847561 | BOY |
| EOY | 3624509496 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 600765 | BOY |
| EOY | 636432 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 349628789 | BOY |
| EOY | 379705945 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 350229554 | BOY |
| EOY | 380342377 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3827077115 | BOY |
| EOY | 4004851873 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 31022223 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | -14867072 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 13957672 | ReconcilationOtherChanges |
| 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) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | true | IncludedOnFS |
| Explanation In Part XIII | X | ExplanationInPartXIII |
| Current Year Minus3 Years | CurrentYearMinus3Years | |
| Current Year Minus4 Years | CurrentYearMinus4Years |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5312673 | OtherCostOrOtherBasis |
| Book Value | 5312673 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 69951510 | OtherCostOrOtherBasis |
| Depreciation | 17673599 | Depreciation |
| Book Value | 52277911 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 748511 | OtherCostOrOtherBasis |
| Depreciation | 732559 | Depreciation |
| Book Value | 15952 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 21779099 | OtherCostOrOtherBasis |
| Depreciation | 17909439 | Depreciation |
| Book Value | 3869660 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 13047595 | OtherCostOrOtherBasis |
| Depreciation | 10853042 | Depreciation |
| Book Value | 2194553 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 63670749 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 466875 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| MEMBERS' SHARES | $3,586,574,188 |
| OTHER LIABILITIES | $32,039,065 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 3619080128 | TotalOfAmounts |
| Tot Revenue Etc Audited Fincl Stmt | 192703262 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 192703262 | RevenueSubtotal |
| Total Revenue Per Form990 | 192703262 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 161681039 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 161681039 | ExpensesSubtotal |
| Total Expenses Per Form990 | 161681039 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (2 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| PART IV, LINE 2B | ESCROW ACCOUNTS ARE HELD FOR MORTGAGE LOANS. |
| PART X | THE CREDIT UNION IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME. INTEREST RELATED TO TAX UNCERTAINTIES IS CLASSIFIED AS INCOME TAX EXPENSE, WHICH IS INCLUDED IN OTHER OPERATING EXPENSES ON THE STATEMENTS OF INCOME. A RECONCILIATION OF THE BEGINNING AND ENDING AMOUNT OF TAX LIABILITY IS AS FOLLOWS: 2012 2011 BALANCE AT BEGINNING OF YEAR $443,000 $428,000 INCREASES BASED ON TAX POSITION RELATED TO THE CURRENT YEAR 24,000 15,000 ------- ------- BALANCES AT END OF YEAR $467,000 $443,000 ======== ======== |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Recipient Table RecipientTable (10 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant |
|---|---|---|---|---|---|---|---|
| AMERICAN HEART ASSOCIATION | |||||||
| 7272 GREENVILLE AVENUE | DALLAS | TX | 75231 | 135613797 | 501(c)(3) | 34000 | GENERAL DONATION |
| CHILDREN'S MIRACLE NETWORK | |||||||
| 4525 S 2300 EAST | SALT LAKE CITY | UT | 84117 | 670387305 | 501(c)(3) | 12000 | GENERAL DONATION |
| LEADERSHIP HARRISBURG AREA | |||||||
| 3211 N FRONT STREET | HARRISBURGH | PA | 17110 | 251583596 | 501(C)(3) | 6000 | GENERAL DONATION |
| HARRISBURG CITY | |||||||
| 10 N 2ND STREET | HARRISBURG | PA | 17101 | 236002010 | harrisburg city | 17500 | COMMUNITY EVENTS |
| HARRISBURG UNIVERSITY OF SCIENCE AND TECHNOLOGY | |||||||
| 304 MARKET STREET | HARRISBURG | PA | 17101 | 251900793 | 501(c)(3) | 10000 | GENERAL DONATION |
| PA CREDIT UNION FOUNDATION | |||||||
| 4309 NORTH FRONT ST | HARRIBSURG | PA | 17106 | 251786339 | 501(c)(3) | 10000 | GENERAL DONATION |
| YWCA OF GREATER HARRISBURG | |||||||
| 1101 MARKET STREET | HARRISBURG | PA | 17103 | 231370514 | 501(c)(3) | 6000 | GENERAL DONATION |
| CENTRAL PA FOODBANK | |||||||
| 3908 COREY RD | HARRISBURG | PA | 17109 | 232202250 | 501(C)(3) | 22000 | GENERAL DONATION |
| WORLDWIDE FOUNDATION FOR CREDIT UNIONS | |||||||
| 5710 MINERAL POINT RD | MADISON | WI | 53705 | 396093210 | 501(c)(3) | 14000 | GENERAL DONATION |
| Junior Achievement of South Central PA | |||||||
| 610 S George St | York | PA | 17403 | 231598129 | 501(c)(3) | 7500 | General Donation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 10 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART 1, QUESTION 2 | Identifier |
| Explanation | THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION PROVIDES CHARITABLE CONTRIBUTIONS TO QUALIFIED U.S. ORGANIZATIONS AFTER REVIEW OF THEIR FORM 990 TO VERIFY TAX-EXEMPT STATUS. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (12 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GREGORY A SMITH | ||||||||||||||
| CEO | 533588 | 0 | 159671 | 0 | 62670 | 0 | 33000 | 0 | 19223 | 0 | 808152 | 0 | 0 | 0 |
| SCOTT W RHOADS | ||||||||||||||
| CFO | 191332 | 0 | 22070 | 0 | 10496 | 0 | 36539 | 0 | 21948 | 0 | 282385 | 0 | 0 | 0 |
| RICHARD L LONG | ||||||||||||||
| VP | 219692 | 0 | 22598 | 0 | 10609 | 0 | 27530 | 0 | 19418 | 0 | 299847 | 0 | 0 | 0 |
| WILLIAM C ZYSK | ||||||||||||||
| VP | 213516 | 0 | 22820 | 0 | 10082 | 0 | 33333 | 0 | 17266 | 0 | 297017 | 0 | 0 | 0 |
| DAVID WARWAVESYN | ||||||||||||||
| VP | 207470 | 0 | 22804 | 0 | 9415 | 0 | 45393 | 0 | 20652 | 0 | 305734 | 0 | 0 | 0 |
| THOMAS J RUBACK | ||||||||||||||
| VP | 201177 | 0 | 22848 | 0 | 7237 | 0 | 34360 | 0 | 17197 | 0 | 282819 | 0 | 0 | 0 |
| BARBARA J BOWKER | ||||||||||||||
| VP | 196947 | 0 | 22834 | 0 | 9519 | 0 | 25519 | 0 | 19357 | 0 | 274176 | 0 | 0 | 0 |
| KIMBERLEY M FRANK | ||||||||||||||
| VP | 166593 | 0 | 15791 | 0 | 8556 | 0 | 28441 | 0 | 16883 | 0 | 236264 | 0 | 0 | 0 |
| FREDERICK F COFFROTH | ||||||||||||||
| VP | 169437 | 0 | 17639 | 0 | 9106 | 0 | 27911 | 0 | 19210 | 0 | 243303 | 0 | 0 | 0 |
| CATHERINE M TAMA-TROUTMAN | ||||||||||||||
| VP | 164471 | 0 | 15779 | 0 | 8598 | 0 | 27993 | 0 | 16572 | 0 | 233413 | 0 | 0 | 0 |
| SCOTT J DAVIS | ||||||||||||||
| AVP | 135407 | 0 | 10220 | 0 | 6723 | 0 | 16592 | 0 | 18918 | 0 | 187860 | 0 | 0 | 0 |
| JODI HARNER | ||||||||||||||
| AVP | 132032 | 0 | 10220 | 0 | 5655 | 0 | 16381 | 0 | 18892 | 0 | 183180 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART I,LINE 4(B) | Identifier |
| Explanation | GREGORY SMITH PARTICIPATED IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS, FOR WHICH EXPENSE OF $95,393 WAS INCURRED IN 2012. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART VI, QUESTION 6 | Identifier |
| Explanation | All PSECU members may exercise the right as an owner/member and vote in PSECU's annual election of the Board of Directors and Credit Committee members. PART VI, QUESTION 7A All PSECU members may exercise the right as an owner/member and vote in PSECU's annual election of the Board of Directors and Credit Committee members. PART VI, QUESTION 7B PSECU is a federally insured, state chartered credit union, the actions of which are subject to both state and federal regulators. As detailed in Title 17 of PA Consolidated Statutes, any fundamental corporate change is subject to membership vote. PART VI, QUESTION 11B THE FORM 990 IS PREPARED BY MANAGEMENT AND REVIEWED BY A THIRD PARTY ACCOUNTING FIRM. EACH DIRECTOR RECEIVES A COPY OF THE FORM 990 WHICH IS REVIEWED AT A BOARD MEETING HELD PRIOR TO THE FILING OF THE FORM 990. PART VI, QUESTION 12C ALL SENIOR MANAGEMENT AND DIRECTORS OF PSECU ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE WHICH MUST BE UPDATED ON AN ANNUAL BASIS. IN ADDITION, THESE INDIVIDUALS ARE RESPONSIBLE FOR NOTIFYING PSECU'S INTERNAL AUDIT SERVICES OF POTENTIAL OR ACTUAL CONFLICTS OF INTEREST AS THEY OCCUR. PART VI, QUESTION 15 PSECU'S BOARD OF DIRECTORS OVERSEES THE PRACTICES AND DESIGN OF PSECU'S EXECUTIVE COMPENSATION PROGRAM. THIS PROCESS CONSIDERS, BUT IS NOT LIMITED TO, AN ANNUAL BENCHMARKING REVIEW, EVALUATION OF EXECUTIVE PERFORMANCE, AND ASSESSMENT OF INCENTIVE COMPENSATION TO ENSURE THAT IT DOES NOT ENCOURAGE EXCESSIVE OR UNNECESSARY RISK TAKING. THE KEY COMPONENTS OF OUR EXECUTIVE COMPENSATION CONSIST OF BASE SALARY AND CASH INCENTIVES. THE INCENTIVES ARE LARGELY SET AROUND KEY PERFORMANCE OBJECTIVES SUCH AS ENSURING THE EFFICIENCY OF OPERATIONS, GROWTH IN MEMBERS AND LOANS, FINANCIAL SOUNDNESS, AND OTHER QUALITATIVE MEASURES. PART VI, QUESTION 19 PSECU MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMPANY'S WEBSITE. PART XI, LINE 9 ADDITIONAL PAID-IN CAPITAL $ 35,667 PENSION AND POST-RETIREMENT ADJUSTMENTS 13,922,005 ----------- TOTAL 13,957,672 | Explanation |