2012-10-29T10:35:02-05:00 2011-12-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2011-01-01 230961140 PENNSYLVANIA STATE EMPLOYEES CREDIT UNION % CAROL NOBLIT PENN 7172348484 1 CREDIT UNION PLACE HARRISBURG PA 17110 SCOTT RHOADS 2012-10-28 true 2673303000 2011 2016-02-24 21:20:13Z GREGORY A SMITH I CREDIT UNION PLACE HARRISBURG PA 17110 232579812 false X WWW.PSECU.COM X 1933 PA ATTACHMENT 1 9 9 740 1165564 -183676 0 0 176575684 176377957 12990546 9947669 7742326 7551593 197308556 193877219 150297 161309 0 0 40720701 41949511 0 0 0 118355004 110781270 159226002 152892090 38082554 40985129 3645703185 3827077115 3327507764 3476847561 318195421 350229554 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. false false As of December 31, 2011, the Pennsylvania State Employees Credit Union has 384,500 members to whom it provides deposit and loan services. There were 277,683 loans with balances of $2,593,062,563 outstanding at December 31, 2011. Share deposits were $3,443,779,196. PSECU strives to provide its members with high quality, convenient financial products and services with superior pricing. false false false false false false true false true false false false true true false true false false false false false false false false false true false true false false false false false false false false false false false true false false false false true 148 0 true 740 true true true false false false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X X CAROL NOBLIT 7177772049 1 CREDIT UNION PLACE HARRISBURG PA 17110 R BRIAN WILBUR 9.0 X 17842 0 0 GEORGE J WEST 9.0 X 18588 0 0 FRANK J BREINER 9.0 X 13175 0 0 KATHLEEN A SALMON 8.0 X 11450 0 0 JOSEPH A LAWRUK 8.0 X 10475 0 0 JOSEPH SASSANO 9.0 X 14301 0 0 JODI L BLANCH 8.0 X 12429 0 0 HOWARD ELLIS 8.0 X 12037 0 0 MICHAEL C FERSTER 8.0 X 12325 0 0 GREGORY A SMITH 37.5 X 710839 0 59839 SCOTT W RHOADS 37.5 X 219392 0 53978 RICHARD L LONG 37.5 X 242265 0 44831 WILLIAM C ZYSK 37.5 X 233441 0 48220 DAVID WARWAVESYN 37.5 X 229936 0 62466 THOMAS J RUBACK 37.5 X 221001 0 49045 BARBARA J BOWKER 37.5 X 211284 0 41589 KIMBERLEY M FRANK 37.5 X 178074 0 41462 FREDERICK F COFFROTH 37.5 X 184990 0 44246 CATHERINE M TAMA-TROUTMAN 37.5 X 170972 0 43489 SCOTT J DAVIS 37.5 X 145306 0 33787 MARY HAMMOND 37.5 X 139993 0 45098 3010115 0 568050 23 false true false BARLEY SNYDER LLC 126 E KING STREET LANCASTER PA 17602 COLLECTION SERVICES 687448 PENNEBAKERS CLEANING 1609 CARLISLE ROAD CAMP HILL PA 17011 JANITORIAL SERVICES 254954 MCNEES WALLACE NURICK PO BOX 1166 HARRISBURGH PA 17108 LEGAL SERVICES 213449 SODEXO AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 CAFETERIA SERVICES 202171 PRICEWATERHOUSECOOPERS LLP PO BOX 7247-8001 PHILADELPHIA PA 19170 AUDIT & TAX SERVICES 174620 11 0 INTEREST ON LOANS TO MEMBERS 522100 146923008 146923008 INTERCHANGE FEES 522100 19216428 19216428 ATM FEES 522200 7177109 6011545 1165564 CHECKING ACCOUNTS 522100 3061412 3061412 176377957 9749224 9749224 0 0 0 0 514782 404078 110704 110704 110704 38496960 38298515 198445 198445 198445 0 0 0 OTHER INCOME 900099 7440889 7440889 7440889 193877219 182653282 1165564 10058373 161309 0 0 0 3578165 0 24981082 3076123 7935864 2378277 0 60157 179731 0 0 0 2271295 3656946 6864499 2706993 0 3266369 544664 0 0 33821936 0 3253495 1035428 PROVISION FOR LOAN LOSSES 22291732 NCUA & CORP CU CHARGES 8262274 ATM EXPENSE 11444939 CHECK CARD PROGRAM EXPENSE 3879243 7241569 152892090 441947000 593562215 125304544 166419556 0 0 0 0 0 0 0 0 2403479979 2555957270 0 0 0 0 79872706 46936169 28898341 32936537 565950341 399429882 16305122 16057337 0 0 0 0 63817858 62714318 3645703185 3827077115 1435045 2624432 0 0 0 0 0 0 2908817 3350725 0 0 0 0 0 0 3323163902 3470872404 3327507764 3476847561 X 0 0 568035 600765 317627386 349628789 318195421 350229554 3645703185 3827077115 X 40985129 -8950996 X false true true X false false true 5191375 5191375 39294390 16462992 22831398 740866 704622 36244 22969766 19752463 3217303 11676309 10016092 1660217 32936537 0 FEDERAL INCOME TAXES 443364 MEMBERS' SHARES 3440428471 OTHER LIABILITIES 30000569 3470872404 193877219 152892090 40985129 -6049731 -2901265 -8950996 32034133 193877219 193877219 193877219 152892090 152892090 152892090 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: 2011 2010 Balance at beginning of year $428,000 $952,000 Decreases based on tax position related to prior years 0 (534,000) Increases based on tax position related to current year 15,000 10,000 ----------- ----------- Balance at end of year $443,000 $428,000 =========== =========== PART XI, LINE 8 Additional paid-in capital 32,730 Pension and post-retirement adjustments (2,933,995) ----------- (2,901,265) true AMERICAN HEART ASSOCIATION 7272 GREENVILLE AVENUE DALLAS TX 75231 135613797 501(c)(3) 30700 GENERAL DONATION CHILDREN'S MIRACLE NETWORK 4525 S 2300 EAST SALT LAKE CITY UT 84117 870387205 501(c)(3) 12000 GENERAL DONATION JEFFERSON AWARDS 100 W 10TH ST WILMINGTON DE 19801 520959336 501(C)(3) 9500 GENERAL DONATION HARRISBURG CITY 10 N 2ND STREET HARRISBURG PA 17101 236002010 Harrisburg City 20000 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) 12750 GENERAL DONATION YWCA OF GREATER HARRISBURG 1101 MARKET STREET HARRISBURG PA 17103 231370514 501(c)(3) 6650 GENERAL DONATION CENTRAL PA FOODBANK 3908 COREY RD HARRISBURG PA 17109 232202250 501(C)(3) 13880 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) 7000 General Donation 10 PART 1, QUESTION 2 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. X true true X X X X X false true false GREGORY A SMITH 512826 0 100342 0 97671 0 43334 0 16505 0 770678 0 0 0 SCOTT W RHOADS 190565 0 18682 0 10145 0 35615 0 18363 0 273370 0 0 0 RICHARD L LONG 213422 0 18682 0 10161 0 26442 0 18389 0 287096 0 0 0 WILLIAM C ZYSK 205068 0 18682 0 9691 0 31843 0 16377 0 281661 0 0 0 DAVID WARWAVESYN 199820 0 18682 0 11434 0 44079 0 18387 0 292402 0 0 0 THOMAS J RUBACK 192358 0 18682 0 9961 0 32739 0 16306 0 270046 0 0 0 BARBARA J BOWKER 188318 0 18682 0 4284 0 23241 0 18348 0 252873 0 0 0 KIMBERLEY M FRANK 157637 0 12766 0 7671 0 26913 0 14549 0 219536 0 0 0 FREDERICK F COFFROTH 163478 0 12766 0 8746 0 26035 0 18211 0 229236 0 0 0 CATHERINE M TAMA-TROUTMAN 155663 0 12766 0 2543 0 25582 0 17907 0 214461 0 0 0 SCOTT J DAVIS 130364 0 8618 0 6324 0 15849 0 17938 0 179093 0 0 0 MARY HAMMOND 127661 0 8618 0 3714 0 27141 0 17957 0 185091 0 0 0 PART I,LINE 4(B) GREGORY SMITH PARTICIPATED IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS, FOR WHICH EXPENSE OF $87,140 WAS INCURRED IN 2011. PART VI, QUESTION 6 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 11A 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 5 ADDITIONAL PAID-IN CAPITAL $ 32,730 PENSION AND POST-RETIREMENT ADJUSTMENTS (2,933,995) UNREALIZED GAINS ON INVESTMENTS (6,049,731) ---------- TOTAL $(8,950,996) =========== ECU TECHNOLOGIES LLC 1 CREDIT UNION PLACE HARRISBURG PA 17110 COMPUTER SVCS PA 0 0 NA