2012-11-14T12:10:19-06:00 2011-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2011-01-01 520284053 MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC MUNI 4107528313 7 E REDWOOD STREET BALTIMORE MD 21202 NATALIE J WOOMER 4107528313 2012-11-13 1 GERALD B KISSELL P00092658 6123324300 2011 2016-02-24 21:20:13Z BERT J HASH JR 7 E REDWOOD STREET BALTIMORE MD 21202 187690706 0 X WWW.MECU.COM X 1936 MD TO PROVIDE MEMBERS WITH HIGH QUALITY FINANCIAL SERVICES THROUGH SOUND MANAGEMENT AND INNOVATION. 12 12 338 0 329864 55185 0 0 58270286 58624503 11135527 9632792 0 0 69405813 68257295 0 0 17660202 15614879 19311863 20338571 0 0 0 26524110 30176365 63496175 66129815 5909638 2127480 1080871991 1124196951 967887646 1004763273 112984345 119433678 X TO PROVIDE MEMBERS WITH HIGH QUALITY FINANCIAL SERVICES THROUGH SOUND MANAGEMENT AND INNOVATION. 0 0 MECU MAKES A VARIETY OF TYPES OF LOANS TO ITS MEMBERS INCLUDING MORTGAGE, HOME EQUITY, VEHICLE, CREDIT CARD AND UNSECURED LOANS AT VERY COMPETITIVE INTEREST RATES. THERE WERE 49,207 OUTSTANDING LOANS AT 12/31/11. IN 2011, MECU REFUNDED OVER $2 MILLION OF THE INTEREST THAT ITS MEMBERS PAID ON LOANS DURING THE YEAR. IT WAS THE 30TH CONSECUTIVE YEAR THAT MECU HAS RETURNED MONEY TO ITS MEMBERS IN THE FORM OF A LOAN INTEREST REBATE. MECU PROVIDES ITS 98,663 MEMBERS WITH THE MEANS TO SAVE MONEY. MECU OFFERS SHARE SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, IRA, EDUCATIONAL SAVINGS AND MONEY MARKET ACCOUNTS. IN ADDITION TO PAYING VERY COMPETITIVE DIVIDEND AND INTEREST RATES ON ITS SAVINGS PRODUCTS, MECU HAS ALSO PAID AN EXTRAORDINARY DIVIDEND TO ITS MEMBERS FOR THE LAST 30 CONSECUTIVE YEARS. MECU PAID $1.96 MILLION IN EXTRAORDINARY DIVIDENDS TO ITS MEMBERS IN 2011. IN 2011, MECU WON THE LOUISE HERRING PHILOSOPHY IN ACTION AWARD, THE DORA MAXWELL AWARD FOR SOCIAL RESPONSIBILITY AND THE DESJARDINS AWARD FOR YOUTH FINANCIAL LITERACY FROM THE MARYLAND DC CREDIT UNION ASSOCIATION. MECU STRIVES TO OFFER PRODUCTS AND SERVICES DESIGNED TO IMPROVE THE ECONOMIC AND SOCIAL WELL BEING OF ALL MEMBERS FROM ALL SOCIAL-ECONOMIC BACKGROUNDS. MECU'S FIELD OF MEMBERSHIP DRAWS FROM BALTIMORE CITY, AN AREA THAT QUALIFIES AS AN UNDERSERVED/INVESTMENT AREA AS DEFINED BY THE NCUA. MECU IS ALSO COMMITTED TO MEMBER FINANCIAL EDUCATION. SOME OF THE PROGRAMS THAT MECU PROVIDES INCLUDE: DISCOUNTED MORTGAGE RATES THROUGH 1ST TIME HOMEBUYER'S PROGRAMS AND BUY IN BALTIMORE LOANS, HOME BUYERS' WORKSHOPS, CREDIT REPAIR WORKSHOPS, BASICS OF MONEY MANAGEMENT; NEW EMPLOYEE AND PRE-RETIREMENT WORKSHOPS AND FREE CREDIT COUNSELING SERVICES THROUGH ACCEL, A GREENPATH, INC. AFFILIATE. MECU ALSO HAS A STUDENT-RUN BRANCH AT A HIGH SCHOOL. MECU ACTIVELY PARTICIPATES IN COMMUNITY OUTREACH PROJECTS. SOME OF THE PROGRAMS THAT MECU PARTICIPATED IN DURING 2011 WERE HABITAT FOR HUMANITY, JUNIOR ACHIEVEMENT, MEALS ON WHEELS, PARTNERSHIPS WITH NINE ELEMENTARY SCHOOLS, ADOPTING FAMILIES FOR THE HOLIDAYS, SALVATION ARMY ANGEL TREE, MARYLAND PUBLIC TELEVISION TELETHON, CREDIT UNIONS FOR KIDS, DONATED OVER 6,900 BOOKS TO BALTIMORE CITY SCHOOL CHILDREN, THREW A PARTY FOR THE RESIDENTS AT A NURSING HOME, HELD A BLOOD DRIVE AND FED PEOPLE IN NEED AT OUR DAILY BREAD AND SEVERAL MISSIONS. MECU ALSO WALKED IN THE ADA AND CYSTIC FIBROSIS WALK-A-THONS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 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 41513 0 1 338 1 1 1 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X NATALIE J WOOMER 4107528313 7 E REDWOOD STREET BALTIMORE MD 21202 HERMAN WILLIAMS JR 2.00 X X 16350 0 1000 ERNEST GLINKA 1.40 X X 18550 0 1000 GARY MCLHINNEY 1.00 X X 14750 0 1000 BERT HASH JR 50.00 X X 526855 0 237831 LORRETTA JOHNSON 0.70 X 7550 0 1000 JOHN WALKER III 1.00 X 10550 0 1000 G LOUISE GREEN 0.90 X 9350 0 1000 CHARMAINE THOMAS 1.10 X 10950 0 1000 A SOULA LAMBROPOULOS 1.10 X 11750 0 1000 BENJAMIN MELI JR 1.40 X 14150 0 1000 KALIOPE PARTHEMOS 0.20 X 2400 0 1000 PEGGY PEACOCK 0.90 X 9750 0 1000 ROMAN CLARK SR 1.40 X 14350 0 1000 ANDREW FRANK 0.40 X 4150 0 0 ADRIAN JOHNSON 45.00 X 166475 0 27337 ANDREW PATAKI 45.00 X 296904 0 75994 GARY MARTIN 45.00 X 171374 0 45287 NATALIE WOOMER 45.00 X 133537 0 26464 FRANK RICHTER JR 45.00 X 129307 0 39535 ALAN GRIFFITHS 45.00 X 143429 0 46103 PATRICIA ROBERTS 45.00 X 132692 0 39602 LAURIE RUSH 45.00 X 125143 0 12800 1970316 0 562953 15 0 1 0 PSCU FINANCIAL SERVICES 560 CARILLON PARKWAY ST PETERSBERG FL 33716 CREDIT AND DEBIT CARD PROCESSOR 2062603 CAREFIRST BLUE CROSS BLUE SHIELD PO BOX 79749 BALTIMORE MD 21279 HEALTH INSURANCE 1976776 FIDELITY NATIONAL INFORMATION SERVICES PO BOX 4535 CAROL STREAM IL 60197 DATA PROCESSOR 1406337 FISERV 75 REMITTANCE DRIVE SUITE 6962 CHICAGO IL 60675 DATA PROCESSOR 968510 STAR NETWORK 401 WEST A STREET SUITE 600 SAN DIEGO CA 92101 ATM NETWORK 776009 16 INTEREST ON LOANS TO M 522100 43200936 43200936 SERVICE CHARGES AND OT 522100 9699526 9527225 172301 OTHER NONINTEREST INCO 522100 5724041 5566478 157563 58624503 8136032 8136032 120930171 119433411 1496760 1496760 1496760 68257295 58294639 329864 9632792 15614879 1704657 12434000 2169431 2946066 1084417 197725 39000 426599 1673122 2186608 1717088 1900379 505031 1601027 1316493 219835 PROVISION FOR LOAN LOSS 7507950 LOAN SERVICING EXPENSE 2950117 ATM/DEBIT CARD EXPENSE 2682605 TEMPORARY CORPORATE CU 2195727 3057059 66129815 13207132 17174629 7079414 12301481 620827425 637331800 14833435 10880505 4529438 3952930 389902071 398261774 45326511 55174337 1080871991 1124196951 13897360 14693921 66198 953990286 990003154 967887646 1004763273 X 0 0 0 0 112984345 119433678 112984345 119433678 1080871991 1124196951 X 2127480 4321853 X 0 1 1 X 0 0 0 314800 68711 246089 5097224 3387941 1709283 9421411 7423853 1997558 3952930 AVAILABLE FOR SALE SECURITIES 335385608 F HELD-TO-MATURITY 62876166 C 398261774 MEMBERS' SHARES AND SAVINGS 922919820 BORROWED FUNDS 67083334 990003154 68257295 66129815 2127480 4321853 4321853 6449333 68257295 0 68257295 0 68257295 66129815 0 66129815 0 66129815 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF FIN48. PART XI, LINE 8 - OTHER ADJUSTMENTS: RECLASSIFICATION ADJUSTMENT FOR REALIZED GAINS ON INVESTMENT -1,496,760. UNREALIZED HOLDING GAINS ON INVESTMENTS CLASSIFIED AS AVAILABLE-FOR-SALE 5,818,613. TOTAL TO SCHEDULE D, PART XI, LINE 8: 4,321,853. X X X X 1 1 0 BERT HASH JR 466531 0 50000 0 10324 0 223262 0 14569 0 764686 0 0 0 ADRIAN JOHNSON 157596 0 7000 0 1879 0 18173 0 9164 0 193812 0 0 0 ANDREW PATAKI 268850 0 20000 0 8054 0 62875 0 13119 0 372898 0 0 0 GARY MARTIN 162475 0 7000 0 1899 0 43879 0 1408 0 216661 0 0 0 NATALIE WOOMER 125052 0 7000 0 1485 0 20562 0 5902 0 160001 0 0 0 FRANK RICHTER JR 122307 0 7000 0 0 0 24025 0 15510 0 168842 0 0 0 ALAN GRIFFITHS 134817 0 7000 0 1612 0 33957 0 12146 0 189532 0 0 0 PATRICIA ROBERTS 124193 0 7000 0 1499 0 29427 0 10175 0 172294 0 0 0 PART I, LINES 4A-B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN: BERT HASH, JR. ANDREW PATAKI ADRIAN JOHNSON NATALIE WOOMER GARY MARTIN FRANK RICHTER ALAN GRIFFITHS PATRICIA ROBERTS ANDREW FRANK RECEIVED A $600 SEVERANCE PAYMENT. 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 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 MECU'S VP AND CONTROLLER, NATALIE WOOMER, REVIEWS FORM 990 THOROUGHLY, PRIOR TO FILING WITH THE IRS. A COPY WILL ALSO BE GIVEN TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST AND CODE OF CONDUCT POLICY IS GIVEN TO EVERY EMPLOYEE AND SUPERVISORY COMMITTEE, CREDIT COMMITTEE AND BOARD MEMBER ANNUALLY. THIS FORM EXPLAINS WHAT CONSTITUTES A CONFLICT OF INTEREST AND EACH PERSON MUST SIGN TO SAY THAT THEY HAVE READ THE POLICY. EACH PERSON ALSO HAS TO COMPLETE A DISCLOSURE STATEMENT THAT IS A SERIES OF QUESTIONS WHICH MECU USES TO DETERMINE IF THERE ARE ANY CONFLICTS OF INTEREST. THE EMPLOYEE IS REQUIRED TO DISCLOSE ALL CONFLICTS ON THIS FORM. MECU'S HR DEPARTMENT VERIFIES THAT EVERYONE COMPLETES THESE FORMS AND REVIEWS THEM TO DETERMINE IF THERE ARE ANY CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 MECU SUBSCRIBES TO TWO SALARY RESEARCH BOOKS - THE CREDIT UNION EXECUTIVE SOCIETY (CUES) SALARY SURVEY AND THE CREDIT UNION NATIONAL ASSOCIATION (CUNA) STAFF SALARY SURVEY. OFFICERS' AND KEY EMPLOYEES' COMPENSATION FALLS WITHIN THE RANGES OF THESE SURVEYS. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS, CONFLICT OF INTERESTS POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS ARE POSTED ON MECU'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: RECLASSIFICATION ADJUSTMENT FOR REALIZED GAINS ON INVESTMENT -1,496,760. UNREALIZED HOLDING GAINS ON INVESTMENTS CLASSIFIED AS AVAILABLE-FOR-SALE 5,818,613. TOTAL TO FORM 990, PART XI, LINE 5: 4,321,853. MECU FOUNDATION 7 EAST REDWOOD STREET BALTIMORE MD 21202 261113703 CHARITABLE FOUNDATION MD 501(C)3 PUBLIC MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0