2012-11-15T13:54:52-06:00 2011-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2011-01-01 520627114 STATE EMPLOYEES CREDIT UNION OF MARYLAND INC STAT 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 STEVEN ARBAUGH 4104877328 2012-11-14 1 GERALD B KISSELL P00092658 6123324300 2011 2016-02-24 21:20:13Z STEVEN ARBAUGH 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 125328146 0 X WWW.SECUMD.ORG X 1951 MA TO MAKE A POSITIVE CONTRIBUTION TO THE FINANCIAL WELL-BEING OF THOSE WE SERVE. SECU MUST BE KNOWN, VALUED, AND UTILIZED. 10 10 642 74 862551 73058 0 0 114838530 114591262 13100507 10273190 357559 126851 128296596 124991303 39000 0 22961000 18012641 31760008 32135844 0 0 0 64117524 60328162 118877532 110476647 9419064 14514656 2092646927 2256091090 1891367348 2034524326 201279579 221566764 X TO PROVIDE OUR MEMBERS WITH LOAN AND DEPOSIT PRODUCTS AT COMPETITIVE RATES. 0 0 SECU PROVIDES DEPOSIT PRODUCTS AND SERVICES TO MEMBERS. THESE DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT AND INDIVIDUAL RETIREMENT ACCOUNTS. AS OF DECEMBER 31, 2011, SECU HAD 465,835 DEPOSIT ACCOUNTS OUTSTANDING. SECU'S DEPOSIT RATES CONTINUE TO BE SOME OF THE MOST COMPETITIVE RATES OFFERED BY FEDERALLY INSURED FINANCIAL INSTITUTIONS. SECU PROVIDES MORTGAGE AND CONSUMER LOANS TO MEMBERS AT COMPLETIVE RATES. THESE LOANS INCLUDE 1ST AND 2ND MORTGAGES, HOME EQUITY LINES OF CREDIT, CREDIT CARD, UNSECURED LINES OF CREDIT, NEW AND USED AUTO LOANS, STUDENT LOANS AND BUSINESS LOANS. AS OF DECEMBER 31, 2011, SECU HAD 112,819 LOANS OUTSTANDING TO MEMBERS TOTALING $1.635 BILLION. IN 2011 SECU PROVIDED ADULT AND YOUTH FINANCIAL EDUCATION SERVICES SUCH AS WORKING WITH SCHOOLS AND SELECT EMPLOYER GROUPS. SECU OFFERS ONLINE AND MOBILE BANKING SERVICES TO MEMBERS IN ADDITION TO 19 BRANCHES AND 95 AUTOMATED TELLER MACHINES. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 154938 0 1 642 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 STEVEN ARBAUGH 4104877328 971 CORPORATE BOULEVARD LINTHICUM MD 210902337 JOHN KENNEDY 1.00 X X 29060 0 0 DONALD TYNES 1.00 X X 24229 0 0 GAYLE SEWARD 1.00 X X 25361 0 0 JANET BACON 1.00 X X 22604 0 0 ELLEN GARDNER 1.00 X 21770 0 0 TIMOTHY LAVALLE 1.00 X 22169 0 0 MARK REGER 1.00 X 22115 0 0 JOHN LUBER 1.00 X 19304 0 0 JOHN DORSEY 1.00 X 27350 0 0 SHANE BONARDI 1.00 X 2500 0 0 RODNEY STAATZ 40.00 X 1110298 0 209154 STEVEN ARBAUGH 40.00 X 196747 0 27416 MICHAEL GORDY 40.00 X 258623 0 25062 HENRY MADERA 40.00 X 210613 0 26865 MARGARET TUCKER 40.00 X 181820 0 23787 RODERIC FLOWERS 40.00 X 169367 0 19224 MARGARET YOUNG 40.00 X 151127 0 23646 JAMES ATKINSON 40.00 X 209828 0 29397 JOSELI WRIGHT 40.00 X 140679 0 23049 KEVIN KESECKER 40.00 X 129210 0 8918 JANE SILVESTRI 40.00 X 138343 0 22267 RICHARD VIVOLA 40.00 X 130597 0 17572 3243714 0 456357 33 0 1 0 CAREFIRST BLUE CROSS BLUE SHIELD PO BOX 79749 BALTIMORE MD 21279 HEALTH INSURANCE 2794905 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM MAINTENANCE 2111356 LAW OFFICES OF BROWN & BROWN CHARTERED 8501 LASALLE RD STE 212 BALTIMORE MD 21286 LEGAL SERVICES 1403003 TARGET MEDIA INC 4750 LINDLE RD HARRISBURG PA 17111 MARKETING CAMPAIGNS 1095120 WORDCOMM INTELLIGENT TARGET MARKETING PO BOX 308 ELLINGTON CT 06029 MARKETING 956340 79 INTEREST ON LOANS 522100 84839761 84839761 SERVICE CHARGES INCOME 522100 23370396 22507845 862551 OTHER FEE INCOME 522100 5994344 5994344 EQUITY IN EARNINGS OF 522100 386761 386761 114591262 8900457 8900457 337820 336843 977 977 977 1372733 0 1372733 1372733 1372733 CUSO NON-INTEREST INCO 522100 125874 125874 125874 124991303 113854585 862551 10274167 18012641 2850212 22383051 1540171 3086904 2275506 203377 4297816 2985874 1374540 12401815 155973 341837 89777 6314887 981950 PROVISION FOR LOAN LOSS 12354318 NCUSIF PREMIUM 4819624 OFFICE SPACE RENTAL 2234065 POSTAGE/COURIER 1979936 9792373 110476647 32671125 42602609 1484208447 1614561077 84790424 43050865 43281655 41739559 502755981 526864862 3380501 3223436 26349218 27099547 2092646927 2256091090 9086530 11965876 3159775 3757107 1879121043 2018801343 1891367348 2034524326 X 0 0 0 0 201279579 221566764 201279579 221566764 2092646927 2256091090 X 14514656 5772529 X 0 1 1 X 0 0 1 10715577 10715577 26741866 7024944 19716922 8500389 5012350 3488039 38795215 31013571 7781644 37377 37377 41739559 AVAILABLE-FOR-SALE SECURITIES 475861178 F SECURITIES HELD-TO-MATURITY 31725189 F NATIONAL CREDIT UNION SHARE FUND DEPOSIT 19278495 F 526864862 SHARES AND DEPOSITS 2017202444 ACCRUED DIVIDENDS AND INTEREST PAYABLE 1598899 2018801343 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND REAL ESTATE TAXES ON BEHALF OF ITS MORTAGE LOAN MEMBERS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF FIN48. 1 SCHOLARSHIPS 12 41000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THERE IS A COMMITTEE WHO READS THE ESSAYS THAT ARE SUBMITTED BY THE CHILDREN OF MARYLAND STATE EMPLOYEES. THE WINNERS OF THE SCHOLARSHIPS ARE CHOSEN BY THE COMMITTEE. CHECKS ARE ISSUED DIRECTLY TO THE SCHOOL, REFERENCING THE STUDENT'S NAME. THERE IS NO ADDITIONAL MONITORING OF THE FUNDS. X X X X X 0 1 0 RODNEY STAATZ 470819 0 116195 0 523284 0 196307 0 12847 0 1319452 0 0 0 STEVEN ARBAUGH 170557 0 25290 0 900 0 16828 0 10588 0 224163 0 0 0 MICHAEL GORDY 224779 0 32594 0 1250 0 17041 0 8021 0 283685 0 0 0 HENRY MADERA 185982 0 24581 0 50 0 14775 0 12090 0 237478 0 0 0 MARGARET TUCKER 157835 0 23435 0 550 0 14914 0 8873 0 205607 0 0 0 RODERIC FLOWERS 146758 0 22409 0 200 0 13506 0 5718 0 188591 0 0 0 MARGARET YOUNG 131043 0 19834 0 250 0 13128 0 10518 0 174773 0 0 0 JAMES ATKINSON 8943 0 0 0 200885 0 16667 0 12730 0 239225 0 0 0 JOSELI WRIGHT 124651 0 15878 0 150 0 12560 0 10489 0 163728 0 0 0 JANE SILVESTRI 124403 0 13940 0 0 0 11783 0 10484 0 160610 0 0 0 PART I, LINE 4B RODNEY STAATZ, PRESIDENT/CEO, PARTICIPATES IN A NON-QUALIFIED RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS DURING 2011. 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 FORM 990 IS REVIEWED BY THE CFO AND CONTROLLER PRIOR TO FILING WITH THE IRS.A COPY WILL ALSO BE PROVIDE TO THE BOARD OR DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C SECU ADMINISTRATION AND INTERNAL AUDIT HANDLE THE CREATION AND MAILING OF THE ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES TO THE MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, CREDIT COMMITTEE, VPS AND OTHER KEY EMPLOYEES (AS DESIGNATED BY THE CEO). RESPONSES ARE MAILED DIRECTLY TO M&P IN PREPAID ENVELOPES FOR THEIR INDEPENDENT REVIEW AND RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 FOR VP LEVEL EMPLOYEES, THE PRESIDENT/CEO CONTROLS DECISIONS, WITH THE BOARD BEING INFORMED OF THE DECISION- BUT NOT FORMALLY INVOLVED. THE CEO USES EXTERNAL SOURCES FOR VP SALARY MARKET DATA. THE CEO REVIEWS THIS DATA AND SETS VP MARKET SALARIES IN CONJUNCTION WITH THE VP OF HR. ANNUALLY THE BOARD MEETS WITH A CREDIT UNION INDUSTRY CONSULTANT TO REVIEW THE CEO COMPENSATION PLAN. CEO COMPARISON DATA ALONG WITH PERFORMANCE IS USED TO DETERMINE SALARY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE ANNUAL MEETING AND UPON REQUEST OF OUR MEMBERS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET CHANGE IN UNAMORTIZED LOSSES - POST RETIREMENT HEALTH CARE PLAN -91,189. NET CHANGE IN UNREALIZED LOSSES - AVAILABLE-FOR-SALE SECURITIES 5,863,718. TOTAL TO FORM 990, PART XI, LINE 5: 5,772,529. SECURITY FINANCIAL GROUP 971 CORPORATE BOULEVARD LINTHICUM MD 21090 521804772 INSURANCE SALES MD STATE EMPLOYEES CREDIT UNION OF MARYLAND C 129103 550101 1.00000 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0