2012-08-13T10:36:29-05:00 2011-12-31 PADDEN GUERRINI & ASSOCIATESPC 3425 SIMPSON FERRY ROAD CAMP HILL PA 17011 990 2011-01-01 231445884 BELCO COMMUNITY CREDIT UNION BELC 8006424482 449 EISENHOWER BLVD HARRISBURG PA 17111 PAUL R PERINI III 8006424482 2012-08-09 true FREDERICK A TABOR CPA 7177631644 2012-08-13 2011 2016-02-24 21:20:13Z LONNY J MAURER 449 EISENHOWER BLVD HARRISBURG PA 17111 23884508 false X WWW.BELCO.ORG X 1939 PA BUILD TRUST, CREATE AND GROW RELATIONSHIPS AND PROVIDE GOLD STAR SERVICE. 9 9 200 14 123933 -4778 0 20708645 20543305 1461748 1130181 1260470 1285671 23430863 22959157 0 0 7008249 8326664 0 0 14822782 14293039 21831031 22619703 1599832 339454 335352544 372585630 305946592 343475685 29405952 29109945 X BUILD TRUST, CREATE AND GROW RELATIONSHIPS AND PROVIDE GOLD STAR SERVICE. false false PROVIDE LOANS TO 55,965 MEMBERS PROVIDE FINANCIAL SERVICES TO 55,965 MEMBERS. PROVIDE LOANS AND FINANCIAL SERVICES TO 55,965 MEMBERS. false false false false false false false false false true false false false true true true false false false false false false false false false false false false true false true false false false false false false false false false false false false false true 14110 0 true 200 true true true false false false false false X 9 9 false false true false true true true true true false false true true false false true true true true true false X PAUL R PERINI III 7177206200 449 EISENHOWER BLVD HARRISBURG PA 17111 RICHARD LYTLE 5.00 X 0 0 0 WILLIAM O'DONNELL 5.00 X 0 0 0 STEPHANIE MILLER 5.00 X 0 0 0 DONALD PERSON 5.00 X 0 0 0 LAVERN SHEARER 5.00 X 0 0 0 SAMUEL HUMMERT 5.00 X 0 0 0 TERRY HESSLER 5.00 X 0 0 0 SUZANNE HOFFER 5.00 X 0 0 0 CRAIG ERDMAN 5.00 X 0 0 0 LONNY MAURER 60.00 X 235855 0 523442 PAUL PERINI III 45.00 X 84825 0 29755 CHARLES DELMARCELLE 50.00 X 152200 0 251043 472880 804240 2 false true false JACK HENRY & ASSOCIATES INC 663 W HIGHWAY 60 PO BOX 807 MONETT MO 65708 DATA PROCESSING 1373470 AFTECHFISERV 455 SOUTH GULPH ROAD SUITE 201 KING OF PRUSSIA PA 19406 DATA PROCESSING 301300 QUALITY DIGITAL OFFICE TECH INC 75 UTLEY DRIVE SUITE 103 CAMP HILL PA 17011 OFFICE EQUIPMEN 217052 DIEBOLD INCORPORATED 5995 MAYFAIR ROAD PO BOX 3077 NORTH CANTON OH 44720 ATM/SECURITY 177836 MAPLE STREET INC PO BOX 915505 LONGWOOD FL 32791 CONTRACT MANAGE 151010 7 INTEREST INCOME 522100 15134141 15134141 FEE INCOME 522100 5344701 5344701 NON-MEMBER ATM INCOME 522200 64463 64463 20543305 1510393 1510393 1057193 1057193 1057193 1057193 545139 925351 -380212 -380212 -380212 MEMBERS FINANCIAL INCOME 169008 169008 MEMBER CONNECT 522100 59470 59470 228478 22959157 20647850 123933 2187374 873877 5619198 27772 1285096 520721 90090 92014 957990 1040975 266164 1009187 88929 200622 3171491 1450114 195745 PROVISION FOR LOAN LOSSES 1663116 PLASTIC CARD EXPENSE 1058407 NCUSIF INSURANCE 821708 LENDING EXPENSES 639678 1546809 22619703 0 0 0 4745070 5164139 17626284 13271380 904837 1037264 250000 300000 231007580 241522913 1230840 942230 37653508 11872669 25458199 25780839 31748416 63748437 12715443 12586893 9665875 8231535 335352544 372585630 1570789 2837763 304375803 340637922 305946592 343475685 X 29405952 29109945 29405952 29109945 335352544 372585630 339454 -635461 X false true true X false false false false false false false false false false false 5117906 5117906 21531213 3606032 17925181 313702 250849 62853 9235472 8015788 1219684 1455215 1455215 25780839 MEMBER SHARES AND SAVINGS ACCOUNTS 250381490 MEMBER CERTIFICATES OF DEPOSIT 87889751 ACCRUED DEFERRED COMPENSATION PLANS 2366681 340637922 22959157 22619703 339454 697928 -1333389 -635461 -296007 23847339 697928 190254 888182 22959157 22959157 24143346 1523643 1523643 22619703 22619703 LIABILITY UNDER FIN 48 FOOTNOTE SCHEDULE D, PAGE 3, PART X THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C) (14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATION. RECONCILIATION OF CHANGES - OTHER SCHEDULE D, PAGE 4, PART XI, LINE 8 EQUITY ACQUIRED IN BUSINESS COMBINATION 190,254 NET CHANGE IN UNREALIZED GAIN/LOSS ON PENSION LIABILITY -1,523,643 REVENUE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XII, LINE 2D EQUITY ACQUIRED IN BUSINESS COMBINATION 190,254 EXPENSE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XIII, LINE 2D NET CHANGE IN UNREALIZED GAIN/LOSS ON PENSION LIABILITY 1,523,643 X X X false true false LONNY MAURER 235855 507520 15922 759297 CHARLES DELMARCELLE 152200 234723 16320 403243 SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS SCHEDULE J, PAGE 1, PART I, LINE 4 LONNY MAURER 0 186,426 0 CHARLES DELMARCELLE 0 92,413 0 LONNY J MAURER FUND LIFE INSURANCE PREMIUMS X 50000 300000 false true true 300000 ALL OTHER ACCOMPLISHMENT DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4D PROVIDE LOANS AND FINANCIAL SERVICES TO 55,965 MEMBERS. SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS FORM 990, PAGE 6, PART VI, LINE 4 THE CREDIT UNION MADE THE FOLLOWING CHANGES TO ITS ARTICLES OF INCORPORATION. AMENDED ARTICLE IV, PART 2 TO READ: "RESOLVED, THAT BELCO COMMUNITY CREDIT UNION IS ORGANIZED AND OPERATES AS A NONPROFIT CORPORATION WITHIN THE DEFINITIONS OF A CREDIT UNION BY THE NATIONAL CREDIT UNION ADMINISTRATION (NCUA), THE FEDERAL CREDIT UNION ACT, AND THE PROVISIONS OF THE CREDIT UNIONS CODE OF THE COMMONWEALTH OF PENNSYLVANIA (PA. C.S., TITLE 17, 101 ET SEQ.)" CLASSES OF MEMBERS OR STOCKHOLDERS FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION IS OWNED BY ITS 55,965 MEMBERS. ELECTION OF MEMBERS AND THEIR RIGHTS FORM 990, PAGE 6, PART VI, LINE 7A THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS. EACH MEMBER HAS A SINGLE VOTE IN THE ELECTION OF MEMBERS TO THE CREDIT UNION'S BOARD OF DIRECTORS. DECISIONS SUBJECT TO APPROVAL OF MEMBERS FORM 990, PAGE 6, PART VI, LINE 7B THE CREDIT UNION'S MEMBERS MUST APPROVE: -THE MERGER OF THE CREDIT UNION. -THE DISSOLUTION OR CONVERSION OF THE CREDIT UNION. -CHANGES TO THE CREDIT UNION'S CHARTER, ARTICLES AND BYLAWS. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B THE CREDIT UNION'S BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE IS PROVIDED WITH A COPY OF THE FORM 990 AT A MONTHLY BOARD MEETING PRIOR TO THE FILING OF THE RETURN. THE MEETING IS ATTENDED BY THE CREDIT UNION'S SENIOR MANAGEMENT. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS IS RESPONSIBLE FOR SETTING CRITERIA FOR EVALUATING THE PERFORMANCE OF CEO AND COO. THE BOARD OF DIRECTORS USES 6 CRITERIA MEASURES: 1) SAFETY AND SOUNDNESS OF CU, 2) THOROUGH EVALUATION OF FULFILLMENT OF STRATEGIC PLAN, 3) CURRENT CREDIT UNION FINANCIAL REPORTS, 4) ADHERENCE TO APPROVED BUDGET, 5) BOARD/EXECUTIVE TEAM RELATIONSHIP AND 6) CURRENT C.A.M.E.L. SALARY BASES FOR THE CEO AND COO ARE BASED ON THE FOLLOWING SOURCES: THE CU USES AN INDEPENDENT NATIONAL PEER COMPARISON STUDY BY THE CREDIT UNION NATIONAL ASSOCIATION. THE COMPLETE SALARY SURVEY IS CALLED "CREDIT UNION STAFF SALARY SURVEY". A SECOND SURVEY IS ALSO USED FROM THE SAME SOURCE. HOWEVER, THIS SURVEY IS CUSTOMIZED TO THE GEOGRAPHIC AREA OF THE U.S. WHERE THE CU IS LOCATED. CRITERIA USED TO COMPLETE THE SURVEY IS AS FOLLOWS: SPECIFIC JOB TITLES AND POSITION DESCRIPTIONS, CREDIT UNION ASSET SIZE, NUMBER OF EMPLOYEES, FULL-TIME/PART-TIME EMPLOYEES, NUMBER OF SERVICES, NUMBER OF MEMBERS AND NUMBER OF BRANCHES. COMPARISON DATA INCLUDES AVERAGE WAGE FOR POSITION, 25 PERCENTILE WAGES, MEDIAN WAGES, AND 75 PERCENTILE WAGES. CU USES 75 PERCENTILE WAGES. THE DATA ALSO INCLUDES TRENDING OF BONUSES AND INCENTIVES PER POSITION. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B SALARY BASES FOR ALL EMPLOYEES EXCEPT FOR THE CEO AND COO ARE BASED ON THE FOLLOWING SOURCES: THE CU USES AN INDEPENDENT NATIONAL PEER COMPARISON STUDY BY THE CREDIT UNION NATIONAL ASSOCIATION. THE COMPLETE SALARY SURVEY IS CALLED "CREDIT UNION STAFF SALARY SURVEY". A SECOND SURVEY IS ALSO USED FROM THE SAME SOURCE. HOWEVER, THIS SURVEY IS CUSTOMIZED TO THE GEOGRAPHIC AREA OF THE U.S. WHERE THE CU IS LOCATED. CRITERIA USED TO COMPLETE THE SURVEY IS AS FOLLOWS: SPECIFIC JOB TITLES AND POSITION DESCRIPTIONS, CREDIT UNION ASSET SIZE, NUMBER OF EMPLOYEES, FULL-TIME/PART-TIME EMPLOYEES, NUMBER OF SERVICES, NUMBER OF MEMBERS AND NUMBER OF BRANCHES. COMPARISON DATA INCLUDES AVERAGE WAGE FOR POSITION, 25 PERCENTILE WAGES, MEDIAN WAGES, AND 75 PERCENTILE WAGES. CU USES 75 PERCENTILE WAGES. THE DATA ALSO INCLUDES TRENDING OF BONUSES AND INCENTIVES PER POSITION. THE ABOVE INFORMATION IS USED TO EVALUATE EACH POSITION WITHIN THE CREDIT UNION. THE AVP OF HR/TD MAKES RECOMMENDATIONS FOR ANY CHANGE IN SALARY IDENTIFIED THROUGH THE REVIEW. CEO AND COO GIVE FINAL APPROVAL FOR ANY CHANGES NEEDED. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF ALL BRANCHES ON A MONTHLY BASIS. QUARTERLY FINANCIAL STATEMENTS (CALL REPORTS) ARE AVAILABLE ON WWW.NCUA.GOV.