2011-07-15T13:35:28-05:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 060701899 MUTUAL SECURITY CREDIT UNION MUTU 2037612425 12 PROGRESS DRIVE SHELTON CT 06484 KAREN LEVASSEUR 2034027400 2011-07-15 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z X LARRY F HOLDERMAN 12 PROGRESS DRIVE SHELTON CT 06484 13969714 0 X N/A X 2001 CT THE MISSION OF MSCU IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS. 8 8 76 15 159695 -6752 0 0 13691415 13293528 740308 492260 91430 117641 14523153 13903429 7000 7000 4074377 2939424 4698732 4535118 0 0 0 6666131 6288502 15446240 13770044 -923087 133385 233640737 238775951 216451812 221453641 17188925 17322310 X THE MISSION OF MSCU IS TO PROMOTE THE ECONOMIC WELL BEING OF ITS MEMBERS BY PROVIDING A BROAD RANGE OF INNOVATIVE FINANCIAL PRODUCTS. THESE PROGRAMS WILL BE ADMINISTERED IN A PERSONALIZED ENVIRONMENT BY A PROFESSIONAL STAFF AND DEDICATED VOLUNTEERS. 1 0 MUTUAL SECURITY CREDIT UNION IS A COMMUNITY CREDIT UNION WITH A MEMBERSHIP BASE OF THOSE LIVING, WORKING, WORSHIPPING OR ATTENDING SCHOOL IN FAIRFIELD, LITCHFIELD OR NEW HAVEN COUNTIES. MEMBERSHIP ELIGIBILITY ALSO INCLUDES THOSE EMPLOYED OR THE RETIRED PENSIONERS/ANNUITANTS OF OUR 77 SELECT EMPLOYEE GROUPS. FAMILY MEMBERS OF OUR CURRENT CU MEMBERS ARE ALSO ELIGIBLE FOR MEMBERSHIP. AS OF 12/31/10 WE ARE SERVING 33,847 MEMBERS. MSCU OFFERS MEMBERS VARIOUS CONSUMER LOAN PRODUCTS - PERSONAL LOANS, AUTO LOANS, MORTGAGES (1ST, 2ND AND HOME EQUITY LOC) AS WELL AS VISA CREDIT CARD. MSCU OFFERS MEMBERS OUR VISA CHECK CARD OR OUR ATM CARD. MSCU OFFERS MEMBERS A FREE ONLINE BANKING SERVICE INCLUDING FREE ONLINE BILL PAYMENT PROCESSING. 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 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 10000 0 1 76 1 1 1 0 0 0 0 0 X 8 8 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X KAREN LEVASSEUR 2034027400 12 PROGRESS DRIVE SHELTON CT 06484 BRUCE M LIKELY 5.00 X X 0 0 0 ROBERT MARAGES 5.00 X X 0 0 0 DOROTHY W BOYD 5.00 X X 0 0 0 BRIGITTA P SMITH 5.00 X X 0 0 0 ROBERT J BASTA 5.00 X 0 0 0 LINDA SMITAS 5.00 X 0 0 0 HOWARD ADAMS 5.00 X 0 0 0 ARNOLD HAYDU 5.00 X 0 0 0 RONALD DREW 5.00 X 0 0 0 JACQUELIN DENNEHY 5.00 X 0 0 0 LARRY F HOLDERMAN 50.00 X 178839 0 40538 KAREN LEVASSEUR 50.00 X 99506 0 22886 278345 0 63424 1 0 1 0 FISERV 75 REMITTANCE DR CHICAGO IL 60675 COMPUTER SOFTWARE/HARDWARE MAINTENANCE 280134 ANTHEM BLUE CROSS BLUE SHIELD PO BOX 778 NORTH HAVEN CT 06473 MEDICAL INSURANCE FOR STAFF 229633 EMA CONSTRUCTION 615 LONGBROOK AVENUE STRATFORD CT 06614 NORWALK BRANCH FITUP 154035 AAA 110 ROYAL LITTLE DRIVE PROVIDENCE RI 02902 LENDING COMMISSION & GAP INSURANCE 141922 ADP 1 ADP PLAZA MILFORD CT 06461 PAYROLL SERVICES & HR 131886 6 INTEREST INCOME 522100 10523973 10523973 FEES AND CHARGES 522100 1637260 1477565 159695 VISA FEE INCOME 522100 899962 899962 MORTGAGE FEE INCOME 522100 232333 232333 13293528 558545 558545 66285 -66285 -66285 -66285 MISC. OPERATING INCOME 522100 117641 117641 117641 13903429 13251474 159695 492260 7000 2939424 341769 3145902 178655 576032 292760 198106 15118 63478 265456 521849 645839 649400 39686 826 229775 80128 PROVISION FOR LOAN LOSS 1307264 LOAN PROCESSING 860146 ATM/ACH/SHARE DRAFT/IRA 685359 NCUA PREMIUM 292294 MEMBER INSURANCE 268618 165160 13770044 14803798 12102057 16553074 19279025 191313170 196911822 236869 238233 4127241 1145402 3007030 2981839 4295436 3898446 3431360 3364529 233640737 238775951 1300702 1640827 631744 763315 214519366 219049499 216451812 221453641 X 0 0 0 0 17188925 17322310 17188925 17322310 233640737 238775951 133385 X X 0 1 1 X 0 0 1 1035139 1035139 2301505 525476 1776029 254552 552842 -298290 536045 67084 468961 2981839 SHARES ON DEPOSIT 217992439 OTHER LIABILITIES AND LOANS 1057060 219049499 PART IV, LINE 2B: MUTUAL SECURITY CREDIT UNION HOLDS FUNDS IN AN ESCROW LIABILITY ACCOUNT FOR PENSION ACCOUNT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT DID NOT COMPLETE A FIN 48 STUDY. 1 COLLEGE SCHOLARSHIPS-SEVEN @ $1000 7 7000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: EACH SCHOLARSHIP PAYMENT IS PAID BY CHECK PAYABLE TO THE RECIPIENT'S COLLEGE FOR THEIR TUITION. X X X 0 0 0 LARRY F HOLDERMAN 170848 0 0 0 7991 0 26031 0 14507 0 219377 0 0 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 IN 2010 MSCU BEGAN LENDING AT RETAIL OUTLETS (HOME IMPROVEMENT AND OTHER RETAIL STORES). FORM 990, PART VI, SECTION A, LINE 4 THE CREDIT UNION AMENDED ITS GOVERNING DOCUMENTS IN ORDER TO CHANGE THE NUMBER OF BOARD MEMBERS FROM 11 TO 9. 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, 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 THE CHAIRMAN, AND VICE-CHAIRMAN OR TREASURER OF THE BOARD OF DIRECTORS WILL REVIEW FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C EXTENSIONS OF CREDIT REQUIRES THE APPROVAL OF THE EXECUTIVE COMMITTEE, LOANS OVER $25,000 ARE REPORTED IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 SALARY AND JOB DESCRIPTION DATA IS OBTAINED FROM A CONSULTANT, HR VALUE GROUP, WHOSE DATA INCLUDES SALARY RANGES FROM THE CUNA SALARY SURVEY, CUES SURVEY, AND THE ECONOMIC RESEARCH INSTITUTE. CEO SALARY IS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC. GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICIES ARE NOT. FORM 990 PART XI, LINE 2C THE PROCESS USED TO OVERSEE THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE THE PREVIOUS YEAR. GODFREY TERRACE CONDO ASSOCIATION C/O MSCU PO BOX 2489 SHELTON CT 064841489 061269292 CONDO ASSOCIATION CT MUTUAL SECURITY CREDIT UNION C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NA