2011-11-14T18:29:47-06:00 2010-12-31 Moss Adams LLP 601 W Riverside Suite 1800 Spokane WA 992010629 990 2010-01-01 910863377 Numerica Credit Union NUME 5095357613 14610 E Sprague Avenue Spokane Valley WA 992162146 Cindy Leaver 5095357613 2011-11-11 1 Cheri R Burnham CPA 5097472600 2010 2016-03-07 17:11:31Z Cindy Leaver 14610 E Sprague Avenue Spokane Valley WA 992162146 65885996 0 1269 X www.numericacu.com X 1937 WA Credit union operated without profit for mutual purposes. 9 4 361 14 160800 -27611 0 0 56653394 58776475 6557768 6350615 195634 -16484 63406796 65110606 0 0 0 0 15371897 16791932 0 0 0 44786389 36968448 60158286 53760380 3248510 11350226 996400231 1063505200 911785024 968222838 84615207 95282362 X Credit Union operated without profit for mutual purposes. 1 0 Provide financial services to 86,552 members. These services include, but are not limited to, providing real estate and other secured/unsecured consumer loans, checking and savings programs, and credit card services. 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 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 29973 0 1 361 1 1 1 0 0 0 0 0 X 9 4 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 0 1 1 0 X Cindy Leaver 5095357613 14610 E Sprague Avenue Spokane Valley WA 99216 David Shriver 1.00 X X 0 0 6232 Joe Day 1.00 X X 0 0 7983 Marguerite Haverfield 1.00 X X 0 0 7568 Douglas Boseth 1.00 X 0 0 6210 Larry Lanning 1.00 X 0 0 12234 Rudy Mueller 1.00 X 0 0 13707 Gretchen Hoy 1.00 X 0 0 8254 Scott Clark 1.00 X 0 0 11113 Ron Hupp 1.00 X 0 0 3281 Dennis Cutter 40.00 X 317976 0 46847 Jennifer Lehn 40.00 X 184452 0 126083 Cindy Leaver 40.00 X 122089 0 18222 Mary Ronnfeldt 40.00 X 108621 0 18429 Eugene Fitzpatrick 40.00 X 119590 0 15972 Larry Shintani 40.00 X 133026 0 21896 Chris Hyde 40.00 X 94914 0 20538 Nancy Harter Norbury 40.00 X 134510 0 23296 Michelle Grabicki 40.00 X 93085 0 18648 Robert Helgesen 40.00 X 103356 0 6799 1411619 0 393312 8 0 1 0 MTR Communications 1705 S Maple Blvd Spokane WA 99203 Public Relations 626658 Jack Henry & Associates Inc PO Box 503328 St Louis MO 63150 Software Provider 541176 Eldon Ladd 2341 Snohomish Ave Richland WA 99354 Consulting 418883 InfoImage 141 Jefferson Dr Menlo Park CA 94025 Statement Processing 409561 PSCU Financial Services Inc 560 Carillon Parkway St Petersburg FL 33716 Home Banking/Gift Card Issuer 286410 18 Interest on Loans 522100 46480971 46480971 Fee Income 522100 12295504 12121810 173694 58776475 5910995 5910995 133728 146622 -12894 -12894 -12894 288924 779464 293091 335677 -4167 443787 439620 439620 Gain/Loss on BOLI 522100 -3590 -3590 -3590 65110606 58599191 160800 6350615 1595776 11462114 905284 1688941 1139817 7607 41204 240108 1260978 2396609 623743 1279504 213260 8580 18032348 1837945 251647 Provision for Loan Loss 6360638 NCUISF Expense 2185268 Loan Servicing/Collecti 1271444 CU Capital Impairment 431084 ATM/Visa Card Expenses 349640 176841 53760380 13303672 16704512 20804638 2138949 1303105 2988793 691216306 722904651 764966 805562 48814050 12796095 37039108 36017955 220373174 259588351 287429 11595262 22068998 996400231 1063505200 10538651 11132625 36210197 41552282 865036176 915537931 911785024 968222838 X 0 0 0 0 84615207 95282362 84615207 95282362 996400231 1063505200 X 11350226 -683071 X X 0 1 1 X 0 9530254 9530254 28866568 5014802 23851766 3387487 2687126 700361 7029741 5094167 1935574 36017955 Available for Sale Securities 244145886 F Held to Maturity Securities 3818316 C NCUSIF Deposit 8446049 C Federal Home Loan Bank Stock 2629100 C Other Investments 350000 C Certificates of Deposit 199000 C 259588351 Shares & Deposits 915537931 915537931 65110606 53760380 11350226 -883071 200000 -683071 10667155 65257228 146622 146622 65110606 0 65110606 53907002 146622 146622 53760380 0 53760380 Description of Uncertain Tax Positions Under FIN 48: Part X: The Credit Union is exempt by statute from federal income taxes under the provisions of Section 501 of the Internal Revenue Code of 1954; however, the Credit Unions unrelated business income and subsidiaries are subject to federal income taxes. There were no significant income taxes for the years ended December 31, 2010 and 2009. Accounting principles prescribe a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Credit Union adopted the provisions outlined in this guidance on January 1, 2009. The Credit Union had no unrecognized tax positions that would require adjustment to the January 1, 2009, beginning balance of undivided earnings. The Credit Union had no unrecognized tax positions at December 31, 2010. It is the Credit Unions policy to record any penalties or interest arising from federal or state taxes as a component of noninterest expense. The Credit Union files a federal exempt organization return and sales and use tax return with the state of Washington. With few exceptions, the Credit Union is no longer subject to U.S. federal or state and local income tax examinations by tax authorities for years before 2004. Part XI, Line 8 - Other Adjustments: Equity Acquired in Merger 200,000. Part XII, Line 2d - Other Adjustments: Unrelated Rental Expenses 146,622. Part XIII, Line 2d - Other Adjustments: Unrelated Rental Expenses 146,622. X X 1 1 X X X 0 0 0 Dennis Cutter 316335 0 0 0 1641 0 26950 0 19897 0 364823 0 0 0 Jennifer Lehn 182955 0 1200 0 297 0 119389 0 6694 0 310535 0 0 0 Larry Shintani 131731 0 779 0 516 0 14710 0 7186 0 154922 0 0 0 Nancy Harter Norbury 133034 0 1200 0 276 0 15644 0 7652 0 157806 0 0 0 Part I, Line 1a Health or social club dues/initiation fees are provided for executive management as a benefit. Their compensation is taxed appropriately for this benefit. Board members who have companions traveling have these expenses included for taxable purposes in their 1099-Misc. Mary Ronnfeldt Mortgage X 294400 273630 0 0 1 Mary Ronnfeldt Line of Credit X 25000 2462 0 0 1 Chris Hyde Mortgage X 124450 100399 0 0 1 Chris Hyde Auto X 25000 10304 0 0 1 Chris Hyde HELOC X 12599 8309 0 0 1 Jennifer Lehn Mortgage X 173000 168628 0 0 1 Jennifer Lehn HELOC X 60000 33448 0 0 1 Jennifer Lehn Auto X 14000 9983 0 0 1 Jennifer Lehn HELOC X 20000 17310 0 0 1 Nancy Norbury - Harter HELOC X 90000 74313 0 0 1 Larry Shintani Mortgage X 250000 229362 0 0 1 Larry Shintani Mortgage X 30000 14690 0 0 1 Larry Shintani Auto X 48466 43151 0 0 1 Cindy Leaver HELOC X 18000 14078 0 0 1 Cindy Leaver Auto X 18442 10377 0 0 1 Cindy Leaver Mortgage X 123000 122144 0 0 1 Dennis Cutter HELOC X 145238 122871 0 0 1 Jennifer Lehn Computer X 933 855 0 0 1 Cindy Leaver Computer X 2700 2224 0 0 1 Karla Hupp HELOC X 29114 21077 0 0 1 Karla Hupp Car Loan X 31319 3920 0 0 1 Karla Hupp Car Loan X 16423 5922 0 0 1 Douglas Boseth Mortgage X 67000 35770 0 0 1 David Shriver HELOC X 100199 171792 0 0 1 Scott Clark Mortgage X 114000 58381 0 0 1 Gretchen Hoy Mortgage X 184000 179184 0 0 1 Gretchen Hoy Mortgage X 387000 378129 0 0 1 Gretchen Hoy Mortgage X 106320 89784 0 0 1 Gretchen Hoy Mortgage X 140800 130949 0 0 1 Gretchen Hoy Mortgage X 163200 155226 0 0 1 Gretchen Hoy Mortgage X 172000 163351 0 0 1 Gretchen Hoy Mortgage X 174400 167061 0 0 1 Gretchen Hoy Mortgage X 176000 169709 0 0 1 2988793 New Program Services Form 990, Part III, line 2 On June 1, 2010, the Credit Union merged with, and acquired certain assets and assumed certain liabilities of SECU FCU, which was a federally-insured credit union, with the Credit Union continuing as the surviving entity. The transaction was approved by the Board of Directors of both institutions, by the commissioner of the Washington State Department of Financial Institutions, and by the NCUA. As a result, separate existence of SECU FCU ceased. The statement of income includes the impact of the acquisition of SECU from the acquisition date through December 31, 2010. Based upon the acquisition date preliminary fair value estimates of the net assets acquired, the Credit Union recorded goodwill of $83,493. In its assumption of the deposit liabilities, the Credit Union believed the customer relationships associated with these deposits had intangible value of $214,669. The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition: Total Assets $13,018,469 Total Liabilities $12,818,469 Total Members' Equity $200,000 Form 990, Part VI, Section A, line 6 Organization has one class of members. Form 990, Part VI, Section A, line 7a Organization's members may elect one or more members of the governing body. Form 990, Part VI, Section A, line 7b Organization's members approve decisions of the governing body. Form 990, Part VI, Section B, line 11 Form 990 is reviewed by Executive Management. Form 990, Part VI, Section B, line 12c There is an annual certification process where the code of ethics policy for volunteers is reviewed. Form 990, Part VI, Section B, line 15 The board reviews the CEO's contract annually and uses data from CUES (Credit Union Executive Society) to provide contemporaneous substantiation of the deliberation and decisions. All of the salary ranges for the entire organization are set based on salary surveys from Goodwin & Associates through a program called Compease. The surveys are of financial institutions of similar size and region. In addition, for the executive management team, we consult with CUES to determine where within the ranges the executives should be. This is considered along with their annual performance reviews. Form 990, Part VI, Section C, line 18 Available upon request. Form 990, Part VI, Section C, line 19 Available upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -883,071. Equity Acquired in Merger 200,000. Total to Form 990, Part XI, Line 5: -683,071. Form 990, Part XI, Line 2c: The Organization has a committee that is responsible for oversight of the audit and selection of independent auditors. There have been no changes to the process during the year. Numerica Member Services Inc PO Box 4000 Spokane Valley WA 99037 911320629 Financial Counseling Service WA Numerica Credit Union C 27814 454367 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 Numerica Member Services Inc A 79200 FMV