2011-11-04T14:34:05-05:00 2010-12-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2010-01-01 230961140 PENNSYLVANIA STATE EMPLOYEES CREDIT UNION PENN 7172348484 1 CREDIT UNION PLACE HARRISBURG PA 17110 Scott W Rhoads 2011-11-04 true 2673303000 2010 2016-03-07 17:11:31Z GREGORY A SMITH I CREDIT UNION PLACE HARRISBURG PA 17110 303964258 false X WWW.PSECU.COM X 1933 PA ATTACHMENT 1 9 9 767 1405473 60944 0 0 167405046 176575684 14759595 12990546 7088650 7742326 189253291 197308556 168606 150297 0 0 39519083 40720701 0 0 0 143371693 118355004 183059382 159226002 6193909 38082554 3566900906 3645703185 3286405251 3327507764 280495655 318195421 THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION ("PSECU") IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM, AT LEGITIMATE RATES OF INTEREST, FOR PROVIDENT PURPOSES. IN ACCOMPLISHING ITS PURPOSES, PSECU CONTINUALLY STRIVES TO MAINTAIN A PROGRESSIVE AND FINANCIALLY STABLE CREDIT UNION THAT GIVES PSECU MEMBERS CONTROL OVER THEIR FINANCES. PSECU ALSO PROVIDES MEMBERS WITH A VARIETY OF HIGH QUALITY TRADITIONAL AND INNOVATIVE FINANCIAL PRODUCTS AND SERVICES, WHICH ARE CONVENIENT, WITH SUPERIOR PRICING AND AVAILABLE THROUGH SELF-SERVICE DELIVERY CHANNELS. false false As of December 31, 2010, the Pennsylvania State Employees Credit Union has 374,396 members to whom it provides deposit and loan services. There were 274,618 loans with balances of $2,437,614,956 outstanding at December 31, 2010. Share deposits were $3,299,971,503. PSECU strives to provide its members with high quality, convenient financial products and services with superior pricing. false false false false false false true false true false false false true true false true false false false false false false false false false true false true false false false false false false false false false false true false false false false true 131 0 true 767 true true true false false false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X X CAROL NOBLIT 7177772049 1 CREDIT UNION PLACE HARRISBURG PA 17110 R BRIAN WILBUR 9.0 X 18617 0 0 GEORGE J WEST 9.0 X 18096 0 0 FRANK J BREINER 9.0 X 14296 0 0 KATHLEEN A SALMON 8.0 X 10856 0 0 JOSEPH A LAWRUK 8.0 X 10550 0 0 JOSEPH SASSANO 9.0 X 13181 0 0 JODI L BLANCH 8.0 X 9657 0 0 HOWARD ELLIS 8.0 X 10779 0 0 MICHAEL C FERSTER 8.0 X 11153 0 0 GREGORY A SMITH 38.0 X 704516 0 47906 SCOTT W RHOADS 38.0 X 221693 0 52866 RICHARD L LONG 38.0 X 244737 0 43629 WILLIAM C ZYSK 38.0 X 236080 0 46274 DAVID WARWAVESYN 38.0 X 231356 0 61100 THOMAS J RUBACK 38.0 X 217115 0 47485 BARBARA J BOWKER 38.0 X 212182 0 40139 KIMBERLEY M FRANK 38.0 X 179038 0 40561 FREDERICK F COFFROTH 38.0 X 184700 0 43262 CATHERINE M TAMA-TROUTMAN 38.0 X 175699 0 43128 SCOTT J DAVIS 38.0 X 141112 0 32796 MARY HAMMOND 38.0 X 138615 0 43847 3004028 0 542993 20 false true false BARLEY SNYDER LLC 126 E KING STREET LANCASTER PA 17602 COLLECTION SERVICES 528284 PRICEWATERHOUSECOOPERS LLP PO BOX 7247-8001 PHILADELPHIA PA 19170 AUDIT & TAX SERVICES 301500 PENNEBAKERS CLEANING 1609 CARLISLE ROAD CAMP HILL PA 17011 JANITORIAL SERVICES 254645 GARMAN SON MECHANICALS 3440 VALLEY ROAD MARYSVILLE PA 17053 MAINTENANCE SERVICES 227012 MCNEES WALLACE NURICK PO BOX 1166 HARRISBURGH PA 17108 LEGAL SERVICES 191851 9 0 INTEREST ON LOANS TO MEMBERS 522100 148500527 148500527 INTERCHANGE FEES 522100 18252958 18252958 ATM FEES 522200 6392361 5133096 1259265 CHECKING ACCOUNTS 522100 3429838 3429838 176575684 11450589 11450589 0 0 509642 386013 123629 123629 123629 107809646 106269689 1539957 1539957 1539957 0 0 0 OTHER INCOME 900099 7472489 7472489 ECU TECHNOLOGIES SALES 518210 146208 146208 7618697 197308556 182788908 1405473 13114175 150297 0 0 0 3547021 0 24116280 3035616 7782370 2239414 0 228371 357053 0 0 0 1564701 2693501 6653116 2520118 0 3268217 433548 0 0 42670011 0 3028039 878354 PROVISION FOR LOAN LOSSES 24142781 NCUA & CORP CU CHARGES 8344635 ATM EXPENSE 11141590 LOAN SERVICING EXPENSE 4256687 CHECK CARD PROGRAM EXPENSE 3580735 2593547 159226002 275740263 441947000 173796198 125304544 2418785043 2403479979 74951496 46053155 27449878 28898341 593016763 565950341 16305122 16305122 61807639 63817858 3566900906 3645703185 2051800 1435045 2759350 2908817 3281594101 3323163902 3286405251 3327507764 X 539227 568035 279956428 317627386 280495655 318195421 3566900906 3645703185 X 38082554 -382788 X false true true X false false true 5012957 5012957 34345268 15458124 18887144 724163 649397 74766 23767626 20738035 3029591 11101482 9207599 1893883 28898341 427891 MEMBERS' SHARES 3297062687 OTHER LIABILITIES 25673324 3323163902 197308556 159226002 38082554 151750 -534538 -382788 37699766 197308556 197308556 197308556 159226002 159226002 159226002 PART IV, LINE 2B ESCROW ACCOUNTS ARE HELD FOR MORTGAGE LOANS. PART X The Credit Union is subject to income tax on unrelated business income. Interest related to tax uncertainties is classified as income tax expense, which is included in other operating expenses on the Statements of Income. A reconciliation of the beginning and ending amount of tax liability is as follows: 2010 2009 Balance at beginning of year $952,000 $1,051,000 Decreases based on tax position related to prior years (534,000) (218,000) Increases based on tax position related to current year 10,000 119,000 ----------- ----------- Balance at end of year $428,000 $952,000 =========== =========== PART XI, LINE 8 Additional paid-in capital 28,807 Pension and post-retirement adjustments (563,345) ----------- (534,538) true AMERICAN HEART ASSOCIATION 7272 GREENVILLE AVENUE DALLAS TX 75231 135613797 501(c)(3) 34000 GENERAL DONATION CHILDREN'S MIRACLE NETWORK 4525 S 2300 EAST SALT LAKE CITY UT 84117 870387205 501(c)(3) 12000 GENERAL DONATION COMMONWEALTH PA-PA FARM SHOW 2300 N CAMERON ST HARRISBURG PA 17110 236003099 PA Commonwealth 10000 COMMUNITY EVENTS HARRISBURG CITY 10 N 2ND STREET HARRISBURG PA 17101 236002010 Harrisburg City 21000 COMMUNITY EVENTS HARRISBURG UNIVERSITY OF SCIENCE AND TECHNOLOGY 304 MARKET STREET HARRISBURG PA 17101 251900793 501(c)(3) 10000 GENERAL DONATION PA CREDIT UNION FOUNDATION 4309 NORTH FRONT ST HARRIBSURG PA 17106 251786339 501(c)(3) 11000 GENERAL DONATION YWCA OF GREATER HARRISBURG 1101 MARKET STREET HARRISBURG PA 17103 231370514 501(c)(3) 6000 GENERAL DONATION CENTRAL PA FOODBANK 3908 COREY RD HARRISBURG PA 17109 232202250 501(C)(3) 9144 GENERAL DONATION WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 396093210 501(c)(3) 10000 GENERAL DONATION Junior Achievement of South Central PA 610 S George St York PA 17403 231598129 501(c)(3) 5250 General Donation 10 PART 1, QUESTION 2 THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION PROVIDES CHARITABLE CONTRIBUTIONS TO QUALIFIED U.S. ORGANIZATIONS AFTER REVIEW OF THEIR FORM 990 TO VERIFY TAX-EXEMPT STATUS. X true true X X X X X false true false GREGORY A SMITH 487394 0 128221 0 88901 0 32500 0 15406 0 752422 0 0 0 SCOTT W RHOADS 184631 0 27178 0 9884 0 35792 0 17074 0 274559 0 0 0 RICHARD L LONG 207579 0 27178 0 9980 0 26548 0 17081 0 288366 0 0 0 WILLIAM C ZYSK 199435 0 27178 0 9467 0 31062 0 15212 0 282354 0 0 0 DAVID WARWAVESYN 193021 0 27178 0 11157 0 44035 0 17065 0 292456 0 0 0 THOMAS J RUBACK 186307 0 27178 0 3630 0 32345 0 15140 0 264600 0 0 0 BARBARA J BOWKER 182399 0 27178 0 2605 0 23079 0 17060 0 252321 0 0 0 KIMBERLEY M FRANK 153102 0 18462 0 7474 0 27008 0 13553 0 219599 0 0 0 FREDERICK F COFFROTH 158347 0 18462 0 7891 0 26279 0 16983 0 227962 0 0 0 CATHERINE M TAMA-TROUTMAN 150721 0 18462 0 6516 0 26369 0 16759 0 218827 0 0 0 SCOTT J DAVIS 122783 0 12462 0 5867 0 16016 0 16780 0 173908 0 0 0 MARY HAMMOND 123657 0 12462 0 2496 0 27051 0 16796 0 182462 0 0 0 PART I,LINE 4(B) GREGORY SMITH PARTICIPATED IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS, FOR WHICH EXPENSE OF $78,308 WAS INCURRED IN 2010. PART VI, QUESTION 6 All PSECU members may exercise the right as an owner/member and vote in PSECU's annual election of the Board of Directors and Credit Committee members. PART VI, QUESTION 7A All PSECU members may exercise the right as an owner/member and vote in PSECU's annual election of the Board of Directors and Credit Committee members. PART VI, QUESTION 7B PSECU is a federally insured, state chartered credit union, the actions of which are subject to both state and federal regulators. As detailed in Title 17 of PA Consolidated Statutes, any fundamental corporate change is subject to membership vote. PART VI, QUESTION 11a THE FORM 990 IS PREPARED BY MANAGEMENT AND REVIEWED BY A THIRD PARTY ACCOUNTING FIRM. EACH DIRECTOR RECEIVES A COPY OF THE FORM 990 WHICH IS REVIEWED AT A BOARD MEETING HELD PRIOR TO THE FILING OF THE FORM 990. PART VI, QUESTION 12C ALL SENIOR MANAGEMENT AND DIRECTORS OF PSECU ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE WHICH MUST BE UPDATED ON AN ANNUAL BASIS. IN ADDITION, THESE INDIVIDUALS ARE RESPONSIBLE FOR NOTIFYING PSECU'S INTERNAL AUDIT SERVICES OF POTENTIAL OR ACTUAL CONFLICTS OF INTEREST AS THEY OCCUR. PART VI, QUESTION 15 PSECU'S BOARD OF DIRECTORS OVERSEES THE PRACTICES AND DESIGN OF PSECU'S EXECUTIVE COMPENSATION PROGRAM. THIS PROCESS CONSIDERS, BUT IS NOT LIMITED TO, AN ANNUAL BENCHMARKING REVIEW, EVALUATION OF EXECUTIVE PERFORMANCE, AND ASSESSMENT OF INCENTIVE COMPENSATION TO ENSURE THAT IT DOES NOT ENCOURAGE EXCESSIVE OR UNNECESSARY RISK TAKING. THE KEY COMPONENTS OF OUR EXECUTIVE COMPENSATION CONSIST OF BASE SALARY AND CASH INCENTIVES. THE INCENTIVES ARE LARGELY SET AROUND KEY PERFORMANCE OBJECTIVES SUCH AS ENSURING THE EFFICIENCY OF OPERATIONS, GROWTH IN MEMBERS AND LOANS, FINANCIAL SOUNDNESS, AND OTHER QUALITATIVE MEASURES. PART VI, QUESTION 19 PSECU MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMPANY'S WEBSITE. PART XI, LINE 5 ADDITIONAL PAID-IN CAPITAL $ 28,807 PENSION AND POST-RETIREMENT ADJUSTMENTS (563,345) UNREALIZED GAINS ON INVESTMENTS 151,750 ---------- TOTAL $(382,788) ========== ECU TECHNOLOGIES LLC 1 CREDIT UNION PLACE HARRISBURG PA 17110 COMPUTER SVCS PA 144908 145742 NA