2011-12-13T10:16:56-06:00 2010-12-31 PADDEN GUERRINI & ASSOCIATESPC 3425 SIMPSON FERRY ROAD CAMP HILL PA 17011 990 2010-01-01 231343877 LANCASTER RED ROSE CREDIT UNION LANC 7172956685 1010 NEW HOLLAND AVENUE LANCASTER PA 17601 ROBERT J ERB 7172956685 2011-12-12 true FREDERICK A TABOR CPA 7177631644 2011-12-13 2010 2016-02-24 21:20:13Z ABBY R ACHEY 1010 NEW HOLLAND AVENUE LANCASTER PA 17601 3056651 false X WWW.LANCREDROSECU.ORG X 1948 PA THE CREDIT UNION IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF LOW COST CREDIT. 9 9 25 14 6775 -22200 0 1820586 2245986 1029825 797874 307526 12791 3157937 3056651 0 0 875513 926053 0 0 3036229 1934552 3911742 2860605 -753805 196046 51496309 57982125 46795067 52271550 4701242 5710575 X THE CREDIT UNION IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF LOW COST CREDIT. false false PROVIDE LOANS TO 6,606 MEMBERS. PROVIDE FINANCIAL SERVICES TO 6,606 MEMBERS. PROVIDE LOANS AND FINANCIAL SERVICES TO 6,606 CREDIT UNION MEMBERS. false false false false false false false false false true true false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 1703 0 true 25 true true true false false false false false X 9 9 false false false false false true true true true false false false true true true false true true true false X ROBERT J ERB 8009956685 1010 NEW HOLLAND AV LANCASTER PA 17601 C MICHAEL WETZEL 1.00 X 0 0 0 JAMES T O'BRIEN 1.00 X 0 0 0 CHARLENE KACHNOSKIE 1.00 X 0 0 0 ERNEST DOERSCHUK III 1.00 X 0 0 0 EDWARD R GARRITTY JR 1.00 X 0 0 0 MARY JANE NAGLE 1.00 X 0 0 0 ERIC J HEISER 1.00 X 0 0 0 LOIS M MURSE 1.00 X 0 0 0 RODERICK STRONG 1.00 X 0 0 0 AVRIL R ACHEY 40.00 X 80168 0 16047 ROBERT J ERB 40.00 X 75934 0 16490 156102 32537 false false false CERTEGY CARD SERVICES 3031 N ROCKY POINT DR WEST 750 TAMPA FL 33607 CARD PROCESSING 150603 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 DATA PROCESSING 148878 HIGHMARK HEALTH INSURANCECOMPANY PO BOX 535197 PITTSBURGH PA 15253 HEALTH INSURANC 120285 BURLE BUSINESS PARK LP 1004 NEW HOLLAND AVE LANCASTER PA 17601 OFFICE LEASING 108594 4 INTEREST INCOME - MEMBER LOAN 522100 1905368 1905368 PLASTIC CARD INCOME 522100 181367 181367 FEE INCOME 522100 152476 152476 NON-MEMBER ATM FEES 522200 6775 6775 2245986 797874 797874 MISC. OPERATING INCOME 522100 12791 12791 12791 3056651 2252002 6775 797874 188639 558579 7039 114527 57269 6562 26878 5682 63947 279011 174187 125086 12928 5674 732895 79475 34485 LENDING EXPENSES 231221 NCUSIF SHARE INSURANCE 71317 PROVISION FOR LOAN LOSS 43200 MISCELLANEOUS 42004 2860605 0 0 0 370040 412479 842232 2150510 164269 265222 27436503 32903101 79895 67519 1010015 488875 551072 521140 13972381 13361887 7610000 7764000 469917 536267 51496309 57982125 121184 138414 46673883 52133136 46795067 52271550 X 4701242 5710575 4701242 5710575 51496309 57982125 X 196046 813287 X false false false false false false false false false false false false false 671517 217748 453769 338498 271127 67371 521140 CERTIFICATES OF DEPOSIT 7764000 C 7764000 MEMBER SHARE AND SAVINGS ACCTS 34321486 MEMBER CERTICATES OF DEPOSIT 17811650 52133136 ALL OTHER ACHIEVEMENTS DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4D PROVIDE LOANS AND FINANCIAL SERVICES TO 6,606 CREDIT UNION MEMBERS. ELECTION OF MEMBERS AND THEIR RIGHTS FORM 990, PAGE 6, PART VI, LINE 7A EACH OF THE MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO CAST ONE VOTE IN THE ELECTION OF DIRECTORS TO THE BOARD OF DIRECTORS. DECISIONS SUBJECT TO APPROVAL OF MEMBERS FORM 990, PAGE 6, PART VI, LINE 7B THE CREDIT UNION'S VOTING MEMBERS HAVE VOTING INTEREST IN THE ELECTION OF BOARD MEMBERS AND THE APROVAL OF CONVERSION OF THE CREDIT UNION TO A DIFFERENT CHARTER. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B THE CREDIT UNION'S MANAGEMENT TEAM REVIEWS THE 990 PRIOR TO SUBMISSION. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C ANY CREDIT UNION EMPLOYEE, DIRECTOR, OFFICER, OR SPOUSE WHO IS ASSOCIATED WITH, OR HOLDS A 1,000.00 OR MORE OWNERSHIP INTEREST IN ANOTHER FINANCIAL INSTITUTION, TRADE ASSOCIATION OR RELATED BUSINESS SHALL FILE AN ANNUAL DISCLOSURE STATEMENT WITH THE BOARD CHAIRMAN WITHIN 30 DAYS OF JANUARY 1, THE START OF EMPLOYMENT, OR TAKING OFFICE. ANY APPARENT CONFLICT WILL BE RESOLVED BY THE BOARD AND THE INDIVIDUAL. WHEN MATTERS PERTAINING TO THE SPECIFIC PERSONAL INTEREST OF A BOARD MEMBER ARE DISCUSSED, THE AFFECTED BOARD MEMBER OR MEMBER SHALL NOT ENGAGE IN THE DISCUSSION NOR SHALL HE/SHE PARTICIPATE IN THE VOTE, AND THE MINUTES SHALL SO STATE. IF MORE THAN ONE BOARD MEMBER IS INVOLVED IN MATTERS INVOLVING A CONFLICT OF INTEREST AND A VOTE IS CALLED, THE NUMBER VOTING MUST EXCEED THE QUORUM REQUIREMENTS FOR THE MEETING OR UNANIMOUS ACTION IS REQUIRED OF THE VOTING BOARD MEMBERS. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS SETS THE SALARY FOR THE CEO. A SALARY SURVEY IS USED FROM CUNA. AN ANNUAL REVIEW IS COMPLETED AND RAISES GIVEN ON A MERIT / GOAL ACCOMPLISHED PROCESS. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B THE CEO SETS THE SALARY FOR SENIOR OFFICERS OTHER THAN THE CEO. A SALARY SURVEY FROM CUNA IS USED. AN ANNUAL REVIEW IS COMPLETED AND RAISES GIVEN ON A MERIT / GOAL ACCOMPLISHED PROCESS. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBY AND CALL REPORTS CONTAINING FINANCIAL INFORMATION ARE POSTED ON NCUA.GOV. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS INCLUDE THE FOLLOWING: 748,770 - EQUITY ACQUIRED THROUGH THE MERGER OF LANCASTER PA POLICE FCU ON JUNE 30, 2010 20,683 - PRIOR PERIOD ADJUSTMENT 43,342 - CHANGE IN MARKET VALUE OF AVAILABLE-FOR-SALE SECURITIES 492 - NEW MEMBER FEES