2023-10-17T16:11:01-05:00 2022-12-31 PWC US TAX LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2022-01-01 230961140 PENNSYLVANIA STATE EMPLOYEES CREDIT UNION % GINA SEIBERT PENN 8002377328 1500 ELMERTON AVENUE HARRISBURG PA 17110 GINA SEIBERT CFO 8002377328 2023-10-16 true GINA SEIBERT 999009999 ERIC M MCNEIL P00460263 2673303000 2 2022 2023-04-26 12:10:37Z GEORGE RUDOLPH 1500 ELMERTON AVENUE HARRISBURG PA 17110 357722024 false X WWW.PSECU.COM X 1933 PA SEE SCHEDULE O 9 9 1003 0 1062652 0 0 0 290897678 318891588 11904269 31708851 12589988 5964221 315391935 356564660 334667 388725 0 0 72990036 77635007 0 0 0 171890572 201218326 245215275 279242058 70176660 77322602 8187070454 8071110773 7429332507 7314575362 757737947 756535411 SEE SCHEDULE O false false AS OF DECEMBER 31, 2022, THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION HAD 561,376 MEMBERS TO WHOM IT PROVIDES DEPOSIT AND LOAN SERVICES. THERE WERE 387,970 LOANS WITH BALANCES OF $6,145,741,925 OUTSTANDING AT DECEMBER 31, 2022. SHARE DEPOSITS WERE $7,247,524,909. PSECU STRIVES TO PROVIDE ITS MEMBERS WITH HIGH QUALITY, CONVENIENT FINANCIAL PRODUCTS AND SERVICES WITH SUPERIOR PRICING. false false false false false false false true false true false false false true false true false false false false false false false false false false true false true false false false false false false false false false false false true false false false true 215 0 true 1003 true true true false false false false false true 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 GINA SEIBERT 7177772239 1500 ELMERTON AVENUE HARRISBURG PA 17110 GEORGE W RUDOLPH CEO 37.5 0.0 X 1095639 0 484997 GREGORY A SMITH FORMER OFFICER, CEO 0.0 0.0 X 1000000 0 75889 RICHARD L LONG CIO 37.5 0.0 X 418747 0 61354 BARBARA J BOWKER CHIEF MEMBER EXP OFFC. 37.5 0.0 X 413516 0 48369 FRANCIS J PUDNER ESQ CHIEF RISK OFF & GEN COUNSEL 37.5 0.0 X 385960 0 57068 SANDRA K HOLZGEN CHIEF HUMAN RESOURCE OFFICER 37.5 0.0 X 342173 0 56435 CAROLYN M NOBLIT CFO (END DATE 7/6/22) 37.5 0.0 X 328664 0 41204 HOMER RENTERIA CHIEF REVENUE & LENDING OFFICE 37.5 0.0 X 300926 0 59562 SCOTT J DAVIS VP, ENTERPRISE RISK MGMT 37.5 0.0 X 294955 0 61503 GINA M SEIBERT CFO 37.5 0.0 X 285150 0 49972 CLIFTON D VAN SCYOC VP OF TECHNOLOGY 37.5 0.0 X 248465 0 52749 GREGORY A MINNICH VP MEMBER EXP & ENGAGEMENT 37.5 0.0 X 248267 0 52848 JODI L HARNER AVP 37.5 0.0 X 248929 0 39622 FRANK A BRINER III AVP 37.5 0.0 X 214154 0 52976 THOMAS J RUBACK CCO (END DATE 1/1/22) 0.0 0.0 X 216181 0 21477 TIMOTHY D GRUNSTRA DIRECTOR 9.0 0.0 X 22705 0 0 SHAWN W WEIS DIRECTOR 9.0 0.0 X 20760 0 0 MATTHEW B WAGONER DIRECTOR 8.0 0.0 X 19700 0 0 LEANNA L MEISER DIRECTOR 8.0 0.0 X 19275 0 0 MICHAEL C FERSTER DIRECTOR 9.0 0.0 X 16925 0 0 JODI LYNNE BLANCH DIRECTOR 8.0 0.0 X 15920 0 0 JOSEPH SASSANO DIRECTOR 8.0 0.0 X 15360 0 0 NICHOLAS BARBERA DIRECTOR 8.0 0.0 X 15060 0 0 R BRIAN WILBUR DIRECTOR 8.0 0.0 X 15060 0 0 6202491 0 1216025 119 true true false AUTO APPROVE LLC 3932 RANCHERO DR ANN ARBOR MI 48108 FINANCIAL SERVICES 2973886 AVTEX SOLUTIONS LLC 3500 AMERICAN BLVD WEST STE 300 BLOOMINGTON MN 55431 HARDWARE/SOFTWARE SV 773896 ALM FIRST FINANCIAL ADVISORS LLC 3800 MAPLE AVE SUITE 600 DALLAS TX 75219 INVEST./FIN'L SVCS 628849 WELTMAN WEINBERG REIS WWR PO BOX 74106 CLEVELAND OH 441944106 LEGAL/COLLECTION SVC 623893 ALLIED UNIVERSALALLIED BARTON 161 WASHINGTON ST STE 600 CONSHOHOCKEN PA 194282083 SECURITY SERVICES 381953 16 0 INTEREST ON LOANS TO MEMBERS 522291 279262940 279262940 CREDIT CARD INTERCHANGE FEES 522100 30916536 30916536 ATM INCOME 522200 4639656 3941552 698104 CHECKING ACCOUNT FEES 522100 4072456 4072456 318891588 31674050 31674050 0 0 0 0 0 1192165 1157364 34801 34801 34801 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 5964221 5599673 364548 5964221 356564660 323827958 1062652 31674050 388725 0 0 0 4222037 0 52352027 5436701 11190118 4434124 0 198356 260742 0 0 0 6964596 13175949 7895075 13489517 0 4314242 490542 0 0 53116796 0 8864219 950942 PROVISION FOR LOAN LOSSES 46448940 LOAN SERVICING EXPENSE 13508932 ATM EXPENSE 11582110 CHECK CARD PROGRAM EXPENSE 10973951 8983417 279242058 934407282 524101220 44900933 50009930 0 0 0 0 0 0 0 0 5437266988 6087094031 0 0 0 0 149893380 74076317 82163409 75817063 1435228408 1170387255 133520438 47216523 0 0 0 0 119582996 116484751 8187070454 8071110773 45438983 56514031 0 0 0 0 0 0 15744060 16342567 0 0 0 0 0 0 7368149464 7241718764 7429332507 7314575362 X 0 0 692791 692791 757045156 755842620 757737947 756535411 8187070454 8071110773 X 77322602 -81485914 2960776 X false true X true false false true X 4442176 4442176 75667324 19209057 56458267 3029251 2609891 419360 34704352 29653067 5051285 32050277 22604302 9445975 75817063 0 MEMBERS' SHARES 7231182342 OTHER LIABILITIES 10536422 7241718764 356564660 356564660 356564660 279242058 279242058 279242058 PART IV, LINE 2B ESCROW ACCOUNTS ARE HELD FOR MORTGAGE LOANS. true AMERICAN HEART ASSOCIATION 7272 Greenville Avenue Dallas TX 75231 135613797 501(C)(3) 22500 GENERAL DONATION AMERICAN RED CROSS 804 North Sixth St Harrisburg PA 17102 530196605 501(C)(3) 50000 GENERAL DONATION LEADERSHIP HARRISBURG 3211 N FRONT ST HARRISBURG PA 17110 251583596 501(C)(3) 6500 GENERAL DONATION CHILDREN'S MIRACLE NETWORK 100 Academy Drive DANVILLE PA 17822 870387205 501(C)(3) 26000 GENERAL DONATION PENNSYLVANIA STATE UNIVERSITY 247 Chambers Bldg UNIVERSITY PARK PA 16802 246000376 501(C)(3) 33000 GENERAL DONATION FEEDING PENNSYLVANIA 939 EAST PARK DRIVE HARRISBURG PA 17111 454793238 501(C)(3) 42920 GENERAL DONATION AMERICAN CANCER SOCIETY PO Box 897 HERSHEY PA 17033 131788491 501(C)(3) 20000 GENERAL DONATION JUNIOR ACHIEVEMENT OF CENTRAL PA 610 S George St YORK PA 17401 231598129 501(C)(3) 40000 GENERAL DONATION PA BREAST CANCER COALITION 2397 QUENTIN RD LEBANON PA 17042 251722323 501(C)(3) 7500 GENERAL DONATION PA ENVIROTHON 702 West Pitt St Suite 3 BEDFORD PA 15522 251824095 501(C)(3) 40000 GENERAL DONATION YWCA of GREATER HARRISBURG 1101 Market Street HARRISburg PA 17103 231370514 501(C)(3) 14200 GENERAL DONATION 11 0 PART I, 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. false true false GEORGE W RUDOLPH CEO 704909 0 385477 0 5253 0 461970 0 23027 0 1580636 0 0 0 GREGORY A SMITH FORMER OFFICER, CEO 0 0 0 0 1000000 0 75889 0 0 0 1075889 0 1000000 0 RICHARD L LONG CIO 297984 0 102875 0 17888 0 34710 0 26644 0 480101 0 0 0 BARBARA J BOWKER CHIEF MEMBER EXP OFFC. 299413 0 102859 0 11244 0 34299 0 14070 0 461885 0 0 0 FRANCIS J PUDNER ESQ CHIEF RISK OFF & GEN COUNSEL 286703 0 96348 0 2909 0 33578 0 23490 0 443028 0 0 0 SANDRA K HOLZGEN CHIEF HUMAN RESOURCE OFFICER 247757 0 90101 0 4315 0 33584 0 22851 0 398608 0 0 0 CAROLYN M NOBLIT CFO (END DATE 7/6/22) 145285 0 95580 0 87799 0 33507 0 7697 0 369868 0 0 0 HOMER RENTERIA CHIEF REVENUE & LENDING OFFICE 249871 0 46281 0 4774 0 33241 0 26321 0 360488 0 0 0 SCOTT J DAVIS VP, ENTERPRISE RISK MGMT 219636 0 62443 0 12876 0 32901 0 28602 0 356458 0 0 0 GINA M SEIBERT CFO 234022 0 43390 0 7738 0 28586 0 21386 0 335122 0 0 0 JODI L HARNER AVP 195512 0 43390 0 10027 0 26531 0 13091 0 288551 0 0 0 CLIFTON D VAN SCYOC VP OF TECHNOLOGY 194434 0 44009 0 10022 0 27025 0 25724 0 301214 0 0 0 GREGORY A MINNICH VP MEMBER EXP & ENGAGEMENT 207825 0 37210 0 3232 0 28117 0 24731 0 301115 0 0 0 THOMAS J RUBACK CCO (END DATE 1/1/22) 5213 0 76764 0 134204 0 21477 0 0 0 237658 0 0 0 FRANK A BRINER III AVP 167879 0 38633 0 7642 0 23723 0 29253 0 267130 0 0 0 PART I, LINE 4(B) GEORGE W. RUDOLPH PARTICIPATED IN SUPPLEMENT NONQUALIFIED RETIREMENT PLANS FOR WHICH INCOME OF $428,420 WAS INCURRED IN 2022. GREGORY A. SMITH PARTICPATED SUPPLEMENT NONQUALIFIED RETIREMENT PLANS FOR WHICH INCOME OF $75,889 WAS INCURRED IN 2022. HE ALSO RECEIVED PAYMENTS FROM THE PLANS OF $1,000,000 WHICH IS INCLUDED IN PART II, COLUMN (B)(III). PART I, LINE 1 AND PART III, LINE 1 ORGANIZATION'S MISSION 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. 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 CREDIT UNION, THE ACTIONS OF WHICH ARE SUBJECT TO BOTH STATE AND FEDERAL REGULATIONS. AS DETAILED IN TITLE 17 OF PA CONSOLIDATED STATUTES, ANY FUNDAMENTAL CORPORATE CHANGE IS SUBJECT TO MEMBERSHIP VOTE. PART VI, QUESTION 11B THE FORM 990 IS PREPARED BY MANAGEMENT AND REVIEWED BY A THIRD PARTY ACCOUNTING FIRM. EACH DIRECTOR RECEIVED A COPY OF THE FORM 990 THROUGH THE BOARD PORTAL AND REVIEWS INDEPENDENTLY 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 EMPLOYEE RELATIONS WITHIN HUMAN RESOURCES OR THE PSECU ETHICS OFFICER 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 ON THE COMPANY'S WEBSITE. PART XI, LINE 9 OTHER CHANGES IN NET ASSETS CONSIST OF $2,960,776 OF PENSION AND POST-RETIREMENT BENEFIT ADJUSTMENTS. PSECU PROTECT LLC 1500 ELMERTON AVE HARRISBURG PA 171109214 230961140 CUSO PA 100806 661317 PSECU