TY 2015 Form 990

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(1) MR RICHARD DOUGLAS......................................................................
CHAIRMAN

1.00
.................

(2) MR BARRY COX......................................................................
SECRETARY

1.00
.................

(3) MR KEN KOERNER......................................................................
TREASURER

1.00
.................

(4) MS MELISSA WOESSNER......................................................................
MEMBER

1.00
.................

(5) MR JEFFREY HIPPEN......................................................................
MEMBER

1.00
.................

(6) MR ROBERT BROWN......................................................................
MEMBER

1.00
.................

(7) MS CINDY VONHOLTEN......................................................................
MEMBER

1.00
.................

(8) MR TIM MORGAN......................................................................
VICE CHAIRMAN

1.00
.................

(9) MS SUSAN BRANCH......................................................................
CEO

40.00
.................

68,643

10,508

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(A)
Name and business address

(B)
Description of services

BRADFORD-SCOTT DATA CORPORATION

99465 COUNSELORS ROW SUITE 200
INDIANAPOLIS,IN46240

IT SERVICES

125,799

Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ...	2d


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......	1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................	2e
3	Subtract line 2e from line 1..................	3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................	4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......	5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........	1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................	2e
3	Subtract line 2e from line 1...................	3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.....................	4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......	5

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2015

Open to Public
Inspection

Name of the organization

SELECT EMPLOYEES CREDIT UNION

Employer identification number

36-2440414

Return Reference	Explanation
FORM 990, PART IV, LINE 12A	THE ORGANIZATION DOES RECEIVE AUDITED FINANCIAL STATEMENTS, HOWEVER THE AUDIT IS PREPARED USING THE NUMBERS FROM 7/1 - 6/30 (FISCAL YEAR BASIS), WHEREAS THE TAX RETURN IS PREPARED USING NUMBERS FROM 1/1 - 12/31 (CALENDAR YEAR BASIS).
FORM 990, PART VI, SECTION A, LINE 6	THE ORGANIZATION IS COMPRISED OF MEMBERS, MOST OF WHOM ARE EMPLOYEES OR RETIRED EMPLOYEES OF SEVERAL LOCAL EMPLOYEE GROUPS WITHIN THE STERLING - ROCK FALLS, ILLINOIS AREA. THE MEMBERS ELECT THE GOVERNING BODY (THE BOARD OF DIRECTORS). THE BOARD OF DIRECTORS IS CHARGED WITH AND HAVE CONTROL OVER THE GENERAL MANAGEMENT OF THE OPERATIONS, FUNDS, AND RECORDS OF THE CREDIT UNION PURSUANT TO PROVISIONS OUTLINED IN THE ILLINOIS CREDIT UNION ACT AND THE DEPARTMENT'S RULES AND REGULATIONS. THE MEMBERS MAY RECEIVE FROM TIME TO TIME A SHARE OF THE ORGANIZATION'S PROFITS OR EXCESS DUES OR A SHARE OF THE ORGANIZATION'S NET ASSETS UPON THE ORGANIZATION'S DISSOLUTION.
FORM 990, PART VI, SECTION A, LINE 7A	THE BOARD OF DIRECTORS IS ELECTED DURING THE ANNUAL MEETING OF THE MEMBERS. THERE ARE EIGHT DIRECTORS. FIFTEEN MEMBERS MUST BE PRESENT AT THE TIME OF THE MEETING IN ORDER TO ELECT THE BOARD. EVERY MEMBER HAS THE RIGHT TO VOTE FOR AS MANY PERSONS AS THERE ARE DIRECTORS TO BE ELECTED, OR TO CUMULATE THEIR VOTES AND GIVE ONE CANDIDATE AS MANY VOTES AS THE NUMBER OF DIRECTORS; OR DISTRIBUTE THEIR VOTES ON THE SAME PRINCIPLE AMONG AS MANY CANDIDATES AS HE/SHE DESIRES. A SOCIETY, ASSOCIATION, CLUB, OR PARTNERSHIP HAVING MEMBERSHIP IN THE CREDIT UNION SHALL BE ENTITLED TO CAST ONLY ONE VOTE REGARDLESS OF THE NUMBER OF SHARES OWNED.
FORM 990, PART VI, SECTION B, LINE 11	THE ORGANIZATION'S CEO REVIEWS THE 990 THEN MAKES COPIES AVAILABLE TO ALL MEMBERS OF THE BOARD BEFORE SIGNING IT AND SUBMITTING IT TO THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST, EVERY INSIDER IS TO PROVIDE AN ANNUAL STATEMENT OUTLINING SPECIFIC RELATIONS AND SITUATIONS. ALSO, ALL NEW HIRES WILL COMPLETE PRIOR TO EMPLOYMENT AND ALL NEW VENDORS (IF DEEMED NECESSARY BY MANAGEMENT) PRIOR TO INITIAL PURCHASE OF CONTRACT. THE PRESIDENT WILL BE RESPONSIBLE FOR ALL DIRECTORS, COMMITTEE MEMBERS AND VENDORS. THE BOARD TREASURER WILL OBTAIN ALL EMPLOYEE STATEMENTS.
FORM 990, PART VI, SECTION C, LINE 19	DOCUMENTS ARE PROVIDED UPON REQUEST

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2015

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	8
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	8
5	Total number of individuals employed in calendar year 2015 (Part V, line 2a) ......	5	15
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	9,055
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b	949

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	1,107,021	1,598,963
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	33,230	53,525
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	486,653	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	1,626,904	1,652,488
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	628,453	647,540
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	875,968	809,744
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	1,504,421	1,457,284
19	Revenue less expenses. Subtract line 18 from line 12.......	122,483	195,204
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	37,845,735	40,595,759
21	Total liabilities (Part X, line 26).............	35,164,813	37,719,633
22	Net assets or fund balances. Subtract line 21 from line 20.....	2,680,922	2,876,126

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	MADE SHARE OVERDRAFT PROTECTION LOANS, HOME EQUITY LOANS, SHARE SECURED LOANS, AND VISA LOANS TO MEMBERS. TOTAL LOANS AT THE END OF 2015 WERE $23,112,755. THIS NUMBER CONSISTED OF CONSUMER LOANS OF $10,694,978, REAL ESTATE LOANS OF $11,070,273, AND VISA LOANS OF $1,347,504. THE CREDIT UNION'S GOAL IS TO HAVE AN 80% LOANS TO ASSET RATIO AND AN 85% LOANS TO SHARES. AT THE END OF 2015 LOANS TO ASSET RATIO WAS 56.93% AND LOANS TO SHARES WAS 61.56%.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	ACCEPTED DEPOSIT AND ISSUED SHARE CERTIFICATES TO MEMBERS. TOTAL SHARE BALANCES AT THE END OF 2015 WERE $37,542,468. THIS NUMBER CONSISTED OF SHARE BALANCES OF $25,539,512, SHARE DRAFT BALANCES OF $7,336,051, AND CERTIFICATE BALANCES OF $4,666,904.

4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	68,643	0	10,508

1a	Federated campaigns..	1a
b	Membership dues..	1b
c	Fundraising events..	1c
d	Related organizations	1d
e	Government grants (contributions)	1e

f	All other contributions, gifts, grants, and similar amounts not included above	1f

g	Noncash contributions included in lines 1a-1f:$
h Total.Add lines 1a-1f.......

		Business Code
2a	INTEREST INCOME ON LOA	522100	1,131,497	1,131,497
b	DEBIT CARD INTERCHANGE	522100	160,183	160,183
c	SHARE DRAFT FEES	522100	126,151	126,151
d	OTHER FEE INCOME	522100	109,446	100,391	9,055
e	VISA INCOME	522100	71,686	71,686
f	All other program service revenue.
g Total.Add lines 2a–2f.....			1,598,963

3 Investment income (including dividends, interest, and othersimilar amounts) ..........			53,525			53,525
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
		(ii) Personal	(i) Real
6a	Gross rents
b	Less: rental expenses
c	Rental income or (loss)
d	Net rental income or (loss)......
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory
b	Less: cost or other basis and sales expenses
c	Gain or (loss)
d	Net gain or (loss).....
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......
12	Total revenue. See Instructions......			1,652,488	1,589,908	9,055	53,525

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21
2	Grants and other assistance to individuals in the United States. See Part IV, line 22
3	Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16
4	Benefits paid to or for members
5	Compensation of current officers, directors, trustees, and key employees ....	79,151
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....
7	Other salaries and wages	435,720
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	25,425
9	Other employee benefits .......	67,760
10	Payroll taxes ...........	39,484
11	Fees for services (non-employees):
a	Management ......
b	Legal .........
c	Accounting ...........	25,904
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	3,934
12	Advertising and promotion ....	38,540
13	Office expenses .......	53,179
14	Information technology ......	168,130
15	Royalties ..
16	Occupancy ...........	40,074
17	Travel ............
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	7,682
20	Interest ...........	36,896
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	62,091
23	Insurance ...	11,391
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	DEBIT CARD EXPENSE	155,865
b	PROVISION FOR LOAN LOSS	62,500
c	VISA EXPENSE	45,142
d	RENTAL AND MAINTENANCE	35,140
e	All other expenses	63,276
25	Total functional expenses. Add lines 1 through 24e	1,457,284
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			989,679	1	957,447
2	Savings and temporary cash investments .........			13,565,939	2	15,491,930
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............				4
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
					6
7	Notes and loans receivable, net ....			22,066,359	7	22,886,661
8	Inventories for sale or use ........				8
9	Prepaid expenses and deferred charges ......			40,966	9	44,996
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,695,820
b	Less: accumulated depreciation	10b	915,944	769,521	10c	779,876
11	Investments—publicly traded securities .				11
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			413,271	15	434,849
16	Total assets. Add lines 1 through 15 (must equal line 34)...			37,845,735	16	40,595,759

17	Accounts payable and accrued expenses .....	158,655	17	177,165
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..		22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D	35,006,158	25	37,542,468
26	Total liabilities. Add lines 17 through 25..	35,164,813	26	37,719,633

	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets		27
28	Temporarily restricted net assets ...........		28
29	Permanently restricted net assets		29
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds .....	0	30	0
31	Paid-in or capital surplus, or land, building or equipment fund ...	0	31	0
32	Retained earnings, endowment, accumulated income, or other funds	2,680,922	32	2,876,126
33	Total net assets or fund balances ...........	2,680,922	33	2,876,126
34	Total liabilities and net assets/fund balances ........	37,845,735	34	40,595,759

1	Total number at end of year ....
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ....

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

1a	Land ...	242,752		242,752
b	Buildings	698,320	265,025	433,295
c	Leasehold improvements
d	Equipment ...	754,748	650,919	103,829
e	Other ...
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				779,876

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

(a) Description of security or category (including name of security)	(b)Book value	(c)Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
MEMBERS' SHARE AND SAVINGS ACCOUNT	37,542,468
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	37,542,468
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII