2024-05-15T13:07:03-04:00 2023-12-31 382210508 ADDISON & ADDISON PC 20630 HARPER AVE STE 110 HARPER WOODS MI 48225 990 2023-01-01 380480170 DIVERSIFIED MEMBERS CREDIT UNION DIVE 3135685000 1480 EAST JEFFERSON AVENUE DETROIT MI 48207 MARK EVENSON CFO 3135685000 2024-05-14 true MARK EVENSON XXX-XX-XXXX true JOHN T ADDISON II P01386149 3138814181 2024-05-14 2023 2023-04-26 12:10:37Z SATI SMITH 1480 EAST JEFFERSON AVENUE 1480 EAST JEFFERSON AVENUE DETROIT MI 48207 100912343 false X WWW.DMCU.COM X CREDIT UNION 1929 MI TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. 9 9 110 0 0 12868862 16156282 4458285 -5454830 4676216 6030364 22003363 16731816 0 0 7998082 8483982 0 0 12351296 17405326 20349378 25889308 1653985 -9157492 485865565 480989264 414205521 404637256 71660044 76352008 X TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. false false TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. false false false false false false false false false true false false false true true true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 5785 0 true 110 true false false false false false false false false X 9 9 false false false false true true true true true false false false true true true true true true true false X MARK EVENSON 3135685000 1480 EAST JEFFERSON AVENUE DETROIT MI 48207 KATHIE TREMBATH CEO - FORMER 40.00 X 397576 0 0 SATI SMITH CEO 40.00 X 252610 0 0 COLLEEN SCOTT CMO 40.00 X 189799 0 0 JR SMITH CLO 40.00 X 178844 0 0 KEVIN O'CONNOR CFO - FORMER 40.00 X 178256 0 0 GARY SEIFERT MBR BUS LOAN 40.00 X 148303 0 0 JANICE BOJANOWSKI CONTROLLER 40.00 X 139349 0 0 PATRICE SCHORNAK VP ASSET REC 40.00 X 136977 0 0 SHARI QUINKERT HUMAN RESOUR 40.00 X 131835 0 0 DANIEL JAMES O'DONNELL IT MGR 40.00 X 127928 0 0 SHERI LABOE COO 40.00 X 91732 0 0 MARK EVENSON CFO 40.00 X 32308 0 0 JANISSE GREEN DIRECTOR X 0 0 0 DAVID BROOKS III CHAIRPERSON X X 0 0 0 CARL JARBOE DIRECTOR X 0 0 0 DARREN JOHNSON DIRECTOR X 0 0 0 ALBERT PATRICK JR DIRECTOR X 0 0 0 ANTHONY LAMERATO VICE CHAIR X X 0 0 0 JEROME POKORSKI SECRETARY X X 0 0 0 ANDREW POLLACK TREASURER X X 0 0 0 PAMELA SCALES DIRECTOR X 0 0 0 2005517 10 true true false CU COOPERATIVE CU COOPERATIVE 21840 WEST NINE MILE ROAD 21840 WEST NINE MILE ROAD SOUTHFIELD MI 48075 CUSO 1178243 CU ANSWERS CU ANSWERS 6000 28TH STREET STE 100 6000 28TH STREET STE 100 GRAND RAPIDS MI 49546 COMP SVC BUREAU 766238 HOLZMAN LAW PLLC HOLZMAN LAW PLLC 28366 FRANKLIN ROAD 28366 FRANKLIN ROAD SOUTHFIELD MI 48034 LEGAL,COLLECT'N 361244 REBUILD GROUP REBUILD GROUP 2921 EAST GRAND BLVD STE 200 2921 EAST GRAND BLVD STE 200 DETROIT MI 48202 MARKETING & ADV 189090 4 INTEREST ON LOANS 16156282 16156282 16156282 4269996 4269996 74455701 84180527 -9724826 -9724826 -9724826 FEES & OTHER 6030364 6030364 6030364 16731816 16731816 745293 745293 6054459 6054459 36799 36799 1135704 1135704 511727 511727 124603 124603 50696 50696 237104 237104 16595 16595 1235125 1235125 1199526 1199526 493589 493589 851097 851097 560266 560266 5854157 5854157 559661 559661 90553 90553 ALL OTHER EXPENSES 2639507 2639507 PROV FOR CREDIT LOSSES 1540193 1540193 SVC CTR, ATM & SH DRAFTS 1344466 1344466 BUSINESS LOAN SERVICING 608188 608188 25889308 25889308 0 0 4178661 3592711 4388681 81294564 1743926 928548 295700515 275356148 1935792 3076283 5818204 5112110 13958543 7574350 6913390 6384193 153154159 92098080 495378 495378 11536859 12651249 485865565 480989264 5159965 4837063 409045556 399800193 414205521 404637256 X 71660044 76352008 71660044 76352008 485865565 480989264 X -9157492 12966461 -405387 1288382 X false true X true false 2126410 2126410 11324777 7260418 4064359 507356 313932 193424 6384193 REGULAR SHARES 191131066 SHARE CERTIFICATES 98063494 NON-MEMBER SHARE CERTIFICATES 37173968 IRA ACCOUNTS 36833134 DRAFT & CHRISTMAS CLUB ACCOUNTS 33953392 ACCRUED POST-RETIRE EMP BEN 2645139 399800193 X 16731816 16731816 16731816 25889308 25889308 25889308 SCHEDULE D, PAGE 3, PART X AS A STATE CHARTERED CREDIT UNION, THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE. STATE CHARTERED CREDIT UNIONS ARE TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(14)(A). AS SUCH, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT REQUIRE EITHER RECOGNITION OR DISLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST OR PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. X false false false KATHIE TREMBATH CEO - FORMER 397576 397576 SATI SMITH CEO 252610 252610 COLLEEN SCOTT CMO 189799 189799 JR SMITH CLO 178844 178844 KEVIN O'CONNOR CFO - FORMER 178256 178256 ANTHONY LAMERATO VC HOME EQUITY X 288762 273477 false true true ANTHONY LAMERATO VC HOME EQUITY X 150000 92305 false true true SATI SMITH CEO VEHICLE LOAN X 93464 81879 false true true JANISSE GREEN DIRECTOR HOME EQUITY X 100000 80815 false true true COLLEEN SCOTT CMO HOME EQUITY X 67500 64402 false true true JR SMITH CLO HOME EQUITY X 45000 42348 false true true SATI SMITH CEO 10/10 YR LOC X 40000 39916 false true true PAMELA SCALES DIR VEHICLE LOAN X 45799 35046 false true true JR SMITH CLO VEHICLE LOAN X 38955 34805 false true true PAMELA SCALES DIR HOME EQUITY X 35000 34393 false true true JANISSE GREEN DIRECTOR MORTGAGE X 86400 27029 false true true COLLEEN SCOTT CMO CLOSED END LOAN X 30000 25453 false true true SATI SMITH CEO CHARGE CARD X 25000 24547 false true true JANISSE GREEN DIR VEHICLE LOAN X 22892 18202 false true true JANISSE GREEN DIR REVOLVING LOC X 20000 17525 false true true JR SMITH CLO CHARGE CARD X 13000 12430 false true true COLLEEN SCOTT CMO CHARGE CARD X 10500 10238 false true true JR SMITH CLO BOAT LOAN X 8500 6307 false true true DAVID BROOKS III CHAIR REVOLVING LOC X 9500 5804 false true true PAMELA SCALES DIR CHARGE CARD X 7456 1627 false true true 928548 SCHEDULE L, PART II JANISSE GREEN FROM 86,400 27,029 MORTGAGE ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT COLLEEN SCOTT FROM 30,000 25,453 CLOSED END LOAN ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT SATI SMITH FROM 25,000 24,547 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT JANISSE GREEN FROM 22,892 18,202 VEHICLE LOAN ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT JANISSE GREEN FROM 20,000 17,525 REVOLVING LOC ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT J.R. SMITH FROM 13,000 12,430 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT COLLEEN SCOTT FROM 10,500 10,238 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT J.R. SMITH FROM 8,500 6,307 BOAT LOAN ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT DAVID BROOKS, III FROM 9,500 5,804 REVOLVING LOC ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT PAMELA SCALES FROM 7,456 1,627 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT FORM 990, PAGE 2, PART III, LINE 4D TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. FORM 990, PAGE 6, PART VI, LINE 6 A MEMBER MUST HOLD ONE (1) FULLY PAID SHARE (PAR VALUE 5.00) AND MEET THE REQUIREMENTS STATED IN THE CREDIT UNION'S BYLAWS TO RETAIN MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 7A THE ORGANIZATION'S MEMBERS (SHAREHOLDERS) ELECT THE ORGANIZATION'S GOVERNING BODY (DIRECTORS) ANNUALLY IN ACCORDANCE WITH THE CREDIT UNION'S BYLAWS. FORM 990, PAGE 6, PART VI, LINE 7B APPROVAL OF THE ORGANIZATION'S MEMBERS IS REQUIRED TO CHANGE THE CREDIT UNION'S BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS, DIRECTORS, & COMMITTEE MEMBERS ARE REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION OF THE CEO INCLUDES A REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PAGE 6, PART VI, LINE 15B THE PROCESS FOR DETERMINING COMPENSATION OF OTHER EMPLOYEES INCLUDES A REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PAGE 6, PART VI, LINE 19 THE BYLAWS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY ON A MONTHLY BASIS. FORM 990, PART XI LINE 8, PRIOR PERIOD ADJUSTMENTS: ADOPTION OF NEW ACCOUNTING STANDARD ASU 2016-13 FORM 990, PART XI, LINE 9 CHANGES IN ACCUM OTHER COMP LOSS: 0 DEFINED BENEFIT PLAN: 0 CHANGE IN UNRECOG PRIOR SVC COST 367 CHANGE IN UNRECOG NET ACTUARIAL LOSS (GAIN) 1,108,142 RETIREE MEDICAL BENEFITS PLAN: 0 CHANGE IN UNRECOG PRIOR SVS COST 42,684 CHANGE IN UNRECOG NET ACTUARIAL LOSS (GAIN) 137,189 TOTAL 1,288,382