2025-10-01T11:59:21-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 381475121 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 7346767000 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 T SCOTT KREINBRING CFO 7346753757 2025-09-30 1 0 AUBREY CLEGG P01076395 3052328272 2025-09-29 2024 2025-03-06 01:10:19Z ADVANTAGE ONE CREDIT UNION CHRISTOPHER D CORKERY 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 19168420 0 X WWW.MYAOCU.COM X 1952 MI THE MISSION OF ADVANTAGE ONE CREDIT UNION IS TO OPERATE IN A SAFE AND SOUND MANNER WHILE MEETING THE FINANCIAL NEEDS OF ITS MEMBERSHIP. 7 7 71 7 30891 0 0 0 14774068 17189794 957531 1524066 33073 30891 15764672 18744751 7500 10000 0 0 4681143 4937212 0 0 0 8934348 11060311 13622991 16007523 2141681 2737228 256404552 252939519 236584888 229503095 19819664 23436424 THE MISSION OF ADVANTAGE ONE CREDIT UNION IS TO OPERATE IN A SAFE AND SOUND MANNER WHILE MEETING THE FINANCIAL NEEDS OF ITS MEMBERSHIP. 0 0 LOANS - LOANS GREW 4.30% IN 2024. CLOSED END HOME EQUITY LOANS HAD THE MOST DOLLAR GROWTH AT $3.9 MILLION OR 28%, INDIRECT LOANS GREW $2.2 MILLION, OR 4.54%. CREDIT CARD LOANS GREW $1.8 MILLION, OR 11.97%. NOT INCLUDING WAGES AND BENEFITS, LOAN SERVICING EXPENSE IN 2024 WAS $1,517,338. DEBIT CARDS - AS OF 12/31/2024, ADVANTAGE ONE CU HAD 11,620 DEBIT CARDS REPRESENTING 64.74% OF TOTAL MEMBERS. THE ASSOCIATED EXPENSE WITH THE PROGRAM WAS $819,291, EXCLUDING WAGES AND BENEFITS. HOME BANKING AND BILL PAY - ADVANTAGE ONE CU HAS 12,096 ONLINE BANKING USERS AND 838 BILL PAY USERS REPRESENTING 68% AND 5% OF TOTAL MEMBERS, RESPECTIVELY. NOT INCLUDING WAGES AND BENEFITS, ASSOCIATED PROGRAM EXPENSES TOTALLED $399,752 IN 2024. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 3611 0 1 71 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X T SCOTT KREINBRING 7346753757 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 RICHARD E LINDEMANN CHAIRPERSON 1.00 X 0 0 0 MARK RAGSDALE VICE CHAIRPERSON 1.00 X 0 0 0 ANTHONY PASCARELLA SECRETARY 1.00 X 0 0 0 ROBERT J MATTERN TREASURER 1.00 X 0 0 0 MARTIN BERTERA DIRECTOR 1.00 X 0 0 0 SUSAN TRUSSEL DIRECTOR 1.00 X 0 0 0 BOBBY WALTERS DIRECTOR 1.00 X 0 0 0 CHRISTOPHER CORKERY CEO 55.00 X 354353 0 50767 TRACY SCOTT KREINBRING CFO 55.00 X 164991 0 21582 NICHOLAS SCHMITTER CLO 55.00 X 170546 0 22027 ALAN FREY CIO 45.00 X 135120 0 17891 JESSICA SAWYER VP OF MEMBER EXPERIENCE 45.00 X 112341 0 32054 SARAH RITCHIE VP OF HUMAN RESOURCES 45.00 X 102915 0 27339 1040266 0 171660 6 0 1 0 LEVEL5 LLC 2018 POWERS FERRY RD SE SUITE 750 ATLANTA GA 30339 DESIGN AND BUILD 1562409 VELERA 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DR AND CR PROCESSING 1135372 JHA PO BOX 609 MONETT MO 65708 CORE DATA SERVICES 431551 ALKAMI 5601 GRANITE PARKWAY PLANO TX 75024 HOME BANKING/ BILL PAY 341955 LKCS 4130 PLANK ROAD PERU IL 61354 STATEMENT MAILER/MARKETING 166257 8 INCOME ON LOANS 522100 12774567 12774567 FEES/CHARGES/OTHER 522100 4415227 4415227 17189794 1561542 1561542 386193 423669 -37476 -37476 -37476 FINANCE AND INSURANCE 520000 30891 30891 30891 18744751 18713860 30891 0 X 10000 784266 3086542 272200 497637 296567 820260 137772 2239448 399500 30587 183961 3700481 24189 246789 LOAN SERVICING 1517338 PROVISION FOR LOAN LOSS 1424364 MISCELLANEOUS 182827 TRAINING/DEVELOPMENT/ED 104914 47881 16007523 1806603 1636171 21331235 15418392 703047 746061 1629848 1664006 185077503 192723080 964639 806280 6792690 2872614 3892125 3920076 35419466 28072110 1283824 1716278 4296262 6237065 256404552 252939519 1507128 1094943 13500000 11500000 221577760 216908152 236584888 229503095 X 0 0 0 0 19819664 23436424 19819664 23436424 256404552 252939519 2737228 879532 0 X X 0 1 X 1 0 1653419 1653419 3503289 1545145 1958144 1635982 1327469 308513 3920076 MEMBER DEPOSITS 216908152 216908152 X 18782227 0 18782227 -37476 -37476 18744751 16044999 37476 37476 16007523 0 16007523 PART X, LINE 2: INCOME TAX IS NOT PROVIDED IN THE STATEMENTS OF INCOME AS THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME, IF ANY. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SOLD ASSETS REPORTED AS A REDUCTION OF REVENUE THE STATEMENT OF REVENUE ON FORM 990 BUT INCLUDED IN EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS -37,476. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SOLD ASSETS REPORTED AS A REDUCTION OF REVENUE THE STATEMENT OF REVENUE ON FORM 990 BUT INCLUDED IN EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS 37,476. 1 SCHOLARSHIPS 4 10000 PART III SCHOLARSHIPS ARE AWARDED BASED ON VARIOUS CRITERIA INCLUDING BUT NOT LIMITED TO THE APPLICANTS' SCHOLASTIC ACHIEVEMENTS, COMMUNITY SERVICE AND CHARITY WORK. APPLICANTS ALSO ANSWER A SERIES OF ESSAY QUESTIONS. X 1 1 X X 0 1 0 CHRISTOPHER CORKERY CEO 308014 0 30450 0 15889 0 27600 0 23167 0 405120 0 0 0 NICHOLAS SCHMITTER CLO 160115 0 10000 0 431 0 13644 0 8383 0 192573 0 0 0 TRACY SCOTT KREINBRING CFO 154713 0 10000 0 278 0 13199 0 8383 0 186573 0 0 0 ALAN FREY CIO 127062 0 8000 0 58 0 10923 0 6968 0 153011 0 0 0 PART I, LINE 4B THE CEO, CHRISTOPHER CORKERY PARTICIPATES IN A COLLATERAL ASSIGNED SPLIT DOLLAR ARRANGEMENT. SEE SCHEDULE L. CHRIS CORKERY CEO EXECUTIVE RETENTION PLAN X 1500000 1664006 0 1 1 1664006 SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE PROMISSORY NOTE SIGNED BY THE PARTICIPATING EXECUTIVE IS SECURED BY THE LIFE INSURANCE POLICIES PURCHASED ON THE PARTICIPANT'S BEHALF. THAT IS, THE EXECUTIVE'S LOAN FUNDS A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME UP TO THE PREMIUMS PAID INTO THE POLICIES. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S EXECUTIVE LOAN ORIGINATION VALUE PLUS THE STATED INTEREST. ANY REMAINING DEATH BENEFITS AFTER REPAYMENT OF THE LOANS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS PER THE CONTRACTUAL AGREEMENT. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE ORGANIZATION VOTE FOR VOLUNTEERS, OR BOARD OF DIRECTORS, THROUGH AN ELECTION PROCESS CONDUCTED AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND CFO OVERSEE THE PREPARATION OF THE FORM 990 AS WELL AS THE REVIEW OF THE FORMS PRIOR TO FILING WITH THE IRS. A COPY WILL BE PROVIDED TO THE AUDIT COMMITTEE, WHICH IS A SUBSET OF THE BOARD OF DIRECTORS, AT THE FIRST QUARTERLY MEETING FOLLOWING THE FILING OF THIS RETURN. FORM 990, PART VI, SECTION B, LINE 12C POLICIES ARE REVIEWED REGULARLY, REVISED AS NECESSARY AND PRESENTED TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THESE INDIVIDUALS ARE DETERMINED BY USING TOOLS SUCH AS SALARY SURVEY DATA THAT LOOK AT ITEMS SUCH AS ASSET SIZE, POSITION, SKILLS, AND EDUCATION. THIS INFORMATION IS GIVEN TO THE BOARD OF DIRECTORS TO LOOK AT, REVIEW, AND DETERMINE THE COMPENSATION AMOUNT. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 820,260. FORM 990, PART IX, LINE 24E DIFS FEES 37,192. NO BOUNCE PROVISION 10,689. FORM 990, PART XII, LINE 2C WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.