2024-06-25T08:12:07-05:00 2023-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 300 AUBURN HILLS MI 48326 990 2023-01-01 381497358 VIBE CREDIT UNION VIBE 2487359500 44575 W TWELVE MILE RD NOVI MI 48377 HEATHER THOMPSON CONTROLLER 2487359500 2024-06-14 1 HEATHER THOMPSON 999009999 1 TINA PETERS P00904574 2483757100 2024-06-14 0 AAL1 IAL1 2023 2023-04-26 12:10:37Z CHAZ RZEWNICKI 44575 W TWELVE MILE RD NOVI MI 48377 127320947 0 X WWW.VIBECREDITUNION.COM X 1953 MI PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND 11 11 288 12 50743 0 0 0 54706336 63207693 5485348 7162535 0 0 60191684 70370228 0 154065 0 0 20905918 23216485 0 0 0 27222040 39340206 48127958 62710756 12063726 7659472 1218826830 1234661523 1112113610 1112162841 106713220 122498682 TO ENHANCE THE FINANCIAL WELL-BEING OF OUR MEMBERS 0 0 PROVIDE 79,456 MEMBERS WITH REGULAR SAVINGS, CHECKING, MONEY MARKETS, BUSINESS SAVINGS, IRA SAVINGS AND CERTIFICATES OF DEPOSIT ACCOUNTS TOTALING 173,798. PROVIDE 44,037 LOANS INCLUDING VEHICLE, RECREATIONAL VEHICLE, LINES OF CREDIT, CREDIT CARDS, HOME EQUITY, MORTGAGE, BUSINESS, SIGNATURE AND SHARED SECURED LOANS. OFFER AUTOMATED TELLER MACHINES (ATMS), DEBIT CARD, HOME BANKING, BILL PAYMENTS, COURTESY PAY, AND VARIOUS INSURANCE PRODUCTS TO OUR MEMBERSHIP. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 15342 0 1 288 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X ERIC HEINRICH 2487359500 44575 W TWELVE MILE ROAD NOVI MI 48377 MICHAEL IVANICS BOARD CHAIRPERSON 4.00 0.00 X X 0 0 0 GAIA PIIR VICE CHAIRPERSON 2.00 0.00 X X 0 0 0 STANLEY MOORE BOARD SECRETARY 2.00 0.00 X X 0 0 0 STEPHEN WESTBROOKS BOARD TREASURER 2.00 0.00 X X 0 0 0 MARILYN BAKER DIRECTOR 1.00 0.00 X 0 0 0 COLLEEN BARTON DIRECTOR 1.00 0.00 X 0 0 0 ARTHUR FRASCA DIRECTOR 1.00 0.00 X 0 0 0 CHRISTA MURPHY DIRECTOR 1.00 0.00 X 0 0 0 JENNA ROMAIN DIRECTOR 1.00 0.00 X 0 0 0 MICHELLE SAUNDERS DIRECTOR 1.00 0.00 X 0 0 0 DOUGLAS WILLIAMS DIRECTOR 1.00 0.00 X 0 0 0 JAMES FITZPATRICK DIRECTOR - PART YEAR 1.00 0.00 X 0 0 0 CHAZ RZEWNICKI PRESIDENT/CEO 37.50 0.00 X 767027 0 53724 ROBIN THOMPSON CHIEF OPERATIONS OFFICER 37.50 0.00 X 253755 0 41009 STEVEN SMITH CHIEF INFORMATION OFFICER 37.50 0.00 X 239005 0 41201 TERESA DIGAETANO CHIEF CREDIT OFFICER 37.50 0.00 X 236763 0 39097 JEFFREY PASCOE CHIEF DATA AND DIGITAL OFFICER 37.50 0.00 X 234435 0 41905 CAITRINA SLAVEY CHIEF RISK OFFICER 37.50 0.00 X 188532 0 37721 KELLY HESS CHIEF FINANCIAL OFFICER(THRU 6/1/23) 37.50 0.00 X 236572 0 15229 JENNIFER WOESSNER CHIEF TALENT OFFICER 37.50 0.00 X 162940 0 31026 KOREY JENKINS VP OF LENDING (THRU 10/31/23) 37.50 0.00 X 223399 0 35558 MICHAEL LIEBERMAN DIRECTOR OF COMMERCIAL LENDING 37.50 0.00 X 180051 0 34791 HEATHER THOMPSON CONTROLLER 37.50 0.00 X 132878 0 16871 MARK HURT DIRECTOR OF TECHNICAL SYSTEMS 37.50 0.00 X 135472 0 27449 STEPHANIE LAMAS DIRECTOR OF REAL ESTATE LENDING 37.50 0.00 X 123191 0 30135 SCOTT CHAMPAGNE COLLECTIONS MANAGER 37.50 0.00 X 141523 0 29327 ALLAN MCMORRIS FORMER PRESIDENT/CEO 0.00 0.00 X 537640 0 0 THOMAS REAGAN FORMER PRESIDENT/CEO 0.00 0.00 X 122000 0 0 3915183 0 475043 22 1 1 0 CO-OP SOLUTIONS 9692 HAVEN AVE STE 300 RANCHO CUCAMONGA CA 91730 SHARED BRANCHING, ATM NETWORK, DEBIT CAR 2308547 LAMACCHIA GROUP 157 N MILWAUKEE ST MILWAUKEE WI 53202 CONSTRUCTION CONTRACTOR 1880017 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 DIGITAL SERVICES 1469491 CUBUS SOLUTIONS INC 5531 S MACADAM AVE STE 251 PORTLAND OR 97239 QUICK PAY SERVICES 485649 CORELATION 2305 HISTORIC DECATUR RD STE 300 SAN DIEGO CA 92105 CORE SYSTEM AND PROCESSING 437749 9 LOAN INTEREST 522100 44005731 44005731 FEES & OTHER INCOME 522100 19201962 19151219 50743 63207693 6756201 6756201 53472348 3884705 56950719 0 -3478371 3884705 406334 406334 70370228 70319485 50743 0 154065 2542428 14113938 1472972 3798987 1288160 -1663 149487 1590556 2311984 3381144 2193821 277386 515145 14309172 2588532 401293 COLLECTION/LOAN SERVICE 4116802 PROVISION FOR LOAN LOSS 2743463 FRAUD EXPENSES 444527 EXAMINATION FEES 145600 4172957 62710756 6655034 6195280 62473097 96078647 13216993 13839682 792703435 861690089 2007695 2076930 47869070 16193887 31889239 31675183 257426382 194099760 2061400 1435450 50393555 27570502 1218826830 1234661523 4475730 4503160 1785068 1546123 1105852812 1106113558 1112113610 1112162841 X 0 0 0 0 106713220 122498682 106713220 122498682 1218826830 1234661523 X 7659472 9797006 -1671016 X 0 1 X 1 0 0 1 X 8667561 8667561 28965344 8893329 20072015 707817 702346 5471 9364536 6598212 2766324 163812 163812 31675183 FEDERAL AGENCY SECURITIES AFS 176407523 F CERTIFICATES OF DEPOSIT 2737000 C PAID IN CAPITAL-ALLOYA CORP FCU 2710000 C FHLB STOCK 2407300 C NCUA CENTRAL LIQUIDITY FUND 2777145 C INVESTMENT IN CUSOS 7060792 C 194099760 OTHER LIABILITIES 4147221 POST RETIREMENT OBLIGATIONS 1278311 MEMBER SHARE ACCOUNTS 1100688026 1106113558 PART IV, LINE 2B: CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGE ESCROW ACCOUNTS. IN ADDITION, THE CREDIT UNION PROVIDES FINANCIAL EDUCATION AND COUNSELING TO MEMBERS TO ASSIST THEM WITH MANAGING THEIR FINANCES. 1 HABITAT FOR HUMANITY 150 OSMUN ST PONTIAC MI 48342 383244099 501(C)(3) 52065 0 GENERAL ASSISTANCE PANCREATIC CANCER ACTION NETWORK 1500 ROSECRANS AVE STE 200 MANHATTAN BEACH CA 90266 330841281 501(C)(3) 20000 0 GENERAL ASSISTANCE METRO FOOD RESCUE 6928 EAST KNOLLWOOD CIRCLE WEST BLOOMFIELD MI 48322 851902179 501(C)(3) 22500 0 GENERAL ASSISTANCE DISASTER RELIEF AT WORK INC 1556 N TELEGRAPH DR PONTIAC MI 48340 454900831 501(C)(3) 10000 0 GENERAL ASSISTANCE MICHIGAN STATE UNIVERSITY 28115 MEADOWBROOK RD NOVI MI 48377 GOV 6500 0 PUMPKINFEST SPONSOR ACTIVE FAITH PO BOX 188 SOUTH LYON MI 48178 382763807 501(C)(3) 10000 0 GENERAL ASSISTANCE KIDS COALITION AGAINST HUNGER 37637 FIVE MILE RD 262 LIVONIA MI 48154 383693155 501(C)(3) 6250 0 GENERAL ASSISTANCE 7 0 PART I, LINE 2: VIBE CREDIT UNION DONATES TO 501(C)(3) ORGANIZATIONS THAT FALL WITHIN STRATEGICALLY AND ORGANIZATIONALLY DEFINED PILLARS OF COMMUNITY SUPPORT. APPROVED REQUESTS FOLLOW A 501(C)(3) VERIFICATION ONBOARDING PROCESS. APPROVED DONATIONS ARE MONITORED BY OUR FOUNDATION AND COMMUNITY ENGAGEMENT DIRECTOR, AND AN INFORMATIONAL REPORT IS PROVIDED TO THE BOARD OF DIRECTORS ANNUALLY. X X 1 1 X X X 1 1 0 CHAZ RZEWNICKI PRESIDENT/CEO 669633 0 62000 0 35394 0 31988 0 21736 0 820751 0 0 0 ALLAN MCMORRIS FORMER PRESIDENT/CEO 0 0 0 0 537640 0 0 0 0 0 537640 0 0 0 ROBIN THOMPSON CHIEF OPERATIONS OFFICER 219660 0 21500 0 12595 0 21371 0 19638 0 294764 0 0 0 STEVEN SMITH CHIEF INFORMATION OFFICER 207277 0 18200 0 13528 0 19617 0 21584 0 280206 0 0 0 JEFFREY PASCOE CHIEF DATA AND DIGITAL OFFICER 205754 0 16853 0 11828 0 20386 0 21519 0 276340 0 0 0 TERESA DIGAETANO CHIEF CREDIT OFFICER 205932 0 17154 0 13677 0 20807 0 18290 0 275860 0 0 0 KOREY JENKINS VP OF LENDING (THRU 10/31/23) 123795 0 13365 0 86239 0 12109 0 23449 0 258957 0 0 0 KELLY HESS CHIEF FINANCIAL OFFICER(THRU 6/1/23) 125893 0 21000 0 89679 0 12229 0 3000 0 251801 0 0 0 CAITRINA SLAVEY CHIEF RISK OFFICER 161516 0 7500 0 19516 0 16523 0 21198 0 226253 0 0 0 MICHAEL LIEBERMAN DIRECTOR OF COMMERCIAL LENDING 169800 0 10080 0 171 0 11946 0 22845 0 214842 0 0 0 JENNIFER WOESSNER CHIEF TALENT OFFICER 125335 0 7330 0 30275 0 5757 0 25269 0 193966 0 0 0 SCOTT CHAMPAGNE COLLECTIONS MANAGER 80165 0 61191 0 167 0 5808 0 23519 0 170850 0 0 0 MARK HURT DIRECTOR OF TECHNICAL SYSTEMS 119708 0 8550 0 7214 0 5500 0 21949 0 162921 0 0 0 STEPHANIE LAMAS DIRECTOR OF REAL ESTATE LENDING 107523 0 7225 0 8443 0 11173 0 18962 0 153326 0 0 0 THOMAS REAGAN FORMER PRESIDENT/CEO 0 0 0 0 122000 0 0 0 0 0 122000 0 0 0 PART I, LINE 1A THE BOARD OF DIRECTORS CAN RECEIVE REIMBURSEMENT OF FLIGHT, MEALS, AND REGISTRATION FEES FOR TRAVELING COMPANIONS. THIS IS TREATED AS A TAXABLE BENEFIT AND 1099'S ARE ISSUED FOR REIMBURSEMENTS FOR THE YEAR TOTALING OVER $600. PAID BOARD MEMBERS GROSS-UP PAYMENTS OF 30% FOR THE COMPANION TO OFFSET THE NONEMPLOYEE COMPENSATION INCURRED TAX LIABILITY. PART I, LINE 3 THE CREDIT UNION HIRES A THIRD-PARTY (HUMANIDEI) AS AN INDEPENDENT COMPENSATION CONSULTANT TO LOOK AT MARKET VALUES. THE CEO IS UNDER A WRITTEN EMPLOYMENT CONTRACT. HUMANIDEI UTILIZED A COMPENSATION SURVEY AND IT WAS APPROVED BY THE BOARD OF DIRECTORS. PART I, LINES 4A-B LINE 4A: KELLY HESS RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $81,000. KOREY JENKINS RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $75,000. LINE 4B: THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AND RECEIVED A DISTRIBUTION FROM OR HAD AMOUNTS VEST IN THE PLAN: THOMAS REAGAN - $122,000 ALLAN MCMORRIS - $537,640 THE FOLLOWING INDIVIDUALS PARTICATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN BUT DID NOT RECEIVE A DISTRIBUTION OR HAVE AN AMOUNT VEST IN THE PLAN. INDIVIDUALS BECOME VESTED IN THE PLAN IF THE PARTICIPANT REMAINS CONTINUOUSLY EMPLOYED WITH THE CREDIT UNION DURING THE SERVICE PERIOD: TERESA DIGAETANO JEFFREY PASCOE CAITRINA SLAVEY STEVEN SMITH JENNIFER WOESSNER KELLY HESS CHAZ RZEWNICKI ROBIN THOMPSON KOREY JENKINS FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS 79,456 MEMBERS AS OF DECEMBER 31, 2023. EACH MEMBER HAS ONE $5.00 SHARE IN THE CREDIT UNION. THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE, AND VOTING. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BASED ON AN OPEN BALLOT FOR 3-YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B CREDIT UNION DECISIONS THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE BOARD OF DIRECTOR ELECTIONS, MERGER INTO ANOTHER CREDIT UNION, AND CHARTER CHANGES. FIELD OF MEMBERSHIP CHANGES AND BYLAW CHANGES MUST BE REPORTED TO THE MEMBERSHIP AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO APPROVES OUR ANNUAL FORM 990. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL DIRECTORS, OFFICERS, AND EMPLOYEES OF THE CREDIT UNION MUST ATTEST THAT THEY HAVE NO CONFLICTS OF INTEREST. ANY POTENTIAL CONFLICTS ARE REVIEWED BY THE AUDIT COMMITTEE AND THE FULL BOARD TO DETERMINE IF AN ACTUAL CONFLICT EXISTS. BOARD MEMBERS WITH A CONFLICT OF INTEREST WILL BE EXCUSED FROM PARTICIPATING IN DELIBERATIONS AND VOTING ON TRANSACTION(S) WHERE THE CONFLICT(S) EXIST. FORM 990, PART VI, SECTION B, LINE 15 SALARY IS BASED ON CREDIT UNION PRESIDENT/CEO SALARY SURVEYS AND DETERMINED BY THE CREDIT UNION SIZE, COMPLEXITY, AND PERFORMANCE. THE CREDIT UNION USES INDUSTRY RELATED SURVEYS OBTAINED BY A THIRD PARTY (BALANCED COMP). THE BOARD'S HR COMMITTEE DETERMINES AND SETS THE PRESIDENT/CEO SALARY. THE CHIEF OF TALENT OFFICER PREPARES AND CONDUCTS THE EVALUATION PROCESS FOR KEY EMPLOYEES, WITH FINAL REVIEW PERFORMED BY THE PRESIDENT/CEO. THOSE SALARIES ARE BASED ON AN AVAILABLE SALARY SURVEY FROM A THIRD PARTY (BALANCED COMP) AND ARE PERFORMANCE BASED. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION BRANCH LOBBIES. OTHER DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE -1,694,644. POSTRETIREMENT HEALTH CARE PLAN 23,628. FORM 990, PART X, LINE 5 AND SCHEDULE L: SCHEDULE L IS NOT REQUIRED FOR LOANS RECEIVABLE BALANCES ON FORM 990, PART X, LINE 5 IF THE LOANS ARE MADE BY THE CREDIT UNION TO THE DIRECTORS, OFFICERS, AND KEY EMPLOYEES ON THE SAME TERMS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION. THEREFORE, THE CREDIT UNION HAS INCLUDED $1,423,885 AND $1,955,258 OF RECEIVABLES FROM CURRENT OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES FOR 2023 AND 2022, RESPECTIVELY, WITHIN FORM 990, PART X, LINE 7. TELECOM CUSO NO 1 LLC-DBA AUTO PRIVILEGES 44575 W TWELVE MILE RD NOVI MI 48377 810594398 AUTO SALES MI 0 0 VIBE CREDIT UNION