SOVITA CREDIT UNION: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: SOVITA CREDIT UNION (EIN 38-0546210)
Tax period: 2023-01-01 to 2023-12-31
Filed: 2024-09-22
IRS object ID: 202412669349300306
Schema version: 2023v5.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule I
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-09-22T21:18:37-05:00	ReturnTs
Tax Period End	2023-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	382492570	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	DOEREN MAYHEW	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	305 WEST BIG BEAVER ROAD	AddressLine1Txt
City	TROY	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48084	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2023-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	380546210	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	CREDIT UNIONS CHARTERED IN THE STATE OF	BusinessNameLine1Txt
Business Name Line2	SOVITA CREDIT UNION	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	CRED	BusinessNameControlTxt
Phone	8107208300	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 320830	AddressLine1Txt
City	FLINT	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48532	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	PATRICK WHITE	PersonNm
Person Title	GENERAL MANAGER/CEO	PersonTitleTxt
Phone	8107208300	PhoneNum
Signature	2024-09-16	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JACK TRACY	PreparerPersonNm
PTIN	P01974742	PTIN
Phone	2482443000	PhoneNum
Preparation	2024-09-10	PreparationDt

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2024-08-08 14:25:15Z	BuildTS

Form 990 IRS990

Doing Business As Name DoingBusinessAsName

Field	Value	IRS element (for citing)
Business Name Line1	SOVITA CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Principal Officer	PATRICK WHITE	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4411 CALKINS ROAD	AddressLine1Txt
City	FLINT	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48532	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$18,274,970	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Group Exemption	1359	GroupExemptionNum
Organization501c	Yes (X)	Organization501cInd
Website Address	SOVITACU.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1934	FormationYr
Legal Domicile State	MI	LegalDomicileStateCd
Activity Or Mission	TO BECOME THE PRIMARY FINANCIAL SERVICES PROVIDER FOR OUR MEMBERS THROUGH OUR CONTINUAL EFFORT TO EXEMPLIFY COURTEOUS, RELIABLE, COMPREHENSIVE AND PROMPT SERVICES THAT ARE COMPETITIVE WITH THE MARKET AND CORRESPOND TO THE NEEDS OF OUR MEMBERS.	ActivityOrMissionDesc
Voting Members Governing Body	7	VotingMembersGoverningBodyCnt
Voting Members Independent	5	VotingMembersIndependentCnt
Total Employee	103	TotalEmployeeCnt
Total Volunteers	7	TotalVolunteersCnt
Total Gross UBI	$25,658	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$7,419,632	PYProgramServiceRevenueAmt
CY Program Service Revenue	$8,685,209	CYProgramServiceRevenueAmt
PY Investment Income	$6,425,680	PYInvestmentIncomeAmt
CY Investment Income	$9,564,103	CYInvestmentIncomeAmt
PY Other Revenue	$39,809	PYOtherRevenueAmt
CY Other Revenue	$25,658	CYOtherRevenueAmt
PY Total Revenue	$13,885,121	PYTotalRevenueAmt
CY Total Revenue	$18,274,970	CYTotalRevenueAmt
PY Grants And Similar Paid	$92,343	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$96,746	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$4,714,800	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$4,841,583	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$5,553,912	PYOtherExpensesAmt
CY Other Expenses	$7,836,044	CYOtherExpensesAmt
PY Total Expenses	$10,361,055	PYTotalExpensesAmt
CY Total Expenses	$12,774,373	CYTotalExpensesAmt
PY Revenues Less Expenses	$3,524,066	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$5,500,597	CYRevenuesLessExpensesAmt
Total Assets BOY	$520,943,774	TotalAssetsBOYAmt
Total Assets EOY	$508,496,724	TotalAssetsEOYAmt
Total Liabilities BOY	$468,965,967	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$444,865,823	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$51,977,807	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$63,630,901	NetAssetsOrFundBalancesEOYAmt
Mission	TO BECOME THE PRIMARY FINANCIAL SERVICES PROVIDER FOR OUR MEMBERS THROUGH OUR CONTINUAL EFFORT TO EXEMPLIFY COURTEOUS, RELIABLE, COMPREHENSIVE AND PROMPT SERVICES THAT ARE COMPETITIVE WITH THE MARKET AND CORRESPOND TO THE NEEDS OF OUR MEMBERS.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	SHARE DRAFTS AND MONEY MARKET ACCOUNTS - $230,906,456	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Desc	SHARE ACCOUNTS - $149,096,759	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Desc	CERTIFICATES OF DEPOSIT - $62,728,864	Desc

Field	Value	IRS element (for citing)
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	Yes (1)	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	9169	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	103	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	7	GoverningBodyVotingMembersCnt
Independent Voting Member	5	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (1)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	0	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	PATRICK WHITE	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	8107208300	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4411 CALKINS RD	AddressLine1Txt
City	FLINT	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48532	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd
PATRICK WHITE
CEO	40.00	Yes (X)	Yes (X)	$318,240	$0	$26,519
PATRICK HAGEDORN
COO/BOARD SECRETARY	3.00	Yes (X)	Yes (X)	$24,082	$0	$0
JEFFREY CLOTHIER
BOARD MEMBER	1.00	Yes (X)		$0	$0	$0
PATRICIA R GOOCH
BOARD PRESIDENT	1.00	Yes (X)		$0	$0	$0
SAM PARASCHOS
BOARD VICE PRESIDENT	1.00	Yes (X)		$0	$0	$0
JOSEPH EUFINGER
BOARD TREASURER	1.00	Yes (X)		$0	$0	$0
ANDRE WEATHERS
BOARD MEMBER	1.00	Yes (X)		$0	$0	$0
DANIEL FONDREN
VICE PRESIDENT OF FINANCE	40.00		Yes (X)	$165,940	$0	$49,543
JILL KRUYER
VICE PRESIDENT OF MEM SERV	40.00			$161,044	$0	$74,286	Yes (X)
MICHAEL FURST
VICE PRESIDENT OF LENDING	40.00			$162,220	$0	$6,490	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$831,526	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$156,838	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	4	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
FISERV
75 REMITTANCE DR STE 1649	CHICAGO	IL	60675	DATA PROCESSING	$606,314
THE KARMA GROUP
118 S ADAMS ST	GREEN BAY	WI	54301	MARKETING AND ADVERTISING	$327,725
VISA USA
PO BOX 742233	LOS ANGELES	CA	90074	DEBIT & CREDIT CARD PROCESSING	$298,240
FIS GLOBAL (METAVANTE)
PO BOX 4535	CAROL STREAM	IL	60197	ATM & DEBIT CARD PROCESSING	$212,685
FIS (CERTEGY)
11601 N ROOSEVELT BLVD	ST PETERSBURG	FL	33716	CREDIT CARD PROCESSING	$191,389

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	6	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
LOAN INCOME	522100	$5,568,449	$5,568,449
FEE INCOME	522100	$3,116,760	$3,116,760

Field	Value	IRS element (for citing)
Total Program Service Revenue	$8,685,209	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$9,564,103	TotalRevenueColumnAmt
Related Or Exempt Func Income	$9,564,103	RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
FINANCE & INSURANCE	520000	$21,113	$21,113
RENTAL ACTIVITIES	530000	$4,545	$4,545

Field	Value	IRS element (for citing)
Other Revenue Total	$25,658	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$18,274,970	TotalRevenueColumnAmt
Related Or Exempt Func Income	$18,249,312	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$25,658	UnrelatedBusinessRevenueAmt
Exclusion	$0	ExclusionAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	Yes (X)	InfoInScheduleOPartIXInd

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$96,746	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$584,324	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$3,214,450	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$184,512	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$570,490	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$287,807	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$34,042	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$75,394	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$105,000	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$28,815	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$575,529	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$866,618	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$754,795	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$406,002	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$18,612	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$3,239,051	TotalAmt

Payments To Affiliates PaymentsToAffiliatesGrp

Field	Value	IRS element (for citing)
Total	$16,957	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$348,540	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$117,599	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
DEBIT/CREDIT EXPENSES	$826,086
ATM EXPENSES	$226,413
MAINTENANCE	$204,600
PROVISION FOR LOAN LOSS	$145,111

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	-$153,120	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$12,774,373	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$1,580,737	BOYAmt
EOY	$1,351,176	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$58,014,236	BOYAmt
EOY	$58,955,496	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$504,641	BOYAmt
EOY	$898,186	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$118,769,875	BOYAmt
EOY	$129,471,839	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$282,065	BOYAmt
EOY	$201,557	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$10,423,100	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$5,855,415	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$4,576,814	BOYAmt
EOY	$4,567,685	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$308,835,449	BOYAmt
EOY	$284,783,516	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$17,522,002	BOYAmt
EOY	$17,908,339	EOYAmt

Intangible Assets IntangibleAssetsGrp

Field	Value	IRS element (for citing)
BOY	$39,650	BOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$10,818,305	BOYAmt
EOY	$10,358,930	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$520,943,774	BOYAmt
EOY	$508,496,724	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$1,426,285	BOYAmt
EOY	$2,133,744	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$467,539,682	BOYAmt
EOY	$442,732,079	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$468,965,967	BOYAmt
EOY	$444,865,823	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$51,977,807	BOYAmt
EOY	$63,630,901	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$51,977,807	BOYAmt
EOY	$63,630,901	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$520,943,774	BOYAmt
EOY	$508,496,724	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$5,500,597	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$6,878,139	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	-$725,642	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$937,807	OtherCostOrOtherBasisAmt
Book Value	$937,807	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$7,841,552	OtherCostOrOtherBasisAmt
Depreciation	$4,377,153	DepreciationAmt
Book Value	$3,464,399	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$56,361	OtherCostOrOtherBasisAmt
Depreciation	$44,833	DepreciationAmt
Book Value	$11,528	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,587,380	OtherCostOrOtherBasisAmt
Depreciation	$1,433,429	DepreciationAmt
Book Value	$153,951	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$4,567,685	TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)

DescDesc	AmtAmt
SHARE DRAFTS	$85,198,761
SHARES	$149,096,759
MONEY MARKET	$145,707,695
SHARE AND IRA CERTIFICATES	$62,728,864

Field	Value	IRS element (for citing)
Total Liability	$442,732,079	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$18,274,970	TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported	$0	RevenueNotReportedAmt
Revenue Subtotal	$18,274,970	RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt	$0	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$18,274,970	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$12,774,373	TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported	$0	ExpensesNotReportedAmt
Expenses Subtotal	$12,774,373	ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt	$0	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$12,774,373	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART X, LINE 2:	FormAndLineReferenceDesc
Explanation	THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION.	ExplanationTxt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Purpose Of GrantPurposeOfGrantTxt
HURLEY FOUNDATION
ONE HURLEY PLAZA	FLINT	MI	48503	383085047	501(C)(3)	$7,673	$0	CHARITABLE CONTRIBUTION
MCLAREN FOUNDATION
401 BALLENGER HWY	FLINT	MI	48532	382383119	501(C)(3)	$9,000	$0	CHARITABLE CONTRIBUTION
GENESEE COUNTY MEDICAL SOCIETY
4438 OAK BRIDGE DR SUITE B	FLINT	MI	48532	381347755	501(C)(3)	$16,000	$0	CHARITABLE CONTRIBUTION
EDUCATION FOUNDATION FOR FLINT COMMUNITY SCHOOLS
PO BOX 13443	FLINT	MI	48501	261289650	501(C)(3)	$7,500	$0	CHARITABLE CONTRIBUTION
LEADERFUND
250E SECOND ST	LAPER	MI	48446	473543286	501(C)(3)	$10,000	$0	CHARITABLE CONTRIBUTION

Field	Value	IRS element (for citing)
Total501c3 Org	5	Total501c3OrgCnt
Total Other Org	0	TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 2:	FormAndLineReferenceDesc
Explanation	SOVITA CREDIT UNION IS THE LEAD SPONSOR OF THE EDUCATION FOUNDATION FOR FLINT COMMUNITY SCHOOLS. ADDITIONALLY, A CREDIT UNION EMPLOYEE SITS ON THE FOUNDATION'S COMMITTEE. EACH MONTH, PRINCIPALS OF FLINT COMMUNITY SCHOOLS NOMINATE A TEACHER FROM HIS/HER SCHOOL TO BE RECOGNIZED BY THE FOUNDATION FOR OUTSTANDING PERFORMANCE. THE WINNER IS AWARDED A GIFT CARD AT A CEREMONY PUT ON BY THE FOUNDATION. THEN, ONCE A YEAR, THE FOUNDATION HOLDS A DINNER/AWARDS CEREMONY TO RECOGNIZE THOSE AWARDED THROUGHOUT THE YEAR AND TO PRESENT AWARDS TO OTHER EDUCATORS AND ADMINISTRATORS. CREDIT UNION PERSONNEL ATTEND THIS EVENT AS WELL. THE HURLEY AND MCLAREN FOUNDATIONS SUPPORT THE ACTIVITIES OF THE HOSPITALS BY PROVIDING FUNDING FOR EQUIPMENT AND ITEMS THAT SUPPORT THE HOSPITALS, STAFF, AND PATIENTS. CREDIT UNION PERSONNEL ATTEND EVENTS SPONSORED BY THE FOUNDATIONS AND SIT ON COMMITTEES THAT PLAN FUNDRAISING EVENTS AND ACTIVITIES. HIGHLIGHTS REGARDING EACH FOUNDATION'S USE OF FUNDS ARE SHARED WITH THE CREDIT UNION. THE GENESEE COUNTY MEDICAL SOCIETY PROVIDES EDUCATION AND TRAINING TO PHYSICIANS AND THEIR STAFF. THE CREDIT UNION PARTICIPATES IN THE EDUCATION AND TRAINING EVENTS AND COMMUNICATES REGULARLY WITH THE PRESIDENT AND BOARD ABOUT THE SOCIETY'S ACTIVITIES. THE LEADER FUND FINANCIALLY SUPPORTS ACADEMIC AND ATHLETIC ENDEAVORS WITHIN THE LAPEER COMMUNITY SCHOOLS IN ORDER TO ASSIST STUDENTS AND FACULTY IN THEIR PURSUIT OF EXCELLENCE. THE CREDIT UNION RECEIVES HIGHLIGHTS REGARDING THE FOUNDATION'S USE OF FUNDS AND COMMUNICATES WITH THE FOUNDATION CHAIRMAN ON FOUNDATION ACTIVITIES.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Travel For Companions	Yes (X)	TravelForCompanionsInd
Written Policy Ref T And E Expnss	Yes (1)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (1)	SubstantiationRequiredInd
Compensation Committee	Yes (X)	CompensationCommitteeInd
Written Employment Contract	Yes (X)	WrittenEmploymentContractInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (1)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
PATRICK WHITE
CEO	$299,466	$0	$2,250	$0	$16,524	$0	$8,474	$0	$18,045	$0	$344,759	$0	$0	$0
JILL KRUYER
VICE PRESIDENT OF MEM SERV	$158,016	$0	$2,250	$0	$778	$0	$0	$0	$74,286	$0	$235,330	$0	$0	$0
DANIEL FONDREN
VICE PRESIDENT OF FINANCE	$163,182	$0	$2,250	$0	$508	$0	$0	$0	$49,543	$0	$215,483	$0	$0	$0
MICHAEL FURST
VICE PRESIDENT OF LENDING	$158,592	$0	$2,250	$0	$1,378	$0	$0	$0	$6,490	$0	$168,710	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 4B	FormAndLineReferenceDesc
Explanation	THE CEO, PATRICK WHITE, PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN. AS OF DECEMBER 31, 2023, THE BALANCE OF THE DEFERRED COMPENSATION BENEFIT LIABILITY APPROXIMATED $182,000.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6	ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7A	WHEN A BOARD MEMBER'S TERM IS UP, WE HAVE AN ELECTION WHERE OUR MEMBERSHIP VOTES, TO EITHER RE-ELECT A DIRECTOR OR ELECT A NEW DIRECTOR.
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	INFORMATION IS PROVIDED TO A CPA FIRM THAT COMPILES THE RETURN. FORM 990 IS REVIEWED BY ACCOUNTANTS AND MANAGEMENT PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	TOP OFFICIALS AND ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST.
FORM 990, PART VI, SECTION B, LINE 15	CUNA COMPENSATION SURVEYS ARE USED BY BOARD OF DIRECTORS TO DETERMINE THE COMPENSATION OF OFFICERS AND TOP MANAGEMENT.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA NCUA.GOV.
FORM 990, PART IX, LINE 24E	TRAINING/DEVELOPMENT/EDUCATION 29,484. LOAN SERVICING -15,440. MISCELLANEOUS EXPENSES -167,164.
FORM 990, PART XI, LINE 9:	NET CHANGE IN UNREALIZED GAINS/(LOSSES) ON PENSION PLAN OBLIGATIONS -438,201. CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -287,441.
FORM 990, PART XII, LINE 2C:	WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE CREDIT UNION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.