2024-10-01T10:56:02-05:00 2023-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2023-01-01 386060726 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 2699689251 PO BOX 140 BATTLE CREEK MI 490160140 TRACY MILLER CEO 2699689251 2024-08-15 1 0 JACK C TRACY P01974742 2482443000 2023 2024-10-15 13:58:12Z KELLOGG COMMUNITY CREDIT UNION TRACY MILLER PO BOX 140 BATTLE CREEK MI 490160140 47356706 0 X WWW.KELLOGGCCU.ORG X 1941 MI KCCU IS A FULL-SERVICE FINANCIAL INSTITUTION SERVING FAMILIES FOR DECADES. YOUR CREDIT UNION PROVIDES MORE OPPORTUNITY THAN OTHER FINANCIAL INSTITUTIONS BECAUSE IT IS OWNED AND GOVERNED BY THE PEOPLE WHO UTILIZE ITS PRODUCTS AND SERVICES. EVERY MEMBER OWNS A SHARE OF THE CREDIT UNION AND THE CREDIT UNION OPERATES TO PROMOTE THE FINANCIAL WELL-BEING OF ALL ITS MEMBERS. 9 9 155 12 174323 0 0 0 36412718 41663660 3778537 5311552 238832 174323 40430087 47149535 21565 16000 0 0 11340242 11532407 0 0 0 16141206 22933994 27503013 34482401 12927074 12667134 830760566 857416206 716268496 731239097 114492070 126177109 X KCCU IS A FULL-SERVICE FINANCIAL INSTITUTION SERVING FAMILIES FOR DECADES. YOUR CREDIT UNION PROVIDES MORE OPPORTUNITY THAN OTHER FINANCIAL INSTITUTIONS BECAUSE IT IS OWNED AND GOVERNED BY THE PEOPLE WHO UTILIZE ITS PRODUCTS AND SERVICES. EVERY MEMBER OWNS A SHARE OF THE CREDIT UNION, AND THE CREDIT UNION OPERATES TO PROMOTE THE FINANCIAL WELL-BEING OF ALL ITS MEMBERS. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 15113 0 1 155 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 0 1 1 1 0 X TRACY MILLER 8008545421 PO BOX 140 BATTLE CREEK MI 490160140 MARIE SMITH VICE CHAIRPESON 1.00 X 0 0 0 HENRY PAT ROLFE CHAIRPERSON 1.00 X 0 0 0 MELISSA MILLER SECRETARY 1.00 X 0 0 0 ROGER E PITZER TREASURER 1.00 X 0 0 0 CHIRSTOPHER DEMAREST DIRECTOR 1.00 X 0 0 0 CAROL CASEY DIRECTOR/SUPERVISORY COMMI 1.00 X 0 0 0 E PAUL CHAMBERS DIRECTOR 1.00 X 0 0 0 MICHAEL BOUMA DIRECTOR 1.00 X 0 0 0 RICHARD SMITH EMERITUS DIRECTOR 0.00 X 0 0 0 LARRY HAWBLITZ EMERITUS DIRECTOR 0.00 X 0 0 0 TRACY MILLER CEO 38.00 1.00 X 444918 0 51960 ANTHONY JERRY WRIGHT CFO 38.00 1.00 X 203973 0 30956 KATE PRATLEY CHIEF RISK OFFICER 38.00 X 95423 0 16743 AMBER MALLERNEE CCO 38.00 1.00 X 191357 0 34132 LINDSEY R LAW CLO 38.00 1.00 X 224305 0 21700 JERALD PAWLOWICZ FINANCIAL ADVISOR 37.50 1.00 X 176388 0 28796 RICK ALBAUGH VP OF IT 37.50 1.00 X 123925 0 21306 KELSEY MCALLASTER VP OF RETAIL 37.50 X 119742 0 16145 JESSICA BISSENDEN VP OF HR 37.50 X 117357 0 8853 KIRK SCHWARZ SENIOR BUSINESS DEVELOPMEN 37.50 1.00 X 108093 0 29481 1805481 0 260072 12 0 1 0 CU ANSWERS 6000 28TH ST SE GRAND RAPIDS MI 49546 CORE PROCESSOR 1151741 PRIORITY HEALTH 1231 EAST BELTLINE NE GRAND RAPIDS MI 49525 HEALTH INSURANCE PROVIDER 998899 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 DEBIT/CREDIT CARD PROCESSOR 864737 TRACE3 PO BOX 603915 CHARLOTTE NC 28260 IT 694085 CORNELIUS SYSTEMS 1302 ANDERSON RD CLAWSON MI 48017 CASH RECYCLER EQUIPMENT PROVIDER 541040 26 INCOME ON LOANS 522100 30680034 30680034 FEES/CHARGES/OTHER 522100 10983626 10983626 41663660 5070796 5070796 447927 207171 240756 240756 240756 FINANCE & INSURANCE 520000 174323 174323 174323 47149535 46975212 174323 0 X 16000 1315467 7939808 571851 1018759 686522 13904 144000 123114 120832 1419641 2111888 97616 1083796 38760 79819 10014380 65774 1311175 157939 PROVISION FOR LOAN LOSS 1912144 LOAN SERVICING 1687286 ATM EXPENSES 1457020 MAINTENANCE 816492 278414 34482401 5806894 5714672 43067938 71514552 193515 599232 750000 750000 617676705 640897301 797356 1177133 25477683 13022391 12727091 12455292 108871474 97245159 24545900 10663900 16323693 16398965 830760566 857416206 13127998 12515328 703140498 718723769 716268496 731239097 X 0 0 0 0 114492070 126177109 114492070 126177109 830760566 857416206 X 12667134 865790 -1847885 X X 0 1 X 1 0 2141838 2141838 11243423 4230569 7012854 3077226 1698690 1378536 9015196 7093132 1922064 12455292 MEMBER SHARES 718723769 718723769 X 47149535 0 47149535 0 47149535 34482401 0 34482401 0 34482401 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL AND STATE INCOME TAXES. 1 SCHOLARSHIP 10 10000 TEACHER GRANTS 15 6000 FORM 990, SCHEDULE I, PART III KCCU AWARDS A ONE-TIME $1,000 SCHOLARSHIP TO 10 KCCU MEMBERS. ALL KCCU MEMBERS WHO ARE PLANNING TO ATTEND OR CURRENTLY ATTEND AN ACCREDITED MICHIGAN COLLEGE OR UNIVERSITY OR ARE WORKING TOWARDS A CERTIFICATION OR DEGREE PROGRAM IN THE TRADES AT STATE SUPPORTED COMMUNITY COLLEGES ARE ELIGIBLE FOR THE SCHOLARSHIP. KCCU TEACHER GRANT PROGRAM IS A $400 AWARD GIVEN TO 15 TEACHERS TO BE USED FOR EQUIPMENT, EDUCATIONAL SOFTWARE, BOOKS, SPECIAL MATERIALS, OR ANY OTHER TOOLS TO HELP WITH THE EDUCATION OF OUR FUTURE GENERATION OF LEADERS! ALL APPLICANTS MUST BE PROFESSIONALLY CERTIFIED EDUCATORS TEACHING PRE-K THROUGH 12TH GRADE, AND PLAN TO CONTINUE TEACHING IN THE PROCEEDING SCHOOL YEAR. ONE APPLICATION IS ALLOWED PER TEACHER, PER SCHOOL YEAR. TEACHERS ARE THE ONLY INDIVIDUALS THAT CAN APPLY/NOMINATE THEMSELVES. STUDENTS, PARENTS, COMMUNITY MEMBERS, ADMINISTRATORS, ETC. CANNOT NOMINATE THEIR FAVORITE EDUCATORS. TEACHERS MUST BE AN EDUCATOR AT A SCHOOL THAT IS WITHIN KCCU'S FIELD OF MEMBERSHIP. APPLICANT DO NOT NEED TO BE A MEMBER OF KCCU TO APPLY AND KCCU EMPLOYEES, IMMEDIATE FAMILY MEMBERS OF KCCU EMPLOYEES, DIRECTORS, OR OFFICERS ARE NOT ELIGIBLE. X 1 1 X X X 0 1 0 TRACY MILLER CEO 364862 0 80056 0 0 0 31674 0 20286 0 496878 0 0 0 LINDSEY R LAW CLO 166015 0 58290 0 0 0 16430 0 5270 0 246005 0 0 0 ANTHONY JERRY WRIGHT CFO 166833 0 37140 0 0 0 16374 0 14582 0 234929 0 0 0 AMBER MALLERNEE CCO 140778 0 50579 0 0 0 13846 0 20286 0 225489 0 0 0 JERALD PAWLOWICZ FINANCIAL ADVISOR 31732 0 144656 0 0 0 14006 0 14790 0 205184 0 0 0 PART I, LINE 4B TRACY MILLER PARTICIPATES IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMENTAL RETIREMENT PLAN. THE LOAN RELATED THIS PLAN IS REPAID TO THE CREDIT UNION THROUGH THE RECOVERY OF ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. AT SPECIFIED TIMES, THE PARTICIPANT RECEIVES BENEFIT PAYOUTS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. TRACY MILLER CEO SPLIT DOLLAR COLLATERAL ASSIGNMENT - RETIREMENT X 750000 750000 0 1 1 750000 FORM 990, SCH L, PART II TRACY MILLER PARTICIPATES IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMENTAL RETIREMENT PLAN. THE LOAN RELATED THIS PLAN IS REPAID TO THE CREDIT UNION THROUGH THE RECOVERY OF ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. AT SPECIFIED TIMES, THE PARTICIPANT RECEIVES BENEFIT PAYOUTS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE ELECTED BY CREDIT UNION MEMBERSHIP IF ELECTION IS NEEDED. 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 CFO AND FINANCIAL OPERATIONS MANAGER ARE RESPONSIBLE FOR OVERSEEING THE COMPLETION AND REVIEW OF THE FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL REVIEWS ARE CONDUCTED ALONG WITH SALARY COMPARISON OF CREDIT UNIONS WITH SIMILAR TOTAL ASSETS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E MISCELLANEOUS 224,875. VISA EXPENSES 53,539. FORM 990, PART XI, LINE 9: NET CHANGE IN UNREALIZED GAINS/(LOSSES) ON POST RETIREMENT BENEFIT PLAN -19,538. CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -1,828,347. FORM 990, PART XII, LINE 2C WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. KCFCU PROPERTIES LLC PO BOX 140 BATTLE CREEK MI 49016 274828583 BRANCH AND FACILITY RENTAL MI 27028 0 KELLOGG COMMUNITY CREDIT UNION KCCU SERVICES LLC PO BOX 140 BATTLE CREEK MI 49016 274828478 STAFFING SERVICES FOR CREDIT UNION MI -117 0 KELLOGG COMMUNITY CREDIT UNION KCCU INSURANCE AGENCY LLC PO BOX 140 BATTLE CREEK MI 49016 452600909 INSURANCE SERVICES MI 47822 0 KELLOGG COMMUNITY CREDIT UNION FORM 990, SCHEDULE R, PART I KCFCU PROPERTIES, LLC, KCCU SERVICES, LLC, AND KCCU INSURANCE AGENCY, LLC WERE DISSOLVED EFFECTIVE OCTOBER 1, 2023. ACTIVITY BETWEEN JANUARY 1, 2023 AND SEPTEMBER 30, 2023 IS REPORTED IN PART I FOR EACH ENTITY. HOWEVER, TOTAL ASSETS AS OF DECEMBER 31, 2023 WERE $0 AS A RESULT OF THE DISSOLUTION.