CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1628275)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-15
IRS object ID
202403209349320065
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 ReturnHeader

FieldValueIRS element (for citing)
Return2024-11-15T15:09:51-06:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN382492570PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DOEREN MAYHEWBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1305 WEST BIG BEAVER ROADAddressLine1Txt
CityTROYCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48084ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN381628275EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ALLIANCE CATHOLIC CREDIT UNIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlALLIBusinessNameControlTxt
Phone8779502228PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line128800 ORCHARD LAKE ROADAddressLine1Txt
CityFARMINGTON HILLSCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48334ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDAN DAVIDSONPersonNm
Person TitleEVP/COOPersonTitleTxt
Phone8779502228PhoneNum
Signature2024-11-15SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJACK C TRACYPreparerPersonNm
PTINP01974742PTIN
Phone2482443000PhoneNum
Preparation2024-11-15PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDAN DAVIDSONPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line128800 ORCHARD LAKE ROADAddressLine1Txt
CityFARMINGTON HILLSCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48334ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$30,608,113GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.ALLIANCECCU.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1956FormationYr
Legal Domicile StateMILegalDomicileStateCd
Activity Or MissionTO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.ActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee159TotalEmployeeCnt
Total Volunteers8TotalVolunteersCnt
Total Gross UBI$26,075TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$16,104,519PYProgramServiceRevenueAmt
CY Program Service Revenue$19,414,139CYProgramServiceRevenueAmt
PY Investment Income$3,862,093PYInvestmentIncomeAmt
CY Investment Income$7,531,701CYInvestmentIncomeAmt
PY Other Revenue$3,212,515PYOtherRevenueAmt
CY Other Revenue$3,662,273CYOtherRevenueAmt
PY Total Revenue$23,179,127PYTotalRevenueAmt
CY Total Revenue$30,608,113CYTotalRevenueAmt
PY Grants And Similar Paid$128,787PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$121,172CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$9,866,866PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$12,069,721CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$11,632,103PYOtherExpensesAmt
CY Other Expenses$17,875,253CYOtherExpensesAmt
PY Total Expenses$21,627,756PYTotalExpensesAmt
CY Total Expenses$30,066,146CYTotalExpensesAmt
PY Revenues Less Expenses$1,551,371PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$541,967CYRevenuesLessExpensesAmt
Total Assets BOY$638,619,506TotalAssetsBOYAmt
Total Assets EOY$637,845,786TotalAssetsEOYAmt
Total Liabilities BOY$592,252,763TotalLiabilitiesBOYAmt
Total Liabilities EOY$586,203,437TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$46,366,743NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$51,642,349NetAssetsOrFundBalancesEOYAmt
MissionTO PROVIDE TRUSTED FINANCIAL SERVICES, INSPIRED BY CATHOLIC VALUES AND TRADITIONS, TO ENHANCE THE FINANCIAL WELL-BEING OF OUR CATHOLIC COMMUNITY AND THE NEIGHBORS WE SERVE.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescPROVIDE 32,361 MEMBERS WITH REGULAR SHARES, CHRISTMAS CLUB, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT, AND IRAS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $570,215,000 AS OF DECEMBER 31, 2023.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
DescPROVIDE 28,894 LOANS INCLUDING NEW AND USED VEHICLES, REVOLVING CREDIT, TUITION, OVERDRAFT, COMMERCIAL, MORTGAGES, CREDIT CARDS AND STUDENTS LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $287,149,000 AS OF DECEMBER 31, 2023.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
DescOFFER ATM/DEBIT CARDS, WIRE TRANSAFERS, MONEY ORDERS, COURTESY PAY, GIFT CARDS, BILL PAY, SAFE DEPOSIT BOX RENTALS, CHECK CASHING, COIN COUNTING, SHARED BRANCHING, MOBILE BANKING AND VARIOUS INSURANCE PRODUCTS TO ALL ELIGIBLE MEMBERS.Desc
FieldValueIRS element (for citing)
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (1)ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (1)TransactionWithControlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document9651IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee159EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (1)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (1)Form990TFiledInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonSHARON BURNSPersonNm
Phone8779502228PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line128800 ORCHARD LAKE ROADAddressLine1Txt
CityFARMINGTON HILLSCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48334ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerIndKey EmployeeKeyEmployeeIndHighest Compensated EmployeeHighestCompensatedEmployeeInd
JOE VALENTIC
CHAIRPERSON1.00Yes (X)$0$0$0
KURT GODFREY
VICE CHAIRPERSON1.00Yes (X)$0$0$0
RICHARD SAAD
SECRETARY1.00Yes (X)$0$0$0
PHILLIP MOREY
TREASURER1.00Yes (X)$0$0$0
MARK VALERIUS
DIRECTOR1.00Yes (X)$0$0$0
THANE NAMY
DIRECTOR1.00Yes (X)$0$0$0
MIKE OPATIK
DIRECTOR1.00Yes (X)$0$0$0
VERONICA NORTH
ASSOCIATE DIRECTOR1.00Yes (X)$0$0$0
ROBERT GRECH
PRESIDENT/CEO40.00$472,371$0$321,372Yes (X)
DANIEL DAVIDSON
EVP/COO40.00$312,449$0$201,992Yes (X)
MICHAEL BAHORSKI
CFO40.00$119,385$0$10,287Yes (X)
RANDALL RICHMOND
CLO40.00$265,030$0$124,126Yes (X)
CHERYL MALLARD
CTO40.00$218,894$0$41,466Yes (X)
CHERYL ALLMACHER
VP DIGITAL TRANSFORMATION40.00$137,745$0$25,535Yes (X)
KEITH BURKE
VP-MARKETING40.00$136,103$0$32,981Yes (X)
CATHERINE MOREY
VP-RISK MANAGEMENT40.00$131,793$0$45,258Yes (X)
ADAM TONGE
VP-RETAIL40.00$134,400$0$17,489Yes (X)
THOMAS C LEDUC
CONSUMER PROTECTION40.00$137,063$0$11,030Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$2,065,233TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$831,536TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K13IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
MDT
30230 ORCHARD LAKE RDFARMINGTON HILLSMI48334TECHNOLOGY SERVICES$848,224
DOLPHIN DEBIT ACCESS
1340 RAYFORD PARK RDSPRINGTX77386ATM MANAGEMENT$540,294
AVALON TECHNOLOGIES
39533 WOODWARD AVE STE 125BLOOMFIELD HILLSMI48304TECHNOLOGY EQUIPMENT$402,419
ALKAMI TECHNOLOGY
PO BOX 122223DALLASTX75312DIGITAL BANKING$401,875
MCQUEEN FINANCIAL ADVISORS
PO BOX 87186CAROL STREAMIL60188INVESTMENT/ALM ADVISING$146,795
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K7CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtUnrelated Business RevenueUnrelatedBusinessRevenueAmt
INTEREST INCOME ON LOANS522100$14,903,427$14,903,427
FEE INCOME522100$4,484,637$4,484,637
FINANCE AND INSURANCE520000$26,075$26,075
FieldValueIRS element (for citing)
Total Program Service Revenue$19,414,139TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$7,531,701TotalRevenueColumnAmt
Exclusion$7,531,701ExclusionAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$72,534RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$0RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$72,534RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$72,534TotalRevenueColumnAmt
Exclusion$72,534ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
MISCELLANEOUS INCOME522100$2,344,811$2,344,811
INCOME FROM CUSOS522100$1,244,928$1,244,928
FieldValueIRS element (for citing)
Other Revenue Total$3,589,739OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$30,608,113TotalRevenueColumnAmt
Related Or Exempt Func Income$22,977,803RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$26,075UnrelatedBusinessRevenueAmt
Exclusion$7,604,235ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$121,172TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$2,087,372TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$8,373,207TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$338,610TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$588,904TotalAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$681,628TotalAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$392,684TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$10,307TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$73,578TotalAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$1,178,254TotalAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$357,376TotalAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$3,464,746TotalAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$159,355TotalAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$1,030,368TotalAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$15,516TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$5,549,607TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,678,536TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$145,854TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
LOAN SERVICING$2,153,186
PROVISION FOR LOAN LOSS$998,337
STAFF EXPENSES$437,680
MISCELLANEOUS EXPENSES$229,869

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$30,066,146TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$4,019,984BOYAmt
EOY$4,395,361EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$20,421,151BOYAmt
EOY$41,751,649EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$2,817,874BOYAmt
EOY$2,224,057EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$265,935,512BOYAmt
EOY$285,241,074EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$1,534,142BOYAmt
EOY$1,543,965EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$29,649,602LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$12,045,834LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$18,026,480BOYAmt
EOY$17,603,768EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$293,848,058BOYAmt
EOY$248,211,129EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$32,016,305BOYAmt
EOY$36,874,783EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$638,619,506BOYAmt
EOY$637,845,786EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$5,729,387BOYAmt
EOY$5,988,188EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
EOY$10,000,000EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$586,523,376BOYAmt
EOY$570,215,249EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$592,252,763BOYAmt
EOY$586,203,437EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$46,366,743BOYAmt
EOY$51,642,349EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$46,366,743BOYAmt
EOY$51,642,349EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$638,619,506BOYAmt
EOY$637,845,786EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$541,967ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$5,363,033NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets-$629,394OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,921,303OtherCostOrOtherBasisAmt
Book Value$2,921,303BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$17,299,893OtherCostOrOtherBasisAmt
Depreciation$4,717,866DepreciationAmt
Book Value$12,582,027BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,518,552OtherCostOrOtherBasisAmt
Depreciation$1,160,799DepreciationAmt
Book Value$357,753BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$5,245,066OtherCostOrOtherBasisAmt
Depreciation$4,050,347DepreciationAmt
Book Value$1,194,719BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,664,788OtherCostOrOtherBasisAmt
Depreciation$2,116,822DepreciationAmt
Book Value$547,966BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$17,603,768TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (3 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
AFS INVESTMENTS$227,481,129F
CERTIFICATES OF DEPOSIT$20,130,000F
PERPETUAL MEMBER CAPITAL$600,000C
FieldValueIRS element (for citing)
Total Book Value Securities$248,211,129TotalBookValueSecuritiesAmt

Other Assets Org OtherAssetsOrgGrp (11 entries)

DescDescBook ValueBookValueAmt
457B$540,212
ACCRUED INTEREST ON INVESTMENTS$993,652
ACCRUED INTEREST ON LOANS$821,785
CO-OP$487,270
CUSO INVESTMENT$16,492,442
DEFERRED COMPENSATION$5,014,776
FHLB STOCK$1,350,000
NCUSIF$5,498,819
OTHER ASSETS$3,292,027
RIGHT OF USE ASSETS$2,316,551
WORK IN PROGRESS$67,249
FieldValueIRS element (for citing)
Total Book Value Other Assets$36,874,783TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)

DescDescAmtAmt
CERTIFICATES OF DEPOSIT$99,727,817
IRA SHARES$16,938,006
MONEY MARKET$98,503,371
REGULAR SHARES$205,856,806
SHARE DRAFTS$149,189,249
FieldValueIRS element (for citing)
Total Liability$570,215,249TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)14), FROM FEDERAL AND STATE INCOME TAXES.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1ALLIANCE CATHOLIC FOUNDATION INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line128800 ORCHARD LAKE RDAddressLine1Txt
CityFARMINGTON HILLSCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48334ZIPCd
FieldValueIRS element (for citing)
Recipient EIN822671837RecipientEIN
IRC Section501(C)(3)IRCSectionDesc
Cash Grant$121,172CashGrantAmt
Non Cash Assistance$0NonCashAssistanceAmt
Purpose Of GrantSCHOLARSHIP FUNDPurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt
Total Other Org0TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHIS IS A CHARITABLE CONTRIBUTION, NOT A GRANT. HOWEVER, AS THE SPONSOR OF THE FOUNDATION, ALLIANCE CATHOLIC CREDIT UNION MONITORS THE CHARITABLE DONATIONS BY THE FOUNDATION TO ENSURE THEY ALIGN WITH THE FOUNDATION'S EXEMPT PURPOSE AND GIVING INITIATIVE.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation CommitteeYes (X)CompensationCommitteeInd
Written Employment ContractYes (X)WrittenEmploymentContractInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentYes (1)SeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (1)SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
ROBERT GRECH
PRESIDENT/CEO$389,739$0$81,150$0$1,482$0$293,612$0$27,760$0$793,743$0$0$0
DANIEL DAVIDSON
EVP/COO$274,774$0$37,020$0$655$0$182,265$0$19,727$0$514,441$0$0$0
RANDALL RICHMOND
CLO$232,963$0$29,271$0$2,796$0$101,678$0$22,448$0$389,156$0$0$0
CHERYL MALLARD
CTO$185,922$0$30,090$0$2,882$0$18,998$0$22,468$0$260,360$0$0$0
CATHERINE MOREY
VP-RISK MANAGEMENT$125,575$0$3,907$0$2,311$0$30,000$0$15,258$0$177,051$0$0$0
KEITH BURKE
VP-MARKETING$129,383$0$4,354$0$2,366$0$5,383$0$27,598$0$169,084$0$0$0
CHERYL ALLMACHER
VP DIGITAL TRANSFORMATION$130,904$0$4,436$0$2,405$0$15,079$0$10,456$0$163,280$0$0$0
ADAM TONGE
VP-RETAIL$130,232$0$3,818$0$350$0$9,468$0$8,021$0$151,889$0$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINES 4A-BFormAndLineReferenceDesc
ExplanationMICHAEL BAHORSKI: $61,921 THE CREDIT UNION HAS ESTABLISHED DEFERRED COMPENSATION AGREEMENTS FOR SELECT MEMBERS OF THE CREDIT UNION'S MANAGEMENT TEAM. THE CREDIT UNION INVESTED AN INITIAL AMOUNT OF $4,165,000. IN ACCORDANCE WITH THE AGREEMENT, THE CREDIT UNION HAS ESTABLISHED A LIABILITY FOR THE BENEFITS PAYABLE TO THE PARTICIPANTS WHICH IS EQUAL TO THE AMOUNT OF CUMULATIVE EARNINGS ON THE INITIAL AMOUNT INVESTED BY THE CREDIT UNION FOR EACH OF THE PLAN PARTICIPANTS. EARNINGS RECOGNIZED DURING THE YEAR ENDED DECEMBER 31, 2023 ARE INCLUDED IN EACH OF THE PARTICIPANTS DEFERRED COMPENSATION BENEFITS REPORTED IN PART VII/SCHEDULE J. THE BALANCE OF THE BENEFITS PAYABLE TO EACH PARTICIPANT AS OF DECEMBER 2023 WHERE AS FOLLOWS: ROBERT GRECH: $677,100 DANIEL DAVIDSON: $154,222 RANDALL RICHMOND: $82,093 MICHAEL BAHORSKI: $0 CHERYL MALLARD: $0ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING.
FORM 990, PART VI, SECTION A, LINE 7ABOARD MEMBERS ARE ELECTED BY MEMBER VOTE FOR 3 YEAR TERMS.
FORM 990, PART VI, SECTION A, LINE 7BMEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVE 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 11BTHE FORM 990 IS REVIEWED BY THE CFO PRIOR TO FILING AND IS PRESENTED TO THE BOARD OF DIRECTORS AT THE NEXT SCHEDULED MEETING.
FORM 990, PART VI, SECTION B, LINE 12CTHE BOARD DISCLOSES ANNUALLY AT THE ORGANIZATION MEETING AS PART OF THE DIRECTORSHIP POLICY.
FORM 990, PART VI, SECTION B, LINE 15THE CEO IS REVIEWED BY A COMPENSATION COMMITTEE WHICH USES HRN, AN INDEPENDENT CONSULTANT, AND COMPLETES A COMPENSATION SURVEY TO DETERMINE A WRITTEN CONTRACT THAT IS APPROVED BY THE BOARD OF DIRECTORS. KEY EMPLOYEES' COMPENSATION IS REVIEWED BY THE CEO.
FORM 990, PART VI, SECTION C, LINE 19FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. ALL OTHER GOVERNING DOCUMENTS AND THE CREDIT UNION'S CONFLICT OF INTEREST POLICY ARE AVAILABLE FOR REVIEW UPON REQUEST.
FORM 990, PART IX, LINE 11GPROFESIONAL & OUTSIDE SERVICES 1,178,254.
FORM 990, PART XI, LINE 9:CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -629,394.
FORM 990, PART XII, LINE 2CTHERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1MEMBER SECURITY PLUS LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line128800 ORCHARD LAKE ROADAddressLine1Txt
CityFARMINGTON HILLSCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48334ZIPCd
FieldValueIRS element (for citing)
EIN381433540EIN
Primary ActivitiesHOLDING COMPANYPrimaryActivitiesTxt
Legal Domicile StateMILegalDomicileStateCd
Total Income$0TotalIncomeAmt
End Of Year Assets$336,715EndOfYearAssetsAmt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1ALLIANCE CATHOLIC CREDIT UNIONBusinessNameLine1Txt

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1ALLIANCE CATHOLIC FOUNDATION INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line128800 ORCHARD LAKE RDAddressLine1Txt
CityFARMINGTON HILLSCityNm
State AbbreviationMIStateAbbreviationCd
ZIP48334ZIPCd
FieldValueIRS element (for citing)
EIN822671837EIN
Primary ActivitiesPUBLIC CHARITYPrimaryActivitiesTxt
Legal Domicile StateMILegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity StatusLINE 7PublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1ALLIANCE CATHOLIC CREDIT UNIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (1)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

FieldValueIRS element (for citing)
Business Name Line1ALLIANCE CATHOLIC FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Transaction TypeBTransactionTypeTxt
Involved$121,172InvolvedAmt
Method Of Amount DeterminationACCRUAL BASIS CONTRIBUTIONMethodOfAmountDeterminationTxt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.