2023-05-08T16:05:02-04:00 2022-12-31 382210508 ADDISON & ADDISON PC 20630 HARPER AVE STE 110 HARPER WOODS MI 48225 990 2022-01-01 380480170 DIVERSIFIED MEMBERS CREDIT UNION DIVE 3135685000 1480 EAST JEFFERSON AVENUE DETROIT MI 48207 KEVIN O'CONNOR CFO 3135685000 2023-04-27 true KEVIN OCONNOR XXX-XX-XXXX true JOHN T ADDISON II P01386149 3138814181 2023-04-27 2022 2023-04-26 12:10:37Z KATHIE TREMBATH 1480 EAST JEFFERSON AVENUE 1480 EAST JEFFERSON AVENUE DETROIT MI 48207 22003363 false X WWW.DMCU.COM X CREDIT UNION 1929 MI TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. 9 9 115 0 0 10479691 12868862 4021412 4458285 4142354 4676216 18643457 22003363 0 0 7078511 7998082 0 0 9706572 12351296 16785083 20349378 1858374 1653985 516558136 485865565 430651759 414205521 85906377 71660044 X TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. false false TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. false false false false false false false false false true false false false true true true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 5294 0 true 115 true false false false false false false false false X 9 9 false false false false true true true true true false false false true true true true true true true false X KATHIE TREMBATH 3135685000 1480 EAST JEFFERSON AVENUE DETROIT MI 48207 KATHIE TREMBATH CEO 40.00 X 351807 0 0 KEVIN O'CONNOR CFO 40.00 X 222990 0 0 SATI SMITH COO 40.00 X 184707 0 0 JANISSE GREEN DIRECTOR X 0 0 0 DAVID BROOKS III VICE CHAIR X X 0 0 0 CARL JARBOE DIRECTOR X 0 0 0 DARREN JOHNSON DIRECTOR X 0 0 0 ALBERT PATRICK JR DIRECTOR X 0 0 0 ANTHONY LAMERATO DIRECTOR X 0 0 0 JEROME POKORSKI SECRETARY X X 0 0 0 ANDREW POLLACK TREASURER X X 0 0 0 PAMELA SCALES CHAIRPERSON X X 0 0 0 759504 3 false true false CU COOPERATIVE CU COOPERATIVE 21840 WEST NINE MILE ROAD 21840 WEST NINE MILE ROAD SOUTHFIELD MI 48075 CUSO 1073851 CU ANSWERS CU ANSWERS 6000 28TH STREET STE 100 6000 28TH STREET STE 100 GRAND RAPIDS MI 49546 COMP SVC BUREAU 647491 HOLZMAN LAW PLLC HOLZMAN LAW PLLC 28366 FRANKLIN ROAD 28366 FRANKLIN ROAD SOUTHFIELD MI 48034 LEGAL,COLLECT'N 230963 REBUILD GROUP REBUILD GROUP 2921 EAST GRAND BLVD STE 200 2921 EAST GRAND BLVD STE 200 DETROIT MI 48202 MARKETING & ADV 154980 4 INTEREST ON LOANS 12868862 12868862 12868862 4458285 4458285 FEES & OTHER 4676216 4676216 4676216 22003363 22003363 759504 759504 5679713 5679713 -169175 -169175 1245867 1245867 482173 482173 54196 54196 45998 45998 238759 238759 20836 20836 1129713 1129713 1237304 1237304 464505 464505 549233 549233 493910 493910 2391998 2391998 587085 587085 83197 83197 ALL OTHER EXPENSES 2497957 2497957 SVC CTR, ATM & SH DRAFTS 1298429 1298429 PROV FOR LOAN LOSSES 689500 689500 BUSINESS LOAN SERVICING 568676 568676 20349378 20349378 0 0 3887522 4178661 38626339 4388681 1250870 1743926 244196926 295700515 7680498 1935792 8705676 5818204 14274098 7360708 7350605 6913390 195900397 153154159 503163 495378 8456140 11536859 516558136 485865565 3995537 5159965 426656222 409045556 430651759 414205521 X 85906377 71660044 85906377 71660044 516558136 485865565 X 1653985 -19673264 3772946 X false true X true false 2126410 2126410 11324777 6824477 4500300 822911 536231 286680 6913390 REGULAR SHARES 227597426 SHARE CERTIFICATES 110570669 IRA ACCOUNTS 38228928 DRAFT & CHRISTMAS CLUB ACCOUNTS 29903546 ACCRUED POST-RETIRE EMP BEN 2744987 409045556 X 22003363 22003363 22003363 20349378 20349378 20349378 SCHEDULE D, PAGE 3, PART X THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. STATE CHARTERED CREDIT UNIONS ARE TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(14)(A). AS SUCH, THE CREDIT UNION HAS NO UNCERTAION TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST OR PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. X false false false KATHIE TREMBATH CEO 351807 351807 KEVIN O'CONNOR CFO 222990 222990 SATI SMITH COO 184707 184707 KATHIE TREMBATH CEO MORTGAGE X 410000 399847 false true true ANTHONY LAMERATO DIR HOME EQUITY X 288762 286464 false true true KATHIE TREMBATH CEO MORTGAGE X 250000 244115 false true true KEVIN O'CONNOR CFO MORTGAGE X 258000 238776 false true true ANTHONY LAMERATO DIR HOME EQUITY X 150000 121264 false true true SATI SMITH COO VEHICLE LOAN X 93464 93464 false true true JANISSE GREEN DIRECTOR HOME EQUITY X 100000 86027 false true true KEVIN O'CONNOR CFO H/E LOC X 50000 48861 false true true PAMELA SCALES CHAIR VEHICLE LOAN X 45799 42237 false true true KATHIE TREMBATH CEO VEHICLE LOAN X 68000 40485 false true true JANISSE GREEN DIRECTOR MORTGAGE X 86400 34310 false true true KATHIE TREMBATH CEO CHARGE CARD X 25000 24857 false true true KATHIE TREMBATH CEO BILL CONSOLIDATION X 49754 18930 false true true KATHIE TREMBATH CEO VEHICLE LOAN X 35900 18121 false true true PAMELA SCALES CHAIR HOME EQUITY X 15000 11452 false true true KEVIN O'CONNOR CFO CHARGE CARD X 10000 9946 false true true KATHIE TREMBATH CEO VEHICLE LOAN X 21500 9783 false true true KEVIN O'CONNOR CFO REVOLVING LOC X 9000 6998 false true true KATHIE TREMBATH CEO REVOLVING LOC X 10000 6014 false true true PAMELA SCALES CHAIR CHARGE CARD X 7456 1417 false true true SATI SMITH COO CHARGE CARD X 4000 558 false true true 1743926 SCHEDULE L, PART II JANISSE GREEN FROM 86,400 34,310 MORTGAGE ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT KATHIE TREMBATH FROM 25,000 24,857 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT KATHIE TREMBATH FROM 49,754 18,930 BILL CONSOLIDATION ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT KATHIE TREMBATH FROM 35,900 18,121 VEHICLE LOAN ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT PAMELA SCALES FROM 15,000 11,452 HOME EQUITY ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT KEVIN O'CONNOR FROM 10,000 9,946 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT KATHIE TREMBATH FROM 21,500 9,783 VEHICLE LOAN ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT KEVIN O'CONNOR FROM 9,000 6,998 REVOLVING LOC ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT KATHIE TREMBATH FROM 10,000 6,014 REVOLVING LOC ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT PAMELA SCALES FROM 7,456 1,417 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT SATI SMITH FROM 4,000 558 CHARGE CARD ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT FORM 990, PAGE 2, PART III, LINE 4D TO PROVIDE FRIENDLY, PERSONAL, FINANCIAL SERVICES IN A PROFESSIONAL ATMOSPHERE TO ALL MEMBERS. FORM 990, PAGE 6, PART VI, LINE 6 A MEMBER MUST HOLD ONE (1) FULLY PAID SHARE (PAR VALUE 5.00) AND MEET THE REQUIREMENTS STATED IN THE CREDIT UNION'S BYLAWS TO RETAIN MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 7A THE ORGANIZATION'S MEMBERS (SHAREHOLDERS) ELECT THE ORGANIZATION'S GOVERNING BODY (DIRECTORS) ANNUALLY IN ACCORDANCE WITH THE CREDIT UNION'S BYLAWS. FORM 990, PAGE 6, PART VI, LINE 7B APPROVAL OF THE ORGANIZATION'S MEMBERS IS REQUIRED TO CHANGE THE CREDIT UNION'S BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS, DIRECTORS, & COMMITTEE MEMBERS ARE REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION OF THE CEO INCLUDES A REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PAGE 6, PART VI, LINE 15B THE PROCESS FOR DETERMINING COMPENSATION OF OTHER EMPLOYEES INCLUDES A REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PAGE 6, PART VI, LINE 19 THE BYLAWS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY ON A MONTHLY BASIS. FORM 990, PART XI, LINE 9 CHANGES IN ACCUM OTHER COMP LOSS: 0 DEFINED BENEFIT PLAN: 0 CHANGE IN UNRECOG PRIOR SVC COST 367 CHANGE IN UNRECOG NET ACTUARIAL LOSS (GAIN) 2,486,760 RETIREE MEDICAL BENEFITS PLAN: 0 CHANGE IN UNRECOG PRIOR SVS COST 42,684 CHANGE IN UNRECOG NET ACTUARIAL LOSS (GAIN) 1,243,135 TOTAL 3,772,946