2023-08-25T16:58:39-05:00 2022-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2022-01-01 381464920 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN-UNIVERSITY OF MICHIGAN CU CRED 7346628200 340 E HURON ANN ARBOR MI 48104 TOMAS KUSLIKIS CHIEF FINANCIAL OFFICER 7346628200 2023-08-25 1 TOMAS KUSLIKIS 999009999 0 JOSEPH A ZITO CPA P00648440 2482443000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TIFFANY FORD 340 E HURON ANN ARBOR MI 48104 52711293 0 X WWW.UMCU.ORG X 1954 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 9 9 238 11 64903 0 0 0 45891492 50065951 1410537 1532558 3528592 1112784 50830621 52711293 0 0 0 0 17021427 18060589 0 0 0 23545407 26233018 40566834 44293607 10263787 8417686 1323805807 1361434664 1218197122 1258464824 105608685 102969840 FINANCIAL SERVICES. THE UNIVERSITY OF MICHIGAN CREDIT UNION IS A FINANCIAL INSTITUTION CHARTERED IN THE STATE OF MICHIGAN. THE CREDIT UNION PROVIDES A WIDE RANGE OF FINANCIAL SERVICES TO THE MEMBER/OWNERS AT A REASONABLE COST. 0 0 PROVIDE 115,824 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, CLUB, AND BUSINESS ACCOUNTS TOTALING 231,899. PROVIDE 78,875 LOANS INCLUDING VEHICLE, CREDIT CARD, UNSECURED, STUDENT, INDIRECT, RECREATIONAL VEHICLE, MORTGAGE, BUSINESS, OVERDRAFT LINES OF CREDIT, AND CREDIT BUILDER. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, CHECK CASHING, BILL PAY, OVERDRAFT PROTECTION/COURTESY PAY, VARIOUS INSURANCE AND INVESTMENT PRODUCTS TO ALL ELIGIBLE MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13240 0 1 238 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X UNIVERSITY OF MICHIGAN CREDIT UNION 7346628200 340 E HURON ANN ARBOR MI 48104 PAUL KIRSCH DIRECTOR 3.00 X 0 0 0 LUKELAND GENTLES TREASURER 3.00 X 0 0 0 FRANK CIANCIOLA DIRECTOR 3.00 X 0 0 0 JAMES MIDDLEMAS DIRECTOR 3.00 X 0 0 0 MARY KRASNY DIRECTOR 3.00 X 0 0 0 VICTORIA BENNETT SECRETARY 3.00 X 0 0 0 KAREN PARKER CHAIRPERSON 3.00 X 0 0 0 EARL BELL VICE CHAIRPERSON 3.00 X 0 0 0 BENJIE JOHNSON DIRECTOR 3.00 X 0 0 0 TIFFANY FORD PRESIDENT/CEO 40.00 X 1192068 0 19000 TOMAS KUSLIKIS SR CHIEF FINANCIAL OFFICER 40.00 X 232062 0 29804 PATRICIA KEENE CHIEF HUMAN RESOURCES OFFICER 40.00 X 232868 0 21268 DEANNE RAMOS CHIEF RETAIL OFFICER 40.00 X 216977 0 25414 DONNA DOLEMAN CHIEF MARKETING OFFICER 40.00 X 154264 0 17404 TINA HAMILTON CHIEF LENDING OFFICER 40.00 X 211862 0 22263 XIANG WU CHIEF TECHNOLOGY OFFICER 40.00 X 190099 0 23761 MARCUS ENGLISH CHIEF DIGITAL OFFICER 40.00 X 192513 0 23250 ERICA BOTKA HUMAN RESOURCES MANAGER 40.00 X 117119 0 10997 JOSEPH LOUIS-FERDINAND NETWORK ADMIN MANAGER 40.00 X 127263 0 28180 MINAL KAMAT AVP BRANCH OPERATIONS 40.00 X 112184 0 26197 ROBIN CAMPBELL EXECUTIVE ASSISTANT 53.00 X 114312 0 14373 BRITTANY ZIELINKSI AVP BRANCH OPERATIONS 40.00 X 109336 0 9692 3202927 0 271603 18 0 1 0 JS VIG CONSTRUCTION COMPANY 15040 CLEAT STREET PLYMOUTH MI 48170 BUILDING CONSTRUCTION 4119471 DLI PROPERTIES LLC SUITE 200 2000 BUSH STREET DETROIT MI 48226 BRANDING AGREEMENT 850000 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742233 ATM/CREDIT CARD/DEBIT CARD CONTRACTS 811368 DOXIM PO BOX 933472 CLEVELAND OH 44193 BANK STATEMENTS & NOTICES 474476 DIEBOLD INCORPORATED PO BOX 643543 PITTSBURGH IL 152643543 ATM MAINTENANCE/CONTRACTS 446264 21 LOAN INTEREST 522100 36228301 36228301 FEE AND OTHER INCOME 522100 13837650 13837650 50065951 1532558 1532558 171599 0 171599 171599 171599 NON-OPERATING INCOME 522100 876282 876282 FINANCE AND INSURANCE 520000 64903 64903 941185 52711293 51113832 64903 1532558 X 2804877 11071661 3214378 969673 56336 169199 666438 2291528 995957 996777 1985990 57778 135133 3629341 2598989 169245 PROVISION FOR LOAN LOSS 3308522 VISA EXPENSE 2916014 LOAN SERVICING 2105614 MAINTENANCE 1668573 2481584 44293607 7217286 9395497 62906791 17950360 9166044 4941850 905465167 1057771812 2027457 1781575 72455343 22160343 52675547 50295000 264017087 186881959 3771738 7123625 6773 16551917 25292986 1323805807 1361434664 14964849 18337652 62806824 88806824 1140425449 1151320348 1218197122 1258464824 X 0 0 0 0 105608685 102969840 105608685 102969840 1323805807 1361434664 X 8417686 -11251321 194790 X X 0 1 X 1 0 19993005 19993005 21721229 4681558 17039671 3654345 2455938 1198407 14537433 12320047 2217386 12549331 2702800 9846531 50295000 MEMBER SHARES 1151320348 1151320348 X 52711293 0 52711293 0 52711293 44293607 0 44293607 0 44293607 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO URELATED BUSINESS INCOME TAX. THE NET UNRELATED BUSINESS INCOME TAX IS IMMATERIAL TO THE FINANCIAL STATEMENTS AS A WHOLE. X X 0 1 0 TIFFANY FORD PRESIDENT/CEO 635553 0 543680 0 12835 0 19000 0 0 0 1211068 0 0 0 TOMAS KUSLIKIS SR CHIEF FINANCIAL OFFICER 201262 0 30500 0 300 0 21597 0 8207 0 261866 0 0 0 PATRICIA KEENE CHIEF HUMAN RESOURCES OFFICER 200388 0 30500 0 1980 0 15769 0 5499 0 254136 0 0 0 DEANNE RAMOS CHIEF RETAIL OFFICER 185787 0 30500 0 690 0 19957 0 5457 0 242391 0 0 0 TINA HAMILTON CHIEF LENDING OFFICER 181062 0 30500 0 300 0 16806 0 5457 0 234125 0 0 0 MARCUS ENGLISH CHIEF DIGITAL OFFICER 161237 0 31000 0 276 0 17793 0 5457 0 215763 0 0 0 XIANG WU CHIEF TECHNOLOGY OFFICER 159149 0 30500 0 450 0 17604 0 6157 0 213860 0 0 0 DONNA DOLEMAN CHIEF MARKETING OFFICER 153304 0 500 0 460 0 14062 0 3342 0 171668 0 0 0 JOSEPH LOUIS-FERDINAND NETWORK ADMIN MANAGER 119506 0 6000 0 1757 0 12690 0 15490 0 155443 0 0 0 PART I, LINE 4B CERTAIN EXECUTIVES PARTICIPATE IN A NONQUALIFIED 457(B) RETIREMENT PLAN. BELOW ARE THE PARTICIPANTS AND THE CONTRIBUTIONS EACH OF THEM MADE TO THEIR 457(B) PLAN DURING 2022. XIANG WU: $1,228 TOMAS KUSLIKIS: $5,979 TIFFANY FORD: $13,376 FORM 990, PART VI, SECTION A, LINE 6 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 ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING FOR A THREE YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN CREDIT UNION DECISIONS ARE SUBJECT TO MEMBER APPROVAL SUCH AS CHARTER CONVERSIONS AND MERGERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C A REVIEW OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS CONDUCTED ANNUALLY BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 AN OUTSIDE FIRM SPECIALIZING IN COMPENSATION BENCHMARKS IS USED TO SET GUIDELINES FOR SALARY RANGE LEVELS BASED ON COMPETITION AND MARKET RATES. THE SALARY STRUCTURE IS REVIEWED PERIODICALLY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PUBLISHED MONTHLY. ALL OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 24E TRANSACTIONS 812,411. EMPLOYEE APPRECIATION/RECRUITING 595,914. STAFF EDUCATION 394,255. SERVICE CHARGES 339,212. EXAMINATION FEES 177,135. MISCELLANEOUS 162,657. FORM 990, PART XI, LINE 9: OCI ADJUSTMENT - NET GAIN ON POST-RETIREMENT HEALTH CARE PLAN 187,761. AMORTIZATION OF NET LOSS ON POST-RETIREMENT HEALTH CARE PLAN 7,029. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.