2023-10-12T15:51:08-05:00 2022-12-31 FORVIS LLP 111 E Wayne St Suite 600 Fort Wayne IN 46802 990 2022-01-01 381441242 ELGA CREDIT UNION % TERRY KATZUR ELGA 8107153542 6065 GRAND POINTE BLVD GRAND BLANC MI 48439 TERRY KATZUR CEO 8107153542 2023-11-15 true TERRY KATZUR 999009999 Lauren R Denton P01571860 2604604000 3 2022 2023-04-26 12:10:37Z ELGA CREDIT UNION TERRY KATZUR CEO 6065 GRAND POINTE BLVD GRAND BLANC MI 48439 86734421 false X WWW.ELGACU.COM X 1951 MI PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS. 7 7 305 12 378940 0 0 0 67008922 76577288 1329007 4832167 3121532 5324966 71459461 86734421 0 0 0 0 18963534 22818814 0 0 0 29193313 35616289 48156847 58435103 23302614 28299318 1236875968 1416776548 1087187042 1256537450 149688926 160239098 PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS. false false THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARD, VEHICLE, AND OTHER. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/22 WAS 78,515. THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES, AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/22 WAS 90,097. false false false false false false false false false true false false false true false true false false false false false false false false false false false false true false true false false true false false false false false false false false false true 26408 0 true 305 true true true false false false false false false false X 7 7 false false false false true true true true true false true true true true true true true true true true false MI X TERRY KATZUR 8107153542 6065 GRAND POINT BLVD GRAND BLANC MI 48439 TERRY KATZUR CEO 40.0 0.0 X 776587 0 36366 DAVID BRANDT CFO 40.0 0.0 X 304358 0 41730 KAREN CHURCH CEO-RETIRED 2/22 40.0 0.0 X 245966 0 15967 KATHLEEN SMITH VP BRANCH OPERATIONS 40.0 0.0 X 216547 0 33733 MALLORY HAZARD VP OF CONSUMER LENDING 40.0 0.0 X 191843 0 34910 BRYAN RANDALL CIO 40.0 0.0 X 189714 0 23435 ROBERT CLONTZ III BRANCH MANAGER 40.0 0.0 X 164960 0 32072 CHADD OBRIEN GENERAL COUNSEL 40.0 0.0 X 169462 0 21291 AMY ZIMMER DIRECTOR OF MORTGAGE OPS 40.0 0.0 X 152575 0 22468 MATTHEW SMITH TREASURER 1.0 0.0 X X 0 0 0 JOSEPH BORIS VICE CHAIRPERSON 1.0 0.0 X X 0 0 0 HAROLD MOTT CHAIRPERSON 1.0 0.0 X X 0 0 0 DAVID HUTCHINS BOARD MEMBER 1.0 0.0 X 0 0 0 DIANA CURRIER BOARD SECRETARY 1.0 0.0 X X 0 0 0 SHEVEZE ANDERSON BOARD MEMBER 1.0 0.0 X 0 0 0 RODERICK SLAUGHTER BOARD MEMBER 1.0 0.0 X 0 0 0 2412012 0 261972 37 false true false KASASA LTD PO BOX 527 LUBBOCK TX 79408 PRODUCT SUPPORT 914110 SORENSEN GROSS COMPANY 111 E COURT ST FLINT MI 48502 CONSTRUCTION SERVICE 4117926 JACK HENRY ASSOCIATES INC PO BOX 609 LAWSON MO 65708 FINANCIAL SERVICES 674878 DOXIM INC 747 EAST WHITCOMB AVE MADISON HEIGHTS MI 48071 TECHNOLOGY SERVICES 503483 CDW DIRECT PO BOX 75723 CHICAGO IL 606755723 INFORMATION SECURITY 521614 26 0 FEES AND CHARGES 522100 11935877 11935877 INTERCHANGE INCOME 522100 11854609 11854609 INTEREST ON LOANS 522100 52627906 52627906 GAIN ON SALE OF LOANS 522100 158896 158896 76577288 4775182 4775182 0 0 0 0 0 0 56985 56985 56985 56985 0 0 0 0 0 0 0 0 0 INSURANCE REIMBURSEMENTS 524298 4946026 4946026 NON-MEMBER ATM FEES 525990 378940 378940 5324966 86734421 86298496 378940 56985 0 0 0 0 1634124 118872 15537388 918423 3169755 1440252 0 0 48271 0 0 0 0 4651578 5150878 2294883 0 1386827 290921 0 0 6699064 0 1993763 189458 ATM EXPENSE 3855835 ALLOWANCE FOR LOAN LOSSES 6083301 LOAN SERVICING EXPENSES 1977154 PROFESSIONAL SERVICES 994356 58435103 20868472 17195806 106815797 32293425 0 0 0 0 0 15599250 0 0 849409546 1093548626 0 0 1398453 1778168 56198807 22171485 30039957 34027322 201684943 191255451 10707190 11402771 0 0 0 0 15951610 19675729 1236875968 1416776548 11533789 13876100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1075653253 1242661350 1087187042 1256537450 X 0 0 0 0 149688926 160239098 149688926 160239098 1236875968 1416776548 X 28299318 -746001 -17003145 X false true X true true true 5400472 5400472 31396939 6669673 24727266 1061151 829468 231683 18340245 14672344 3667901 34027322 0 MEMBERS' SHARE ACCOUNTS 1228342029 FHLBI LOAN PAYABLE 14300000 ACCRUED INTEREST PAYABLE 19321 1242661350 85988420 -746001 -746001 86734421 86734421 58435103 58435103 58435103 PART X, LINE 2 ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. X X X false false false KAREN CHURCH CEO-RETIRED 2/22 92290 130386 23290 11674 4293 261933 TERRY KATZUR CEO 633534 126444 16609 20500 15866 812953 CHADD OBRIEN GENERAL COUNSEL 136265 29634 3563 14040 7251 190753 BRYAN RANDALL CIO 154391 34289 1034 15824 7611 213149 DAVID BRANDT CFO 246478 51015 6865 25864 15866 346088 ROBERT CLONTZ III BRANCH MANAGER 94844 67771 2345 10146 21926 197032 KATHLEEN SMITH VP BRANCH OPERATIONS 158158 53483 4906 16563 17170 250280 MALLORY HAZARD VP OF CONSUMER LENDING 119990 68531 3322 13038 21872 226753 AMY ZIMMER DIRECTOR OF MORTGAGE OPS 115944 35566 1065 10146 12322 175043 PART III, ADDITIONAL INFORMATION ALL EMPLOYEES, INCLUDING SENIOR MANAGEMENT, ARE INCLUDED IN EFFICIENCY GAIN PAYOUTS. PAYOUTS ARE BASED ON EFFICIENTY RATIO IMPROVEMENT OVER PRIOR 2-YEAR AVERAGE. TERRY KATZUR CEO SPLIT DOLLAR LIFE IN X 23577989 15599250 false true true 15599250 DUANE CHURCH EMPLOYEE - KAREN CHURCH FAMILY MEMBER 17900 COMPENSATION false DANA TALJONICK EMPLOYEE - KAREN CHURCH FAMILY MEMBER 100972 COMPENSATION false FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS OPEN TO ANYONE WHO LIVES, WORKS, WORSHIPS, VOLUNTEERS, OR ATTENDS SCHOOL WITHIN THE STATE OF MICHIGAN. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS THE GOVERNING BODY AND CONSISTS OF SEVEN DIRECTORS. THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERS AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE DECISIONS OF THE ORGANIZATION SUCH AS MERGERS ARE VOTED ON BY THE ENTIRE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT AND AN INDEPENDENT ACCOUNTING FIRM PRIOR TO FILING WITH THE IRS. THE BOARD OF DIRECTORS RECEIVE A COPY OF THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C LOANS TO EMPLOYEES ARE APPROVED BY MANAGEMENT. LOANS TO MANAGEMENT AND LOANS TO BOARD MEMBERS ARE APPROVED BY THE CREDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A 2022. EXECUTIVE AND EMPLOYEE SALARIES ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15B 2022. COMPENSATION POLICY AND COMPENSATION BUDGET ARE REVIEWED AND APPROVED BY BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 CREDIT UNION BYLAWS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE CREDIT UNION'S MAIN OFFICE. MONTHLY FINANCIAL STATEMENTS ARE DISPLAYED IN THE LOBBY WHICH IS ACCESSIBLE TO THE GENERAL PUBLIC. QUARTERLY FINANCIAL (CALL) REPORTS ARE ALSO AVAILABLE AT WWW.NCUA.GOV FOR ALL FEDERALLY INSURED CREDIT UNIONS. FORM 990, PART XI, LINE 9 CHANGE IN UNREALIZED GAIN OR LOSS ON AVAILABLE-FOR-SALE SECURITIES $-17,003,145