2023-11-13T14:26:48-06:00 2022-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2022-01-01 386060726 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 2699689251 PO BOX 140 BATTLE CREEK MI 490160140 TRACY MILLER CEO 2699689251 2023-11-13 1 TRACY MILLER XXX-XX-XXXX 0 JACK C TRACY P01974742 2482443000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KELLOGG COMMUNITY CREDIT UNION TRACY MILLER PO BOX 140 BATTLE CREEK MI 490160140 41018638 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 9 205 12 238832 0 0 0 34016934 36412718 2527804 3778537 151554 238832 36696292 40430087 15765 21565 0 0 10039537 11340242 0 0 0 16068929 16141206 26124231 27503013 10572061 12927074 818090752 830760566 706920669 716268496 111170083 114492070 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 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 13222 0 1 205 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 HENRY PAT ROLFE CHAIRPERSON 1.00 X 0 0 0 ROGER E PITZER TREASURER 1.00 X 0 0 0 CAROL CASEY DIRECTOR/SUPERVISORY COMMITTEE CHAI 1.00 X 0 0 0 MICHAEL BOUMA DIRECTOR 1.00 X 0 0 0 MELISSA MILLER SECRETARY 1.00 X 0 0 0 E PAUL CHAMBERS DIRECTOR 1.00 X 0 0 0 MARIE SMITH VICE CHAIRPESON 1.00 X 0 0 0 CJ DEMAREST DIRECTOR 1.00 X 0 0 0 TRACY MILLER CEO 37.50 1.00 X 371334 0 46479 AMBER MALLERNEE CCO 37.50 1.00 X 142566 0 31233 LINDSEY R LAW CLO 37.50 1.00 X 170477 0 14461 ANTHONY WRIGHT CFO 37.50 1.00 X 156796 0 27896 KIRK SCHWARZ SENIOR BUSINESS DEVELOPMENT OFFICER 37.50 1.00 X 124109 0 29113 JERALD PAWLOWICZ FINANCIAL ADVISOR 37.50 1.00 X 124295 0 25416 RICK ALBAUGH VP OF IT 37.50 1.00 X 106662 0 20836 KATIE L FULLMER MORTGAGE LOAN ORIGINATOR 37.50 1.00 X 107861 0 14641 RORI ROSS VP OF MARKETING 37.50 1.00 X 106565 0 8479 1410665 0 218554 9 0 1 0 CU ANSWERS 6000 28TH ST SE GRAND RAPIDS MI 49546 CORE PROCESSOR 1161189 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 DEBIT/CREDIT CARD PROCESSOR 626015 WORLDPAY HOLDING LLC 8500 GOVERNORS HILL DR SYMMES TOWNSHIP OH 45249 DEBIT/CREDIT CARD PROCESSOR 453211 TRACE3 PO BOX 603915 CHARLOTTE NC 28260 IT 439450 NYCE CORPORATION 4900 W BROWN DEER DR MILWAUKEE WI 53223 DEBIT/CREDIT CARD PROCESSOR 276756 16 INCOME ON LOANS 522100 25435137 25435137 FEES/CHARGES/OTHER 522100 10977581 10977581 36412718 3457930 3457930 909158 588551 320607 320607 320607 FINANCE & INSURANCE 520000 238832 238832 238832 40430087 40191255 238832 0 X 11565 10000 961242 8213908 528688 939701 696703 6683 174687 94570 88638 1343700 2004955 83034 1106639 19272 51045 4387559 56252 1238315 130040 ATM EXPENSES 1766130 LOAN SERVICING 1689764 PROVISION FOR LOAN LOSS 966878 MAINTENANCE 684249 248796 27503013 5411981 5806894 76205586 43067938 93339 193515 750000 750000 549040444 617676705 540221 797356 26710128 13983037 12573898 12727091 113115746 108871474 49389500 24545900 3567 10966470 16323693 818090752 830760566 5929084 13127998 700991585 703140498 706920669 716268496 X 0 0 0 0 111170083 114492070 111170083 114492070 818090752 830760566 X 12927074 -9952056 346969 X X 0 1 X 1 0 2141838 2141838 11902018 4439554 7462464 3065372 1742758 1322614 9600900 7800725 1800175 12727091 MEMBER SHARES 703140498 703140498 X 40430087 0 40430087 0 40430087 27503013 0 27503013 0 27503013 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL AND STATE INCOME TAXES. 1 UNITED WAY 501(C)(3) 11565 0 CHARITABLE DONATION 1 SCHOLARSHIP 10 10000 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. X 1 1 X X X 0 1 0 TRACY MILLER CEO 322939 0 48395 0 0 0 26990 0 19489 0 417813 0 0 0 LINDSEY R LAW CLO 155977 0 14500 0 0 0 13615 0 846 0 184938 0 0 0 ANTHONY WRIGHT CFO 154758 0 2038 0 0 0 12963 0 14933 0 184692 0 0 0 AMBER MALLERNEE CCO 130908 0 11658 0 0 0 11744 0 19489 0 173799 0 0 0 KIRK SCHWARZ SENIOR BUSINESS DEVELOPMENT OFFICER 58142 0 65967 0 0 0 10475 0 18638 0 153222 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 196,391. VISA EXPENSES 52,405. FORM 990, PART XI, LINE 9: NET CHANGE IN UNREALIZED GAINS/(LOSSES) ON POST RETIREMENT BENEFIT PLAN 346,969. 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 259822 1712954 KELLOGG COMMUNITY CREDIT UNION KCCU SERVICES LLC PO BOX 140 BATTLE CREEK MI 49016 274828478 STAFFING SERVICES FOR CREDIT UNION MI -529 4000 KELLOGG COMMUNITY CREDIT UNION KCCU INSURANCE AGENCY LLC PO BOX 140 BATTLE CREEK MI 49016 452600909 INSURANCE SERVICES MI 79395 557339 KELLOGG COMMUNITY CREDIT UNION