2022-11-14T15:06:05-06:00 2021-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2021-01-01 381480245 BLUEOX CREDIT UNION BLUE 8006488035 115 RIVERSIDE DR BATTLE CREEK MI 49015 JOHN ROOD VP ACCOUNTING/FINANCE 2699657281 2022-11-14 1 JOHN ROOD 999009999 JOHN J MURNANE JR P03021572 3052328272 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z STEVEN J COBB 115 RIVERSIDE DR BATTLE CREEK MI 49015 13159579 0 1359 X WWW.BLUEOXCU.ORG X 1936 MI BLUEOX CREDIT UNION'S MISSION IS TO PROVIDE QUALITY FINANCIAL SERVICES THAT WILL IMPROVE AND MAKE A DIFFERENCE IN THE LIVES OF OUR MEMBERS. 11 11 131 11 38236 20822 0 0 10731752 12496957 1100729 363931 39733 31391 11872214 12892279 0 0 0 0 5668710 5777088 0 0 0 6078325 6222192 11747035 11999280 125179 892999 215814531 224804382 198313463 206588993 17501068 18215389 X BLUEOX CREDIT UNION WAS FOUNDED UPON THE SEVEN COOPERATIVE PRINCIPLES BASED IN THE PHILOSOPHY OF COOPERATION AND THE CENTRAL VALUES OF EQUALITY, EQUITY AND MUTUAL SELF-HELP. BLUEOX CREDIT UNION'S MISSION STATEMENT ILLUSTRATES THE BROTHERHOOD OF MAN THROUGH PEOPLE WORKING TOGETHER TO ACHIEVE A BETTER LIFE FOR THEMSELVES AND THEIR COMMUNITY. 1 0 INCOME FROM CREDIT UNION'S MEMBERSHIP AND FROM 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 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 4914 0 1 131 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KIMBERLY TSCHABRUN 2699657281 115 RIVERSIDE DR BATTLE CREEK MI 49015 D HICKS DIRECTOR/SECRETARY 1.00 X 0 0 0 D DITTMER DIRECTOR 1.00 X 0 0 0 J KIRKPATRICK DIRECTOR 1.00 X 0 0 0 A MUMFORD DIRECTOR/CHAIRPERSON 1.00 X 0 0 0 D VOSHELL DIRECTOR 1.00 X 0 0 0 J STANTON DIRECTOR/CHAIRPERSON 1.00 X 0 0 0 J RATTI DIRECTOR/VICE CHAIRPERSON 1.00 X 0 0 0 M WALLACE DIRECTOR 1.00 X 0 0 0 M DUTCHER DIRECTOR 1.00 X 0 0 0 J MAES DIRECTOR/TREASURER 1.00 X 0 0 0 F HETHERWICK DIRECTOR 1.00 X 0 0 0 T JOHNSON ASSOCIATE DIRECTOR 1.00 X 0 0 0 F GODFREY CEO 40.00 X 297912 0 18868 S COBB CEO 40.00 X 207128 0 41041 J ROOD VP ACCOUNTING/FINANCE 40.00 X 101497 0 38860 D PHILLIPS VP LENDING 40.00 X 130536 0 13898 W HEPPE VP HR 40.00 X 101394 0 31112 D SLAVENS VP IT 40.00 X 101418 0 7919 939885 0 151698 6 0 1 0 EDGE ONE 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 ITM/ATM SERVICER 873718 FIS 601 RIVERSIDE AVE JACKSONVILLE FL 32202 DEBIT/CREDIT PROCESSOR 859877 CUANSWERS 6000 28TH STREET SUITE 100 GRAND RAPIDS MI 49546 CORE PROCESSOR 824743 SCHWEITZER PO BOX 1340 BATTLE CREEK MI 49016 CONTRACTOR 570181 SIGN CENTER 711 PORTAGE ST KALAMAZOO MI 49001 SIGNS 171057 5 INCOME ON LOANS 522100 7998350 7998350 FEES/CHARGES/OTHER INCOME 522100 4460371 4460371 FINANCE & INSURANCE 520000 38236 38236 12496957 291480 291480 49000 17609 31391 31391 31391 322142 249691 72451 72451 72451 12892279 12854043 38236 0 X 705306 3601681 298438 764903 406760 131629 54269 376273 280097 750977 367641 252967 50393 127844 501266 22328 304263 54904 ATM/BANK SERVICE CHARGE 1260749 LOAN SERVICING 796396 PROVISION FOR LOAN LOSS 500000 REPAIRS MAINTENANCE 179634 210562 11999280 3403842 3548485 12231049 17683188 308904 708653 169121876 171660072 313424 290208 12437278 4010173 5702952 8427105 11307086 7676316 4808026 4347570 444942 320824 8172430 10141961 215814531 224804382 2241766 2020504 196071697 204568489 198313463 206588993 X 0 0 0 0 17501068 18215389 17501068 18215389 215814531 224804382 892999 -178678 0 X X 0 1 X 1 0 1837928 1837928 6667905 1752428 4915477 3464133 1984330 1479803 467312 273415 193897 8427105 SHARE DRAFTS 50318342 SHARES 85516735 MONEY MARKET 49742464 IRA SHARES 2649373 CERTIFICATES 16341575 204568489 X 12909888 17609 17609 12892279 0 12892279 12016889 17609 17609 11999280 0 11999280 PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF REVENUE IN FORM 990 BUT AS 17,609. EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF REVENUE IN FORM 990 BUT AS 17,609. EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS X 1 1 X X X X 0 1 0 F GODFREY CEO 42397 0 0 0 255515 0 2514 0 16354 0 316780 0 234750 0 S COBB CEO 204891 0 2137 0 100 0 16927 0 24114 0 248169 0 0 0 PART I, LINE 4B CERTAIN KEY EXECUTIVES PARTICIPATE IN A 457(F) DEFERRED COMPENSATION PLAN. DURING 2021, THE CREDIT UNION PAID OUT BENEFITS OF $255,515 TO F. GODFREY (CEO). THE CREDIT UNION ALSO ACCRUED BENEFITS FOR S. COBB (CEO) IN THE AMOUNT OF $5,859 TOWARD THE EXECUTIVE'S FUTURE BENEFIT. S. COBB'S BENEFIT IS SCHEDULED TO BE PAID OUT IN 2032. FORM 990, PART III, LINE 2 THE CREDIT UNION INSTALLED INTERACTIVE TELLER MACHINES (ITM'S) IN EACH OF THE BRANCHES IN 2021. ITM'S WILL ALLOW REMOTE TELLERS TO ASSIST MEMBERS WITH VIRTUALLY ANY TRANSACTION THAT CAN BE PERFORMED AT A TELLER LINE. THIS WILL PROVIDE MEMBERS WITH MORE SERVICE OPTIONS AND FLEXIBILITY IN PERFORMING TRANSACTIONS. ITM'S LEVERAGE TECHNOLOGY TO BETTER SERVE THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 UPON RECEIPT OF THE COMPLETED FORM 990, MANAGEMENT REVIEWS THE DOCUMENT FOR ACCURACY AND REASONABLENESS. ONCE THIS REVIEW IS COMPLETED, THE GOVERNING BODY IS INFORMED THAT THE FORM HAS BEEN FILED WITH THE IRS AND A COPY IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C A LIST OF RELATED PARTIES IS COMPILED. EMPLOYEES WHO ARE AUTHORIZED TO TRANSACT WHERE A CONFLICT MIGHT OCCUR ARE RESTRICTED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD'S PERSONNEL COMMITTEE REVIEWS THE PERFORMANCE OF THE PRESIDENT/CEO. THE BOARD APPROVES RECOMMENDATIONS. BLUEOX CREDIT UNION UTILIZES COMPEASE FOR COMPARABILITY DATA WHEN DETERMINING COMPENSATION FOR ALL EMPLOYEES. COMPEASE PROVIDES COMPETITIVE, MARKET-BASED SALARY RANGES DEVELOPED FROM EXTENSIVE SALARY SURVEY DATA THAT ENSURES THE RELIABILITY OF THE INFORMATION. SALARY RANGES ARE CREATED TO REFLECT THE LABOR MARKET IN WHICH BLUEOX CREDIT UNION COMPETES FOR LABOR, AND SALARY RANGES ARE UPDATED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE NCUA'S WEBSITE VIA THE 5300 CALL REPORT FILING. FORM 990, PART IX, LINE 24E OTHER EXPENSES 176,288. ATM/DEBIT FRAUD 31,512. UBIT 2,762. FORM 990, PART XII, LINE 2C WITH THE CHANGE IN THE MICHIGAN CREDIT UNION ACT, WE WERE ABLE TO ELIMINATE THE EXTERNAL SUPERVISORY COMMITTEE. THE SUPERVISORY COMMITTEE IS NOW COMPRISED OF MEMBERS OF BLUEOX CREDIT UNION'S BOARD OF DIRECTORS. THIS PROCESS HAS NOT CHANGED SINCE LAST YEAR.