2021-10-27T12:19:07-05:00 2020-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2020-01-01 381418180 CHRISTIAN FINANCIAL CREDIT UNION CHRI 5867726330 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 VALLORIE MCBRIDE CFO 5867726330 2021-10-27 1 VALLORIE MCBRIDE 999009999 JOSEPH ZITO CPA P00648440 2482443000 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z PATRICIA CAMPBELL 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 33196075 0 1359 X WWW.CHRISTIANFINANCIALCU.COM X 1950 MI AT CHRISTIAN FINANCIAL CREDIT UNION, OUR MISSION IS TO PROVIDE AN ENVIRONMENT THAT DELIVERS HIGH-QUALITY PRODUCTS AND SERVICES THAT PROMOTE CONVENIENCE, TRUST, AND PERSONAL SERVICE TO ASSIST OUR MEMBERS IN ACHIEVING THEIR FINANCIAL SUCCESS. 11 11 223 11 1794045 0 0 0 23840435 27227511 1759644 1592272 494345 3231614 26094424 32051397 0 0 0 0 9666209 11928034 0 0 0 13340996 17076769 23007205 29004803 3087219 3046594 429328252 723216284 381378864 651724436 47949388 71491848 X CHRISTIAN FINANCIAL SERVICES OVER 60,000 MEMBERS IN METROPOLITAN DETROIT. CHARTERED IN 1950 THE CREDIT UNION'S MISSION IS TO PROVIDE MEMBERS CUSTOMIZED SOLUTIONS TO ENHANCE THEIR FINANCIAL WELL-BEING THROUGH A TRUSTED PARTNERSHIP WITH A DEDICATED TEAM OF PROFESSIONALS FOCUSED ON EXCEEDING THEIR EXPECTATIONS. 0 0 THE CREDIT UNION ORIGINATED $119.8 MILLION IN LOANS TO MEMBERS DURING 2020. LOANS ARE GENERALLY ORIGINATED AT BELOW MARKET INTEREST RATES HIGHLIGHTING MEMBER LOYALTY. THE CREDIT UNION COMPLETED A SYSTEM CONVERSION IN 2015 WITH ASSOCIATED COSTS IN 2020 OF $215,000 IN ADDITION TO OPERATING AND MAINTENANCE COSTS OF $300,000. THE SYSTEM CONTINUES TO IMPROVE THE MEMBER EXPERIENCE THROUGH THE OFFERING OF PRODUCTS SUCH AS LENDING AND ACCOUNT ORIGINATIONS ONLINE AND MOBILE BANKING. THE CREDIT UNION OFFERS CONVENIENT DELIVERY CHANNELS FOR MEMBERS WHERE WE FULLY ABSORB THE COST OF THE ABILITY TO USE 30,000 ATMS, ACCESS TO THE SHARED BRANCHING NETWORK WITH OVER 5,600 OUTLETS NATIONWIDE, FREE ACCESS TO ONLINE BANKING AND BILL PAYMENT FOR ALL CONSUMERS. 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 18076 0 1 223 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X VALLORIE MCBRIDE CPA 5864981592 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 PAUL AVERY BOARD SECRETARY 2.00 X 0 0 0 JAMES BANASZAK BOARD TREASURER 2.00 X 0 0 0 JAMES BEAUDOIN BOARD VICE CHAIRPERSON 2.00 X 0 0 0 JOHN AMRHEIN BOARD DIRECTOR 2.00 X 0 0 0 MICHELLE BOEDEKER BOARD DIRECTOR 2.00 X 0 0 0 MIKE DOMZALSKI BOARD CHAIRMAN 2.00 X 0 0 0 FRED ANDARY BOARD DIRECTOR 2.00 X 0 0 0 ROB HOJNACKI BOARD DIRECTOR 2.00 X 0 0 0 JEFF MALACKO BOARD DIRECTOR 2.00 X 0 0 0 KIM REGENER BOARD DIRECTOR 2.00 X 0 0 0 MARK TUTTLE BOARD DIRECTOR 2.00 X 0 0 0 PATRICIA CAMPBELL PRESIDENT & CEO 40.00 X 440831 0 21662 VALLORIE MCBRIDE CFO 40.00 X 131079 0 17298 STEVEN ANDREWS CHIEF ADMINISTRATION OFFICER 40.00 X 116767 0 17570 JAMES SPESHOCK COO 40.00 X 142436 0 20442 LAUREN FOGARTY CHIEF STRATEGY OFFICER 40.00 X 113195 0 19771 DAVID MAURER MANAGER OF NETWORK SECURIT 40.00 X 117285 0 25725 DENNIS BANKER COMMERCIAL LOAN OFFICER 40.00 X 116015 0 11119 1177608 0 133587 10 0 1 0 FISERV INC PO BOX 934057 ATLANTA GA 31193 CORE SYSTEM PROCESSOR 1563238 THOMPSON-PHELAN GROUP INC 9834 DIXIE HWY IRA TOWNSHIP MI 48023 GENERAL CONTRACTOR 461702 CO-OP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA MD 21231 FINANCIAL SERVICES 427041 THINK STACK 1300 THAMES STREET SUITE 20 BALTIMORE MD 21231 NETWORK SECURITY 406780 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 349157 14 INCOME FROM MEMBER LOANS 522100 16468269 16468269 FEES, CHARGES, & OTHER 522100 8965197 8965197 FINANCE AND INSURANCE 520000 1794045 1794045 27227511 1528233 1528233 1208717 1144678 64039 64039 64039 EQUITY IN EARNINGS OF CUSO 522100 3231614 3231614 3231614 32051397 28729119 1794045 1528233 X 610870 9149866 521006 1005160 641132 196644 140200 49561 65362 249821 1357742 2496801 1028428 45573 57629 3341655 49304 1396497 161441 DEBIT/CREDIT CARD EXPEN 1993182 PROVISION FOR LOAN LOSS 1375000 LOAN SERVICING 960062 MAINTENANCE 926973 1184894 29004803 4909687 5662527 41016149 219059447 3286754 3032690 287149194 378623899 974581 1033043 37429511 6585733 28443363 30843778 46651891 71612787 10814663 3214505 142500 2000840 5939470 8132768 429328252 723216284 2268644 2765584 10000000 8669025 369110220 640289827 381378864 651724436 X 0 0 0 0 47949388 71491848 47949388 71491848 429328252 723216284 X 3046594 833767 19662099 X X 0 1 X 1 0 10014067 10014067 20920018 3589623 17330395 6495426 2996110 3499316 30843778 MEMBER SHARES 639645951 POSTRETIREMENT BENEFIT LIABILITY 643876 640289827 X 31979730 0 31979730 71667 71667 32051397 28933136 -71667 -71667 29004803 0 29004803 PART X, LINE 2: 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 4B - OTHER ADJUSTMENTS: GAINS ON SALE OF OREO REPORTED NET OF EXPENSES IN AUDITED FINANCIALS BUT REPORTED AS REVENUE IN THE FORM 990 STATEMENT OF REVENUE 71,667. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAINS ON SALE OF OREO REPORTED NET OF EXPENSES IN AUDITED FINANCIALS BUT REPORTED AS REVENUE IN THE FORM 990 STATEMENT OF REVENUE -71,667. X 1 1 X X X X X 0 0 0 PATRICIA CAMPBELL PRESIDENT & CEO 363011 0 62994 0 14826 0 17609 0 4053 0 462493 0 0 0 JAMES SPESHOCK COO 123148 0 12950 0 6338 0 8626 0 11816 0 162878 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 EFFECTIVE APRIL 1, 2020, THE CREDIT UNION'S BYLAWS WERE AMENDED TO ACCOMMODATE THE MERGER OF MOTOR CITY CO-OP CREDIT UNION INTO CHRISTIAN FINANCIAL CREDIT UNION. ARTICLE III SECTION 1 WAS AMENDED TO EXPAND OUR FIELD OF MEMBERSHIP TO INCLUDE MEMBERS OF MOTOR CITY CO-OP CREDIT UNION EFFECTIVE APRIL 1, 2020, AS WELL AS ALL MEMBERS OF THE MOTOR CITY CONSUMERS COOPERATIVE, INC. IN ADDITION, ARTICLE VI WAS AMENDED TO INCREASE THE SIZE OF THE BOARD FROM SEVEN (7) MEMBERS TO ELEVEN (11) MEMBERS WHICH ACCOMMODATED THE ADDITION OF FOUR (4) DIRECTORS FROM MOTOR CITY CO-OP CREDIT UNION EFFECTIVE APRIL 1, 2020. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR AND AS REQUIRED BY THE MICHIGAN CREDIT UNION ACT AND THE BY-LAWS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED AT A REGULAR BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR ALL EMPLOYEES, MANAGEMENT AND BOARD MEMBERS ARE PROVIDED WITH COPIES OF THE POLICIES AND MUST SIGN FOR ACKNOWLEDGMENT. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT/CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS; COMPENSATION SURVEY DATA IS USED. SENIOR MANAGEMENT COMPENSATION IS APPROVED BY PRESIDENT/CEO; COMPENSATION SURVEY DATA IS USED. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE POSTED IN ALL CREDIT UNION BRANCH LOCATIONS. FORM 990, PART IX, LINE 11G OTHER FEES 65,362. FORM 990, PART IX, LINE 24E MISCELLANEOUS 679,024. ATM EXPENSES 413,100. EDUCATION 92,770. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN BUSINESS COMBINATION 19,662,099. FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.