2021-10-21T10:37:18-05:00 2020-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2020-01-01 381524325 TLC COMMUNITY CREDIT UNION TLCC 5174239120 3030 S ADRIAN HWY ADRIAN MI 49221 RANDALL SMITH CEO 5174239120 2021-10-20 1 RANDALL SMITH 999009999 ROBERT PARKS P00740435 2482443000 2021-10-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z RANDALL SMITH 3030 S ADRIAN HWY ADRIAN MI 49221 100022746 0 X WWW.TLCCU.ORG X CREDIT UNION 1956 MI PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 7 7 157 9 88327 44978 0 0 18719197 19602910 4892401 5436143 -18027 -7901 23593571 25031152 168342 40350 0 0 8053876 7938679 0 0 0 9080642 9498798 17302860 17477827 6290711 7553325 525006530 636871324 445309444 545876952 79697086 90994372 TO PROMOTE THE PHILOSOPHY OF PEOPLE HELPING PEOPLE. STRIVING TO BE THE PRIMARY PROVIDER OF FINANCIAL SERVICES TO OUR MEMBERS AND THEIR FAMILIES BY PROVIDING THE OPPORTUNITY TO ACHIEVE FINANCIAL SECURITY AND WELL-BEING. 0 0 PROVIDE 53,158 MEMBERS WITH SAVINGS, SHARE DRAFTS, CLUB, MONEY MARKET, BUSINESS, INDIVIDUAL RETIREMENT, AND CERTIFICATES OF DEPOSIT ACCOUNTS TOTALING 95,923 PROVIDE 15,046 NEW AND USED AUTO, UNSECURED, OVERDRAFT, COMMERCIAL, REAL ESTATE, HOME EQUITY, STUDENT AND CREDIT CARD LOANS. OFFER ATM, ON-LINE BANKING, AUDIO RESPONSE, ACH, SAFE DEPOSIT BOXES, OVERDRAFT PROTECTION, CHECK CASHING, TRAVEL CARDS, MOBILE BANKING, MOBILE DEPOSIT CAPTURE AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12305 0 1 157 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X TLC COMMUNITY CREDIT UNION 5174239120 3030 S ADRIAN HWY ADRIAN MI 49221 MARK SPOHR CHAIRPERSON 1.00 X 0 0 0 DAVID MILLER VICE CHAIRPERSON 1.00 X 0 0 0 CHRIS LANE DIRECTOR 1.00 X 0 0 0 TROY BEVIER DIRECTOR 1.00 X 0 0 0 RICHARD EGLI SECRETARY 1.00 X 0 0 0 JOE MURPHY TREASURER 1.00 X 0 0 0 MARK BRUGGEMAN DIRECTOR 1.00 X 0 0 0 MEREDITH FRANCIS DIRECTOR 1.00 X 0 0 0 JEFF BREHMER EXECUTIVE VICE PRESIDENT 40.00 X 146405 0 39509 RANDALL SMITH CEO 40.00 X 318962 0 71142 ROY CADIEUX EVP-OPERATIONS 40.00 X 203216 0 24963 ROBERT SCHROCK SR VP LENDING 40.00 X 161163 0 23194 PAUL CORAZZOL VP IT 40.00 X 115167 0 38770 LORIE EASTON VP INDIRECT LENDING 40.00 X 120706 0 18018 ALYCIA NICHOLS VP OF BRANCH OPERATIONS 40.00 X 103995 0 37431 1169614 0 253027 7 0 1 0 KREIGHOFF-LENAWEE COMPANY P O BOX 100 ADRIAN MI 49221 GENERAL CONTRACTOR 519687 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 COMPUTER SERVICES 412054 PAULA A RUETZ 2537WIMBLEDON PARK TOLEDO TX 43617 MORTGAGE CONTRACT 225825 DOXIM INC PO BOX 933472 CLEVELAND OH 44193 DOCUMENT PROCESSING 187225 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 BANKING MACHINES & EQUIPMENT 176407 8 LOAN INTEREST INCOME 522100 12621208 12621208 FEE AND OTHER INCOME 522100 6893375 6893375 FINANCE AND INSURANCE 520000 88327 88327 19602910 4112316 4112316 60900 68801 -7901 -7901 -7901 76161239 85381 74840293 82500 1320946 2881 1323827 1323827 25031152 24942825 88327 0 X 34350 6000 988554 5313331 729972 795700 111122 26321 129836 1098210 314883 1135047 303597 661370 39170 2536168 605612 83899 990T EXPENSE 6972 LOAN SERVICING 1961246 PROVISION FOR LOAN LOSS 367272 OPERATING FEES 118201 110994 17477827 5808517 8871994 2081633 857309 165776 406795 281966416 308968866 398784 408392 16470995 6983678 9357552 9487317 203970873 274625683 13308046 24307325 7948933 8937643 525006530 636871324 2955470 2818362 442353974 543058590 445309444 545876952 X 0 0 0 0 79697086 90994372 79697086 90994372 525006530 636871324 X 7553325 3696446 47515 X X 0 1 X 1 0 3171791 3171791 8442665 3190231 5252434 21804 21804 0 4834735 3771643 1063092 9487317 FEDERAL AGENCY SECURITIES 273304883 F FHLB STOCK 1320800 C 274625683 MEMBER SHARES 543058590 543058590 X 25099953 0 25099953 -68801 -68801 25031152 17546628 68801 68801 17477827 0 17477827 PART X, LINE 2: TLC COMMUNITY CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S OPEN AUDIT PERIOD IS FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED AS A REDUCTION OF RENTAL REVENUE IN FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS -68,801. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED AS A REDUCTION OF RENTAL REVENUE IN FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS 68,801. 1 LENAWEE COMMUNITY FOUNDATION 1440 W MAUMEE ST ADRIAN MI 49221 386095474 501(C)(3) 34350 CHARITABLE CONTRIBUTION FOR COMMUNITY DEVELOPMENT 1 SCHOLARSHIPS 6 6000 PART I, LINE 2: THE CREDIT UNION CHOOSES DONATION RECIPIENTS BASED ON CERTAIN CRITERIA AND KEEPS SUPPORTING DOCUMENTS FOR THEIR DECISIONS. X 1 1 X X X X 0 1 0 RANDALL SMITH CEO 318446 0 0 0 516 0 39141 0 32001 0 390104 0 0 0 ROY CADIEUX EVP-OPERATIONS 193424 0 7500 0 2292 0 24061 0 902 0 228179 0 0 0 JEFF BREHMER EXECUTIVE VICE PRESIDENT 138905 0 7500 0 0 0 18578 0 20931 0 185914 0 0 0 ROBERT SCHROCK SR VP LENDING 154147 0 5000 0 2016 0 19542 0 3652 0 184357 0 0 0 PAUL CORAZZOL VP IT 109891 0 5000 0 276 0 15134 0 23636 0 153937 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS CONTRIBUTED TO A CREDIT UNION OWNED LIFE INSURANCE PLAN FOR THE CEO, RANDALL SMITH. THE CASH SURRENDER VALUE OF THIS PLAN AS OF DECEMBER 31, 2020, WAS $1,239,871. THE CREDIT UNION ALSO CONTRIBUTES TO A POST RETIREMENT BENEFIT PLAN FOR THE CEO. THE BENEFIT LIABILITY AS OF DECEMBER 31, 2020, WAS $197,337. 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 BOARD MEMBERS ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING OF THE MEMBERSHIP FOR 3 YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP OF THE CREDIT UNION MUST APPROVE MERGERS, FIELD OF MEMBERSHIP CHANGES, BY-LAW CHANGES, AND CHARTER CHANGES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND SCHEDULES ARE CAREFULLY REVIEWED BY THE SENIOR VICE PRESIDENT-ADMINISTRATION, THE CEO ALSO REVIEWS IN SUMMARY. THE FORM 990 AND SCHEDULES ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE MONITORED BY A SYSTEM OF DUAL CONTROLS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES CEO COMPENSATION THROUGH THE USE OF MULTIPLE SALARY SURVEYS AND THIRD PARTY APPRAISAL AND COMPENSATION SYSTEM. THE CEO USES THE SAME RESOURCES FOR DETERMINING VP COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF THE CREDIT UNION. OTHER DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 88,106. INTERNET BANKING 285,840. NETWORK ADMINISTRATION 724,264. FORM 990, PART IX, LINE 24E MISCELLANEOUS EXPENSE 110,994. FORM 990, PART XI, LINE 9: CHANGE IN ACTUARIAL VALUE OF POST-RETIREMENT BENEFITS 47,515. 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.