2021-10-06T09:49:51-05:00 2020-12-31 BKD LLP 200 E Main St Suite 700 Fort Wayne IN 46802 990 2020-01-01 381441242 ELGA CREDIT UNION % KAREN CHURCH ELGA 8107153542 2305 S CENTER ROAD BURTON MI 48519 KAREN CHURCH CEO 8107153542 2021-05-15 true KAREN CHURCH 999009999 Lauren R Denton P01571860 2604604000 3 2020 2022-09-23 18:48:47Z KAREN CHURCH CEO 2305 S CENTER RD BURTON MI 48519 60808978 false X WWW.ELGACU.COM X 1951 MI PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS. 7 7 253 12 379001 0 0 0 52825332 57147610 867845 1148968 2503216 2562847 56196393 60859425 0 0 0 0 15179063 17115288 0 0 0 25691339 27193342 40870402 44308630 15325991 16550795 794491719 1060468798 683397660 932280464 111094059 128188334 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 12/31/20 WAS 59,611. THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES, AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/20 WAS 77,365. 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 false false false true false false false false false false false false false true 24066 0 253 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 KAREN CHURCH 8107153542 2305 S CENTER RD BURTON MI 48519 KAREN CHURCH CEO 40.0 0.0 X 444546 0 59297 TERRY KATZUR EVP 40.0 0.0 X 262206 0 22596 KATHLEEN SMITH VP OF BRANCH EXPERIENCE 40.0 0.0 X 173795 0 17421 DAVID BRANDT CFO 40.0 0.0 X 163850 0 20921 BRYAN RANDALL CIO 40.0 0.0 X 147514 0 17223 CHADD OBRIEN GENERAL COUNSEL 40.0 0.0 X 129379 0 8263 SHELLEY HUFTON ACCOUNTING MANAGER 40.0 0.0 X 115566 0 13600 SARAH THOMPSON BRANCH MANAGER 40.0 0.0 X 112910 0 9291 BRAIN CHAFFINS NETWORK SERVICES 40.0 0.0 X 104154 0 7860 SHEVEZE ANDERSON BOARD SECRETARY 1.0 0.0 X X 0 0 0 JOSEPH BORIS VICE CHAIRPERSON 1.0 0.0 X X 0 0 0 DIANA CURRIER CHAIRPERSON 1.0 0.0 X X 0 0 0 DAVID HUTCHINS BOARD MEMBER 1.0 0.0 X 0 0 0 KEVIN KEANE BOARD MEMBER 1.0 0.0 X 0 0 0 HAROLD MOTT BOARD MEMBER 1.0 0.0 X 0 0 0 STEVEN PIRKOVIC BOARD TREASURER 1.0 0.0 X X 0 0 0 CONSTANCE FRY BOARD MEMBER 1.0 0.0 X 0 0 0 1653920 0 176472 17 false true false KASASA LTD PO BOX 527 LUBBOCK TX 79408 PRODUCT SUPPORT 648608 SORENSEN GROSS COMPANY 111 E COURT ST FLINT MI 48502 CONSTRUCTION SERVICE 2158240 EDGE ONE 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 FINANCIAL SERVICES 758506 FUNCHITECTURE LLC 140 E 2ND ST STE 300 FLINT MI 48502 DESIGN SERVICES 643751 JACK HENRY ASSOCIATES INC 663 W HWY 60 PO BOX 807 MONETT MO 65708 TECHNOLOGY SERVICES 456314 18 0 FEES AND CHARGES 522100 9410460 9410460 INTERCHANGE INCOME 522100 8737111 8737111 INTEREST ON LOANS 522100 38456220 38456220 GAIN ON SALE OF LOANS 522100 543819 543819 57147610 1093588 1093588 0 0 -4652 -4652 0 -4652 -4652 4933 -50447 55380 55380 55380 0 0 0 0 0 0 0 0 0 INSURANCE REIMBURSEMENTS 524298 2187562 2187562 NON-MEMBER ATM FEES 525990 379001 379001 OTHER MISCELLANEOUS INCOME 525990 936 936 2567499 60859425 60429696 379001 50728 0 0 0 0 1138152 0 11777318 761502 2393204 1045112 0 2706 90563 0 0 0 0 3163388 3840482 1682451 0 1053332 213937 0 0 8252389 0 1926401 157440 ATM EXPENSE 2730643 ALLOWANCE FOR LOAN LOSSES 1992592 LOAN SERVICING EXPENSES 1312693 PROFESSIONAL SERVICES 774325 44308630 12994456 14158957 67442756 107558303 0 0 0 0 0 0 0 0 679345187 750427256 0 0 1600824 1334230 34595803 18365549 14242635 16230254 1121008 127581509 7373441 9317279 0 0 0 0 10371412 33861010 794491719 1060468798 5876220 8310854 0 0 0 0 0 0 0 0 0 0 0 0 0 0 677521440 923969610 683397660 932280464 X 0 0 0 0 111094059 128188334 111094059 128188334 794491719 1060468798 X 16550795 63811 479669 X false true X true false 3097934 3097934 12118354 5343466 6774888 1055145 681699 373446 14920509 12340384 2580125 3403861 3403861 16230254 0 MEMBERS' SHARE ACCOUNTS 899644741 FHLBI LOAN PAYABLE 24300000 ACCRUED INTEREST PAYABLE 24869 923969610 60923236 63811 63811 60859425 60859425 44308630 44308630 44308630 PART X, LINE 2 FIN 48 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 true false KAREN CHURCH CEO 406937 25052 12557 54000 5295 503841 TERRY KATZUR EVP 213850 42968 5388 19500 3096 284802 KATHLEEN SMITH VP OF BRANCH EXPERIENCE 136240 34482 3073 14370 3051 191216 BRYAN RANDALL CIO 134803 8718 3993 14112 3111 164737 DAVID BRANDT CFO 148265 11515 4070 15725 5196 184771 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. PART III LINE 4B KAREN CHURCH PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN. CONTRIBUTIONS TO THE PLAN ARE REPORTED AS DEFERRED COMPENSATION AS THEY ARE ACCRUED. IN 2020, AMOUNTS DEFERRED UNDER THE PLAN WERE $32,825. DUANE CHURCH EMPLOYEE - KAREN CHURCH FAMILY MEMBER 45883 COMPENSATION false DANA TALJONICK EMPLOYEE - KAREN CHURCH FAMILY MEMBER 89035 COMPENSATION false DEBRA CHAFFINS EMPLOYEE - BRIAN CHAFFINS FAMILY MEMBER 96161 COMPENSATION false CHRISTINA CHURCH EMPLOYEE - KAREN CHURCH FAMILY MEMBER 60180 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 2020. EXECUTIVE AND EMPLOYEE SALARIES ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15B 2020. 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 PERFORMANCE (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 $479,669