2020-11-11T13:30:54-06:00 2019-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2019-01-01 381543701 KALSEE CREDIT UNION KALS 2693827800 2501 MILLCORK KALAMAZOO MI 49001 MATT LAHMAN CEO 2693827800 2020-11-10 1 ROBERT PARKS CPA P00740435 2482443000 104.11.88.150 2020-11-10 08:36:08 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z MATT LAHMAN 2501 MILLCORK KALAMAZOO MI 49001 12446914 0 1359 X WWW.KALSEE.COM X 1954 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 7 7 64 7 279426 0 0 0 11092951 11467198 602606 664290 394239 279426 12089796 12410914 0 0 0 0 3695754 4027962 0 0 0 6795754 7351086 10491508 11379048 1598288 1031866 186031636 191496362 165209282 169534182 20822354 21962180 X TO BUILD RELATIONSHIPS AND CULTIVATE FINANCIAL WELLNESS, EMPOWERING PEOPLE TO FOCUS ON WHAT MATTERS. 0 0 PROVIDE 23,000 MEMBERS WITH SAVINGS, CHECKING, CLUBS, MONEY MARKET, INDIVIDUAL RETIREMENT AND CERTIFICATES OF DEPOSIT ACCOUNTS. PROVIDE 16,000 MEMBERS WITH CREDIT CARD, VEHICLE, REAL ESTATE, UNSECURED, BUSINESS AND LINE OF CREDIT LOANS. OFFER ATM & DEBIT CARD, CHECK CASHING, WIRE TRANSFER, COURTESY PAY, MONEY ORDERS, CASHIER CHECKS, ELECTRONIC BANKING, FINANCIAL COUNSELING, INVESTMENT AND 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 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 4500 0 1 64 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 0 0 1 1 1 1 0 X AMBER STEVENS 2693827800 2501 MILLCORK KALAMAZOO MI 49001 DAVID STUUT CHAIRMAN 2.00 X 0 0 0 JOSEPH MARTIN VICE CHAIRMAN 2.00 X 0 0 0 JODI K MILKS BOARD MEMBER 2.00 X 0 0 0 BRIAN SACJETT BOARD MEMBER 2.00 X 0 0 0 BEN DANIELSON BOARD MEMBER 2.00 X 0 0 0 RUDY CALLEN BOARD MEMBER 2.00 X 0 0 0 MICHELLE SHINEVARE BOARD SECRETARY 2.00 X 0 0 0 AMBER STEVENS CFO 40.00 X 120858 0 30617 MATTHEW LAHMAN CEO 40.00 X 197053 0 27927 SHELDON FAWORSKI COO 40.00 X 118557 0 34961 RICHARD BAKER VP OF LENDING 40.00 X 111670 0 11565 548138 0 105070 4 0 1 0 WORLDPAY 8500 GOVERNORS HILL DRIVE SYMMES TOWNSHIP OH 45249 ATM/DEBIT CARD PROCESSOR 620846 CU ANSWERS 6000 28TH ST SE STE 100 GRAND RAPIDS MI 49546 CORE DATA PROCESSOR 458478 SECANT TECHNOLOGIES 6395 TECHNOLOGY AVE KALAMAZOO MI 49009 IT SERVICES 309545 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT/DEBIT CARD PROCESSOR 308027 FIS 3031 N ROCKY POINT TAMPA FL 33607 CREDIT CARD PROCESSING 102143 5 LOAN INTEREST 522100 7676133 7676133 FEES/CHARGES 522100 3791065 3791065 11467198 657506 657506 42784 36000 6784 6784 6784 FINANCIAL SERVICES 525990 159247 159247 INSURANCE PRODUCTS 524298 105953 105953 NON-MEMBER ATM FEES 525990 12095 12095 2131 2131 279426 12410914 11473982 279426 657506 X 376455 2514319 188025 678375 270788 5679 116211 231655 263557 497224 882202 253103 87698 60773 1016855 20251 206556 46366 PROVISION FOR LOAN LOSS 1232179 ATM EXPENSE 1058485 LOAN SERVICING 792329 VISA/PLASTIC CARD EXPEN 249575 330388 11379048 2045428 1946769 3098429 4343420 457133 999558 1513053 1533840 149415727 152891250 853136 742535 8827222 2703020 6019720 6124202 12176219 6342526 5455561 11384313 4997230 5187949 186031636 191496362 8596484 2036159 156612798 167498023 165209282 169534182 X 0 0 0 0 20822354 21962180 20822354 21962180 186031636 191496362 X 1031866 211777 -103817 X X 0 1 X 1 0 1853500 1853500 5627879 1925742 3702137 1345843 777278 568565 6124202 CUSO INVESTMENTS 479536 C LONG TERM CDS 100000 C ALLOYA PERPETUAL CONTRIBUTION 498700 C FHLB CAPITAL STOCK 229200 C FHLB CMS ACCOUNT 76877 C CORPORATE CENTRAL CU LIBOR INV ACCOUNT 10000000 C 11384313 MEMBER SHARES 167498023 167498023 X 12410914 0 12410914 0 12410914 11379048 0 11379048 0 11379048 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL AND STATE INCOME TAXES. X X 1 1 X X X X 0 1 0 AMBER STEVENS CFO 95269 0 19589 0 6000 0 9558 0 21059 0 151475 0 0 0 MATTHEW LAHMAN CEO 147918 0 40135 0 9000 0 10765 0 17162 0 224980 0 0 0 SHELDON FAWORSKI COO 92517 0 20040 0 6000 0 9715 0 25246 0 153518 0 0 0 PART I, LINE 1A SAM'S CLUB MEMBERSHIP WITH 8 CARDS FOR THE MANAGEMENT TEAM. BRONSON ATHLETIC CLUB MEMBERSHIP, HEALTH CLUB MEMBERSHIP FOR MATT LAHMAN, PRESIDENT AND CEO. PART I, LINE 4B MATTHEW LAHMAN PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMENTAL RETIREMENT PLAN. THE LOAN RELATED TO THIS PLAN IS REPORTED ON SCHEDULE L. RUDY CALLEN FORMER CEO AND CURRENT MEMBER OF THE BOARD OF DIRECTORS SPLIT DOLLAR LIFE INSURANCE X 500000 579326 0 1 1 MATTHEW LAHMAN CEO SPLIT DOLLAR LIFE INSURANCE X 950000 954514 0 1 1 1533840 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 NOMINATED AND THEN ELECTED BY MAIL VOTE BY THE MEMBERSHIP. RESULTS OF THE MAIL VOTE ARE ANNOUNCED AT THE ANNUAL MEETING. EACH BOARD MEMBER IS ELECTED FOR A 3 YEAR TERM. 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 FORM 990 IS THOROUGHLY REVIEWED BY THE CFO AND THE CEO PRIOR TO FILING. A COPY IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE IS MADE UP OF SELECTED BOARD OF DIRECTORS MEMBERS, WHICH USE COMPENSATION SURVEYS TO APPROVE COMPENSATION FOR THE CEO. THE LAST COMPENSATION REVIEW WAS PERFORMED IN 2019. KEY EMPLOYEE COMPENSATION IS DETERMINED BY REVIEWS CONDUCTED BY THE CEO AND HUMAN RESOURCES AND ARE APPROVED BY THE BOARD OF DIRECTORS. THE LAST COMPENSATION REVIEW WAS PERFORMED IN 2019. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBIES. THE GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE MAIN OFFICE. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL EXPENSES 231,655. FORM 990, PART IX, LINE 24E MAINTENANCE 213,832. FRAUD/FORGERIES/OVERDRAFT LOSSES 47,168. MISCELLANEOUS 46,781. LOSS ON INVESTMENTS 22,607. FORM 990, PART XI, LINE 9: RETIREE HEALTH BENEFITS 158 - OCI -23,064. SHARED BRANCHING SETTLEMENT -80,753. - 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. FORM 990, PART XII, LINE 2B: AUDITED FINANCIAL STATEMENTS ARE DONE ON A FISCAL YEAR END AND TAX REPORTING IS REQUIRED ON A CALENDAR YEAR END. THERE ARE NO REVENUE OR EXPENSE ITEMS REPORTED IN THE AUDITED FINANCIAL STATEMENTS THAT ARE NOT REPORTED IN FORM 990.