2020-08-13T12:03:05-05:00 2019-12-31 BKD LLP 200 E Main St Suite 700 Fort Wayne IN 46802 990 2019-01-01 381441242 ELGA CREDIT UNION % KAREN CHURCH ELGA 8107153542 2305 S CENTER ROAD BURTON MI 48519 KAREN CHURCH CEO 8107153542 2020-11-16 true Lauren R Denton P01571860 2604604000 167.68.126.162 35027420202265000006 2020-08-13 P C9F2138D12F7D343057C8214CDBDB0735A7DCED9 43DB6BABCD5765C21A853E601D85CE870D305F40 2019 2020-11-06 18:47:13Z KAREN CHURCH CEO 2305 S CENTER RD BURTON MI 48519 57706331 false X WWW.ELGACU.COM X 1951 MI PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS. 7 7 256 12 296068 0 0 48395261 52825332 720759 867845 2811735 2503216 51927755 56196393 0 0 0 0 13703028 15179063 0 0 0 22945240 25691339 36648268 40870402 15279487 15325991 660931409 794491719 565203102 683397660 95728307 111094059 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 12/31/2019 WAS 55,894. THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES, AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/19 WAS 79,124. 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 20539 0 256 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/ASSISTANT BOARD TREASURER 45.0 0.0 X 421313 0 57538 TERRY KATZUR EVP 45.0 0.0 X 247193 0 22288 DAVID BRANDT CHIEF FINANCIAL OFFICER 45.0 0.0 X 159012 0 12026 KATHLEEN SMITH VP OF BRANCH EXPERIENCE 45.0 0.0 X 152857 0 16791 BRYAN RANDALL CHIEF INFORMATION OFFICER 45.0 0.0 X 151465 0 16522 CHADD OBRIEN GENERAL COUNSEL 45.0 0.0 X 126894 0 579 SHELLEY HUFTON BRANCH MANAGER 45.0 0.0 X 117702 0 5184 SARAH THOMPSON BRANCH MANAGER 45.0 0.0 X 109415 0 12687 BRIAN CHAFFINS NETWORK SERVICES 45.0 0.0 X 102972 0 570 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 STEVAN PIRKOVIC BOARD TREASURER 1.0 0.0 X X 0 0 0 1588823 0 144185 13 false true false EDGE ONE 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 MACHINE MAINTENANCE 1394278 JACK HENRY ASSOCIATES PO BOX 609 MONETT MO 65708 SOFTWARE MAINTENANCE 758949 KASASA LTD PO BOX 527 LUBBOCK TX 79408 PRODUCT SUPPORT 690117 ACCESS SOFTEK INC 727 ALLSTON WAY BERKELEY CA 94710 FINANCIAL SOLUTIONS 411936 DOXIM INC 747 EAST WHITCOMB AVE MADISON HEIGHTS MI 48071 ENGAGEMENT SOLUTIONS 406095 22 0 FEES AND CHARGES 522100 10677955 10677955 INTERCHANGE INCOME 522100 7304421 7304421 INTEREST ON LOANS 522100 34611405 34611405 GAIN ON SALE OF LOANS 522100 231551 231551 52825332 1090433 1090433 0 0 8799 8799 0 8799 8799 1187600 99750 1198667 311271 -11067 -211521 -222588 -222588 0 0 0 0 0 0 0 0 0 INSURANCE REIMBURSEMENTS 524298 2198349 2198349 NON-MEMBER ATM FEES 525990 296068 296068 2494417 56196393 56114114 296068 -213789 0 0 0 0 1087357 0 10240913 645131 2255223 950439 0 16562 64529 0 0 0 0 3004165 3758565 1903455 0 1122374 319799 0 0 6827603 0 1679457 159501 ATM EXPENSE 2264828 ALLOWANCE FOR LOAN LOSSES 2723160 LOAN SERVICING EXPENSES 1132544 PROFESSIONAL SERVICES 678393 36404 40870402 10817328 12994456 15734524 67442756 0 0 0 0 0 0 0 0 601772569 679345187 0 0 1174295 1600824 30652547 16409912 13842339 14242635 3457605 1121008 6553602 7373441 0 0 0 0 7579147 10371412 660931409 794491719 7949575 5876220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 557253527 677521440 565203102 683397660 X 0 0 0 0 95728307 111094059 95728307 111094059 660931409 794491719 X 15325991 1580 38181 X false true X true false 0 3097934 3097934 0 12010407 4701630 7308777 0 1003892 601331 402561 0 14484786 11106951 3377835 0 55528 55528 14242635 0 MEMBERS' SHARE ACCOUNTS 658197610 FHLBI LOAN PAYABLE 19300000 ACCRUED INTEREST PAYABLE 23830 677521440 56197973 1580 1580 56196393 56196393 40870402 40870402 40870402 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/ASSISTANT BOARD TREASURER 380645 37484 3184 53386 4152 478851 TERRY KATZUR EVP 201535 43458 2200 19000 3288 269481 KATHLEEN SMITH VP OF BRANCH EXPERIENCE 124666 24402 3789 13138 3653 169648 BRYAN RANDALL CHIEF INFORMATION OFFICER 133770 13702 3993 13952 2570 167987 DAVID BRANDT CHIEF FINANCIAL OFFICER 142926 14312 1774 7648 4378 171038 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 2019, AMOUNTS DEFERRED UNDER THE PLAN WERE $32,825. 0 DUANE CHURCH EMPLOYEE - KAREN CHURCH FAMILY MEMBER 47067 COMPENSATION false DANA TALJONICK EMPLOYEE - KAREN CHURCH FAMILY MEMBER 65534 COMPENSATION false DEBRA CHAFFINS EMPLOYEE - BRIAN CHAFFINS FAMILY MEMBER 81897 COMPENSATION false CHRISTINA CHURCH EMPLOYEE - KAREN CHURCH FAMILY MEMBER 41839 COMPENSATION false FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS OPEN TO ANYONE WHO LIVES, WORKS, WORSHIPS, VOLUNTEERS, OR ATTENDS SCHOOL IN OR ARE BUSINESS OR OTHER LEGAL ENTITIES OF GENESEE, SAGINAW, LAPEER, SHIAWASEE, OAKLAND, OR LIVINGSTON COUNTIES MICHIGAN AS DESCRIBED IN THE ORGANIZATION BYLAWS AND COMMUNITY CHARTER. 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 2019. EXECUTIVE AND EMPLOYEE SALARIES ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15B 2019. 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 $38,181