2020-11-10T18:54:40-06:00 2019-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2019-01-01 381464920 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN-UNIVERSITY OF MICHIGAN CU CRED 7346628200 340 E HURON ANN ARBOR MI 48104 TOMAS KUSLIKIS VP OF ACCOUNTING AND FINANCE 7346628200 2020-11-10 1 ROBERT PARKS CPA P00740435 2482443000 104.11.88.150 2020-11-10 16:11:56 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2022-01-07 14:23:13Z TIFFANY FORD 340 E HURON ANN ARBOR MI 48104 50417594 0 X WWW.UMCU.ORG X 1954 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 9 9 235 11 86859 -32698 0 0 41617779 47004511 2143794 2186788 1749124 1226295 45510697 50417594 0 0 0 0 13374919 14496554 0 0 0 22016892 26643180 35391811 41139734 10118886 9277860 907339037 953301122 823444937 860505909 83894100 92795213 FINANCIAL SERVICES. THE UNIVERSITY OF MICHIGAN CREDIT UNION IS A FINANCIAL INSTITUTION CHARTERED IN THE STATE OF MICHIGAN. THE CREDIT UNION PROVIDES A WIDE RANGE OF FINANCIAL SERVICES TO THE MEMBER/OWNERS AT A REASONABLE COST. 0 0 PROVIDE 100,104 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, CLUB, AND BUSINESS ACCOUNTS TOTALING 205,764. PROVIDE 63,697 LOANS INCLUDING VEHICLE, CREDIT CARD, UNSECURED, STUDENT, INDIRECT, RECREATIONAL VEHICLE, MORTGAGE, BUSINESS, OVERDRAFT LINES OF CREDIT, AND CREDIT BUILDER. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, CHECK CASHING, BILL PAY, OVERDRAFT PROTECTION/COURTESY PAY, VARIOUS INSURANCE AND INVESTMENT PRODUCTS TO ALL ELIGIBLE MEMBERS. 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 11021 0 1 235 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X UNIVERSITY OF MICHIGAN CREDIT UNION 7346628200 340 E HURON ANN ARBOR MI 48104 PAUL KIRSCH CHAIRPERSON 3.00 X 0 0 0 LUKELAND GENTLES DIRECTOR 3.00 X 0 0 0 FRANK CIANCIOLA DIRECTOR 3.00 X 0 0 0 JAMES MIDDLEMAS DIRECTOR 3.00 X 0 0 0 MARY KRASNY ASSOCIATE DIRECTOR 3.00 X 0 0 0 VICTORIA BENNETT SECRETARY 3.00 X 0 0 0 KAREN PARKER CHAIRPERSON 3.00 X 0 0 0 SHAWN POLLACK DIRECTOR 3.00 X 0 0 0 EARL BELL TREASURER 3.00 X 0 0 0 SUSAN MCCLANAHAN DIRECTOR 3.00 X 0 0 0 TIFFANY FORD PRESIDENT/CEO 40.00 X 992799 0 53380 TOMAS KUSLIKIS SR VP OF ACCOUNTING AND FINAN 40.00 X 193907 0 32517 PATRICIA KEENE VP OF TALENT DEVELOPMENT 40.00 X 200887 0 28671 DEANNE RAMOS VP OF BRANCH OPERATIONS 40.00 X 176773 0 31133 JULIE WIGLEY VP OF BRAND & TALENT DEVEL 40.00 X 209281 0 20834 TINA HAMILTON VP OF LENDING 40.00 X 174913 0 31063 XIANG WU VP OF INFORMATION TECHNOLO 40.00 X 153212 0 28760 2101772 0 226358 7 0 1 0 JS VIG CONSTRUCTION COMPANY 15040 CLEAT STREET PLYMOUTH MI 48170 BUILDING CONSTRUCTION 3260001 IMG PO BOX 16533 PALATINE IL 60055 ADVERTISING AGREEMENT 536854 NBS COMMERICAL INTERIORS 6973 RELIABLE PARKWAY CHICAGO IL 60686 FURNITURE PURCHASES 511953 IDS 747 EAST WHITCOMB AVE MADISON HEIGHTS MI 48071 BANK STATEMENTS & NOTICES 355001 DIEBOLD PO BOX 643543 PITTSBURGH PA 152643543 ATM MAINTENANCE/CONTRACTS 351658 9 LOAN INTEREST 522100 35439232 35439232 FEE AND OTHER INCOME 522100 11565279 11565279 47004511 2186788 2186788 550256 0 550256 550256 550256 NON-OPERATING INCOME 522100 589180 589180 NON-MEMBER ATM FEE INCOME 900099 86859 86859 676039 50417594 48143947 86859 2186788 X 1502161 9853766 2291591 849036 47426 112824 537449 2075326 899279 654092 1281331 64812 81016 3168803 2300366 180532 PROVISION FOR LOAN LOSS 5844483 VISA EXPENSE 3725765 LOAN SERVICING 1758588 MAINTENANCE 1592126 2318962 41139734 5162332 6408266 57686744 91923138 3144979 4580591 698244548 747806516 1144491 1297814 54363384 15775942 33543349 38587442 87822019 43486865 5798794 3284594 128691 88052 14663090 15837844 907339037 953301122 10837857 9735149 50406824 52806824 762200256 797963936 823444937 860505909 X 0 0 0 0 83894100 92795213 83894100 92795213 907339037 953301122 X 9277860 -501305 124558 X X 0 1 X 1 0 14787768 14787768 21977809 3198585 18779224 1917455 1521731 395724 12262082 9194640 3067442 3418270 1860986 1557284 38587442 MEMBER SHARES 797963936 797963936 X 50417594 0 50417594 0 50417594 41139734 0 41139734 0 41139734 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO URELATED BUSINESS INCOME TAX. THE NET UNRELATED BUSINESS INCOME TAX IS IMMATERIAL TO THE FINANCIAL STATEMENTS AS A WHOLE. X X 0 0 0 TIFFANY FORD PRESIDENT/CEO 479423 0 511780 0 1596 0 32239 0 21141 0 1046179 0 0 0 TOMAS KUSLIKIS SR VP OF ACCOUNTING AND FINAN 171625 0 22000 0 282 0 17181 0 15336 0 226424 0 0 0 PATRICIA KEENE VP OF TALENT DEVELOPMENT 177314 0 22000 0 1573 0 15544 0 13127 0 229558 0 0 0 DEANNE RAMOS VP OF BRANCH OPERATIONS 154308 0 22000 0 465 0 15868 0 15265 0 207906 0 0 0 JULIE WIGLEY VP OF BRAND & TALENT DEVEL 176518 0 29500 0 3263 0 17180 0 3654 0 230115 0 0 0 TINA HAMILTON VP OF LENDING 152606 0 22000 0 307 0 15714 0 15349 0 205976 0 0 0 XIANG WU VP OF INFORMATION TECHNOLO 130830 0 22000 0 382 0 13755 0 15005 0 181972 0 0 0 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 THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING FOR A THREE YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN CREDIT UNION DECISIONS ARE SUBJECT TO MEMBER APPROVAL SUCH AS CHART CONVERSIONS AND MERGERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE VP OF ACCOUNTING AND FINANCE PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C A REVIEW OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS CONDUCTED ANNUALLY BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 AN OUTSIDE FIRM SPECIALIZING IN COMPENSATION BENCHMARKS IS USED TO SET GUIDELINES FOR SALARY RANGE LEVELS BASED ON COMPETITION AND MARKET RATES. THE SALARY STRUCTURE IS REVIEWED PERIODICALLY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PUBLISHED MONTHLY. ALL OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 537,449. FORM 990, PART IX, LINE 24E TRANSACTIONS 875,670. EMPLOYEE APPRECIATION/RECRUITING 554,178. STAFF EDUCATION 326,183. SERVICE CHARGES 263,195. EXAMINATION FEES 188,973. MISCELLANEOUS 110,763. FORM 990, PART XI, LINE 9: OCI ADJUSTMENT-POSTRETIREMENT HEALTHCARE PLAN 124,558. 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.