2020-11-16T14:25:11-06:00 2019-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2019-01-01 380960035 CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION CRED 8772432528 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 ROBERT BAVA CEO 8772432528 2020-11-16 1 JOSEPH ZITO CPA P00648440 2482443000 104.11.88.150 2020-11-16 12:04:31 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z ROBERT BAVA 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 64553439 0 1359 X WWW.COMMUNITYCHOICECU.COM X 1935 MI COMMUNITY CHOICE CREDIT UNION IS A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE COMMITTED TO SERVING AS A TRUSTED ADVISOR TO OUR MEMBERS. WE ARE DEDICATED TO IMPROVING THE FINANCIAL LIVES OF OUR MEMBERS AND QUALITY OF LIFE FOR THE COMMUNITIES WE SERVE IN MICHIGAN. WE RECOGNIZE FOUR MAIN CORE VALUES THAT WE STRIVE TO DELIVER WITH EVERY EXPERIENCE: COMMITTED, CHARITABLE, CREDIBLE, AND UNITED. 12 12 410 12 758466 0 0 0 57604290 59601381 1866288 2884498 2216854 2067560 61687432 64553439 77200 52808 0 0 23455902 25266475 0 0 0 29041631 31810244 52574733 57129527 9112699 7423912 1076731500 1163543549 973886575 1043387690 102844925 120155859 X WE BELIEVE IN HELPING OUR NEIGHBORS ACHIEVE THE LIFE THEY DESIRE. 1 0 LOANS DEPOSIT ACCOUNTS DEBIT CARD SERVICES 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 0 0 0 0 0 1 1 0 0 1 43539 0 1 410 1 1 1 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KELLI WISNER-FRANK 8772432528 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 ROBERT BIGA SECRETARY 1.00 X 0 0 0 BRIAN WILSON CHAIRPERSON 1.00 X 0 0 0 MARY MIKO DIRECTOR 1.00 X 0 0 0 THOMAS COOK DIRECTOR 1.00 X 0 0 0 KATHLEEN BONUTTI DIRECTOR 1.00 X 0 0 0 TIMOTHY CROSSON JR V. CHAIRPERSON 1.00 X 0 0 0 MICHAEL PALAZZOLO TREASURER 1.00 X 0 0 0 CHERYL MARKS DIRECTOR 1.00 X 0 0 0 MARSHALL VICTOR B DIRECTOR 1.00 X 0 0 0 MITCHELL ERICKSON DIRECTOR 1.00 X 0 0 0 TAMRA PERRY DIRECTOR 1.00 X 0 0 0 TIMOTHY WELCER DIRECTOR 1.00 X 0 0 0 ROBERT BAVA CEO 40.00 X 718586 0 24171 KELLI WISNER-FRANK CFO 40.00 X 273488 0 23612 DANIEL MUNRO COO/EVP 40.00 X 372246 0 22881 TERESA MAYER CLO 40.00 X 274384 0 10254 DONNA SIEJUTT CHRO 40.00 X 233615 0 21515 SUSAN SETERA VP OF OPERATIONS 40.00 X 177622 0 6695 JENNIFER LYNN HURREN VP E-COMMERCE 40.00 X 188083 0 7176 JEFFREY DUBEY VP RISK MANAGEMENT 40.00 X 189124 0 20393 JENNY LUDWIGEN AVP MARKETING 40.00 X 170947 0 6407 BRIAN WILSON VP OF RETAIL DELIVERY 40.00 X 165916 0 6163 WENDI DIACONO WEALTH ADVISOR 40.00 X 189646 0 16357 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP M 40.00 X 228723 0 12089 BRENT LOWELL BUSINESS RELATIONSHIP MANA 40.00 X 153352 0 18185 CARLINGTON BUCKNOR VP OF TECHNOLOGY 40.00 X 148422 0 18768 BARBARA BABINGTON VP OF LENDING 40.00 X 137330 0 18542 3621484 0 233208 27 0 1 0 HOLZMAN CORKERY PLLC 28366 FRANKLIN ROAD SOUTHFIELD MI 480345503 LEGAL & RECOVERY SERVICES 309987 DOXIM 747 E WHITCOMB AVE MADISON HGTS MI 48071 DOCUMENT PROCESSING 211098 SMZ PO BOX 72552 CLEVELAND OH 44192 MARKETING SERVICES 171155 DIEBOLD PO BOX 643543 PITTSBURGH PA 152643543 ATM SERVICING 162102 EQUIPS 3470 N 127TH ST BROOKFIELD WI 53005 EQUIPMENT MAINTENANCE 151214 16 MEMBER LOANS 522100 43928893 43928893 FEE INCOME 522100 15672488 15672488 59601381 2884498 2884498 402000 0 402000 402000 402000 GAIN FROM CUSO 522100 907094 907094 FINANCIAL SERVICES INCOME 523000 422361 422361 INSURANCE INCOME 524298 239208 239208 96897 96897 1665560 64553439 63794973 758466 0 X 52808 2913278 17538372 714526 2488928 1611371 231242 337399 94977 -23303 1546377 3098267 1136490 960531 88291 5941927 83303 2559750 235781 PROVISION FOR LOAN LOSS 4240267 DEBIT/CREDIT EXPENSES 3739386 MAINTENANCE 2447539 LOAN SERVICING 2363734 2728286 57129527 16442127 19098385 20032919 24398823 4482513 6096028 9760990 9831096 889694499 944734550 1866741 1866217 59924033 23693272 35911214 36230761 59895090 59156718 7640422 28955545 1432100 1340376 29572885 31835050 1076731500 1163543549 11666289 12811955 45750000 34750000 916470286 995825735 973886575 1043387690 X 0 0 0 0 102844925 120155859 102844925 120155859 1076731500 1163543549 X 7423912 1509742 8377280 X X 0 1 X 1 0 9900789 9900789 34561560 11316850 23244710 171496 45732 125764 15290188 12330690 2959498 36230761 MEMBER SHARES 995825735 995825735 X 64553439 0 64553439 0 64553439 57129527 0 57129527 0 57129527 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14)), FROM FEDERAL INCOME TAXES. 1 COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 501(C)(3) 50808 FMV LABOR AND OTHER SERVICES TO FUND SCHOLARSHIPS THE FOUNDATION WILL ISSUE 1 0 PART I, LINE 2: GRANT RECIPIENTS OF OUR FOUNDATION'S COLLEGE SCHOLARSHIP PROGRAM ARE REQUIRED TO PROVIDE A COLLEGE TRANSCRIPT TO DETERMINE THAT MINIMUM GPA REQUIREMENTS HAVE BEEN MET, THAT THEY HAVE ATTENDED A COLLEGE IN MICHIGAN, AND THAT THEY ARE RESIDING IN MICHIGAN. X 1 1 X X X X X 1 1 0 ROBERT BAVA CEO 540361 0 177475 0 750 0 11200 0 12971 0 742757 0 0 0 KELLI WISNER-FRANK CFO 218656 0 47382 0 7450 0 10641 0 12971 0 297100 0 0 0 DANIEL MUNRO COO/EVP 288996 0 83000 0 250 0 9910 0 12971 0 395127 0 0 0 TERESA MAYER CLO 216430 0 47504 0 10450 0 10254 0 0 0 284638 0 0 0 DONNA SIEJUTT CHRO 183152 0 43013 0 7450 0 8544 0 12971 0 255130 0 0 0 SUSAN SETERA VP OF OPERATIONS 147615 0 22665 0 7342 0 6695 0 0 0 184317 0 0 0 JENNIFER LYNN HURREN VP E-COMMERCE 147705 0 37128 0 3250 0 7176 0 0 0 195259 0 0 0 JEFFREY DUBEY VP RISK MANAGEMENT 160914 0 27960 0 250 0 7737 0 12656 0 209517 0 0 0 JENNY LUDWIGEN AVP MARKETING 141039 0 26658 0 3250 0 6407 0 0 0 177354 0 0 0 BRIAN WILSON VP OF RETAIL DELIVERY 137268 0 25398 0 3250 0 6163 0 0 0 172079 0 0 0 WENDI DIACONO WEALTH ADVISOR 35093 0 152153 0 2400 0 6232 0 10125 0 206003 0 0 0 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP M 102966 0 125507 0 250 0 7870 0 4219 0 240812 0 0 0 BRENT LOWELL BUSINESS RELATIONSHIP MANA 96883 0 52687 0 3782 0 5214 0 12971 0 171537 0 0 0 CARLINGTON BUCKNOR VP OF TECHNOLOGY 123139 0 19783 0 5500 0 5797 0 12971 0 167190 0 0 0 BARBARA BABINGTON VP OF LENDING 118760 0 18320 0 250 0 5571 0 12971 0 155872 0 0 0 PART I, LINES 4A-B MICHAEL MCCAULEY RECEIVED A SEVERANCE PAYMENT DURING 2019 IN THE AMOUNT OF $28,199. ROBERT BAVA-CEO, DAN MUNRO-EVP, AND KELLI WISNER-FRANK CFO PARTICIPATE IN A 457B PLAN. THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, ROBERT BAVA, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. ROB BAVA CEO COLLATERAL ASSET SPLIT DOLLAR PLAN X 9350000 9831096 0 1 1 9831096 THOMAS COOK DIRECTOR/OWNER OF TEAM FACILITIES THOMAS COOK OWNS A FACILITIES COMPANY THAT HANDLES ALL OF THE CREDIT UNION FACILITY NEEDS FOR ALL LOCATIONS (LAWN SERVICE, OFFICE CLEANING, HEATING/COOLING, ETC.). 0 ROBERT BAVA BOARD MEMBER OF CREDIT UNION TRUST ROBERT BAVA WAS A BOARD MEMBER OF CREDIT UNION TRUST, PARTIALLY OWNED BY COMMUNITY CHOICE CREDIT UNION. 1 ROBERT BAVA BOARD MEMBER OF MEMBER DRIVEN TECHNOLOGIES COMMUNITY CHOICE CREDIT UNION OWNS 25% OF MEMBER DRIVEN TECHNOLOGIES 1 KELLI WISNER-FRANK BOARD MEMBER OF MEMBER FIRST MORTGAGE CUSO COMMUNITY CHOICE CREDIT UNION OWNS 11.2% OF MEMBER FIRST MORTGAGE 1 KELLI WISNER-FRANK BOARD MEMBER OF COMMERCIAL ALLIANCE CUSO COMMUNITY CHOICE CREDIT UNION OWNS 28.57% OF COMMERCIAL ALLIANCE 1 ROBERT BAVA BOARD MEMBER OF MICHIGAN TRUSTED TITLE AGENCY COMMUNITY CHOICE CREDIT UNION OWNS 28.57% OF COMMERCIAL ALLIANCE 1 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY. THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART III, LINE 2 THE ORGANIZATION COMPLETED A MERGER WITH FEDERAL MOGUL EMPLOYEES FEDERAL CREDIT UNION DURING 2019. THE FME MEMBERS BROUGHT TO CCCU $54 MILLION IN LOANS, AND $46 MILLION IN DEPOSIT ACCOUNTS. CCCU IS ABLE TO PROVIDE ENHANCED PRODUCT AND SERVICE OFFERINGS TO THE FORMER FME MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE AND IS ABLE TO VOTE FOR THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MAJOR DECISIONS MADE BY THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS, STOCKHOLDERS, OR OTHER PERSONS; HOWEVER, DAY TO DAY DECISIONS ARE NOT SUBJECT TO APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 WILL NOT BE PROVIDED TO THE ORGANIZATION'S GOVERNING BODY PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH MEMBER OF THE BOARD OF DIRECTORS, MANAGEMENT, AND TEAM MEMBERS MUST BE TRAINED, REVIEW, AND SIGN OFF ON A CONFLICT OF INTEREST STATEMENT LISTING ANY POTENTIAL CONFLICTS. IF A POTENTIAL CONFLICT IS LISTED OR FOUND, EACH IS REVIEWED ON A CASE BY CASE BASIS. ANY CONFLICTS THAT ARE FOUND ARE DEALT WITH IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A THIRD PARTY VENDOR, D HILTON, TO ASSESS AND EVALUATE EVERY POSITION IN THE ORGANIZATION WHICH HELPS THE ORGANIZATION DEVELOP AND MAINTAIN COMPETITIVE PAY RATES AND IMPROVE EMPLOYEE PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES -23,303. FORM 990, PART IX, LINE 24E HOME BANKING 1,190,732. ATM EXPENSES 686,040. MISCELLANEOUS EXPENSE 326,099. MERGER EXPENSES 264,686. TRAINING/DEVELOPMENT/EDUCATION 260,729. FORM 990, PART XI, LINE 9: ACCUMULATED OTHER COMPREHENSIVE INCOME RELATIVE TO THE DEFINED BENEFIT PLAN 234,342. EQUITY ACQUIRED IN MERGER 8,142,938. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 28C: ROBERT BAVA IS ON THE BOARD OF DIRECTORS OF THE FOLLOWING ORGANIZATIONS: MEMBER DRIVEN TECHNOLOGIES CREDIT UNION TRUST KELLI WISNER-FRANK IS ON THE BOARD OF DIRECTORS FOR COMMERCIAL ALLIANCE AND MEMBER FIRST MORTGAGE. 3099 BIDDLE LLC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 823577624 PROPERTY MANAGEMENT MI 445800 6010832 COMMUNITY CHOICE CREDIT UNION COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 PUBLIC CHARITY MI 501(C)(3) 7 COMMUNITY CHOICE CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 COMMUNITY CHOICE FOUNDATION B 45000 ACTUAL COMMUNITY CHOICE FOUNDATION L 7808 ESTIMATE COMMUNITY CHOICE FOUNDATION O 64190 ESTIMATE