GREAT LAKES CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- GREAT LAKES CREDIT UNION (EIN 36-1163912)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-06
- IRS object ID
- 202503109349304805
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-06T18:46:59-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 994260840 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 361163912 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT LAKES CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GREA | BusinessNameControlTxt |
| Phone | 8475787000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2111 WAUKEGAN ROAD | AddressLine1Txt |
| City | BANNOCKBURN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60015 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TIMOTHY LUKOMSKI | PersonNm |
| Person Title | CHIEF FIANANCIAL OFFICER | PersonTitleTxt |
| Phone | 8475787000 | PhoneNum |
| Signature | 2025-11-06 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AUBREY CLEGG | PreparerPersonNm |
| PTIN | P01076395 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Preparation | 2025-10-29 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEVEN BUGG | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2111 WAUKEGAN ROAD | AddressLine1Txt |
| City | BANNOCKBURN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60015 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $111,684,751 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.GLCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | THE PRIMARY EXEMPT PURPOSE OF GREAT LAKES CREDIT UNION (GLCU) IS TO PROVIDE LOANS, SAVINGS ACCOUNTS AND OTHER FINANCIAL SERVICES THAT PROMOTE THE FINANCIAL PROSPERITY OF OUR MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 290 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $354,558 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $15,206 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $534,675 | PYContributionsGrantsAmt |
| CY Contributions Grants | $346,088 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $56,889,514 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $65,112,284 | CYProgramServiceRevenueAmt |
| PY Investment Income | $7,293,005 | PYInvestmentIncomeAmt |
| CY Investment Income | $15,154,059 | CYInvestmentIncomeAmt |
| PY Other Revenue | $43,378 | PYOtherRevenueAmt |
| CY Other Revenue | $53,586 | CYOtherRevenueAmt |
| PY Total Revenue | $64,760,572 | PYTotalRevenueAmt |
| CY Total Revenue | $80,666,017 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $24,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $53,568 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $21,891,886 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $23,513,782 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $40,137,079 | PYOtherExpensesAmt |
| CY Other Expenses | $60,246,692 | CYOtherExpensesAmt |
| PY Total Expenses | $62,052,965 | PYTotalExpensesAmt |
| CY Total Expenses | $83,814,042 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,707,607 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$3,148,025 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,313,509,604 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,481,537,874 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,221,676,485 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,385,759,569 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $91,833,119 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $95,778,305 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO OFFER PRODUCTS AND SERVICES FOR OUR MEMBERS TO ACHIEVE THEIR FINANCIAL GOALS. WE WILL BUILD VALUED RELATIONSHIPS, ONE MEMBER AT A TIME. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | LOANS ARE GRANTED TO INDIVIDUALS WHO ARE MEMBERS IN GOOD STANDING WITH THE CREDIT UNION AND WHO QUALIFY FOR SUCH LOANS. GLCU PROVIDES THE FOLLOWING TYPES OF LOANS: MORTGAGES, HELOC'S, AUTO, RV, UNSECURED, BOAT AND COMMERCIAL. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ATM DEBIT CARDS ARE AVAILABLE TO MEMBERS WHO APPLY FOR ELECTRONIC ACCESS TO THEIR ACCOUNTS FOR DEPOSIT AND WITHDRAWAL OF FUNDS AND ACCOUNT INFORMATION. VARIOUS TYPES OF CHECKING ACCOUNTS ARE OFFERED TO MEMBERS, SOME WITH NO MONTHLY SERVICE FEE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | VARIOUS INSURANCE PRODUCTS ARE OFFERED TO MEMBERS. TYPES OF PRODUCTS OFFERED INCLUDE CREDIT LIFE, CREDIT DISABILITY, MECHANICAL BREAKDOWN PROTECTION (MBP) AND FINANCIAL GAP PROTECTION. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 30640 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 290 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STEVEN BUGG | PersonNm |
| Phone | 8475787000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2111 WAUKEGAN ROAD | AddressLine1Txt |
| City | BANNOCKBURN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60015 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| STEPHEN M PARK | |||||||
| DIRECTOR | 7.00 | Yes (X) | $0 | $0 | $0 | ||
| PATRICE PRICE | |||||||
| BOARD CHAIR | 7.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES A FABRIE | |||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| JIM MARCH | |||||||
| EMERITUS DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| R LEE PIEKARZ | |||||||
| BOARD TREASURER | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| KEVIN LEMAN | |||||||
| BOARD VICE CHAIR | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVID GOLES | |||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| CATHY CORBI | |||||||
| BOARD SECRETARY | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| SARAH MARSHALL | |||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM HARLAN | |||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| STEVEN BUGG | |||||||
| PRESIDENT/CEO | 40.00 | $685,247 | $0 | $50,455 | Yes (X) | ||
| TIMOTHY LUKOMSKI | |||||||
| CHIEF FINANCIAL OFFICER | 40.00 | $313,735 | $0 | $50,172 | Yes (X) | ||
| MICHAEL HERSH | |||||||
| CHIEF ADMINISTRATIVE OFFICER | 40.00 | $276,900 | $0 | $46,171 | Yes (X) | ||
| ELIZABETH OSBORNE | |||||||
| CHIEF OPERATIONS OFFICER | 40.00 | $259,885 | $0 | $40,428 | Yes (X) | ||
| FRED CAMPOBASSO | |||||||
| CHIEF LENDING OFFICER | 40.00 | $272,089 | $0 | $31,795 | Yes (X) | ||
| PATRICK BASLER | |||||||
| CHIEF EXPERIENCE OFFICER | 40.00 | $260,853 | $0 | $50,395 | Yes (X) | ||
| MICHAEL ABRAHAM | |||||||
| CHIEF STRATEGY OFFICER | 40.00 | $130,812 | $0 | $9,685 | Yes (X) | ||
| DIANA BYERS | |||||||
| SVP ENTERPRISE RISK MANAGE | 40.00 | $210,981 | $0 | $19,127 | Yes (X) | ||
| DION ROSECRANS | |||||||
| MANAGER IT | 40.00 | $146,577 | $0 | $21,843 | Yes (X) | ||
| DONNA WIOREK | |||||||
| SENIOR VICE PRESIDENT - AC | 40.00 | $233,645 | $0 | $11,734 | Yes (X) | ||
| PREDRAG GRMUSA | |||||||
| VP OF HUMAN RESOURCES & OR | 40.00 | $153,202 | $0 | $43,621 | Yes (X) | ||
| BRIAN GAWIN | |||||||
| VP COMMERCIAL LENDING | 40.00 | $196,712 | $0 | $33,885 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,140,638 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $409,311 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 38 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JACK HENRY & ASSOC INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | SOFTWARE/LICENSE FEES FOR ENSENTA (ATM), | $1,132,419 |
| ACCESS SOFTEK INC | |||||
| 727 ALLSTON SUITE C | BERKELY | CA | 94710 | MULTIPLE SERVICES FEE FOR OUR ONLINE/MOB | $1,004,995 |
| VELOCITY PARENT CORPORATION | |||||
| PO BOX 460939 | FORT LAUDERDALE | FL | 33346 | ICS REFERRALS RESPONSES, ARS LICENSING/P | $802,044 |
| NEWGROUND INTERNATIONAL | |||||
| PO BOX 6228 | CAROL STREAM | IL | 60197 | CONTRACTOR- DESIGN AND BUILDOUT OF NEW B | $781,846 |
| SIGNAL 88 LLC | |||||
| PO BOX 8246 | OMAHA | NE | 68144 | SECURITY SERVICE FOR BRANCH LOCATIONS | $589,006 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 40 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $330,188 | GovernmentGrantsAmt |
| All Other Contributions | $15,900 | AllOtherContributionsAmt |
| Total Contributions | $346,088 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $53,059,829 | $53,059,829 | |
| FEES & CHARGES | 522100 | $11,265,474 | $11,265,474 | |
| MORTGAGE LOAN INCOME | 522100 | $425,033 | $425,033 | |
| FINANCE AND INSURANCE | 520000 | $361,948 | $361,948 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $65,112,284 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,603,636 | TotalRevenueColumnAmt |
| Exclusion | $14,603,636 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $31,569,157 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $31,018,734 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $550,423 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $550,423 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $550,423 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| OTHER INCOME | 522100 | $60,976 | $60,976 | |
| ENERGY (PARTNERSHIP INCOME) | 220000 | $42 | $42 | |
| HR SERVICES (PARTNERSHIP INCOME) | 560000 | -$7,432 | -$7,432 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $53,586 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $80,666,017 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $65,361,735 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $354,558 | UnrelatedBusinessRevenueAmt |
| Exclusion | $14,603,636 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,068 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,478,622 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,141,304 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $810,236 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,639,801 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,443,819 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $361,828 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $214,428 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,084 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,194,646 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,070,390 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,780,717 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,689,891 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,932,125 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $413,174 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,528,120 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,954,658 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $201,073 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $3,905,657 |
| RECAPTURE OF CREDIT LOS | $3,090,478 |
| MISCELLANEOUS EXPENSES | $886,423 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $83,814,042 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,582,980 | BOYAmt |
| EOY | $60,448,552 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,768,288 | BOYAmt |
| EOY | $14,659,300 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,612,027 | BOYAmt |
| EOY | $4,439,415 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,049,778,933 | BOYAmt |
| EOY | $1,159,606,723 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,338,668 | BOYAmt |
| EOY | $2,538,328 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $48,202,444 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $23,949,286 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,571,387 | BOYAmt |
| EOY | $24,253,158 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $111,372,309 | BOYAmt |
| EOY | $129,421,381 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,684,253 | BOYAmt |
| EOY | $7,964,723 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,749 | BOYAmt |
| EOY | $12,589,878 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,747,010 | BOYAmt |
| EOY | $65,616,416 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,313,509,604 | BOYAmt |
| EOY | $1,481,537,874 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,454,111 | BOYAmt |
| EOY | $25,218,982 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,269,688 | BOYAmt |
| EOY | $6,567,858 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $190,914,183 | BOYAmt |
| EOY | $127,560,316 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $14,405,254 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,004,038,503 | BOYAmt |
| EOY | $1,212,007,159 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,221,676,485 | BOYAmt |
| EOY | $1,385,759,569 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,833,119 | BOYAmt |
| EOY | $95,778,305 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,833,119 | BOYAmt |
| EOY | $95,778,305 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,313,509,604 | BOYAmt |
| EOY | $1,481,537,874 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$3,148,025 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,073,659 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $6,019,552 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $7,680 | PoliticalExpendituresAmt |
| Internal Funds Contributed | $7,680 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $7,680 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION POLITICAL ACTION COUNCIL | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1807 WEST DIEHL ROAD | AddressLine1Txt |
| City | NAPERVILLE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60563 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363092340 | EIN |
| Paid Internal Funds | $7,680 | PaidInternalFundsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE C, PART I-A, LINE 1 | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION MAKES POLITICAL EXPENDITURES TO THE CREDIT UNION POLITICAL ACTION COUNCIL FOR THE PURPOSE OF SUPPORTING THE CREDIT UNION INDUSTRY. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,666,583 | OtherCostOrOtherBasisAmt |
| Book Value | $8,666,583 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $26,739,368 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,595,767 | DepreciationAmt |
| Book Value | $12,143,601 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,923,146 | OtherCostOrOtherBasisAmt |
| Depreciation | $992,618 | DepreciationAmt |
| Book Value | $930,528 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,914,289 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,843,963 | DepreciationAmt |
| Book Value | $2,070,326 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $959,058 | OtherCostOrOtherBasisAmt |
| Depreciation | $516,938 | DepreciationAmt |
| Book Value | $442,120 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $24,253,158 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SHARES | Desc |
| Amt | $1,212,007,159 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,212,007,159 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $80,666,017 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $80,666,017 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $80,666,017 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $83,814,042 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $83,814,042 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $83,814,042 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION COLLECTS (ON A MONTHLY BASIS) PAYMENT FROM THEIR MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INLCUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14)), FROM FEDERAL INCOME TAX. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GLCU FOUNDATION FOR FINANCIAL EMPOWERMENT | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2111 WAUKEGAN ROAD | AddressLine1Txt |
| City | BANNOCKBURN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60015 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 470970671 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $36,068 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | COMMITMENT TO BUILDING FINANCIAL WELL-BEING FOR MEMBERS, EMPLOYEES, AND COMMUNITIES. | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | COLLEGE SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 7 | RecipientCnt |
| Cash Grant | $17,500 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | CONTRIBUTIONS TO ORGANIZATIONS ARE NOT CHARITABLE CONTRIBUTIONS AND ARE NOT MONITORED BY THE CREDIT UNION SUBSEQUENT TO DISBURSEMENT. HOWEVER, TWO OF THE CREDIT UNION'S BOARD MEMBERS ARE ALSO MEMBERS OF THE FOUNDATION'S BOARD. THE FUNCTION OF THE BOARD IS TO PROVIDE OVERSIGHT AND TO ENSURE THE FUNDS DISBURSED BY THE FOUNDATION ALIGN WITH THE FOUNDATION'S EXEMPT PURPOSE AND MISSION. SEVEN $2,500 SCHOLARSHIPS WERE AWARDED TO STUDENTS PLANNING TO ATTEND OR CURRENTLY ATTENDING AN ACCREDITED POST-SECONDARY INSTITUTION OR VOCATIONAL/TRADE SCHOOL. APPLICANTS MUST HAVE A MINIMUM OF A 2.50 CUMULATIVE GPA ON A 4.00 SCALE AND MUST BE A MEMBER OF GREAT LAKES CREDIT UNION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STEVEN BUGG | ||||||||||||||
| PRESIDENT/CEO | $518,197 | $0 | $162,000 | $0 | $5,050 | $0 | $29,846 | $0 | $20,609 | $0 | $735,702 | $0 | $0 | $0 |
| TIMOTHY LUKOMSKI | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $280,009 | $0 | $20,900 | $0 | $12,826 | $0 | $23,000 | $0 | $27,172 | $0 | $363,907 | $0 | $0 | $0 |
| MICHAEL HERSH | ||||||||||||||
| CHIEF ADMINISTRATIVE OFFICER | $252,057 | $0 | $18,677 | $0 | $6,166 | $0 | $23,000 | $0 | $23,171 | $0 | $323,071 | $0 | $0 | $0 |
| PATRICK BASLER | ||||||||||||||
| CHIEF EXPERIENCE OFFICER | $237,657 | $0 | $17,562 | $0 | $5,634 | $0 | $23,000 | $0 | $27,395 | $0 | $311,248 | $0 | $0 | $0 |
| FRED CAMPOBASSO | ||||||||||||||
| CHIEF LENDING OFFICER | $247,663 | $0 | $17,696 | $0 | $6,730 | $0 | $23,000 | $0 | $8,795 | $0 | $303,884 | $0 | $0 | $0 |
| ELIZABETH OSBORNE | ||||||||||||||
| CHIEF OPERATIONS OFFICER | $235,998 | $0 | $17,926 | $0 | $5,961 | $0 | $13,256 | $0 | $27,172 | $0 | $300,313 | $0 | $0 | $0 |
| DONNA WIOREK | ||||||||||||||
| SENIOR VICE PRESIDENT - AC | $214,723 | $0 | $17,173 | $0 | $1,749 | $0 | $2,939 | $0 | $8,795 | $0 | $245,379 | $0 | $0 | $0 |
| BRIAN GAWIN | ||||||||||||||
| VP COMMERCIAL LENDING | $179,430 | $0 | $15,670 | $0 | $1,612 | $0 | $21,854 | $0 | $12,031 | $0 | $230,597 | $0 | $0 | $0 |
| DIANA BYERS | ||||||||||||||
| SVP ENTERPRISE RISK MANAGE | $193,301 | $0 | $15,636 | $0 | $2,044 | $0 | $10,332 | $0 | $8,795 | $0 | $230,108 | $0 | $0 | $0 |
| PREDRAG GRMUSA | ||||||||||||||
| VP OF HUMAN RESOURCES & OR | $139,041 | $0 | $13,119 | $0 | $1,042 | $0 | $16,226 | $0 | $27,395 | $0 | $196,823 | $0 | $0 | $0 |
| DION ROSECRANS | ||||||||||||||
| MANAGER IT | $135,676 | $0 | $9,389 | $0 | $1,512 | $0 | $21,843 | $0 | $0 | $0 | $168,420 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | GREAT LAKES CREDIT UNION ALLOWS FIRST CLASS TRAVEL FOR THE CEO AND DIRECTORS FOR BUSINESS TRAVEL. ADDITIONALLY, THE CREDIT UNION ALLOWS A COMPANION TO JOIN EACH DIRECTOR OR MEMBER OF THE EXECUTIVE MANAGEMENT TEAM ON ONE BUSINESS TRIP PER YEAR. THE TRAVEL COMPANIONS ARE EXPECTED TO PARTICIPATE IN ANY NETWORKING EVENTS AND REPRESENT THE CREDIT UNION. |
| PART I, LINE 4B | THE PRESIDENT/CEO, STEVEN BUGG, PARTICIPATES IN A 457(F) PLAN. ADDITIONALLY, THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO ITS PRESIDENT/CEO, STEVEN BUGG AND CHIEF STRATEGY OFFICER, MICHAEL ABRAHAM, THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AS PER THE CONTRACTUAL AGREEMENT, THE PARTICIPANTS 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 UP TO THE PREMIUMS PAID INTO THE POLICIES. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS THE EXECUTIVE'S LOAN BALANCE WHICH INCLUDES INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. SEE SCHEDULE L. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| STEVEN BUGG | |||||||
| PRESIDENT/CEO | SPLIT DOLLAR PLAN PREMIUM | Yes (X) | $3,800,000 | $3,796,651 | 0 | Yes (1) | Yes (1) |
| MICHAEL ABRAHAM | |||||||
| CHIEF STRATEGY OFFICER | SPLIT DOLLAR PLAN PREMIUM | Yes (X) | $725,000 | $642,764 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $4,439,415 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | AS A RESULT OF THE MERGERS WITH ENCURAGE FINANCIAL NETWORK CREDIT UNION EFFECTIVE JUNE 1, 2024 AND CHICAGO MUNICIPAL EMPLOYEES CREDIT UNION EFFECTIVE DECEMBER 31, 2024, THE CREDIT UNION'S BYLAWS WERE AMENDED TO EXPAND ITS MEMBERSHIP TO ALSO INCLUDE THE FOLLOWING: ANYONE LIVING OR WORKING IN THE FOLLOWING GEOGRAPHICAL BOUNDARIES IN COOK COUNTY: NORTHERN BOUNDARY - CENTRAL STREET (EVANSTON, IL) GOING WEST FOLLOWING CENTRAL ROAD, EAST BOUNDARY - LAKE MICHIGAN, FOLLOWING THE INDIANA BORDER TO COOK COUNTY LINE, SOUTHERN BOUNDARY - COOK COUNTY BORDER, WEST BOUNDARY, COUNTY/WILL COUNTY/DUPAGE COUNTY INTERSECTION, THEN FOLLOWING THE COOK COUNTY BORDER STRAIGHT NORTH, INTERSECTING WITH CENTRAL ROAD ON THE NORTH; THE FORMER CHICAGO MUNICIPAL EMPLOYEES CREDIT UNION; ANY EMPLOYEE OF THE CITY OF CHICAGO, INCLUDING THE CHICAGO BOARD OF EDUCATION NON-TEACHING PERSONNEL; ANY EMPLOYEE OF THE CHICAGO MUNICIPAL EMPLOYEES CREDIT UNION; THE CHICAGO PARK DISTRICT, CHICAGO, IL; THE PUBLIC BUILDINGS COMMISSION; THE MUNICIPAL EMPLOYEES' ANNUITY AND BENEFIT PENSION FUND; THE CHICAGO HOUSING AUTHORITY, CHICAGO, IL; CITY COLLEGES OF CHICAGO; ANY EMPLOYEE OF THE CHICAGO PUBLIC SCHOOLS (CPS) TEACHER HOUSING RESOURCE CENTER (THRC), INCLUDING TEACHERS AND NON-TEACHING EMPLOYEES; G4S SOLUTIONS (USA), INC., WESTCHESTER, IL; CHICAGO TRANSIT AUTHORITY (CTA), CHICAGO, IL; GROSSINGER CITY AUTOPLEX, CHICAGO, IL; METRA, CHICAGO, IL; GOLUB REALTY SERVICES LLC, CHICAGO, IL; ANY STUDENT OR EMPLOYEE OF COLUMBIA COLLEGE; ANY ACTIVE SERGEANT, LIEUTENANT OR CAPTAIN OF THE CHICAGO POLICE DEPARTMENT; OR ANY EMPLOYEE OR RETIREE OF: BLUE CROSS ASSOCIATION OR BLUE SHIELD ASSOCIATION WHO WORK IN CHICAGO, IL, NEW YORK, NY, DALLAS, TX, ATLANTA, GA OR WASHINGTON, D.C.; BCS LIFE INSURANCE GROUP, A WHOLLY OWNED SUBSIDIARY OF BLUE CROSS AND BLUE SHIELD ASSOCIATION, WHO WORK IN CHICAGO, IL; BUSINESS SYSTEMS CORPORATION OF AMERICA WHO WORK IN CHICAGO, IL; THE JOINT COMMISSION ON ACCREDITATION OF HOSPITALS WHO WORK IN CHICAGO, IL; OR THE FORMER HEALTH CARE ASSOCIATIONS FEDERAL CREDIT UNION; ANY OWNER, VENDOR, EMPLOYEE, VENDOR EMPLOYEE OR FAMILY MEMBER OF AN OWNER, VENDOR, EMPLOYEE OR VENDOR EMPLOYEE OF GAGE BUILDING CONDO ASSOCIATION. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. ALL MEMBERS OF GREAT LAKES CREDIT UNION ARE GIVEN ONE VOTE IN ELECTIONS WITHOUT PREFERENCE TO THE AMOUNT OF FUNDS THEY HAVE ON DEPOSIT WITH THE CREDIT UNION. |
| FORM 990, PART VI, SECTION A, LINE 7A | GREAT LAKES CREDIT UNION IS A MEMBER OWNED COOPERATIVE BUSINESS ORGANIZATION, GOVERNED BY A TEN MEMBER BOARD OF DIRECTORS. THE BOARD IS COMPRISED OF ACTIVE MEMBERS OF THE CREDIT UNION WHO ARE SELECTED BY THE MEMBERSHIP THROUGH A DEMOCRATIC ELECTION PROCESS. |
| 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 ORGANIZATION'S MANAGEMENT REVIEWS THE FORM 990 IN DETAIL WITH THEIR PAID TAX PREPARERS. SUBSEQUENT TO THIS REVIEW, A FULL COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY DURING THE ORGANIZATION'S BOARD MEETING PRIOR TO FILING WITH THE IRS. ANY BOARD MEMBERS NOT PRESENT AT THIS BOARD MEETING ARE SENT A PAPER OR ELECTRONIC COPY OF THE FORM 990 PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION'S OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST THEY MAY HAVE WITH THE ORGANIZATION. THE CEO REVIEWS EACH POLICY STATEMENT SIGNED BY THESE INDIVIDUALS TO DETERMINE IF ANY CONFLICTS EXIST AND NEED TO BE BROUGHT TO THE ATTENTION OF THE BOARD. IF A CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN FROM ANY RELATED DISCUSSION, VOTE, OR SIMILAR ACTION ON THE MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | FORM 990, PART VI, LINE 15A GREAT LAKES CREDIT UNION USED EXTERNAL SALARY DATA FROM CUES, COMPEASE, AND PEER GROUP FORUMS TO PROVIDE TO THE BOARD. THE BOARD REVIEWS PRESIDENT/CEO DATA FOR DETERMINING COMPENSATION AND PRESIDENT/CEO EXECUTIVE SURVEY DATA FOR EXECUTIVE SALARY DETERMINATION. THE PROCESS WAS LAST UNDERGONE IN 2024, AND WAS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, LINE 15B TO DETERMINE THE COMPENSATION FOR ORGANIZATIONAL OFFICERS AND OTHER KEY EMPLOYEES, GREAT LAKES CREDIT UNION USES COMPEASE FOR JOB LEVELING AND SALARY SURVEYS FOR COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. IN ADDITION, GREAT LAKES CREDIT UNION REFERENCES SALARY SURVEYS TO VALIDATE INFORMATION FROM COMPEASE. THE BOARD REVIEWS THE DATA FOR SALARY DETERMINATION. THIS PROCESS WAS LAST UNDERGONE IN 2024, AND WAS DOCUMENTED IN THE BOARD MINUTES. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR VIEWING ON NCUA.GOV VIA THE QUARTERLY CALL REPORT. |
| FORM 990, PART IX, LINE 11G | OTHER PROFESSIONAL SERVICES 9,194,646. |
| FORM 990, PART XI, LINE 9: | OTHER COMPREHENSIVE INCOME/(LOSS) - POST-RETIREMENT HEALTHCARE PLAN -95,358. EQUITY ACQUIRED IN MERGER 6,114,910. |
| 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. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| GLCU HOLDINGS LLC | |||||||||
| 2111 WAUKEGAN RD | BANNOCKBURN | IL | 60015 | 933339026 | HOLDING COMPANY | IL | $981,718 | $16,898,410 | GREAT LAKES CREDIT UNION |
| MORTGAGE FORWARD LLC | |||||||||
| 2111 WAUKEGAN RD | BANNOCKBURN | IL | 60015 | 933414089 | MORTGAGE ORIGINATION | IL | $950,275 | $16,445,318 | GLCU HOLDINGS LLC |
| GLCU INSURANCE SERVICES LLC | |||||||||
| 2111 WAUKEGAN RD | BANNOCKBURN | IL | 60015 | 933438070 | INSURANCE SERVICES | IL | $31,438 | $471,677 | GLCU HOLDINGS LLC |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GLCU FOUNDATION FOR FINANCIAL EMPOWERMENT | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2111 WAUKEGAN ROAD | AddressLine1Txt |
| City | BANNOCKBURN | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60015 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 470970671 | EIN |
| Primary Activities | CHARITABLE FOUNDATION | PrimaryActivitiesTxt |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 10 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT LAKES CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GLCU FOUNDATION FOR FINANCIAL EMPOWERMENT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $36,068 | InvolvedAmt |
| Method Of Amount Determination | ACTUAL | MethodOfAmountDeterminationTxt |
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