2019-11-12T12:04:53-06:00 2018-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2018-01-01 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 2019-11-12 1 ROBERT PARKS CPA P00740435 2482443000 64.95.240.2 2019-11-12 10:59:57 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2020-04-17 16:48:07Z TIFFANY FORD 340 E HURON ANN ARBOR MI 48104 45510697 0 X WWW.UMCU.ORG X 1954 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 9 9 219 11 107985 30877 0 0 34356746 41617779 2364947 2143794 1356950 1749124 38078643 45510697 0 0 0 0 11908575 13374919 0 0 0 18801610 22016892 30710185 35391811 7368458 10118886 793668991 907339037 719920956 823444937 73748035 83894100 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 94,632 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, CLUB, AND BUSINESS ACCOUNTS. PROVIDE 60,421 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 9618 0 1 219 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 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 628367 0 62393 TOMAS KUSLIKIS SR VP OF ACCOUNTING AND FINAN 40.00 X 163207 0 36471 PATRICIA KEENE VP OF LENDING 40.00 X 191393 0 32894 DEANNE RAMOS VP OF BRANCH OPERATIONS 40.00 X 142832 0 34089 JULIE WIGLEY VP OF BRAND & TALENT DEVEL 40.00 X 193104 0 18327 TINA HAMILTON AVP OF EBRANCH 40.00 X 151318 0 34970 XIANG WU VP OF INFORMATION TECHNOLOGY 40.00 X 135443 0 33592 1605664 0 252736 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 30612441 30612441 FEE AND OTHER INCOME 522100 11005338 11005338 41617779 2143794 2143794 797235 0 797235 797235 797235 NON-OPERATING INCOME 522100 843904 843904 NON-MEMBER ATM FEE INCOME 900099 107985 107985 951889 45510697 43258918 107985 2143794 X 1114725 9352912 2147607 759675 37065 62646 470439 1683655 869737 285137 1333570 59869 123287 1909150 1987450 160485 PROVISION FOR LOAN LOSS 4892925 VISA EXPENSE 3379957 LOAN SERVICING 1427024 MAINTENANCE 1400475 1934021 35391811 5390543 5162332 26937340 57686744 4460563 3144979 573870467 698244548 1032113 1144491 48186058 14642709 32985903 33543349 133526639 87822019 4864613 5798794 181565 128691 10419245 14663090 793668991 907339037 8486823 10837857 50406824 711434133 762200256 719920956 823444937 X 0 0 0 0 73748035 83894100 73748035 83894100 793668991 907339037 X 10118886 40375 -13196 X X 0 1 X 1 0 14384490 14384490 17533179 2701512 14831667 2330439 1611730 718709 10870105 8609028 2261077 3067845 1720439 1347406 33543349 MEMBER SHARES 762200256 762200256 X 45510697 0 45510697 0 45510697 35391811 0 35391811 0 35391811 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 472184 0 148000 0 8183 0 40467 0 21926 0 690760 0 0 0 TOMAS KUSLIKIS SR VP OF ACCOUNTING AND FINAN 142952 0 20000 0 255 0 15329 0 21142 0 199678 0 0 0 PATRICIA KEENE VP OF LENDING 169894 0 20000 0 1499 0 16590 0 16304 0 224287 0 0 0 DEANNE RAMOS VP OF BRANCH OPERATIONS 122462 0 20000 0 370 0 13264 0 20825 0 176921 0 0 0 JULIE WIGLEY VP OF BRAND & TALENT DEVEL 170104 0 20000 0 3000 0 16452 0 1875 0 211431 0 0 0 TINA HAMILTON AVP OF EBRANCH 131077 0 20000 0 241 0 14040 0 20930 0 186288 0 0 0 XIANG WU VP OF INFORMATION TECHNOLOGY 120075 0 15000 0 368 0 12778 0 20814 0 169035 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 24E TRANSACTIONS 794,202. EMPLOYEE APPRECIATION/RECRUITING 343,560. STAFF EDUCATION 310,451. SERVICE CHARGES 224,556. EXAMINATION FEES 170,660. MISCELLANEOUS 90,592. FORM 990, PART XI, LINE 9: OCI ADJUSTMENT-POSTRETIREMENT HEALTHCARE PLAN -13,196. 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.