2019-11-08T13:02:23-06:00 2018-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2018-01-01 381480245 BLUEOX CREDIT UNION BLUE 8006488035 115 RIVERSIDE DR BATTLE CREEK MI 49015 DOUGLAS J ORTH PRESIDENT/CEO 2699657281 2019-11-07 1 DOUGLAS J ORTH P01076394 3052328272 104.11.88.150 2019-11-07 22:53:51 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2020-03-31 21:24:44Z FRAN GODFREY 115 RIVERSIDE DR BATTLE CREEK MI 49015 15710784 0 1359 X WWW.UNITEDECU.COM X 1936 MI BLUEOX CREDIT UNION'S MISSION IS TO PROVIDE QUALITY FINANCIAL SERVICES THAT WILL IMPROVE AND MAKE A DIFFERENCE IN THE LIVES OF OUR MEMBERS. 11 11 90 13 32465 9273 0 0 5532818 8855390 974376 1061460 0 592981 6507194 10509831 0 0 0 0 2688190 4270780 0 0 0 3334960 5614762 6023150 9885542 484044 624289 141418411 173046159 127685946 156568061 13732465 16478098 X BLUEOX CREDIT UNION WAS FOUNDED UPON THE SEVEN COOPERATIVE PRINCIPLES BASED IN THE PHILOSOPHY OF COOPERATION AND THE CENTRAL VALUES OF EQUALITY, EQUITY AND MUTUAL SELF-HELP. BLUEOX CREDIT UNION'S MISSION STATEMENT ILLUSTRATES THE BROTHERHOOD OF MAN THROUGH PEOPLE WORKING TOGETHER TO ACHIEVE A BETTER LIFE FOR THEMSELVES AND THEIR COMMUNITY. 0 0 INCOME FROM CREDIT UNION'S MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 1 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 3981 0 1 90 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X FRAN GODFREY 2699657281 115 RIVERSIDE DR BATTLE CREEK MI 49015 D HICKS DIRECTOR 1.00 X 0 0 0 D DITTMER DIRECTOR/TREASURER 1.00 X 0 0 0 J KIRKPATRICK DIRECTOR/SECRETARY 1.00 X 0 0 0 R HARVEY DIRECTOR 1.00 X 0 0 0 A MUMFORD DIRECTOR/VICE CHAIRMAN 1.00 X 0 0 0 D VOSHELL DIRECTOR 1.00 X 0 0 0 J STANTON DIRECTOR/CHAIRMAN 1.00 X 0 0 0 J RATTI DIRECTOR/SECRETARY 1.00 X 0 0 0 M WALLACE DIRECTOR 1.00 X 0 0 0 M DUTCHER DIRECTOR 1.00 X 0 0 0 J MASS DIRECTOR 1.00 X 0 0 0 T JOHNSON ASSOC. DIRECTOR 1.00 X 0 0 0 F GODFREY PRESIDENT/CEO 60.00 X 174426 0 72417 J JOHNSON VICE PRESIDENT 60.00 X 142900 0 22521 S COBB VICE PRESIDENT/CFO 60.00 X 122120 0 37750 439446 0 132688 3 0 1 0 CUANSWERS 6000 28TH STREET SUITE 100 GRAND RAPIDS MI 49546 CORE PROCESSOR 622479 CU COOPERATIVE SYSTEMS 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 ATM/DEBIT SERVICES 267304 AMERICAN INTERIORS 6828 2 1/2 MILE RD EAST LEROY MI 49051 REMODEL/CONSTRUCTION 193310 FIS 601 RIVERSIDE AVE JACKSONVILLE FL 32202 DEBIT/CREDIT PROCESSOR 174355 SCHWEITZER INC 9807 BELLEVUE RD BATTLE CREEK MI 49014 CONSTRUCTION-REMODEL 167753 5 INCOME ON LOANS 522100 5797996 5797996 FEES/CHARGES/OTHER INCOME 522100 3024929 3024929 MECHANICAL REPAIR WARRANTY FEES 524298 19800 19800 NON MEMBER ATM INCOME 900099 11242 11242 SHARED BRANCHING 525990 1423 1423 8855390 1079015 1079015 5183398 5200953 -17555 -17555 -17555 BARGAIN PURCHASE GAIN 522100 592981 592981 592981 10509831 9398351 32465 1079015 X 572134 2430748 232507 776103 259288 145970 38408 173379 330643 504266 415774 179851 57480 143100 571051 20932 246457 44208 PROVISION FOR LOAN LOSS 1149326 ATM/BANK SERVICE CHARGE 757688 LOAN SERVICING 427593 REPAIRS MAINTENANCE 196731 211905 9885542 2524933 2575975 17045706 13811750 63529 75078 71316462 106843234 102284 119090 8147244 4394090 2886935 3753154 28227325 23313910 14386640 16049007 253306 464692 4611291 6040269 141418411 173046159 1065257 1525043 126620689 155043018 127685946 156568061 X 0 0 0 0 13732465 16478098 13732465 16478098 141418411 173046159 X 624289 -173860 2295204 X X 0 1 X 1 0 511439 511439 4165050 1491098 2673952 3207448 2680154 527294 263307 222838 40469 3753154 FHLB STOCK 333200 C LONG TERM CDS 14606057 C CENTRAL CORPORATE CU PPC 717900 C INVESTMENT IN CUSOS 391850 C 16049007 SHARE DRAFTS 23736555 SHARES 62023616 MONEY MARKET 40432965 IRA SHARES 2596337 CERTIFICATES 26253545 155043018 X 10509831 0 10509831 0 10509831 9885542 0 9885542 0 9885542 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. X 1 1 X X X 0 1 0 F GODFREY PRESIDENT/CEO 153656 0 9000 0 11770 0 36438 0 35979 0 246843 0 0 0 J JOHNSON VICE PRESIDENT 61003 0 63324 0 18573 0 0 0 22521 0 165421 0 0 0 S COBB VICE PRESIDENT/CFO 113937 0 8000 0 183 0 0 0 37750 0 159870 0 0 0 PART I, LINE 4B THE CEO, FRAN GODFREY, PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN. DURING 2018, THE CREDIT UNION ACCRUED $36,438 TOWARD THE BENEFIT WHICH IS SCHEDULED TO BE PAID OUT DURING 2021. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 UPON RECEIPT OF THE COMPLETED FORM 990, MANAGEMENT REVIEWS THE DOCUMENT FOR ACCURACY AND REASONABLENESS. ONCE THIS REVIEW IS COMPLETED, THE GOVERNING BODY IS INFOMED THAT THE FORM HAS BEEN FILED WITH THE IRS AND A COPY IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C A LIST OF RELATED PARTIES IS COMPILED. EMPLOYEES WHO ARE AUTHORIZED TO TRANSACT WHERE A CONFLICT MIGHT OCCUR ARE RESTRICTED. FORM 990, PART VI, SECTION B, LINE 15 THE PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE NCUA'S WEBSITE VIA THE 5300 CALL REPORT FILING. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL/OUTSIDE FEES 173,379. FORM 990, PART IX, LINE 24E OTHER EXPENSES 154,166. ATM/DEBIT FRAUD 57,739. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED THROUGH BUSINESS COMBINATION 2,295,204. FORM 990, PART XII, LINE 2C WITH THE CHANGE IN THE MICHIGAN CREDIT UNION ACT, WE WERE ABLE TO ELIMINATE THE EXTERNAL SUPERVISORY COMMITTEE. THE SUPERVISORY COMMITTEE IS NOW COMPRISED OF MEMBERS OF BLUEOX CREDIT UNION'S BOARD OF DIRECTORS.