TRUE COMMUNITY CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- TRUE COMMUNITY CREDIT UNION (EIN 38-1453620)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-14
- IRS object ID
- 202503189349304665
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-14T10:01:42-06:00 | 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 | 381453620 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUE COMMUNITY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TRUE | BusinessNameControlTxt |
| Phone | 5177847101 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 CLINTON RD | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49202 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LANCE SCHNITKEY | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 5177847101 | PhoneNum |
| Signature | 2025-11-13 | 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 | 2025-11-09 | 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 | CHRISTINA SIDERS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 CLINTON RD | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $81,507,676 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.TRUECCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2020 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | TO CULTIVATE LEGACY-DEFINING MOMENTS FOR THE PEOPLE AND PLACES WE SERVE FOR GENERATIONS TO COME. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 284 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $243,564 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $5,000 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $40,615,233 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $64,116,283 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,311,013 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,450,171 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $3,539 | CYOtherRevenueAmt |
| PY Total Revenue | $42,926,246 | PYTotalRevenueAmt |
| CY Total Revenue | $67,574,993 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $332,034 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $429,402 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $17,668,356 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $23,933,803 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $20,572,458 | PYOtherExpensesAmt |
| CY Other Expenses | $40,031,970 | CYOtherExpensesAmt |
| PY Total Expenses | $38,572,848 | PYTotalExpensesAmt |
| CY Total Expenses | $64,395,175 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,353,398 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,179,818 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $703,073,726 | TotalAssetsBOYAmt |
| Total Assets EOY | $880,536,100 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $634,391,716 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $790,015,237 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $68,682,010 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $90,520,863 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO CULTIVATE LEGACY-DEFINING MOMENTS FOR THE PEOPLE AND PLACES WE SERVE FOR GENERATIONS TO COME. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TRUE COMMUNITY CREDIT UNION PROVIDES A SPECTRUM OF DEPOSIT AND LOAN PRODUCTS FOR OUR MEMBERS AND PROVIDES FINANCIAL EDUCATION FOR THE COMMUNITY TO CULTIVATE THE LEGACY-DEFINING MOMENTS FOR THOSE WE SERVE. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 18060 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 284 | 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 | 0 | 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 | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | 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 | LANCE SCHNITKEY | PersonNm |
| Phone | 5177847101 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 CLINTON ROAD | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49202 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (28 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| JOSHUA BURGETT | ||||||||
| BOARD CHAIRPERSON | 1.00 | Yes (X) | $2,021 | $0 | $0 | |||
| CHELSEA PAGE | ||||||||
| BOARD VICECHAIRPERSON | 1.00 | Yes (X) | $1,382 | $0 | $0 | |||
| TIMOTHY DENTON | ||||||||
| BOARD TREASURER | 1.00 | Yes (X) | $2,430 | $0 | $0 | |||
| REGINA PINNEY | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KAREN RICHARD | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| TOM BUTMAN | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JACOB INOCENCIO | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $865 | $0 | $0 | |||
| BRITGITTEE FAWAZ-ANOUTI | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DORIS GRAHAM | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $3,692 | $0 | $0 | |||
| MICHAEL RAWSON | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $1,174 | $0 | $0 | |||
| WILLIAM SACKETT | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $2,631 | $0 | $0 | |||
| RICHARD POKERWINSKI | ||||||||
| BOARD DIRECTOR/EMERITUS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STU KAIL | ||||||||
| BOARD DIRECTOR/ASSOCIATE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CHELSEA EISELE | ||||||||
| BOARD DIRECTOR/ASSOCIATE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| YVETTE WILKIE | ||||||||
| BOARD DIRECTOR/ASSOCIATE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CHRISTINA SIDERS | ||||||||
| PRESIDENT/CEO | 40.00 | $541,110 | $0 | $31,500 | Yes (X) | |||
| LANCE SCHNITKEY | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | $246,915 | $0 | $19,158 | Yes (X) | |||
| JANET THOMPSON | ||||||||
| EVP/CHIEF INTEGRATION OFFICER | 40.00 | $311,615 | $0 | $36,633 | Yes (X) | |||
| JASON MATLEY | ||||||||
| EVP/CHIEF STRATEGY OFFICER | 40.00 | $286,227 | $0 | $20,687 | Yes (X) | |||
| VALERIE MOSKAL | ||||||||
| CHIEF GROWTH & LENDING OFFICER | 40.00 | $279,553 | $0 | $37,463 | Yes (X) | |||
| SARAH ERMATINGER | ||||||||
| CHIEF COMMUNITY IMPACT OFFICER | 40.00 | $222,601 | $0 | $23,262 | Yes (X) | |||
| HEATHER HARBACK | ||||||||
| CHIEF PEOPLE OFFICER | 40.00 | $203,107 | $0 | $31,597 | Yes (X) | |||
| BRANDI COLE | ||||||||
| CHIEF RISK OFFICER | 40.00 | $185,691 | $0 | $32,054 | Yes (X) | |||
| TERRY FRENCH | ||||||||
| INVESTMENT ADVISOR | 40.00 | $258,297 | $0 | $14,608 | Yes (X) | |||
| JONATHAN BEARD | ||||||||
| VP OF DIGITAL TRANSFORMATI | 40.00 | $205,555 | $0 | $28,207 | Yes (X) | |||
| CANIS ARBROUET | ||||||||
| VP OF FACILITIES | 40.00 | $196,591 | $0 | $29,963 | Yes (X) | |||
| SHAWN CHRISTIE | ||||||||
| VP OF WEALTH MANAGEMENT | 40.00 | $176,097 | $0 | $36,649 | Yes (X) | |||
| JEANINE MWHITE | ||||||||
| SPECIAL PROJECT CONSULTANT | 40.00 | $172,049 | $0 | -$36,193 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,299,603 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $305,588 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 36 | 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 |
|---|---|---|---|---|---|
| ALKAMI | |||||
| PO BOX 122223 | DALLAS | TX | 75312 | PLATFORM-CONSUMER | $1,359,748 |
| JACK HENRY AND ASSOCIATES | |||||
| PO BOX 609 | MONETT | MO | 65708 | SOFTWARE SERVICE | $915,833 |
| NUSOURCE FINANCIAL | |||||
| 9749 HAMILTON ROAD | EDEN PRAIRIE | MN | 55344 | ITMS/ATMS | $641,235 |
| HARMON MANAGEMENT LLC | |||||
| 417 COPPERSMITH DRIVE | MASON | MI | 48854 | NEW PARNALL BRANCH CONSTRUCTION | $435,949 |
| TRACE3 LLC | |||||
| PO BOX 847467 | LOS ANGELES | CA | 90084 | CAMERAS/SECURITY EQUIPMENT & SERVICE | $279,230 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $5,000 | AllOtherContributionsAmt |
| Total Contributions | $5,000 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INCOME | 522100 | $42,904,420 | $42,904,420 | |
| FEES, CHARGES & OTHER | 522100 | $20,968,299 | $20,968,299 | |
| FINANCE AND INSURANCE | 520000 | $243,564 | $243,564 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $64,116,283 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,476,150 | TotalRevenueColumnAmt |
| Exclusion | $5,476,150 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $4,800 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,261 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $3,539 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,539 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,539 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $11,755,648 | SecuritiesAmt |
| Other | $149,795 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $13,781,781 | SecuritiesAmt |
| Other | $149,641 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$2,026,133 | SecuritiesAmt |
| Other | $154 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$2,025,979 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$2,025,979 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $67,574,993 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $61,850,279 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $243,564 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,476,150 | 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 | $419,402 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,523,368 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,188,119 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,636,971 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,234,129 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,351,216 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $238,015 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $490,970 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,007,699 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,569,132 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,337,358 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,393,512 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $159,947 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $509,116 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,510,340 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,498 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,308,068 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $365,800 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PLL | $9,343,543 |
| ATM EXPENSE | $3,879,726 |
| LOAN SERVICING | $2,644,865 |
| MISCELLANEOUS | $1,157,902 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,080,479 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $64,395,175 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,823,260 | BOYAmt |
| EOY | $12,148,495 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,733,733 | BOYAmt |
| EOY | $49,389,311 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,768,078 | BOYAmt |
| EOY | $11,435,980 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,229,034 | BOYAmt |
| EOY | $5,266,694 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $571,124,251 | BOYAmt |
| EOY | $680,874,042 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,721,095 | BOYAmt |
| EOY | $18,058,015 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $34,124,842 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $19,869,372 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,088,799 | BOYAmt |
| EOY | $14,255,470 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,847,289 | BOYAmt |
| EOY | $68,245,530 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,491,551 | BOYAmt |
| EOY | $3,261,106 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $178,300 | BOYAmt |
| EOY | $4,654,557 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,068,336 | BOYAmt |
| EOY | $12,946,900 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $703,073,726 | BOYAmt |
| EOY | $880,536,100 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,539,523 | BOYAmt |
| EOY | $10,242,342 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,000,000 | BOYAmt |
| EOY | $20,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $608,852,193 | BOYAmt |
| EOY | $759,772,895 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $634,391,716 | BOYAmt |
| EOY | $790,015,237 | 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 | $68,682,010 | BOYAmt |
| EOY | $90,520,863 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,682,010 | BOYAmt |
| EOY | $90,520,863 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $703,073,726 | BOYAmt |
| EOY | $880,536,100 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,179,818 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,347,625 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $17,311,410 | 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 D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | 0 | InclEscrowCustodialAcctLiabInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,393,349 | OtherCostOrOtherBasisAmt |
| Book Value | $2,393,349 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,697,447 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,295,596 | DepreciationAmt |
| Book Value | $8,401,851 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $292,807 | OtherCostOrOtherBasisAmt |
| Depreciation | $249,164 | DepreciationAmt |
| Book Value | $43,643 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,741,239 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,324,612 | DepreciationAmt |
| Book Value | $3,416,627 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $14,255,470 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| CERTIFICATES OF DEPOSIT | $110,204,861 |
| CLUB ACCOUNTS | $1,242,290 |
| IRA ACCOUNTS | $17,388,951 |
| MONEY MARKET ACCOUNTS | $104,125,439 |
| REGULAR SHARES | $326,686,929 |
| SHARE DRAFTS | $200,124,425 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $759,772,895 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $67,576,254 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $1,261 | OtherRevenueAmt |
| Revenue Not Reported | $1,261 | RevenueNotReportedAmt |
| Revenue Subtotal | $67,574,993 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $67,574,993 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $64,396,436 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $64,396,436 | ExpensesSubtotalAmt |
| Other Expenses Not Included | -$1,261 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | -$1,261 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $64,395,175 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | INCOME TAXES THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS 1,261. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS -1,261. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (17 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| AMERICAN HEART ASSOCIATION | ||||||||
| PO BOX 4002902 DES MOINES IA 50340 | DES MOINES | IA | 50340 | 135613797 | 501 (C)(3) | $10,000 | $0 | SPONSOR OF ANN ARBOR-JACKSON HEART BALL SUPPORTING THE AMERICAN HEART ASSOCIATION |
| FOUND CHURCH | ||||||||
| 141 E MICHIGAN AVE | JACKSON | MI | 49201 | 851433853 | 501(C)(3) | $35,000 | $0 | BLACK EXCELLENCE AWARDS SPONSOR $15,000; ISAIAH'S HUB RENOVATION PROJECT $20,000 |
| GROW JACKSON | ||||||||
| 740 W MICHIGAN AVE | JACKSON | MI | 49201 | 853704505 | 501 (C)(3) | $10,600 | $0 | $10,000 FOR STUDENT SUMMER PROGRAM; $600 TABLE FOR ANNUAL DINNER |
| HENRY FORD JACKSON | ||||||||
| 100 E MICHIGAN AVE | JACKSON | MI | 49201 | 382027689 | 501 (C)(3) | $18,500 | $0 | $10,000 TO PINK BALL SPONSORSHIP, $1,000 LIGHTS OF LOVE $7,500 FOR HOSPICE DONATION |
| JACKSON COLLEGE MULTICULTURAL AFFAIRS | ||||||||
| 2111 EMMONS RD | JACKSON | MI | 49201 | 381795703 | 501 (C)(3) | $20,000 | $0 | JUNETEENTH EVENT SPONSOR AND STUDENT SCHOLARSHIPS |
| JACKSON COUNTY CHAMBER | ||||||||
| 134 W MICHIGAN AVE | JACKSON | MI | 49201 | 560954664 | 501 (C)(6) | $14,550 | $0 | CHAMBER SPONSORSHIPS; MLK BREAKFAST, NIGHT OF DISTINCTION, NATIONAL CIVICS BEE, ANNUAL GOLF OUTING |
| JACKSON SCHOOL OF THE ARTS | ||||||||
| 135 W CORTLAND AVE | JACKSON | MI | 49201 | 383581314 | 501 (C)(3) | $33,333 | $0 | YEAR 4 OF 4 OF MULTI-YEAR PLEDGE FOR CAPTITAL CAMPAIGN/BUILDING |
| JACKSON SYMPHONY ORCHESTRA | ||||||||
| 215 W MICHIGAN AVE | JACKSON | MI | 49201 | 382146767 | 501 (C)(3) | $8,000 | $0 | SPONSOR CONCERT AGLOW |
| JACKSON YMCA | ||||||||
| 127 W WESLEY ST JACKSON MI 49201 | JACKSON | MI | 49201 | 381381139 | 501 (C)(3) | $26,000 | $0 | CHARITABLE CONTRIBUTION |
| MICHIGAN CREDIT UNION LEAGUE & AFFILIATES | ||||||||
| 110 W MICHIGAN AVE 100 | LANSING | MI | 48933 | 380826778 | 501 (C)(6) | $15,000 | $0 | MCUL 2024 FOUNDATION CONTRIBUTION/ASFM SUPPORT |
| MICHIGAN TRIBE | ||||||||
| 133 W MICHIGAN AVE JACKSON MI 49201 | JACKSON | MI | 49201 | 844587940 | 501 (C)(3) | $7,500 | $0 | $7,500 MICHIGAN TRIBE MICRO-GRANT SPONSORSHIP SUPPORTING MINORITY OR WOMEN-OWNED SMALL BUSINESSES; |
| NEW MOBILITY SOLUTIONS | ||||||||
| 3601 WILDWOOD AVE | JACKSON | MI | 49202 | 200861492 | AUTO DEALERSHIP | $18,123 | $0 | PURCHASED A HANDICAP ACCESSIBLE VAN FOR THE GARRETT FAMILY |
| NUESTRA COMUNIDAD | ||||||||
| 600 N STATE ST | JACKSON | MI | 49202 | 923256932 | 501 (C)(3) | $20,000 | $0 | PRESENTING SPONSOR FOR NUESTRA COMUNIDAD HISPANIC HERITAGE FESTIVAL. |
| RISE ABOVE | ||||||||
| 936 FLEMING AVE | JACKSON | MI | 49202 | 208029145 | 501 (C)(3) | $10,000 | $0 | PLEDGE TO SUPPORT A NON-PROFIT ORGANIZATION PARTNERING WITH JACKSON COUNTY SCHOOL DISTRICTS ON RELATIONSHIP RESTORATION AND EDUCATIONAL SERVICES FOR STUDENTS WHO HAVE BEEN REMOVED FROM TRADITIONAL ACADEMIC SETTINGS. |
| SPRING ARBOR UNIVERSITY | ||||||||
| 106 E MAIN ST | SPRING ARBOR | MI | 49283 | 381359569 | 501 (C)(3) | $20,000 | $0 | $5,000 SAU GOLF OPEN SPONSOR, $15,000 YEAR 5 OF 5 FOR MULTI-YEAR SPONSOR FOR TRADING CENTER |
| THE ENTERPRISE GROUP | ||||||||
| 100 E MICHIGAN AVE | JACKSON | MI | 49201 | 382493672 | 501 (C)(3) | $15,000 | $0 | CHARITABLE CONTRIBUTION |
| UNITED WAY OF SOUTH CENTRAL MICHIGAN | ||||||||
| 709 S WESTNEDGE AVE | KALAMAZOO | MI | 49007 | 381359193 | 501 (C)(3) | $6,000 | $0 | ANNUAL DONATION |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 14 | Total501c3OrgCnt |
| Total Other Org | 3 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 10 | RecipientCnt |
| Cash Grant | $10,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, SCHEDULE I, PART I, LINE 2 (REGARDING PART II) | TRUE COMMUNITY CREDIT UNION'S GIVING STRATEGY WILL SUPPORT: CHARITABLE GIVING IS PROVIDED IN THE FORM OF MONETARY DONATIONS, VOLUNTEERISM, IN-KIND DONATIONS AND SERVICES TO NON-PROFITS, CHARITIES OR PROGRAMS THAT MEET THE NEEDS OF OUR COMMUNITY. COMMUNITY ENGAGEMENT CAN INCLUDE MONETARY AND/OR IN-KIND SUPPORT AND SPONSORSHIPS OF NONCHARITABLE ENTITIES SUCH EXPOS, COMMUNITY EVENTS, CONCERTS, FESTIVALS OR COMMUNITY/CIVIC PROJECTS. IN-KIND/RESOURCES GIVING THROUGH FINANCIAL EDUCATION, TANGIBLE GOODS EITHER DONATED OR PURCHASED AND VOLUNTEER TIME. THE COMMUNITY IMPACT PILLAR RECEIVES THE REQUEST(S). THE CHIEF COMMUNITY IMPACT OFFICER AND DIRECTOR OF COMMUNITY PARTNERSHIPS REVIEW THE REQUEST TO DETERMINE IF MORE INFORMATION IS NEEDED, A FOLLOW-UP MEETING IS REQUIRED OR IF THE REQUEST CAN BE DECISIONED ALIGNING WITH THE DECISION MODEL. DONATION REQUESTS MAY ALSO BE BROUGHT FORWARD TO THE PRESIDENT/CEO FOR ADDITIONAL REVIEW, DISCUSSION OR AS AN UPDATE ON THE DECISION TO ENSURE GIVING PRACTICES ALIGN WITH THE MISSION, VISION AND VALUES OF TRUE COMMUNITY CREDIT UNION. ENTITIES THAT RECEIVE SUPPORT ARE REPORTED TO THE BOARD OF DIRECTORS IN EVERY BOARD PACKET. EACH JANUARY, THE CHARITIES THAT WERE SUPPORTED THROUGHOUT THE PREVIOUS YEAR ARE LISTED ON THE WEBSITE. |
| FORM 990, SCHEDULE I, PART I, LINE 2 (REGARDING PART III) | IN 2024 WE RECEIVED A RECORD 41 SCHOLARSHIP ESSAYS FROM ALL AROUND MICHIGAN TO COMPETE FOR (10) $1,000 SCHOLARSHIPS FOR COLLEGE OR TRADE SCHOOL. WHO IS ELIGIBLE: STUDENTS AND NON-TRADITIONAL STUDENTS ARE ELIGIBLE TO APPLY. A STUDENT IS DEFINED AS A GRADUATING HIGH SCHOOL SENIOR IN THE 2024 GRADUATING CLASS. NON-TRADITIONAL STUDENTS ARE DEFINED AS ANY STUDENTS OVER THE AGE OF 25 THAT HAVE A HIGH SCHOOL DIPLOMA OR THEIR GED AND ARE NOW SEEKING A DEGREE OR RETURNING TO COMPLETE THEIR DEGREE. ALL APPLICANTS MUST PLAN TO ENTER COLLEGE IN THE NEXT ACADEMIC YEAR (2024-2025). EVIDENCE OF ENROLLMENT IN AN ACCREDITED COLLEGE, TECHNICAL SCHOOL OR UNIVERSITY MUST BE SUBMITTED BEFORE AWARD PAYMENT WILL BE MADE TO THE AWARD RECIPIENT. HOW WINNERS ARE SELECTED: ALL ENTRIES WILL BE REVIEWED ANONYMOUSLY BY A DIVERSE PANEL (THAT'S YOU!). DURING THE JUDGING PROCESS, ALL ENTRIES WILL BEAR NO IDENTIFYING MARKS OR SYMBOLS WHICH SHOW EITHER THE CONTESTANT'S NAME OR THE SCHOOL THEY ATTEND. THE PRINCIPAL DETERMINING FACTOR IN SELECTING SCHOLARSHIP RECIPIENTS IS THE APPLICANT'S RESPONSE TO THE TOPIC. THE FOLLOWING CRITERIA IN JUDGING THE ESSAY RESPONSE WILL BE ORGANIZATION, LANGUAGE USE, ORIGINALITY, CLARITY, SPELLING, PUNCTUATION, SENTENCE STRUCTURE, COMPREHENSION, AND EXPRESSION OF THE TOPIC. SCHOLARSHIP RECIPIENTS: EACH WINNER WILL RECEIVE $1,000. TYPICALLY WE CHOOSE 5 RECIPIENTS, HOWEVER WITH THE AMAZING RESPONSE WE HAD THIS YEAR WE ARE GOING TO AWARD 10 WINNERS @ $1,000. ESSAY GUIDELINES: ALL 41 ESSAYS HAVE BEEN REVIEWED TO ENSURE THEY MET THE GUIDELINES AND THE DEADLINE. ESSAY SHOULD NOT BE MORE THAN 1500 WORDS AND NOT LESS THAN 750 WORDS. (TYPICALLY 2 PAGES). SHOULD ADDRESS THE TOPIC LISTED BELOW. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| 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 |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CHRISTINA SIDERS | ||||||||||||||
| PRESIDENT/CEO | $479,460 | $0 | $49,380 | $0 | $12,270 | $0 | $12,102 | $0 | $19,398 | $0 | $572,610 | $0 | $0 | $0 |
| JANET THOMPSON | ||||||||||||||
| EVP/CHIEF INTEGRATION OFFICER | $310,361 | $0 | $35 | $0 | $1,219 | $0 | $29,706 | $0 | $6,927 | $0 | $348,248 | $0 | $0 | $0 |
| VALERIE MOSKAL | ||||||||||||||
| CHIEF GROWTH & LENDING OFFICER | $243,355 | $0 | $29,904 | $0 | $6,294 | $0 | $19,796 | $0 | $17,667 | $0 | $317,016 | $0 | $0 | $0 |
| JASON MATLEY | ||||||||||||||
| EVP/CHIEF STRATEGY OFFICER | $243,798 | $0 | $30,341 | $0 | $12,088 | $0 | $13,946 | $0 | $6,741 | $0 | $306,914 | $0 | $0 | $0 |
| TERRY FRENCH | ||||||||||||||
| INVESTMENT ADVISOR | $240,935 | $0 | $13,038 | $0 | $4,324 | $0 | $14,221 | $0 | $387 | $0 | $272,905 | $0 | $0 | $0 |
| LANCE SCHNITKEY | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $206,722 | $0 | $23,115 | $0 | $17,078 | $0 | $17,880 | $0 | $1,278 | $0 | $266,073 | $0 | $0 | $0 |
| SARAH ERMATINGER | ||||||||||||||
| CHIEF COMMUNITY IMPACT OFFICER | $190,241 | $0 | $24,883 | $0 | $7,477 | $0 | $21,998 | $0 | $1,264 | $0 | $245,863 | $0 | $0 | $0 |
| HEATHER HARBACK | ||||||||||||||
| CHIEF PEOPLE OFFICER | $173,677 | $0 | $20,503 | $0 | $8,927 | $0 | $12,760 | $0 | $18,837 | $0 | $234,704 | $0 | $0 | $0 |
| JONATHAN BEARD | ||||||||||||||
| VP OF DIGITAL TRANSFORMATI | $187,405 | $0 | $17,880 | $0 | $270 | $0 | $11,039 | $0 | $17,168 | $0 | $233,762 | $0 | $0 | $0 |
| CANIS ARBROUET | ||||||||||||||
| VP OF FACILITIES | $175,658 | $0 | $20,469 | $0 | $464 | $0 | $10,326 | $0 | $19,637 | $0 | $226,554 | $0 | $0 | $0 |
| BRANDI COLE | ||||||||||||||
| CHIEF RISK OFFICER | $156,455 | $0 | $17,460 | $0 | $11,776 | $0 | $14,450 | $0 | $17,604 | $0 | $217,745 | $0 | $0 | $0 |
| SHAWN CHRISTIE | ||||||||||||||
| VP OF WEALTH MANAGEMENT | $155,916 | $0 | $18,228 | $0 | $1,953 | $0 | $19,043 | $0 | $17,606 | $0 | $212,746 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | JEANINE M WHITE: $40,401 THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, CHRISTINA SIDERS, THROUGH AN ARRANGEMENT REFERRED TO AS "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 PREMIUM PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. | ExplanationTxt |
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 |
|---|---|---|---|---|---|---|---|
| CHRISTINA SIDERS | |||||||
| CEO | COLLATERAL ASSIGNED SPLIT DOLLAR | Yes (X) | $3,200,000 | $3,217,778 | 0 | Yes (1) | Yes (1) |
| JANET THOMPSON | |||||||
| FORMER EVP/CHIEF INTEGRATION OFFICER | COLLATERAL ASSIGNED SPLIT DOLLAR | Yes (X) | $2,000,000 | $2,048,916 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $5,266,694 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCH L, PART II | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, CHRISTINA SIDERS, THROUGH AN ARRANGEMENT REFERRED TO AS "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 PARTICIPANT. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUM PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | CREDIT UNION MEMBERS ELECT THE BOARD MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE 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 | REVIEW WILL BE PERFORMED BY CEO AND VP OF FINANCE. |
| FORM 990, PART VI, SECTION B, LINE 12C | POLICIES ARE REVIEWED ANNUALLY AND ALL VOLUNTEERS COMPLETE CONFLICT OF INTEREST FORMS AFTER THE ANNUAL MEETING EACH YEAR. |
| FORM 990, PART VI, SECTION B, LINE 15 | PRESIDENT/CEO - THE BOARD OF DIRECTOR'S PERFORMS AN ANNUAL PERFORMANCE EVALUATION OF THE PRESIDENT/CEO. BASED ON THE GOALS ACHIEVED AND RESULTS OF THE REVIEW, A MERIT ADJUSTMENT IS CALCULATED. THE RESULTS OF THE REVIEW AND THE PROPOSED MERIT ADJUSTMENT IS REVIEWED BY THE BOARD OF DIRECTORS. AT THE SAME TIME, THE BOARD ALSO OBTAINS A SALARY STUDY FROM A SALARY CONSULTANT (BALANCED COMP) FOR PRESIDENTS AND CHIEF FINANCIAL OFFICERS IN SIMILAR SIZED INSTITUTIONS. A VARIETY OF SURVEY DATA IS USED BY THE CONSULTANT TO PREPARE THE RECOMMENDED PAY RANGE AND PLACEMENT OF THE PAY FOR THE PRESIDENT/CEO. IN ADDITION, THE COMMITTEE REVIEWS 990 DATA, AND OTHER INDUSTRY RESOURCES FOR INFORMATION TO DETERMINE IF ANY ADDITIONAL ADJUSTMENT IS REQUIRED TO ENSURE THE PRESIDENT/CEO IS BEING PAID APPROPRIATELY. ONCE A FINAL MERIT ADJUSTMENT IS AGREED UPON, THE BOARD OF DIRECTORS TAKES A FORMAL VOTE. THIS ADJUSTMENT INFORMATION IS PRESENTED TO THE PRESIDENT/CEO AND PROVIDED TO HUMAN RESOURCES TO PROCESS THE PROPER ADJUSTMENT TO THE PRESIDENT/CEO'S COMPENSATION. CFO AND OTHER OFFICERS/KEY EMPLOYEES - PAY GRADES FOR THE POSITION ARE ALSO RECOMMENDED BY BALANCED COMP, A SALARY CONSULTANT. THEY USE VARIOUS PROFESSIONAL SURVEY DATA TO DETERMINE APPROPRIATE MINIMUM, MIDPOINT AND MAXIMUM PAY RATES. MERIT INCREASES ARE CALCULATED BASED ON A MATRIX RECOMMENDED THROUGH BALANCED COMP THAT CONSIDERS LONGEVITY, GOAL ACHIEVEMENT AND POSITION WITHIN THE PAY GRADE. THE OVERALL MERIT BUDGET IS APPROVED BY THE BOARD OF DIRECTOR'S IN THE BUDGET APPROVAL PROCESS. NO MERIT ADJUSTMENT IS GIVEN UNTIL BOARD APPROVAL IS OFFICIAL. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE QUARTERLY CALL REPORT ON NCUA.GOV. |
| FORM 990, PART IX, LINE 11G | OTHER PROFESSIONAL SERVICES 2,007,699. |
| FORM 990, PART IX, LINE 24E | VISA EXPENSE 1,055,253. MAINTENANCE/REPAIRS 1,036,526. FRAUD 928,587. COLLECTION EXPENSE 60,113. |
| FORM 990, PART XI, LINE 9: | NET CHANGE IN UNREALIZED GAINS/(LOSSES) ON POST-RETIREMENT BENEFIT PLAN 2,738,978. EQUITY ACQUIRED IN MERGER 14,572,432. |
| FORM 990, PART XII, LINE 2B | THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR END AND FORM 990 IS REPORTED ON A CALENDAR YEAR END. |
| FORM 990, PART XII, LINE 2C | WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CP FINANCIAL SERVICES | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 CLINTON RD | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381453620 | EIN |
| Primary Activities | PERFORM COMPLIANCE AUDITS AND TRAINING FOR OTHER CREDIT UNIONS | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Total Income | $670 | TotalIncomeAmt |
| End Of Year Assets | $244,623 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUE COMMUNITY CREDIT UNION | BusinessNameLine1Txt |
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