2019-05-15T16:42:27-05:00 2018-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2018-01-01 381475121 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 7346767000 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 VINCENT NEYLAND CFO 7346767000 2019-05-15 1 JOSEPH A ZITO P00648440 2482443000 64.95.240.2 2019-05-15 16:41:51 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2019-02-21 02:37:17Z ADVANTAGE ONE CREDIT UNION CHRISTOPHER D CORKERY 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 9740241 0 X WWW.MYAOCU.COM X 1952 MI THE MISSION OF ADVANTAGE ONE CU IS TO OPERATE IN A SAFE AND SOUND MANNER WHILE MEETING THE FINANCIAL NEEDS OF ITS MEMBERSHIP. 9 9 71 9 177921 -88389 0 0 8128247 8884353 614747 677967 157830 177921 8900824 9740241 0 0 0 0 3450371 3679422 0 0 0 5096411 5591467 8546782 9270889 354042 469352 139551969 143351571 125327041 128832458 14224928 14519113 THE MISSION OF ADVANTAGE ONE CU IS TO OPERATE IN A SAFE AND SOUND MANNER WHILE MEETING THE FINANCIAL NEEDS OF ITS MEMBERSHIP. 0 0 THE LOAN PORTFOLIO GREW 5.8% IN 2018. THE SIGNIFICANT AREA OF GROWTH WITHIN THIS PORTFOLIO WAS THE INDIRECT LENDING (AUTO) CATEGORY - GROWING NEARLY 100% TO $24 MILLION OF GROSS LOANS OUTSTANDING BY YEAR-END. EXPENSES ASSOCIATED WITH THE LOAN PORTFOLIO (NOT INCLUDING ALLOCABLE SALARIES, WAGES AND BENEFITS) APPROXIMATED $913,337. THE DEBIT CARD PORTFOLIO SAW CARD GROWTH OF 3% IN 2018 OVER THE PRIOR PERIOD TO 9,416 CARDS. RELATED EXPENSES FOR 2018 (EXCLUDING SALARIES/WAGES AND BENEFITS) AMOUNTED TO $546,714. THE COURTESY PAY PROGRAM GREW 2.3% IN INCOME IN 2018 OVER THE PRIOR YEAR AND PRINCIPAL LOSSES ALSO GREW 47%, ALTHOUGH BY A SMALLER DOLLAR AMOUNT. EXPENSES ASSOCIATED WITH UNCOLLECTED FEES AMOUNTED TO $56,036. 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 2980 0 1 71 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 VINCENT J NEYLAND 7346753757 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 RICHARD E LINDERMANN CHAIRPERSON 1.00 X 0 0 0 ELMER TROMBELY DIRECTOR 1.00 X 0 0 0 ROBERT J MATTERN TREASURER 1.00 X 0 0 0 ANTHONY PASCARELLA SECRETARY 1.00 X 0 0 0 JERRY UCHTORFF DIRECTOR 1.00 X 0 0 0 RORY RENAUD VICE CHAIRPERSON 1.00 X 0 0 0 MARK RAGSDALE DIRECTOR 1.00 X 0 0 0 CHRISTOPHER CORKERY CEO 55.00 X 200938 0 21164 VINCENT NEYLAND CFO 60.00 X 126840 0 12116 DWIGHT EMANUEL COO 45.00 X 118524 0 9482 NICK SCHMITTER CLO 45.00 X 45731 0 4235 492033 0 46997 3 0 1 0 COOP FINANCIAL SERVICES 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 CARD PROCESSOR 519299 FISERV GALAXY 5600 CROOKS RD STE 101 TROY MI 48098 DATA PROCESSOR 282000 FIS 601 RIVERSIDE AVENUE JACKSONVILLE FL 32204 CARD PROCESSOR 268189 NEXT STEP INTERNATIONAL 6000 METROWEST BLVD STE 107 ORLANDO FL 32835 CONSULTANT 133745 4 INCOME ON LOANS 522100 5862476 5862476 FEES/CHARGES/OTHER 522100 3021877 3021877 8884353 677967 677967 NON-MEMBER ATM INCOME 900099 177921 177921 177921 9740241 8884353 177921 677967 539030 2363101 777291 21307 31867 602169 1618708 518189 214804 360902 13585 PROVISION FOR LOAN LOSS 1011394 LOAN SERVICING 752552 MISCELLANEOUS 204158 TRAINING/DEVELOPMENT/ED 160785 81047 9270889 4230181 4034938 3097000 1488000 479408 451626 95806141 101222952 417722 649162 4564694 0 4513652 4564694 22568507 28384291 6421000 433000 2018358 2122908 139551969 143351571 817314 1379599 124509727 127452859 125327041 128832458 X 0 0 0 0 14224928 14519113 14224928 14519113 139551969 143351571 469352 -175167 0 X X 0 1 X 1 0 1123759 1123759 2789401 2789401 651534 651534 4564694 MEMBER DEPOSITS 127452859 127452859 X 9740241 0 9740241 0 9740241 9270889 0 9270889 0 9270889 PART X, LINE 2: INCOME TAX IS NOT PROVIDED IN THE STATEMENTS OF INCOME AS THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES AND IS NOT REQUIRED TO FILE INCOME TAX RETURNS. X 1 1 X X 0 0 0 CHRISTOPHER CORKERY CEO 169138 0 24600 0 7200 0 14107 0 7057 0 222102 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE ORGANIZATION VOTE FOR VOLUNTEERS, OR BOARD OF DIRECTORS, THROUGH AN ELECTION PROCESS CONDUCTED AT AN ANNUAL MEETING. 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 CEO AND CFO OVERSEE THE PREPARATION OF THE FORM 990 AS WELL AS THE REVIEW OF THE FORMS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C POLICIES ARE REVIEWED REGULARLY, REVISED AS NECESSARY AND PRESENTED TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMMITTEE COMPRISED OF THE BOARD OF DIRECTORS APPROVES THE CEO'S COMPENSATION. CEO APPROVES COMPENSATION OF OTHER OFFICERS/KEY EMPLOYEES AND ESTABLISHES TERM CONTRACTUAL AGREEMENTS AFTER NOTIFYING THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. 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. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.