2019-11-15T18:32:09-06:00 2018-12-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2018-01-01 381524350 Credit Unions Chartered in the State of Michigan 4 Front Credit Union CRED 2319292000 PO Box 795 Traverse City MI 49685 Andrew Kempf President 2019-11-15 true NICOLE BENCIK P00756195 3128997000 2018 2020-03-31 21:24:44Z X 4 Front Credit Union Andrew Kempf PO Box 795 Traverse City MI 49685 74715579 false X www.4frontcu.com X 1954 MI To provide financial services to members with a common bond. 10 10 238 10 108107 33115 0 0 26348278 32307619 1725010 1934911 163658 55814 28236946 34298344 0 0 0 0 9800821 10842759 0 0 14467375 17598512 24268196 28441271 3968750 5857073 488650887 516059883 434541083 456843153 54109804 59216730 To provide financial services to members with a common bond. false false The Credit Union provides several deposit account types to members including savings, checking, certificates of deposits and others. the total number of members at 12/31/18 was 80,616. The credit union provides a variety of loans to members including real estate, credit card, vehicle and others. The total number of loans outstanding at 12/31/18 was 45,271. 0 false false false false false false false false true false false false true true true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 10912 0 true 238 true true true false false false false false false false X 10 10 false false false false true true true true true false false false true true false false true true true false X Molly Reibel 2315473943 PO Box 795 Traverse City MI 49685 X Todd Rohrback Chairman 1.0 X X 0 0 0 Michael Slater Vice Chairman 1.0 X X 0 0 0 Brian Ausdemore Treasurer 1.0 X X 0 0 0 Bryan Lindfors Secretary 1.0 X X 0 0 0 Larry Fay Director 1.0 X 0 0 0 Walt Coyle Director 1.0 X 0 0 0 Charles Hague Director 1.0 X 0 0 0 Peggy Harold Director 1.0 X 0 0 0 James Hoffman Director 1.0 X 0 0 0 Julie Kosloskey Director 1.0 X 0 0 0 David Leusink CEO 40.0 X 316042 0 50315 Andrew Kempf President 40.0 X 258572 0 43627 Geoffrey Streit VP Commercial Lending 40.0 X 174941 0 32560 Heather Carey VP Lending 40.0 X 119172 0 26429 Brent Simons Mortgage Loan Originator 40.0 X 116742 0 25842 Amy Essex VP Finance 40.0 X 110349 0 18775 Shelley DeYoung VP Human Resources 40.0 X 109750 0 9629 1205568 0 207177 8 false true false Q2 SOFTWARE PO BOX 205970 DALLAS TX 753205970 ONLINE BANKING 492595 SWBC-SURE TRACK 8600 FARLEY ST SUITE 200 OVERLAND PARK KS 66212 TAX TRACKING 432918 FLIGHT PATH CREATIVE 117 S UNION ST SUITE B TRAVERSE CITY MI 49684 MARKETING & ADVERTISING SERVICES 357330 IDSCOM 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 PRODUCTIONS SERVICES 341522 OWENS BUILDERS LLC 949 WALL STREET MANISTEE MI 49660 CONSTRUCTION & REPAIR CONTRACTORS 298483 18 0 0 0 0 0 0 0 0 interest on loans 522100 22211793 22211793 Other Program Service Revenue 522100 4929903 4929903 Fees & Charges 522100 5165923 5090953 74970 0 0 0 0 0 0 0 0 0 0 0 0 32307619 1519080 1519080 0 0 0 0 0 0 0 0 0 40242569 590497 39826156 591079 416413 -582 415831 415831 0 0 0 0 0 0 0 Other 525990 33137 33137 0 Insurance Reimbursement 524298 22677 22677 0 0 0 0 0 0 0 0 0 55814 34298344 32255326 108107 1934911 0 0 0 0 668556 0 0 0 7868020 271116 1342109 692958 26350 287715 0 0 0 1044165 2741973 214869 885900 34787 39530 1695719 39519 1841796 144625 debit/credit expenses 2507908 loan servicing 2565005 provision for loan loss 2087703 maintenance 875676 565272 0 0 0 28441271 0 0 0 7732094 7712146 4309534 1803236 0 0 2473758 1540239 5780432 5915117 0 0 367217182 411210805 0 0 615998 701472 20627347 1418115 18406183 19209232 62255261 47868861 3288076 3356448 0 2337748 2003784 14234621 14738543 488650887 516059883 6104590 6402653 0 0 0 0 0 0 0 0 0 0 6000000 22097000 0 0 422436493 428343500 434541083 456843153 0 0 0 0 0 0 X 0 0 0 0 54109804 59216730 54109804 59216730 488650887 516059883 5857073 -750147 0 0 0 0 X false true X true false 4411048 4411048 10378377 340636 10037741 5225430 1071818 4153612 612492 5661 606831 19209232 REGULAR SHARES 143254911 CHECKING 100961437 MONEY MARKET SHARES 109790739 SHARE CERTIFICATES 39268186 IRA ACCOUNTS 23415200 ALL OTHER SHARES 11653027 428343500 X 33548197 -750147 0 -750147 34298344 0 0 34298344 28441271 0 0 28441271 0 0 28441271 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. 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. 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. THE CREDIT UNION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES AND OPEN TAX PERIODS INCLUDE 2015 and beyond. X X X X false true false David Leusink CEO 298065 0 12989 0 4988 0 31990 0 18325 0 366357 0 0 0 Andrew Kempf President 245950 0 8470 0 4152 0 28150 0 15477 0 302199 0 0 0 Geoffrey Streit VP Commercial Lending 83725 0 91071 0 145 0 19936 0 12624 0 207501 0 0 0 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan CERTAIN EXECUTIVES PARTICIPATE IN A SPLIT-DOLLAR LIFE INSURANCE PLAN. PREMIUMS PAID ON BEHALF OF THE EXECUTIVES ARE TREATED AS LOANS. LISTED BELOW ARE THE EXECUTIVES WHO PARTICIPATE IN THE PLAN AND THE PREMIUMS PAID DURING 2018: David Leusink - $89,775 Andrew Kempf - $44,910 David Leusink CEO Split Dollar Plan Premium X 3700000 3942748 false true true Andrew Kempf President Split Dollar Plan Premium X 1850000 1972369 false true true 5915117 Form 990, Part VI, Line 6 Classes of members or stockholders The credit union has a single class of members with equal rights of ownership, governance, and voting. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Members vote and elect board members at the annual meeting. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders Members of the Credit Union have the right to approve 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, Line 11b Review of form 990 by governing body Management reviews the tax returns and forwards US Form 8879-EO to the tax preparer. Form 990, Part VI, Line 15a Process to establish compensation of top management official The CEO receives a performance appraisal from the entire board and then the compensation committee makes a recommendation to the board for compensation based on the results of the appraisal. Wage ranges are set based on compensable factors using Compease (a company that looks at national, regional, state and area compensation surveys). This process takes place annually, and is documented in Compensation Committee minutes. Results are reported to the board, but the details are in the Compensation Committee minutes. Form 990, Part VI, Line 15b Process to establish compensation of other employees The President receives a performance appraisal from the entire board and then the compensation committee makes a recommendation to the board for compensation based on the results of the appraisal. Wage ranges are set based on compensable factors using Compease (a company that looks at national, regional, state and area compensation surveys). For other officers and key employees- performance appraisals are conducted by either the President or the CEO with compensation levels also set using Compease. This process takes place annually, and is documented in Compensation Committee minutes. Results are reported to the board, but the details are in the Compensation Committee minutes. Form 990, Part VI, Line 19 Required documents available to the public Monthly financials and other governing documents are available for review upon request at the Credit Union's main offices at 101 N. Park St., Traverse City, MI. Form 990, Part XII, Line 2c Committee for oversight of audit The credit union's financial statement audit is performed by independent accountants for the twelve-months ended March 31. There are no revenue/expense items that are included in the audited financial that would not be reported in Form 990. 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. Form 990, Part VI, Section B, Line 12a Conflict of Interest Policy For employees - the Conflict of Interest language is included in Employee Handbook which each new employee must read and sign acknowledge that they understand they must comply. The Board of Directors sign a conflict of interest policy when they first become a board member. The policy states that they must report any conflicts of interest.