ADVIA CREDIT UNION: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- ADVIA CREDIT UNION (EIN 38-1686050)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-10-23
- IRS object ID
- 201932969349300113
- Schema version
- 2018v3.1
- 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 | 2019-10-23T08:58:27-05:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 382492570 | 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 | 12060 S W 129TH COURT STE 201 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 331864582 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381686050 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNIONS CHARTERED IN THE | BusinessNameLine1Txt |
| Business Name Line2 | STATE OF MICHIGAN | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CRED | BusinessNameControlTxt |
| Phone | 2693829845 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 S RIVERVIEW DRIVE | AddressLine1Txt |
| City | PARCHMENT | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49004 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JEFF FIELDER | PersonNm |
| Person Title | EVP OF FINANCE | PersonTitleTxt |
| Phone | 8442384228 | PhoneNum |
| Signature | 2019-10-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DOUGLAS J ORTH | PreparerPersonNm |
| PTIN | P01076394 | PTIN |
| Phone | 3052328272 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 64.95.240.2 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-10-17 | IPDt |
| IP Tm | 17:40:44 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | A7DB26C3BB201601930FCFA0C4651552B54C26A2 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ADVIA CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CHERYL KONCSOL | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 S RIVERVIEW DRIVE | AddressLine1Txt |
| City | PARCHMENT | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49004 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $104,212,623 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ADVIACU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1935 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL ADVANTAGES TO OUR MEMBERS THROUGH THE OFFERING OF A FULL RANGE OF FINANCIAL PRODUCTS AND SERVICES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 702 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $330,065 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $75,211 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $89,164,382 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $98,634,642 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,904,838 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,661,891 | CYInvestmentIncomeAmt |
| PY Other Revenue | $233,874 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $93,303,094 | PYTotalRevenueAmt |
| CY Total Revenue | $103,296,533 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $30,813,215 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $38,898,656 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $49,780,823 | PYOtherExpensesAmt |
| CY Other Expenses | $55,163,909 | CYOtherExpensesAmt |
| PY Total Expenses | $80,594,038 | PYTotalExpensesAmt |
| CY Total Expenses | $94,062,565 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $12,709,056 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $9,233,968 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,683,958,871 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,749,022,744 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,515,981,099 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,572,754,678 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $167,977,772 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $176,268,066 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROVIDE COMPETITIVE DEPOSIT AND LOAN PRODUCTS TO OUR MEMBERSHIP BASE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TO PROVIDE FINANCIAL ADVANTAGES TO OUR MEMBERS THROUGH THE OFFERING OF A FULL RANGE OF FINANCIAL PRODUCTS AND SERVICES. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | 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 |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| 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 | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | 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 With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 48432 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 702 | 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 | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | 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 | Yes (1) | 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 | JEFF FIELDER | PersonNm |
| Phone | 2693829845 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 S RIVERVIEW DRIVE | AddressLine1Txt |
| City | PARCHMENT | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49004 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 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 |
|---|---|---|---|---|---|---|---|---|
| MARTY DOORN | ||||||||
| CHAIRMAN/BOD | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JULIE BIRMAN | ||||||||
| DIRECTOR/BOD | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DANIELLE STREED | ||||||||
| TREASURER/BOD | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| NICOLE KALMBACH | ||||||||
| V. CHAIR/BOD | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MIKE SEGAL | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DONNA KALMETA | ||||||||
| SECRETARY/BOD | 1.00 | Yes (X) | $7,553 | $0 | $0 | |||
| RICH SEIM | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CHERYL KONCSOL | ||||||||
| PRESIDENT/CEO | 40.00 | $1,176,291 | $0 | $82,552 | Yes (X) | |||
| JEFFREY FIELDER | ||||||||
| EVP OF FINANCE | 40.00 | $286,320 | $0 | $92,316 | Yes (X) | |||
| KRISTIN MARSCHNER | ||||||||
| EVP OF RISK MANAGE | 40.00 | $348,879 | $0 | $83,133 | Yes (X) | |||
| RAYMOND BLACK | ||||||||
| EVP OF MEMBER SERVICE & MA | 40.00 | $251,799 | $0 | $72,112 | Yes (X) | |||
| TIMOTHY MERWIN | ||||||||
| EVP OF LENDING | 40.00 | $235,334 | $0 | $71,004 | Yes (X) | |||
| LINDEN BUCK II | ||||||||
| VP OF INDIRECT RELATIONSHI | 40.00 | $185,098 | $0 | $26,421 | Yes (X) | |||
| THOMAS OEHLER | ||||||||
| VP OF COMMERCIAL LENDING | 40.00 | $227,390 | $0 | $45,181 | Yes (X) | |||
| STEVEN KLITZING | ||||||||
| REGIONAL VICE PRESIDNET | 40.00 | $215,925 | $0 | $33,811 | Yes (X) | |||
| MARION BRENNER | ||||||||
| VP OF BRANCH EXPERIENCE SU | 40.00 | $193,254 | $0 | $29,367 | Yes (X) | |||
| JAMES HOUSTON | ||||||||
| REGIONAL VICE PRESIDNET | 40.00 | $190,245 | $0 | $19,259 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,318,088 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $555,156 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 37 | 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 |
|---|---|---|---|---|---|
| JAMES AND MATTHEW COMPANY | |||||
| 2 SHAKER RD STE D220 | SHIRLEY | MA | 01464 | MARKETING & PRINTING EXP | $1,672,070 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | SOFTWARE PROVIDER | $1,242,327 |
| COMMERCIAL CONTRACTORS | |||||
| 16745 COMSTOCK STREET | GRAND HAVEN | MI | 49417 | BUILDING CONTRACTORS | $1,223,015 |
| Q2 E BANKING | |||||
| PO BOX 205970 | DALLAS | TX | 75320 | SOFTWARE PROVIDER | $1,034,924 |
| LENDING SOLUTIONS CONSULTING | |||||
| 2200 POINT BLVD | ELGIN | IL | 60123 | LENDING SERVICES | $953,381 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 40 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INCOME FROM LOANS | 522100 | $69,806,017 | $69,806,017 | |
| FEES AND CHARGES | 522100 | $14,737,092 | $14,737,092 | |
| OTHER INCOME | 522100 | $13,761,468 | $13,761,468 | |
| NON-MEMBER ATM FEE INCOME | 900099 | $330,065 | $330,065 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $98,634,642 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,471,380 | TotalRevenueColumnAmt |
| Exclusion | $4,471,380 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,106,601 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $916,090 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $190,511 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $190,511 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $190,511 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $103,296,533 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $98,495,088 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $330,065 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,471,380 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,707,293 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,742,647 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,271,322 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,065,018 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,112,376 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $299,462 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $436,932 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,821 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,051 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $245,825 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,488,280 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,102,343 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,515,987 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,608,425 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $677,054 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,648,017 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $89,731 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,337,021 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $277,611 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $9,372,861 |
| ATM EXPENSES | $3,270,591 |
| DEBIT/CREDIT CARD EXPEN | $2,766,325 |
| LOAN SERVICING | $2,101,253 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,816,319 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $94,062,565 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,056,505 | BOYAmt |
| EOY | $20,755,157 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,498,949 | BOYAmt |
| EOY | $90,794,313 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $2,932,904 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,571,565 | BOYAmt |
| EOY | $9,683,317 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,368,899,779 | BOYAmt |
| EOY | $1,397,015,845 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,634,156 | BOYAmt |
| EOY | $2,287,721 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $46,197,339 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $17,241,380 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,843,403 | BOYAmt |
| EOY | $28,955,959 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $105,696,911 | BOYAmt |
| EOY | $114,141,751 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,013,095 | BOYAmt |
| EOY | $42,406,176 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,463,102 | BOYAmt |
| EOY | $17,339,016 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,281,406 | BOYAmt |
| EOY | $22,710,585 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,683,958,871 | BOYAmt |
| EOY | $1,749,022,744 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,783,530 | BOYAmt |
| EOY | $19,291,076 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $107,096,340 | BOYAmt |
| EOY | $60,300,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,392,101,229 | BOYAmt |
| EOY | $1,493,163,602 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,515,981,099 | BOYAmt |
| EOY | $1,572,754,678 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
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 | $167,977,772 | BOYAmt |
| EOY | $176,268,066 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $167,977,772 | BOYAmt |
| EOY | $176,268,066 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,683,958,871 | BOYAmt |
| EOY | $1,749,022,744 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $9,233,968 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$943,674 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,182,167 | OtherCostOrOtherBasisAmt |
| Book Value | $6,182,167 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $21,992,731 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,786,680 | DepreciationAmt |
| Book Value | $16,206,051 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $924,799 | OtherCostOrOtherBasisAmt |
| Depreciation | $217,632 | DepreciationAmt |
| Book Value | $707,167 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,097,642 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,237,068 | DepreciationAmt |
| Book Value | $5,860,574 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $28,955,959 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| SAVINGS AND CLUB | $291,419,593 |
| MONEY MARKET | $426,713,220 |
| SHARE DRAFT | $337,752,326 |
| CERTIFICATES | $400,180,338 |
| IRA CERTIFICATES | $37,098,125 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,493,163,602 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $103,296,533 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $103,296,533 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $103,296,533 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $94,062,565 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $94,062,565 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $94,062,565 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED 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 DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2016, 2015, AND 2014 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| 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 (10 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CHERYL KONCSOL | ||||||||||||||
| PRESIDENT/CEO | $569,233 | $0 | $192,939 | $0 | $414,119 | $0 | $48,509 | $0 | $34,043 | $0 | $1,258,843 | $0 | $0 | $0 |
| JEFFREY FIELDER | ||||||||||||||
| EVP OF FINANCE | $222,440 | $0 | $55,434 | $0 | $8,446 | $0 | $61,604 | $0 | $30,712 | $0 | $378,636 | $0 | $0 | $0 |
| KRISTIN MARSCHNER | ||||||||||||||
| EVP OF RISK MANAGE | $205,032 | $0 | $86,650 | $0 | $57,197 | $0 | $48,900 | $0 | $34,233 | $0 | $432,012 | $0 | $0 | $0 |
| RAYMOND BLACK | ||||||||||||||
| EVP OF MEMBER SERVICE & MA | $199,039 | $0 | $47,051 | $0 | $5,709 | $0 | $54,628 | $0 | $17,484 | $0 | $323,911 | $0 | $0 | $0 |
| TIMOTHY MERWIN | ||||||||||||||
| EVP OF LENDING | $186,673 | $0 | $41,394 | $0 | $7,267 | $0 | $51,848 | $0 | $19,156 | $0 | $306,338 | $0 | $0 | $0 |
| LINDEN BUCK II | ||||||||||||||
| VP OF INDIRECT RELATIONSHI | $110,490 | $0 | $70,630 | $0 | $3,978 | $0 | $7,209 | $0 | $19,212 | $0 | $211,519 | $0 | $0 | $0 |
| THOMAS OEHLER | ||||||||||||||
| VP OF COMMERCIAL LENDING | $177,246 | $0 | $46,986 | $0 | $3,158 | $0 | $11,400 | $0 | $33,781 | $0 | $272,571 | $0 | $0 | $0 |
| STEVEN KLITZING | ||||||||||||||
| REGIONAL VICE PRESIDNET | $167,236 | $0 | $45,794 | $0 | $2,895 | $0 | $10,197 | $0 | $23,614 | $0 | $249,736 | $0 | $0 | $0 |
| MARION BRENNER | ||||||||||||||
| VP OF BRANCH EXPERIENCE SU | $139,037 | $0 | $47,712 | $0 | $6,505 | $0 | $8,782 | $0 | $20,585 | $0 | $222,621 | $0 | $0 | $0 |
| JAMES HOUSTON | ||||||||||||||
| REGIONAL VICE PRESIDNET | $141,001 | $0 | $47,918 | $0 | $1,326 | $0 | $8,497 | $0 | $10,762 | $0 | $209,504 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | IN LATE 2018, KRISTIN MARSCHNER ANNOUNCED HER INTENTION TO SEVER HER EMPLOYMENT WITH THE CREDIT UNION IN EARLY 2019. IN ADVANCE OF HER DEPARTURE, SHE AGREED TO SURRENDERED HER SPLIT DOLLAR INSURANCE POLICY IN 2018 TO REPAY THE LOAN. TO HELP FACILITATE THIS TRANSACTION, THE ASSOCIATED LOAN INTEREST WAS FORGIVEN. THE CREDIT UNION INCREASED HER COMPENSATION BY $36,238 TO COVER THE TAX IMPLICATIONS OF THIS TRANSACTION. CERTAIN INDIVIDUALS FROM THE CREDIT UNION'S EXECUTIVE MANAGEMENT TEAM PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). DURING 2018, THE CREDIT UNION ACCCRUED FOR SERP BENEFITS FOR CHERYL DEBOER, JEFF FIELDER, KRISTIN MARSHNER, RAY BLACK, AND TIM MERWIN IN THE AMOUNTS OF $32,009, $51,718, $42,429, $42,170 AND $40,512, RESPECTIVELY. ADDITIONALLY, DURING 2018 THE CREDIT UNION PAID OUT $406,074 IN RETIREMENT BENEFITS TO THE PRESIDENT/CEO, A PORTION OF WHICH WAS ACCRUED FOR DURING THE PRIOR YEAR. THIS PAYOUT IS INCLUDED IN THE CEO'S 2018 W-2 COMPENSATION. ADDITIONALLY, THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CHERYL DEBOER, JEFF FIELDER, TIMOTHY MERWIN, AND RAY BLACK THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS 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 PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| CHERYL DEBOER | |||||||
| PRESIDENT & CEO | TO FUND LIFE INSURANCE POLICY | Yes (X) | $5,400,000 | $5,858,198 | 0 | Yes (1) | Yes (1) |
| JEFF FIELDER | |||||||
| EVP OF FINANCE | TO FUND LIFE INSURANCE POLICY | Yes (X) | $1,450,000 | $1,573,035 | 0 | Yes (1) | Yes (1) |
| RAY BLACK | |||||||
| EVP OF SALES AND MARKETING | TO FUND LIFE INSURANCE POLICY | Yes (X) | $1,500,000 | $1,535,512 | 0 | Yes (1) | Yes (1) |
| TIM MERWIN | |||||||
| EVP OF LENDING | TO FUND LIFE INSURANCE POLICY | Yes (X) | $700,000 | $716,572 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $9,683,317 | 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 THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS ARE ALLOWED TO ELECT DIRECTORS OF THE GOVERNING BODY. |
| 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 990 IS PREPARED BY AN INDEPENDENT AND EXPERIENCED CPA FIRM. PRIOR TO FILING, THE FORM 990 IS REVIEWED BY THE CREDIT UNION'S CEO, EVP OF FINANCE, VP OF FINANCE & INTERNAL AUDIT MANAGER. ONCE REVIEWED AND APPROVED, FORM 990 IS FILED WITH THE IRS. MANAGEMENT THEN INFORMS THE CREDIT UNION'S BOARD THAT THE FORM 990 HAS BEEN COMPLETED AND FILED, MAKING IT AVAILABLE TO THEM UPON REQUEST. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY IS SIGNED EVERY YEAR AT THE ANNUAL MEETING. AT THE BEGINNING OF EVERY BOARD MEETING, BOARD MEMBERS ARE ASKED IF THERE ARE POTENTIAL OR ACTUAL CONFLICTS WITH ANY OF THE BOARD ITEMS. DIRECTORS ABSTAIN FROM ANY VOTING WHERE A CONFLICT EXISTS. |
| FORM 990, PART VI, SECTION B, LINE 15 | A COMMITTEE OF THE BOARD PREPARES A WRITTEN EVALUATION OF THE CEO AND OBTAINS COMPARABLE SURVEYS. |
| FORM 990, PART VI, SECTION C, LINE 19 | RECORDS ARE MADE AVAILABLE IN ACCORDANCE WITH THE MICHIGAN CREDIT UNION ACT AND NCUA RULES AND REGULATIONS. |
| FORM 990, PART IX, LINE 24E | OTHER OPERATING EXPENSES 997,021. MAINTENANCE 489,945. TRAINING/BUSINESS DEVELOPMENT 329,353. |
| 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. |
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