2018-11-15T15:37:12-06:00 2017-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 380960035 CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION CRED 8772432528 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 ROBERT BAVA CEO 8772432528 2018-11-15 1 JOSEPH ZITO CPA P00648440 2482443000 64.95.240.2 2018-11-15 12:59:24 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2017 2019-02-21 02:37:17Z ROBERT BAVA 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 54044021 0 1359 X WWW.COMMUNITYCHOICECU.COM X 1935 MI COMMUNITY CHOICE CREDIT UNION IS A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE COMMITTED TO SERVING AS A TRUSTED ADVISOR TO OUR MEMBERS. WE ARE DEDICATED TO IMPROVING THE FINANCIAL LIVES OF OUR MEMBERS AND QUALITY OF LIFE FOR THE COMMUNITIES WE SERVE IN MICHIGAN. 9 9 367 10 793882 -200518 0 0 37610547 48076167 1806275 2543416 1922621 3424438 41339443 54044021 0 86553 0 0 18509042 22106842 0 0 0 20743774 25344740 39252816 47538135 2086627 6505886 850069648 1024174335 777032442 929798984 73037206 94375351 X WE BELIEVE IN HELPING OUR NEIGHBORS ACHIEVE THE LIFE THEY DESIRE. 1 0 LOANS DEPOSIT ACCOUNTS DEBIT CARD SERVICES 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 1 0 1 0 0 0 1 0 1 0 0 0 0 0 1 1 1 0 1 32504 0 1 367 1 1 1 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 KELLI WISNER-FRANK 8772432528 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 ROBERT BIGA SECRETARY 1.00 X 0 0 0 BRIAN WILSON CHAIRMAN 1.00 X 0 0 0 MARY MIKO DIRECTOR 1.00 X 0 0 0 MARTHA SCHULTZ TREASURER 1.00 X 0 0 0 THOMAS COOK DIRECTOR 1.00 X 0 0 0 MARY KATHERINE BONUTTI DIRECTOR 1.00 X 0 0 0 TIMOTHY CROSSON JR V. CHAIRMAN 1.00 X 0 0 0 MICHAEL PALAZZOLO DIRECTOR 1.00 X 0 0 0 MARKS CHERYL DIRECTOR 1.00 X 0 0 0 MARSHALL VICTOR B DIRECTOR 1.00 X 0 0 0 ROBERT BAVA CEO 40.00 X 635778 0 34237 KELLI WISNER-FRANK CFO 40.00 X 196016 0 22152 DANIEL MUNRO COO/EVP 40.00 X 304581 0 27087 ALAN BERGSTROM CMO 40.00 X 249510 0 25707 TERESA MAYER VP LENDING 40.00 X 238414 0 10798 DONNA SIEJUTT VP HUMAN RESOURCES 40.00 X 178745 0 21335 WENDI DIACONO FINANCIAL PLANNER 40.00 X 161964 0 18317 SUSAN SETERA VP OF OPERATIONS 40.00 X 155551 0 8300 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP M 40.00 X 222692 0 12785 JENNIFER LYNN HURREN VP E-COMMERCE 40.00 X 148978 0 8063 BRENT LOWELL BUSINESS RELATIONSHIP MANAGER 40.00 X 145588 0 21149 2637817 0 209930 24 0 1 0 SALUS 37308 SCHOENHERR STERLING HEIGHTS MI 48312 EMPLOYEE RETIREMENT PLAN 1816628 SMZ PO BOX 72552 CLEVELAND OH 44192 MARKETING SERVICES 1043294 RONNISCH CONSTRUCTION GROUP 4327 DELEMERE COURT ROYAL OAK MI 48073 CONSTRUCTION 731065 IDSCOM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 STATEMENTS AND DOCUMENTS 310855 HOLZMAN CORKERY PLLC 28366 FRANKLIN ROAD SOUTHFIELD MI 480345503 LEGAL & RECOVERY SERVICES 262206 21 MEMBER LOANS 522100 33807145 33807145 FEE INCOME 522100 14269022 14269022 48076167 2543416 2543416 GAIN ON BARGAIN PURCHASE ACQUISIT 522100 1652008 1652008 GAIN FROM CUSO 522100 978548 978548 FINANCIAL SERVICES INCOME 525990 499292 499292 294590 294590 3424438 54044021 50706723 793882 2543416 X 86553 1944360 15588334 498225 2654898 1421025 198572 322994 105462 166821 1712928 3034216 1234513 862088 81645 3931024 70411 2289710 188422 DEBIT/CREDIT EXPENSES 2899185 PROVISION FOR LOAN LOSS 2452001 LOAN SERVICING 1951417 MAINTENANCE 1814434 2028897 47538135 11644249 16535350 5404915 27461871 5377318 3514656 706916851 818080908 1171769 1627134 50681578 19282006 28610905 31399572 41786382 66497116 27630452 29904649 391468 1885547 21135339 27267532 850069648 1024174335 9560837 15135690 36854854 14750000 730616751 899913294 777032442 929798984 X 0 0 0 0 73037206 94375351 73037206 94375351 850069648 1024174335 X 6505886 -358168 15190427 X X 0 1 X 1 0 8834537 8834537 27881395 9183296 18698099 171496 11433 160063 13794150 10087277 3706873 31399572 MEMBER SHARES 899913294 899913294 X 54044021 0 54044021 0 54044021 47538135 0 47538135 0 47538135 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14)), FROM FEDERAL INCOME TAXES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S OPEN AUDIT PERIOD IS FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 2017. 1 COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 501(C)(3) 70000 16553 TO FUND SCHOLARSHIPS THE FOUNDATION WILL ISSUE 1 PART I, LINE 2: GRANT RECIPIENTS OF OUR FOUNDATION'S COLLEGE SCHOLARSHIP PROGRAM ARE REQUIRED TO PROVIDE A COLLEGE TRANSCRIPT TO DETERMINE THAT MINIMUM GPA REQUIREMENTS HAVE BEEN MET, THAT THEY HAVE ATTENDED A COLLEGE IN MICHIGAN, AND THAT THEY ARE RESIDING IN MICHIGAN. X 1 1 X X X X X 1 1 0 ROBERT BAVA CEO 483100 0 152678 0 0 0 7950 0 26287 0 670015 0 0 0 KELLI WISNER-FRANK CFO 186484 0 9532 0 0 0 6358 0 15794 0 218168 0 0 0 DANIEL MUNRO COO/EVP 282071 0 22510 0 0 0 7950 0 19137 0 331668 0 0 0 ALAN BERGSTROM CMO 211764 0 37746 0 0 0 7701 0 18006 0 275217 0 0 0 TERESA MAYER VP LENDING 201946 0 36468 0 0 0 7198 0 3600 0 249212 0 0 0 DONNA SIEJUTT VP HUMAN RESOURCES 164803 0 13942 0 0 0 5629 0 15706 0 200080 0 0 0 WENDI DIACONO FINANCIAL PLANNER 41250 0 120714 0 0 0 5019 0 13298 0 180281 0 0 0 SUSAN SETERA VP OF OPERATIONS 139788 0 15763 0 0 0 4700 0 3600 0 163851 0 0 0 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP M 98075 0 124617 0 0 0 6585 0 6200 0 235477 0 0 0 JENNIFER LYNN HURREN VP E-COMMERCE 132246 0 16732 0 0 0 4463 0 3600 0 157041 0 0 0 BRENT LOWELL BUSINESS RELATIONSHIP MANAGER 94911 0 50677 0 0 0 4372 0 16777 0 166737 0 0 0 PART I, LINES 4A-B ROBERT BAVA-CEO, DAN MUNRO-EVP, AND KELLI WISNER-FRANK CFO PARTICIPATE IN A 457F PLAN. THERE WERE NO DISTRIBUTIONS DURING THE TAX YEAR. THOMAS COOK DIRECTOR/OWNER OF TEAM FACILITIES 215203 THOMAS COOK OWNS A FACILITIES COMPANY THAT HANDLES ALL OF THE CREDIT UNION FACILITY NEEDS FOR ALL LOCATIONS (LAWN SERVICE, OFFICE CLEANING, HEATING/COOLING, ETC.). 0 ROBERT BAVA BOARD MEMBER OF SALUS GROUP BENEFITS 12495 ROBERT BAVA WAS A BOARD MEMBER OF SALUS GROUP BENEFITS WHICH PROVIDES BENEFITS TO EMPLOYEES OF COMMUNITY CHOICE CREDIT UNION. 1 FORM 990, PART III, LINE 2 WE OPENED A NEW OFFICE IN ROYAL OAK, MICHIGAN AND MERGED IN TWO CREDIT UNIONS, MICHIGAN COMMUNITY CREDIT UNION AND SHORELINE FEDERAL CREDIT UNION, WHICH ALLOWS US TO SERVE COMMUNITIES IN THE JACKSON AND MUSKEGON AREAS IN MICHIGAN. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE AND IS ABLE TO VOTE FOR THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MAJOR DECISIONS MADE BY THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS, STOCKHOLDERS, OR OTHER PERSONS; HOWEVER, DAY TO DAY DECISIONS ARE NOT SUBJECT TO APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 WILL NOT BE PROVIDED TO THE ORGANIZATION'S GOVERNING BODY PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH MEMBER OF THE BOARD OF DIRECTORS, MANAGEMENT, AND TEAM MEMBERS MUST BE TRAINED, REVIEW, AND SIGN OFF ON A CONFLICT OF INTEREST STATEMENT LISTING ANY POTENTIAL CONFLICTS. IF A POTENTIAL CONFLICT IS LISTED OR FOUND, EACH IS REVIEWED ON A CASE BY CASE BASIS. ANY CONFLICTS THAT ARE FOUND ARE DEALT WITH IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A THIRD PARTY VENDOR, COMPEASE, THROUGH HRN MANAGEMENT GROUP TO ASSESS AND EVALUATE EVERY POSITION IN THE ORGANIZATION. COMPEASE, DEVELOPED BY KOKER GOODWIN AND ASSOCIATES, IS SALARY ADMINISTRATION SOFTWARE THAT HELPS DEVELOP AND MAINTAIN COMPETITIVE PAY RATES AND IMPROVE EMPLOYEE PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 166,821. FORM 990, PART XI, LINE 9: PENSION PLAN AMORTIZATION -131,703. EQUITY ACQUIRED IN BUSINESS COMBINATION 15,322,130. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 28C: ROBERT BAVA IS ON THE BOARD OF DIRECTORS OF THE FOLLOWING CREDIT UNION SERVICE ORGANIZATIONS: MEMBER DRIVEN TECHNOLOGIES SALUS GROUP BENEFITS KELLI WISNER-FRANK IS ON THE BOARD OF DIRECTORS FOR COMMERCIAL ALLIANCE AND MEMBER FIRST MORTGAGE. COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 PUBLIC CHARITY MI 501(C)(3) 7 COMMUNITY CHOICE CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 COMMUNITY CHOICE FOUNDATION B 70000 CASH COMMUNITY CHOICE FOUNDATION L 16553 CASH COMMUNITY CHOICE FOUNDATION O 44821 CASH