2018-05-09T13:06:25-04:00 2017-12-31 461605712 BRENT WOOKEY CPA PO BOX 1512 LA CROSSE WI 546021512 990 2017-01-01 381627377 HARBORLIGHT CREDIT UNION HARB 2318945608 2151 COGSWELL DRIVE WHITEHALL MI 49461 LINDA HUGHEY CEO 2318945608 2018-05-03 true BRENT WOOKEY CPA P00062439 6087920843 2018-05-09 X 2017 2022-09-23 18:48:47Z LINDA HUGHEY 2151 COGSWELL DRIVE WHITEHALL MI 49461 5116345 false X WWW.HARBORLIGHTCU.ORG X 1954 MI HARBORLIGHT CREDIT UNION EXISTS TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS. 7 7 43 10 26224 -30797 2064 1000 4293328 4434994 627847 641400 17883 38951 4941122 5116345 2000 2000 0 1429189 1593443 0 0 3117904 3602505 4549093 5197948 392029 -81603 100708944 105873017 90182366 95400463 10526578 10472554 HARBORLIGHT CREDIT UNION EXISTS TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS. false false THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 1,029 NEW DEPOSIT ACCOUNTS IN 2017. AS OF 12/31/17 WE HAD 10,266 MEMBERS. THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,073 NEW LOANS TO OUR MEMBERS DURING 2017. AS OF 12/31/17 WE HAD 5,690 LOANS TO OUR MEMBERS. false false false false false false false true false true false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 2259 0 true 43 true true true false false false false false X 7 7 false false true false true true true true true false false false true true true true true true true false X BARBARA BLAIR 2318945608 2151 COGSWELL DRIVE WHITEHALL MI 49461 ALLEN RANT CHAIR 0.50 X X 0 0 0 STEVE MAYBERRY VICE CHAIR 0.50 X X 0 0 0 THOMAS GEORGE TREASURER 0.50 X X 0 0 0 RITA KOSHEBA SECRETARY 0.50 X X 0 0 0 SHARON SWANINGER DIRECTOR 0.50 X 0 0 0 LEON KAY DIRECTOR 0.50 X 0 0 0 KEVIN SPENCER DIRECTOR 0.50 X 0 0 0 LINDA HUGHEY CEO 40.00 X 105459 0 33802 BARBARA BLAIR CFO 40.00 X 52219 0 11591 157678 45393 1 false false false FISERV 75 REMITTANCE DRIVE CHICAGO IL 60675 CORE &CARD PROC 1147304 CLIFFORD BUCK CONSTRUCTION 500 IRWIN AVE MUSKEGON MI 49442 BLDG CONSTRUCTN 542398 JOHN M FLOYD & ASSOCIATES 125 N BURNET DR BAYTOWN TX 77520 COURTESY PAY 154719 CORNELIUS 3966 ELEVEN MILE RD BERKLEY MI 48072 CASH RECYCLERS 118012 4 1000 1000 INTEREST ON LOANS 522130 2731185 2731185 MEMBEER FEE INCOME 522130 953270 953270 INTERCHANGE INCOME 522130 663810 663810 OTHER MEMBER RELATED INCOME 522130 60505 60505 ADVERTISING INCOME 541800 14506 14506 11718 11718 4434994 641400 641400 38951 38951 5116345 4408770 26224 680351 500 1500 157678 1025681 93656 214758 101670 383258 97636 1501662 405625 116752 26241 46492 3 166848 75333 PROVISION FOR LOAN LOSS 392629 DIVIDENDS EXPENSE 390026 5197948 0 0 0 784163 1641109 16777829 14097167 53269358 54226133 91044 164202 5050569 1942517 2166654 3108052 4357652 3544599 20050700 25734700 3211544 3357055 100708944 105873017 138740 -41630 157850 153530 89885776 95288563 90182366 95400463 X 10526578 10472554 10526578 10472554 100708944 105873017 -81603 27579 X false false false true X 173352 173352 3509717 1036243 2473474 1367500 906274 461226 3108052 INVESTMENTS WITH MATURITY > 1 YR 25330000 C CAPITAL ACCTS CORPORATE CU 404700 C 25734700 MEMBER SHARES AND DEPOSITS 95442093 ESCROW BALANCES TO LINE 21 BAL SHEET -153530 95288563 SCHEDULE D, PAGE 2, PART IV, LINE 2B THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNTS FOR PROPERTY TAXES AND HOMEOWNERS INSURANCE RELATED TO MORTGAGE LOANS. FORM 990, PAGE 6, PART VI, LINE 4 IN 2017 THE BYLAWS WERE UPDATED TO NOT ALLOW NOMINATIONS FROM THE FLOOR AT THE ANNUAL MEETING FOR OPEN BOARD POSITIONS. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7B A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT PROVIDES DATA TO INDEPENDENT CPA TO PREPARE THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES THE CPA TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THE NEXT BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 12C POLICY READ AND ACKNOWLEDGED ANNUALLY BY SIGNING AND ARE RETURNED TO CEO. FORM 990, PAGE 6, PART VI, LINE 15A CEO USES THE CUNA SALARY SURVEY TO DETERMINE WAGE BRACKETS FOR EACH STAFF POSITION AND PROVIDES THE CEO POSITION BRACKET INFORMATION TO THE BOARD. THE BOARD REVIEWS THE CEO COMPENSATION AT THE ANNUAL WAGE MEETING AND DETERMINES THE CEO COMPENSATION. THE BOARD DECISION TO APPROVE UPDATED WAGES IS NOTED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 15B KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE CEO USING THE CUNA SALARY SURVEY TO DETERMINE WAGE BRACKETS FOR EACH STAFF POSITION, AND IS DONE IN ACCORDANCE WITH THE WAGE BUDGET APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.